1 00:00:03,640 --> 00:00:06,200 Sean Aylmer: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,240 --> 00:00:08,720 Sean Aylmer: for Monday, the seventh of April twenty twenty five. I'm 3 00:00:08,760 --> 00:00:11,600 Sean Aylmer: Sean Almer. Every afternoon, we've got the fire stories that 4 00:00:11,720 --> 00:00:14,080 Sean Aylmer: happened today that you need to know about. Storing Number 5 00:00:14,120 --> 00:00:17,880 Sean Aylmer: one S and p ASX two hundred tumbled today, It's 6 00:00:17,880 --> 00:00:19,960 Sean Aylmer: the best way of putting it. Fell by more than 7 00:00:20,000 --> 00:00:22,520 Sean Aylmer: six percent in the morning session before closing down four 8 00:00:22,520 --> 00:00:26,280 Sean Aylmer: point two percent to seven three hundred and forty three points. 9 00:00:26,520 --> 00:00:29,240 Sean Aylmer: There was nowhere to hide with the energy companies leading 10 00:00:29,240 --> 00:00:32,879 Sean Aylmer: the market lower. In fact, all eleven sub indices finished 11 00:00:32,880 --> 00:00:36,600 Sean Aylmer: in the red come off. Bank BHP, Woodside, Aristocrat, Leisure, 12 00:00:36,680 --> 00:00:40,520 Sean Aylmer: QBE all were down around six percent or more. CSL, 13 00:00:40,840 --> 00:00:43,479 Sean Aylmer: the other three big banks, West Farmers, Goodman Group Computer 14 00:00:43,560 --> 00:00:46,639 Sean Aylmer: Share all off more than four percent. The consumer staples 15 00:00:46,640 --> 00:00:49,360 Sean Aylmer: will is in Cohles did best, so to did Tulstra 16 00:00:49,760 --> 00:00:53,840 Sean Aylmer: and the infrastructure companies, but really quite the day on 17 00:00:53,880 --> 00:00:56,480 Sean Aylmer: the market, all on the back of the uncertainty around 18 00:00:56,520 --> 00:00:59,800 Sean Aylmer: Donald Trump's tariffs. Story. Number two Energy Giant Woodside will 19 00:00:59,800 --> 00:01:03,240 Sean Aylmer: sell forty percent of its interest in its Louisiana LNG 20 00:01:03,400 --> 00:01:06,760 Sean Aylmer: infrastructure project to a US investment Group for five point 21 00:01:06,920 --> 00:01:10,520 Sean Aylmer: seven billion US dollars. The money from stone Peak will 22 00:01:10,560 --> 00:01:12,520 Sean Aylmer: be used to fund the capital cost of the project, 23 00:01:12,840 --> 00:01:15,920 Sean Aylmer: and Woodside's looking at offloading more of the venture. Woodside 24 00:01:15,920 --> 00:01:19,839 Sean Aylmer: purchased Louisiana LLNG last year and ultimately the Australian company 25 00:01:19,840 --> 00:01:22,160 Sean Aylmer: wants to keep about fifty percent of it. The first 26 00:01:22,200 --> 00:01:26,679 Sean Aylmer: proposed stage of the LNG project is expected to cost 27 00:01:26,920 --> 00:01:31,240 Sean Aylmer: that fifteen to sixteen billion US dollar amount, so Woodside 28 00:01:31,319 --> 00:01:34,800 Sean Aylmer: needs some friends to help pony up the money. Story 29 00:01:34,880 --> 00:01:38,040 Sean Aylmer: number three. James Hardy chair Ann Lloyd met major institutional 30 00:01:38,080 --> 00:01:41,520 Sean Aylmer: investors today to discuss a growing backlash of a Hardy's 31 00:01:41,600 --> 00:01:44,440 Sean Aylmer: deal to merge with US based AZEC and the fact 32 00:01:44,440 --> 00:01:46,800 Sean Aylmer: that local shareholders won't get to vote on the deal. 33 00:01:47,120 --> 00:01:49,320 Sean Aylmer: The company's board and management sort of waiver from the 34 00:01:49,320 --> 00:01:53,160 Sean Aylmer: Australian Securities Exchange that cut out local shareholders from voting 35 00:01:53,160 --> 00:01:56,160 Sean Aylmer: on the deal, even though their cash and script is 36 00:01:56,200 --> 00:01:58,640 Sean