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Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Thursday,

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Speaker 1: the twenty seventh of February twenty twenty five. I'm Sean Elmer.

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Speaker 1: Every afternoon, we've got the five stories that happened today

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Speaker 1: that you need to know about. Stratum one, there's in

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Speaker 1: PASX two hundred closed up zero point three percent today

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Speaker 1: to eighty two hundred and sixty eight points. Consumer staples

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Speaker 1: did best, while tech and healthcare stocks were among the worst.

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Speaker 1: The big miners did well. Now In corporate news, Quantuses

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Speaker 1: share price jumped six percent after it reported strong earnings

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Speaker 1: on the back of a good performance from Jetstar. Cole's

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Speaker 1: share price also rose after it reported a slightly lower

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Speaker 1: net profit that said sales growth was faster than last

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Speaker 1: rival Woolworths. Australia's largest private hospital operator, Ramsay's Healthcare Its

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Speaker 1: share price jumped seven percent after it appointed Goldman Sack

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Speaker 1: to advise on a potential sale of its fifty two

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Speaker 1: po percent controlling stake in a European business Stortumer two.

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Speaker 1: Business investment in Australia remains relatively weak, which doesn't augur

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Speaker 1: well for future economic growth. There's pockets of very strong

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Speaker 1: investment data centers, for example, but mining investment is weakening

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Speaker 1: so to construction, accommodation, rental and real estate. Bureau of

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Speaker 1: Statistics figures for the December quarter came out today. They

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Speaker 1: go into the growth figures which will be out next week.

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Speaker 1: They suggest that business investing isn't adding much to the

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Speaker 1: economy right now. The forecast is for an economic growth

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Speaker 1: rate for twenty twenty four of about one to one

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Speaker 1: and a half percent. Nothing really to write hame about.

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Speaker 1: Story number three. Australia's largest car dealership, Eager's Automotive, jumped

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Speaker 1: twenty percent today after it said it had outperformed the market.

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Speaker 1: That came despite a twenty five percent slide in profit.

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Speaker 1: Billionaire owner Nick Poliitis holds a twenty eight percent stake.

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Speaker 1: The company has two hundred show rooms in Australia and

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Speaker 1: New Zealand. Its second hand car business has done really well,

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Speaker 1: in fact a record called profit for the six months

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Speaker 1: to the end of December. Ceok Thornton said the industry

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Speaker 1: is consolidating. Size is becoming increasingly important. Story number four

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Speaker 1: Snowy Hydro says it will require changes in the leadership

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Speaker 1: by the main contractor on its troubled twelve billion dollars

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Speaker 1: Snowy two point zero project after a serious safety incident

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Speaker 1: that brought underground drilling work to a halt on Monday,

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Speaker 1: failure of an underground fan occurred. It lost part of

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Speaker 1: its blade, sent shrapnel flying through the air. Only sheer

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Speaker 1: luck prevented anyone from being injured, according to the Australian Workers' Union.

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Speaker 1: Now Snowy, owned by the Commonwealth Government, said that following

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Speaker 1: the incident, it will seek an immediate independent review and audit,

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Speaker 1: noting that safety cannot be compromised at the project. According

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Speaker 1: to the finn review, it will also require changes to

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Speaker 1: principal contract a Future Generation joint ventures leadership on the project.

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Speaker 1: Future Generation is owned by Italy's Rebuild and Story Number five.

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Speaker 1: It was the biggest profit announcement on Wall Street for

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Speaker 1: a while, and Video's results for the three months to

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Speaker 1: the end of January and the world's biggest chip maker

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Speaker 1: didn't disappoint. For that period, sales were up seventy eight

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Speaker 1: percent to thirty nine point three billion US dollar. Its

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Speaker 1: profit was higher as the rush to build AI infrastructure

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Speaker 1: accelerates in twenty twenty three. In twenty twenty four and

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Speaker 1: Video was really the powerhouse of Wall Street at one point,

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Speaker 1: becoming the largest company on the bors now. The introduction

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Speaker 1: of deep Seak out of China saw Nvidia's share price tumble,

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Speaker 1: though it has clambered back and this year it's up slightly.

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Speaker 1: In after hours training this morning, and Video's share price

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Speaker 1: rose four percent. The company said. The big unknown, however,

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Speaker 1: remains the impact of tariffs. That's it for the afternoon

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Speaker 1: report for Thursday, the twenty seventh of February twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast. We'll be

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Speaker 1: back tomorrow morning with the Friday edition of Peer and

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Speaker 1: Greed Business News. I'm Seane Elmer. Enjoy your evening.