November 17, 2025 • 17 mins
Tuesday 18 November 2025
Tech stocks, bitcoin and some very big local companies are sold off, as investors fear higher interest rates.
- Australia’s big energy companies come out in support of net zero by 2050.
- Amazon, Temu and Shein are forecast to dominate the local online retail space within 12 months.
- Prime Minister Anthony Albanese says Australia won't co-host next year’s COP summit with Turkey.
- Westpac sends bankers to the bush.
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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.
Tech stocks, bitcoin and some very big local companies are
sold off as investors fear higher interest rates. Australia's big
energy companies come out and support of net zero by
twenty fifty, and Amazon, Timu and Shean are forecast to
dominate the local online retail space within twelve months plus.
(00:27):
Prime Minister Anthony Abanezi says Australia won't co host next
year's COP summit with Turkey, and Westpac sends bankers so
the bush. It is Tuesday, the eighteenth of November twenty
twenty five. I'm Michael Thompson and good morning, Sean.
Speaker 2 (00:41):
Aylmer. Good morning, Michael, Sean.
Speaker 1 (00:44):
The main story this morning, fear rather than greed is
gripping global markets, with cryptocurrencies tumbling, Wall Street tech heavyweights
mostly going backwards, and even Australia's two biggest companies, the
Cornwealth Bank and BHP losing ground. Meanwhile, safe haven investments
like gold Well Surprise, surprise, Sean, they are surging again.
Speaker 2 (01:06):
In the parlance of investors, it is a risk off market.
They're battening down for a rough period. Fear rather than
greed as you put it. Anyone want to know why
we called our podcast fear and Greed. There it is
markets driven by fear and greed. The main problem really
is the lack of information. The US government shutdown means
investors are buying in the dark locally the real possibility
(01:27):
of no more rate cuts. It's hurting the local market.
So let's have a look at crypto markets. Bitcoin it's
lost thirty percent of its value since it's high last month.
It is now back to its level at the beginning
of the year. With institutional end retail investors dumping the cryptocurrency.
It fell back below ninety three thousand, seven hundred and
(01:47):
fourteen US dollars a unit yesterday. That was the level
it was trading at the end of twenty twenty four.
Its peak was one hundred and twenty six two hundred
and fifty one US dollars a unit. On October, Donald
Trump made a couple of comments perceived to be negative
to cryptos, it started tumbling. Locally. The s and PAX
two hundred is closing is trading close to four month lows,
(02:11):
with the biggest drag without a doubt being Commonwealth Bank,
which is off eight percent over the past month. By
HP's down three percent in the same period. But the
biggest losers over the past month have been the tech
stocks with the AI Technology Index. Say that again, it's
not a it's all technology index on the AX off
more than twelve percent yesterday. Market letters Wise, Tech Global,
(02:33):
and Zero both fell to fifty two week lows. Meanwhile,
Goal surging back above forty one hundred US dollars an ounce,
Silver's back above fifty US dollars an ounce.
Speaker 1 (02:47):
Sean. We've talked a lot about the banks, We've talked
a lot about commodities, but why are tech stocks being
sold off?
Speaker 2 (02:55):
It comes down to valuations and whether the excitement over
AI will end up in real earnings. There are a
few naysas out there, Michael, what it isn't right. It
isn't right to say NASA is a good word. It
isn't right to say big spending tech stocks are on
the nose. But there's just a little bit of a
(03:16):
whiff about them at the moment. And the stocks that
have done so have sort of gone least hard into AI,
such as Apple are currently doing best. So a basket
of tech and AI stocks on Wall streets has fallen
about eight percent over the past couple of weeks. That's
the biggest drop since a big pullback earlier in the year.
But Apple's share price is rising. Apple's capex expected to
(03:41):
be about fourteen billion US dollars this fiscal year. Sounds huge,
but it's actually not Microsoft. It's going to spend ninety
four billion compared to Apple's fourteen billion. Ninety four billion
for Microsoft Meta, a company half Apple size seventy billion dollars.
(04:01):
That's worked against Apple until now. Now people are getting nervous.
