December 14, 2025 • 16 mins
Monday 15 December 2025
Australia awakes to the horror of a terrorist attack on a large crowd celebrating the Jewish Hanukkah festival in Sydney, with at least 12 people dead and dozens injured.
- The housing market takes a break on the back of potentially higher interest rates.
- Former ANZ boss Shayne Elliott sues the bank’s board after it withdrew $13.5 million in bonuses.
- The number of investors in ETFs in Australia surges.
- A second division football club in England attracts private equity.
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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.
It is Monday, the fifteenth of December twenty twenty five.
I'm Michael Thompson and today Australia awakes to the horror
of a terrorist attack on a large crowd celebrating the
Jewish Hunniker Festival at Bondeo Beach in Sydney last evening.
At least twelve people have died, including one of the
two gunmen, and twenty nine people are injured, including two
(00:28):
police officers. Prime Minister Anthony Albernezi said it was a
targeted attack on Jewish Australians. He described it as an
act of evil antisemitism. Late last night, one of the
alleged gunmen was identified as Western Sydney bricklayer Navid Akram,
a twenty four year old. Several improvised explosive devices were
(00:48):
also removed by bomb disposal experts from a car parked
on Campbell Parade at Bondai Beach, which was linked to
the deceased gunman. The police operation extended to a street
in the world Western Sydney suburb of Bonnie Rig where
two people were arrested in connection to the Bondai shootings overnight.
There has been an outpouring of support for the Australian
(01:09):
Jewish community, from the Prime Minister to King Charles the
Third to ordinary citizens. Good morning, Sean Aylmer. This really
is a situation which most of us thought, certainly hoped
would never happen here in Australia.
Speaker 2 (01:22):
Good morning Michael. Unfortunately terror has come to Sydney. In
all our thoughts with the victims, the families and all
those affected by the callous, senseless attack. It was a
horrible evening, the worst mass shooting in this country since
he put Arthur Massacre in nineteen ninety six.
Speaker 1 (01:40):
Now this afternoon we'll have more details in the afternoon
report about the latest news on the attack. This is
certainly still developing and unfolding as we learn more about it.
In the meantime, this is what we're covering today. In
business news, the political expense scandal escalates as the Labor
government prepares for its midyear budget review. The housing market
(02:01):
takes a break on the back of potentially higher interest rates,
and former A and Z boss Shane Elliott sues the
bank's board after it withdrew thirteen point five million dollars
in bonuses plus the number of investors in ETFs in
Australia surgeres and a second division football club in England
attracts private equity. On with that Leeds story, there is
(02:23):
a big week in politics sewn with the expenses scandal
causing more trouble for the ALP and the federal government
due to release a budget update on Wednesday. Yesterday, Attorney
General Michelle Rowland commenced steps to repay taxpayers for part
of the sixteen thousand dollar trip she took to Perth
in twenty twenty three with her family. A spokesman for
MS Roland said she would make the repayment after the
(02:45):
Independent Parliamentary Expenses Authority found on Friday that her use
of family reunion entitlements didn't meet the rule.
Speaker 2 (02:53):
Yes and that triggered calls by opposition parties for Roland
to step down, But yesterday treasure Jim Chalmers rejected the idea.
He said Roland had done the right thing asking the
independent Authority to check her expenses. National letter David little
Proud said family reunion entitlements to his tend sporting events
should be the first cup off the rank for banning
under any future change to the Parliamentary expenses scheme.
Speaker 1 (03:14):
Away from the expenses scandal, the major new announcement yesterday
was a crackdown on supermarket price gouging and cashless sales.
Speaker 2 (03:23):
The government will introduce new rules that prohibit supermarkets from
charging prices that are excessive when compared to the cost
of supply, along with a reasonable margin, so they can't
price gouge. Unclear how that will be regulated, though, Jim
Chalmers yesterday said the Australian Competition and Consumer Commission would
be handed an extra thirty million dollars to monitor compliance.
