September 22, 2025 • 15 mins
Tuesday 23 September 2025
The Reserve Bank governor gives an upbeat assessment of the local economy but warns international pressures lurk.
And more, including:
- Prime Minister Anthony Albanese questions whether Optus boss Stephen Rue should keep his job.
- Australia formally recognises the Palestinian state.
- Investors take big bets on the share prices of big tech companies falling
- The rush to buy granny flats.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:06):
Welcome to Fear and Greed business news you can use today.
The Reserve Bank governor gives an upbeat assessment to the
local economy, but WARN's international pressure's lurk. Prime Minister Anthony
Abneasy questions whether the optist boss, Stephen Rue should keep
his job, and Australia formally recognizes the Palestinian state. Plus
investors take big bets on the share prices of the
(00:28):
big tech companies falling and the rush to buy granny flats.
It is Tuesday, the twenty third of September twenty twenty five.
I'm Michael Thompson and good morning, Adam Lange.
Speaker 2 (00:38):
Good morning, Michael, Adam.
Speaker 1 (00:40):
The main story this morning Reserve Bank of Australia Governor
Michelle Bullock appeared before a parliamentary committee yesterday and it
was a very wide ranging discussion, but if we kind
of get to the heart of it, the basic message
was the local economy is recovering well at the moment,
supported by interest rate cuts, but and it's a big butt,
(01:01):
the global economic uncertainty could really spoil the party.
Speaker 2 (01:06):
Yeah, Michael.
Speaker 3 (01:07):
It was a broad appraisal and starting with the economy,
Governor Michelle Bullock said the recovery in household consumption is
forecast to keep going and the inflation outlook is good,
with prices likely to settle in the middle of the
Central Bank's target range of two to three percent. Now
recent rate carts can be seen already impacting the housing
(01:27):
market and consumption.
Speaker 2 (01:28):
She said.
Speaker 3 (01:29):
The global environment is particularly uncertain and unpredictable, but given
where interest rates are today, there is room to move
if things go downhill. The economy is close to full
employment and that is one of the main RBA goals,
but productivity growth has not picked up and there is
pressure on labor costs, so the RBA governor said one
of the reasons for the low productivity rate is the
(01:51):
rise of non market industries such as health, education, and
the public service. While they have a lower productivity rate,
they are essentially to an advanced economy.
Speaker 2 (02:01):
We all need them, she added.
Speaker 3 (02:03):
Bullock said the economy is seeing a step change in
the world trading system, which has the potential to trigger
a market downturn. She pointedly said that there isn't a
great deal of risk priced into equities, adding that there
wasn't a lot of risk price into high credit. Risk companies.
Reading between the lines, Bullock is saying market valuations might
(02:23):
be just a little bit too high at the moment.
Speaker 1 (02:26):
Yeah, that is an interesting point that one Adam and
our colleague, our Fear and Greed colleague, Sean Almer digs
into that in the editorial in today's newsletter. If you
haven't signed up to that one already, there's a link
in today's show notes. You can do it a Fearangreed
dot com today you. But apart from the economy, Michelle
Bullock had a lot to say. She disagreed with the
big banks that lower interchange fees, which are paid by
(02:48):
merchants to banks that issue credit cards, would reduce fraud prevention.
She also said that frequent flyer points were designed to
drive wealthy Australians to use their credit cards and that
was paid for by younger and lower income consumers.
Speaker 3 (03:03):
Michelle Bullock said she was somewhat surprised at comments made
by New Australian Banking Association CEO Simon Birmingham last week
that the Reserve Bank of Australia's planned intervention on interchange
fees could lead to weaker consumer protection at a time
when Australians are losing billions of dollars a year to scams.
Another issue causing the governor a few headaches is the
(03:25):
renovation of the headquarters of the Reserve Bank at sixty
Martin Place. Bullock has low confidence at the cost, which
has blown out to one point two billion dollars from
the initial estimate of two hundred and sixty million, will
be kept at that level. The figure has jumped on
the back of a major asbestos problem and the project
has transformed from a refurbishment to a knockdown rebuild for
(03:49):
our reserve bank. Isn't it funny that we're having that
problem with the Reserve Bank here? And the FED had
very similar challenges with blowouts on building renovations and refurbishments
in the US as well, so it seems to be
a problem common to central banks. I mean that is
only two but I mean that's almost a trend, right, Yeah.