So what you were seeing over at the last little bit, well,
I mean up until about a month ago, Apple was
the worst performer of the Bloomberg Magnificent seven INDECKSP. Over
the last month, Apple's up ten percent, Microsoft's flat metas
down fourteen percent. Not necessarily the end of the tech boom,
(04:23):
or the trypto boom for that matter, but there's just
a lot more cynicism in the market right now.
Speaker 1 (04:29):
That is really interesting that that's playing out that way
for Apple, because even when the new iPhones were released
back in September, there was criticism of the fact that
they really hadn't done much for Apple intelligence that Apple
Intelligence was there, but it wasn't as incorporated and enmeshed
into the new operating system as you would expect it
to be. And there wasn't an update for Siri that
(04:51):
was going to use Apple Intelligence in any meaningful way.
And everyone was talking about, oh, Apple's being left behind
now and maybe maybe they a good call.
Speaker 2 (05:01):
Yeah. Apple proponents say, well, they're just going to wait
to see what works best and then they'll jump in
and sort of coattail on that. Maybe that's what they're doing.
But it's just really interesting that they're the winners at
the moment. Yeah.
Speaker 1 (05:15):
Indeed, what about the broader ASX.
Speaker 2 (05:17):
Yesterday the SMPA six two hundred closed flat at eighty
six hundred and thirty four points, in a case of
beautiful timing given the top story being Textalks being sold off.
The text Talks were the best performers yesterday, along with
energy companies. Healthcare was the worst performing sector. BHP shares
initially fell two percent after the English High Court found
(05:38):
it liable under Brazilian law for the Fundao dam failure.
Now the Big Australian closed down more than half percent.
It's peered back some of those losses. Banks mixed. Comwealth
and National Australian Bank were lower, Westpac and AE and
Zaid well high. I'm a Quarry film more than two
percent for squ Metals Group was the best of the
large caps, up more than one percent.
Speaker 1 (05:56):
We're talking about a lot about ETFs Sean and the
Australian exchange traded fund market has hit three hundred and
twenty two billion dollars, driven by a record six billion
dollars in net inflows during October. This is according to
the latest Global x report, and.
Speaker 2 (06:14):
This supports our main story about the risk of market Now.
The Aussie ETF market's up about thirty eight percent over
the past year, and ETF, of course basket of assets
like stocks, generally a low cost way to earn a
return similar to an index or a commodity or whatever.
Each date, flows now stand at forty four billion dollars,
putting the market on track to meet and anticipated fifty
(06:36):
billion dollar milestone this year. Is that a lot, Well,
it's only thirty one billion dollars last year, so yes,
ETFs are growing big time. What's interesting is when people
are putting their money into bond ETFs. Michael, don't roll
your eyes. Bond ETFs exciting, exciting a.
Speaker 1 (06:53):
Recorded month, that is a thrilling ETF to own. I
know it's important, but goodness me, it's not the most
exciting one. Like you look at gold and the nug
ETF like that, that's an exciting one.
Speaker 2 (07:06):
Look one point four billion dollars in the bond ETFs,
mostly Australian credit. That's exciting. Japanese ETFs, they're back in fashion. Okay,
other side of the coin. Not so much enthusiasm for
crypto ETFs, not so much enthusiasm for tech ets. Just
proving our point.
Speaker 1 (07:26):
I always intrigued by the use of I just love
the language that we used to describe things, as you know, Sean.
Why we always refer to it as a basket an ETFs,
a basket of assets. Why can't we change it? What's
wrong with like a parcel or a pot of assets,
a cauldron of assets or something's.
Speaker 2 (07:44):
See the I think this comes from a basket of
currencies originally, again the trade rated index been there forever,
basket of currencies. Now chuck them into the cauldron, right o,
the cauldron of currencies or that? Yeah, there we go,
all right, well we are changing the world. One word
at a time here at fear Engrad Sean will take
a quick break back in a moment. With the rest
(08:05):
of the day's business news. Sean Prime Minister Anthony Aberzi
has dismissed suggestions that Australia could co host next year's
COP climate summit with Turkey. Royce's reported yesterday that Turkey
had made the offer, but Anthony Albanezi said nah, not possible.
