1 00:00:04,160 --> 00:00:06,480 Speaker 1: Welcome to the Fear and Greed Business News. The Afternoon 2 00:00:06,519 --> 00:00:09,360 Speaker 1: Report for Wednesday, the twenty sixth of February twenty twenty five. 3 00:00:09,400 --> 00:00:12,559 Speaker 1: I'm sure, alma, every afternoon, we've got the five stories 4 00:00:12,560 --> 00:00:14,440 Speaker 1: that happened today that you need to know about. Storry 5 00:00:14,520 --> 00:00:17,400 Speaker 1: number one, the SMPA six two hundred finished down just 6 00:00:17,440 --> 00:00:20,239 Speaker 1: to touch today to eighty two hundred and forty one points. 7 00:00:20,520 --> 00:00:23,320 Speaker 1: Plenty of half year profit results pouring in with earning 8 00:00:23,440 --> 00:00:28,040 Speaker 1: season ending on Friday. Some of the highlights today. Woolli's 9 00:00:28,120 --> 00:00:32,640 Speaker 1: reported a net profit down twenty percent last half. That's 10 00:00:32,720 --> 00:00:35,080 Speaker 1: after its supermarket lost two hundred and forty million dollars 11 00:00:35,080 --> 00:00:37,520 Speaker 1: in sales following three weeks of strikes at the serp 12 00:00:37,600 --> 00:00:41,640 Speaker 1: market's distribution center ahead of Christmas, and Center Group said 13 00:00:41,680 --> 00:00:44,680 Speaker 1: funds from operations was one point one billion dollars. That's 14 00:00:44,800 --> 00:00:47,920 Speaker 1: the measured in the property among the property crowd. That 15 00:00:48,040 --> 00:00:50,879 Speaker 1: was lower than expectations, and its share price finished down 16 00:00:50,920 --> 00:00:53,880 Speaker 1: more than three percent. Story number two opposition lader Peter 17 00:00:53,960 --> 00:00:57,520 Speaker 1: Dunton has been forced to defend purchases of bank stocks 18 00:00:57,560 --> 00:01:01,680 Speaker 1: sixteen or seventeen years ago, days before the federal government 19 00:01:01,960 --> 00:01:04,920 Speaker 1: announced a bailout package for the sector after the global 20 00:01:04,920 --> 00:01:09,040 Speaker 1: financial crisis. Two issues are being reported by the media. 21 00:01:09,120 --> 00:01:12,160 Speaker 1: The first one mister Dutton bought shares allegedly in major 22 00:01:12,200 --> 00:01:14,679 Speaker 1: banks during record lows and the lead up to the 23 00:01:14,800 --> 00:01:18,800 Speaker 1: large government stimulus package during the GFC. And two, mister 24 00:01:18,880 --> 00:01:23,360 Speaker 1: Dutton allegedly failed to declare to Parliament to property transactions. 25 00:01:23,680 --> 00:01:26,400 Speaker 1: Mister Dutton himself today said he only ever acted with 26 00:01:26,440 --> 00:01:30,440 Speaker 1: integrity and declared he has no hidden assets. But a 27 00:01:30,440 --> 00:01:33,080 Speaker 1: bit like Anthony Albanezi buying a home on the central 28 00:01:33,080 --> 00:01:36,199 Speaker 1: coast in New South Wales last year, it just doesn't 29 00:01:36,240 --> 00:01:39,480 Speaker 1: look that good story. Number three cost of living pressures 30 00:01:39,520 --> 00:01:41,760 Speaker 1: have hit the travel sector, with both flight Center and 31 00:01:41,840 --> 00:01:46,280 Speaker 1: Hollow World reporting disappointing earnings. Flight Center said the average 32 00:01:46,280 --> 00:01:49,520 Speaker 1: Australian international fair decreased by six and a half percent 33 00:01:49,840 --> 00:01:51,920 Speaker 1: in the December half of the pre tax profit was 34 00:01:51,960 --> 00:01:54,880 Speaker 1: up seven percent. It was below expectations and its share 35 00:01:54,920 --> 