Speaker 2 (04:10):
High risk.
Speaker 3 (04:10):
But how's that two hundred and sixty million becomes one
point two billion and Michelle Bullock doesn't have confidence in
that number staying capped to that level.
Speaker 2 (04:20):
So it could go even further.
Speaker 1 (04:22):
Yeah, not good at all. Okay, moving away now from
the Reserve Bank Adam. The federal government will review whether
Optis and at Singaporean parent company Singtel have underinvested in
their networks, while Prime Minister Anthony up an easiest question
whether the Optis chief executive, Stephen Rue, should keep his job.
Speaker 3 (04:41):
Yeah, Michael, this is difficult terrain. We know there is
tragedy involved in this story. A failure in the Optus
Triple zero service last week due to a network failure
resulted in three people dying. Mister Rue said initial investigations
suggest that the proper process wasn't followed by operators. Yesterday,
the government said new legislation may be necessary to prevent
(05:02):
similar emergency call failures in the future, and it would
look into whether Optus had underinvested in its network. Reform
measures that were suggested after Optus's last major network outage
in twenty twenty three, including the start of temporary disaster
roaming tests, have not yet been implemented. The roaming test
would force rival network providers to share their infrastructure during disasters. Meanwhile,
(05:28):
speaking to ABC News Breakfast from the UN General Assembly
in New York, Prime Minister Anthony Albanezi said he would
be surprised if r was not considering his position. After
the triple zero failure last week, the Prime Minister promised
a thorough investigation of the outage, saying Optus's behavior was
completely unacceptable.
Speaker 1 (05:47):
Okay, Taking a look now at local markets, the Australians
share market closed up zero point four percent yesterday adam
to eighty eight hundred and eleven points a rally in
mining stocks and amid a broad uptick in commodity prices. Well,
that was really the driving yesterday and it was offset
somewhat by losses in financials.
Speaker 2 (06:07):
Yeah, that's right, Michael.
Speaker 3 (06:08):
Resource stocks jumped due to a rise in iron ore, copper, lithium,
and gold prices. Fortes Ke Metals, Rio Tinto and BHP
were all higher. Gold stocks rose on the back of
a higher price for the precious metal, with Northern Star
surging and the big banks generally and relatively underperformed. In
corporate news, biotech staff farmer sowed more than sixty percent
(06:30):
after agreeing to a licensing agreement with Genetech to develop
new cancer therapies and plumbing supplies. Group Reeese jumped on
the back of plans to buy back two hundred and
fifty million dollars worth of shares.
Speaker 1 (06:43):
All right, we still have a fair bit to cover, Adam.
Let's take a very quick break. We'll be back in
a moment with the rest of the day's business news.
Speaker 2 (06:56):
Adam.
Speaker 1 (06:57):
Israeli Prime Minister Benjamin Netanyahu hasud there will never be
a Palestinian state after Australia, Canada and Britain simultaneously recognized
the state of Palestine.
Speaker 3 (07:08):
Here Michael Netnia, who threatened reprisals and accused Prime Minister
Anthony Albanesi and the other countries' leaders of rewarding terror.
He said there would be no Palestinian state to the
west of the Jordan River, and analysts now expect Israel
will push to annex the West Bank and increase the
construction of settlements. Albanzi said the cycle of violence needs
(07:28):
to end, highlighting the humanitarian catastrophe that's unfolding in Gaza.
Australia has said it will not establish an embassy or
any other diplomatic infrastructure unless the Palestinian authority recognizes Israel's
right to exist, agrees to hold democratic elections, and disavows hamas.
Speaker 1 (07:47):
Adam Federal Treasury has been presented with a model to
support bank branches in the bush that would see the
country's nine largest lenders transfer one hundred and fifty three
million dollars each year to smaller banks under an alternative
plan for a rural banking levee.
Speaker 3 (08:03):
Here, Michael, this is really interesting and as according to
a reporting the Australian Financial Review, the plan submitted to
Treasury by the Regional Banking Investment Alliance would provide financial
support for five thousand bank branch workers in regional locations.
The model would provide a three hundred thousand dollars subsidy
to every regional or remote bank branch. This would be
(08:24):
funded by contributions from banks based on the size of
their lending. The cross subsidy model attempts to share the
high cost of operating branches in remote, low population areas.
