FEAR & GREED | Business News

Noelle Williams, PwC Australia's Banking and Capital Markets Leader, offers insights into the recent performance of Australia’s major banks. She discusses how the sector is stable yet strategically transforming with new CEOs. The focus on home and business lending is shifting, driven by profitability considerations. Record deposit levels are partly due to population migration and COVID savings. Noelle also addresses the rising expense-to-income ratios, highlighting challenges with technology investments and the need for modernized systems.

The ASX rises 0.8% amid hopes of a US government shutdown breakthrough. McDonald’s is shifting to chicken as Aussies seek value, with locals consuming around 54 kg of chicken per person annually. In a notable appointment, Jay Weatherill becomes High Commissioner to London to strengthen defense partnerships. Meanwhile, the National Reconstruction Fund invests $54 million in a brain-chip firm, aiming to help paralysed individuals control tech. Progress in US Senate negotiations brings hope for furloughed workers and resumed benefits.

This week, discover which big-name companies have surprisingly landed on the list of Australia’s worst ASX performers. Dive into the impact of US exposure on these stocks and explore the political tensions within the Liberal Party over net zero policies. A surge in weight loss drug usage among Australians raises concerns, while Qantas introduces a new class of travel, promising enhanced comfort. Plus, hear about burgeoning spring property market trends and a reflection on the legacy of radio legend John Laws.

Diana Mousina, Deputy Chief Economist at AMP, shares her insights on the economy. She discusses the RBA's outlook on inflation and the potential for a rate cut next year. Mousina elaborates on the impact of government spending and public-sector wages on inflation rates. She also predicts a slight drop in the unemployment rate and highlights the importance of consumer sentiment amid ongoing cost-of-living pressures. Additionally, she examines the implications of the US government shutdown on economic data.

In this engaging conversation, Michael Thompson, a seasoned radio producer known for his work on the Ray Hadley Morning Show, and Adam Lang, former CEO of Macquarie Media, share their insights on the dynamic world of live radio. They discuss the unpredictable nature of running a three-hour show, the importance of caller-driven stories, and recount gripping moments like the Lindt Cafe siege coverage. Adam also reveals challenges in managing personalities and the thrill of risk management, while Michael nostalgically reflects on the adrenaline rush of live broadcasting.

This week features a heated debate over hot business topics. ASIC raises alarms about private credit governance in Australia. Investors are jittery as markets dip, affecting tech and crypto stocks. Elon Musk's staggering pay deal is under the spotlight, potentially making him a trillionaire soon. In health news, a new AI study suggests smartwatches could diagnose heart issues. Plus, the Maldives makes headlines by banning smoking for future generations, reflecting a bold public health move.

Markets took a hit, particularly in tech and financial sectors. Corporate earnings reports showed mixed results, with Macquarie notably missing expectations. The media sector faces challenges with advertising, while subscription models show resilience. In a major development, Elon Musk's massive pay package received shareholder approval, stirring up governance discussions. Stay informed about these key business stories and their implications for the market.

Public servant wages soar to a staggering $250 billion, raising inflation concerns. Microsoft faces backlash, offering refunds for allegedly misleading sales. National Australia Bank’s profits plummet, creating investor unrest. A treasure trove of Jim Morrison's lost recordings is rediscovered in Tasmania. Meanwhile, Donald Trump endures a challenging week with political setbacks and declining approval ratings. The discussion also touches on trade figures and the competitive landscape of AI, with speculations about China taking the lead.

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!