Mega defence deal with Canada; WiseTech’s White investigated; UK PM steps down
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What is the main topic discussed in this episode?
Welcome to Fear and Greed, business news you can use today.
What is the significance of Canada's $2.5 billion radar deal with Australia?
Canada set to buy $2.5 billion worth of radar equipment as relations between the two countries warm up. WiseTech Global founder and CEO Richard White investigated by the AFP's Human Exploitation Task Force and UK Prime Minister Sir Keir Starmer quits. Plus, local chicken farmer Ingham's hunkers down as a second case of bird flu reaches our shores and Wall Street's interest in flying cars. It is Tuesday, the 23rd of June, 2026. I'm Michael Thompson and good morning, Sean Aylmer. Good morning, Michael. Flying cars, that is right up my alley. It is, totally. We'll get to that one a little bit later on. The main story this morning, Sean, Canada will buy $2.5 billion worth of over-the-horizon radar systems from Australia in the largest defence export deal ever signed, which is a great stat, right?
Yeah. The technology allows surveillance at ranges of up to 3,000 kilometers and is used to monitor the airspace to the north of Australia. We certainly have a lot of airspace to watch. Canada, like Australia, is in exactly the same boat. right, huge areas to cover. They're going to be using the systems to engage in surveillance over the Arctic. Defence Minister Richard Marles said it means that Australia and Canada are now partners in the development of the radar systems and really good friends. Great, friends.
It is actually the first sale of this technology, which was developed in Northern Australia. The Jindalee Operational Radar Network, as it's properly known, keeps watch over air and sea movements across 37,000 square kilometres, up to 3,000 kilometres from the shoreline. How's this?
What allegations are being investigated against WiseTech Global's CEO Richard White?
Its inaugural development began in 1972 under a guy called Dr Don Sinnott. And one of the biggest challenges they came across was the enormous array of ironmongery, as in creating pieces of iron to do stuff. Who better to help out than Hills Hoist, which have been making clotheslines for years. So... Hills Hoist developed some of the first types of radar. So the building of one of the most sophisticated tracking devices in the world is thanks, in some small way, to the humble clothesline.
That is incredible. God, Hills Hoist has come a long way from spinning it around and playing goon of fortune. So true, Michael. So true. Amazing. That is just a great, great story. And the similarities between Canada and Australia, like they're there just with these enormous expanses of terrain to watch. And it's fantastic to see an Aussie company or an Aussie development, rather, heading overseas. Now, Energy and Climate Change Minister Chris Bowen This is interesting. Yesterday, he said that Australia now has 44 days worth of petrol and 39 days of diesel and 32 days of jet fuel, right?
How has the resignation of UK Prime Minister Sir Keir Starmer impacted British politics?
All of those numbers are now higher than before the war in the Middle East began. It appears we might have learned a lesson.
Maybe he added that there are 51 ships on the water travelling to Australia with more fuel and 3.9 billion litres of orders locked in and contracted over the next four weeks. Now, given the precarious nature of the ceasefire in the Middle East, the government continues to look for new sources of fuel. The announcement came after a meeting of the National Cabinet following the federal government's decision to extend the cut in fuel excise.
All right. Away from politics, Sean, federal police are investigating billionaire businessman and founder of WiseTech Global, Richard White, over claims that he exploited a woman's immigration status and financial insecurity for sex and provided false information on a visa application. The AFP's Human Exploitation Task Force launched the investigation into white this year after a complaint from a former executive from another company that he controls called KICKR, K-Y-C-K-R. This is all according to Nine Media.
White is alleged to have used his power and influence to coerce Caroline Heideman, a Brazilian once employed by WiseTech as a cleaner, into a sexual relationship. Heideman made similar claims against White last year, but ultimately reached a settlement.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:06–0:09
2
What is the significance of Canada's $2.5 billion radar deal with Australia?
0:09–1:55
3
What allegations are being investigated against WiseTech Global's CEO Richard White?
1:55–3:19
4
How has the resignation of UK Prime Minister Sir Keir Starmer impacted British politics?
3:19–5:19
5
What measures are being taken in response to bird flu cases in Australia?
5:19–6:22
6
What is Wall Street's current interest in flying cars?
6:22–7:21
7
How is Australia's fuel supply situation evolving amid geopolitical tensions?
7:21–8:58
8
How does the flying car company Daroni plan to revolutionize personal transport?
8:58–17:29
Speakers
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