July 20, 2025 • 16 mins
Monday 21 July 2025
Federal parliament resumes this week with legislation on HECS debt, superannuation and child care high on the Labor Party’s agenda.
And more, including:
- Potash and nickel dampen the excitement around BHP’s record iron ore and copper production.
- Crown Resorts might be coming to Brisbane.
- A ripper weekend in the housing market.
- The UK set to drop the voting age to 16.
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And don’t miss the latest episode of How Do They Afford That? - this week, it's all about debt consolidation. Get the episode from APPLE, SPOTIFY, or anywhere you listen to podcasts.
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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.
Federal Parliament resumes this week, with legislation on Hextet, superannuation
and childcare high on the Labor Party's agenda. Potash and
nickel dampen the excitement around BHP's record iron ore and
copper production, and Crown resorts might be coming to Brisbane.
Plus a ripper weekend in the housing market, and the
(00:27):
UK is set to drop the voting age to sixteen.
It is Monday, the twenty first of July twenty twenty five.
I'm Michael Thompson and good morning Sean Aylmer.
Speaker 2 (00:36):
Good morning, Michael, and welcome back to the studio.
Speaker 1 (00:39):
Thank you. It is great to be back, and especially
on such a big week when Parliament.
Speaker 2 (00:43):
Is going back, very exciting.
Speaker 1 (00:45):
It's the kind of thing that really excites me. That
is the main story this morning, Sean. Prime Minister Anthony
Abernezi and his Labor team head back to Canberra this week,
with Federal Parliament sitting for the first time since the
early May election. It's a long time to not be sitting,
isn't it. I think twenty twenty five is almost a record,
not quite for the least number of sitting days. Yeah,
(01:07):
it's quite extraordinary. The federal government's agenda. It is packed,
probably because I've got a jam so much now into
a shorter period of time. And given the huge majority
in the House of Representatives and the need really for
only the Greens support in the Upper House, the Albanezer
government has really what must be seen as a golden
opportunity to push through legislation and change.
Speaker 2 (01:28):
It is Australia's forty eighth parliament since Federation, and Governor
General Sam Mouston will open it tomorrow. The Prime Minister
Anthony Alberanzi has nominated a twenty percent reduction in hex
debt for students as his first piece of legislation. A
graduate with an average debt of twenty seven thy six
hundred will have about five and a half thousand lopped off.
The title that'll be nice. Labour is also likely to
(01:49):
move quickly on its controversial plan to increase the tax
on superannuation accounts with more than three million dollars, including
the taxation of unrealized gains. The only roadbock to that
at the moment is that the Greens want the level
reduced to two million dollars. There's also expected to be
new legislation covering environmental laws, childcare, gender equality and disability care,
(02:11):
and truth in political advertising. There's also likely to be
a slate of new legislation around housing, as the government
works to improve one of the soft spots in the economy.
Parliament kicks off tomorrow with both houses sitting, though day
ones normally very procedural. There's also a bunch of new
MPs that need to get the lie of the land
or so the battle gets serious on Wednesday.
Speaker 1 (02:32):
It's also a big week, isn't it for Susan Lee,
who is the new head of the Liberal Party. She
needs to prove herself having defeated Angus Taylor in a
poll for the top job and now the pressure's on.
Speaker 2 (02:44):
Yeah. In many ways it's bigger for Susan Lee than
it is the Prime Minister because he's obviously been there,
done that. Susan Lee is the first woman to lead
the Liberal Party. She has quite the job, overseeing just
forty three coalition members, only eighteen Liberal Party members in
the House of Reps, also sixteen from the Liberal National
Party of Queensland and then nine Nationals. The LP has
(03:06):
ninety four members. There are ten independents of one each
from the Australian Greens, the Center Alliance and Katter's Australia Party.
Lee needs to pull together an utterly defeated party. She's
promised not to be overly negative, but what she will
find difficult is not just taking on Anthony Albernezi, but
almost taking on her own party because it was a
(03:28):
close call with Angus Taylor. She won that poll, but
she really has to show that she can be the
leader in the Senate. The ALP will need the support
of the Greens, which means that that party theoretically should
have more power than the previous parliament. It should also
make it easier for the government to pass legislation. Well,
let's get on with it, Michael, Let's get on with it.
