SpaceX has lift-off, the business of the world cup & the big bank big short

James Thomson· Host0:00

[upbeat music] The Australian Financial Review. [upbeat music] Hello, I'm James Thompson, senior Chanticleer columnist at The AFR. Welcome to our weekly news breakdown of all things business, finance, and markets. [upbeat music] With me today, as always, it's my Chanticleer colleague. He's not as rich as Elon Musk, but he's just as smart. It's Anthony McDonald. How are you, Anthony?

Anthony Macdonald· Host0:29

Elon could have the money, mate. 14 kids, he needs it.

James Thomson· Host0:32

[laughs] A good point. [upbeat music] Well, this week we examine judgment day for Elon Musk as his AI hot air balloon, SpaceX, takes flight on the New York Stock Exchange. We kick around the business of the World Cup, and football in general, and we look at a household name eyeing off a big deal in Britain. But first, Anthony, you did some great digging this week on the big fat bet that's building against our Big Four banks. Now, your data showed that the short positions against the banks, uh, that's investors who are betting that share prices of banking stocks will go down, not up, those short bets have hit a record $11 billion, which is pretty impressive, Anthony. What's going on here?

Anthony Macdonald· Host1:18

What's not going on here, James? [laughs] No, seriously, the banks are getting squeezed on all fronts, and I think that's what these short positions showed. So you obviously got mortgage competition, deposit competition, you know, pressure on the bank's margins.