July 9, 2025 • 16 mins
Thursday 10 July 2025
BHP, Rio Tinto, CSL and other Australian companies set to be hit in the latest round of Trump tariffs.
And more, including:
- Qantas says stolen data is yet to be released by hackers.
- Life insurers warn on what growing mental health claims will mean for premiums.
- The near 1,000 year old Bayeux Tapestry returns home.
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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, HP,
Rio Tinto, CSL and other Australian companies are set to
be hit and the latest round of Trump Tariff's quantas
says stolen data is yet to be released by hackers.
And business banking gets competitive, plus life insurance worn on
what growing mental health claims will mean for premiums. And
(00:28):
one of the world's most famous pieces of art, the
near one thousand year old Bayu Tapestry, returns home. It's Thursday,
the tenth of July twenty twenty five. I'm Adam Lang
and good morning. Sean Almer.
Speaker 2 (00:41):
Good morning, Adam. I just want listeners to know when
we're talking about the Bayu Tapestry. I did ask you
offhanded whether you knew what it was, yes, and you
kind of got it sort of you didn't. And then
when I told you what it was, you then went
and gave me the whole history, the dates, the Kings,
very frustrated religiously with it. I thought I'd beaten you
(01:03):
on a fact, but no, I hadn't. Anyway, Sean.
Speaker 1 (01:06):
The main story this morning, BHP and Rio Tinto are
set to be hit by huge new copper tariffs imposed
by the Trump White House, while local pharmaceutical companies are
set to be smacked with two hundred percent imposts.
Speaker 2 (01:19):
The announcement by Donald Trump sent the share prices of
local copper producers like Sandfire Resources, Capstone and Evolution Mining tumbling,
though BHP in Rio's share price held up pretty well.
Copper is considered a benchmark commodity in the US. Imports
about half of what it needs, but Trump wants to
produce more of it at home. He announced a fifty
(01:40):
percent tariff on copper in the hope that it will
force more local production. BHP and RIO are two of
the biggest copper producers in the world. RIOS focused on Mongolia,
Chile in the US, BHP on Chile, Peru and South Australia.
Much of the copper mind from those countries and those
mines ends up in the UK US. They'll be hit
(02:01):
by tariffs. That's the bad news. The good news is
that HP and RIO own possibly the largest copper mine
in the US. It's called Resolution copper. It could supply
about one quarter of the US's needs. It could benefit
massively from the tariffs. The problem so far is the
BHP and RIO really haven't been able to make it work,
(02:23):
mostly due to native title and environmental disputes. Now, Trump's announcement,
as is usual, came a few details, so both mining
giants thus far aren't commenting. He has previously helped with
resolution copper getting through some of the getting through some
of the de bureaucracy on that he may still well
(02:44):
do that. And given that they're sitting on what could
be twenty five percent of the US's copper needs, it
may actually be a good thing BHP and RIO ultimately.
Speaker 1 (02:51):
But everyone else maybe not. Sean. Shifting to the drug sector,
and of course I mean the legal drug sector, Donald
Trump said he planned to produced tariffs on imported pharmaceuticals
which could reach two hundred percent, and that will hit
local producers.
Speaker 2 (03:06):
First comment is that no one thought that we're talking
about the illegal drug sector except for you.
Speaker 1 (03:10):
With all sorts of business here at fear and greed.
Speaker 2 (03:12):
The President says he will give drug companies about one
year two, as he put it, get their act together.
The US is the biggest and richest market for pharmaceuticals,
so massive tariffs will have major implications for drug makers everywhere,
including Australia. We sell about two billion dollars of drugs
into the US. CSL, Australia's third largest company, is an
example of a seller into the US. It says it's
(03:34):
monitoring the situation. Its share price was down one percent yesterday.
Bit of a sticky or tricky part here is the
Pharmaceutical Benefit Scheme. It subsidizes the cost of medicines in
part by purchasing them in bulk. It's nearly eighteen billion
dollar scheme provides nine hundred and thirty different medicines at
a universal discount rate. You could well argue accurately that
(03:58):
it is protectionist. So that's something that the government will
have to negotiate with the US at some point.