(03:43):
They'll also be forced to accept cash now many low
income people have used cash, and the government said they
will be forced to accept cash. An A Triple C
inquiry into Wollers and Calls earlier in the year actually
said show that there was no evidence that the two
supermarkets have been price gouging at all, and the fin
(04:04):
Review today is reporting that the submissions buy the two
big super markets saying, hey, these new rules actually going
to push up prices anyway, that as it may. That
was a big announcement yesterday.
Speaker 1 (04:15):
And the MEDIAO Economic and Fiscal Outlook statement. My info
that'll be released on Wednesday. It's basically the half year
update to the budget, and there have been a few
leaks about what's in its, including much lower tobacco xcise
and consideration of scrapping the electric vehicle discount, which really
(04:35):
is a victim of its own success, right, it's been
too successful.
Speaker 2 (04:39):
It's based to cost ninety million dollars this financially, it's
likely to cost one point three to five billion dollars.
Speaker 1 (04:46):
I've actually I've looked at.
Speaker 2 (04:47):
This and I'm now kicking myself because we need to
upgrade our car. And if you purchase an EV via
your business, so if I mean you and I own
out this business, So if we purchased it via the business,
you don't have to pay fringe benefit tax on it.
So the whole idea is that it's supposed to kickstart
(05:07):
the uptake of EV so you're paying it in pre
tax dollars, you're not paying fringe benefit tax on it.
The idea is, was it that kickstart the uptake of
v's Sure did go and cost one point three five
billion dollars. It's a really good deal, but you have
to get in really quick if you want to do it.
Speaker 1 (05:22):
They haven't actually asked it yet.
Speaker 2 (05:24):
No, they're considering it, But like, I wonder if you
can get an EV in the next three days, because
excellent Wednesday two.
Speaker 1 (05:31):
Days is a very quick purchase of the Fear and
Greed fleet.
Speaker 2 (05:34):
Maybe yes, yes, yes, yes. Treasury's estimated that almost one
hundred thousand vehicles have benefited from the exemption. I like
the way that Treasury says the vehicles have benefited the
owners have benefited from the exemption compared to the original
estimates of forty seven hundred. Also, the government will inject
five billion dollars into its Cheaper Homes battery program that
was introduced to encourage use for battery storage and homes.
(05:56):
That one's worked really well too first six months about
two and a half billion dollars take up, throwing in
at another five billion.
Speaker 1 (06:02):
Dollars at that.
Speaker 2 (06:03):
There also media reports that the plummeting sales of legal
tobacco would put a one billion dollar hole in the
budget via the lower xize. Ahead of the update yesterday,
Charmers said twenty billion dollars in cuts and reprioritizations will
be contained in the update. So I wouldn't be surprised
if there are things around evs and batteries and stuff
like that. But there'll also be twenty five billion dollars
(06:23):
worth of extra spending in areas around natural disasters through
to the age pension.
Speaker 1 (06:28):
It's interesting with that ev policy because it is it
does show that when you get a policy good enough
essentially that it can work and can work spectacularly. And
so it almost shows all right, maybe it does need
to stop now because it exceeded the forecasts. But once
the infrastructure for EVS has caught up right and it
(06:50):
is more set up and that we've got the various
kind of all of the charging elements and all of that,
that there could be a reintroduction and it would really
kickstart that and get it moving. You've seen it it works. Yep.
Speaker 2 (07:03):
Definitely agree with that.
Speaker 1 (07:04):
ASX. Where do we finish up on Friday? Strong day?
Speaker 2 (07:07):
On Friday is and P six two hundred finished up
more than one percent to just under eighty seven hundred points.
Goldstocks did very well thanks to a rising gold price.
How they be banks did well, see some inquiry did well.
The laggards included wes Ums, Telstrat and Woodside.
Speaker 1 (07:24):
We need to make a quick mention of the Kook
Fear and Greed, the Weak Ahead, which comes up after
the show. It is we mentioned my IFO in it,
but really it's the year and review for the economy,
so it's a big one. We look back at everything
of the year and interest rates to the year and
inflation and everything in between. Because the Cook's not back
(07:45):
next week, because we're moving to the summer format of
Fear and Greed from next week for a few weeks.
