1 00:00:03,600 --> 00:00:06,600 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,640 --> 00:00:09,479 Speaker 1: for Thursday, the eighteenth of September twenty twenty five. Are 3 00:00:09,520 --> 00:00:12,080 Speaker 1: Michael Thompson and every afternoon we've got the five stories 4 00:00:12,080 --> 00:00:13,880 Speaker 1: that happened today that you need to know about. 5 00:00:14,160 --> 00:00:16,560 Speaker 2: Let's go with story number one. There is a lot 6 00:00:16,680 --> 00:00:18,560 Speaker 2: going on in markets today. 7 00:00:18,600 --> 00:00:21,520 Speaker 1: The S and PA Sex two hundred fell zero point 8 00:00:21,560 --> 00:00:25,160 Speaker 1: eight percent today. That came after a relatively weak lead 9 00:00:25,239 --> 00:00:28,280 Speaker 1: in from Wall Street. Despite the Federal Reserve cutting interest 10 00:00:28,320 --> 00:00:31,080 Speaker 1: rates by a quarter of one percent overnight, the Fed 11 00:00:31,160 --> 00:00:35,600 Speaker 1: did flag a perhaps cautious approach to future cuts and 12 00:00:35,640 --> 00:00:38,920 Speaker 1: that affected Australian companies with US exposure. I think toll 13 00:00:39,040 --> 00:00:42,480 Speaker 1: road operator Transurban building supplies company James Hardy. They both 14 00:00:42,520 --> 00:00:45,720 Speaker 1: fell more than two percent today. But the big story 15 00:00:45,760 --> 00:00:50,120 Speaker 1: locally was Abu Dhabi National Oil Company withdrawing its thirty 16 00:00:50,159 --> 00:00:53,440 Speaker 1: six billion dollar takeover bid for Santos, which is of 17 00:00:53,440 --> 00:00:57,080 Speaker 1: course Australia's second biggest oil and gas producer. It was 18 00:00:57,080 --> 00:01:00,000 Speaker 1: announced late last night, came as a bit of a show, 19 00:01:00,240 --> 00:01:02,880 Speaker 1: and today investors sold off the stock. It closed nearly 20 00:01:02,920 --> 00:01:07,400 Speaker 1: twelve percent lower. The shares in Santos other energy companies 21 00:01:07,400 --> 00:01:09,119 Speaker 1: were also caught up in the sell off as well. 22 00:01:09,160 --> 00:01:12,240 Speaker 1: Woodside dropped six point three percent, Beach Energy was down 23 00:01:12,319 --> 00:01:15,360 Speaker 1: four point five percent. Commonwealth Bank lost a little bit 24 00:01:15,360 --> 00:01:17,839 Speaker 1: of ground today, little bit. There's actually two point three percent. 25 00:01:18,160 --> 00:01:21,840 Speaker 1: The other big banks barely moved. The other factor affecting 26 00:01:21,880 --> 00:01:24,160 Speaker 1: markets today was the labor force figures. We had an 27 00:01:24,200 --> 00:01:27,320 Speaker 1: unemployment steady at four point two percent, though economists say 28 00:01:27,360 --> 00:01:31,080 Speaker 1: the jobs market is softening after these figures showed five 29 00:01:31,560 --> 00:01:35,280 Speaker 1: four hundred people lost work in August. I told you 30 00:01:35,360 --> 00:01:37,880 Speaker 1: it was a massive day in markets today. On to 31 00:01:37,920 --> 00:01:40,480 Speaker 1: story number two. The Albanesi government has locked in a 32 00:01:40,560 --> 00:01:44,399 Speaker 1: new twenty thirty five climate target, committing to cut emissions 33 00:01:44,760 --> 00:01:47,960 Speaker 1: by between sixty two and seventy percent on two. 34 00:01:47,760 --> 00:01:50,440 Speaker 2: Thousand and five levels. The target was signed off by 35 00:01:50,560 --> 00:01:53,480 Speaker 2: cabinet this morning. It is lower than the Climate Change 36 00:01:53,520 --> 00:01:57,320 Speaker 2: Authority's original range of sixty five to seventy five percent, 37 00:01:57,560 --> 00:01:59,800 Speaker 2: but it's going to be underpinned by new policies across 38 00:01:59,800 --> 00:02:03,520 Speaker 2: the tricity, Transport and industry. Prime Minister Anthony Albernezi said 39 00:02:03,720 --> 00:02:07,960 Speaker 2: it is ambitious but achievable. Climate Minister Chris Bowen confirmed 40 00:02:08,360 --> 00:02:11,680 Speaker 2: anything above seventy percent was just not realistic. The federal 41 00:02:11,680 --> 00:02:14,640 Speaker 2: opposition has declared it is dead against the new target, 42 00:02:14,919 --> 00:02:17,240 Speaker 2: saying it fails on both cost and credibility. 