1
00:00:04,120 --> 00:00:06,840
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:07,080 --> 00:00:09,600
Speaker 1: for Wednesday, the twenty fifth of June twenty twenty five.

3
00:00:09,640 --> 00:00:12,440
Speaker 1: I'm Suan Aelma. Every afternoon, we've got the five stories

4
00:00:12,440 --> 00:00:14,240
Speaker 1: that happened today that you need to know about. Story

5
00:00:14,360 --> 00:00:17,160
Speaker 1: number one. The SMPA Sex two hundred finished the day

6
00:00:17,239 --> 00:00:20,520
Speaker 1: flat at eighty five hundred and fifty nine points. It

7
00:00:20,600 --> 00:00:24,120
Speaker 1: came as Australian Bureau of Statistics figures show a drop

8
00:00:24,160 --> 00:00:27,680
Speaker 1: in inflation during May. That's good news. The financials did

9
00:00:27,880 --> 00:00:30,320
Speaker 1: best on the market today, with An's eden Comwealth Bank

10
00:00:30,400 --> 00:00:33,279
Speaker 1: leading the way. Materials companies did worst, with the big

11
00:00:33,320 --> 00:00:37,240
Speaker 1: miners reversing some of yesterday's gains. Virgin Australia jumped another

12
00:00:37,280 --> 00:00:40,920
Speaker 1: two percent after its eleven cent rise yesterday that was

13
00:00:40,960 --> 00:00:44,120
Speaker 1: its first day of training on the burse drone shield

14
00:00:44,200 --> 00:00:47,080
Speaker 1: jump more than twenty percent after the defense technology company

15
00:00:47,400 --> 00:00:51,600
Speaker 1: announced a deal with a European group for handheld detection

16
00:00:51,800 --> 00:00:54,880
Speaker 1: and counter drone systems and by now pay. Later company

17
00:00:54,920 --> 00:00:57,600
Speaker 1: Home Group confirmed it had received an offer from the

18
00:00:57,640 --> 00:01:01,240
Speaker 1: family office of chairman Andrew abbercrot Bomby the company said

19
00:01:01,320 --> 00:01:03,360
Speaker 1: it had received the offer after the close of training

20
00:01:03,400 --> 00:01:06,240
Speaker 1: on June twenty three of fifty eight cents per share

21
00:01:06,319 --> 00:01:09,479
Speaker 1: from the Abercrombie Group. Story number two plenty, happening on

22
00:01:09,520 --> 00:01:12,560
Speaker 1: Wall Street. US Federal Reserve chairs Your Own Power said

23
00:01:12,560 --> 00:01:15,440
Speaker 1: he's in no rush to lower interest rates as officials

24
00:01:15,480 --> 00:01:18,600
Speaker 1: wait for more clarity on the economic impact of Donald

25
00:01:18,640 --> 00:01:22,399
Speaker 1: Trump's tariffs. That wasn't enough to damp an enthusiasm bad equities, though,

26
00:01:22,840 --> 00:01:26,080
Speaker 1: on the back of the Iran Israel truce, the broad

27
00:01:26,120 --> 00:01:28,600
Speaker 1: based S and P five hundred jumped more than one percent,

28
00:01:29,080 --> 00:01:31,520
Speaker 1: while the tech heavy Nasdaq one hundred climbed to another

29
00:01:31,520 --> 00:01:34,520
Speaker 1: one point five percent. In fact, that hit a new record,

30
00:01:34,840 --> 00:01:38,400
Speaker 1: beating its February high. In currency markets, the CPI data

31
00:01:38,440 --> 00:01:41,160
Speaker 1: locally pushed the Aussie dollar back below sixty five US

32
00:01:41,160 --> 00:01:44,559
Speaker 1: cents after it had risen before that announcement, and Oil's

33
00:01:44,560 --> 00:01:46,720
Speaker 1: training around sixty five US dollars a barrel after a

34
00:01:46,800 --> 00:01:50,160
Speaker 1: rollercoaster ride during the past couple of days. Story number three.

35
00:01:50,240 --> 00:01:53,400
Speaker 1: Treasurer Jim Chalmers has asked the Australian Competition and Consumer

36
00:01:53,440 --> 00:01:56,320
Speaker 1: Commission to make sure service stations are not ripping off

37
00:01:56,400 --> 00:01:59,320
Speaker 1: drivers at the petrol bowser, or, as Jim Chalmers puts it.

38
00:01:59,360 --> 00:02:01,920
Speaker 1: He wants to make sure that service stations aren't taking

39
00:02:01,960 --> 00:02:05,560
Speaker 1: advantage of people amid the current volatility in oil prices.

40
00:02:05,880 --> 00:02:07,880
Speaker 1: As best as I can work out what happens in

41
00:02:07,920 --> 00:02:10,400
Speaker 1: oil prices feeds through to petrol prices with a two

42
00:02:10,520 --> 00:02:14,040
Speaker 1: or three week lag, although it's very hard to get

43
00:02:14,040 --> 00:02:16,600
Speaker 1: your head around this. In Charmer's words I quote him,

44
00:02:16,680 --> 00:02:19,400
Speaker 1: we don't want to see service stations treat people like mugs.