New episodes every single day, but they're a little bit
shorter every single day throughout that period, so there'll be
heaps to listen to over Chris and New Year. But
the Kook will be back in the new year. We've
got week Ahead after today. All right, back in a
(08:07):
moment with the rest of the day's business news, Shawn.
The auction market is slowing down for the holiday season.
Just under three thousand homes went under the hammer across
the five capital cities over the past week, with a
preliminary clearance rate of just under sixty five percent. That
(08:29):
is the lowest rate since this time last year.
Speaker 2 (08:31):
Exactly right. Melburn's rate held up reasonably well at almost
sixty six percent, Sydney fifty eight percent. What I thought
was really interesting if you go through the details. Brisbane
preliminary clearance rate of sixty percent, that's about what you'd
expect for that city. Higher median prices for houses one
point three million units eight hundred and thirty three thousand
(08:53):
then Sydney or any other city. So at the high end,
Brisbane is selling really well. Said that prices in both
Sydney and Melbourne have basically hit a wall. They rose
most of the year, they have flatlined over the past month.
Last week, Reserve Bank Governor Michelle Bullock said there will
be no lower or no interest rate cuts for the
(09:14):
foreseeable future. That will and truly slammed the brakes on
the housing market. It had happened the previous week and
probably the previous week before that too. When the whole
when are we going to get a rate cut shifted
to are we going to get a rate cut? Now?
It's like when's the next rate high? And you know,
to your point about the EVN incentives, interest rates are
(09:34):
incredible incentives for the housing market.
Speaker 1 (09:36):
Yeah, yeah, we have seen that play out significantly this year.
I mentioned this next one at the top of the show.
Shawn former A and Z boss Shane Elliott is suing
his former employer after it stripped him of millions of
dollars in bonuses last month, citing failures across its retail
and institutional banking division.
Speaker 2 (09:54):
Elliott claims he and A and ZED had a clear,
unambiguous agreement about the terms of his departure, then the board,
ed by Paulo Sullivan, decided to cancel his bonus. The
former bank boss filed the action late last week. According
to the fin Review, Elliot said he had entered into
a contract and expected its terms to be honored. In November,
(10:14):
A and Zed stripped long and short term and centers
of several management members. About thirty two million dollars went
by the wayside. Thirty and a half million of that
was due to Elliott. Ain Z agreed to pay two
hundred and forty million dollars to ASK after the corporate
regulator alleged many failings by the bank while Elliott was
chief executive. He was replaced in May by Nuna Mattos,
who has subsequently announced large job cuts. An ZED chair
(10:35):
O'Sullivan said the bank will fight Elliott's lawsuit.
Speaker 1 (10:40):
The competition watchdog once Reform in the steved Or industry
sean across the country, saying companies are making billions of
dollars from high fees on containers of future furniture, clothes
and TVs, which ultimately are cost spawned by businesses and
logically consumers.
Speaker 2 (10:58):
Maybe the government should push harder on the stevedoring industry
rather than the supermarkets, because we've done the whole supermarket
thing and it sounded really bad, but the atriple C
has looked into it. No price gouging, you know, whether
you like that result or not, that's what we've done.
But these guys Steve Dores, they've got excess capacity, but
(11:18):
the companies are making record profits with costs and productivity
remaining relatively stable. That's according to the Competition and Consumer
Commission the ACTUABC. Steven Doors are now charging a high
title price per container in real terms than at any
time since the CHABLEC began monitoring the container Steve during
industry twenty seven years ago. When you have access capacity,
(11:41):
it is very unusual to be able to charge a
higher price per container than any other time. HBLEC Commissioner
and a breaky. So the market is not operating the
way the watchdog expects it to operate. It's just not economics, Michael.
Australia's containing a Steve Doring industry is dominated by Patrick
and DP World of ours others though there's Victoria International
(12:02):
Container Terminal in Melbourn, Hutcheson Ports in Sydney and Brisbane
Flinder's Adelaide Container Terminal in South Australia. But the point
here is they don't really have the nuts and bolts
of it. But they're just looking at the industry saying, hm,
you guys are earning a lot of money when there's
all this excess capacity that's not really supply and demand.
