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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 eighteenth of February twenty twenty five. I'm

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

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Speaker 1: happened today that you need to know about and what

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Speaker 1: a big day was. Story number one, the Reserve Bank

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Speaker 1: of Australia Board cut the official cash rate by twenty

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Speaker 1: five basis points this afternoon, the first time there's been

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Speaker 1: a downward shift in more than four years. The reduction

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Speaker 1: triggered a tick up in the Aussie dollar, while the

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Speaker 1: share market fell and then rebounded quickly and then fell again.

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Speaker 1: The Reserve Bank, in its statement said inflation is moderating

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Speaker 1: since its peak in twenty twenty two, and higher interest

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Speaker 1: rates have been working. In fact, inflationary pressures are easing

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Speaker 1: faster than anticipated. Wage pressures have eased but remain a concern.

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Speaker 1: Economic growth has slowed, the labor market still remains a risk,

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Speaker 1: and the Central Bank said it remains very cautious on

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Speaker 1: prospects for more rate cuts. Story at number two. The

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Speaker 1: s and PASX two hundred end of the day down

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Speaker 1: about half a percent. Mostly that happened alf the Reserve

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Speaker 1: bank announcement. By the close, it was at eight four

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Speaker 1: hundred and eighty one points. The worst performers were the

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Speaker 1: energy and financials, while healthcare outperformed. Maybe there was just

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Speaker 1: a bit of disappointment about the fact that there isn't

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Speaker 1: another rate cut on the way. Certainly all the big

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Speaker 1: banks were sold off. The big earnings announcement today was BHP.

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Speaker 1: The big Australian made an underlying profit of eight billion

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Speaker 1: dollars last half year. That was considered somewhat disappointed. Mind

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Speaker 1: jury share price ended up slightly today. Story number three

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Speaker 1: Office and industrial property group Dexas said higher interest rates,

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Speaker 1: lower training profits, and the continued impact of higher incentives

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Speaker 1: on its portfolio had dented earnings. Its share price dropped

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Speaker 1: one percent. It took other really state investment trusts with it,

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Speaker 1: including Center and Mervak. Real estate stocks broadly didn't have

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Speaker 1: a great day. The good news, though, is that Dexas

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Speaker 1: boss Ross Duvenet was reasonably upbeat about prospects for city

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Speaker 1: office markets as workers get back to their desks. Story

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Speaker 1: number four in financial services challenged. Your share price tumbled

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Speaker 1: nine percent, worst on the day of the top two hundred,

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Speaker 1: even though it posted a twelve percent increase in earnings.

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Speaker 1: The result was lower than forecast and the business is

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Speaker 1: undertaking a big cost cutting exercise. One of the current

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Speaker 1: share market Darling's wealth management platform group Hub twenty four

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Speaker 1: surged five percent after a denounced day fifty percent jump

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Speaker 1: in profit ahead of expectations. It's up twenty four percent

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Speaker 1: this year one hundred and thirty one percent over the

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Speaker 1: past year, and HMC Capital rowse eleven percent after assets

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Speaker 1: under management jumped forty five percent in the half year

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Speaker 1: to the end of December, with a significant profit contribution

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Speaker 1: from its private equity division. Finally, story number five, a

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Speaker 1: Delta Airlines regional jet flipped upside down upon landing at

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Speaker 1: Canada's Toronto Pearson Airport this morning. It was amid at

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Speaker 1: windy weather following a snowstorm injuring eighteen of the eighty

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Speaker 1: people on board. Remarkably, no one died. Three people on

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Speaker 1: the flight that Oridgin donated in Minneapolisant Paul International Airport

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Speaker 1: suffered critical injuries, among them a child. Authority said. Delta

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Speaker 1: said a CIJ nine hundred aircraft operated by its Endeavor

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Speaker 1: Air subsidiary was involved in a single aircraft accident with

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Speaker 1: seventy six passengers and four crew members on board. According

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Speaker 1: to Reuter's, Canadian authorities said they'll investigate the cause of

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Speaker 1: the crash, which isn't yet known as it For the

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Speaker 1: Afternoon Report for Tuesday, the eighteenth of February twenty twenty five,

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Speaker 1: make sure you hit follow on the podcast. We will

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Speaker 1: be back tomorrow morning with the Wednesday edition of the

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Speaker 1: Past five Business Years by Fear and Gree I'm Sean Elmer.

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Speaker 1: Enjoy your Eavenek