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

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Speaker 1: for Thursday, the eleventh of December twenty twenty five. Oh

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Speaker 1: Michael Thompson, and every afternoon, we've got the five stories

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

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Speaker 1: go a story number one. The S and P ASX

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Speaker 1: two hundred climbed zero point two percent today to eighty

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Speaker 1: five hundred and ninety two points. It started out a

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Speaker 1: lot stronger earlier in the day, fueled by the Fed's

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Speaker 1: decision this morning to cut interest rates in the United States,

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Speaker 1: but US tech company Oracle reported results then that fell

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Speaker 1: short of expectations, and it was sold off almost ten

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Speaker 1: percent in after hours trading, which then flowed through to

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Speaker 1: the local tech sector here and before you know what,

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Speaker 1: the ASX just ran out of puff Wise tech Global

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Speaker 1: and Live three sixty were both off two point two percent.

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Speaker 1: The big miners helped the boss, with BHP up one

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Speaker 1: point three percent, Rea Tinto one point eight percent, helped

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Speaker 1: buy that FED rate cut and hopes of fresh stimulus

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Speaker 1: in China. An increase in the gold price benefited Ozzie

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Speaker 1: gold miners as well, and as quickly the unemployment rate

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Speaker 1: held steady at four point three percent in November, but

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Speaker 1: twenty one thousand fewer people had jobs, which was a

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Speaker 1: fairway from economists forecasts for twenty thousand new jobs being created.

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Speaker 1: We'll have a lot more on this one tomorrow morning.

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Speaker 1: On to story number two. Now and Prime Minister Anthony

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Speaker 1: Abernezi has clashed with reporters about the ongoing saga over

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Speaker 1: travel entitlements for politicians. The PM was at a press

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Speaker 1: conference about the government's social media reforms, but instead was

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Speaker 1: grilled over revelations about Communications Minister Annika Wells taxpayer funded

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Speaker 1: trips that have been well canvassed over the last week

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Speaker 1: or two, and other politicians from both sides who've used

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Speaker 1: legitimate family reunion policies to fly family members around the country.

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Speaker 1: The Prime Minister said that the rules allowing politicians to

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Speaker 1: travel with family have been in place since the former

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Speaker 1: government and he hasn't changed them. And I quote, I

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Speaker 1: don't influence that from the top. I'm not the finance minister.

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Speaker 1: I haven't changed the rule. What I've been focused on

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Speaker 1: this week, to be frank, is one of the biggest

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Speaker 1: reforms that we will do in the entire time that

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Speaker 1: we're in office. My focus is not on entitlements and

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Speaker 1: the Finance Minister rules. Sounds like the Prime Minister has

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Speaker 1: had enough. Story number three. Optus has been named Australia's

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Speaker 1: most distrusted telco, with Roy Morgan's Risk Monitor also listing

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Speaker 1: the whole telecommunications sector as the second most distrusted industry,

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Speaker 1: behind only social media. Optus's reputation has been batted first

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Speaker 1: by its twenty twenty two data breach and then by

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Speaker 1: this year's fatal outage. Telstra is next on the telco

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Speaker 1: distrust list, followed by Dodo and Huawei. One bright spot

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Speaker 1: I suppose you'd say for Optus's owner, its budget brander Maysim,

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Speaker 1: has escaped the fallout and is one of the most

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Speaker 1: trusted brands in the sector, behind Ossie Broadband. Overall, the

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Speaker 1: telco industry, as I mentioned, is now the second most

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Speaker 1: distrusted sector in Australia behind social media, but it's a

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Speaker 1: head of supermarkets, mining, government and Gambler. Story number four.

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Speaker 1: A skydiving flight over far North Queensland narrowly avoided disaster

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Speaker 1: after a parachuter's reserve chute snagged on the plane. A

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Speaker 1: report by the Australian Transport Safety Bureau today has revealed

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Speaker 1: details of the incident. The videos available online. If you

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Speaker 1: haven't seen it, check it out. It is really quite extraordinary.

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Speaker 1: The skydiver was climbing out of a Cessna caravan about

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Speaker 1: fifteen thousand feet over Tully in far North Queensland in

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Speaker 1: September when the reserve handled the handle for the reserve

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Speaker 1: chute at caught on the wing flap, deploying the chute,

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Speaker 1: dragging him essentially out of the plane onto the plane's tail,

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Speaker 1: where he was dangling. The plane kept flying. The pilot

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Speaker 1: managed to call the May Day. Thirteen skydivers still jumped.

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Speaker 1: The trapp skydiver eventually used a hook knife to cut

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Speaker 1: lines from the reserve chute, broke free, deployed the main

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Speaker 1: parachute and landed safely. The plane also got down safely.

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Speaker 1: It is a remarkable story of a terrifying near miss. Finally,

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Speaker 1: story number five, Elon Musk is edging closer to becoming

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Speaker 1: the world's first trillionaire, with talk his company SpaceX might

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Speaker 1: list on the stock market next year. Bloomberg reports SpaceX

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Speaker 1: is preparing an IPO that could value the rocket and

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Speaker 1: satellite company at around one point five trillion US dollars,

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Speaker 1: one of the biggest floats in history. At that price,

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Speaker 1: Musk's stake in SpaceX alone could be worth more than

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Speaker 1: six hundred billion US dollars, which would push his total

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Speaker 1: fortune to or beyond trillion dollars. There are some big hurdles.

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Speaker 1: SpaceX would need investors to buy into a fairly lofty valuation,

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Speaker 1: and as for his other big payday from Tesla that

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Speaker 1: could push him beyond that trillion dollar mark on its own,

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Speaker 1: the electric vehicle maker still has to hit extremely ambitious

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Speaker 1: profit and market value targets to justify a record pay deal.

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Speaker 1: And that's it for the afternoon Report for Thursday, the

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Speaker 1: eleventh of December. Make sure you're following the podcast and

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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'll put

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Speaker 1: a link in the show notes as well. I'm Michael Thompson.

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Speaker 1: Enjoy your evening.