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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 twenty first of January twenty twenty five.

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Speaker 1: I'm Sean Aylmer. Every afternoon, We've got the five stories

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

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Speaker 1: Donald Trump this morning became the forty seventh President of

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Speaker 1: the United States and got to work immediately. In his

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Speaker 1: inaugural address, he said he'd begin the complete restoration of America.

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Speaker 1: He said that energy is the biggest factor contributing to

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Speaker 1: inflation and deregulation, and additional oil and gas production will

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Speaker 1: help bring it down. He's also considering imposing additional tariffs

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Speaker 1: on two of the US's biggest training partners, Canada and Mexico.

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Speaker 1: He gave TikTok a seventy five day reprieve from a

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Speaker 1: nationwide band so his administration has time to decide what

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Speaker 1: to do about the popular video sharing app. Who also

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Speaker 1: signed an order to end birthright citizenship withdrew from the

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Speaker 1: World Health Organization, declared a national emergency on energy and

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Speaker 1: approved measures to address it. He also declared an emergency

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Speaker 1: at the US Mexico border. Very very busy man initially

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Speaker 1: Wall Street rows in after hours trading, but the US

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Speaker 1: dollar fell. The local share market initially rallied about one percent,

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Speaker 1: but then the comments about tariffs on Mexico and Canada

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Speaker 1: triggered it sell off. The currencies of Mexico, Canada, and

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Speaker 1: China all dropped sharply. The Aussie dollar was back about

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Speaker 1: sixty three US cents before the inauguration, then we had

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Speaker 1: those tarifts comments. It's down to about sixty two US

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Speaker 1: cents at the moment. Story number two. Both the Coalition

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Speaker 1: and Labor are upping their social media activity ahead of

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Speaker 1: the next election, even as they implement a ban on

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Speaker 1: under sixteen's accessing online platforms. Both sides want high quality

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Speaker 1: and original content to engage younger Australians. According to a

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Speaker 1: report in The Financial Review, Peter Dutton has pushed the

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Speaker 1: Coalition candidates to use TikTok in particular, Labor will favor Facebook. Facebook, Google,

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Speaker 1: search and YouTube are expected to be among the most

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Speaker 1: popular from both sides. The problem about TikTok is likely

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Speaker 1: in politicians can't pay to ensure their videos are promoted

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Speaker 1: where they want them to be, so the content needs

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Speaker 1: organic growth to reach wide audiences. On Facebook, politicians can

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Speaker 1: target specific postcodes and demographics. That makes it easier to

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Speaker 1: get content in front of swinging voters. Story number three.

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Speaker 1: The SMPA six two hundred finished up zero point seven

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Speaker 1: percent today to eight thousand, four hundred and two points.

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Speaker 1: The financials did best in corporate new Santos shares fell

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Speaker 1: two percent after it delayed a two billion dollar plus

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Speaker 1: oil and gas joint venture proposed in Western Australia. The

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Speaker 1: news sent its minority partner, Carniban Energy share price down

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Speaker 1: about twenty percent. Hub twenty four jumped to eleven percent after

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Speaker 1: the Wealth Platform recorded strong quarterly inflows, and Liontown jumped

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Speaker 1: twelve percent best on the day after it said lithium

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Speaker 1: output triple in the December quarter. It's back to the

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Speaker 1: level it was but in twenty twenty three. Story number four.

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Speaker 1: West Farmers is closing its struggling marketplace business Catch as

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Speaker 1: it fights to take on ultra cheap international sites such

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Speaker 1: as chi As, TMU and US giant Amazon. Catch will

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Speaker 1: stop training in its own right in the fourth quarter

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Speaker 1: of the twenty twenty five financial year that's the June

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Speaker 1: quarter this year. After years of losses, West Farmers has

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Speaker 1: had enough It bought Catch in twenty nineteen for two

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Speaker 1: hundred and thirty million dollars, lost about one hundred million

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Speaker 1: dollars on it last year. Catch sells everything from kids

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Speaker 1: sneakers to electronics and books, but obviously not enough of them.

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Speaker 1: The biggest online players in Australia, at least in the

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Speaker 1: retail space, Woolies comes in at number one, Amazon comes

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Speaker 1: in at number two, Coals, then office Works, JB, High

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Speaker 1: Fi and Endeavor. According to Goldman Sachs, Amazon's the big

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Speaker 1: player in the market in terms of investment five billion

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Speaker 1: dollars since twenty twenty two and storing number five. BHP

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Speaker 1: said it's copper production rose ten percent in the first

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Speaker 1: half after its Escandida mine in Chile reached record production.

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Speaker 1: It's the world's biggest minor BHP now. Iron ore production

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Speaker 1: was up one percent. Steel making coal production was down

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Speaker 1: twenty one percent. It has sold some it's cold assets.

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Speaker 1: Nickel production is down thirty one percent. That's after its

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Speaker 1: suspended operations as nickel prices tumbled in the second half

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Speaker 1: of last year. Copper, however, is the hot commodity. We

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Speaker 1: have Bancoor and Rio talking about a merger on the

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Speaker 1: back of it, BHP was talking to Anglo American about

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Speaker 1: buying them on the back of copper prices. The good

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Speaker 1: news is that Escondina in Chile, which Rio owns thirty

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Speaker 1: percent of, is doing really well. The bad news is

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Speaker 1: Olympic Dam in South Australia ain't doing so well. BHPS

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Speaker 1: share price filled one percent today. That's it for the

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Speaker 1: afternoon report for Tuesday, the twenty first of January twenty

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Speaker 1: twenty five. Make sure you hit follow on the podcast.

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Speaker 1: We'll be back tomorrow morning with the Wednesday edition of

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Speaker 1: Fear and Greed Business News. I'm Sean Elmer. Enjoy your evening.