FEAR & GREED | Business News

Andrew Irvine, CEO of National Australia Bank, shares insights into NAB’s recent cash profit of $7.1 billion. He discusses the current outlook for interest rates, forecasting a potential cut by next May. Irvine highlights improving small-business confidence but notes ongoing energy cost concerns. He explains the complexities behind business lending impairments and reassures that the cost of living crisis may be easing. With a vision to become the 'Toyota of banking,' he emphasizes customer experience as a key competitive advantage.

Markets soared with the ASX fueled by strong performances from miners and other key stocks. Breville, Amcor, and Tabcorp offered intriguing corporate updates. Qantas faces governance scrutiny as its chair considers stepping back from multiple roles. A recent Fair Work ruling has banks rethinking their work-from-home policies. Meanwhile, an investigation unfolds regarding a cargo plane crash in Kentucky, raising concerns over safety. Tune in for quick insights into today's business world!

Markets are experiencing a significant sell-off across equities, crypto, and gold as investors reassess risk. An ASIC chief warns of new rules for private credit amidst concerns of potential bubbles. The US elections signal voter fatigue with Trump, while forecasts show rising challenges in tech valuations. On a brighter note, smartwatches are using AI to identify heart issues, merging technology and health in groundbreaking ways.

In this engaging discussion, Kate Anderson, General Manager of NowInfinity, shares her expertise on managing self-managed superannuation funds (SMSFs). She outlines the crucial responsibilities trustees face, emphasizing their sole accountability for compliance. Kate demystifies the complexities of investment rules, including the sole purpose test and related-party acquisitions. She also advises that while DIY SMSFs are appealing, seeking professional guidance is essential given the intricate super and tax laws. A must-listen for future trustees!

Today’s discussion dives into the ASX dips driven by a sell-off in tech stocks and Bitcoin's slide into bear market territory. Medibank makes waves with a new acquisition, while Woodside raises concerns about Australia's declining competitiveness due to strict regulations. A tragic cargo plane crash in Louisville highlights safety issues in air transport. The podcast also reflects on the passing of Dick Cheney, exploring his significant yet controversial role in shaping post-9/11 policy.

The Reserve Bank holds interest rates steady, raising questions about future cuts. ASIC takes a hard look at private credit practices, highlighting governance issues and conflicts. A new government policy guarantees households three free hours of electricity daily. Microsoft makes headlines with a massive deal for AI cloud capabilities. Meanwhile, the Maldives sets a global milestone by banning smoking for future generations. The hosts discuss these pressing topics and their implications, making for an engaging listen.

Warren Hogan, Managing Director of EQ Economics and Economic Advisor at Judo Bank, shares insights on shifting demographics and their impact on economic models. He believes inflation risks are rising, suggesting that interest rates might actually need to increase. Hogan discusses the potentially neutral cash rate being higher than expected and the challenges of managing inflation without robust growth. He also emphasizes the importance of moderating fiscal policy and reskilling to prevent past economic pitfalls.

The Reserve Bank holds the cash rate steady at 3.6%, maintaining a cautious stance on inflation. Meanwhile, the ASX 200 sees a nearly 1% dip as sectors like utilities and mining stumble. In the spirit of the Melbourne Cup, 'Half Yours' wins amidst huge crowds and $200 million in wagers. On the streaming front, new laws could require Netflix to invest $100 million in local content. In a bold move, Amazon strikes a $38 billion deal with OpenAI for computing capacity and tech resources.

The Reserve Bank meets amid signs of economic slowing and persistent inflation. Westpac reports a profit drop as it struggles in the mortgage market. A split within the coalition over climate policy intensifies, with divisions surfacing. Optus faces scrutiny following a major outage, while the hardest-working Australians are identified, including miners and surgeons. Plus, oil prices rise as OPEC+ pauses output increases. Tune in for insights on navigating the mortgage landscape and some fun Melbourne Cup banter!

Josh Gilbert, a market analyst at eToro, dives into the recent earnings triumphs of tech giants like Alphabet and Amazon, highlighting their impressive performance driven by advertising and cloud services. He contrasts AI capital spending as a risk versus a need, especially in relation to Tesla's ambitious but challenging AI goals. Gilbert also discusses Apple’s reliance on iPhone sales amid uncertainties around its AI strategy. His insights reveal the dynamic landscape of technology investing and what it means for retail investors.