(08:29):
Sort of a breakthrough in the next few days. Neither
country will host COP thirty one next year. Elsewhere in politics,
the fallout from the AFR Redbridge poll that shows support
for One Nation hitting a record high while the Coalition
tanks has added even more pressure on Susan Lee. The
poll revealed Coalition's primary vote fell five percentage points last
(08:50):
month to its lowest ever rate. Lowest ever rate of
twenty four percent. Support for One Nation rose four percent
or four points, to eighteen percent. A little uncomfortable, a
little close for Susan Lee. Her supporter's preferred prime minister
has taked to ten percent compared to Anthony Albanezi's forty percent.
(09:10):
Well on a two party preferred basis labor He's had
fifty six percent to forty four percent.
Speaker 1 (09:16):
The way things are going, Susan Lee may not even
get a chance to run against Anthony Alberanezi in two
and a half years time. There seems to be a
lot of confusion at the moment among the moderates in
the federal Labor Liberal Party rather about who should actually
be the leader, which is not what you want only
six months after taking the job.
Speaker 2 (09:34):
No, we know the Conservative Libs aren't big fans of
Susan Lee. There were reports yesterday in The Australian that
some of the moderates were deserting her too. That prompted
the acting Senate Opposition Leader Anne Russen to claim that
the overwhelming majority of Liberal moderates back Lee. Overwhelming majority.
Speaker 1 (09:53):
That's not well put.
Speaker 2 (09:55):
That's not exactly.
Speaker 1 (10:00):
Endorsement. Is it a reindorsement? Is it the kind of
unanimous support that you need as the leader of a party.
Probably not okay. Now, Australia's biggest energy companies support the
federal government's net zero target by twenty fifty, and they've
warned that failing to support renewables will only send power
(10:20):
bills higher.
Speaker 2 (10:22):
Just what the Libs need, Just what the nets need
when they've dropped net zero because they want get one
to get the price of power down. The actual energy
companies come out and said, well, actually to get the
post of power down, you've got to go net zero.
That's effectively it. The chief executive of more than a
dozen major electricity supplies, including AGL, Origin Energy and Energy Australia.
They're all members of the Australian Energy Council, said shifting
(10:44):
to a mostly renewable grid was the best way to
keep bills as low as possible. The CEO stressed the
need for policy certainty and stability as Australia heads towards
a tipping point. Now the energy transition is underway, but
the CEO say it's as much about system security at
the moment as it is emissions reductions. Australia's coal fired
(11:07):
power stations still supply more than half the nation's electricity needs,
but most of them approaching the end of their usable
lives and are due to be retired over the next
decade or so, meaning they've got to be replaced of
something by something. Regardless of net zero ambitions, The industry
argues the cheapest path for consumers is to invest in
(11:28):
replacing aging coal generators with firmed up renewable energy.
Speaker 1 (11:34):
But investing in renewables right is going to cost money,
which is a lot of the argument that has been
made in recent days by the coalition. So prices are
likely to go up.
Speaker 2 (11:44):
Yes. The way the Energy Council puts it is that
replacing aging power stations is not costless and will you
will push up people's electricity bills at least for a while.
So building more wind and solifar storage projects, all the
thousands of kilometers of power lines and pylons and stuff
(12:06):
like that to bring the whole market together, that's going
to add cost that will be passed on to consumer.
But their point is in the longer term, it's cheaper
to do it that way than try and rejig coal
fired power stations.
Speaker 1 (12:21):
Now, Westpac bankers, we mentioned this one in the intro
Sean Westpac bankers will be sent to country towns to
work from council offices or local libraries one day each fortnight,
and the bank won't close any more rural branches until
twenty thirty.
Speaker 2 (12:37):
The moratorium on branches is two and a half years
longer than the other major banks. The decision was announced
ahead of the bank appearing before the House of Representatives
Economics Committee today and tomorrow. The federal government's considering whether
a levee funded by all banks should be created to
support the delivery of regional banking services, a move that
is opposed by Westpac and friends. Federal government has also
(12:58):
forced the major banks to not close banes in the
Bush until mid twenty twenty seven. Now what west Pack
has said is we won't do any closes till twenty thirty.