Speaker 1 (12:18):
I think the A Triple C should take them on
because Steve DAWs they're just a pushover, right, there's never
any kind of never, any disagreement or anything happy to
agree with. Yep, yep, yep. The number of ETF investors
in Australia SEAN has jumped twenty percent and is on
track to hit three million next year. This is this
(12:39):
has taken off.
Speaker 2 (12:40):
Yeah. Exchange traded funds are by far the fastest growing
mass way for people to invest. The latest Britishares Investment
Trains ETF report found four hundred and eleven thousand Australians
started investing in ETFs in twenty twenty five, pretty phenomenal,
the second large annual increase since twenty twenty taking the
(13:01):
total number of investors to two point seven million. Bdshare
said cost effectiveness and diversification remained the dominant drivers of adoption.
International equities remained the top asset class. ETF investors is
expected to buy in twenty twenty six, with sixty five
percent indicating interests, followed by Australian equities at about sixty percent.
Those categories have already had attracted the highest inflows this year,
(13:23):
So if international ETFs seventeen point three billion dollars this year,
OSI equity is ten point six billion dollars, quite phenomenal.
Be to Shares expects ETF assets under management in Australia
to exceed five hundred billion dollars by the end of
twenty twenty eight.
Speaker 1 (13:40):
Turning two international news now, US President Donald Trump has
vowed to retaliate against Islamic state after an attack in
Central Syria killed two US Army soldiers and a civilian
US interpreter.
Speaker 2 (13:52):
It's the first American casualties in the country since the
fall of the dictator Bashah al Assad last year, I
quote mister Trump on social media, on truth social this
was an ISIS attack against the US and Syria in
a very dangerous part of Syria. There will be very
serious retaliation end quote. The soldiers were supporting canter terrorism
(14:13):
operations against the Islamic State group in Palmyra, a city
in central Syria, when they came under fire from a
lone gunman. According to The New York Times, Syrian security
forces subsequently killed the gunman.
Speaker 1 (14:26):
Now one last one Sean private capital giant Apollo Global
Management has brought a minority stake in Wrexham AFC, the
once sleepy Welsh football club whose fortunes and global profile
have just transformed entirely under the ownership of Hollywood actors
Ryan Reynolds and Rob macilhenny, who is now known as
(14:48):
just Rob mack because no one's ever able to pronounce
his surname.
Speaker 2 (14:52):
That's exactly right, this story. I mean, you know, we
probably know, but it's such a good story. So Rerexham
said the investment would include financing to redevelop the racecourse
ground roughly thirteen thousand capacity stadium aligned with long term
growth strategy blah blah blah, All that's good. Terms of
the deals with Apollo were not disclosed, but Reynolds and
Mac will remain as controlling shareholders. According to the FT, Rexham,
(15:13):
one of four Welsh teams that play in the English leagues,
has enjoyed somewhat stunning upturn in fortunes since it was
bought in twenty twenty one by the Hollywood actors. The
pair acquired Rexham for two million pounds while I was
playing in the fifth tier, produced a documentary series, Welcome
to Rexham Cracking. If you haven't seen it, you should
(15:33):
watch it. Disney played it, charting the fortune their fortunes
as owners. The success of the series and the proyofilo
of Rexham owners has cushed both of the club onto
the global stage. Last year, it sold about one hundred
thousand replica shirts, half of which went to overseas fans.
The club has been promoted in three consecutive seasons, going
from non league football to the EFL Championship, the tier
(15:55):
below the Premier League, and now private Ecuative decided well
it's worth buying into it. I'm sure mister Mac and
mister Reynolds have made themselves a mos up.
Speaker 1 (16:07):
Up next is Fear and Greed Q and A. It
is the week ahead, or rather the year in review
with our resident economist, Stephen Colculus. It is coming up
next to the Fear and Greed playlist on your podcast
platform or at Fearandgreed dot com doodau, which is where
you also subscribe to our free daily newsletter. Thank you, Sean.
