1 00:00:03,560 --> 00:00:06,160 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,200 --> 00:00:08,600 Speaker 1: for Monday, the fourth of August twenty twenty five. I'm 3 00:00:08,640 --> 00:00:11,320 Speaker 1: sure n ayelma. Every afternoon. We've got the five stories 4 00:00:11,320 --> 00:00:13,319 Speaker 1: that happened today that you need to know about. Story 5 00:00:13,360 --> 00:00:17,080 Speaker 1: number one, the SMPASX two hundred closed up just touched 6 00:00:17,120 --> 00:00:20,120 Speaker 1: two points, in fact, to eighty six hundred and sixty 7 00:00:20,120 --> 00:00:24,000 Speaker 1: four points today. It rose, fell, then rose again, though 8 00:00:24,000 --> 00:00:26,600 Speaker 1: it wasn't a super busy day. Best were the gold 9 00:00:26,600 --> 00:00:28,320 Speaker 1: stocks in the back of a rise and the price 10 00:00:28,360 --> 00:00:30,680 Speaker 1: of the precious metal. The big miners did well also, 11 00:00:31,120 --> 00:00:33,440 Speaker 1: as did Willis and Coals. The banks were all lower, 12 00:00:33,760 --> 00:00:37,479 Speaker 1: as were Woodside and QBE. In corporate news, logistics software 13 00:00:37,640 --> 00:00:41,920 Speaker 1: giant wise Tech Global completed its largest acquisition to date, 14 00:00:42,240 --> 00:00:45,160 Speaker 1: finalizing a deal to buy Texas bace E to Open 15 00:00:45,400 --> 00:00:47,519 Speaker 1: for two point one billion US dollars. The deal was 16 00:00:47,520 --> 00:00:50,839 Speaker 1: announced back in May. Wise Tech's share price closed down 17 00:00:50,920 --> 00:00:54,560 Speaker 1: two percent today, and the two independent experts assessing the 18 00:00:54,680 --> 00:00:58,280 Speaker 1: fourteen billion dollar merger between soul Pats and Brickworks have 19 00:00:58,400 --> 00:01:01,560 Speaker 1: said the deal is fair. Ahead of both company shareholders 20 00:01:01,640 --> 00:01:04,880 Speaker 1: voting on the deal on ten September, Storry number two, 21 00:01:04,920 --> 00:01:08,600 Speaker 1: Prime Minister Anthony Albernizi has downplayed expectations for the upcoming 22 00:01:08,640 --> 00:01:13,319 Speaker 1: Economic Roundtable, saying it's name more than a roundtable. Expectations 23 00:01:13,360 --> 00:01:15,959 Speaker 1: have been growing, in part thanks to some high profile 24 00:01:15,959 --> 00:01:19,840 Speaker 1: submissions to the discussion that thoughts were that major policy 25 00:01:19,880 --> 00:01:24,360 Speaker 1: initiatives could flow from the roundtable. These prime ministers seem 26 00:01:24,400 --> 00:01:27,720 Speaker 1: to douse that idea. Unions have demanded tax increases on 27 00:01:27,840 --> 00:01:32,880 Speaker 1: high income earners, family trust, gas exporters, miners and property investors, businesses, 28 00:01:32,959 --> 00:01:35,600 Speaker 1: calls for cuts to corporate taxes, and a komwealf bank 29 00:01:36,000 --> 00:01:39,319 Speaker 1: has called for wealth and superannuation taxes. Story number three. 