1
00:00:03,760 --> 00:00:06,360
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:06,400 --> 00:00:08,719
Speaker 1: for Thursday, the twenty second of May twenty twenty five.

3
00:00:08,760 --> 00:00:11,200
Speaker 1: I'm sure in Alma every afternoon we've got the five

4
00:00:11,240 --> 00:00:13,120
Speaker 1: stories that have happened today that you need to know about.

5
00:00:13,119 --> 00:00:15,760
Speaker 1: Story numer one. The SMPASX two hundred a little bit

6
00:00:15,800 --> 00:00:18,640
Speaker 1: of a breathe today, ending down half percent to eight thousand,

7
00:00:18,720 --> 00:00:21,640
Speaker 1: three hundred and forty nine points. Tech stocks did best,

8
00:00:21,840 --> 00:00:24,800
Speaker 1: while energy companies weren't far behind. Some of the individual

9
00:00:24,840 --> 00:00:27,479
Speaker 1: best stocks were the gold miners. In terms of the

10
00:00:27,560 --> 00:00:30,880
Speaker 1: large caps, the bank's locks ground, with Commonwealth Bank down

11
00:00:30,920 --> 00:00:33,720
Speaker 1: one percent, Where's Farmers also dropped one percent, while We'll

12
00:00:33,760 --> 00:00:36,160
Speaker 1: Quarry was off two percent. The big miners were mixed,

13
00:00:36,200 --> 00:00:38,880
Speaker 1: while the big supermarkets trended lower. Among the tech stocks,

14
00:00:38,920 --> 00:00:41,920
Speaker 1: Wise Tech Global, Promedicus, and to a lesser extent, zero

15
00:00:42,280 --> 00:00:45,560
Speaker 1: All Film Storry number two. There's plenty going on in

16
00:00:45,560 --> 00:00:48,120
Speaker 1: international markets. On Wall Street overnight, the S and P

17
00:00:48,200 --> 00:00:50,920
Speaker 1: five hundred tumbled more than one and a half percent

18
00:00:51,360 --> 00:00:54,960
Speaker 1: after a sale of US government bonds Disappointed Now. The

19
00:00:55,000 --> 00:00:59,000
Speaker 1: soft demand came after Moody's downgraded US sovereign debt last

20
00:00:59,040 --> 00:01:01,880
Speaker 1: week that suggested that there are a few jitters in

21
00:01:01,920 --> 00:01:05,920
Speaker 1: the market and that hit equities. It did help gold prices, though,

22
00:01:05,920 --> 00:01:09,080
Speaker 1: with a precious metal pushing back to about three thousand,

23
00:01:09,160 --> 00:01:11,480
Speaker 1: three hundred and twenty five US dollars announced goals up

24
00:01:11,480 --> 00:01:13,760
Speaker 1: about four percent. This week. The Aussie dollar is sitting

25
00:01:13,800 --> 00:01:17,160
Speaker 1: around sixty four and a half US cents Bitcoin those

26
00:01:17,200 --> 00:01:20,320
Speaker 1: going pretty well. It touched an all time high overnight

27
00:01:20,800 --> 00:01:24,160
Speaker 1: of one hundred nine, eight hundred and fifty six US

28
00:01:24,200 --> 00:01:27,480
Speaker 1: dollars before falling back somewhat. The previous high was around

29
00:01:27,480 --> 00:01:30,959
Speaker 1: the time Donald Trump was inaugurated on twenty January. Story

30
00:01:31,040 --> 00:01:34,800
Speaker 1: number three. The Albanezi government is considering progressively luring the

31
00:01:34,959 --> 00:01:38,000
Speaker 1: thirty three percent luxury car tax as part of its

32
00:01:38,000 --> 00:01:41,559
Speaker 1: free trade negotiations with the European Union, rather than cutting

33
00:01:41,600 --> 00:01:44,720
Speaker 1: it in one hit. The plan comes amid representations from

34
00:01:44,840 --> 00:01:48,480
Speaker 1: car dealers and automobile manufacturers who want the tax abolished

35
00:01:48,520 --> 00:01:52,640
Speaker 1: without sparking a rapid collapse in luxury car resale values.