Over the past five years, twenty three percent of branches
in inner regional areas, that's about two hundred and fifty
two locations were closed, according to the austrain Poindancial Regulation
or regulatory Authority. In outer regional areas, about nineteen percent
(13:19):
of branches were closed.
Speaker 1 (13:21):
How awesome that they get to go and work in
the local library.
Speaker 2 (13:24):
I think they fantastic. So when I travel, I often
find myself if I go home to see my mum
in Orange, we'll go to the local Orange library. You
must spend hours in there doing the show. It's great.
Speaker 1 (13:36):
I frequently go. I mean, I was at the library
yesterday and I found I found four copies of one
of my novels on the shelf, and so I took
some time to go around and reposition them. So that's
now the moment you walk in the library, it's front
and center everywhere. Oh, it's everywhere, It's all over the place.
Speaker 2 (13:53):
You've got a reason to go to the library. You
just go to find your own work.
Speaker 1 (13:56):
Oh yeah, that's absolutely right. And I would trust at
the West back bankers when they go to re the
libraries will look for my books reposition them in prominent
places as well.
Speaker 2 (14:04):
Now, shameless, go.
Speaker 1 (14:05):
On, I'd never been anything but Amazon, Timu and she
and Sean will that's confusing. She and Sean will hold
more than one third of Australia's online retail market by
next year, putting a lot of pressure on local digital marketplaces.
Speaker 2 (14:23):
That's according to investment bank Jardon, which forecasts that the
three international retailers will generate more than eighteen billion dollars
worth of sales locally next year. About thirty six percent
market chare price conscious shoppers another hard one. Price conscious
shoppers will be drawn to the global players, according to
(14:44):
the report. Now, Jardin analyst Ben Gilbert, a regular on
our show, said, I quote retailers need scale or niche
differentiation to survive the market is bifurcating, with those caught
in between Cogan, B. W. Meyer and JB. High Fiss
facing the greatest risk as competition squeezes from both ends.
(15:04):
According to Jarden Analysts, Timu has priced its products between
thirty and forty percent cheaper than Amazon on comparable items.
The price difference for Timu is even more stark when
compared to other platforms, with its products generally being thirty
to seventy percent cheaper than similar items.
Speaker 1 (15:24):
Turn into international news now. Donald Trump has urged Republicans
to vote to release files related to late sex defender
and disgraced financier Jeffrey Epstein in a what is a
sharp turnaround after having.
Speaker 2 (15:38):
Previously come on, can we call it black flip?
Speaker 1 (15:41):
It is a backflip. He's previously fought attempts to make
the files public, and now he's saying Republicans should vote
in favor of it. The US President made the appeal
ahead of a vote in the House of Reps set
for tonight. Now that was increasingly looking like it would
have forced the release of the files anyway, so Donald
Trump is probably getting in ahead of that. Number of
Republicans have in recent day signal they're willing to defy
(16:03):
Trump in the Epstein vote. According to the Financial Times,
on truth social Trump wrote, House Republicans should vote to
release the Epstein files because we've got nothing to hide.
I'm sure there'll be many many journalists and people pouring over.
Speaker 2 (16:18):
Those emails when they come out, and we'll all find
out whether the Republicans do have anything to hide.
Speaker 1 (16:24):
I think that's probably the case.
Speaker 2 (16:25):
All right.
Speaker 1 (16:26):
Up next is Fear and Greed Q and A Today Seawan,
you're speaking with Darren Hopkins and Brendan Paine, who are
from mcgrah nicol, great supporters of the podcast, and we're
talking ransomware.
Speaker 2 (16:36):
Yeah, it's fascinating. It's one of their annual reports on
what's going on in ransomware. I'd like to say there's
lots of good well, there is some good news in it, Michael,
but there's also lots of bad news as well.
Speaker 1 (16:47):
The thing I love about this one is that they
give actual figures on how much businesses are paying in
ransoms and how it compares with last year. It's really
interesting stuff. It's coming up next in the Fear and
Greed playlist on your podcast play or at Fearangreed dot
com dot au, which is also where we sign up
for the free daily newsletter. Thank you Sean, Thank you Michael.
