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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Monday, the tenth of March twenty twenty five. I'm

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Speaker 1: suan Alma. Every afternoon, We've got the five stories that

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Speaker 1: happen today that you need to know about. Story number one.

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Speaker 1: Flooding continues in southern Queensland and northern New South Wales

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Speaker 1: and more than two hundred thousand homes in the region

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Speaker 1: remain without power. There are a number of major flood

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Speaker 1: warnings still in place and schools were closed today. The

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Speaker 1: federal and Queensland governments announced a personal hardship scheme to

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Speaker 1: help residents affected by ex tropical cyclone Alfred. The hardship

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Speaker 1: assistance is on top of the disaster Recovery allowance that

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Speaker 1: allows those who have lost work to access payments which

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Speaker 1: are about the same amount as job seeker for up

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Speaker 1: to thirteen weeks. Prime Minister Anthony Alberizi this morning said

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Speaker 1: the government will hold insurance companies to account. Story number two.

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Speaker 1: US President Donald Trump has had a crack at former

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Speaker 1: Prime Minister Malcolm Turnbull, saying he led Australia from behind,

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Speaker 1: never understood what was going on in China, nor did

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Speaker 1: he have the capacity to do so. Writing on Truth

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Speaker 1: Social he said mister Turnbull was a weak and ineffective leader.

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Speaker 1: Why did he say this, Well, mister Turnbull had just

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Speaker 1: appeared on Bloomberg Television in the US speaking about tariffs.

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Speaker 1: He said Trump's on again, off again tariff threats were

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Speaker 1: bad for business and could drive the US into recession.

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Speaker 1: Mister Turble added that mister Trump is playing into China's hands.

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Speaker 1: Story Number three. The local sher market finished up zero

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Speaker 1: point two percent today to seven nine hundred and sixty

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Speaker 1: two points. Best of the large caps were the resources

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Speaker 1: companies Rio Tinto and Woodside, for example. They were standouts.

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Speaker 1: Goodman Group was another well performed stock today. Worst of

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Speaker 1: the large caps CSL, which went ext evedend straight. Number four.

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Speaker 1: The alb and Easy government continues to lobby Washington hoping

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Speaker 1: for last minute exemption on steel and aluminium tariffs. Levies

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Speaker 1: of twenty five percent on the commodities are due to

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Speaker 1: kick in on Wednesday. But as we found out last week,

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Speaker 1: when it comes to tariffs, for example on Canada and Mexico,

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Speaker 1: the show is never over until Donald Trump has made

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Speaker 1: his final pronouncement. Even then, it's not really over. Today

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Speaker 1: Prime Minister Anthony Albaneze. He said he'd spoken to Australian

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Speaker 1: steel companies and he hopes to continue to engage constructively

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Speaker 1: with the US. And story number five. For the first time,

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Speaker 1: Donald Trump hasn't ruled out a recession in the US,

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Speaker 1: conceding there could be a rough patch coming for the

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Speaker 1: world's biggest economy. It's a total turnaround from the cheerleading

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Speaker 1: ever since he's inauguration, the recent slump on Wall Street

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Speaker 1: it's down six percent since its speak in February, and

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Speaker 1: he said he had to do what's right even if

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Speaker 1: the stock market doesn't like it. It's significant that Trump

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Speaker 1: is talking this way. He came to power claiming years

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Speaker 1: of inflation under Joe Biden he could fix that. Not

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Speaker 1: quite true. Inflation in the past twelve months was actually

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Speaker 1: pretty good, but obviously his policies are now affecting the market.

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Speaker 1: That's it for the Afternoon Report for Monday, the tenth

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Speaker 1: of March twenty twenty five. I make sure you hit

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Speaker 1: follow on the podcast. We will be back tomorrow morning

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Speaker 1: with the Tuesday edition off your and Green business News.

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Speaker 1: I'm sure I Alma enjoy reading