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

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Speaker 1: for Friday, the fifth of September twenty twenty five. Oh

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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 SMPA is Sex two hundred closed

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

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Speaker 1: seventy one points nine out of the eleven sectors gained ground.

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Speaker 1: It followed a strong lead in from Wall Street, where

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Speaker 1: the S and P five hundred hit a new record.

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Speaker 1: That was because a payroll data that made a September

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Speaker 1: rate cut from the FED more likely. Locally, the techtocs

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Speaker 1: were a strong performer by now pay Later Company Zip

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Speaker 1: was up four point seven percent and Life three sixty

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Speaker 1: was up three point one percent. Gold climbed again, giving

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Speaker 1: a boost to most of the gold miners and a

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Speaker 1: good day for some of the retailers to meyer up

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Speaker 1: three point eight percent. JB hi Fi and West Farmers

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Speaker 1: were both up nearly two percent, but overall the rally

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Speaker 1: wasn't quite enough to make up all of the losses

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Speaker 1: from early in the week, and the ASX finished the

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Speaker 1: week lower than where it started, ending a four week

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Speaker 1: winning streak. Story number two, Labour's plan to lift the

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Speaker 1: tax rate on super earnings for balances above three million

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Speaker 1: dollars has apparently stalled, with Shadow Treasurer at Ted O'Brien

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Speaker 1: labeling the government cowards for going slow, with no sign

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Speaker 1: of the bill being debated in parliament. The policy, which

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Speaker 1: has forecast to raise two point seven billion dollars a year,

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Speaker 1: is under review inside government amid criticism of its proposal

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Speaker 1: to tax unrealized gains, a move that's been likened to

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Speaker 1: taxing paper profits. It's not just the opposition having a cracklough.

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Speaker 1: Prime Minister Anthony Albanezi faces pressure from both sides, all

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Speaker 1: sides really, business groups, farmers. Even Paul Keating has warned

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Speaker 1: that it risks damaging confidence in retirement savings, but Treasurer

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Speaker 1: Jim Chalmers insists the plan is still on track, even

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Speaker 1: as Labour weighs up some possible refinements. Story number three. Today,

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Speaker 1: Quantis's sawing share price has handed former CEO Alan Joyce

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Speaker 1: a hefty parting bonus worth almost four million dollars. How

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Speaker 1: about this, though it pushes his total remuneration over the

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Speaker 1: seventeen years that he spent at the airline and then

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Speaker 1: this period since he left to one hundred and seventeen

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Speaker 1: million dollars. Joyce's final bonus comes despite the airline with

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Speaker 1: holding nine million dollars last year after damning court rulings

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Speaker 1: over its treatment of workers. Attention now turns to curren

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Speaker 1: CEO Vanessa Hudson. Her paypacket climb to six point three

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Speaker 1: million dollars, which is much less than what Alan Joyce

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Speaker 1: received towards the end of his stint at the airline

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Speaker 1: after the board cut her bonus by twenty two percent

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Speaker 1: in response to this year's massive cyber attack that exposed

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Speaker 1: the data of six million customers. Some investors were pushing

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Speaker 1: for tougher cuts, but chair John Mullen told investors in

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Speaker 1: Quantus's annual report that was published today that the board

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Speaker 1: had quote comprehensively dealt with the remuneration consequences for management

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Speaker 1: from this matter in the last financial year. Quantas's share

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Speaker 1: price closed zero point six percent higher today. Story number

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Speaker 1: four at Lassian is taking on Google and Microsoft and

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Speaker 1: Apple and the browser Wars. Co founder Mike cannon Brooks

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Speaker 1: has announced the company is spending nearly a billion dollars

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Speaker 1: to buy the Browser Company of New York. I love

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Speaker 1: a company that tells you exactly what it does. It

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Speaker 1: is a startup behind two other browsers. The aim here

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Speaker 1: is to reinvent the browser for the AI era of work.

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Speaker 1: Canon Brooks has argued that today's browsers were built for

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Speaker 1: kind of casual browsing, not the more demanding requirements of

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Speaker 1: people who make their living using a browser with dozens

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Speaker 1: of tabs open. We know what that's like. Atlasian's vision

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Speaker 1: is a productivity first browser powered by AI that can

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Speaker 1: streamline tasks across email, projects, budgets, design tools, that kind

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Speaker 1: of thing. This is at Lassian's biggest acquisition since loom

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Speaker 1: in twenty twenty three three and finally story number five.

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Speaker 1: Georgio Armani, one of the most powerful figures in global fashion,

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Speaker 1: has died in Milan at the age of ninety one.

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Speaker 1: Omani built one of the most profitable privately owned fashion

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Speaker 1: empires in the world, generating billions in annual revenue and

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Speaker 1: setting a template. Really that's studied in business schools. I'm

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Speaker 1: deferring to the New York Times on this one, who

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Speaker 1: said that his suits redefined corporate dress in the eighties,

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Speaker 1: his embrace of Hollywood stars effectively inventing red carpet marketing,

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Speaker 1: turning fashion into big business. Amani Group today spans clothing

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Speaker 1: lines and fragrances, accessories, hotels, restaurants. It is a diversified

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Speaker 1: empire that is still entirely family controlled. How about this.

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Speaker 1: Though even into his nineties, Amani remained at the helm

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Speaker 1: of the company, resisting calls to name a successor, saying

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Speaker 1: there'll be plenty of time for them to figure that

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Speaker 1: out later. That's it for the afternoon report for Friday,

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Speaker 1: the fifth of September twenty twenty five. Make sure you

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Speaker 1: hit follow on the podcast and we'll be back tomorrow

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Speaker 1: morning with the weeknd and addition of Fear and Braid.

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Speaker 1: I'm Chaele Thompson. Enjoy your evening.