1 00:00:03,680 --> 00:00:06,880 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Wednesday, 2 00:00:06,920 --> 00:00:09,440 Speaker 1: the sixth of August twenty twenty five. I'm sure Aylmer. 3 00:00:09,760 --> 00:00:12,200 Speaker 1: Every afternoon, we've got the five stories that happened today 4 00:00:12,200 --> 00:00:13,880 Speaker 1: that you need to know about. Straight Number one, the 5 00:00:13,960 --> 00:00:17,759 Speaker 1: SMPASX two hundred finished up nearly one percent today to 6 00:00:17,880 --> 00:00:21,640 Speaker 1: eighty eight hundred and forty four points. That is an 7 00:00:21,640 --> 00:00:25,079 Speaker 1: all time high. Confidence in local economic growth and hopes 8 00:00:25,200 --> 00:00:28,120 Speaker 1: of rate cuts are pushing the boss along. All the 9 00:00:28,120 --> 00:00:30,480 Speaker 1: big banks did well today, as did the tech stocks. 10 00:00:30,520 --> 00:00:34,159 Speaker 1: Best were interest rates sensitive companies like Wes Farmers and 11 00:00:34,200 --> 00:00:37,680 Speaker 1: Goodman Group. Fores Kew Medals was also higher, as were Woodside, 12 00:00:37,760 --> 00:00:42,479 Speaker 1: QB and Promedicus. Among the large caps, Telstra, Woollies and Transurban, 13 00:00:42,600 --> 00:00:46,960 Speaker 1: all defensive stocks were among the underperformers. Story number two. 14 00:00:47,000 --> 00:00:50,959 Speaker 1: Online property group Aria and Dow Jones drove higher revenue 15 00:00:51,000 --> 00:00:53,400 Speaker 1: and earnings for news Corp for the June half year, 16 00:00:53,800 --> 00:00:57,520 Speaker 1: sending its share price up six percent. Pretax earnings jumped 17 00:00:57,600 --> 00:01:01,080 Speaker 1: fourteen percent to one point four or billion US dollars 18 00:01:01,120 --> 00:01:04,280 Speaker 1: for news Corp. NewsCorp holds a controlling interest in Aria, 19 00:01:04,400 --> 00:01:06,320 Speaker 1: which owns the real estate dot com Dot, a U 20 00:01:06,440 --> 00:01:09,720 Speaker 1: property portal. It also owns Dow Jones, book publisher Harper 21 00:01:09,720 --> 00:01:13,200 Speaker 1: Collins and news outlets including The Australian, The Sun and 22 00:01:13,240 --> 00:01:15,479 Speaker 1: The Times in the United Kingdom and The New York 23 00:01:15,520 --> 00:01:17,679 Speaker 1: Post in the US. Earlier in the year, it sold 24 00:01:17,720 --> 00:01:21,880 Speaker 1: its take in Foxtel to global sports streaming service Dance. 25 00:01:22,680 --> 00:01:25,840 Speaker 1: Earnings were down at both Harper Collins and its news divisions, 26 00:01:26,000 --> 00:01:29,520 Speaker 1: offset by double digit rises in Dow Jones and Ria. 27 00:01:30,240 --> 00:01:32,920 Speaker 1: Story number three. Treasure Jim Chalmers has said he would 28 00:01:32,920 --> 00:01:35,679 Speaker 1: be shocked if housing reform isn't a big part of 29 00:01:35,680 --> 00:01:38,800 Speaker 1: the government's upcoming productivity roundtable. He said there's a lot 30 00:01:38,800 --> 00:01:40,760 Speaker 1: of goodwill and a lot of commitment and tens of 31 00:01:40,800 --> 00:01:44,400 Speaker 1: billions of dollars are flowing into that sector. Doc Chalmers 32 00:01:44,440 --> 00:01:48,000 Speaker 1: also said Prime Minister Anthony Albernizi's call with French President 33 00:01:48,120 --> 00:01:52,720 Speaker 1: Emmanuel mccron overnight was an important part in Australia's recognition 34 00:01:53,000 --> 00:01:56,640 Speaker 1: of a Palestinian state. Story number four in Corporate News. 35 00:01:56,840 --> 00:02:00,640 Speaker 1: Lindian Resources jumped nearly forty percent today after entered into 36 00:02:00,720 --> 00:02:02,760 Speaker 1: a deal with hi Luka for the long term supply 37 00:02:02,800 --> 00:02:06,440 Speaker 1: of rare Earth's concentrate Pinnacle Investment Management rallied nearly ten 38 00:02:06,440 --> 00:02:09,639 Speaker 1: percent after the five point two billion dollar investment firm 39 00:02:09,680 --> 00:02:12,840 Speaker 1: reported a forty nine percent jump in full un net profit. 40 00:02:13,160 --> 00:02:15,640 Speaker 1: And Supreme Court of New South Wales has approved the 41 00:02:15,840 --> 00:02:19,160 Speaker 1: takeover of domain by US based CoA staff RAS scheme 42 00:02:19,200 --> 00:02:23,040 Speaker 1: of arrangement. Trading in domain shares will be suspended the 43 00:02:23,040 --> 00:02:27,560 Speaker 1: close of play tomorrow. Finally, story number five, US trade 44 00:02:27,560 --> 00:02:30,680 Speaker 1: tariffs on pharmaceutical and semiconductor inputs are set to be 45 00:02:30,720 --> 00:02:34,320 Speaker 1: announced within the week or so. According to President Donald Trump. 46 00:02:34,480 --> 00:02:37,440 Speaker 1: Trump said the US would initially place a small tariff 47 00:02:37,480 --> 00:02:41,480 Speaker 1: on pharmaceutical inputs before raising further. I quote him, in 48 00:02:41,520 --> 00:02:44,000 Speaker 1: one year, one and a half years, maximum it's going 49 00:02:44,040 --> 00:02:46,280 Speaker 1: to be one hundred and fifty percent, and then it's 50 00:02:46,320 --> 00:02:48,399 Speaker 1: going to be two hundred and fifty percent, because we 51 00:02:48,440 --> 00:02:52,080 Speaker 1: want pharmaceuticals made in our country. Quote. Nearly nine percent 52 00:02:52,120 --> 00:02:55,239 Speaker 1: of US by our tech companies rely on imported components 53 00:02:55,440 --> 00:02:58,320 Speaker 1: for at least half of their approved products. According to 54 00:02:58,360 --> 00:03:02,320 Speaker 1: the Biotechnology Innovation organ Australia exports more than two billion 55 00:03:02,360 --> 00:03:05,840 Speaker 1: dollars worth of pharmaceuticals to years the US. Now Australian steel, 56 00:03:05,880 --> 00:03:11,239 Speaker 1: aluminium and copper producers continue to face industry specific tariffs 57 00:03:11,320 --> 00:03:14,080 Speaker 1: up to fifty percent under the Trump government. Looks like 58 00:03:14,160 --> 00:03:17,519 Speaker 1: Farmer could get caught up under that as well. That's 59 00:03:17,560 --> 00:03:19,720 Speaker 1: it for the afternoon report for Wednesday, the sixth of 60 00:03:19,760 --> 00:03:22,320 Speaker 1: August twenty twenty five. Make sure you follow on the podcast. 61 00:03:22,560 --> 00:03:24,720 Speaker 1: We will be back tomorrow morning with a first ambition 62 00:03:24,760 --> 00:03:27,440 Speaker 1: of fear and Greed business news. I'm Jane Elmer. Enjoy 63 00:03:27,480 --> 00:03:27,959 Speaker 1: your evening.