1
00:00:03,840 --> 00:00:07,080
Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Monday,

2
00:00:07,120 --> 00:00:10,000
Speaker 1: the twenty sixth of August twenty twenty four. I'm Sean Alma.

3
00:00:10,400 --> 00:00:12,920
Speaker 1: Every afternoon, We've got the five stories that happened today

4
00:00:12,960 --> 00:00:14,640
Speaker 1: that you need to know about. Story number one. The

5
00:00:14,760 --> 00:00:17,200
Speaker 1: S and PA six two hundred closed up a zero

6
00:00:17,200 --> 00:00:19,400
Speaker 1: point eight percent today. There were eight thousand and eighty

7
00:00:19,400 --> 00:00:22,279
Speaker 1: five points. Their eyes followed a strong leading from Wall

8
00:00:22,280 --> 00:00:25,600
Speaker 1: Street over the weekend, with the Telco, Energy, Financials, and

9
00:00:25,720 --> 00:00:30,080
Speaker 1: Consumer discretionary indices among the best performers. Consumer Stables was

10
00:00:30,120 --> 00:00:34,159
Speaker 1: the worst performing subindex. The Big four banks all jumped sharply,

11
00:00:34,280 --> 00:00:38,640
Speaker 1: so to the Uranium stocks, Woodside four to Skew, Aristocrat, Leisure,

12
00:00:38,680 --> 00:00:42,479
Speaker 1: Aria and West Farmers outperformed. James Hardy jumped five percent.

13
00:00:42,800 --> 00:00:46,880
Speaker 1: Underperformers included CSL Goodman Group, Telstra, Willis Weiss, Tech Global,

14
00:00:46,960 --> 00:00:51,320
Speaker 1: and Rio Tinto. Plenty of profit results out today. Ossi

15
00:00:51,400 --> 00:00:54,240
Speaker 1: Broadband will pay its first dividend after it connected more

16
00:00:54,240 --> 00:00:57,000
Speaker 1: customers to the Internet and net profit jump by twenty

17
00:00:57,000 --> 00:01:00,200
Speaker 1: one percent, but it is cutting jobs to save money.

18
00:01:00,360 --> 00:01:03,280
Speaker 1: Ozzie's share of the national broadband market rose to seven

19
00:01:03,280 --> 00:01:06,160
Speaker 1: point four percent. From six point six percent in the

20
00:01:06,200 --> 00:01:08,600
Speaker 1: twelve months to the end of June, helped by its

21
00:01:08,600 --> 00:01:13,240
Speaker 1: acquisition of Unity's Internet's broadband subscribers. Its enterprise division that

22
00:01:13,319 --> 00:01:16,480
Speaker 1: offers services to government and big business, also made up ground.

23
00:01:16,560 --> 00:01:19,520
Speaker 1: Its share price jumped to twelve percent Today. Online beauty

24
00:01:19,520 --> 00:01:22,880
Speaker 1: retailer Door Beauty swung back to profit last financial here

25
00:01:23,160 --> 00:01:25,200
Speaker 1: and said sales in the first seven weeks of the

26
00:01:25,240 --> 00:01:28,120
Speaker 1: new year are up seven percent, though it did warn

27
00:01:28,160 --> 00:01:31,520
Speaker 1: that conditions will remain challenging. Its share price rose five percent.

28
00:01:31,800 --> 00:01:35,559
Speaker 1: A couple of announcements were very poorly received. Kelseyn Group

29
00:01:35,600 --> 00:01:39,320
Speaker 1: and IB Holdings were the two worst performers Ferry and

30
00:01:39,360 --> 00:01:42,039
Speaker 1: Transport Group to Keltian, so the company needed a one

31
00:01:42,160 --> 00:01:44,959
Speaker 1: hundred and eighty five million dollar reinvestment this financial year

32
00:01:45,200 --> 00:01:47,760
Speaker 1: that sent its share price down twenty four percent. Private

33
00:01:47,760 --> 00:01:51,440
Speaker 1: Health Insurance and IB Holding slumped seventeen percent after apporting

34
00:01:51,480 --> 00:01:54,680
Speaker 1: a sixty seven percent increase in full year NEIT profit. However,

35
00:01:55,240 --> 00:01:58,520
Speaker 1: that result was well below expectations. Story number two. The

36
00:01:58,520 --> 00:02:01,880
Speaker 1: Prime Minister and Pacific Minister Pat Conroy are heading to

37
00:02:01,880 --> 00:02:05,440
Speaker 1: Tonga tomorrow to attend the Pacific Island's Forum Leaders meeting.

38
00:02:05,840 --> 00:02:09,560
Speaker 1: The meeting focuses on the region's collective prosperity and security.

39
00:02:09,720 --> 00:02:13,119
Speaker 1: Misster Albanezi said climate change remains the single greatest threat

40
00:02:13,200 --> 00:02:17,360
Speaker 1: to the livelihood's security and will being off Pacific Island communities. Meanwhile,

41
00:02:17,400 --> 00:02:19,760
Speaker 1: Government Front Bench of Murray Watt said the government is

42
00:02:19,880 --> 00:02:23,000
Speaker 1: very concerned about the escalating hostilities in the Middle East

43
00:02:23,320 --> 00:02:27,160
Speaker 1: following Israel and hasblar attacking each other. Senator What said

44
00:02:27,200 --> 00:02:30,240
Speaker 1: that the advice is Australians who are in Lebanon should

45
00:02:30,280 --> 00:02:33,440
Speaker 1: get out as quickly as they can. Story Number three

46
00:02:33,480 --> 00:02:35,680
Speaker 1: Bendi Go and Adelaide Bank has announced a five hundred

47
00:02:35,720 --> 00:02:39,120
Speaker 1: and sixty two million dollar cash profit topping analyst expectations

48
00:02:39,440 --> 00:02:43,040
Speaker 1: on the back of stabilizing arrears and rising customer numbers.