43 00:02:17,400 --> 00:02:19,040 Speaker 1: We're going to have a lot more on this one 44 00:02:19,040 --> 00:02:23,280 Speaker 1: in tomorrow morning show. Story number three. Kmart has been 45 00:02:23,320 --> 00:02:26,240 Speaker 1: found to have breached Australian's privacy over its use of 46 00:02:26,280 --> 00:02:31,160 Speaker 1: facial recognition technology. The Privacy watchdog ruled the retailer collected 47 00:02:31,240 --> 00:02:36,680 Speaker 1: sensitive biometric data without properly notifying or seeking consent from customers. 48 00:02:36,880 --> 00:02:39,560 Speaker 1: This was during a trial across twenty eight stores from 49 00:02:39,600 --> 00:02:43,520 Speaker 1: twenty twenty until twenty twenty two. Kmart, which is owned 50 00:02:43,600 --> 00:02:46,840 Speaker 1: by wes Farmers, says the technology was used to combat 51 00:02:46,919 --> 00:02:50,880 Speaker 1: refund fraud and arise in violent incidents against staff, but 52 00:02:50,919 --> 00:02:54,880 Speaker 1: the commissioner found the response was not proportionate. Bunnings, which 53 00:02:54,919 --> 00:02:58,399 Speaker 1: is also owned by West Farmers, was also rebuked last 54 00:02:58,480 --> 00:03:01,320 Speaker 1: year for similar breaches. At the same time, though, calls 55 00:03:01,320 --> 00:03:04,560 Speaker 1: for this kind of technology they are growing louder because 56 00:03:04,600 --> 00:03:09,120 Speaker 1: retailers are confronting surging crime rates. Story number four, How 57 00:03:09,160 --> 00:03:11,919 Speaker 1: about this one? Tesla has flicked the switch on its 58 00:03:11,960 --> 00:03:16,040 Speaker 1: full self driving supervised system in Australia. And New Zealand, 59 00:03:16,440 --> 00:03:19,240 Speaker 1: making them the first right hand drive markets in the 60 00:03:19,320 --> 00:03:23,160 Speaker 1: world to access the technology. Well then, fifty thousand owners 61 00:03:23,160 --> 00:03:26,000 Speaker 1: of Model three and Model Y vehicles equipped with the 62 00:03:26,040 --> 00:03:29,520 Speaker 1: latest hardware can now download the update. Those who paid 63 00:03:29,639 --> 00:03:32,120 Speaker 1: upfront for it a while ago will get first access. 64 00:03:32,400 --> 00:03:37,440 Speaker 1: Tesla insists that the system doesn't make cars autonomous. Drivers 65 00:03:37,440 --> 00:03:39,360 Speaker 1: will still need to have their hands on the wheel, 66 00:03:39,680 --> 00:03:41,880 Speaker 1: still need to be ready to take over at any time, 67 00:03:42,160 --> 00:03:46,000 Speaker 1: but this does mark the most advanced driver assistance tech 68 00:03:46,280 --> 00:03:50,360 Speaker 1: yet available on Australian roads. And finally, story number five, 69 00:03:50,480 --> 00:03:53,800 Speaker 1: King Charles has given a rare political message urging US 70 00:03:53,880 --> 00:03:57,640 Speaker 1: President Donald Trump to treat the Orcus submarine packed as 71 00:03:57,680 --> 00:04:02,040 Speaker 1: a vital alliance. Speaking at a state banquet at Windsor Castle, 72 00:04:02,120 --> 00:04:05,400 Speaker 1: the King linked the partnership to Britain and America's shared 73 00:04:05,520 --> 00:04:08,360 Speaker 1: history in two World Wars, while also calling for stronger 74 00:04:08,400 --> 00:04:12,120 Speaker 1: support for Ukraine. The remarks come at a very good 75 00:04:12,120 --> 00:04:16,040 Speaker 1: time for Australia, with the Pentagon reviewing the Orchestra program, 76 00:04:16,240 --> 00:04:20,240 Speaker 1: raising questions over the US President's commitment to it. This 77 00:04:20,400 --> 00:04:22,920 Speaker 1: was quite a banquet being held in the UK, though 78 00:04:23,040 --> 00:04:26,919 Speaker 1: guests there included business leaders like Apple's Tim Cook and 79 00:04:27,040 --> 00:04:30,760 Speaker 1: videos Jensen Huang. That's it for the afternoon Report for Thursday, 80 00:04:30,800 --> 00:04:33,400 Speaker 1: the eighteenth of September twenty twenty five. Make sure you 81 00:04:33,520 --> 00:04:35,599 Speaker 1: hit follow on the podcast and we'll be back tomorrow 82 00:04:35,680 --> 00:04:37,760 Speaker 1: morning with the Friday edition of Fair and Breed. 83 00:04:37,960 --> 00:04:39,719 Speaker 2: I'm Mirk Thompson. Enjoy your evening.