1 00:00:03,080 --> 00:00:06,240 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Friday, 2 00:00:06,320 --> 00:00:08,520 Speaker 1: the twenty first of March twenty twenty five. I'm sure 3 00:00:08,560 --> 00:00:11,239 Speaker 1: inn alma. Every afternoon we've got the five stories that 4 00:00:11,360 --> 00:00:13,560 Speaker 1: happened today that you need to know about. Story number one, 5 00:00:13,560 --> 00:00:16,200 Speaker 1: this S and PASX two hundred closed up zero point 6 00:00:16,200 --> 00:00:19,640 Speaker 1: two percent today to seven nine hundred and thirty two points. 7 00:00:19,680 --> 00:00:22,360 Speaker 1: For the week, it rose two percent. Nothing to write 8 00:00:22,400 --> 00:00:25,360 Speaker 1: ham about, but the first time it's had a positive 9 00:00:25,400 --> 00:00:28,600 Speaker 1: week in a month. The supermarkets with the our performers 10 00:00:28,680 --> 00:00:31,800 Speaker 1: more on that, surely. Otherwise, industrials did best and text 11 00:00:31,800 --> 00:00:34,560 Speaker 1: talks were among the laggards. The banks were mostly higher, 12 00:00:34,600 --> 00:00:36,320 Speaker 1: so to the big miners. On the other side of 13 00:00:36,360 --> 00:00:39,920 Speaker 1: the coin Promticus lost five percent, while Weisstech and Aria 14 00:00:40,040 --> 00:00:43,680 Speaker 1: were also sold off. Story number two. Woolworth's and Cohle's 15 00:00:43,680 --> 00:00:46,720 Speaker 1: share prices surged today more than five percent in both 16 00:00:46,760 --> 00:00:50,560 Speaker 1: cases after an Australian Competition and Consumer Commission report found 17 00:00:50,560 --> 00:00:54,080 Speaker 1: the two supermarkets giants are among the most profitable in 18 00:00:54,120 --> 00:00:56,920 Speaker 1: the world, but there is no clear evidence that they 19 00:00:57,040 --> 00:01:00,800 Speaker 1: price gouge and their dominance is unlikely to end. The 20 00:01:00,800 --> 00:01:05,000 Speaker 1: Competition watchdog report says that margins have risen since the pandemic, 21 00:01:05,280 --> 00:01:08,720 Speaker 1: and while the cost of groceries has increased significantly relative 22 00:01:08,760 --> 00:01:11,400 Speaker 1: to the increase in wages, it has been lower than 23 00:01:11,440 --> 00:01:14,720 Speaker 1: in many comparable countries. It follows a year long investigation 24 00:01:14,800 --> 00:01:17,160 Speaker 1: by the ah Triable C. The watchdog recommends the government 25 00:01:17,280 --> 00:01:21,319 Speaker 1: force the supermarket giants to publish their prices online and 26 00:01:21,400 --> 00:01:25,200 Speaker 1: provide supplies with detailed information about price and sales forecasts, 27 00:01:25,560 --> 00:01:28,720 Speaker 1: and modifies zoning and planning laws so similar rivals can 28 00:01:28,760 --> 00:01:33,039 Speaker 1: expand more quickly. The report is critical of the promotional 29 00:01:33,080 --> 00:01:37,080 Speaker 1: practices at Willis in Coals, which its investigation found has 30 00:01:37,160 --> 00:01:41,040 Speaker 1: made it more difficult for consumers to assess pricing, discounts 31 00:01:41,080 --> 00:01:43,480 Speaker 1: and value for money. In response, Coal said the a 32 00:01:43,560 --> 00:01:46,520 Speaker 1: triblec is overstating as profit margins and warns that more 33 00:01:46,560 --> 00:01:50,560 Speaker 1: regulation could result in higher prices. Storry number three to 34 00:01:50,680 --> 00:01:54,720 Speaker 1: nine Entertainment confirmed it's in discussions with co Star, the 35 00:01:54,800 --> 00:01:57,440 Speaker 1: group that's made a bit for Domain about the sale 36 00:01:57,480 --> 00:02:00,280 Speaker 1: of the online property platform. Now nine is the major 37 00:02:00,320 --> 00:02:03,480 Speaker 1: shareholder in Domain, owning sixty percent. Its support is needed 38 00:02:03,480 --> 00:02:06,440 Speaker 1: for the co Star deal to go ahead. Costar has 39 00:02:06,480 --> 00:02:09,160 Speaker 1: now massed a seventeen percent share of domain. The fin 40 00:02:09,240 --> 