Aylmer: being used to fund it. Many investors have declared the 37 00:01:58,680 --> 00:02:03,040 Sean Aylmer: AASEC deal value destructive. James hard It's Australian shares dropped 38 00:02:03,120 --> 00:02:04,960 Sean Aylmer: twelve and a half percent on the day it revealed 39 00:02:04,960 --> 00:02:07,880 Sean Aylmer: the deal, and more than five billion dollars has since 40 00:02:07,920 --> 00:02:10,600 Sean Aylmer: been stripped from the company's market value. James hard is 41 00:02:10,600 --> 00:02:13,120 Sean Aylmer: issuing thirty five percent more shares to help fund the 42 00:02:13,240 --> 00:02:15,800 Sean Aylmer: fourteen billion dollar merger with AASEEK, which is an outdoor 43 00:02:15,840 --> 00:02:18,760 Sean Aylmer: decking and furniture group. All Australian investors won't get devota 44 00:02:18,840 --> 00:02:23,799 Sean Aylmer: the merger, AASEC shareholders will Australia Number four, the superannuation regulator, 45 00:02:23,840 --> 00:02:26,640 Sean Aylmer: has forced the big funds into disclosing whether they've been 46 00:02:26,680 --> 00:02:30,480 Sean Aylmer: affected by a coordinated cyber attack. Late last week, the 47 00:02:30,480 --> 00:02:34,320 Sean Aylmer: Australian Financial Regulation Authority gave the funds until midday to 48 00:02:34,440 --> 00:02:37,959 Sean Aylmer: day to say whether they've been breached. According to fin Review, 49 00:02:38,240 --> 00:02:41,639 Sean Aylmer: hackers break into accounts that Australian Super and Australian Retirement Trust. 50 00:02:41,800 --> 00:02:45,800 Sean Aylmer: The two biggest funds, rest Host and the MLC expand 51 00:02:45,800 --> 00:02:50,520 Sean Aylmer: platform run by ASX listed Insignia Financial, were also hit. 52 00:02:50,919 --> 00:02:54,840 Sean Aylmer: APPA also told affected funds to provide it with rectification 53 00:02:55,120 --> 00:02:58,000 Sean Aylmer: plans to refund customers who lost money during the breach. 54 00:02:58,240 --> 00:03:00,000 Sean Aylmer: Ozzie Souper is the only fund to report the money 55 00:03:00,000 --> 00:03:02,880 Sean Aylmer: who was stolen, with four members losing around five hundred 56 00:03:02,880 --> 00:03:05,480 Sean Aylmer: thousand dollars, and Story number five. There are a couple 57 00:03:05,520 --> 00:03:07,600 Sean Aylmer: of them in a deals or at least proposed deals 58 00:03:07,639 --> 00:03:10,520 Sean Aylmer: announced today, both at the smaller end of the market. 59 00:03:10,760 --> 00:03:14,840 Sean Aylmer: Apicus Storage King rarely twenty one percent after its majority 60 00:03:14,880 --> 00:03:18,600 Sean Aylmer: investor Kai Corporation in New York Stock Exchange listed Public 61 00:03:18,639 --> 00:03:21,360 Sean Aylmer: Storage lobbed a proposal to buy the remaining stake of 62 00:03:21,400 --> 00:03:24,880 Sean Aylmer: the company and Challenger per cent after it announced Life 63 00:03:24,880 --> 00:03:28,720 Sean Aylmer: in suor Tel died. Each Life would acquire a fifteen 64 00:03:28,760 --> 00:03:30,959 Sean Aylmer: point one percent interest, and a Challenger already has a 65 00:03:31,000 --> 00:03:34,480 Sean Aylmer: sales relationship in Japan with Echi Life. That's it for 66 00:03:34,520 --> 00:03:37,000 Sean Aylmer: the afternoon report for Monday, the seventh of April twenty 67 00:03:37,000 --> 00:03:39,200 Sean Aylmer: twenty five. Make sure you hit follow on the podcast. 68 00:03:39,480 --> 00:03:41,640 Sean Aylmer: We'll be back tomorrow morning with the Tuesday edition. A 69 00:03:41,720 --> 00:03:44,680 Sean Aylmer: Fear and great business News. I'm Sean Elmer, m Joey 70 00:03:44,760 --> 00:03:45,080 Sean Aylmer: Reavening