The three hundred thousand dollars per branch subsidy is estimated
to represent around one third of the actual cost of
a branch, providing a meaningful contribution to its running costs.
(08:45):
Under the proposed model, which has been considered by Treasury officials,
nine banks, including each of the major banks, IG and Macquarie,
would be net payers of one hundred and fifty three
million dollars a year, while thirty seven banks would be
receivers of the funding.
Speaker 1 (09:02):
Now, Adam, this next story combines two of our great loves.
I love talking about property, you love talking about data.
So this is a report from Domain, the online property group,
and it tells us that granny flats are back in fashion.
Budget conscious home buyers are looking for cheaper options across
(09:23):
the country and granny flats are right up there.
Speaker 2 (09:26):
Yeah.
Speaker 3 (09:27):
We had Sean talking last week about building a fence
slash mote around his property at home, and here we've
got some brand new trends that are coming back. People
are looking for affordable, flexible living arrangements and granny flats
are having their moment. Domain suggests that reflects both multi
generational living and rental income potential. So the research examines
(09:48):
what people are searching for and granny flats with a
most searched term in Sydney and there is a surge
in interest in Perth and Adelaide. Searches for duel or
dual living have skyrocketed as well. Despite for now actual pressures,
lifestyle remains a top priority. Paul continues to rank in
the top five searches across all capital cities. In Melbourne,
(10:09):
character homes are back in vogue and art deco is
in the top spot, while heritage is also up in
the search category. So while three bedroom houses remain the
most searched property type nationally, many buyers are adjusting their expectations.
Townhouses and units are gaining traction as more budget conscious alternatives,
(10:29):
especially in high demand areas.
Speaker 1 (10:32):
There's so much in all of that.
Speaker 2 (10:33):
I love it.
Speaker 1 (10:34):
I just love the fact that granny flats have just
kind of had a massive resurgence and that they number
one in Sydney, in the top ten for Brisbane and
adelaide go the granny.
Speaker 2 (10:43):
Flat, Michael, aren't you working from one right now?
Speaker 3 (10:46):
Yes, we don't call it a granny flat. There's no
granny there.
Speaker 1 (10:50):
My home office and everything is set up in the
in the granny flat. And was this subject of much
DIY disaster in the process, But it's all better now.
It's better now, as long as I don't touch anything
good now. Beef prices Adam are on the rise, with
Australia's process a cow indicator the combination of words I've
(11:13):
never said before, reaching a record high price. As the
United States ramps up imports of lean beef.
Speaker 3 (11:20):
Yeah, Michael, the indicator has gone beyond three hundred and
ninety cents a kilogram for the first time, and he's
up more than thirty percent over the past year. Meat
and Livestock Australia says there is a global shortage of
lean beef and that's pushing up prices, with output from
the US particularly weak. Lean beef, as the name suggests,
has less fat content and that's around fifteen percent compared
(11:42):
with regular beef at around twenty five percent. The US
Department of Agriculture is forecasting beef imports will reach five
point three six billion pounds this year, and that was
fifteen point seven percent higher than the year before. Brazil
is the largest supplier, followed by Australia. However, with a
fifty percent tariff placed on Brazilian imports into the US,
(12:05):
Ossie beef is likely to be in demand.
Speaker 2 (12:08):
There you go.
Speaker 1 (12:08):
Turning to international news now, Adam and President Donald Trump
has suggested that Fox Corp. Chairman Lachlan Murdoch and his
father Rupert are involved in the US takeover of the
video app TikTok from its Chinese owners.
Speaker 2 (12:24):
Yes.
Speaker 3 (12:25):
In an interview, Donald Trump was asked to name the
individuals investing in TikTok. It follows the White House announcing
over the weekend that the US operations of TikTok will
be majority owned and controlled by American investors, and this
is according to Bloomberg. The deal was finalized in a
phone call on Friday between Trump and Chinese President Jijingping,
and the White House said the arrangement would be signed
(12:46):
in the coming days. Trump said, I hate to tell
you this, but a man named Lachlan is involved. Lachland
is That's a very unusual name. Lachlan Murdock and Rupert
is probably going to be in the group. I think
they're going to be in the group.
Speaker 2 (13:01):
End of quote.
Speaker 3 (13:02):
Trump also mentioned Larry Ellison, the chairman of Oracle, and
Michael Dell, chairman of Dell Inc. The TikTok deal designed
to comply with a bipartisan law that went into effect
in January twenty twenty five requiring parent company Byte Dance
Limited to divest from TikTok in the US would see
Byte Dance with a less than twenty percent steak.