Speaker 1 (04:05):
More delicacies involved, Sean. The tariff debate is causing a
headache for the federal government, with Treasurer Jim Charmer's avoiding
questions about whether camera can still trust the US, particularly
if it allies, particularly if allies like South Korea can
be hit with big tariffs.
Speaker 2 (04:22):
Chalmers says the tariff's post a threat to global trade
growth and progress being made in economy's post COVID. He
says that trump comments from yesterday are very concerning, particularly
for the pharmaceutical companies, adding that negotiations over the PBS,
the pharmaceutical benefits scheme, are off the table. Trump is
progressively rolling out new tariff letters to different countries, which
(04:43):
are then posted on social media, of course, outlining the
US's position. We haven't been hit yet, we haven't heard,
we haven't received a tariff letter yet, but I'm sure
one is in the post or.
Speaker 1 (04:55):
Via truth social which ever comes first. That's right, Sean.
Before we leave the charat debate, Reserve Bank of Australia
Deputy Governor Andrew Houser has issued a warning about the
risks to the global economy and this one has got
a distinctly American flavor.
Speaker 2 (05:09):
Yes, the reserve being held interest rates steady at three
point eight five percent on Tuesday, and Howser has flagged
serious concerns about Donald Trump's tariffs. Speaking at the Economic
Society of Australia, he said the impact on Australia could
be profound, that was his word, particularly through global supply
chains and investor conference. He even compared the threat to
the economic upheaval of Brexit, he being a brit where
(05:32):
at first not much seemed to change. Then the effects
became slow, movie moving but deeply disruptive, Sean.
Speaker 1 (05:39):
Amongst all of this, how did the local markets perform yesterday?
Speaker 2 (05:42):
Well, the smbisx two hundred dropped in the first thirty
minutes of training, clawed its way back to be in
positive territory, then tumbled at the end of the day
lost all that hard work, closed down zero point six
percent to eighty five hundred and thirty one points. Are
drop in the price of gold hit the miners of
the precious metal in Neumont, Percy, Northern Star. They are
all lower interest rate sensitive stocks. Notably, property companies fell
(06:05):
on the back of Tuesday's decision by the Reserve Bank
to not cut interest rates. Goodman Group, for example, it
was down two point three we sent the worst performer
of the megastocks, and uranium companies also fell back in
line with the price of yellowcake. The big banks were
mixed big minus well. Quiry Group fell more than two
percent Adam.
Speaker 1 (06:23):
Thank you, Sean, and for anyone listening who wants to
get all of that summarized with some different perspective and
a lot more, go to the website to sign up
for our daily newsletter. We'll be back in a moment
with the rest of the day's business news. Sean Moving
to Quantus, it says it's yet to see any of
(06:44):
the personal data hacked from the airline in the public domain,
and has warned frequent fly customers to not provide information
to anyone calling them purporting to be from Quantus.
Speaker 2 (06:54):
Yesterday, Quantus said two point eight million frequent flyer numbers,
names and email addresses were stolen, along with details about
status tiers, credits, and points balances. For a portion of
those customers. Another one point two million customer records contained
only names and email addresses. The remaining one point seven
million records including a combination of addresses, birthdates, phone numbers, gender,
(07:14):
and one for you male preferences so we know, gluten
free gluten free. The data breach occurred on June thirty,
when a Quantus call center operated was tricked into opening
access to a third party system, allowing hackers to steal
customer information. The airline urged customers not to provide passwords
or any personal or financial information if contacted by anyone
(07:37):
purporting to be from Quantus.
Speaker 1 (07:39):
Shorn to insurance, almost half of all payouts from life
insurers are linked to mental health, and industry leaders are
expecting the growing crisis to worsen as more young people
claim they are unable to work due to severe anxiety, depression,
and post traumatic stress disorder.