30 00:01:39,360 --> 00:01:43,960 Speaker 1: Australia's largest steelmaker, Bluescope, has formed a consortium with companies 31 00:01:43,959 --> 00:01:46,880 Speaker 1: from Japan, South Korea and India to bid for the 32 00:01:46,920 --> 00:01:50,080 Speaker 1: ailing way Ala manufacturing plant, which received a two point 33 00:01:50,160 --> 00:01:54,240 Speaker 1: four billion dollar government bailout package earlier this year. Bluescope's 34 00:01:54,240 --> 00:01:57,120 Speaker 1: been working on the Wyala Steel Works bid with South 35 00:01:57,200 --> 00:02:02,120 Speaker 1: Korean steel maker Postco, Japan's Nippon Sta and India's JSW 36 00:02:02,240 --> 00:02:05,640 Speaker 1: Steel Conglomerate. According to the finn Review, the consortium lodged 37 00:02:05,680 --> 00:02:08,400 Speaker 1: an indicative expression of interest in the first stage of 38 00:02:08,440 --> 00:02:11,440 Speaker 1: the sale process, which closed last Friday. It's being handled 39 00:02:11,440 --> 00:02:15,240 Speaker 1: by the Whaler steel Works Administrator Quarteramantha. Sight Number four 40 00:02:15,280 --> 00:02:18,800 Speaker 1: Beach Energy will triple its dividend for shareholders for the 41 00:02:18,840 --> 00:02:21,480 Speaker 1: second half, despite falling to an annual loss and giving 42 00:02:21,520 --> 00:02:24,399 Speaker 1: guidance for production that was lower than forecasts. The oil 43 00:02:24,400 --> 00:02:27,480 Speaker 1: and gas producer forecast a modest increase in production this 44 00:02:27,560 --> 00:02:30,440 Speaker 1: coming year and a big jump in costs for decommissioning 45 00:02:30,480 --> 00:02:33,400 Speaker 1: old fields. Beach, which posted a forty three point eight 46 00:02:33,440 --> 00:02:35,840 Speaker 1: billion dollar net loss for the year end of June thirty, 47 00:02:36,160 --> 00:02:39,839 Speaker 1: also confirmed a cut in reserves which it flagged last week. 48 00:02:39,880 --> 00:02:41,880 Speaker 1: The loss was due to a four hundred and seventy 49 00:02:41,919 --> 00:02:45,400 Speaker 1: four million dollar impairment on its businesses in Western Australia 50 00:02:45,400 --> 00:02:48,200 Speaker 1: and Victoria, which it also advised of last week. Its 51 00:02:48,200 --> 00:02:51,359 Speaker 1: share price jump more than three percent today. Sorry number 52 00:02:51,440 --> 00:02:55,440 Speaker 1: five Israel Prime Minister Benjamin Netanyahu has likened the treatment 53 00:02:55,520 --> 00:02:58,880 Speaker 1: of Israeli hostages by Hamas and Gaza to the way 54 00:02:59,040 --> 00:03:03,600 Speaker 1: Nazis star Jews during the Holocaust. Netanyahu said he shared 55 00:03:03,639 --> 00:03:07,280 Speaker 1: the horror of Israelis after watching videos of two emaciated 56 00:03:07,320 --> 00:03:11,399 Speaker 1: hostages published by Hamas. The video portrays both hostages as 57 00:03:11,400 --> 00:03:15,160 Speaker 1: starving and close to death. I'm quoting Netanyahu on x 58 00:03:15,200 --> 00:03:18,240 Speaker 1: He said, you see them languishing in a dungeon, but 59 00:03:18,360 --> 00:03:21,600 Speaker 1: the monsters of Hamas surrounding them. They have thick, fleshy arms, 60 00:03:21,639 --> 00:03:25,200 Speaker 1: They have everything they need to eat. They are starving them, 61 00:03:25,280 --> 00:03:28,520 Speaker 1: just as the Nazi starved the Jews. Net Nyahu said 62 00:03:28,520 --> 00:03:31,480 Speaker 1: he had asked the Red Cross to give humanitarian assistance 63 00:03:31,560 --> 00:03:34,560 Speaker 1: to the hostages. That's it for the afternoon report for Monday, 64 00:03:34,600 --> 00:03:36,880 Speaker 1: the fourth of August twenty twenty five. Make sure you 65 00:03:36,960 --> 00:03:38,520 Speaker 1: hit follow on the podcast. We will go back to 66 00:03:38,520 --> 00:03:41,280 Speaker 1: our own morning with a Tuesday that's interfearing Green business News. 67 00:03:41,560 --> 00:03:43,560 Speaker 1: I'm sure i alm enjoy your evening