Speaker 1 (03:49):
It's time, yeah, it certainly is it as well? Overdue
back into Parliament to let the games begin, now, Sean
turning away from politics into markets. The local share market
beyond eighty seven hundred points for the first time on Friday,
but Wall Street was lower over the weekend, meaning the
local market might now slide on opening.
Speaker 2 (04:10):
So you're away. The market took off, Well, I don't
know if there's anything to do with you.
Speaker 1 (04:15):
Know, entirely coincidental.
Speaker 2 (04:18):
Entirely, so push beyond eighty seven hundred points for the
first time on Friday, mind you, Wall Street was lower.
Over the weekend. The S and p ASX two hundred
was up one point four percent to a new high
of eighty seven hundred and fifty seven points. It actually
peaked during the day on Friday, up eighty seven hundred
and seventy six point four points. That is the all
(04:40):
time high. Healthcare stocks did well, as did the big
minus and tech companies for the week. The Boss was
up two percent. Now Wall Street pullback over the weekend.
Futures training on the local market suggests it will open lower.
Not a lot of data out this week. But but
but the triple butt, the Michael Thompson triple bart In fact,
(05:00):
Reserve Bank gun Michelle Bullock is speaking on Thursday, and
there are minutes at the Central Bank meeting from two
weeks ago. They're out tomorrow now. While you were away,
I'm sure you realize it because you have a mortgage.
We didn't get a rate cut. Given what we've heard
since then, the unemployment rate, for example, went to four
point three percent. And you must listen to the Kouk
(05:20):
after the show today because he talks about this. Given
that all the data said they should have cut rates,
it's going to be very interesting to see what Michelle
Bullock has to say and to see the reasoning from
the Reserve Bank minutes on why they didn't.
Speaker 1 (05:34):
Yeah, it's going to be fascinating. It's going to be
a very very exciting week. And on Wall Street sean
earning season heats up with Alphabet and Tesla both reporting
later in the week. That's got to be a bit
of pressure on the Tesla results.
Speaker 2 (05:48):
Yeah, I mean it'll be particularly closely watched. Ken elon
musk arrests, the slide in sles. Wall Street results used
to be sort of interesting. Now they're really interesting because
companies like Alphabet and Tesla, Netflix, we all know them,
we use them, and so we're really interested. So, for example,
Netflix reported late last week. It's always one of the
first quarterly reporters. It had a really good second quarter
(06:10):
results on the back of two of the most watched
titles of the year. Michael, you were back in the studio,
what were they name? One of them?
Speaker 1 (06:21):
The only one, the only one I can think of
that would fit the bill would be Squid Game because
there was so heavily promoted. The last season of that.
Speaker 2 (06:30):
Did very very well. The other one, which, funny enough,
I watched with my daughter Rosie Ginny and Georgia the
third season of it.
Speaker 1 (06:37):
Third season, I haven't even heard of the first two.
Speaker 2 (06:41):
And don't worry. You don't need to more suitable for
a sixteen year old girl than a middle aged man
like myself. The great thing about Netflix, it shares something
nearly double over the past year. It's worth about half
a trillion dollars. It's actually worth more than Walt Disney,
Comcast and Warm Brothers Discovery combined. So it's just amazing
how streaming has taken off. In terms of numbers. Brncruz
(07:03):
trading around sixty nine US dollars a barrel. Michael, you're
going to be picking up petrol around that one to
eighty one ninety dollars a liter and diesel whatever it is,
So no interest, that's for you. Gold's closet two thirty
three fifty US announced bitcoins out one hundred and eighteen
thousand US dollars a unit, and the Aussie dollar buying
sixty five US cents.
Speaker 1 (07:20):
All right, big start to the show. Plenty more still
to come. We'll be back in a moment with the
rest of the day's business news sewn. BHP's share price
jumped more than three percent last Friday and the back
of record copper and iron ore production. But the news
(07:41):
isn't so good for two other major products, potash and nickel.
Speaker 2 (07:46):
BHP's push into potash, which is in Canada it began
about ten twelve years ago, was supposed to cost about
five point seven billion US dollars, but on Friday, BHPS
ad the budget would push beyond seven billion dollar doll
The first production from the Stage one mind will now
be twenty twenty seven, a year later. The most recent
(08:06):
update BHP blames design escape changes in inflation for the
cost increases. It might actually defer Stage two expansion. Think
about potash for BHP, that is its big push into
well part of its big push into forward looking commodities.