Speaker 2 (07:57):
Life insurance companies paid out a record two point two
b billion dollars in claims related to mental illness in
twenty twenty four, up from one point two billion five
years ago. Stress burnout and bullying at work are among
the leading reasons claimants give for being unable to return
to the walk workforce, along with divorce, financial strife, traumatic experiences,
(08:18):
and mood disorders such as depression. According to a report
in the finn Review, one study shows permanent disability claims
by those in their thirties increased by more than seven
hundred percent in the decade to twenty twenty two, now
comprising more than a third of all such claims, so
more than the third of claims of people under thirty
(08:38):
when they're claiming permanent disability very upsetting. Of the five
point five billion dollars in payouts last year, forty four
percent were linked to mental ill health rather than a
physical condition or injury. According to Council of Australian life insurers.
Secular leaders are now warning that the rise in mental
health payouts will lead to higher premiums, radical changes to
eligibility criteria and the denial of many more claims.
Speaker 1 (09:01):
Shawn. The business banking sector, traditionally dominated by National Australia Bank,
is getting crowded, with Commonwealth Bank and Westpac pushing hard
into the sector. And that's alongside Mcquarybank, AMP Bank and
now accounting software PROVIDERYOB.
Speaker 2 (09:16):
MIOB is set to launch transaction accounts for sole traders,
quoting figures that show three quarters of Australia's one point
six million sole traders don't have a business banking account.
The MIOB business transaction accounts will draw on the banking
license of Great Southern Bank. It'll be branded Solo Money
and the banking sector business landing can be more profitable
than mortgage landing. It can not always, but it can.
(09:40):
It's really prompted to push into that sector over the
past twelve months. It hasn't been anywhere near as competitive
as mortgage rates. So Commonwealth Bank's in there, Westpacs in there,
as you mentioned, AMP Bank, Mcquarybank, They're all in there.
We've now got moob. The winners from all this, Adam, Yes,
should be customers, more competition, better deal.
Speaker 1 (10:00):
Sean G eight Education, one of Australia's largest childcare providers,
Williams store CCTV cameras inside all four hundred of its
centers after a former employee was charged with more than
seventy abuse offenses.
Speaker 2 (10:14):
The company has already banned staff from using personal devices
while working in its center's rooms. The company will also
provide parents with the opportunity to provide preferences on who
supports their child's personal care routines. G eight will also
advocate for a national registry for working with vulnerable people,
including working with children. Its share prices dropped twenty percent
since the charges were revealed.
Speaker 1 (10:34):
Retirement living operator Lifestyle Community shares hit the boors yesterday,
having been suspended since Monday, and its price tumbled more
than forty percent before closing down thirty seven percent.
Speaker 2 (10:46):
Our whack yep yep It follows a Victorian tribunal ruling
that the exit fees the business charges to departing residents
are invalid. The Victorian Civil and Administrative Tribunal found that
life hostyle communities had breached tenancy laws by failing to
clearly disclose deferred management fees in its residential site agreements.
(11:07):
Lifestyle says it will appeal the finding.
Speaker 1 (11:10):
Sean one local health company to do well yesterday thanks
to goings on in the US is Telex Pharmaceuticals, the
therapeutic and diagnostic imaging group.
Speaker 2 (11:19):
Its share price finished up more than six percent, the
best of the top two hundred after announcing its prostate
cancer imaging product, go Xelix has been granted a permanent
code by the US Centers for Medicare and Medicaid Services.
What does that mean? Basically means the product. Is this
a big step closer to being used regularly in the
US for the diagnosis of prostate cancer, which is the
(11:40):
second most common cancer in men in the US, with
about three hundred and fourteen thousand new cases diagnosed each year.
Speaker 1 (11:46):
Sure that is a game change for Telex Pharmaceuticals and
obviously for potential patients.
Speaker 2 (11:51):
Yes, it's still got steps to get there, but it's
certainly a big step forward.
Speaker 1 (11:54):
Exciting. In international news, Donald Trump has taken aim of
the boss of the Federal Reserve and Russian President Vladimir
Putin sparing neither of them from his wrath.
Speaker 2 (12:04):
Starting with Jeram wrath or wrath.
