1
00:00:03,600 --> 00:00:06,920
Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Tuesday,

2
00:00:06,960 --> 00:00:09,360
Speaker 1: the third of June twenty twenty five. I'm Sean Elmer.

3
00:00:09,600 --> 00:00:11,920
Speaker 1: Every afternoon, we've got the five stories that happened today

4
00:00:11,920 --> 00:00:13,800
Speaker 1: that you need to know about. Story and one. The

5
00:00:13,840 --> 00:00:17,239
Speaker 1: Australian share market rose zero point seven percent today to

6
00:00:17,280 --> 00:00:20,319
Speaker 1: finish at eighty four hundred and sixty seven points. The

7
00:00:20,400 --> 00:00:23,360
Speaker 1: big banks led the way in corporate news. Engineering stock

8
00:00:23,400 --> 00:00:26,400
Speaker 1: Tasmia jumped after the company declared a special dividend of

9
00:00:26,440 --> 00:00:29,720
Speaker 1: twelve cents to share, and Domino's fell after announcing a

10
00:00:29,760 --> 00:00:32,720
Speaker 1: bunch of leadership changes within its Japanese business in a

11
00:00:32,760 --> 00:00:36,120
Speaker 1: bid to strengthen execution in the region. Story number two.

12
00:00:36,120 --> 00:00:40,080
Speaker 1: The value of Australia's agricultural production is forecast to be

13
00:00:40,120 --> 00:00:43,839
Speaker 1: the third highest on record next financial year, but output

14
00:00:43,920 --> 00:00:47,400
Speaker 1: outcomes are resting on a knife edge in regions most

15
00:00:47,440 --> 00:00:51,879
Speaker 1: susceptible to rainfall. Research from the Australian Bureau of Agricultural

16
00:00:51,960 --> 00:00:56,120
Speaker 1: and Resources Economics and Sciences forecasts the total output across

17
00:00:56,120 --> 00:00:59,440
Speaker 1: the next financial year will hit ninety seven point five

18
00:00:59,640 --> 00:01:04,040
Speaker 1: billion dollars when fisheries and forestry are included. A bears

19
00:01:04,240 --> 00:01:07,440
Speaker 1: warned that while seasonal conditions across some areas have prompted

20
00:01:07,480 --> 00:01:10,920
Speaker 1: a strong start to the winter cropping season, output in

21
00:01:11,000 --> 00:01:13,720
Speaker 1: areas where winter crop has been dry sown places like

22
00:01:13,760 --> 00:01:17,360
Speaker 1: South Australia parts of Victoria's southern New South Wales, they're

23
00:01:17,440 --> 00:01:21,240
Speaker 1: very susceptible to rainform a Bears said export values were

24
00:01:21,240 --> 00:01:23,679
Speaker 1: expected to fall two point six billion dollars given lower

25
00:01:23,720 --> 00:01:28,160
Speaker 1: livestock and crop export volumes. Story number three. Treasury Wine Estates,

26
00:01:28,200 --> 00:01:32,200
Speaker 1: the maker of Penfoles, Pepperjack and Linderman's, has suffered a

27
00:01:32,240 --> 00:01:35,360
Speaker 1: major setback in its ambitions to forge a thriving premium

28
00:01:35,400 --> 00:01:39,200
Speaker 1: wine business in the US after its key distributor in California,

29
00:01:39,400 --> 00:01:42,720
Speaker 1: which generates one quarter of its North American sales, decided

30
00:01:42,760 --> 00:01:45,440
Speaker 1: to pull out of the Golden State. It leaves Treasury

31
00:01:45,560 --> 00:01:48,680
Speaker 1: scrambling for a new distributor in California, with the shuttered

32
00:01:48,720 --> 00:01:52,200
Speaker 1: operator responsible for ten percent of group sales. According to

33
00:01:52,280 --> 00:01:55,640
Speaker 1: The Australian. Hurting the wine maker, too is weak consumer

34
00:01:55,720 --> 00:01:59,040
Speaker 1: demand in the US, driven by economic uncertainty, which has

35
00:01:59,080 --> 00:02:02,080
Speaker 1: forced Treasury Wine to warn of lower than expected earnings

36
00:02:02,120 --> 00:02:04,720
Speaker 1: for fiscal twenty twenty five. Over the last few years,

37
00:02:04,760 --> 00:02:07,200
Speaker 1: it's spent more than two billion dollars to buy our

38
00:02:07,280 --> 00:02:11,240
Speaker 1: premium Californian wines. Story number four plenty going on in

39
00:02:11,280 --> 00:02:14,320
Speaker 1: global markets, The Australian dollar was helped by weakness in

40
00:02:14,320 --> 00:02:17,080
Speaker 1: the greenback as expectations for further interst rate cuts and

41
00:02:17,120 --> 00:02:20,600
Speaker 1: fears around the economic impact of trade policy hit the

42
00:02:20,720 --> 00:02:23,320
Speaker 1: US dollar. The Aussie dollars buying just under sixty five

43
00:02:23,440 --> 00:02:25,720
Speaker 1: US cents at the moment, Goal jumped as investors looked

44
00:02:25,720 --> 00:02:28,720
Speaker 1: for safeer assets. Goals up twenty eight percent this year

45
00:02:28,760 --> 00:02:31,799
Speaker 1: after hitting a record high above thirty five hundred US

46
00:02:31,880 --> 00:02:34,480
Speaker 1: dollars an ounce in April. And oil was also higher

47
00:02:34,600 --> 00:02:38,200
Speaker 1: after OPEQ plus increased production less than some had feared,

48
00:02:38,480 --> 00:02:42,880
Speaker 1: and geopolitical concerns flared in Ukraine and Iran. Finally, story

49
00:02:42,919 --> 00:02:47,240
Speaker 1: number five. Shares in IDP Education fell forty seven percent

50
00:02:47,440 --> 00:02:51,000
Speaker 1: today after the company said it expects student placements to

51
00:02:51,080 --> 00:02:53,640
Speaker 1: drop bay up to thirty percent this year as global

52
00:02:53,639 --> 00:02:57,840
Speaker 1: trade uncertainty hurts its enrollment pipeline legislative changes in Australia.

53
00:02:57,840 --> 00:03:01,079
Speaker 1: In the UK has heard its outlook. Comp downgraded its

54
00:03:01,120 --> 00:03:04,280
Speaker 1: earnings guidance for this financial im and announced a firm

55
00:03:04,440 --> 00:03:07,959
Speaker 1: wide review to improve productivity and costs. IDP was formerly

56
00:03:08,000 --> 00:03:11,959
Speaker 1: partly owned by Australia's universities and seek still a preferred

57
00:03:12,000 --> 00:03:14,799
Speaker 1: provider for English testing and student placement now. For a

58
00:03:14,840 --> 00:03:17,560
Speaker 1: while there it did very well Asian kids travel to

59
00:03:18,080 --> 00:03:21,280
Speaker 1: Australia to study and learn English. That's no longer their case.

60
00:03:21,639 --> 00:03:23,919
Speaker 1: That's it for the Afternoon Report for Tuesday, the third

61
00:03:23,960 --> 00:03:25,960
Speaker 1: of June twenty twenty five. Make sure you hit follow

62
00:03:25,960 --> 00:03:28,080
Speaker 1: on the podcast. We will be back tomorrow morning with

63
00:03:28,160 --> 00:03:30,480
Speaker 1: you Wednesday edition off beer and green business News. I'm

64
00:03:30,520 --> 00:03:32,200
Speaker 1: Shane elma Enjoy your evening,