Potash being a fertilizer, so very disappointing for the big Australian.
It's also sold at steak in a one point four
billion dollar nickel project in Tanzania at a loss. Nickel
(08:30):
prices have tumbled Beachps previously Mothboards Nickel division, and this
is a casualty of a similar Well what am I
saying here, Michael? Basically it's part of the mothboiling of
the Nickel business.
Speaker 1 (08:41):
Okay, gotcha. Crown Resorts, this is interesting. Could be heading
to Brisbane, which is a market currently owned by the Star,
with the owners of queenswarf Precinct in talks with the
private equity owned Crown about a takeover of casino operations.
Speaker 2 (08:58):
Chow Tai Fook Enterprises and East to Consort Him each
own twenty five percent of the Brisbane Hotel, casino and
Entertainment complex. Now they're finalizing the purchase of Star Entertainment's
fifty percent stake in the business, and according to a
story in the AFR, they actually want to replace Star
as the precincts Cash a casino operator by early next year,
with someone else Crown Resorts being the only other option
(09:21):
that would push Crown Resorts along the East case basically
and Perth of course. So you've got Melbourne, Sydney, Brisbane
and Perth.
Speaker 1 (09:29):
Yeah, be big move. Now, there was an uptick sean
in the number of house auctions held across the country
over the weekend, and in the preliminary clearance rate too,
which came in at seventy four point four percent.
Speaker 2 (09:42):
I suppose, you know, an uptick really under.
Speaker 1 (09:45):
I was just thinking that I was an uptick. I
really should have gone a bit stronger with that. There
was a whopping surge. How's that very much?
Speaker 2 (09:55):
Too much? Probably? It was an absolutely cracking weekend. It
was the second highest preliminary clearance rate this year. We've
had six weeks in a row above seventy percent. Melbourne's
on a tear seventy six point seven percent clearance rate,
the highest in more than two years. According to Totality,
the Victorian capital is relatively cheap, so the medium home
price of sales over the last week in Melbourne was
(10:15):
nine hundred and thirty five thousand dollars, well below Sydney,
which is one point seventy five million dollars. It's below Brisbane,
and it's about in line with Canberra, and no disrespect
to Brisbane, Canbra But if I was going to buy
a home, I'd probably buy in Melbourne rather than Brisbane
or Camera. I'm not I'm not getting out of.
Speaker 1 (10:34):
This conversation because I just want to see just everyone
just getting angry and bringing their pitchforks for the ail
my household.
Speaker 2 (10:39):
Yeah that's true. I mean I'd probably buy in Brisbane
as well as Melbourne. No buy both.
Speaker 1 (10:43):
Go on see yourself out of this one.
Speaker 2 (10:46):
I have lived in Camera in a lovely spot. One
of my kids lives there. Beautiful. Sydney's medium price, I said,
was one point seventy five million dollars. Is Clear and
Straight came in just under seventy five percent. Among the
smaller capitals, Adelaide was good seventy two. Brisbane picked up
quite a bit from recent weeks, finished above sixty eight percent.
Act was sixty six percent now.
Speaker 1 (11:04):
The share price of biotech Miso Blast, which is one
that we've talked about a lot in the past, shorn
It rose thirty five percent on Friday after the company
announced strong sales of itssel therapy since it became commercially
available in March.
Speaker 2 (11:19):
It's called Royan Saul. The US Food and Drug Administration
in December approved of the therapy to treat children for
complications that can occur during bone marrow transplants. The group
reported thirteen million dollars in gross revenue. From Rayons sales
from the time it was launched. From March twenty eight
to June thirty, its share price has been on a
rollercase to mesoblast on the back of whether this drug
(11:41):
would well work but then actually be sold by doctors,
and that's happening. Friday's bounce values a company had about
three billion dollars.
Speaker 1 (11:50):
It looks like Jeremy Rockliffe will remain as Tasmania's premier
after Saturday's election.
