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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Wednesday, the thirteenth of March twenty twenty five. I'm

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Speaker 1: sure in Alma every afternoon We've got the five stories

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Speaker 1: that happened today that you need to know about. Story

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Speaker 1: number one. The local shere market tumbled one point three

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Speaker 1: percent today to close at seven seven hundred and eighty

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Speaker 1: six points, the lowest level in seven months. Very little

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Speaker 1: good news this afternoon. Among the top fifty companies, only

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Speaker 1: two fort squ Metals Group and Santos ended higher today.

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Speaker 1: The banks, the retailers, most of the miners, property groups,

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Speaker 1: healthcare companies, gaming companies, toll road groups all ended in

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Speaker 1: the red. What was noticeable wasn't so much specific stocks,

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Speaker 1: but the fact that everything was sold. The SMPA six

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Speaker 1: two hundred is now down more than nine percent since

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Speaker 1: its peak less than four weeks ago. Sorry number two.

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Speaker 1: The US has confirmed it will impose twenty five percent

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Speaker 1: tariffs on import of Australian steel and aluminium effective tonight,

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Speaker 1: impacting one billion dollars worth of goods. When news emerged

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Speaker 1: that Australia wouldn't get an exemption from the Trump tariffs,

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Speaker 1: the Prime Minister, Deputy Prime Minister and Foreign Minister or

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Speaker 1: criticized the US administration with Anthony Albinez. He's saying it

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Speaker 1: breaches the spirit of the close relationship between the two

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Speaker 1: countries and he said it's not a friendly act. The

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Speaker 1: opposition blamed the government for not doing enough to avoid tariffs.

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Speaker 1: Story number three. The Federal Government has lost its appeal

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Speaker 1: in a native title case that could expose it to

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Speaker 1: a raft of multimillion dollar compensation claims over land it

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Speaker 1: acquired in the Northern Territory throughout the twentieth century. The

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Speaker 1: High Court upheld a decision of the Federal Court from

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Speaker 1: last year, clearing the way for the Good March people

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Speaker 1: of Arnham Land to seek compensation overminding least granted over

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Speaker 1: the Gove Peninsula in the nineteen sixties. The Gamaje people

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Speaker 1: are seeking about seven hundred million dollars and the case

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Speaker 1: was brought by the late indigenous elder and land rights

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Speaker 1: pioneer Unipingu in twenty nineteen. According to report in the

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Speaker 1: City Morning Herald, the High Court's decision to dismiss the

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Speaker 1: Commonwealth's appeal allows the Gamarch people to progress their native

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Speaker 1: title claim and if successful claim compensation beyond their claim.

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Speaker 1: It's significant because it opens the Commonwealth to further compensation

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Speaker 1: claims from when it controlled the Northern Territory from nineteen

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Speaker 1: eleven to nineteen seventy eight. Previously, compensation has generally been

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Speaker 1: understood to apply for extinguishment of the native title after

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Speaker 1: nineteen seventy five, when the Racial Discrimination Act was introduced.

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Speaker 1: Straight number four in corporate news, Reo tinto fol two

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Speaker 1: percent after it said it was looking to sell up

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Speaker 1: to nine billion US dollars of bonds to fund its

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Speaker 1: purchase of Arcadian Lithium. Insurance Australian Group said it has

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Speaker 1: received more than four thousand claims relating to damage from

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Speaker 1: ex tropical cyclone Alfred, telling investors it brought in more

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Speaker 1: staff to work through the claims. Nickel Industries, the biggest

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Speaker 1: pure play nickel producer lists on the as X, rebounded

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Speaker 1: nine percent today. It had lost one quarter of its

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Speaker 1: value yesterday after one of its major shareholders dumped half

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Speaker 1: its stock below the asking price, and patent and trademark

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Speaker 1: firm IPH tumbled nine percent and was the worst performing

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Speaker 1: stock on the ASX two hundred after it announced that

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Speaker 1: longtime chief financial officer John Wadley was leaving the company

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Speaker 1: and storying number five. The number of industrial disputes in

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Speaker 1: Australia is on the rise, with working days lost last

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Speaker 1: quarter the most in more than three years. Until COVID,

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Speaker 1: the number of industrial disputes was trending down, but since

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Speaker 1: then the number of disruptions has increased. Australian Bureau Statistics

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Speaker 1: figures released today show fifty four thousand working days were

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Speaker 1: lost in the December quarter, the highest since June twenty

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Speaker 1: twenty two. What we're seeing is more disputes, with each

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Speaker 1: individual incident involving fewer workers. Having said that, compared to

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Speaker 1: the eighties, nineties and noughties, the level of industrial disputes

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Speaker 1: is actually pretty low. That's it for the Afternoon Report

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Speaker 1: for Wednesday, the thirteenth of March twenty twenty five. Make

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Speaker 1: sure you hit follow on the podcast. We will be

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Speaker 1: back tomorrow morning with the Thursday edition of Fear and

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Speaker 1: Greed Business News. I'm Shanelma. Enjoy your evening.