(17:07):
It is Tuesday, the eighteenth of November twenty twenty five.
Make sure you're following the podcast and please join us
online on LinkedIn, Instagram, x 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.
Tech stocks, bitcoin and some very big local companies are
sold off as investors fear higher interest rates. Australia's big
energy companies come out and support of net zero by
twenty fifty, and Amazon, Timu and Shean are forecast to
dominate the local online retail space within twelve months plus.
(00:27):
Prime Minister Anthony Abanezi says Australia won't co host next
year's COP summit with Turkey, and Westpac sends bankers so
the bush. It is Tuesday, the eighteenth of November twenty
twenty five. I'm Michael Thompson and good morning, Sean.
Speaker 2 (00:41):
Aylmer. Good morning, Michael, Sean.
Speaker 1 (00:44):
The main story this morning, fear rather than greed is
gripping global markets, with cryptocurrencies tumbling, Wall Street tech heavyweights
mostly going backwards, and even Australia's two biggest companies, the
Cornwealth Bank and BHP losing ground. Meanwhile, safe haven investments
like gold Well Surprise, surprise, Sean, they are surging again.
Speaker 2 (01:06):
In the parlance of investors, it is a risk off market.
They're battening down for a rough period. Fear rather than
greed as you put it. Anyone want to know why
we called our podcast fear and Greed. There it is
markets driven by fear and greed. The main problem really
is the lack of information. The US government shutdown means
investors are buying in the dark locally the real possibility
(01:27):
of no more rate cuts. It's hurting the local market.
So let's have a look at crypto markets. Bitcoin it's
lost thirty percent of its value since it's high last month.
It is now back to its level at the beginning
of the year. With institutional end retail investors dumping the cryptocurrency.
It fell back below ninety three thousand, seven hundred and
(01:47):
fourteen US dollars a unit yesterday. That was the level
it was trading at the end of twenty twenty four.
Its peak was one hundred and twenty six two hundred
and fifty one US dollars a unit. On October, Donald
Trump made a couple of comments perceived to be negative
to cryptos, it started tumbling. Locally. The s and PAX
two hundred is closing is trading close to four month lows,
(02:11):
with the biggest drag without a doubt being Commonwealth Bank,
which is off eight percent over the past month. By
HP's down three percent in the same period. But the
biggest losers over the past month have been the tech
stocks with the AI Technology Index. Say that again, it's
not a it's all technology index on the AX off
more than twelve percent yesterday. Market letters Wise, Tech Global,
(02:33):
and Zero both fell to fifty two week lows. Meanwhile,
Goal surging back above forty one hundred US dollars an ounce,
Silver's back above fifty US dollars an ounce.
Speaker 1 (02:47):
Sean. We've talked a lot about the banks, We've talked
a lot about commodities, but why are tech stocks being
sold off?
Speaker 2 (02:55):
It comes down to valuations and whether the excitement over
AI will end up in real earnings. There are a
few naysas out there, Michael, what it isn't right. It
isn't right to say NASA is a good word. It
isn't right to say big spending tech stocks are on
the nose. But there's just a little bit of a
(03:16):
whiff about them at the moment. And the stocks that
have done so have sort of gone least hard into AI,
such as Apple are currently doing best. So a basket
of tech and AI stocks on Wall streets has fallen
about eight percent over the past couple of weeks. That's
the biggest drop since a big pullback earlier in the year.
But Apple's share price is rising. Apple's capex expected to
(03:41):
be about fourteen billion US dollars this fiscal year. Sounds huge,
but it's actually not Microsoft. It's going to spend ninety
four billion compared to Apple's fourteen billion. Ninety four billion
for Microsoft Meta, a company half Apple size seventy billion dollars.
(04:01):
That's worked against Apple until now. Now people are getting nervous.
So what you were seeing over at the last little bit, well,
I mean up until about a month ago, Apple was
the worst performer of the Bloomberg Magnificent seven INDECKSP. Over
the last month, Apple's up ten percent, Microsoft's flat metas
down fourteen percent. Not necessarily the end of the tech boom,
(04:23):
or the trypto boom for that matter, but there's just
a lot more cynicism in the market right now.