Speaker 2 (11:55):
That's right that Lives are projected to win fifteen of
the thirty five seats. Rockcliffe is reaching out to cross
benches to try and secure government. ALP leader Dean Winter
hasn't conceded just yet. It was almost a record loss
for Labor, a very poor performance in Tasmania and a very.
Speaker 1 (12:12):
Quick update on the Quantus hack from last month. The
Carrier has released, rather secured, a Supreme Court injunction to
stop stolen data being access viewed, released, us transmitted or
published by anyone.
Speaker 2 (12:26):
Yes, so we haven't seen any evidence that the hack
data of five points four seven million customs has actually
been posted anywhere at this point, and really the injunction
the injunction at this stage is a precautionary measure. However,
it is unlikely to local criminals from posting.
Speaker 1 (12:45):
I was to say, I don't think a court order
is going to stop a criminal from posting something, isn't.
It might stop media from perhaps some elements of it,
but I don't think it's going to stop the dark
web does not pay a huge amount of notice to
Supreme Court injunctions. Turning to international news, now, another Trump
bromance looks to be in trouble. The US President is
suing Rupert Murdoch and News Corp, the parent company of
(13:08):
The Wall Street Journal, of an article claiming that Trump
wrote a note to Jeffrey Epstein for his fiftieth birthday.
Speaker 2 (13:15):
The article claims that the typed letter reportedly includes a
drawing made with a heavy marker, of a naked woman,
on which Trump's signature features prominently, with a message wishing
that every day be another wonderful secret. When Trump found
out it was running, he rang Murdoch told him to
pull it. Threatening to sue his ass off is the
way he put it on social media. In fact, he
(13:38):
said it threatened to sue his ass off and that
of his third rate newspaper Murdoch didn't force the Wall
Street genital pullet, or at least whatever happened, it still
was printed. And so Trump is now suing News Corp
and Rupert Murdoch. I mean, the Jeffrey Epstein affair is
causing Donald Trump all sorts of headaches. More so than
(14:00):
some other incredibly serious issues out there. This is the
one that seems to be catching him out at the moment,
and it.
Speaker 1 (14:06):
Just keeps coming back. Yeah, seems yeah, not going anywhere now. Finally,
Britain Sean I mentioned this at the top of the show,
has moved to lower the voting age by two years
to sixteen in all UK elections, which is a major
overhaul of the country's democratic system that immediately split opinion
over whether young people should or would cast ballots. And
(14:29):
when you think about the fact that Australia's electoral system
is based on the UK system.
Speaker 2 (14:33):
Could we be naclate. That's right. The proposed changes are
designed to boost participation and trust in the electoral system,
which suffered its lowest turnout at last year's general election
in about twenty years.
Speaker 1 (14:45):
Now.
Speaker 2 (14:45):
Voting isn't compulsory in the UK. That's a big difference
between Britain and Australia, but it would align voting rights
across Britain, where younger voters can already participate in elections
to devolved parliaments in Scotland and Wales. According to Reutter's Kisarma,
the UK Prime Minister said, and I quate they're old
enough to go out to work, they're old enough to
pay taxes. If you pay in you should have the
(15:07):
opportunity to say what you want your money spent on
which way the government should go.
Speaker 1 (15:12):
Okay. Coming up next is the Fear and Greed Daily
Interview Today, Sean, you're speaking with Elaine Stead, who is
the principle of Deep Deep Tech Venture Fund. It's a
tongue twister main Sequence.
Speaker 2 (15:23):
Yes, so it's kind of it's a deep tech is
a far more focused way of investing. You need patient
capital because you're not going to get a return for five, seven,
ten years, and it might be in quantum computing, it
might be in AI and main Sequence have raised quite
(15:43):
a bit of money. They've actually just sort of got
their first return seven year twenty seventeen they started, So
what's up eight years on? So we talk about how
people should think about investing in a deep tech venture fund.
I reckon when I have investing in is Michael? Mostly
I kind of know what the responses are going to
(16:04):
be when I ask the question. Not in this one.
It's really interesting chat.
Speaker 1 (16:08):
Oh that's awesome. Okay, that's coming up next in the
Fear and Greed playlist on your podcast platform or at
Fearandgreed dot com dot au, which is also where you
sign up for our free daily newsletter which continues to
go gangbusters. And I put a link to that one
in today's show notes as well. Thank you Sean, Thank
you Michael. It is Monday, the twenty first of July
twenty twenty five. Make sure you're following the podcast and
please join us online on LinkedIn, Instagram, ex TikTok and Facebook.
