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Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Tuesday,

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Speaker 1: the fourteenth of May twenty twenty four. I'm sure, almam.

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Speaker 1: Every afternoon, We've got the five stories that happened today

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Speaker 1: that you need to know about. Story number one, the

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Speaker 1: S and PA SX two hundred closed down zero point

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Speaker 1: of three percent today to seven seven hundred and twenty

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Speaker 1: seven points after a week leading from Wall Street. Industrials

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Speaker 1: and real estate stocks did worst, while consumers discretionary did best.

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Speaker 1: It wasn't a massive day on the market ahead of

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Speaker 1: tonight's budget. We can expect to see a bit more

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Speaker 1: action tomorrow. I dare say the banks were generally lower,

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Speaker 1: though Commonwealth Bank ended flat. Rio led the big miners lower,

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Speaker 1: dropping more than one percent. Transurban and QB were among

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Speaker 1: the worst of the large caps, while Woolly's and West

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Speaker 1: Farmers were among the best. Story Number two Plenty of

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Speaker 1: bits and pieces going on in the sheer market today.

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Speaker 1: Shares in lythium and nickel miners were on the rise

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Speaker 1: ahead of the expected stimulus for critical minerals in the

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Speaker 1: federal budget tonight. Igo, Lintown, Resort, Horses, and Challis Mining

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Speaker 1: were all higher, as was Piedmont Lithium shares and pathology

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Speaker 1: group Helius rose after it said it had successfully refinanced

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Speaker 1: and shrunk a debt facility. Hamish McLennan, chair of ARN Media,

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Speaker 1: told investors that he still intends to push for a

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Speaker 1: deal with rival Southern Cross Media, despite its buyout partner,

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Speaker 1: Anchorage Partners, abandoning the offer. IRN share prices down over

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Speaker 1: the past couple of sessions, though shares and GUD holdings

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Speaker 1: did well today after the company said it's on track

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Speaker 1: to meet its full year earnings guidance. Despite a weaker

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Speaker 1: automotive market and billionaire Kerry stakes. A seven Group is

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Speaker 1: continuing to buy up shares and borel as it pushes

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Speaker 1: for full control of the Cement and Ashfeldt Group seven

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Speaker 1: stake in the group has pushed past ninety one percent

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Speaker 1: now Story number three. The Federal Court has provided its

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Speaker 1: reasons for siding with Elon Musk and X over an

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Speaker 1: e safety directive to take down videos showing the stabbing

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Speaker 1: of a Sydney bishop last month. It said the directive

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Speaker 1: wasn't a reasonable demand from a regulator. Federal Court Justice

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Speaker 1: Jeff Kennett ruled in a preliminary decision that there were

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Speaker 1: powerful issues with E Safety's attempt to regulate the global Internet.

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Speaker 1: Kennett found it would likely be ignored or disparaged in

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Speaker 1: other countries even if Australian courts tried to enforce it.

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Speaker 1: A global ban was not therefore a reasonable step as

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Speaker 1: required by Australian law designed to tackle terrorist content. The

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Speaker 1: judge concluded. E Safety's lawyers had argued a global ban

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Speaker 1: was necessary on the sixty five specified videos because Australians

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Speaker 1: could circumvent x's initial block that was limited to this

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Speaker 1: country using simple technical tools. Strong um before a man

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Speaker 1: who lead classified military documents that revealed allegations Australian soldiers

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Speaker 1: committed war crimes in Afghanistan. We will spend at least

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Speaker 1: two years and three months behind bars. David McBride, who's sixty,

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Speaker 1: pleaded guilty to stealing classified material and leaking it to journalists,

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Speaker 1: according to media reports. Just as David moss Up sentenced

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Speaker 1: Bride to an aggregate five years and eight months in

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Speaker 1: prison for three charges in the ace Et Supreme Court,

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Speaker 1: with a non parole period of twenty seven months, Justice

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Speaker 1: Mossup said the former military's lawyer's actions were a gross

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Speaker 1: breach of trust of his position as a lawyer, and

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Speaker 1: there's a significant need to deter similar actions in the future.

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Speaker 1: And story number five, there was more bad news for

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Speaker 1: bonds or employees today who were told they'd be stood

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Speaker 1: down for at least another fortnite as administrators seek formal

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Speaker 1: expressions of interest in the airline. There immedia reports that

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Speaker 1: have yet Me's Airline was interested but isn't anymore. Administrator

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Speaker 1: Hall Chadwick said there are about twenty interested parties, though

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Speaker 1: I'm not quite sure how interested they really are. The

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Speaker 1: fortnite extension effects staff and passengers, meaning more customers will

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Speaker 1: become what's known as a contingent creditor because they aren't

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Speaker 1: going to get a refund on the tickets they bought.

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Speaker 1: That's if the afternoon report for Tuesday, the fourteenth of

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Speaker 1: May twenty twenty four Michael Thompson and I will be

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Speaker 1: back tomorrow morning with all the budgeteers and the Wednesday

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Speaker 1: edition of Fear and Greek Business Yews. I'm Sean Elmer

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Speaker 1: Joey Your evening