Speaker 1 (04:29):
That is really interesting that that's playing out that way
for Apple, because even when the new iPhones were released
back in September, there was criticism of the fact that
they really hadn't done much for Apple intelligence that Apple
Intelligence was there, but it wasn't as incorporated and enmeshed
into the new operating system as you would expect it
to be. And there wasn't an update for Siri that
(04:51):
was going to use Apple Intelligence in any meaningful way.
And everyone was talking about, oh, Apple's being left behind
now and maybe maybe they a good call.
Speaker 2 (05:01):
Yeah. Apple proponents say, well, they're just going to wait
to see what works best and then they'll jump in
and sort of coattail on that. Maybe that's what they're doing.
But it's just really interesting that they're the winners at
the moment. Yeah.
Speaker 1 (05:15):
Indeed, what about the broader ASX.
Speaker 2 (05:17):
Yesterday the SMPA six two hundred closed flat at eighty
six hundred and thirty four points, in a case of
beautiful timing given the top story being Textalks being sold off.
The text Talks were the best performers yesterday, along with
energy companies. Healthcare was the worst performing sector. BHP shares
initially fell two percent after the English High Court found
(05:38):
it liable under Brazilian law for the Fundao dam failure.
Now the Big Australian closed down more than half percent.
It's peered back some of those losses. Banks mixed. Comwealth
and National Australian Bank were lower, Westpac and AE and
Zaid well high. I'm a Quarry film more than two
percent for squ Metals Group was the best of the
large caps, up more than one percent.
Speaker 1 (05:56):
We're talking about a lot about ETFs Sean and the
Australian exchange traded fund market has hit three hundred and
twenty two billion dollars, driven by a record six billion
dollars in net inflows during October. This is according to
the latest Global x report, and.
Speaker 2 (06:14):
This supports our main story about the risk of market Now.
The Aussie ETF market's up about thirty eight percent over
the past year, and ETF, of course basket of assets
like stocks, generally a low cost way to earn a
return similar to an index or a commodity or whatever.
Each date, flows now stand at forty four billion dollars,
putting the market on track to meet and anticipated fifty
(06:36):
billion dollar milestone this year. Is that a lot, Well,
it's only thirty one billion dollars last year, so yes,
ETFs are growing big time. What's interesting is when people
are putting their money into bond ETFs. Michael, don't roll
your eyes. Bond ETFs exciting, exciting a.
Speaker 1 (06:53):
Recorded month, that is a thrilling ETF to own. I
know it's important, but goodness me, it's not the most
exciting one. Like you look at gold and the nug
ETF like that, that's an exciting one.
Speaker 2 (07:06):
Look one point four billion dollars in the bond ETFs,
mostly Australian credit. That's exciting. Japanese ETFs, they're back in fashion. Okay,
other side of the coin. Not so much enthusiasm for
crypto ETFs, not so much enthusiasm for tech ets. Just
proving our point.
Speaker 1 (07:26):
I always intrigued by the use of I just love
the language that we used to describe things, as you know, Sean.
Why we always refer to it as a basket an ETFs,
a basket of assets. Why can't we change it? What's
wrong with like a parcel or a pot of assets,
a cauldron of assets or something's.
Speaker 2 (07:44):
See the I think this comes from a basket of
currencies originally, again the trade rated index been there forever,
basket of currencies. Now chuck them into the cauldron, right o,
the cauldron of currencies or that? Yeah, there we go,
all right, well we are changing the world. One word
at a time here at fear Engrad Sean will take
a quick break back in a moment. With the rest
(08:05):
of the day's business news. Sean Prime Minister Anthony Aberzi
has dismissed suggestions that Australia could co host next year's
COP climate summit with Turkey. Royce's reported yesterday that Turkey
had made the offer, but Anthony Albanezi said nah, not possible.
