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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 second of September twenty twenty five. Are

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Speaker 1: Michael Thompson. Every afternoon, I've got the five stories that

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

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Speaker 1: with story number one. It is all about markets. The

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Speaker 1: S and p ASX two hundred closed zero point three

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Speaker 1: percent lower today to eighty nine hundred and one points.

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Speaker 1: It did spend a bit of time below the eighty

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Speaker 1: nine hundred mark before recovering a bit. A number of

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Speaker 1: big companies today went ex dividend, which means if you

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Speaker 1: held the stock before today, you received the dividend that

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Speaker 1: was announced during the August reporting season. If you held

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Speaker 1: it after that point, you don't get it. And Wes Farmers,

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Speaker 1: will Worth, Spendigo Bank, Santos all dipped for that reason.

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Speaker 1: The banks had a pretty good day. NAB was up

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Speaker 1: almost two percent, Commonwealth Bank and Westpac both up around

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Speaker 1: the one and a half percent mark. Collins Foods, which

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Speaker 1: operates KFC in Australia, jumped eight point three percent today

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Speaker 1: after it reported a very strong lift in so far

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Speaker 1: this financial year. Clearly, consumers are feeling pretty good and

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Speaker 1: are happy to spend. That's reflected in the A and

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Speaker 1: zed Roy Morgan Index today that showed consumer confidence is

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Speaker 1: indeed climbing. Story number two, Gold has smashed through a

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Speaker 1: fresh record, hitting three thousand, five hundred and eight US

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Speaker 1: dollars an ounce, before easing back to under three thousand,

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Speaker 1: five hundred this afternoon. Analysts say that the surge reflects

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Speaker 1: a weaker US dollar and strong demand from central banks

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Speaker 1: and institutions who are shifting out of US treasuries are

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Speaker 1: mid concerns over debts, ratings, downgrades, and really a lot

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Speaker 1: of geopolitical risk at the moment. In fact, central banks

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Speaker 1: now hold more gold than treasuries. Interesting to note, silver

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Speaker 1: has also jumped to its highest level now since twenty eleven.

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Speaker 1: Story number three, Australia's current account deficit ticked up to

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Speaker 1: thirteen point seven billion dollars in the June quarter, meaning

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Speaker 1: that nation is spending more on imports than it's earning

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Speaker 1: from exports in the mode simple terms imaginable. The ABS

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Speaker 1: says investment inflows helped narrow the income gap, but weaker

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Speaker 1: commodity exports and a surge in gold imports and overseas

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Speaker 1: travel dragged the trade surplus. Lower exports fell nearly one percent,

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Speaker 1: led by iron ore and coal, while services exports jumped

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Speaker 1: almost four percent, largely thanks to more New Zealanders flying

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Speaker 1: in the Terms of trade slipped again as commodity price

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Speaker 1: is weakened, underscoring really how Australia's trade position is being

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Speaker 1: squeezed even as travel demand remained strong. Story number four.

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Speaker 1: Australia's aviation regulator has rejected claims from a new airline

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Speaker 1: that the startup is already equipped with the license that

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Speaker 1: it needs to fly. Lead little bit of context to

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Speaker 1: this one. Koala Airlines is the latest airline to attempt

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Speaker 1: to take on Quantus and Virgin Australia. Others like Bonza

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Speaker 1: and Rex have tried and they have failed. The founder

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Speaker 1: of Koala Airlines is a fellow by the name of

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Speaker 1: Bill Astling, and he purchased another business called Desert Air

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Speaker 1: Safari back in twenty nineteen, and he said that he

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Speaker 1: inherited an air operator's certificate through that purchase. But KASSA,

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Speaker 1: which is the aviation regulator, says that that particular certificate

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Speaker 1: is subject to a direction not to operate and doesn't

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Speaker 1: cover Koala's plans to run large Boeing seven three seven jets.

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Speaker 1: That means that Koala now has to go through the

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Speaker 1: full approval process before launching, which is the same hurdle

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Speaker 1: that delayed Bonzo by nine months. Asling has said that

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Speaker 1: he wants to avoid the mistakes that bonds are made

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Speaker 1: and that Rex made, but it is clearly going to

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Speaker 1: be a long time before we see another major airline

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Speaker 1: flying between Australian capital cities. Finally, story number five, another

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Speaker 1: plane related story. The European Commissioned President Ursula Vondalayan has

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Speaker 1: become the target of suspected Russian GPS jamming while flying

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Speaker 1: into Bulgaria. Reports say that the navigation system on her

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Speaker 1: plane was knocked out mid flight, forcing the crew to

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Speaker 1: switch to old school paper maps in order to land safely.

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Speaker 1: EU officials confirmed the interference and say Bulgarian authorities suspect

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Speaker 1: Russia was behind it. Vondalayan is a fierce critic of

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Speaker 1: Russian President Vladimir Putin. She didn't mince words during her

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Speaker 1: visit to the Polish border, calling the Russian leader a

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Speaker 1: predator who must be kept in check. The timing of

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Speaker 1: the jamming is certainly raising eyebrows happening just as she

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Speaker 1: tours countries on the EU's eastern flank, underscoring what Brussels

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Speaker 1: calls the everyday challenges posed by Russia's aggression. That's it

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Speaker 1: for the afternoon Report for Tuesday, the second of September

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Speaker 1: twenty twenty five. Make sure you hit follow on the

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Speaker 1: podcast and we'll be back tomorrow morning with the Wednesday

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Speaker 1: edition of the Fast five Business News by Fear and Greed.

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Speaker 1: I'm Michael Thompson. Enjoy your evening