Speaker 1 (13:24):
I love how he gives live updates on commercial negotiations.
Speaker 3 (13:28):
How they felt did they know their names are going
to get dropped in this I mean and a big
list of names too, Larry Ellison, Michael Dell, Rubbit, and LOCKLW.
Speaker 2 (13:35):
Murdoch.
Speaker 1 (13:36):
Yeah, he didn't miss anyone.
Speaker 2 (13:37):
Now one more.
Speaker 1 (13:38):
Adam and Video has taken the top spot among the
most better gainst by investors, with Tesla, Microsoft, and Apple
coming in at numbers two, three, and four. It demonstrates
that many investors believe big tech is way overpriced.
Speaker 3 (13:54):
Yes, the data from S three Partners effectively shows the
companies that investors think will four in price. Shortening of
stock means investing on the basis that a company's share
price will actually fall. So while Apple used to be
the most shortened stock on Wall Street, it's Nvidia now.
Thanks to its meteoric rise in recent months, the share
price of the biggest company on Wall Street is up
(14:16):
nearly fifty percent in the past six months. For a
few years now, investors have predicted big tech to crash.
It hasn't happened yet, Michael, thanks in large part to
the Ai revolution. But still, these are the names of
the most shorted stocks in the world.
Speaker 1 (14:32):
All right up next, Adam is fear and Greed Q
and A. And our guest today is Derek Gascoigne who
is coming to us from unisuper a great supporter of
this podcast, and talking about some of the mistakes, the
most common mistakes made by retirees or people preparing for retirement.
And there's a bit of busting some myths and misconceptions
along the way, including how much you actually need to
(14:55):
have a comfortable retirement, and he goes right into some
of the stats, some of the figures that he has
seen clients have in the past. So it is a
great conversation. It is coming up next to the Fear
and Greed playlist on your podcast platform or at Fearandgreed
dot com dodau.
Speaker 2 (15:12):
Thank you, Adam, Thank you Michael.
Speaker 1 (15:13):
It is Tuesday, the twenty third of September twenty twenty five.
Make sure you're following the podcast and please join us
online on LinkedIn, Instagram, ex TikTok and Facebook. I'm Michael
Thompson and that was Fear and Greed. Have a great day.
Welcome to Fear and Greed business news you can use today.
The Reserve Bank governor gives an upbeat assessment to the
local economy, but WARN's international pressure's lurk. Prime Minister Anthony
Abneasy questions whether the optist boss, Stephen Rue should keep
his job, and Australia formally recognizes the Palestinian state. Plus
investors take big bets on the share prices of the
(00:28):
big tech companies falling and the rush to buy granny flats.
It is Tuesday, the twenty third of September twenty twenty five.
I'm Michael Thompson and good morning, Adam Lange.
Speaker 2 (00:38):
Good morning, Michael, Adam.
Speaker 1 (00:40):
The main story this morning Reserve Bank of Australia Governor
Michelle Bullock appeared before a parliamentary committee yesterday and it
was a very wide ranging discussion, but if we kind
of get to the heart of it, the basic message
was the local economy is recovering well at the moment,
supported by interest rate cuts, but and it's a big butt,
(01:01):
the global economic uncertainty could really spoil the party.
Speaker 2 (01:06):
Yeah, Michael.
Speaker 3 (01:07):
It was a broad appraisal and starting with the economy,
Governor Michelle Bullock said the recovery in household consumption is
forecast to keep going and the inflation outlook is good,
with prices likely to settle in the middle of the
Central Bank's target range of two to three percent. Now
recent rate carts can be seen already impacting the housing
(01:27):
market and consumption.
Speaker 2 (01:28):
She said.
Speaker 3 (01:29):
The global environment is particularly uncertain and unpredictable, but given
where interest rates are today, there is room to move
if things go downhill. The economy is close to full
employment and that is one of the main RBA goals,
but productivity growth has not picked up and there is
pressure on labor costs, so the RBA governor said one
of the reasons for the low productivity rate is the
(01:51):
rise of non market industries such as health, education, and
the public service. While they have a lower productivity rate,
they are essentially to an advanced economy.
Speaker 2 (02:01):
We all need them, she added.