Speaker 2 (16:23):
Thanks Michael.
Speaker 1 (16:24):
It's Monday, the fifteenth of December 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.
That was Fear and Greed.
Speaker 2 (16:35):
Have a great day.
Welcome to Fear and Greed business news you can use.
It is Monday, the fifteenth of December twenty twenty five.
I'm Michael Thompson and today Australia awakes to the horror
of a terrorist attack on a large crowd celebrating the
Jewish Hunniker Festival at Bondeo Beach in Sydney last evening.
At least twelve people have died, including one of the
two gunmen, and twenty nine people are injured, including two
(00:28):
police officers. Prime Minister Anthony Albernezi said it was a
targeted attack on Jewish Australians. He described it as an
act of evil antisemitism. Late last night, one of the
alleged gunmen was identified as Western Sydney bricklayer Navid Akram,
a twenty four year old. Several improvised explosive devices were
(00:48):
also removed by bomb disposal experts from a car parked
on Campbell Parade at Bondai Beach, which was linked to
the deceased gunman. The police operation extended to a street
in the world Western Sydney suburb of Bonnie Rig where
two people were arrested in connection to the Bondai shootings overnight.
There has been an outpouring of support for the Australian
(01:09):
Jewish community, from the Prime Minister to King Charles the
Third to ordinary citizens. Good morning, Sean Aylmer. This really
is a situation which most of us thought, certainly hoped
would never happen here in Australia.
Speaker 2 (01:22):
Good morning Michael. Unfortunately terror has come to Sydney. In
all our thoughts with the victims, the families and all
those affected by the callous, senseless attack. It was a
horrible evening, the worst mass shooting in this country since
he put Arthur Massacre in nineteen ninety six.
Speaker 1 (01:40):
Now this afternoon we'll have more details in the afternoon
report about the latest news on the attack. This is
certainly still developing and unfolding as we learn more about it.
In the meantime, this is what we're covering today. In
business news, the political expense scandal escalates as the Labor
government prepares for its midyear budget review. The housing market
(02:01):
takes a break on the back of potentially higher interest rates,
and former A and Z boss Shane Elliott sues the
bank's board after it withdrew thirteen point five million dollars
in bonuses plus the number of investors in ETFs in
Australia surgeres and a second division football club in England
attracts private equity. On with that Leeds story, there is
(02:23):
a big week in politics sewn with the expenses scandal
causing more trouble for the ALP and the federal government
due to release a budget update on Wednesday. Yesterday, Attorney
General Michelle Rowland commenced steps to repay taxpayers for part
of the sixteen thousand dollar trip she took to Perth
in twenty twenty three with her family. A spokesman for
MS Roland said she would make the repayment after the
(02:45):
Independent Parliamentary Expenses Authority found on Friday that her use
of family reunion entitlements didn't meet the rule.
Speaker 2 (02:53):
Yes and that triggered calls by opposition parties for Roland
to step down, But yesterday treasure Jim Chalmers rejected the idea.
He said Roland had done the right thing asking the
independent Authority to check her expenses. National letter David little
Proud said family reunion entitlements to his tend sporting events
should be the first cup off the rank for banning
under any future change to the Parliamentary expenses scheme.
Speaker 1 (03:14):
Away from the expenses scandal, the major new announcement yesterday
was a crackdown on supermarket price gouging and cashless sales.
Speaker 2 (03:23):
The government will introduce new rules that prohibit supermarkets from
charging prices that are excessive when compared to the cost
of supply, along with a reasonable margin, so they can't
price gouge. Unclear how that will be regulated, though, Jim
Chalmers yesterday said the Australian Competition and Consumer Commission would
be handed an extra thirty million dollars to monitor compliance.
(03:43):
They'll also be forced to accept cash now many low
income people have used cash, and the government said they
will be forced to accept cash. An A Triple C
inquiry into Wollers and Calls earlier in the year actually
said show that there was no evidence that the two
supermarkets have been price gouging at all, and the fin
(04:04):
Review today is reporting that the submissions buy the two
big super markets saying, hey, these new rules actually going
to push up prices anyway, that as it may. That
was a big announcement yesterday.
