1 00:00:03,600 --> 00:00:06,080 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,120 --> 00:00:09,240 Speaker 1: for Tuesday, the thirteenth of May twenty twenty five. I'm sure, alma, 3 00:00:09,400 --> 00:00:11,799 Speaker 1: every afternoon we've got the five stories that happened today 4 00:00:11,800 --> 00:00:13,840 Speaker 1: that you need to know about. Story number one. The 5 00:00:13,840 --> 00:00:17,360 Speaker 1: local share market closed up almost half percent today. It's 6 00:00:17,520 --> 00:00:20,360 Speaker 1: two hundred and sixty nine points. Tech and energy stocks 7 00:00:20,440 --> 00:00:22,840 Speaker 1: led the way. Now the tech sector mirrored the jump 8 00:00:22,840 --> 00:00:25,600 Speaker 1: in the US. The price of Brent oil pushed above 9 00:00:25,600 --> 00:00:27,479 Speaker 1: sixty four US dollars a barrel, and that helped the 10 00:00:27,560 --> 00:00:31,720 Speaker 1: energy companies places like Woodside and Santos. Gold prices will lower, 11 00:00:31,800 --> 00:00:35,879 Speaker 1: so gold stock share prices tended to fall, and pharmaceutical 12 00:00:35,920 --> 00:00:40,360 Speaker 1: companies like Clarity rebounded after being sold off yesterday following 13 00:00:40,400 --> 00:00:44,000 Speaker 1: concerns about a cut to US prescription prices. Sorry. Number two. 14 00:00:44,200 --> 00:00:48,480 Speaker 1: Business confidence remains weak in Australia, with little improvement last month. 15 00:00:48,720 --> 00:00:52,360 Speaker 1: The National Australia Bank Business Confidence Survey for April shows 16 00:00:52,440 --> 00:00:56,360 Speaker 1: a one point increase, though it's still negative at minus one. 17 00:00:56,840 --> 00:01:01,360 Speaker 1: Business conditions deteriorated to their lowest level since August twenty 18 00:01:01,400 --> 00:01:04,160 Speaker 1: So first one was confidence, the second one is business 19 00:01:04,160 --> 00:01:08,000 Speaker 1: conditions worst since August twenty twenty that was driven by 20 00:01:08,000 --> 00:01:11,240 Speaker 1: de clients in profitability and forward orders. Business confidence is 21 00:01:11,280 --> 00:01:14,680 Speaker 1: weakest in retail and wholesale trades, suggesting that businesses are 22 00:01:14,680 --> 00:01:18,800 Speaker 1: feeling the impact from a still sluggish consumer sector. On that, 23 00:01:19,400 --> 00:01:24,000 Speaker 1: the Westpac Melbourne Institute Survey of consumer Sentiment shows ongoing 24 00:01:24,240 --> 00:01:28,280 Speaker 1: sluggish sentiment among consumers. More reasons for a ray cut, 25 00:01:28,360 --> 00:01:31,800 Speaker 1: I say sorry. Number three family tracking app Business Life 26 00:01:31,880 --> 00:01:34,920 Speaker 1: three sixty, which we've spoken a bit about, says it 27 00:01:35,000 --> 00:01:39,600 Speaker 1: generated record revenue as its numbers of subscribers jumped during 28 00:01:39,600 --> 00:01:43,160 Speaker 1: the March quarter. The ASX listed San Francisco based companies 29 00:01:43,240 --> 00:01:45,319 Speaker 1: revenue raised by one third in the three months to 30 00:01:45,360 --> 00:01:48,680 Speaker 1: March thirty one, beating expectations that send its share price 31 00:01:48,720 --> 00:01:51,640 Speaker 1: up fourteen percent. Today. Chief executive Chris Hole said the 32 00:01:51,640 --> 00:01:55,360 Speaker 1: results show that location sharing and keeping tabs on family 33 00:01:55,400 --> 00:01:58,720 Speaker 1: members has entered the mainstream, which the four billion dollar 34 00:01:58,760 --> 00:02:01,640 Speaker 1: company has long forecar According to a report in The Australian. 35 00:02:02,040 --> 00:02:05,640 Speaker 1: The burst comes as four point one million new monthly 36 00:02:05,720 --> 00:02:09,680 Speaker 1: active users were added to the company's location sharing platform 37 00:02:10,000 --> 00:02:13,240 Speaker 1: Storry Number four. In other corporate news today, ampol share 38 00:02:13,240 --> 00:02:16,519 Speaker 1: price rose after announcing the sale of its retail electricity 39 00:02:16,520 --> 00:02:20,120 Speaker 1: business in New Zealand to Meridian Energy and in Australia 40 00:02:20,240 --> 00:02:24,840 Speaker 1: to AGL. Both Meridian and AGL ended lower and Abacus 41 00:02:24,960 --> 00:02:28,320 Speaker 1: Storage King rose after rejecting a bid from Public Storage 42 00:02:28,320 --> 00:02:32,680 Speaker 1: and Key Corporation to acquire outstanding shares. That's after an 43 00:02:32,680 --> 00:02:35,520 Speaker 1: independent committee judged the one dollar forty seven a share 44 00:02:35,600 --> 00:02:40,200 Speaker 1: offer from Public Storage and Key undervalued and finally, story 45 00:02:40,280 --> 00:02:42,919 Speaker 1: number five, US President Donald Trump said he's open to 46 00:02:43,000 --> 00:02:46,160 Speaker 1: joining talks between Russia and Ukraine in Turkey this week, 47 00:02:46,440 --> 00:02:49,760 Speaker 1: a suggestion that was quickly welcomed by Kiev as the 48 00:02:49,840 --> 00:02:53,000 Speaker 1: right idea. International efforts to end the war have picked 49 00:02:53,080 --> 00:02:55,680 Speaker 1: up over the past seven days or so. Mister Trump 50 00:02:55,720 --> 00:02:57,960 Speaker 1: will be visiting the Golf this week on an official 51 00:02:58,000 --> 00:03:01,960 Speaker 1: trip to Saudi Arabia, added Arab Emirates and Qatar, and 52 00:03:02,000 --> 00:03:04,480 Speaker 1: said he could make a detour to Turkey to take 53 00:03:04,520 --> 00:03:07,359 Speaker 1: part and plan talks between the two warring parties. According 54 00:03:07,360 --> 00:03:10,040 Speaker 1: to the Financial Times, I will quote mister Trump here, 55 00:03:10,280 --> 00:03:12,120 Speaker 1: I don't know where I'm going to be on Thursday. 56 00:03:12,160 --> 00:03:14,160 Speaker 1: I've got so many meetings, but I was thinking about 57 00:03:14,200 --> 00:03:17,240 Speaker 1: actually flying over there as it for the afternoon report 58 00:03:17,280 --> 00:03:19,760 Speaker 1: for Tuesday, the thirteenth of May twenty twenty five. Make 59 00:03:19,760 --> 00:03:21,720 Speaker 1: sure you hit follow on the podcast. We will be 60 00:03:21,720 --> 00:03:23,959 Speaker 1: back tomorrow morning with the Wednesday edition of Fear and 61 00:03:24,000 --> 00:03:27,000 Speaker 1: Greed Business News. I'm Sean Elma. Enjoy your evening.