49
00:02:43,320 --> 00:02:46,240
Speaker 1: The number five retail bank produced a much better report

50
00:02:46,320 --> 00:02:49,360
Speaker 1: compared to the number six retail bank Bank of Queensland

51
00:02:49,760 --> 00:02:53,760
Speaker 1: last week. Bank of Queensland disappointed analysts. Chief executive of

52
00:02:53,840 --> 00:02:56,520
Speaker 1: Bendigomarni Baker, who is leaving the bank at the end

53
00:02:56,520 --> 00:02:59,640
Speaker 1: of this week, said the results demonstrate the strength capability

54
00:02:59,639 --> 00:03:04,399
Speaker 1: in differenterentiation of the organization. Benigo's net interest margin, effectively

55
00:03:04,400 --> 00:03:07,480
Speaker 1: its profit margin slipped slightly, though it was better at

56
00:03:07,520 --> 00:03:09,440
Speaker 1: the end of the financial year compared to the beginning.

57
00:03:09,720 --> 00:03:13,080
Speaker 1: The group's share price closed down one percent today straight

58
00:03:13,160 --> 00:03:15,240
Speaker 1: up before. The boss of Pilbra Minerals has warned that

59
00:03:15,280 --> 00:03:17,919
Speaker 1: the industry is getting even tougher and more companies will

60
00:03:17,960 --> 00:03:21,720
Speaker 1: close or Mothboar Mines Managing director Dale Henderson said lithium

61
00:03:21,760 --> 00:03:24,320
Speaker 1: prices had dropped another twenty two percent since the start

62
00:03:24,320 --> 00:03:27,400
Speaker 1: of this financial year, following a sixty seven percent four

63
00:03:27,480 --> 00:03:30,800
Speaker 1: last year, making it hard for all operators, particularly the

64
00:03:30,840 --> 00:03:34,160
Speaker 1: smaller players. Pilber reported an underlying net profit for the

65
00:03:34,240 --> 00:03:35,600
Speaker 1: year to the end of June of three hundred and

66
00:03:35,640 --> 00:03:38,600
Speaker 1: eighteen million dollars, down eighty six percent from last year.

67
00:03:38,880 --> 00:03:41,720
Speaker 1: That's all in the back of those lower lithium prices now.

68
00:03:41,760 --> 00:03:46,280
Speaker 1: The result was slightly below expectations. Lithium also announced a

69
00:03:46,280 --> 00:03:49,000
Speaker 1: new one billion dollar debt facility, which mister Henderson said

70
00:03:49,000 --> 00:03:52,440
Speaker 1: gave the company flexibility and balance sheet strength. He said

71
00:03:52,480 --> 00:03:56,000
Speaker 1: lithium was changing hands at a very difficult price point

72
00:03:56,200 --> 00:03:58,680
Speaker 1: for some producers, which will create a problem for the

73
00:03:58,720 --> 00:04:02,080
Speaker 1: high cost operations. Hilbrig's share price closed up one percent

74
00:04:02,440 --> 00:04:04,600
Speaker 1: and Story number five oil a fine on retail a.

75
00:04:04,680 --> 00:04:07,480
Speaker 1: Viva Energy reported at a ten percent jumping half here profit,

76
00:04:07,720 --> 00:04:10,880
Speaker 1: but cut its dividend payout. The group's refinery business, which

77
00:04:11,000 --> 00:04:13,200
Speaker 1: just a few years ago looked like it could shut down,

78
00:04:13,520 --> 00:04:17,000
Speaker 1: reported strong revenue growth, which helped offset a week performance

79
00:04:17,320 --> 00:04:20,600
Speaker 1: from Viva's petrol and convenience business, and Viva runs the

80
00:04:20,600 --> 00:04:24,000
Speaker 1: Shell and Liberty petrol stations. Chief executive Scott White said

81
00:04:24,040 --> 00:04:27,040
Speaker 1: cost of living pressures and the illegal tobacco trade are

82
00:04:27,080 --> 00:04:30,360
Speaker 1: having an impact on consumer demand within the convenience businesses,

83
00:04:30,760 --> 00:04:33,480
Speaker 1: just as wages and inflation are driving up the cost

84
00:04:33,480 --> 00:04:36,120
Speaker 1: of doing business. Viva's share price finished up a little

85
00:04:36,160 --> 00:04:38,640
Speaker 1: more than half percent today. That's it for the afternoon

86
00:04:38,640 --> 00:04:41,400
Speaker 1: report for Monday, the twenty sixth of August twenty twenty four.

87
00:04:41,760 --> 00:04:43,839
Speaker 1: Michael Thomas and I will be back tomorrow morning with

88
00:04:43,839 --> 00:04:46,640
Speaker 1: a Tuesday edition off Fear and Breed business news. I'm

89
00:04:46,640 --> 00:04:48,240
Speaker 1: Sean Elmer. Enjoy reading