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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report, Thursday,

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Speaker 1: the twelfth of March twenty twenty six. Oh Michael Thompson,

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Speaker 1: and every afternoon, we've got the five stories that happen

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Speaker 1: today that you need to know about. Let's go with

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Speaker 1: story number one. The S and p ASX two hundred

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Speaker 1: fell one point three percent today to eighty six hundred

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Speaker 1: and twenty nine points, wiping about forty billion dollars from

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Speaker 1: the market as oil prices surged after attax on tankers

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Speaker 1: in Iraqi waters. Also adding pressure to the oil price

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Speaker 1: was Oman clearing the vessels from a key export terminal.

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Speaker 1: Brent krude has now jumped nearly ten percent a day

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Speaker 1: to just above one hundred US dollars a barrel, raising

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Speaker 1: these fears that we've been talking about all week now

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Speaker 1: that the Middle East conflicts could trigger a broader economic

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Speaker 1: shock and disrupt global energy supplies. Locally, energy stocks worthy

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Speaker 1: main beneficiaries of this woodside rose two point one percent,

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Speaker 1: Karun energy the gains nearly five percent, and poll was

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Speaker 1: up nearly three percent. The coal miners rallied as well,

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Speaker 1: Yan coal up ten and a half percent, white Haven

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Speaker 1: coal up more than six and a half. Elsewhere, though

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Speaker 1: away from the energy stocks, the market was weaker. Technology

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Speaker 1: and property stocks fell as rate expectations climbed. Or get

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Speaker 1: to that one a bit more detail In a moment,

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Speaker 1: Zero was down four percent wise, Tech Global was off

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Speaker 1: two and a half percent, while the banks and miners

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Speaker 1: also slipped. BHP was off nearly two percent, A and

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Speaker 1: Z down two and a half percent. Under story number two,

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Speaker 1: the Aussie dollar has climbed to a four year high

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Speaker 1: near seventy two US sense as markets increasingly expect the

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Speaker 1: Reserve Bank Board to raise interest rates when it meets

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Speaker 1: Monday and Tuesday of next week. All four major banks,

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Speaker 1: Commonwealth Bank, A and Z NAB Westpacer are all forecasting

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Speaker 1: a rate increase to four point one percent. Markets are

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Speaker 1: pricing about an eighty percent chance of a movie It

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Speaker 1: is looking increasingly likely the Aussie dollar, though the currency

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Speaker 1: has surged as well against other major currencies. It has

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Speaker 1: hit its highest level against the Japanese yen since nineteen ninety,

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Speaker 1: a decade high against the New Zealand dollar. Economists say

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Speaker 1: that that spike that I was talking about before in

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Speaker 1: global oil prices is likely to push inflation higher here

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Speaker 1: increasing pressure on the reserve banks to Titan policy even

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Speaker 1: further as other central banks consider cutting rates. Story number three.

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Speaker 1: The Anti Semitism Royal Commission has been thrown into turmoil

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Speaker 1: after Special Advisor Dennis Richardson abruptly resigned. The former AZO

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Speaker 1: chief said he was stepping down after concluding that his

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Speaker 1: role had become unnecessary that he was effectively being paid

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Speaker 1: as a highly paid researcher. Richardson revealed that he was

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Speaker 1: being paid about five and a half thousand dollars a

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Speaker 1: day and felt he was being overpaid for the work

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Speaker 1: he was doing. The resignation comes just weeks before Commissioner

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Speaker 1: Virginia Bell is due to deliver an interim report into

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Speaker 1: the performance of intelligence and police agencies ahead of the

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Speaker 1: Bondai massacre. Story number four. Colin's Foods, which owns KFC

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Speaker 1: and Taco Bells across Australia, has acquired eight KFC outlets

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Speaker 1: in Bavaria as it accelerates its expansion into Germany. It

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Speaker 1: will take Collins's German network to about twenty five stores

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Speaker 1: and as plans to build up to ninety news stores

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Speaker 1: over the next four years. Collins also signed a revised

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Speaker 1: Corporate Franchise Agreement for the Netherlands with Young Brands, meaning

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Speaker 1: it will hold the rights to KFC in that country

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Speaker 1: until the end of twenty twenty nine. It currently has

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Speaker 1: sixty four KFCs in the Netherlands. There you go, and finally,

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Speaker 1: story number five. The Trump administration has launched trade investigations

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Speaker 1: into fifteen countries and the European Union as it prepares

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Speaker 1: a new round of tariffs. These investigations will focus on

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Speaker 1: what Washington describes as excess production capacity that is contributing

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Speaker 1: to large trade surpluses with the United States. US Trade

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Speaker 1: Representative Jamison Greer said that the investigation signal that President

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Speaker 1: Donald Trump's protectionist approach to trade will continue despite the

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Speaker 1: Supreme Court striking down earlier tariffs. Those are the tariffs,

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Speaker 1: of course, that were announced last year on Liberation Day.

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Speaker 1: Countries under review as part of this latest round. It's

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Speaker 1: a pretty long list, but it includes China, Japan, India,

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Speaker 1: South Korea, several Southeast Asian nations, as well as the EU,

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Speaker 1: as I mentioned before, and other major US allies in Europe.

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Speaker 1: That's it for the Afternoon Report for Thursday, the twelfth

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Speaker 1: of March. Make sure you're following the podcast, and please

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Speaker 1: head along to Fear and Greed dot com dot au

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Speaker 1: to sign up for our free daily newsletter. I'm Michael Thompson.

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Speaker 1: Enjoy your evening.