00:01:58,240 Speaker 1: price fell ten percent. Today, Hello World share price fell 36 00:01:58,320 --> 00:02:02,200 Speaker 1: nineteen percent after its profit dropped by thirty two percent 37 00:02:02,280 --> 00:02:05,080 Speaker 1: on the back of lower transaction volumes. Sorry. Number four 38 00:02:05,120 --> 00:02:07,960 Speaker 1: Global engineering group Walley will start a five hundred million 39 00:02:07,960 --> 00:02:10,720 Speaker 1: dollars share buy back after delivering a seventy two percent 40 00:02:10,800 --> 00:02:14,160 Speaker 1: jump in interim profit, its share price jumped ten percent. 41 00:02:14,520 --> 00:02:17,920 Speaker 1: Linus rare earths net profit collapsed eighty five percent. Now 42 00:02:17,960 --> 00:02:21,200 Speaker 1: Linus is the biggest producer of rare earths outside China, 43 00:02:21,280 --> 00:02:25,240 Speaker 1: but Chinese production has ramped up as a result prices alone, 44 00:02:25,240 --> 00:02:29,400 Speaker 1: and that's really hit Linus. Kelcian Group shared fifteen percent 45 00:02:29,440 --> 00:02:31,800 Speaker 1: worse the top two hundred, a day after the shipbuilding 46 00:02:31,840 --> 00:02:35,160 Speaker 1: group posted an eight percent fall in profit, and finally, 47 00:02:35,200 --> 00:02:38,840 Speaker 1: online fashion retailer Setaire report an eleven cent increase in revenues, 48 00:02:39,080 --> 00:02:42,120 Speaker 1: though its profit was sharply lower. Its share price finished 49 00:02:42,120 --> 00:02:46,320 Speaker 1: down six percent, and story number five. Kiev has agreed 50 00:02:46,600 --> 00:02:50,519 Speaker 1: terms with Washington on a mineral's deal that Ukrainian officials 51 00:02:50,520 --> 00:02:53,680 Speaker 1: hope will improve relations with the Trump administration and paved 52 00:02:53,680 --> 00:02:56,840 Speaker 1: the way for a long term US security commitment. Ukrainian 53 00:02:56,840 --> 00:02:59,800 Speaker 1: officials said Kiev is now ready to sign the agreement 54 00:02:59,840 --> 00:03:03,519 Speaker 1: on jointly developing its mineral resources, including oil and gas, 55 00:03:03,840 --> 00:03:06,320 Speaker 1: after the US dropped demands for a right to half 56 00:03:06,360 --> 00:03:09,480 Speaker 1: a trillion dollars in potential revenue from exploiting the resources. 57 00:03:09,760 --> 00:03:14,080 Speaker 1: Although the text lacks explicit security guarantees. The official they 58 00:03:14,360 --> 00:03:17,280 Speaker 1: they have negotiated far more favorable terms than depicted. The 59 00:03:17,320 --> 00:03:19,920 Speaker 1: deal as a way of broadening the relationship with the 60 00:03:20,040 --> 00:03:23,160 Speaker 1: US to shure up Ukraine's prospects after three years of war. 61 00:03:23,240 --> 00:03:26,800 Speaker 1: According to report in The Financial Times, Ukrainian President Vladime 62 00:03:26,919 --> 00:03:29,239 Speaker 1: Zelenski is planning to travel to Washington later in the 63 00:03:29,280 --> 00:03:32,400 Speaker 1: week to visit US President Donald Trump and formalize the deal. 64 00:03:33,040 --> 00:03:35,240 Speaker 1: As it for the Afternoon Report for Wednesday, the twenty 65 00:03:35,240 --> 00:03:37,240 Speaker 1: sixth of February twenty twenty five, make sure you hit 66 00:03:37,240 --> 00:03:39,600 Speaker 1: follow on the podcast. We'll be back tomorrow morning with 67 00:03:39,720 --> 00:03:42,200 Speaker 1: a Thursday edition of the past five Business Yews five 68 00:03:42,280 --> 00:03:44,920 Speaker 1: Fear and Greed. I'm Sean Elmer. Enjoy your evening.