1 00:00:04,160 --> 00:00:07,120 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,200 --> 00:00:09,880 Speaker 1: for Wednesday, the twenty seventh of August twenty twenty five. 3 00:00:10,039 --> 00:00:12,600 Speaker 1: Are Michael Thompson. Every afternoon, We've got the five stories 4 00:00:12,640 --> 00:00:14,840 Speaker 1: that happened today that you need to know about. There's 5 00:00:14,880 --> 00:00:17,680 Speaker 1: been plenty on today, so let's get going. Story number one. 6 00:00:17,800 --> 00:00:20,400 Speaker 1: The S and PAS X two hundred climbed zero point 7 00:00:20,480 --> 00:00:23,400 Speaker 1: three percent today to eight thousand, nine hundred and sixty 8 00:00:23,400 --> 00:00:27,360 Speaker 1: one points, riding a wave of company results, but an 9 00:00:27,480 --> 00:00:31,440 Speaker 1: unexpected jump in the monthly inflation data saw traders reassess 10 00:00:31,560 --> 00:00:35,320 Speaker 1: expectations of a rate cut in September, expecting to see 11 00:00:35,360 --> 00:00:39,159 Speaker 1: a cut in November instead. That had an impact on 12 00:00:39,280 --> 00:00:40,960 Speaker 1: market today. It was a big day as well for 13 00:00:41,000 --> 00:00:44,880 Speaker 1: the lithium miners Liontown Resources up nine and a half percent, 14 00:00:45,000 --> 00:00:49,239 Speaker 1: PLS formally Pilbrim Minerals up almost nine percent after UBS 15 00:00:49,320 --> 00:00:53,800 Speaker 1: upgraded expectations on lithium prices. But wow, what a day 16 00:00:53,840 --> 00:00:56,959 Speaker 1: for company results headlined by really It's a bit hard 17 00:00:57,000 --> 00:00:59,800 Speaker 1: to pick the headline there were so many big results. Woolworths' 18 00:01:00,240 --> 00:01:04,440 Speaker 1: price plummeted nearly fifteen percent, with investors worried about the 19 00:01:04,480 --> 00:01:07,120 Speaker 1: outlook and a big drop in profit. Wise, Tech Global 20 00:01:07,240 --> 00:01:11,520 Speaker 1: missed expectations. It fell twelve percent. Domino's Pizza dropped a 21 00:01:11,520 --> 00:01:14,360 Speaker 1: whopping twenty two percent. It's had a bad start to 22 00:01:14,400 --> 00:01:18,280 Speaker 1: the new financial year. Better news though, for Tabcorp, soaring 23 00:01:18,520 --> 00:01:22,480 Speaker 1: nearly twenty four percent today at share price through the 24 00:01:22,600 --> 00:01:25,480 Speaker 1: roof after cutting costs and reporting a profit. We will 25 00:01:25,480 --> 00:01:28,760 Speaker 1: have more intomorrow morning show and an update on Flight 26 00:01:28,800 --> 00:01:30,640 Speaker 1: Center as well, in a moment, which was one of 27 00:01:30,640 --> 00:01:34,319 Speaker 1: the interesting results today. Story number two. Federal Liberal minister 28 00:01:34,400 --> 00:01:37,280 Speaker 1: Linda Reynolds has been awarded more than three hundred thousand 29 00:01:37,280 --> 00:01:40,880 Speaker 1: dollars in damages in her defamation case against ex staff 30 00:01:40,880 --> 00:01:44,720 Speaker 1: for Brittany Higgins. The WA Supreme Court found two social 31 00:01:44,760 --> 00:01:48,200 Speaker 1: media posts defamed Reynolds. There was a twenty twenty two 32 00:01:48,320 --> 00:01:51,760 Speaker 1: tweet and a twenty twenty three Instagram story and breached 33 00:01:51,800 --> 00:01:55,200 Speaker 1: a non disparagement agreement, But the judge did reject Reynolds's 34 00:01:55,280 --> 00:01:58,880 Speaker 1: broader conspiracy claims and upheld higgins defense over a third post. 35 00:01:59,400 --> 00:02:03,160 Speaker 1: Reynolds said her reputation has finally been restored after what 36 00:02:03,240 --> 00:02:06,559 Speaker 1: she called a quote despicable lie that wrecked her career 37 00:02:06,880 --> 00:02:09,160 Speaker 1: in a statement to Britney, Higgins said she was grateful 38 00:02:09,200 --> 00:02:11,800 Speaker 1: the case was over. She offered an apology for hurt 39 00:02:11,880 --> 00:02:14,520 Speaker 1: caused and said she now hoped to rebuild her life. 40 00:02:14,840 --> 00:02:18,160 Speaker 1: Story number three. Tough times are continuing for Flight Center. 41 00:02:18,200 --> 00:02:21,000 Speaker 1: As I mentioned earlier, Boss Graham Turner today warning that 42 00:02:21,040 --> 00:02:24,640 Speaker 1: turbulence in the global travel market is weighing heavily on bookings. 