Speaker 3 (02:03):
Bullock said the economy is seeing a step change in
the world trading system, which has the potential to trigger
a market downturn. She pointedly said that there isn't a
great deal of risk priced into equities, adding that there
wasn't a lot of risk price into high credit. Risk companies.
Reading between the lines, Bullock is saying market valuations might
(02:23):
be just a little bit too high at the moment.
Speaker 1 (02:26):
Yeah, that is an interesting point that one Adam and
our colleague, our Fear and Greed colleague, Sean Almer digs
into that in the editorial in today's newsletter. If you
haven't signed up to that one already, there's a link
in today's show notes. You can do it a Fearangreed
dot com today you. But apart from the economy, Michelle
Bullock had a lot to say. She disagreed with the
big banks that lower interchange fees, which are paid by
(02:48):
merchants to banks that issue credit cards, would reduce fraud prevention.
She also said that frequent flyer points were designed to
drive wealthy Australians to use their credit cards and that
was paid for by younger and lower income consumers.
Speaker 3 (03:03):
Michelle Bullock said she was somewhat surprised at comments made
by New Australian Banking Association CEO Simon Birmingham last week
that the Reserve Bank of Australia's planned intervention on interchange
fees could lead to weaker consumer protection at a time
when Australians are losing billions of dollars a year to scams.
Another issue causing the governor a few headaches is the
(03:25):
renovation of the headquarters of the Reserve Bank at sixty
Martin Place. Bullock has low confidence at the cost, which
has blown out to one point two billion dollars from
the initial estimate of two hundred and sixty million, will
be kept at that level. The figure has jumped on
the back of a major asbestos problem and the project
has transformed from a refurbishment to a knockdown rebuild for
(03:49):
our reserve bank. Isn't it funny that we're having that
problem with the Reserve Bank here? And the FED had
very similar challenges with blowouts on building renovations and refurbishments
in the US as well, so it seems to be
a problem common to central banks. I mean that is
only two but I mean that's almost a trend, right, Yeah.
Speaker 2 (04:10):
High risk.
Speaker 3 (04:10):
But how's that two hundred and sixty million becomes one
point two billion and Michelle Bullock doesn't have confidence in
that number staying capped to that level.
Speaker 2 (04:20):
So it could go even further.
Speaker 1 (04:22):
Yeah, not good at all. Okay, moving away now from
the Reserve Bank Adam. The federal government will review whether
Optis and at Singaporean parent company Singtel have underinvested in
their networks, while Prime Minister Anthony up an easiest question
whether the Optis chief executive, Stephen Rue, should keep his job.
Speaker 3 (04:41):
Yeah, Michael, this is difficult terrain. We know there is
tragedy involved in this story. A failure in the Optus
Triple zero service last week due to a network failure
resulted in three people dying. Mister Rue said initial investigations
suggest that the proper process wasn't followed by operators. Yesterday,
the government said new legislation may be necessary to prevent
(05:02):
similar emergency call failures in the future, and it would
look into whether Optus had underinvested in its network. Reform
measures that were suggested after Optus's last major network outage
in twenty twenty three, including the start of temporary disaster
roaming tests, have not yet been implemented. The roaming test
would force rival network providers to share their infrastructure during disasters. Meanwhile,
(05:28):
speaking to ABC News Breakfast from the UN General Assembly
in New York, Prime Minister Anthony Albanezi said he would
be surprised if r was not considering his position. After
the triple zero failure last week, the Prime Minister promised
a thorough investigation of the outage, saying Optus's behavior was
completely unacceptable.
Speaker 1 (05:47):
Okay, Taking a look now at local markets, the Australians
share market closed up zero point four percent yesterday adam
to eighty eight hundred and eleven points a rally in
mining stocks and amid a broad uptick in commodity prices. Well,
that was really the driving yesterday and it was offset
somewhat by losses in financials.
Speaker 2 (06:07):
Yeah, that's right, Michael.
Speaker 3 (06:08):
Resource stocks jumped due to a rise in iron ore, copper, lithium,
and gold prices. Fortes Ke Metals, Rio Tinto and BHP
were all higher. Gold stocks rose on the back of
a higher price for the precious metal, with Northern Star
surging and the big banks generally and relatively underperformed. In
corporate news, biotech staff farmer sowed more than sixty percent
(06:30):
after agreeing to a licensing agreement with Genetech to develop
new cancer therapies and plumbing supplies. Group Reeese jumped on
the back of plans to buy back two hundred and
fifty million dollars worth of shares.
