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Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Thursday,

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Speaker 1: the sixth of March twenty twenty five. I'm Sean Almer.

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Speaker 1: Every afternoon, we've got the five stories that happen today

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Speaker 1: that you need to know about. Sorry number one. The

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Speaker 1: local shere market closed down a little over half a

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Speaker 1: percent today, with a run of ex dividend dates weighing

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Speaker 1: on the burse. Oil prices have fallen to a three

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Speaker 1: year low, triggering a sell off in energy stocks. Woodside

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Speaker 1: when ex dividend and had that lower oil price on it,

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Speaker 1: its share price fell five percent, while Santos and m

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Speaker 1: Pole we're down around two percent. In corporate news, Regenerative

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Speaker 1: Medicines that developer Miso Blast is now part of the

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Speaker 1: S and P ASX two hundred was in a great

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Speaker 1: day that day one. It's share price fell eight percent.

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Speaker 1: Mesoblast replaces arcadium lithium, which has been bought by Rio

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Speaker 1: Tinto away from equities. The hard line that Trump administration

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Speaker 1: is taking on tariffs hit the green back, pushing the

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Speaker 1: Aussie dollar high. It's trading around sixty three point five sense.

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Speaker 1: Sorry number two. The Preinancial Regulator is overhauling rules applying

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Speaker 1: to the boards of financial service companies, forcing directors to

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Speaker 1: step down after ten years. The Australian Financial Regulation Authority

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Speaker 1: looks after banks, insurance and superannuation funds. It also wants

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Speaker 1: to have a better say, or at least a greater

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Speaker 1: say in succession planning. Six years after the Haine Royal Commission,

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Speaker 1: Apachair John Lonsdale said he sees areas of weakness, including

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Speaker 1: entities treating compliance with some requirements as a box taking exercise.

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Speaker 1: He doesn't like that new rules would have a ten

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Speaker 1: year limit for directors, meaning, for example, that National Australia

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Speaker 1: Bank chair Phil Chronicle would have to step down next year.

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Speaker 1: APPRA also wants to be informed on succession planning. Presumably

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Speaker 1: it's got an eye on what's going on in the

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Speaker 1: superannuation industry. On that one story. Number three m calls

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Speaker 1: share price for one and a half per cent today

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Speaker 1: after it unveiled plans to reorganize its business following its

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Speaker 1: thirteen billion dollar purchase of US based at Very Global.

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Speaker 1: Am Core and Berry both got shareholder support for the

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Speaker 1: deal over the past week. The new business will have

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Speaker 1: two main parts, Global Flexibles in Global Closures and Containers

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Speaker 1: The packaging giant also said it's on the hunt for

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Speaker 1: new leaders for those two businesses and potentially a new CFO.

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Speaker 1: The merger is set to create a company with four

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Speaker 1: hundred packaging plants and seventy five thousand staff around the world.

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Speaker 1: Sorry number four. Gold companies are having a good time

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Speaker 1: of it at the moment, and today West African Resources

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Speaker 1: share price jumped twelve percent after it said it was

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Speaker 1: targeting much high gold production over the next year. It

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Speaker 1: was the best performer of the ASEX two hundred. Today.

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Speaker 1: West African Resources is constructing a gold mine at Kiaka

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Speaker 1: and the first gold is expected this year. Now Kiaka

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Speaker 1: is in the Kina Faso, West Africa already has a

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Speaker 1: mine there and is hoping to get this one on board.

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Speaker 1: Its forecasting production of four million ounces of gold over

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Speaker 1: the next ten years. Sorry number five. The rhetoric between

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Speaker 1: and US is escalating, with US Defense Secretary Peter Hegsath

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Speaker 1: hitting back at Beijing's saber rattling over a widening trade

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Speaker 1: war between the superpowers. Mister Hegsath said the US was

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Speaker 1: prepared to engage in conventional battle with China, saying those

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Speaker 1: who long for peace must prepare for war. The comments

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Speaker 1: followed post from China's Foreign Ministry saying the country was

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Speaker 1: ready for war with America as it raises defense spending

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Speaker 1: and imposes retaliatory tariffs on US imports. In fact, the

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Speaker 1: post said, if war is what the US wants, be

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Speaker 1: it a tariff war, a trade war, or any other

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Speaker 1: type of war, We're ready to fight until the end.

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Speaker 1: This week, the US hit China twenty percent tariffs in

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Speaker 1: response to what the White House says is a lack

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Speaker 1: of action over fentitional exports. Beijing responded by bursting defense

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Speaker 1: spending and heading the US with tariffs of up to

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Speaker 1: fifteen percent on some agricultural goods. As if the Afternoon

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Speaker 1: Report for Thursday, the sixth of March twenty twenty five,

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

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Speaker 1: be back tomorrow morning with's a Friday edition of the

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Speaker 1: Fast five Business News by Fear and Greed. I'm Sean

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Speaker 1: Elmer and Joey Evening