Speaker 1 (12:08):
The wrath of God, the God.
Speaker 2 (12:11):
I like wrath, like wrath. I'm more of a wrath man.
Speaker 1 (12:15):
It's your show.
Speaker 2 (12:17):
It's our show. Starting with Jerome Bowl, chair of the
Federal Reserve, who Trump called terrible his word. Trump accused
him of and I quote, whining like a baby about
non existent inflation for months and refusing to do the
right thing. He then went into Caps cut interest rates. Jerome,
now is the time.
Speaker 1 (12:39):
Extraordinary, But I'm becoming used to the all.
Speaker 2 (12:41):
Caps went on to putin Trump reiterated plants and send
more weapons to Ukraine, telling a cabinet meeting and I quote,
I'm not happy with Pertin. I can tell you that
much right now, because he's killing a lot of people.
We get a lot of bullshit thrown at us by Pertin.
You want to know the truth. He is very nice
all the time, but it turns out to be meaningless.
Ends quote.
Speaker 1 (13:02):
Okay, deep breath, move on, Sean, moving to a wonderful story.
The embroidered work of medieval art known as the Bayeux Tapestry,
a masterpiece that depicts the Norman conquest of England in
ten sixty six, will return to Britain for the first
time in centuries. And this is according to the British Museum,
where it will be displayed in London starting next year.
Speaker 2 (13:24):
This is big, big, big, big view. If you like
UK history, right, this is the big one. The Bayu
Tapestry is the world's most famous piece of medieval art.
The alone, announced this week as part of a state
visit by President Emanuel mccron of France to the UK,
marks the first time that the tapestry will be in
Britain since its creation more than nine hundred years ago.
(13:48):
According to New York Times, the roughly seventy meter long
art work, which was made in the years after the conquest,
depicts the Norman invasion of England and the Battle of Hastings.
Now that conflict allowed William the Conqueror to take the
throne from Harold Godwinson. He became the first Norman King
of England and effectively united the country. He brought lots
(14:11):
of his friends and family into the UK. They took
up all the land and we kind of got it
was really the beginning of England of Britain as we
know it today. The tapestry is widely believed to have
been made in England in the eleventh century, according to
the British Museum, likely commissioned by William's half brother. Really
has spent nine hundred and fifty thousand years away from home.
(14:35):
It's back, Adam. You are married to a brit Your
family must be very excited.
Speaker 1 (14:39):
It's coming home. Oh, we'll go and see it. Seventy
meters long. How do you transport that?
Speaker 2 (14:44):
Well, what's really fascinating about the Bay Tapestry is it's
one of the very few, possibly the only record of
the history of Hastings.
Speaker 1 (14:52):
Yeah, incredible. Now, immediately after the show, Sean, You've got
a great chat coming up with Sandy Mack from Cause
Chambers Westcarth tell us about that.
Speaker 2 (15:00):
So at the end of every year we talked to
Sandy about what's going on in the m and A market.
But because we've had some really big deals think Santos,
Think to Maine, we decided to get Sandy in and
ask her about why we're seeing so many big deals
where they're going to get across the line. The Santos
one is a particularly interesting one. We also talk about it.
She is James Hardy and the AZEC one where local
(15:22):
shareholders didn't get to vote on it. We talk about
basically the state of the M and A industry, what's
going on, Will there be more and I mean, I
think what we kind of decided at the end of
the last financially, if you really want to make money
in the share market basically by a company that's going
to get taken over, so Ostill Holdings that shipbuilder did
so well. Now the problem is you don't know that's
going to happen, but it was a good reason to
(15:44):
update the whole M and A thing. There's going to
be a bit of it going on.
Speaker 1 (15:48):
It's a ripper and the conversations behind those secure closed doors, God,
they'd be fascinating.
Speaker 2 (15:54):
Yeah.
Speaker 1 (15:55):
Well right, that's up next to the Fear and Greed
playlist on your favorite podcast platform or at Fear and
Greed dot com dot au. Thank you, Sean, Thank you
very much. It's Thursday, the tenth of July twenty twenty five.