Speaker 1 (04:15):
And the MEDIAO Economic and Fiscal Outlook statement. My info
that'll be released on Wednesday. It's basically the half year
update to the budget, and there have been a few
leaks about what's in its, including much lower tobacco xcise
and consideration of scrapping the electric vehicle discount, which really
(04:35):
is a victim of its own success, right, it's been
too successful.
Speaker 2 (04:39):
It's based to cost ninety million dollars this financially, it's
likely to cost one point three to five billion dollars.
Speaker 1 (04:46):
I've actually I've looked at.
Speaker 2 (04:47):
This and I'm now kicking myself because we need to
upgrade our car. And if you purchase an EV via
your business, so if I mean you and I own
out this business, So if we purchased it via the business,
you don't have to pay fringe benefit tax on it.
So the whole idea is that it's supposed to kickstart
(05:07):
the uptake of EV so you're paying it in pre
tax dollars, you're not paying fringe benefit tax on it.
The idea is, was it that kickstart the uptake of
v's Sure did go and cost one point three five
billion dollars. It's a really good deal, but you have
to get in really quick if you want to do it.
Speaker 1 (05:22):
They haven't actually asked it yet.
Speaker 2 (05:24):
No, they're considering it, But like, I wonder if you
can get an EV in the next three days, because
excellent Wednesday two.
Speaker 1 (05:31):
Days is a very quick purchase of the Fear and
Greed fleet.
Speaker 2 (05:34):
Maybe yes, yes, yes, yes. Treasury's estimated that almost one
hundred thousand vehicles have benefited from the exemption. I like
the way that Treasury says the vehicles have benefited the
owners have benefited from the exemption compared to the original
estimates of forty seven hundred. Also, the government will inject
five billion dollars into its Cheaper Homes battery program that
was introduced to encourage use for battery storage and homes.
(05:56):
That one's worked really well too first six months about
two and a half billion dollars take up, throwing in
at another five billion.
Speaker 1 (06:02):
Dollars at that.
Speaker 2 (06:03):
There also media reports that the plummeting sales of legal
tobacco would put a one billion dollar hole in the
budget via the lower xize. Ahead of the update yesterday,
Charmers said twenty billion dollars in cuts and reprioritizations will
be contained in the update. So I wouldn't be surprised
if there are things around evs and batteries and stuff
like that. But there'll also be twenty five billion dollars
(06:23):
worth of extra spending in areas around natural disasters through
to the age pension.
Speaker 1 (06:28):
It's interesting with that ev policy because it is it
does show that when you get a policy good enough
essentially that it can work and can work spectacularly. And
so it almost shows all right, maybe it does need
to stop now because it exceeded the forecasts. But once
the infrastructure for EVS has caught up right and it
(06:50):
is more set up and that we've got the various
kind of all of the charging elements and all of that,
that there could be a reintroduction and it would really
kickstart that and get it moving. You've seen it it works. Yep.
Speaker 2 (07:03):
Definitely agree with that.
Speaker 1 (07:04):
ASX. Where do we finish up on Friday? Strong day?
Speaker 2 (07:07):
On Friday is and P six two hundred finished up
more than one percent to just under eighty seven hundred points.
Goldstocks did very well thanks to a rising gold price.
How they be banks did well, see some inquiry did well.
The laggards included wes Ums, Telstrat and Woodside.
Speaker 1 (07:24):
We need to make a quick mention of the Kook
Fear and Greed, the Weak Ahead, which comes up after
the show. It is we mentioned my IFO in it,
but really it's the year and review for the economy,
so it's a big one. We look back at everything
of the year and interest rates to the year and
inflation and everything in between. Because the Cook's not back
(07:45):
next week, because we're moving to the summer format of
Fear and Greed from next week for a few weeks.
New episodes every single day, but they're a little bit
shorter every single day throughout that period, so there'll be
heaps to listen to over Chris and New Year. But
the Kook will be back in the new year. We've
got week Ahead after today. All right, back in a
(08:07):
moment with the rest of the day's business news, Shawn.
