1 00:00:04,160 --> 00:00:07,280 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Monday, 2 00:00:07,320 --> 00:00:10,160 Speaker 1: the fourth of August twenty twenty five. I'm sure Naolma. 3 00:00:10,280 --> 00:00:12,680 Speaker 1: Every afternoon we've got the five stories that happened today 4 00:00:12,680 --> 00:00:14,520 Speaker 1: that you need to know about. Story number one. The 5 00:00:14,560 --> 00:00:18,280 Speaker 1: smpas X two hundred closed up just touch two points 6 00:00:18,280 --> 00:00:21,680 Speaker 1: in fact, to eighty six hundred and sixty four points today. 7 00:00:21,840 --> 00:00:25,160 Speaker 1: It rose, fell, then rose again, though it wasn't a 8 00:00:25,160 --> 00:00:27,720 Speaker 1: super busy day. Best were the gold stocks on the 9 00:00:27,720 --> 00:00:29,800 Speaker 1: back of a rise and the price of the precious metal. 10 00:00:29,840 --> 00:00:32,960 Speaker 1: The big miners did well also, as did Willis and Coals. 11 00:00:33,000 --> 00:00:36,080 Speaker 1: The banks were all lower, as were Woodside and QBE. 12 00:00:36,240 --> 00:00:40,480 Speaker 1: In corporate newars logistics software giant wise Tech Global completed 13 00:00:40,560 --> 00:00:44,080 Speaker 1: its largest acquisition to date, finalizing a deal to buy 14 00:00:44,200 --> 00:00:47,080 Speaker 1: Texas bace E to Open for two point one billion 15 00:00:47,200 --> 00:00:50,040 Speaker 1: US dollars. The deal was announced back in May. Wis 16 00:00:50,120 --> 00:00:52,800 Speaker 1: Tech's share price closed down two percent today, and the 17 00:00:52,840 --> 00:00:57,320 Speaker 1: two independent experts assessing the fourteen billion dollar merger between 18 00:00:57,360 --> 00:01:00,440 Speaker 1: soul Pats and Brickworks have said the deal is fair. 19 00:01:00,720 --> 00:01:03,639 Speaker 1: Ahead of both company shareholders voting on the deal on 20 00:01:03,720 --> 00:01:07,120 Speaker 1: ten September, Storry number two, Prime Minister Anthony Albernizi has 21 00:01:07,160 --> 00:01:11,480 Speaker 1: downplayed expectations for the upcoming Economic Roundtable, saying it's no 22 00:01:11,640 --> 00:01:15,080 Speaker 1: more than a roundtable. Expectations have been growing, in part 23 00:01:15,160 --> 00:01:18,399 Speaker 1: thanks to some high profile submissions to the discussion that 24 00:01:18,959 --> 00:01:22,560 Speaker 1: thoughts were that major policy initiatives could flow from the 25 00:01:22,680 --> 00:01:26,000 Speaker 1: round table. These prime ministers seem to douse that idea. 26 00:01:26,480 --> 00:01:30,000 Speaker 1: Unions have demanded tax increases on high income earners, family trust, 27 00:01:30,120 --> 00:01:34,200 Speaker 1: gas exporters, miners and property investors, businesses, calls for cuts 28 00:01:34,240 --> 00:01:37,120 Speaker 1: to corporate taxes, and the komwealf Bank has called for 29 00:01:37,160 --> 00:01:42,520 Speaker 1: wealth and superannuation taxes. Story number three. Australia's largest steelmaker, Bluescope, 30 00:01:42,640 --> 00:01:45,720 Speaker 1: has formed a consortium with companies from Japan, South Korea 31 00:01:45,800 --> 00:01:49,440 Speaker 1: and India to bid for the ailing way Ala manufacturing plant, 32 00:01:49,440 --> 00:01:52,360 Speaker 1: which received a two point four billion dollar government bailout 33 00:01:52,400 --> 00:01:56,240 Speaker 1: package earlier this year. Bluescope's been working on the Wyala 34 00:01:56,360 --> 