45
00:02:19,560 --> 00:02:21,760
Speaker 1: We want to see the petrol prices reflect developments in

46
00:02:21,800 --> 00:02:24,120
Speaker 1: the market, and so we've asked the HABC to use

47
00:02:24,160 --> 00:02:27,480
Speaker 1: their powers and resources to ensure that's the case. Story

48
00:02:27,560 --> 00:02:29,320
Speaker 1: number four. There are a couple of deals in the

49
00:02:29,360 --> 00:02:33,280
Speaker 1: gaming sector in different stages of completion. US Gaming Giant,

50
00:02:33,360 --> 00:02:36,200
Speaker 1: Bally's Corporation and Bruce Matheson a one step closer to

51
00:02:36,240 --> 00:02:39,560
Speaker 1: gaining control of Star Entertainment. More than ninety seven percent

52
00:02:39,560 --> 00:02:42,200
Speaker 1: of shareholders have approved two items that were on the

53
00:02:42,200 --> 00:02:44,920
Speaker 1: agenda at the company's general meeting, which were needed to

54
00:02:44,919 --> 00:02:48,919
Speaker 1: give Bally's and Matheson majority control of the casino operator.

55
00:02:49,240 --> 00:02:52,160
Speaker 1: The deal was first announced in April and is expected

56
00:02:52,200 --> 00:02:55,000
Speaker 1: to provide the struggling casino group with enough money to

57
00:02:55,120 --> 00:02:58,799
Speaker 1: keep operating. Chair and Ward told investors today there was

58
00:02:58,880 --> 00:03:01,760
Speaker 1: no other choice but to approve the deal. The other

59
00:03:01,800 --> 00:03:04,799
Speaker 1: deal in gaming is not likely to go ahead. Better

60
00:03:05,080 --> 00:03:09,200
Speaker 1: BTR shares dropped more than ten percent after takeover arrival.

61
00:03:09,200 --> 00:03:12,799
Speaker 1: In Japanese entertainment giant Mixi secured the votes needed to

62
00:03:12,840 --> 00:03:15,360
Speaker 1: acquire points bet. More than ninety five percent of voters

63
00:03:15,360 --> 00:03:18,320
Speaker 1: supported the Mixi offer four points bet. It means that

64
00:03:18,400 --> 00:03:20,639
Speaker 1: Better will not be able to proceed with an off

65
00:03:20,800 --> 00:03:24,000
Speaker 1: market take over bid four points bet Sorry. Number five

66
00:03:24,080 --> 00:03:28,320
Speaker 1: journalist Antoinette Latouf has won her unlawful termination claim against

67
00:03:28,400 --> 00:03:31,840
Speaker 1: the ABC after a judge ruled she was removed for

68
00:03:31,919 --> 00:03:35,240
Speaker 1: her political opinions on the Israel Palestinian conflict was not

69
00:03:35,240 --> 00:03:37,320
Speaker 1: given a fair opportunity to plead her case to the

70
00:03:37,320 --> 00:03:40,960
Speaker 1: public broadcast before it took her off the air. In

71
00:03:41,080 --> 00:03:45,320
Speaker 1: a pak Sydney courtroom today, Federal Court Judge Darryl Rangiam

72
00:03:45,680 --> 00:03:48,800
Speaker 1: said the ABC had breached employment law by terminating the

73
00:03:48,800 --> 00:03:52,480
Speaker 1: employment of Antoinette Latoeuf for reasons including that she held

74
00:03:52,480 --> 00:03:56,040
Speaker 1: a political opinion opposing the Israeli military campaign in Gaza.

75
00:03:56,320 --> 00:03:59,720
Speaker 1: Renga ordered the ABC to pay Latouf seventy thousand dollars

76
00:03:59,720 --> 00:04:03,040
Speaker 1: in common pensation. According to the AFR, another hearing date

77
00:04:03,080 --> 00:04:05,520
Speaker 1: will be set for a penalty to deter the ABC

78
00:04:05,880 --> 00:04:08,960
Speaker 1: or other employers from similar actions. That's it for the

79
00:04:08,960 --> 00:04:11,480
Speaker 1: afternoon report for Wednesday, the twenty fifth of June twenty

80
00:04:11,520 --> 00:04:13,400
Speaker 1: twenty five. Make sure you hit follow on the podcast.

81
00:04:13,480 --> 00:04:15,600
Speaker 1: We'll be back tomorrow morning with your Thursday edition of

82
00:04:15,720 --> 00:04:17,840
Speaker 1: the past five US. This year is by Fear and Greed.

83
00:04:18,160 --> 00:04:20,039
Speaker 1: I'm sure Elma enjoy your evening