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

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Speaker 1: for Friday, the fifteenth of August twenty twenty five.

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Speaker 2: Oh Michael Thompson.

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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. Let's go story number one.

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Speaker 1: A stellar week really on the local share market. Every

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Speaker 1: single day this week has seen a new record set,

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Speaker 1: and this afternoon it was a record closing high of

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Speaker 1: eighty nine hundred and thirty nine points. That's up zero

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Speaker 1: point seven percent today and one point five percent for

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Speaker 1: the week. Financials worthy strongest today. All of the Big

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Speaker 1: four climbed, even Commonwealth Bank up zero point six percent

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Speaker 1: after losing ground for the last couple of days. Westpac

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Speaker 1: had another cracker of a day, up another two point

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Speaker 1: one percent after its soared yesterday off the back of

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Speaker 1: its earnings results. Outside of the bank's ampoll climbed seven

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Speaker 1: point seven percent. Investors like the deal to buy EG

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Speaker 1: Groups service stations for one point one billion dollars. I

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Speaker 1: told you about that one yesterday and hearing implanned group.

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Speaker 1: Cochlear rose one percent on the back of its turnings results.

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Speaker 1: Story number two is kind of linked to story number one,

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Speaker 1: shares in baby Bunting rocketed more than forty percent today

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Speaker 1: after a bumper earnings result, sparking hopes that the three

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Speaker 1: years share price slide might finally be over. The baby

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Speaker 1: goods retailer has really got on the offensive, unveiling plans

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Speaker 1: to double its store network and chase a significant market

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Speaker 1: across Australia and New Zealand. The market is worth six

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Speaker 1: point three billion dollars. The goal is pretty straightforward, win

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Speaker 1: more of parents spending on everything from prams and car

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Speaker 1: seats to clothes and toys and nappies, and try and

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Speaker 1: hold its ground against discount department stores, but also against

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Speaker 1: Amazon and eBay. It's branching out beyond retail and newly

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Speaker 1: created media arm as tipped to deliver up to two

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Speaker 1: percent of revenue, while same day delivery via Uber is

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Speaker 1: apparently proving popular with new parents who want their baby

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Speaker 1: purchases immediately and certainly aren't going to drive to the

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Speaker 1: shops to get it onto. Story number three now, Anthony

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Speaker 1: Albanezi is brushing off criticism from Washington over his decision

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Speaker 1: to recognize a Palestinian state, even after US Ambassador to

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Speaker 1: Israel Mike Huckabee revealed quote disgust and disappointment inside the

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Speaker 1: Trump administration. The Prime Minister says Huckabee represents the US

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Speaker 1: in Israel, not Australia, and that his job is to

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Speaker 1: put Australia's interests first. He told ABC Radio that Australians

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Speaker 1: were horrified by the October seven her mass attacks, but

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Speaker 1: also by the tens of thousands of deaths in Gaza,

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Speaker 1: the starvation and the cues for food and water. He said,

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Speaker 1: and this is a quote that provokes, not surprisingly a

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Speaker 1: human reaction. He argues, recognition is about momentum towards a

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Speaker 1: two state solution and follows similar moves by other countries,

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Speaker 1: including France and Canada and the UK. He also warned

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Speaker 1: the media to be wary of hermass propaganda after conflicting

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Speaker 1: statements emerged over the last twenty four hours from the

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Speaker 1: group about Australia's decision.

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Speaker 2: Story number four. Commonwealth Bank boss Matt Common has fired

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Speaker 2: back at a Productivity Commision proposal to slug the country's

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Speaker 2: biggest companies with a new tax, warning it could hurt

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Speaker 2: the very firms that keep the economy humming. Ahead of

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Speaker 2: next week's economic roundtable in Canberra, Matt Common has told

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Speaker 2: The Financial Review that the idea of a five percent

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Speaker 2: corporate cash flow tax on about five hundred large companies

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Speaker 2: would punish the most productive businesses and the biggest taxpayers.

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Speaker 2: The money would be used to fund a company tax

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Speaker 2: cut to twenty percent for small and medium sized businesses.

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Speaker 2: Common argument is essentially that big business matters. He points

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Speaker 2: out that the top twenty corporate taxpayers kicking fifty billion

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Speaker 2: dollars of the nation's one hundred and forty billion dollar

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Speaker 2: company tax take, and the workers at large firms are

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Speaker 2: more productive. The banks, miners and big retailers don't just

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Speaker 2: employ huge numbers of Australians, they pay a disproportionate share

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Speaker 2: of the tax bill. What all this means is that

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Speaker 2: next week's roundtable is going to be very interesting. Indeed,

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Speaker 2: story number five, Speaking of important summits, these stages set

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Speaker 2: in Anchorage in Alaska for tomorrow meeting between US President

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Speaker 2: Donald Trump and Russian President Vladimir Putin to discuss hopefully

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Speaker 2: ending the conflict in Ukraine. But Donald Trump is doing

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Speaker 2: his best to temper expectations. He's told reporters today that

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Speaker 2: quote this meeting sets up the second meeting it's like

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Speaker 2: a chess game. That follow up meeting with Ukraine's Vladimir

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Speaker 2: Zelenski at the table is where quote, the give and

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Speaker 2: take would happen. He went on to say, and again

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Speaker 2: I quote, I don't want to use the word divvy

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Speaker 2: things up, but to a certain extent it's not a

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Speaker 2: bad term. He did, however, warn that there was a

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Speaker 2: one in four chance that the talks could fail, triggering

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Speaker 2: severe consequences. That's it for the afternoon report for Friday,

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Speaker 2: the fifteenth of August twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast and we'll

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

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Speaker 1: Fast five Business News by Fear and Greed.

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Speaker 2: I'm Michael Thompson.

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Speaker 1: Enjoy your evening.