(16:31):
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.
Federal Parliament resumes this week, with legislation on Hextet, superannuation
and childcare high on the Labor Party's agenda. Potash and
nickel dampen the excitement around BHP's record iron ore and
copper production, and Crown resorts might be coming to Brisbane.
Plus a ripper weekend in the housing market, and the
(00:27):
UK is set to drop the voting age to sixteen.
It is Monday, the twenty first of July twenty twenty five.
I'm Michael Thompson and good morning Sean Aylmer.
Speaker 2 (00:36):
Good morning, Michael, and welcome back to the studio.
Speaker 1 (00:39):
Thank you. It is great to be back, and especially
on such a big week when Parliament.
Speaker 2 (00:43):
Is going back, very exciting.
Speaker 1 (00:45):
It's the kind of thing that really excites me. That
is the main story this morning, Sean. Prime Minister Anthony
Abernezi and his Labor team head back to Canberra this week,
with Federal Parliament sitting for the first time since the
early May election. It's a long time to not be sitting,
isn't it. I think twenty twenty five is almost a record,
not quite for the least number of sitting days. Yeah,
(01:07):
it's quite extraordinary. The federal government's agenda. It is packed,
probably because I've got a jam so much now into
a shorter period of time. And given the huge majority
in the House of Representatives and the need really for
only the Greens support in the Upper House, the Albanezer
government has really what must be seen as a golden
opportunity to push through legislation and change.
Speaker 2 (01:28):
It is Australia's forty eighth parliament since Federation, and Governor
General Sam Mouston will open it tomorrow. The Prime Minister
Anthony Alberanzi has nominated a twenty percent reduction in hex
debt for students as his first piece of legislation. A
graduate with an average debt of twenty seven thy six
hundred will have about five and a half thousand lopped off.
The title that'll be nice. Labour is also likely to
(01:49):
move quickly on its controversial plan to increase the tax
on superannuation accounts with more than three million dollars, including
the taxation of unrealized gains. The only roadbock to that
at the moment is that the Greens want the level
reduced to two million dollars. There's also expected to be
new legislation covering environmental laws, childcare, gender equality and disability care,
(02:11):
and truth in political advertising. There's also likely to be
a slate of new legislation around housing, as the government
works to improve one of the soft spots in the economy.
Parliament kicks off tomorrow with both houses sitting, though day
ones normally very procedural. There's also a bunch of new
MPs that need to get the lie of the land
or so the battle gets serious on Wednesday.
Speaker 1 (02:32):
It's also a big week, isn't it for Susan Lee,
who is the new head of the Liberal Party. She
needs to prove herself having defeated Angus Taylor in a
poll for the top job and now the pressure's on.
Speaker 2 (02:44):
Yeah. In many ways it's bigger for Susan Lee than
it is the Prime Minister because he's obviously been there,
done that. Susan Lee is the first woman to lead
the Liberal Party. She has quite the job, overseeing just
forty three coalition members, only eighteen Liberal Party members in
the House of Reps, also sixteen from the Liberal National
Party of Queensland and then nine Nationals. The LP has
(03:06):
ninety four members. There are ten independents of one each
from the Australian Greens, the Center Alliance and Katter's Australia Party.
Lee needs to pull together an utterly defeated party. She's
promised not to be overly negative, but what she will
find difficult is not just taking on Anthony Albernezi, but
almost taking on her own party because it was a
(03:28):
close call with Angus Taylor. She won that poll, but
she really has to show that she can be the
leader in the Senate. The ALP will need the support
of the Greens, which means that that party theoretically should
have more power than the previous parliament. It should also
make it easier for the government to pass legislation. Well,
let's get on with it, Michael, Let's get on with it.
Speaker 1 (03:49):
It's time, yeah, it certainly is it as well? Overdue
back into Parliament to let the games begin, now, Sean
turning away from politics into markets. The local share market
beyond eighty seven hundred points for the first time on Friday,
but Wall Street was lower over the weekend, meaning the
local market might now slide on opening.
