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

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Speaker 1: Report for Thursday, the nineteenth of September twenty twenty four.

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Speaker 1: I'm Suan Elmer. Every afternoon, we've got the five stories

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Speaker 1: that happen today that you need to know about, straight

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Speaker 1: number one, and plenty of economic news over the past

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Speaker 1: twenty four hours. The Australian Bureau Statistics labor force statistics

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Speaker 1: show that forty seven five hundred new jobs were created

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Speaker 1: last month, mostly part time roles. The overall unemployment rate

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Speaker 1: was unchanged at four point two percent. While more people

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Speaker 1: are looking for work, there are more jobs to go around.

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Speaker 1: While the leading indicators of the labor market suggest it

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Speaker 1: will slow, it's only doing so very slowly. Also overnight,

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Speaker 1: the US Federal Reserve cut the benchmark rate in the

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Speaker 1: world's biggest economy by fifty basis points. The era of

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Speaker 1: easing has begun, with the Fed signaling more reductions are

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Speaker 1: on the way. It's the first cut in more than

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Speaker 1: four years and leaves the Fed Fund's target rate at

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Speaker 1: between four point seventy five percent and five percent. Stro

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Speaker 1: at number two. Well, it's the full out from the

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Speaker 1: US rate card and the employment figures combined, they helped

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Speaker 1: push the local market to a new record close of

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Speaker 1: eight thousand, one hundred and eighty two points, but not

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Speaker 1: before it briefly touched eighty two hundred points at about

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Speaker 1: three o'clock today. The Big I and all miners did

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Speaker 1: well following a rise in the price of the commodity

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Speaker 1: REO jumped three point four percent, BHP nearly three percent,

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Speaker 1: and force U Metals Group nearly two percent. Woodside was

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Speaker 1: also up, rising one point two percent. Staying in the

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Speaker 1: resources sector, the uranium stocks did well. James Hardy's jumped

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Speaker 1: five percent, while Goodman ain zed and mcquarie Group all

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Speaker 1: rows worst of the large caps, with QBE Transurban and

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Speaker 1: Ria Group. In corporate news, engineering company Monadelphus Group unveiled

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Speaker 1: new contracts totaling two hundred and thirty million dollars. Commercial

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Speaker 1: explosives maker Aurica expects earnings to be above previous forecast

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Speaker 1: for the September half year, and Brisbane based testing Giant

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Speaker 1: alsaid its minerals business has faced volume headwinds, triggering a

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Speaker 1: nine percent drop in its share price. Of the top

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Speaker 1: two hundred straight three, Australia has abstained from a United

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Speaker 1: Nation vote calling on Israel to end its unlawful presence

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Speaker 1: in Palestine. The United Nations General Assembly adopted a Palestinian

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Speaker 1: drafted resolution demanding Israel and its unlawful presence in the

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Speaker 1: occupied Palestinian territory within twelve months. The resolution received one

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Speaker 1: hundred and twenty four votes in favor, while forty three countries,

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Speaker 1: including Australia abstained and Israel, the United States and twelve

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Speaker 1: others voted no. Foreign Affairs Minister Pennywong told ABC Radio

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Speaker 1: the government looked very carefully at the resolution and sought

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Speaker 1: amendments that meant the resolution better affected the July opinion

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Speaker 1: of the International Court of Justice that said Israel's occupation

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Speaker 1: of Palestinian territories and settlements was illegal and should be withdrawn.

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Speaker 1: That's different to unlawful presence. When the amendments weren't forthcoming,

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Speaker 1: Australia decided to abstain Stratama four. Woolworths is under pressure

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Speaker 1: to ditch the big w discount chain and spin off

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Speaker 1: its news l and division and returned to focusing on supermarkets.

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Speaker 1: Willies has been the underperformer of the big two supermarket chains,

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Speaker 1: with Cohles outperforming in terms of sales growth. It's also

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Speaker 1: considered a simpler business than Woolli's. Activist shareholder Dushco Barjik

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Speaker 1: from First Centier Investors, which has a small position in

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Speaker 1: the supermarket Giant, said the big w business is destroying capital.

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Speaker 1: According to report in the AFR, BW competes with Kmart

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Speaker 1: and Target and has struggled for several years. Blackhall Investment

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Speaker 1: Partners Ray Davis said that the New Zealand supermarket's division

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Speaker 1: hasn't performed well and could be sold off. Woolies has

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Speaker 1: expanded aggressively in New Zealand now has about two hundred stores.

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Speaker 1: The comments were directed to New Woolli's CEO Amanda Bardwell.

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Speaker 1: She started in the job three weeks ago. And story

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Speaker 1: number five walkie talkies and solar equipment exploded across Lebanon

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Speaker 1: this morning Australian Time, in an apparent second wave of

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Speaker 1: attax targeting devices, a day after pages used by Hesballah

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Speaker 1: blew up. At least fourteen people killed and more than

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Speaker 1: four hundred and fifty wounded in the second wave, according

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Speaker 1: to Hesbelah, The attacks are widely to believe to have

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Speaker 1: been carried out by Israel. Targeting Hesbelah and have escalated

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Speaker 1: fears of in all that war in the region. Several

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Speaker 1: blasts were heard at a funeral in Beirut for three

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Speaker 1: HESBLA members and a child killed by the exploding pages

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Speaker 1: the day before. The toll from the two days of

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Speaker 1: blast is now thirty two dead, including at least two children,

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Speaker 1: and more than three thousand injured. Israeli Defense Minister you

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Speaker 1: Have Glant said the country is entering a new phase

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Speaker 1: of fighting on its northern border with LEBANON'SIX. The Afternoon

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Speaker 1: Report for Thursday, the nineteenth of September twenty twenty four.

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Speaker 1: Don't forget Tip, follow on the podcast and find Fear

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Speaker 1: and Greed on LinkedIn, Instagram, x TikTok and Facebook. Joined

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Speaker 1: Michael Thompson and I Tomorrow, I'm wanting for the Fast

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Speaker 1: five by Fear and Greed the top five business stories

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Speaker 1: you need to know in five minutes. I'm Sean Elmer.

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Speaker 1: Enjoy your evening,