Speaker 1 (06:43):
All right, we still have a fair bit to cover, Adam.
Let's take a very quick break. We'll be back in
a moment with the rest of the day's business news.
Speaker 2 (06:56):
Adam.
Speaker 1 (06:57):
Israeli Prime Minister Benjamin Netanyahu hasud there will never be
a Palestinian state after Australia, Canada and Britain simultaneously recognized
the state of Palestine.
Speaker 3 (07:08):
Here Michael Netnia, who threatened reprisals and accused Prime Minister
Anthony Albanesi and the other countries' leaders of rewarding terror.
He said there would be no Palestinian state to the
west of the Jordan River, and analysts now expect Israel
will push to annex the West Bank and increase the
construction of settlements. Albanzi said the cycle of violence needs
(07:28):
to end, highlighting the humanitarian catastrophe that's unfolding in Gaza.
Australia has said it will not establish an embassy or
any other diplomatic infrastructure unless the Palestinian authority recognizes Israel's
right to exist, agrees to hold democratic elections, and disavows hamas.
Speaker 1 (07:47):
Adam Federal Treasury has been presented with a model to
support bank branches in the bush that would see the
country's nine largest lenders transfer one hundred and fifty three
million dollars each year to smaller banks under an alternative
plan for a rural banking levee.
Speaker 3 (08:03):
Here, Michael, this is really interesting and as according to
a reporting the Australian Financial Review, the plan submitted to
Treasury by the Regional Banking Investment Alliance would provide financial
support for five thousand bank branch workers in regional locations.
The model would provide a three hundred thousand dollars subsidy
to every regional or remote bank branch. This would be
(08:24):
funded by contributions from banks based on the size of
their lending. The cross subsidy model attempts to share the
high cost of operating branches in remote, low population areas.
The three hundred thousand dollars per branch subsidy is estimated
to represent around one third of the actual cost of
a branch, providing a meaningful contribution to its running costs.
(08:45):
Under the proposed model, which has been considered by Treasury officials,
nine banks, including each of the major banks, IG and Macquarie,
would be net payers of one hundred and fifty three
million dollars a year, while thirty seven banks would be
receivers of the funding.
Speaker 1 (09:02):
Now, Adam, this next story combines two of our great loves.
I love talking about property, you love talking about data.
So this is a report from Domain, the online property group,
and it tells us that granny flats are back in fashion.
Budget conscious home buyers are looking for cheaper options across
(09:23):
the country and granny flats are right up there.
Speaker 2 (09:26):
Yeah.
Speaker 3 (09:27):
We had Sean talking last week about building a fence
slash mote around his property at home, and here we've
got some brand new trends that are coming back. People
are looking for affordable, flexible living arrangements and granny flats
are having their moment. Domain suggests that reflects both multi
generational living and rental income potential. So the research examines
(09:48):
what people are searching for and granny flats with a
most searched term in Sydney and there is a surge
in interest in Perth and Adelaide. Searches for duel or
dual living have skyrocketed as well. Despite for now actual pressures,
lifestyle remains a top priority. Paul continues to rank in
the top five searches across all capital cities. In Melbourne,
(10:09):
character homes are back in vogue and art deco is
in the top spot, while heritage is also up in
the search category. So while three bedroom houses remain the
most searched property type nationally, many buyers are adjusting their expectations.
Townhouses and units are gaining traction as more budget conscious alternatives,
(10:29):
especially in high demand areas.
Speaker 1 (10:32):
There's so much in all of that.
Speaker 2 (10:33):
I love it.
Speaker 1 (10:34):
I just love the fact that granny flats have just
kind of had a massive resurgence and that they number
one in Sydney, in the top ten for Brisbane and
adelaide go the granny.
Speaker 2 (10:43):
Flat, Michael, aren't you working from one right now?
Speaker 3 (10:46):
Yes, we don't call it a granny flat. There's no
granny there.
Speaker 1 (10:50):
My home office and everything is set up in the
in the granny flat. And was this subject of much
DIY disaster in the process, But it's all better now.
It's better now, as long as I don't touch anything
good now. Beef prices Adam are on the rise, with
Australia's process a cow indicator the combination of words I've
(11:13):
never said before, reaching a record high price. As the
United States ramps up imports of lean beef.