00:01:59,919 Speaker 1: Steel Works bid with South Korean steel maker Postco, japan 35 00:02:00,160 --> 00:02:04,320 Speaker 1: nip On Steel, and India's jsw Steel Conglomerate. According to 36 00:02:04,360 --> 00:02:07,560 Speaker 1: the finn Review, the consortium lodged an indicative expression of 37 00:02:07,600 --> 00:02:10,000 Speaker 1: interest in the first stage of the sale process, which 38 00:02:10,000 --> 00:02:13,120 Speaker 1: closed last Friday. It's being handled by the Whaler steel 39 00:02:13,120 --> 00:02:17,000 Speaker 1: Works Administrator Quadamantha Stan Number four Beach Energy will triple 40 00:02:17,040 --> 00:02:20,919 Speaker 1: its dividend for shareholders for the second half, despite falling 41 00:02:20,919 --> 00:02:23,200 Speaker 1: to an annual loss and giving guidance for production that 42 00:02:23,320 --> 00:02:26,359 Speaker 1: was lower than forecasts. The oil and gas producer forecast 43 00:02:26,360 --> 00:02:28,840 Speaker 1: a modest increase in production this coming year and a 44 00:02:28,840 --> 00:02:32,680 Speaker 1: big jump in costs for decommissioning old fields. Beach, which 45 00:02:32,720 --> 00:02:35,040 Speaker 1: posted a forty three point eight billion dollar net loss 46 00:02:35,040 --> 00:02:37,799 Speaker 1: for the year end of June thirty, also confirmed a 47 00:02:37,880 --> 00:02:40,840 Speaker 1: cut in reserves, which it flagged last week. The loss 48 00:02:40,880 --> 00:02:43,560 Speaker 1: was due to a four hundred and seventy four million 49 00:02:43,560 --> 00:02:46,840 Speaker 1: dollar impairment on its businesses in Western Australia and Victoria, 50 00:02:46,919 --> 00:02:49,200 Speaker 1: which it also advised of last week. Its share price 51 00:02:49,240 --> 00:02:52,760 Speaker 1: jump more than three percent today. Sorry Number five Israel 52 00:02:52,800 --> 00:02:56,760 Speaker 1: Prime Minister Benjamin Netanyahu has likened the treatment of Israeli 53 00:02:56,840 --> 00:03:00,760 Speaker 1: hostages by Hamas and Gaza to the way Nazi starved 54 00:03:00,880 --> 00:03:04,640 Speaker 1: Jews during the Holocaust. Netanyahu said he shared the horror 55 00:03:04,680 --> 00:03:09,040 Speaker 1: of Israelis after watching videos of two emaciated hostages published 56 00:03:09,040 --> 00:03:12,640 Speaker 1: by Hamas. The video portrays both hostages as starving and 57 00:03:12,720 --> 00:03:16,240 Speaker 1: close to death. I'm quoting Netanyahu on x He said, 58 00:03:16,600 --> 00:03:19,520 Speaker 1: you see them languishing in a dungeon, but the monsters 59 00:03:19,560 --> 00:03:22,400 Speaker 1: of Hamas surrounding them. They have thick, fleshy arms, They 60 00:03:22,400 --> 00:03:25,799 Speaker 1: have everything they need to eat. They are starving them, 61 00:03:25,919 --> 00:03:29,119 Speaker 1: just as the Nazi starved the Jews. Net Nyahu said 62 00:03:29,120 --> 00:03:32,080 Speaker 1: he had asked the Red Cross to give humanitarian assistance 63 00:03:32,160 --> 00:03:35,560 Speaker 1: to the hostages. That's it for the afternoon report for Monday, 64 00:03:35,600 --> 00:03:37,560 Speaker 1: the fourth of August twenty twenty five. Make sure he 65 00:03:37,600 --> 00:03:39,760 Speaker 1: hit follow on the podcast. We will be back tomorrow 66 00:03:39,760 --> 00:03:42,240 Speaker 1: morning with a Tuesday edition. In the past five business News, 67 00:03:42,320 --> 00:03:45,440 Speaker 1: I Fear and Greek I'm Sean Eelma. Enjoy your evening.