00:02:11,960 Speaker 1: reviews reporting that nine wants a price of four dollars 41 00:02:12,000 --> 00:02:15,760 Speaker 1: sixty four a share. Coastar has offered four dollars twenty 42 00:02:16,240 --> 00:02:18,800 Speaker 1: four dollars sixty four or four dollars sixty five. Represents 43 00:02:18,840 --> 00:02:21,639 Speaker 1: a forty nine percent premium to what Domain was trading 44 00:02:21,639 --> 00:02:24,160 Speaker 1: at before the bid, and there's no indication that they'll 45 00:02:24,200 --> 00:02:28,720 Speaker 1: get that yet. However, talks are ongoing. Demain finished trading 46 00:02:28,760 --> 00:02:31,880 Speaker 1: today around four dollars forty a share. Story Number four 47 00:02:31,919 --> 00:02:35,720 Speaker 1: billionaire Solomon Lu's Premiere Investments has posted a one third 48 00:02:35,880 --> 00:02:39,400 Speaker 1: slide and half year net profit, flat sales and scrapped 49 00:02:39,400 --> 00:02:42,520 Speaker 1: it's dividend, But now free of its apparel brands, which 50 00:02:42,520 --> 00:02:45,119 Speaker 1: it's sold off to Mayer, it's aiming for an international 51 00:02:45,200 --> 00:02:48,880 Speaker 1: push for its remaining retail chains. Peter Alexander is one 52 00:02:48,880 --> 00:02:51,640 Speaker 1: of those. It posted record sales and nearly three hundred 53 00:02:51,639 --> 00:02:54,000 Speaker 1: million dollars for the half, up six point six percent, 54 00:02:54,360 --> 00:02:58,320 Speaker 1: while Smile sales were one hundred and fifty seven million dollars, 55 00:02:58,600 --> 00:03:01,880 Speaker 1: down about fourteen percent. The Glomeert's focus is now on 56 00:03:02,000 --> 00:03:06,360 Speaker 1: leveraging these two high margin iconic brands to ramp up 57 00:03:06,400 --> 00:03:08,920 Speaker 1: growth in existing markets and stretch out to new regions 58 00:03:08,919 --> 00:03:11,120 Speaker 1: from Britain to the Middle Eastern Asia. For the last 59 00:03:11,160 --> 00:03:15,080 Speaker 1: six months, cost of living pressures impacted Premiers brands. However, 60 00:03:15,240 --> 00:03:18,320 Speaker 1: the future is what investors were interested in. Premier share 61 00:03:18,320 --> 00:03:21,560 Speaker 1: price finished up four percent today and story number five. 62 00:03:21,639 --> 00:03:25,080 Speaker 1: President Donald Trump this morning signed an executive order to 63 00:03:25,080 --> 00:03:29,000 Speaker 1: dismantle the US Education Department while seated at a child's desk, 64 00:03:29,280 --> 00:03:32,080 Speaker 1: setting the stage for a huge political and legal battle 65 00:03:32,360 --> 00:03:35,560 Speaker 1: over the federal government's role in the nation's schools. Surrounded 66 00:03:35,560 --> 00:03:38,520 Speaker 1: by school children also seated at desks in the White House, 67 00:03:38,720 --> 00:03:41,920 Speaker 1: Trump said he would begin closing the department once and 68 00:03:42,040 --> 00:03:45,520 Speaker 1: for all after his administration cited poor test scores as 69 00:03:45,520 --> 00:03:49,120 Speaker 1: a key justification for the move. According to Rutter's shattering 70 00:03:49,120 --> 00:03:53,240 Speaker 1: the agency completely requires an Act of Congress, and Trump 71 00:03:53,280 --> 00:03:55,800 Speaker 1: actually lacks the votes for that. The executive order is 72 00:03:55,840 --> 00:03:59,320 Speaker 1: designed to leave school policy almost entirely in the hands 73 00:03:59,320 --> 00:04:02,880 Speaker 1: of states and local boards, a prospect that alarms liberal 74 00:04:02,960 --> 00:04:06,280 Speaker 1: education advocates as it For the Afternoon Report for Friday, 75 00:04:06,320 --> 00:04:08,320 Speaker 1: the twenty first of March twenty twenty five, make sure 76 00:04:08,320 --> 00:04:10,320 Speaker 1: you follow on the podcast. We will be back tomorrow 77 00:04:10,400 --> 00:04:13,000 Speaker 1: morning with the weekend edition of the Fast five Business 78 00:04:13,000 --> 00:04:16,599 Speaker 1: news by Fear and Greed. I'm Sean aelma Enjoy your evening.