Make sure you're following the podcast. Join us online on LinkedIn, Instagram,
x TikTok and Facebook, and please have a great day.
Welcome to Fear and Greed business news you can use Today, HP,
Rio Tinto, CSL and other Australian companies are set to
be hit and the latest round of Trump Tariff's quantas
says stolen data is yet to be released by hackers.
And business banking gets competitive, plus life insurance worn on
what growing mental health claims will mean for premiums. And
(00:28):
one of the world's most famous pieces of art, the
near one thousand year old Bayu Tapestry, returns home. It's Thursday,
the tenth of July twenty twenty five. I'm Adam Lang
and good morning. Sean Almer.
Speaker 2 (00:41):
Good morning, Adam. I just want listeners to know when
we're talking about the Bayu Tapestry. I did ask you
offhanded whether you knew what it was, yes, and you
kind of got it sort of you didn't. And then
when I told you what it was, you then went
and gave me the whole history, the dates, the Kings,
very frustrated religiously with it. I thought I'd beaten you
(01:03):
on a fact, but no, I hadn't. Anyway, Sean.
Speaker 1 (01:06):
The main story this morning, BHP and Rio Tinto are
set to be hit by huge new copper tariffs imposed
by the Trump White House, while local pharmaceutical companies are
set to be smacked with two hundred percent imposts.
Speaker 2 (01:19):
The announcement by Donald Trump sent the share prices of
local copper producers like Sandfire Resources, Capstone and Evolution Mining tumbling,
though BHP in Rio's share price held up pretty well.
Copper is considered a benchmark commodity in the US. Imports
about half of what it needs, but Trump wants to
produce more of it at home. He announced a fifty
(01:40):
percent tariff on copper in the hope that it will
force more local production. BHP and RIO are two of
the biggest copper producers in the world. RIOS focused on Mongolia,
Chile in the US, BHP on Chile, Peru and South Australia.
Much of the copper mind from those countries and those
mines ends up in the UK US. They'll be hit
(02:01):
by tariffs. That's the bad news. The good news is
that HP and RIO own possibly the largest copper mine
in the US. It's called Resolution copper. It could supply
about one quarter of the US's needs. It could benefit
massively from the tariffs. The problem so far is the
BHP and RIO really haven't been able to make it work,
(02:23):
mostly due to native title and environmental disputes. Now, Trump's announcement,
as is usual, came a few details, so both mining
giants thus far aren't commenting. He has previously helped with
resolution copper getting through some of the getting through some
of the de bureaucracy on that he may still well
(02:44):
do that. And given that they're sitting on what could
be twenty five percent of the US's copper needs, it
may actually be a good thing BHP and RIO ultimately.
Speaker 1 (02:51):
But everyone else maybe not. Sean. Shifting to the drug sector,
and of course I mean the legal drug sector, Donald
Trump said he planned to produced tariffs on imported pharmaceuticals
which could reach two hundred percent, and that will hit
local producers.
Speaker 2 (03:06):
First comment is that no one thought that we're talking
about the illegal drug sector except for you.
Speaker 1 (03:10):
With all sorts of business here at fear and greed.
Speaker 2 (03:12):
The President says he will give drug companies about one
year two, as he put it, get their act together.
The US is the biggest and richest market for pharmaceuticals,
so massive tariffs will have major implications for drug makers everywhere,
including Australia. We sell about two billion dollars of drugs
into the US. CSL, Australia's third largest company, is an
example of a seller into the US. It says it's
(03:34):
monitoring the situation. Its share price was down one percent yesterday.
Bit of a sticky or tricky part here is the
Pharmaceutical Benefit Scheme. It subsidizes the cost of medicines in
part by purchasing them in bulk. It's nearly eighteen billion
dollar scheme provides nine hundred and thirty different medicines at
a universal discount rate. You could well argue accurately that
(03:58):
it is protectionist. So that's something that the government will
have to negotiate with the US at some point.