43 00:02:24,960 --> 00:02:27,519 Speaker 1: Flare ups in the Middle East and weaker US demand 44 00:02:27,600 --> 00:02:30,440 Speaker 1: of both hit the company's annual profit, which slips nearly 45 00:02:30,480 --> 00:02:33,360 Speaker 1: ten percent. Some of the problems identified by the company 46 00:02:33,400 --> 00:02:38,480 Speaker 1: include the Katari airspace being closed during the Israel Iran strikes, 47 00:02:38,680 --> 00:02:41,400 Speaker 1: an eleven percent downturn in travel to the US, and 48 00:02:41,440 --> 00:02:45,160 Speaker 1: the June quarter. But Graham Turner does insist that history 49 00:02:45,200 --> 00:02:48,880 Speaker 1: shows travel demand eventually bounces back, and he says they're 50 00:02:48,880 --> 00:02:52,280 Speaker 1: already starting to see signs of stabilization. Flight Center's share 51 00:02:52,280 --> 00:02:55,919 Speaker 1: price closed more than four percent lower today. Story number four. 52 00:02:56,040 --> 00:02:59,240 Speaker 1: After a series of false starts and disasters, finally a 53 00:02:59,240 --> 00:03:02,720 Speaker 1: bit of good news for Elon Musk's SpaceX. A scheduled 54 00:03:02,800 --> 00:03:05,160 Speaker 1: launch on Sunday was called off because of a liquid 55 00:03:05,200 --> 00:03:10,280 Speaker 1: oxygen leak, then weather scrubbed Monday's attempt, but earlier today, 56 00:03:10,520 --> 00:03:13,239 Speaker 1: the four hundred and three foot rocket, This thing is 57 00:03:13,240 --> 00:03:16,720 Speaker 1: a monster, lifted off from South Texas, flew into space, 58 00:03:16,960 --> 00:03:20,520 Speaker 1: deployed a whole bunch of dummy Starlink satellites, re entered 59 00:03:20,520 --> 00:03:24,200 Speaker 1: the atmosphere before splashing down successfully in the Indian Ocean. 60 00:03:24,520 --> 00:03:27,840 Speaker 1: It was a major stress test for the Starship spacecraft, 61 00:03:28,120 --> 00:03:30,960 Speaker 1: and it comes after a series of explosions and mishaps, 62 00:03:31,120 --> 00:03:33,280 Speaker 1: a lot of pressure on this Elon Musk wants to 63 00:03:33,320 --> 00:03:37,680 Speaker 1: launch an uncrued version of the vehicle to Mars next year. 64 00:03:38,000 --> 00:03:40,000 Speaker 1: He's already said though that that meeting that goal is 65 00:03:40,040 --> 00:03:42,280 Speaker 1: going to be tough. He's also supposed to have a 66 00:03:42,400 --> 00:03:44,840 Speaker 1: version of the ship ready for twenty twenty seven to 67 00:03:45,000 --> 00:03:47,960 Speaker 1: land astronauts on the Moon. That one is in partnership 68 00:03:48,000 --> 00:03:52,000 Speaker 1: with NASA. And finally, story number five. US President Donald 69 00:03:52,000 --> 00:03:54,800 Speaker 1: Trump has weighed in on one of America's most high 70 00:03:54,800 --> 00:03:59,720 Speaker 1: profile celebrity romances, wishing pop star Taylor Swift and NFL 71 00:03:59,760 --> 00:04:03,800 Speaker 1: player Travis Kelsey good luck on their engagement. Asked for 72 00:04:03,840 --> 00:04:06,600 Speaker 1: his reaction during a cabinet meeting, is, of course, why 73 00:04:06,640 --> 00:04:10,160 Speaker 1: wouldn't he be, the President said, well, I wish them 74 00:04:10,200 --> 00:04:12,160 Speaker 1: a lot of luck. I think he's a great player, 75 00:04:12,280 --> 00:04:15,240 Speaker 1: a great guy. I think she's a terrific person. It's 76 00:04:15,280 --> 00:04:19,159 Speaker 1: a slightly warmer note than his usual comments about Taylor Swift, 77 00:04:19,160 --> 00:04:21,640 Speaker 1: who he's repeatedly criticized in the past. In fact, just 78 00:04:21,720 --> 00:04:25,000 Speaker 1: last year, he declared I hate Taylor Swift after she 79 00:04:25,120 --> 00:04:29,479 Speaker 1: endorsed the Democratic nominee following his debate with Kamala Harris. Earlier, 80 00:04:29,520 --> 00:04:32,400 Speaker 1: he had praised Kelsey as a great player, but joke 81 00:04:32,480 --> 00:04:34,840 Speaker 1: that the Chief Star was probably a liberal and can't 82 00:04:34,880 --> 00:04:38,200 Speaker 1: stand me. That's it for the Afternoon Report for Wednesday, 83 00:04:38,240 --> 00:04:40,960 Speaker 1: the twenty seventh of August twenty twenty five. Make sure 84 00:04:40,960 --> 00:04:42,880 Speaker 1: you hit follow on the podcast and we'll be back 85 00:04:42,880 --> 00:04:45,760 Speaker 1: tomorrow morning with the Thursday edition of the Fast five 86 00:04:45,800 --> 00:04:48,840 Speaker 1: Business News by Fear and Greed. I'm Michael Thompson. Enjoy 87 00:04:48,880 --> 00:04:49,360 Speaker 1: your evening.