1 00:00:04,120 --> 00:00:06,920 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,960 --> 00:00:09,640 Speaker 1: for Tuesday, the twenty fifth of February twenty twenty five. 3 00:00:09,680 --> 00:00:12,760 Speaker 1: I'm Sean Almer. Every afternoon, we've got the five stories 4 00:00:12,800 --> 00:00:15,120 Speaker 1: that happened today that you really do need to know about. 5 00:00:15,160 --> 00:00:18,640 Speaker 1: Story number one, there's some PASX two hundred closed down 6 00:00:19,160 --> 00:00:22,600 Speaker 1: about zero point seven percent to eighty two hundred and 7 00:00:22,600 --> 00:00:27,120 Speaker 1: fifty two points. Utilities did well, consumer discretionary not so well. 8 00:00:27,360 --> 00:00:30,840 Speaker 1: The big banks and miners all fell. In corporate news, 9 00:00:31,080 --> 00:00:35,519 Speaker 1: jones Lin Group its share price tumbled thirty four percent 10 00:00:36,080 --> 00:00:39,040 Speaker 1: after the group downgraded its twenty twenty five earnings guidance 11 00:00:39,080 --> 00:00:41,760 Speaker 1: owing his slower than expected progress on its new South 12 00:00:41,800 --> 00:00:47,040 Speaker 1: Wales and US based projects. Scrap metal recyclist SIMS rose 13 00:00:47,120 --> 00:00:49,720 Speaker 1: after underlying earning sword in the first half, having to 14 00:00:49,760 --> 00:00:52,640 Speaker 1: improve operating performance from its North American metal and life 15 00:00:52,640 --> 00:00:56,840 Speaker 1: cycle services businesses. Story number two, Air traffic authorities only 16 00:00:56,880 --> 00:01:01,640 Speaker 1: discovered Chinese warships. We're conducting a live fire exercise and 17 00:01:01,640 --> 00:01:05,080 Speaker 1: then Tasman straight thirty minutes after it began, thanks to 18 00:01:05,120 --> 00:01:07,559 Speaker 1: an alert by a Virgin pilot rather than a warning 19 00:01:07,640 --> 00:01:12,679 Speaker 1: from government officials. Air Services Australia officials told Senate Estimates 20 00:01:12,720 --> 00:01:16,039 Speaker 1: today that forty nine flights were forced to divert their 21 00:01:16,080 --> 00:01:19,480 Speaker 1: flight plans because of the exercise late last week. The 22 00:01:19,520 --> 00:01:22,760 Speaker 1: incident marked the latest challenge to the government's efforts to 23 00:01:22,880 --> 00:01:26,479 Speaker 1: stabilize relations with China, with a federal opposition and national 24 00:01:26,480 --> 00:01:30,880 Speaker 1: security experts branding it a provocative act that deserves condemnation. 25 00:01:31,319 --> 00:01:34,600 Speaker 1: The exercises were conducted approximately six hundred and forty kilometers 26 00:01:34,600 --> 00:01:38,200 Speaker 1: off the New South Wales South coast on Friday in 27 00:01:38,240 --> 00:01:42,160 Speaker 1: international waters. Air Services Australia Chief Executive Rob Sharp told 28 00:01:42,240 --> 00:01:45,959 Speaker 1: Estimates that Virgin Australia was advising that a foreign warship 29 00:01:46,040 --> 00:01:50,240 Speaker 1: was broadcasting that they were conducting live firing three hundred 30 00:01:50,320 --> 00:01:53,640 Speaker 1: utical miles east of our coast and that's why he 31 00:01:53,680 --> 00:01:56,880 Speaker 1: found out about it, storroying number three. Nine Entertainments earnings 32 00:01:56,880 --> 00:01:59,160 Speaker 1: fell twenty nine percent for the first half as weaker 33 00:01:59,200 --> 00:02:02,760 Speaker 1: economic and advert tising