Speaker 1 (04:05):
More delicacies involved, Sean. The tariff debate is causing a
headache for the federal government, with Treasurer Jim Charmer's avoiding
questions about whether camera can still trust the US, particularly
if it allies, particularly if allies like South Korea can
be hit with big tariffs.
Speaker 2 (04:22):
Chalmers says the tariff's post a threat to global trade
growth and progress being made in economy's post COVID. He
says that trump comments from yesterday are very concerning, particularly
for the pharmaceutical companies, adding that negotiations over the PBS,
the pharmaceutical benefits scheme, are off the table. Trump is
progressively rolling out new tariff letters to different countries, which
(04:43):
are then posted on social media, of course, outlining the
US's position. We haven't been hit yet, we haven't heard,
we haven't received a tariff letter yet, but I'm sure
one is in the post or.
Speaker 1 (04:55):
Via truth social which ever comes first. That's right, Sean.
Before we leave the charat debate, Reserve Bank of Australia
Deputy Governor Andrew Houser has issued a warning about the
risks to the global economy and this one has got
a distinctly American flavor.
Speaker 2 (05:09):
Yes, the reserve being held interest rates steady at three
point eight five percent on Tuesday, and Howser has flagged
serious concerns about Donald Trump's tariffs. Speaking at the Economic
Society of Australia, he said the impact on Australia could
be profound, that was his word, particularly through global supply
chains and investor conference. He even compared the threat to
the economic upheaval of Brexit, he being a brit where
(05:32):
at first not much seemed to change. Then the effects
became slow, movie moving but deeply disruptive, Sean.
Speaker 1 (05:39):
Amongst all of this, how did the local markets perform yesterday?
Speaker 2 (05:42):
Well, the smbisx two hundred dropped in the first thirty
minutes of training, clawed its way back to be in
positive territory, then tumbled at the end of the day
lost all that hard work, closed down zero point six
percent to eighty five hundred and thirty one points. Are
drop in the price of gold hit the miners of
the precious metal in Neumont, Percy, Northern Star. They are
all lower interest rate sensitive stocks. Notably, property companies fell
(06:05):
on the back of Tuesday's decision by the Reserve Bank
to not cut interest rates. Goodman Group, for example, it
was down two point three we sent the worst performer
of the megastocks, and uranium companies also fell back in
line with the price of yellowcake. The big banks were
mixed big minus well. Quiry Group fell more than two
percent Adam.
Speaker 1 (06:23):
Thank you, Sean, and for anyone listening who wants to
get all of that summarized with some different perspective and
a lot more, go to the website to sign up
for our daily newsletter. We'll be back in a moment
with the rest of the day's business news. Sean Moving
to Quantus, it says it's yet to see any of
(06:44):
the personal data hacked from the airline in the public domain,
and has warned frequent fly customers to not provide information
to anyone calling them purporting to be from Quantus.
Speaker 2 (06:54):
Yesterday, Quantus said two point eight million frequent flyer numbers,
names and email addresses were stolen, along with details about
status tiers, credits, and points balances. For a portion of
those customers. Another one point two million customer records contained
only names and email addresses. The remaining one point seven
million records including a combination of addresses, birthdates, phone numbers, gender,
(07:14):
and one for you male preferences so we know, gluten
free gluten free. The data breach occurred on June thirty,
when a Quantus call center operated was tricked into opening
access to a third party system, allowing hackers to steal
customer information. The airline urged customers not to provide passwords
or any personal or financial information if contacted by anyone
(07:37):
purporting to be from Quantus.
Speaker 1 (07:39):
Shorn to insurance, almost half of all payouts from life
insurers are linked to mental health, and industry leaders are
expecting the growing crisis to worsen as more young people
claim they are unable to work due to severe anxiety, depression,
and post traumatic stress disorder.