Speaker 3 (11:20):
Yeah, Michael, the indicator has gone beyond three hundred and
ninety cents a kilogram for the first time, and he's
up more than thirty percent over the past year. Meat
and Livestock Australia says there is a global shortage of
lean beef and that's pushing up prices, with output from
the US particularly weak. Lean beef, as the name suggests,
has less fat content and that's around fifteen percent compared
(11:42):
with regular beef at around twenty five percent. The US
Department of Agriculture is forecasting beef imports will reach five
point three six billion pounds this year, and that was
fifteen point seven percent higher than the year before. Brazil
is the largest supplier, followed by Australia. However, with a
fifty percent tariff placed on Brazilian imports into the US,
(12:05):
Ossie beef is likely to be in demand.
Speaker 2 (12:08):
There you go.
Speaker 1 (12:08):
Turning to international news now, Adam and President Donald Trump
has suggested that Fox Corp. Chairman Lachlan Murdoch and his
father Rupert are involved in the US takeover of the
video app TikTok from its Chinese owners.
Speaker 2 (12:24):
Yes.
Speaker 3 (12:25):
In an interview, Donald Trump was asked to name the
individuals investing in TikTok. It follows the White House announcing
over the weekend that the US operations of TikTok will
be majority owned and controlled by American investors, and this
is according to Bloomberg. The deal was finalized in a
phone call on Friday between Trump and Chinese President Jijingping,
and the White House said the arrangement would be signed
(12:46):
in the coming days. Trump said, I hate to tell
you this, but a man named Lachlan is involved. Lachland
is That's a very unusual name. Lachlan Murdock and Rupert
is probably going to be in the group. I think
they're going to be in the group.
Speaker 2 (13:01):
End of quote.
Speaker 3 (13:02):
Trump also mentioned Larry Ellison, the chairman of Oracle, and
Michael Dell, chairman of Dell Inc. The TikTok deal designed
to comply with a bipartisan law that went into effect
in January twenty twenty five requiring parent company Byte Dance
Limited to divest from TikTok in the US would see
Byte Dance with a less than twenty percent steak.
Speaker 1 (13:24):
I love how he gives live updates on commercial negotiations.
Speaker 3 (13:28):
How they felt did they know their names are going
to get dropped in this I mean and a big
list of names too, Larry Ellison, Michael Dell, Rubbit, and LOCKLW.
Speaker 2 (13:35):
Murdoch.
Speaker 1 (13:36):
Yeah, he didn't miss anyone.
Speaker 2 (13:37):
Now one more.
Speaker 1 (13:38):
Adam and Video has taken the top spot among the
most better gainst by investors, with Tesla, Microsoft, and Apple
coming in at numbers two, three, and four. It demonstrates
that many investors believe big tech is way overpriced.
Speaker 3 (13:54):
Yes, the data from S three Partners effectively shows the
companies that investors think will four in price. Shortening of
stock means investing on the basis that a company's share
price will actually fall. So while Apple used to be
the most shortened stock on Wall Street, it's Nvidia now.
Thanks to its meteoric rise in recent months, the share
price of the biggest company on Wall Street is up
(14:16):
nearly fifty percent in the past six months. For a
few years now, investors have predicted big tech to crash.
It hasn't happened yet, Michael, thanks in large part to
the Ai revolution. But still, these are the names of
the most shorted stocks in the world.
Speaker 1 (14:32):
All right up next, Adam is fear and Greed Q
and A. And our guest today is Derek Gascoigne who
is coming to us from unisuper a great supporter of
this podcast, and talking about some of the mistakes, the
most common mistakes made by retirees or people preparing for retirement.
And there's a bit of busting some myths and misconceptions
along the way, including how much you actually need to
(14:55):
have a comfortable retirement, and he goes right into some
of the stats, some of the figures that he has
seen clients have in the past. So it is a
great conversation. It is coming up next to the Fear
and Greed playlist on your podcast platform or at Fearandgreed
dot com dodau.
Speaker 2 (15:12):
Thank you, Adam, Thank you Michael.
Speaker 1 (15:13):
It is Tuesday, the twenty third of September twenty twenty five.
Make sure you're following the podcast and please join us
online on LinkedIn, Instagram, ex TikTok and Facebook. I'm Michael
Thompson and that was Fear and Greed. Have a great day.
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