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

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Speaker 1: for Tuesday, the twenty first of January twenty twenty five.

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Speaker 1: I'm Sean Aylmer. Every afternoon, we've got the five stories

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Speaker 1: that happened today that you need to know about. Story Num. One.

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Speaker 1: Donald Trump this morning became the forty seventh President of

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Speaker 1: the United States and got to work immediately. In his

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Speaker 1: inaugural address, he said he'd begin the complete restoration of America.

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Speaker 1: He said that energie is the biggest factor contributing to

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Speaker 1: inflation and deregulation, and additional oil and gas production will

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Speaker 1: help bring it down. He's also considering imposing additional tariffs

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Speaker 1: on two of the US's biggest training partners, Canada and Mexico.

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Speaker 1: He gave TikTok the seventy five day reprieve from a

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Speaker 1: nationwide band, so his administration has time to decide what

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Speaker 1: to do about the popular video sharing app. Who also

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Speaker 1: signed an order to end birthright citizenship withdrew from the

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Speaker 1: World Health Organization. Declared a national emergency on energy and

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Speaker 1: approved measures to address it. Declared a national emergency at

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Speaker 1: the US Mexico border. Very very busy man initially Wall

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Speaker 1: Street rows in after hours trading, but the US dollar fell.

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Speaker 1: The local share market initially rallied about one percent, but

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Speaker 1: then the comments about tariffs on Mexico and Canada triggered

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Speaker 1: it sell off. The currencies of Mexico, Canada and China

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Speaker 1: all dropped sharply. The Aussie dollars back about sixty three

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Speaker 1: US cents before the inauguration. Then we had those tariff's comments.

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Speaker 1: It's down to about sixty two US sins at the moment.

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Speaker 1: Story number two. Both the Coalition and Labor are upping

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Speaker 1: their social media activity ahead of the next election, even

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Speaker 1: as they implement a ban on under sixteen's accessing online platforms.

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Speaker 1: Both sides want high quality and original content to engage

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Speaker 1: younger Australians. According to a report in The Financial Review,

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Speaker 1: Peter Dunton has pushed the Coalition candidates to use TikTok

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Speaker 1: In particular, Labor will favor Facebook. Facebook, Google, search and

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Speaker 1: YouTube are expected to be among the most popular from

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Speaker 1: both sides. The problem about TikTok is, like LinkedIn, politicians

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Speaker 1: can't pay to ensure their videos are promoted where they

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Speaker 1: want them to be, so the content needs organic growth

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Speaker 1: to reach wide audiences on Facebook, politicians can target specific

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Speaker 1: postcodes and demographics. That makes it easier to get content

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Speaker 1: in front of swinging voters. Story number three. The SMPA

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Speaker 1: six two hundred finished up zero point seven percent today

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Speaker 1: to eight thousand, four hundred and two points. The financials

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Speaker 1: did best in corporate new Santos shares fell two percent

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Speaker 1: after it delayed a two billion dollar plus oil and

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Speaker 1: gas joint venture proposed in Western Australia. The News sent

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Speaker 1: its minority partner Cartibn Energy share price down about twenty percent.

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Speaker 1: Hub twenty four jump to eleven percent after the Wealth

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Speaker 1: platform recorded strong quarterly inflows, and Liontown jumped twelve percent

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Speaker 1: best on the day after it said lithium output triple

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Speaker 1: in the December quarter. It's back to the level it

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Speaker 1: was but in twenty twenty three. Stro number four. West

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Speaker 1: Farmers is closing its struggling marketplace business Catch as it

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Speaker 1: fights to take on ultra cheap international site such as

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Speaker 1: China's Temu and US giant Amazon. Catch will stop training

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Speaker 1: in its own right in the fourth quarter of the

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Speaker 1: twenty twenty five financial year that's the June quarter this year.

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Speaker 1: After years of losses, West Farmers has had enough. It

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Speaker 1: bought Catch in twenty nineteen for two hundred and thirty

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Speaker 1: million dollars, lost about one hundred million dollars on it

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Speaker 1: last year. Catch sells everything from kids sneakers to electronics

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Speaker 1: and books, but obviously not enough of them. The biggest

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Speaker 1: online players in Australia, at least in the retail space,

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Speaker 1: Woolies comes in at number one, Amazon comes in at

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Speaker 1: number two, Coals, then Office Works, JB, High Fi and Endeavor.

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Speaker 1: According to Goldman Sachs, Amazon's the big player in the

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Speaker 1: market in terms of investment five billion dollars since twenty

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Speaker 1: twenty two and storing number five. BHP said it's copper

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Speaker 1: production rose ten percent in the first half after its

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Speaker 1: Escandida mine in Chile reached record production. It's the world's

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Speaker 1: biggest minor BHP now. Iron ore production was up one percent.

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Speaker 1: Steel making coal production was down twenty one percent, sold

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Speaker 1: some of its cold assets. Nickel production is down thirty

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Speaker 1: one percent. That's after its suspended operations as nickel prices

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Speaker 1: tumbled in the second half of last year. Copper, however,

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Speaker 1: is the hot commodity. We have Bangcor and Rio talking

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Speaker 1: about a merger on the back of it, BHP was

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Speaker 1: talking to Anglo American about buying them on the back

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Speaker 1: of copper prices. The good news is that Escondida in Chile,

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Speaker 1: which Rio owns thirty percent of, is doing really well.

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Speaker 1: The bad news is Olympic Dam in South Australia ain't

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Speaker 1: doing so well. Beachp's share price fell one percent today.

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Speaker 1: That's it for the afternoon report for Tuesday, the twenty

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Speaker 1: first of January twenty twenty five. Make sure you hit

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Speaker 1: follow on the podcast. We'll be back tomorrow morning with

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Speaker 1: see Wednesday edition of the Fast five Business News by

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Speaker 1: Fear and Greed. I'm Sean Elmer. Enjoy your evening.