Speaker 2 (07:57):
Life insurance companies paid out a record two point two
b billion dollars in claims related to mental illness in
twenty twenty four, up from one point two billion five
years ago. Stress burnout and bullying at work are among
the leading reasons claimants give for being unable to return
to the walk workforce, along with divorce, financial strife, traumatic experiences,
(08:18):
and mood disorders such as depression. According to a report
in the finn Review, one study shows permanent disability claims
by those in their thirties increased by more than seven
hundred percent in the decade to twenty twenty two, now
comprising more than a third of all such claims, so
more than the third of claims of people under thirty
(08:38):
when they're claiming permanent disability very upsetting. Of the five
point five billion dollars in payouts last year, forty four
percent were linked to mental ill health rather than a
physical condition or injury. According to Council of Australian life insurers.
Secular leaders are now warning that the rise in mental
health payouts will lead to higher premiums, radical changes to
eligibility criteria and the denial of many more claims.
Speaker 1 (09:01):
Shawn. The business banking sector, traditionally dominated by National Australia Bank,
is getting crowded, with Commonwealth Bank and Westpac pushing hard
into the sector. And that's alongside Mcquarybank, AMP Bank and
now accounting software PROVIDERYOB.
Speaker 2 (09:16):
MIOB is set to launch transaction accounts for sole traders,
quoting figures that show three quarters of Australia's one point
six million sole traders don't have a business banking account.
The MIOB business transaction accounts will draw on the banking
license of Great Southern Bank. It'll be branded Solo Money
and the banking sector business landing can be more profitable
than mortgage landing. It can not always, but it can.
(09:40):
It's really prompted to push into that sector over the
past twelve months. It hasn't been anywhere near as competitive
as mortgage rates. So Commonwealth Bank's in there, Westpacs in there,
as you mentioned, AMP Bank, Mcquarybank, They're all in there.
We've now got moob. The winners from all this, Adam, Yes,
should be customers, more competition, better deal.
Speaker 1 (10:00):
Sean G eight Education, one of Australia's largest childcare providers,
Williams store CCTV cameras inside all four hundred of its
centers after a former employee was charged with more than
seventy abuse offenses.
Speaker 2 (10:14):
The company has already banned staff from using personal devices
while working in its center's rooms. The company will also
provide parents with the opportunity to provide preferences on who
supports their child's personal care routines. G eight will also
advocate for a national registry for working with vulnerable people,
including working with children. Its share prices dropped twenty percent
since the charges were revealed.
Speaker 1 (10:34):
Retirement living operator Lifestyle Community shares hit the boors yesterday,
having been suspended since Monday, and its price tumbled more
than forty percent before closing down thirty seven percent.
Speaker 2 (10:46):
Our whack yep yep It follows a Victorian tribunal ruling
that the exit fees the business charges to departing residents
are invalid. The Victorian Civil and Administrative Tribunal found that
life hostyle communities had breached tenancy laws by failing to
clearly disclose deferred management fees in its residential site agreements.
(11:07):
Lifestyle says it will appeal the finding.
Speaker 1 (11:10):
Sean one local health company to do well yesterday thanks
to goings on in the US is Telex Pharmaceuticals, the
therapeutic and diagnostic imaging group.
Speaker 2 (11:19):
Its share price finished up more than six percent, the
best of the top two hundred after announcing its prostate
cancer imaging product, go Xelix has been granted a permanent
code by the US Centers for Medicare and Medicaid Services.
What does that mean? Basically means the product. Is this
a big step closer to being used regularly in the
US for the diagnosis of prostate cancer, which is the
(11:40):
second most common cancer in men in the US, with
about three hundred and fourteen thousand new cases diagnosed each year.
Speaker 1 (11:46):
Sure that is a game change for Telex Pharmaceuticals and
obviously for potential patients.
Speaker 2 (11:51):
Yes, it's still got steps to get there, but it's
certainly a big step forward.
Speaker 1 (11:54):
Exciting. In international news, Donald Trump has taken aim of
the boss of the Federal Reserve and Russian President Vladimir
Putin sparing neither of them from his wrath.
Speaker 2 (12:04):
Starting with Jeram wrath or wrath.
Speaker 1 (12:08):
The wrath of God, the God.
Speaker 2 (12:11):
I like wrath, like wrath. I'm more of a wrath man.