(08:29):
Sort of a breakthrough in the next few days. Neither
country will host COP thirty one next year. Elsewhere in politics,
the fallout from the AFR Redbridge poll that shows support
for One Nation hitting a record high while the Coalition
tanks has added even more pressure on Susan Lee. The
poll revealed Coalition's primary vote fell five percentage points last
(08:50):
month to its lowest ever rate. Lowest ever rate of
twenty four percent. Support for One Nation rose four percent
or four points, to eighteen percent. A little uncomfortable, a
little close for Susan Lee. Her supporter's preferred prime minister
has taked to ten percent compared to Anthony Albanezi's forty percent.
(09:10):
Well on a two party preferred basis labor He's had
fifty six percent to forty four percent.
Speaker 1 (09:16):
The way things are going, Susan Lee may not even
get a chance to run against Anthony Alberanezi in two
and a half years time. There seems to be a
lot of confusion at the moment among the moderates in
the federal Labor Liberal Party rather about who should actually
be the leader, which is not what you want only
six months after taking the job.
Speaker 2 (09:34):
No, we know the Conservative Libs aren't big fans of
Susan Lee. There were reports yesterday in The Australian that
some of the moderates were deserting her too. That prompted
the acting Senate Opposition Leader Anne Russen to claim that
the overwhelming majority of Liberal moderates back Lee. Overwhelming majority.
Speaker 1 (09:53):
That's not well put.
Speaker 2 (09:55):
That's not exactly.
Speaker 1 (10:00):
Endorsement. Is it a reindorsement? Is it the kind of
unanimous support that you need as the leader of a party.
Probably not okay. Now, Australia's biggest energy companies support the
federal government's net zero target by twenty fifty, and they've
warned that failing to support renewables will only send power
(10:20):
bills higher.
Speaker 2 (10:22):
Just what the Libs need, Just what the nets need
when they've dropped net zero because they want get one
to get the price of power down. The actual energy
companies come out and said, well, actually to get the
post of power down, you've got to go net zero.
That's effectively it. The chief executive of more than a
dozen major electricity supplies, including AGL, Origin Energy and Energy Australia.
They're all members of the Australian Energy Council, said shifting
(10:44):
to a mostly renewable grid was the best way to
keep bills as low as possible. The CEO stressed the
need for policy certainty and stability as Australia heads towards
a tipping point. Now the energy transition is underway, but
the CEO say it's as much about system security at
the moment as it is emissions reductions. Australia's coal fired
(11:07):
power stations still supply more than half the nation's electricity needs,
but most of them approaching the end of their usable
lives and are due to be retired over the next
decade or so, meaning they've got to be replaced of
something by something. Regardless of net zero ambitions, The industry
argues the cheapest path for consumers is to invest in
(11:28):
replacing aging coal generators with firmed up renewable energy.
Speaker 1 (11:34):
But investing in renewables right is going to cost money,
which is a lot of the argument that has been
made in recent days by the coalition. So prices are
likely to go up.
Speaker 2 (11:44):
Yes. The way the Energy Council puts it is that
replacing aging power stations is not costless and will you
will push up people's electricity bills at least for a while.
So building more wind and solifar storage projects, all the
thousands of kilometers of power lines and pylons and stuff
(12:06):
like that to bring the whole market together, that's going
to add cost that will be passed on to consumer.
But their point is in the longer term, it's cheaper
to do it that way than try and rejig coal
fired power stations.
Speaker 1 (12:21):
Now, Westpac bankers, we mentioned this one in the intro
Sean Westpac bankers will be sent to country towns to
work from council offices or local libraries one day each fortnight,
and the bank won't close any more rural branches until
twenty thirty.
Speaker 2 (12:37):
The moratorium on branches is two and a half years
longer than the other major banks. The decision was announced
ahead of the bank appearing before the House of Representatives
Economics Committee today and tomorrow. The federal government's considering whether
a levee funded by all banks should be created to
support the delivery of regional banking services, a move that
is opposed by Westpac and friends. Federal government has also
(12:58):
forced the major banks to not close banes in the
Bush until mid twenty twenty seven. Now what west Pack
has said is we won't do any closes till twenty thirty.
Over the past five years, twenty three percent of branches
in inner regional areas, that's about two hundred and fifty
two locations were closed, according to the austrain Poindancial Regulation
or regulatory Authority. In outer regional areas, about nineteen percent
(13:19):
of branches were closed.