Speaker 2 (04:10):
So you're away. The market took off, Well, I don't
know if there's anything to do with you.
Speaker 1 (04:15):
Know, entirely coincidental.
Speaker 2 (04:18):
Entirely, so push beyond eighty seven hundred points for the
first time on Friday, mind you, Wall Street was lower.
Over the weekend. The S and p ASX two hundred
was up one point four percent to a new high
of eighty seven hundred and fifty seven points. It actually
peaked during the day on Friday, up eighty seven hundred
and seventy six point four points. That is the all
(04:40):
time high. Healthcare stocks did well, as did the big
minus and tech companies for the week. The Boss was
up two percent. Now Wall Street pullback over the weekend.
Futures training on the local market suggests it will open lower.
Not a lot of data out this week. But but
but the triple butt, the Michael Thompson triple bart In fact,
(05:00):
Reserve Bank gun Michelle Bullock is speaking on Thursday, and
there are minutes at the Central Bank meeting from two
weeks ago. They're out tomorrow now. While you were away,
I'm sure you realize it because you have a mortgage.
We didn't get a rate cut. Given what we've heard
since then, the unemployment rate, for example, went to four
point three percent. And you must listen to the Kouk
(05:20):
after the show today because he talks about this. Given
that all the data said they should have cut rates,
it's going to be very interesting to see what Michelle
Bullock has to say and to see the reasoning from
the Reserve Bank minutes on why they didn't.
Speaker 1 (05:34):
Yeah, it's going to be fascinating. It's going to be
a very very exciting week. And on Wall Street sean
earning season heats up with Alphabet and Tesla both reporting
later in the week. That's got to be a bit
of pressure on the Tesla results.
Speaker 2 (05:48):
Yeah, I mean it'll be particularly closely watched. Ken elon
musk arrests, the slide in sles. Wall Street results used
to be sort of interesting. Now they're really interesting because
companies like Alphabet and Tesla, Netflix, we all know them,
we use them, and so we're really interested. So, for example,
Netflix reported late last week. It's always one of the
first quarterly reporters. It had a really good second quarter
(06:10):
results on the back of two of the most watched
titles of the year. Michael, you were back in the studio,
what were they name? One of them?
Speaker 1 (06:21):
The only one, the only one I can think of
that would fit the bill would be Squid Game because
there was so heavily promoted. The last season of that.
Speaker 2 (06:30):
Did very very well. The other one, which, funny enough,
I watched with my daughter Rosie Ginny and Georgia the
third season of it.
Speaker 1 (06:37):
Third season, I haven't even heard of the first two.
Speaker 2 (06:41):
And don't worry. You don't need to more suitable for
a sixteen year old girl than a middle aged man
like myself. The great thing about Netflix, it shares something
nearly double over the past year. It's worth about half
a trillion dollars. It's actually worth more than Walt Disney,
Comcast and Warm Brothers Discovery combined. So it's just amazing
how streaming has taken off. In terms of numbers. Brncruz
(07:03):
trading around sixty nine US dollars a barrel. Michael, you're
going to be picking up petrol around that one to
eighty one ninety dollars a liter and diesel whatever it is,
So no interest, that's for you. Gold's closet two thirty
three fifty US announced bitcoins out one hundred and eighteen
thousand US dollars a unit, and the Aussie dollar buying
sixty five US cents.
Speaker 1 (07:20):
All right, big start to the show. Plenty more still
to come. We'll be back in a moment with the
rest of the day's business news sewn. BHP's share price
jumped more than three percent last Friday and the back
of record copper and iron ore production. But the news
(07:41):
isn't so good for two other major products, potash and nickel.
Speaker 2 (07:46):
BHP's push into potash, which is in Canada it began
about ten twelve years ago, was supposed to cost about
five point seven billion US dollars, but on Friday, BHPS
ad the budget would push beyond seven billion dollar doll
The first production from the Stage one mind will now
be twenty twenty seven, a year later. The most recent
(08:06):
update BHP blames design escape changes in inflation for the
cost increases. It might actually defer Stage two expansion. Think
about potash for BHP, that is its big push into
well part of its big push into forward looking commodities.
Potash being a fertilizer, so very disappointing for the big Australian.