Speaker 1 (12:15):
It's your show.
Speaker 2 (12:17):
It's our show. Starting with Jerome Bowl, chair of the
Federal Reserve, who Trump called terrible his word. Trump accused
him of and I quote, whining like a baby about
non existent inflation for months and refusing to do the
right thing. He then went into Caps cut interest rates. Jerome,
now is the time.
Speaker 1 (12:39):
Extraordinary, But I'm becoming used to the all.
Speaker 2 (12:41):
Caps went on to putin Trump reiterated plants and send
more weapons to Ukraine, telling a cabinet meeting and I quote,
I'm not happy with Pertin. I can tell you that
much right now, because he's killing a lot of people.
We get a lot of bullshit thrown at us by Pertin.
You want to know the truth. He is very nice
all the time, but it turns out to be meaningless.
Ends quote.
Speaker 1 (13:02):
Okay, deep breath, move on, Sean, moving to a wonderful story.
The embroidered work of medieval art known as the Bayeux Tapestry,
a masterpiece that depicts the Norman conquest of England in
ten sixty six, will return to Britain for the first
time in centuries. And this is according to the British Museum,
where it will be displayed in London starting next year.
Speaker 2 (13:24):
This is big, big, big, big view. If you like
UK history, right, this is the big one. The Bayu
Tapestry is the world's most famous piece of medieval art.
The alone, announced this week as part of a state
visit by President Emanuel mccron of France to the UK,
marks the first time that the tapestry will be in
Britain since its creation more than nine hundred years ago.
(13:48):
According to New York Times, the roughly seventy meter long
art work, which was made in the years after the conquest,
depicts the Norman invasion of England and the Battle of Hastings.
Now that conflict allowed William the Conqueror to take the
throne from Harold Godwinson. He became the first Norman King
of England and effectively united the country. He brought lots
(14:11):
of his friends and family into the UK. They took
up all the land and we kind of got it
was really the beginning of England of Britain as we
know it today. The tapestry is widely believed to have
been made in England in the eleventh century, according to
the British Museum, likely commissioned by William's half brother. Really
has spent nine hundred and fifty thousand years away from home.
(14:35):
It's back, Adam. You are married to a brit Your
family must be very excited.
Speaker 1 (14:39):
It's coming home. Oh, we'll go and see it. Seventy
meters long. How do you transport that?
Speaker 2 (14:44):
Well, what's really fascinating about the Bay Tapestry is it's
one of the very few, possibly the only record of
the history of Hastings.
Speaker 1 (14:52):
Yeah, incredible. Now, immediately after the show, Sean, You've got
a great chat coming up with Sandy Mack from Cause
Chambers Westcarth tell us about that.
Speaker 2 (15:00):
So at the end of every year we talked to
Sandy about what's going on in the m and A market.
But because we've had some really big deals think Santos,
Think to Maine, we decided to get Sandy in and
ask her about why we're seeing so many big deals
where they're going to get across the line. The Santos
one is a particularly interesting one. We also talk about it.
She is James Hardy and the AZEC one where local
(15:22):
shareholders didn't get to vote on it. We talk about
basically the state of the M and A industry, what's
going on, Will there be more and I mean, I
think what we kind of decided at the end of
the last financially, if you really want to make money
in the share market basically by a company that's going
to get taken over, so Ostill Holdings that shipbuilder did
so well. Now the problem is you don't know that's
going to happen, but it was a good reason to
(15:44):
update the whole M and A thing. There's going to
be a bit of it going on.
Speaker 1 (15:48):
It's a ripper and the conversations behind those secure closed doors, God,
they'd be fascinating.
Speaker 2 (15:54):
Yeah.
Speaker 1 (15:55):
Well right, that's up next to the Fear and Greed
playlist on your favorite podcast platform or at Fear and
Greed dot com dot au. Thank you, Sean, Thank you
very much. It's Thursday, the tenth of July twenty twenty five.
Make sure you're following the podcast. Join us online on LinkedIn, Instagram,
x TikTok and Facebook, and please have a great day.
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