Speaker 1 (13:21):
How awesome that they get to go and work in
the local library.
Speaker 2 (13:24):
I think they fantastic. So when I travel, I often
find myself if I go home to see my mum
in Orange, we'll go to the local Orange library. You
must spend hours in there doing the show. It's great.
Speaker 1 (13:36):
I frequently go. I mean, I was at the library
yesterday and I found I found four copies of one
of my novels on the shelf, and so I took
some time to go around and reposition them. So that's
now the moment you walk in the library, it's front
and center everywhere. Oh, it's everywhere, It's all over the place.
Speaker 2 (13:53):
You've got a reason to go to the library. You
just go to find your own work.
Speaker 1 (13:56):
Oh yeah, that's absolutely right. And I would trust at
the West back bankers when they go to re the
libraries will look for my books reposition them in prominent
places as well.
Speaker 2 (14:04):
Now, shameless, go.
Speaker 1 (14:05):
On, I'd never been anything but Amazon, Timu and she
and Sean will that's confusing. She and Sean will hold
more than one third of Australia's online retail market by
next year, putting a lot of pressure on local digital marketplaces.
Speaker 2 (14:23):
That's according to investment bank Jardon, which forecasts that the
three international retailers will generate more than eighteen billion dollars
worth of sales locally next year. About thirty six percent
market chare price conscious shoppers another hard one. Price conscious
shoppers will be drawn to the global players, according to
(14:44):
the report. Now, Jardin analyst Ben Gilbert, a regular on
our show, said, I quote retailers need scale or niche
differentiation to survive the market is bifurcating, with those caught
in between Cogan, B. W. Meyer and JB. High Fiss
facing the greatest risk as competition squeezes from both ends.
(15:04):
According to Jarden Analysts, Timu has priced its products between
thirty and forty percent cheaper than Amazon on comparable items.
The price difference for Timu is even more stark when
compared to other platforms, with its products generally being thirty
to seventy percent cheaper than similar items.
Speaker 1 (15:24):
Turn into international news now. Donald Trump has urged Republicans
to vote to release files related to late sex defender
and disgraced financier Jeffrey Epstein in a what is a
sharp turnaround after having.
Speaker 2 (15:38):
Previously come on, can we call it black flip?
Speaker 1 (15:41):
It is a backflip. He's previously fought attempts to make
the files public, and now he's saying Republicans should vote
in favor of it. The US President made the appeal
ahead of a vote in the House of Reps set
for tonight. Now that was increasingly looking like it would
have forced the release of the files anyway, so Donald
Trump is probably getting in ahead of that. Number of
Republicans have in recent day signal they're willing to defy
(16:03):
Trump in the Epstein vote. According to the Financial Times,
on truth social Trump wrote, House Republicans should vote to
release the Epstein files because we've got nothing to hide.
I'm sure there'll be many many journalists and people pouring over.
Speaker 2 (16:18):
Those emails when they come out, and we'll all find
out whether the Republicans do have anything to hide.
Speaker 1 (16:24):
I think that's probably the case.
Speaker 2 (16:25):
All right.
Speaker 1 (16:26):
Up next is Fear and Greed Q and A Today Seawan,
you're speaking with Darren Hopkins and Brendan Paine, who are
from mcgrah nicol, great supporters of the podcast, and we're
talking ransomware.
Speaker 2 (16:36):
Yeah, it's fascinating. It's one of their annual reports on
what's going on in ransomware. I'd like to say there's
lots of good well, there is some good news in it, Michael,
but there's also lots of bad news as well.
Speaker 1 (16:47):
The thing I love about this one is that they
give actual figures on how much businesses are paying in
ransoms and how it compares with last year. It's really
interesting stuff. It's coming up next in the Fear and
Greed playlist on your podcast play or at Fearangreed dot
com dot au, which is also where we sign up
for the free daily newsletter. Thank you Sean, Thank you Michael.
(17:07):
It is Tuesday, the eighteenth of November twenty twenty five.
Make sure you're following the podcast and please join us
online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael
Thompson and that was Fear and Greed. Have a great day.
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