It's also sold at steak in a one point four
billion dollar nickel project in Tanzania at a loss. Nickel
(08:30):
prices have tumbled Beachps previously Mothboards Nickel division, and this
is a casualty of a similar Well what am I
saying here, Michael? Basically it's part of the mothboiling of
the Nickel business.
Speaker 1 (08:41):
Okay, gotcha. Crown Resorts, this is interesting. Could be heading
to Brisbane, which is a market currently owned by the Star,
with the owners of queenswarf Precinct in talks with the
private equity owned Crown about a takeover of casino operations.
Speaker 2 (08:58):
Chow Tai Fook Enterprises and East to Consort Him each
own twenty five percent of the Brisbane Hotel, casino and
Entertainment complex. Now they're finalizing the purchase of Star Entertainment's
fifty percent stake in the business, and according to a
story in the AFR, they actually want to replace Star
as the precincts Cash a casino operator by early next year,
with someone else Crown Resorts being the only other option
(09:21):
that would push Crown Resorts along the East case basically
and Perth of course. So you've got Melbourne, Sydney, Brisbane
and Perth.
Speaker 1 (09:29):
Yeah, be big move. Now, there was an uptick sean
in the number of house auctions held across the country
over the weekend, and in the preliminary clearance rate too,
which came in at seventy four point four percent.
Speaker 2 (09:42):
I suppose, you know, an uptick really under.
Speaker 1 (09:45):
I was just thinking that I was an uptick. I
really should have gone a bit stronger with that. There
was a whopping surge. How's that very much?
Speaker 2 (09:55):
Too much? Probably? It was an absolutely cracking weekend. It
was the second highest preliminary clearance rate this year. We've
had six weeks in a row above seventy percent. Melbourne's
on a tear seventy six point seven percent clearance rate,
the highest in more than two years. According to Totality,
the Victorian capital is relatively cheap, so the medium home
price of sales over the last week in Melbourne was
(10:15):
nine hundred and thirty five thousand dollars, well below Sydney,
which is one point seventy five million dollars. It's below Brisbane,
and it's about in line with Canberra, and no disrespect
to Brisbane, Canbra But if I was going to buy
a home, I'd probably buy in Melbourne rather than Brisbane
or Camera. I'm not I'm not getting out of.
Speaker 1 (10:34):
This conversation because I just want to see just everyone
just getting angry and bringing their pitchforks for the ail
my household.
Speaker 2 (10:39):
Yeah that's true. I mean I'd probably buy in Brisbane
as well as Melbourne. No buy both.
Speaker 1 (10:43):
Go on see yourself out of this one.
Speaker 2 (10:46):
I have lived in Camera in a lovely spot. One
of my kids lives there. Beautiful. Sydney's medium price, I said,
was one point seventy five million dollars. Is Clear and
Straight came in just under seventy five percent. Among the
smaller capitals, Adelaide was good seventy two. Brisbane picked up
quite a bit from recent weeks, finished above sixty eight percent.
Act was sixty six percent now.
Speaker 1 (11:04):
The share price of biotech Miso Blast, which is one
that we've talked about a lot in the past, shorn
It rose thirty five percent on Friday after the company
announced strong sales of itssel therapy since it became commercially
available in March.
Speaker 2 (11:19):
It's called Royan Saul. The US Food and Drug Administration
in December approved of the therapy to treat children for
complications that can occur during bone marrow transplants. The group
reported thirteen million dollars in gross revenue. From Rayons sales
from the time it was launched. From March twenty eight
to June thirty, its share price has been on a
rollercase to mesoblast on the back of whether this drug
(11:41):
would well work but then actually be sold by doctors,
and that's happening. Friday's bounce values a company had about
three billion dollars.
Speaker 1 (11:50):
It looks like Jeremy Rockliffe will remain as Tasmania's premier
after Saturday's election.
Speaker 2 (11:55):
That's right that Lives are projected to win fifteen of
the thirty five seats. Rockcliffe is reaching out to cross
benches to try and secure government. ALP leader Dean Winter
hasn't conceded just yet. It was almost a record loss
for Labor, a very poor performance in Tasmania and a very.
Speaker 1 (12:12):
Quick update on the Quantus hack from last month. The
Carrier has released, rather secured, a Supreme Court injunction to
stop stolen data being access viewed, released, us transmitted or
published by anyone.
