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

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Speaker 1: for Tuesday, the ninth of September twenty twenty five. Are

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Speaker 1: Michael Thompson. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Let's go

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Speaker 1: story number one. The S and p ASX two hundred

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Speaker 1: fell zero point five percent today to eight hundred and

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Speaker 1: four points eight of the eleven sectors losing ground today,

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Speaker 1: headlined by the banks. Commonwealth Bank was off one point

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Speaker 1: three percent, Westpac zero point eight percent after Morgan Stanley

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Speaker 1: called it the least preferred major bank. A and Z

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Speaker 1: was off zero point two percent after the bank confirmed

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Speaker 1: it would cut three and a half thousand jobs as

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Speaker 1: part of new CEO Nunomatos's structural overhaul. A good day

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Speaker 1: for the gold miners, pushed higher by strong gold prices,

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Speaker 1: and energy stocks dipped, led by Woodside, still off the

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Speaker 1: back of that decision by OPEC plus to increase oil

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Speaker 1: production next month. CSL fell one point six percent after

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Speaker 1: announcing a share buyback, and News Corporations share price dropped

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Speaker 1: one point four percent. There's a lot in this one.

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Speaker 1: It came after a breakthrough in the battle for the

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Speaker 1: future of the Murdoch media empire, Lachlan Murdoch effectively buying

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Speaker 1: out his siblings in a five billion dollar deal. We

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Speaker 1: will have more on that one in tomorrow's show. Story

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Speaker 1: number two Australia Post will resume postal services to the

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Speaker 1: United States in the next fortnight after reaching an agreement

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Speaker 1: with Zonos, an authorized provider of the US Customs and

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Speaker 1: Border Protection Agency, to develop systems to accept and pay

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Speaker 1: President Donald Trump's new tariffs. We've talked about this in

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Speaker 1: the past. Australia Post was forced to suspend most US

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Speaker 1: postal services on August twenty six because it was unable

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Speaker 1: to prepare its systems in time to adapt to Trump's

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Speaker 1: new tariff regime that came into effect then on August

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Speaker 1: twenty nine, so three days later. Gary Starr, who is

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Speaker 1: the executive general Manager of Parcel Post and e Commerce

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Speaker 1: Services for Australia Post, said Australia Posts had been caught

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Speaker 1: in a fast moving seitay situation and has prioritized providing

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Speaker 1: a solution as soon as possible. Story number three. Prime

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Speaker 1: Minister Anthony Albanezi has weighed into the ongoing storm around

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Speaker 1: comments last week from Liberal Senator to center non Perjumper Price,

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Speaker 1: saying that the ALP was allowing large groups of Indian

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Speaker 1: migrants to boost Labour's vote. The Prime Minister called on

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Speaker 1: Senator Price to apologize. With pressure growing on the Senator,

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Speaker 1: she said she regretted the lack of clarity in her comments,

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Speaker 1: but argued that she'd been trying to criticize the way

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Speaker 1: that Labour quote aggressively caught the migrant community while raising

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Speaker 1: wider concerns about the pressures of mass migrations on the

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Speaker 1: nation services and infrastructure. Meanwhile, the Indian government is seeking

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Speaker 1: assurances from Canberra about the welfare Indians in Australia after

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Speaker 1: raising alarm about the recent nationwide March for Australia protests

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Speaker 1: against migration from countries including India. On to story number four.

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Speaker 1: Now and BHP will pay one hundred and ten million

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Speaker 1: dollars to settle a shareholder class action here in Australia

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Speaker 1: over the twenty fifteen Somaco dam collapse in Brazil, which

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Speaker 1: killed nineteen people and caused catastrophic environmental damage. The deal

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Speaker 1: was struck just hours before trial and still needs federal

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Speaker 1: court approval, includes no admission of liability. BHP says it

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Speaker 1: expects ensure As will cover most of the settlement, with

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Speaker 1: a large share of the payout expected to go to

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Speaker 1: lawyers and the US litigation funder backing the case, with

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Speaker 1: investors to receive the balance, and that comes after the

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Speaker 1: share price for BHP fell significantly more than twenty percent

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Speaker 1: after the disaster occurred back in twenty fifteen. The miner

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Speaker 1: still faces a far larger UK class action that was

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Speaker 1: originally pitched at seventy billion dollars, but it's now under

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Speaker 1: pressure as many Brazilian claimants switched to a forty five

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Speaker 1: billion dollar local compensation scheme. BHP share price closed one

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Speaker 1: percent lower today and finally Story number five, the fifth

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Speaker 1: radio ratings of the year have been released today and

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Speaker 1: Kiss FM duo Kyle and JACKIEO have taken out the

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Speaker 1: top spot in Sydney, Breakfast overtaking two GB's ben Fordham

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Speaker 1: easy listening station. Smooth FM held onto the number one

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Speaker 1: spot overall, but both two GB and KISSFM are relatively

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Speaker 1: close behind, and the Signs of Life too For Kyle

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Speaker 1: and Jackie O's Melbourne expansion, the show recording an increase

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Speaker 1: in audience in the city. It is still a very

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Speaker 1: long way behind the market leaders, though, with the Breakfast

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Speaker 1: Show on news talk station three AW having a big

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Speaker 1: jump in audience, now nearly double the audience share of

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Speaker 1: any other station. Three airw itself returned to the number

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Speaker 1: one spot overall, taking back its title from Gold after

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Speaker 1: a shock result last time. And that's it for the

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Speaker 1: afternoon Report for Tuesday, the ninth of September twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast and we'll

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Speaker 1: be back tomorrow morning with the Wednesday edition of The

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Speaker 1: Fast by Business News by Fear and Greed. A'm Michael Thompson.

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Speaker 1: Enjoy your evening