The auction market is slowing down for the holiday season.
Just under three thousand homes went under the hammer across
the five capital cities over the past week, with a
preliminary clearance rate of just under sixty five percent. That
(08:29):
is the lowest rate since this time last year.
Speaker 2 (08:31):
Exactly right. Melburn's rate held up reasonably well at almost
sixty six percent, Sydney fifty eight percent. What I thought
was really interesting if you go through the details. Brisbane
preliminary clearance rate of sixty percent, that's about what you'd
expect for that city. Higher median prices for houses one
point three million units eight hundred and thirty three thousand
(08:53):
then Sydney or any other city. So at the high end,
Brisbane is selling really well. Said that prices in both
Sydney and Melbourne have basically hit a wall. They rose
most of the year, they have flatlined over the past month.
Last week, Reserve Bank Governor Michelle Bullock said there will
be no lower or no interest rate cuts for the
(09:14):
foreseeable future. That will and truly slammed the brakes on
the housing market. It had happened the previous week and
probably the previous week before that too. When the whole
when are we going to get a rate cut shifted
to are we going to get a rate cut? Now?
It's like when's the next rate high? And you know,
to your point about the EVN incentives, interest rates are
(09:34):
incredible incentives for the housing market.
Speaker 1 (09:36):
Yeah, yeah, we have seen that play out significantly this year.
I mentioned this next one at the top of the show.
Shawn former A and Z boss Shane Elliott is suing
his former employer after it stripped him of millions of
dollars in bonuses last month, citing failures across its retail
and institutional banking division.
Speaker 2 (09:54):
Elliott claims he and A and ZED had a clear,
unambiguous agreement about the terms of his departure, then the board,
ed by Paulo Sullivan, decided to cancel his bonus. The
former bank boss filed the action late last week. According
to the fin Review, Elliot said he had entered into
a contract and expected its terms to be honored. In November,
(10:14):
A and Zed stripped long and short term and centers
of several management members. About thirty two million dollars went
by the wayside. Thirty and a half million of that
was due to Elliott. Ain Z agreed to pay two
hundred and forty million dollars to ASK after the corporate
regulator alleged many failings by the bank while Elliott was
chief executive. He was replaced in May by Nuna Mattos,
who has subsequently announced large job cuts. An ZED chair
(10:35):
O'Sullivan said the bank will fight Elliott's lawsuit.
Speaker 1 (10:40):
The competition watchdog once Reform in the steved Or industry
sean across the country, saying companies are making billions of
dollars from high fees on containers of future furniture, clothes
and TVs, which ultimately are cost spawned by businesses and
logically consumers.
Speaker 2 (10:58):
Maybe the government should push harder on the stevedoring industry
rather than the supermarkets, because we've done the whole supermarket
thing and it sounded really bad, but the atriple C
has looked into it. No price gouging, you know, whether
you like that result or not, that's what we've done.
But these guys Steve Dores, they've got excess capacity, but
(11:18):
the companies are making record profits with costs and productivity
remaining relatively stable. That's according to the Competition and Consumer
Commission the ACTUABC. Steven Doors are now charging a high
title price per container in real terms than at any
time since the CHABLEC began monitoring the container Steve during
industry twenty seven years ago. When you have access capacity,
(11:41):
it is very unusual to be able to charge a
higher price per container than any other time. HBLEC Commissioner
and a breaky. So the market is not operating the
way the watchdog expects it to operate. It's just not economics, Michael.
Australia's containing a Steve Doring industry is dominated by Patrick
and DP World of ours others though there's Victoria International
(12:02):
Container Terminal in Melbourn, Hutcheson Ports in Sydney and Brisbane
Flinder's Adelaide Container Terminal in South Australia. But the point
here is they don't really have the nuts and bolts
of it. But they're just looking at the industry saying, hm,
you guys are earning a lot of money when there's
all this excess capacity that's not really supply and demand.