Speaker 2 (12:26):
Yes, so we haven't seen any evidence that the hack
data of five points four seven million customs has actually
been posted anywhere at this point, and really the injunction
the injunction at this stage is a precautionary measure. However,
it is unlikely to local criminals from posting.
Speaker 1 (12:45):
I was to say, I don't think a court order
is going to stop a criminal from posting something, isn't.
It might stop media from perhaps some elements of it,
but I don't think it's going to stop the dark
web does not pay a huge amount of notice to
Supreme Court injunctions. Turning to international news, now, another Trump
bromance looks to be in trouble. The US President is
suing Rupert Murdoch and News Corp, the parent company of
(13:08):
The Wall Street Journal, of an article claiming that Trump
wrote a note to Jeffrey Epstein for his fiftieth birthday.
Speaker 2 (13:15):
The article claims that the typed letter reportedly includes a
drawing made with a heavy marker, of a naked woman,
on which Trump's signature features prominently, with a message wishing
that every day be another wonderful secret. When Trump found
out it was running, he rang Murdoch told him to
pull it. Threatening to sue his ass off is the
way he put it on social media. In fact, he
(13:38):
said it threatened to sue his ass off and that
of his third rate newspaper Murdoch didn't force the Wall
Street genital pullet, or at least whatever happened, it still
was printed. And so Trump is now suing News Corp
and Rupert Murdoch. I mean, the Jeffrey Epstein affair is
causing Donald Trump all sorts of headaches. More so than
(14:00):
some other incredibly serious issues out there. This is the
one that seems to be catching him out at the moment,
and it.
Speaker 1 (14:06):
Just keeps coming back. Yeah, seems yeah, not going anywhere now. Finally,
Britain Sean I mentioned this at the top of the show,
has moved to lower the voting age by two years
to sixteen in all UK elections, which is a major
overhaul of the country's democratic system that immediately split opinion
over whether young people should or would cast ballots. And
(14:29):
when you think about the fact that Australia's electoral system
is based on the UK system.
Speaker 2 (14:33):
Could we be naclate. That's right. The proposed changes are
designed to boost participation and trust in the electoral system,
which suffered its lowest turnout at last year's general election
in about twenty years.
Speaker 1 (14:45):
Now.
Speaker 2 (14:45):
Voting isn't compulsory in the UK. That's a big difference
between Britain and Australia, but it would align voting rights
across Britain, where younger voters can already participate in elections
to devolved parliaments in Scotland and Wales. According to Reutter's Kisarma,
the UK Prime Minister said, and I quate they're old
enough to go out to work, they're old enough to
pay taxes. If you pay in you should have the
(15:07):
opportunity to say what you want your money spent on
which way the government should go.
Speaker 1 (15:12):
Okay. Coming up next is the Fear and Greed Daily
Interview Today, Sean, you're speaking with Elaine Stead, who is
the principle of Deep Deep Tech Venture Fund. It's a
tongue twister main Sequence.
Speaker 2 (15:23):
Yes, so it's kind of it's a deep tech is
a far more focused way of investing. You need patient
capital because you're not going to get a return for five, seven,
ten years, and it might be in quantum computing, it
might be in AI and main Sequence have raised quite
(15:43):
a bit of money. They've actually just sort of got
their first return seven year twenty seventeen they started, So
what's up eight years on? So we talk about how
people should think about investing in a deep tech venture fund.
I reckon when I have investing in is Michael? Mostly
I kind of know what the responses are going to
(16:04):
be when I ask the question. Not in this one.
It's really interesting chat.
Speaker 1 (16:08):
Oh that's awesome. Okay, that's coming up next in the
Fear and Greed playlist on your podcast platform or at
Fearandgreed dot com dot au, which is also where you
sign up for our free daily newsletter which continues to
go gangbusters. And I put a link to that one
in today's show notes as well. Thank you Sean, Thank
you Michael. It is Monday, the twenty first of July
twenty twenty five. Make sure you're following the podcast and
please join us online on LinkedIn, Instagram, ex TikTok and Facebook.
(16:31):
I'm Michael Thompson And that was Fear and Greed. Have
a great day.
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