conditions and a loss of revenue 34 00:02:02,800 --> 00:02:06,000 Speaker 1: from Meta weighed on the bottom line. The drop came 35 00:02:06,040 --> 00:02:10,000 Speaker 1: despite a bigger contribution from real estate platform Domain. In 36 00:02:10,080 --> 00:02:13,400 Speaker 1: a statement, Nine said Domain continues to be a key 37 00:02:13,440 --> 00:02:17,960 Speaker 1: part of nine's media ecosystem. In long term growth strategy. Later, 38 00:02:18,000 --> 00:02:22,360 Speaker 1: acting CEO Matt Stanton wouldn't be drawn on US Group 39 00:02:22,400 --> 00:02:26,240 Speaker 1: co stars two point seven billion dollar bid for domain 40 00:02:27,120 --> 00:02:30,000 Speaker 1: Story number four. Lower oil and gas prices has hit 41 00:02:30,240 --> 00:02:34,120 Speaker 1: Woodside Energy's bottom line, but Chief executive Mega O'Neill said 42 00:02:34,120 --> 00:02:36,840 Speaker 1: good progress is being made in new ventures in Western 43 00:02:36,880 --> 00:02:39,760 Speaker 1: Australia and the United States. Underlying profit for the twelve 44 00:02:39,800 --> 00:02:42,280 Speaker 1: months to the end of December was four and a 45 00:02:42,280 --> 00:02:45,919 Speaker 1: half billion dollars that sent Woodside's share price up three percent. 46 00:02:46,280 --> 00:02:49,680 Speaker 1: Miss O'Neill said Woodside's at large Scarborough Gas project in 47 00:02:49,840 --> 00:02:53,160 Speaker 1: WA is now eighty percent complete and remains on tractorship 48 00:02:53,160 --> 00:02:56,000 Speaker 1: its first cargo in twenty twenty six. The try On 49 00:02:56,080 --> 00:02:59,200 Speaker 1: offshore project in Mexico is more than twenty percent complete. 50 00:02:59,240 --> 00:03:02,200 Speaker 1: It's targeted for startup in twenty twenty eight. Woodside's also 51 00:03:02,240 --> 00:03:05,000 Speaker 1: pushing forward with its two large new projects in the 52 00:03:05,160 --> 00:03:09,840 Speaker 1: US Golf Coast and Sorry number five. Viva Energy reported 53 00:03:09,880 --> 00:03:13,520 Speaker 1: a twenty percent fall in net profit, sending its share 54 00:03:13,560 --> 00:03:17,320 Speaker 1: price down twenty five percent. That's quite the drop week 55 00:03:17,360 --> 00:03:20,919 Speaker 1: oil refinery margins, similarly to Ampole's results earlier in the week, 56 00:03:21,000 --> 00:03:23,800 Speaker 1: and a drop in discretionary spending has hit the group. 57 00:03:24,120 --> 00:03:28,080 Speaker 1: Last year, Viva bought OTR Group That's on the Run 58 00:03:28,120 --> 00:03:30,640 Speaker 1: Group for about one point two billion dollars, but the 59 00:03:30,680 --> 00:03:33,160 Speaker 1: cost of living crisis is hurting. People aren't using the 60 00:03:33,200 --> 00:03:36,360 Speaker 1: convenience of gas stations anywhere near as much as Viva 61 00:03:36,480 --> 00:03:40,520 Speaker 1: had hoped. Viva said it will rebrand Cole's Express stores 62 00:03:40,800 --> 00:03:44,000 Speaker 1: to run under the On the Run brand as it 63 00:03:44,040 --> 00:03:46,400 Speaker 1: for the Afternoon Report for Tuesday, the twenty fifth of 64 00:03:46,400 --> 00:03:48,520 Speaker 1: February twenty twenty five, make sure you hit follow on 65 00:03:48,520 --> 00:03:50,720 Speaker 1: the podcast and we'll be back tomorrow morning with the 66 00:03:50,760 --> 00:03:53,440 Speaker 1: Wednesday edition of the past five business news by Vera 67 00:03:53,480 --> 00:03:56,280 Speaker 1: and Breed. I'm Sean Elmer. Enjoy your evening.