Speaker 1 (12:18):
I think the A Triple C should take them on
because Steve DAWs they're just a pushover, right, there's never
any kind of never, any disagreement or anything happy to
agree with. Yep, yep, yep. The number of ETF investors
in Australia SEAN has jumped twenty percent and is on
track to hit three million next year. This is this
(12:39):
has taken off.
Speaker 2 (12:40):
Yeah. Exchange traded funds are by far the fastest growing
mass way for people to invest. The latest Britishares Investment
Trains ETF report found four hundred and eleven thousand Australians
started investing in ETFs in twenty twenty five, pretty phenomenal,
the second large annual increase since twenty twenty taking the
(13:01):
total number of investors to two point seven million. Bdshare
said cost effectiveness and diversification remained the dominant drivers of adoption.
International equities remained the top asset class. ETF investors is
expected to buy in twenty twenty six, with sixty five
percent indicating interests, followed by Australian equities at about sixty percent.
Those categories have already had attracted the highest inflows this year,
(13:23):
So if international ETFs seventeen point three billion dollars this year,
OSI equity is ten point six billion dollars, quite phenomenal.
Be to Shares expects ETF assets under management in Australia
to exceed five hundred billion dollars by the end of
twenty twenty eight.
Speaker 1 (13:40):
Turning two international news now, US President Donald Trump has
vowed to retaliate against Islamic state after an attack in
Central Syria killed two US Army soldiers and a civilian
US interpreter.
Speaker 2 (13:52):
It's the first American casualties in the country since the
fall of the dictator Bashah al Assad last year, I
quote mister Trump on social media, on truth social this
was an ISIS attack against the US and Syria in
a very dangerous part of Syria. There will be very
serious retaliation end quote. The soldiers were supporting canter terrorism
(14:13):
operations against the Islamic State group in Palmyra, a city
in central Syria, when they came under fire from a
lone gunman. According to The New York Times, Syrian security
forces subsequently killed the gunman.
Speaker 1 (14:26):
Now one last one Sean private capital giant Apollo Global
Management has brought a minority stake in Wrexham AFC, the
once sleepy Welsh football club whose fortunes and global profile
have just transformed entirely under the ownership of Hollywood actors
Ryan Reynolds and Rob macilhenny, who is now known as
(14:48):
just Rob mack because no one's ever able to pronounce
his surname.
Speaker 2 (14:52):
That's exactly right, this story. I mean, you know, we
probably know, but it's such a good story. So Rerexham
said the investment would include financing to redevelop the racecourse
ground roughly thirteen thousand capacity stadium aligned with long term
growth strategy blah blah blah, All that's good. Terms of
the deals with Apollo were not disclosed, but Reynolds and
Mac will remain as controlling shareholders. According to the FT, Rexham,
(15:13):
one of four Welsh teams that play in the English leagues,
has enjoyed somewhat stunning upturn in fortunes since it was
bought in twenty twenty one by the Hollywood actors. The
pair acquired Rexham for two million pounds while I was
playing in the fifth tier, produced a documentary series, Welcome
to Rexham Cracking. If you haven't seen it, you should
(15:33):
watch it. Disney played it, charting the fortune their fortunes
as owners. The success of the series and the proyofilo
of Rexham owners has cushed both of the club onto
the global stage. Last year, it sold about one hundred
thousand replica shirts, half of which went to overseas fans.
The club has been promoted in three consecutive seasons, going
from non league football to the EFL Championship, the tier
(15:55):
below the Premier League, and now private Ecuative decided well
it's worth buying into it. I'm sure mister Mac and
mister Reynolds have made themselves a mos up.
Speaker 1 (16:07):
Up next is Fear and Greed Q and A. It
is the week ahead, or rather the year in review
with our resident economist, Stephen Colculus. It is coming up
next to the Fear and Greed playlist on your podcast
platform or at Fearandgreed dot com doodau, which is where
you also subscribe to our free daily newsletter. Thank you, Sean.
Speaker 2 (16:23):
Thanks Michael.
Speaker 1 (16:24):
It's Monday, the fifteenth of December 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.
That was Fear and Greed.
Speaker 2 (16:35):
Have a great day.
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