36
00:01:52,680 --> 00:01:55,520
Speaker 1: According to The Australian, the talks with Trade Minister Don

37
00:01:55,560 --> 00:01:59,400
Speaker 1: Farrell's office follow anecdotal reports of a buyer strike by

38
00:01:59,400 --> 00:02:02,760
Speaker 1: those considered purchasing vehicles that attract the tax. For example,

39
00:02:02,760 --> 00:02:04,880
Speaker 1: the tax adds more than eleven thousand dollars to the

40
00:02:04,880 --> 00:02:07,280
Speaker 1: price of new Toyota land Cruiser. At the same time,

41
00:02:07,320 --> 00:02:10,560
Speaker 1: new quarterly figures revealed sales of electric vehicles fell to

42
00:02:10,600 --> 00:02:13,239
Speaker 1: their lowest levels in two years, amid a decline in

43
00:02:13,320 --> 00:02:16,240
Speaker 1: overall vehicle sales and a sharp increase in sales of

44
00:02:16,320 --> 00:02:20,080
Speaker 1: conventional and plug in hybrids. Straight Umer four. In corporate news,

45
00:02:20,120 --> 00:02:22,760
Speaker 1: Rio Tinto is conducting early works and final studies to

46
00:02:22,800 --> 00:02:26,840
Speaker 1: potentially almost double book site production from its am Run

47
00:02:26,960 --> 00:02:30,440
Speaker 1: project in far North Queensland. Nov Onyx rose after the

48
00:02:30,560 --> 00:02:34,320
Speaker 1: US Commerce Department made a preliminary decision to impose duties

49
00:02:34,360 --> 00:02:37,160
Speaker 1: on graphite exports from China. That's good news for the

50
00:02:37,160 --> 00:02:42,560
Speaker 1: Australian based battery material manufacturer. IAG increased after securing approval

51
00:02:42,639 --> 00:02:46,680
Speaker 1: for a takeover bid for RACQ Insurance. Main Farmer fell

52
00:02:46,720 --> 00:02:50,880
Speaker 1: further following yesterday's thirty percent drop after the ASEX queried

53
00:02:50,919 --> 00:02:53,720
Speaker 1: Wyat's receipt of a letter from US regulators did not

54
00:02:54,080 --> 00:02:57,600
Speaker 1: require market disclosure, and MA Financial Group says it's buying

55
00:02:57,639 --> 00:03:01,240
Speaker 1: real estate manager IP Generation for nine million dollars. Finally,

56
00:03:01,280 --> 00:03:04,800
Speaker 1: story number five, the US Pentagon has formally accepted a

57
00:03:04,919 --> 00:03:09,040
Speaker 1: four hundred million US dollar luxury jumbo jet gifted by

58
00:03:09,120 --> 00:03:12,840
Speaker 1: Katar that we used as the US President's plane, despite

59
00:03:12,880 --> 00:03:16,520
Speaker 1: by partisan concerns about ethics and security. Donald Trump wants

60
00:03:16,520 --> 00:03:19,000
Speaker 1: the aircraft to be used as Air Force one while

61
00:03:19,000 --> 00:03:21,880
Speaker 1: Boeing completes two new jets that have been delayed. The

62
00:03:21,960 --> 00:03:24,520
Speaker 1: gift will need to be modified before it can fly

63
00:03:24,680 --> 00:03:28,040
Speaker 1: the president now. Democrats have heavily criticized the acceptance of

64
00:03:28,080 --> 00:03:30,799
Speaker 1: the jet. Chuck Schumer, the top Democrat in the US

65
00:03:30,840 --> 00:03:34,160
Speaker 1: Senate on the Chamber four, called the plane the largest

66
00:03:34,240 --> 00:03:37,800
Speaker 1: foreign gift to an American president in modern history. Before

67
00:03:37,800 --> 00:03:39,920
Speaker 1: we leave Donald Trump, he held a firing meeting with

68
00:03:39,960 --> 00:03:44,640
Speaker 1: the South African president overnight over that country's alleged mistreatment

69
00:03:44,760 --> 00:03:49,440
Speaker 1: of white farmers. Trump alleged white genocide and land caziers,

70
00:03:49,480 --> 00:03:52,240
Speaker 1: including showing a video in the Able Office that, according

71
00:03:52,240 --> 00:03:56,480
Speaker 1: to the President, shows the graves of white people. That's

72
00:03:56,520 --> 00:03:58,920
Speaker 1: it for the afternoon report for Thursday, the twenty second

73
00:03:58,920 --> 00:04:01,040
Speaker 1: of May twenty five. Make sure you hit follow on

74
00:04:01,080 --> 00:04:02,960
Speaker 1: the podcast. We will be back tomorrow morning with the

75
00:04:03,000 --> 00:04:05,760
Speaker 1: Friday edition of Heere and Great Business NS. I'm sure, Elma,

76
00:04:06,120 --> 00:04:09,040
Speaker 1: I'm sure you read me. H