1 00:00:03,480 --> 00:00:06,680 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Thursday, 2 00:00:06,760 --> 00:00:09,680 Speaker 1: the thirty first of July twenty twenty five. I'm sure, alma, 3 00:00:09,840 --> 00:00:12,280 Speaker 1: every afternoon we've got the five stories that happened today 4 00:00:12,280 --> 00:00:14,319 Speaker 1: that you need to know about. Storry number one. The 5 00:00:14,440 --> 00:00:17,320 Speaker 1: S and PASX two hundred closed down just touch today 6 00:00:17,360 --> 00:00:20,680 Speaker 1: to eighty seven hundred and forty three points. You surge 7 00:00:20,720 --> 00:00:24,400 Speaker 1: in US techdocs thanks to very good results from Meta 8 00:00:24,440 --> 00:00:28,280 Speaker 1: and Microsoft, helped the local sector worst performers with the 9 00:00:28,280 --> 00:00:30,880 Speaker 1: big miners with BAGP down almost two and a half percent. 10 00:00:30,920 --> 00:00:33,120 Speaker 1: The banks were high, the retailers were mixed, and Telstra 11 00:00:33,360 --> 00:00:36,040 Speaker 1: was lower. Fair bit of corporate news around at the moment. 12 00:00:36,120 --> 00:00:39,760 Speaker 1: Flight Center fell nearly seven percent after it downgraded its 13 00:00:39,800 --> 00:00:42,879 Speaker 1: pre tax profit forecast for the last financial year. It 14 00:00:42,960 --> 00:00:47,160 Speaker 1: blamed growing Middle East tensions, difficult travel conditions in the US, 15 00:00:47,200 --> 00:00:51,120 Speaker 1: and extra costs in Asia. Michael Hill International, the jeweler, 16 00:00:51,240 --> 00:00:56,040 Speaker 1: reported flat annual sales and steady earnings. Agell Energy rose 17 00:00:56,080 --> 00:00:58,000 Speaker 1: after it said it would begin construction of a five 18 00:00:58,080 --> 00:01:02,400 Speaker 1: hundred megawa four hour duration grid scale battery later this year. 19 00:01:02,800 --> 00:01:06,520 Speaker 1: Origin Energy said it expects LNG production in the region 20 00:01:06,560 --> 00:01:09,199 Speaker 1: to be lower than forecasts. Beach Energy tumble nine percent 21 00:01:09,720 --> 00:01:14,360 Speaker 1: after it downgraded its profit forecast, and scrap group sim 22 00:01:14,480 --> 00:01:17,880 Speaker 1: signed an agreement to splay five hundred and fifty thousand 23 00:01:18,000 --> 00:01:22,119 Speaker 1: tons that's a lot of scrap metal to a proposed 24 00:01:22,240 --> 00:01:25,680 Speaker 1: mill to be built by privately owned company in industrial Brisbane. 25 00:01:25,840 --> 00:01:28,920 Speaker 1: Story number two. Australia is undergrowing pressure to recognize a 26 00:01:29,000 --> 00:01:32,920 Speaker 1: Palestinian state at the UN General Assembly next month, after 27 00:01:32,959 --> 00:01:35,800 Speaker 1: Canada joined France and Britain in saying it would do 28 00:01:35,880 --> 00:01:38,759 Speaker 1: say Prime Minister Anthony Albanez, he spoke with UK Prime 29 00:01:38,760 --> 00:01:43,280 Speaker 1: Minister Keir Starmer about the importance of international momentum on 30 00:01:43,319 --> 00:01:46,800 Speaker 1: the Israel Gaza war and phone call overnight. It's the 31 00:01:46,920 --> 00:01:49,480 Speaker 1: second conversation between the two pair, and two days after 32 00:01:49,480 --> 00:01:52,440 Speaker 1: the UK said it would recognize a state of Palestine 33 00:01:52,720 --> 00:01:56,200 Speaker 1: unless Israel met key conditions. Treasure Jim Chalmas later in 34 00:01:56,200 --> 00:02:00,480 Speaker 1: the day said he welcomes the momentum on Palestinian statehood. Meanwhile, 35 00:02:00,560 --> 00:02:03,960 Speaker 1: Labour's sixteen billion dollar student debt cut past the Senate, 36 00:02:04,440 --> 00:02:06,760 Speaker 1: marking the first bill to become law in the new 37 00:02:06,840 --> 00:02:09,639 Speaker 1: term of parliament. Straight number three Rare Tintael has cut 38 00:02:09,680 --> 00:02:12,440 Speaker 1: its dividend after announcing a seventeen percent full the net 39 00:02:12,480 --> 00:02:15,920 Speaker 1: profit to just under five billion US dollars for the 40 00:02:15,919 --> 00:02:18,480 Speaker 1: first half of twenty twenty five. However, the group says 41 00:02:18,520 --> 00:02:21,080 Speaker 1: it will deliver mid term production growth amid a lower 42 00:02:21,120 --> 00:02:24,400 Speaker 1: iron ore prices. The result and the sixteen percent drop 43 00:02:24,520 --> 00:02:28,280 Speaker 1: in dividend largely reflects lower iron ore prices. Its copper 44 00:02:28,320 --> 00:02:31,760 Speaker 1: and aluminium business has made greater contributions to the bottom line. 45 00:02:31,880 --> 00:02:35,040 Speaker 1: Outgoing boss at Yakubstou's home, whose tenure is cut short 46 00:02:35,080 --> 00:02:39,000 Speaker 1: by his board, issued a plea for competitive energy pricing. 47 00:02:39,200 --> 00:02:41,880 Speaker 1: REO share price closed down three percent straight umer Four 48 00:02:41,960 --> 00:02:44,160 Speaker 1: local companies have been caught up in a decision by 49 00:02:44,200 --> 00:02:47,919 Speaker 1: Donald Trump to suspend the duty free threshold for low 50 00:02:48,000 --> 00:02:51,400 Speaker 1: value of goods entering the US, with online retailers hit hard. 51 00:02:51,800 --> 00:02:54,920 Speaker 1: A Donald Trump executive order means that shipments worth under 52 00:02:54,960 --> 00:02:58,760 Speaker 1: eight hundred US dollars that's about twelve hundred ozsie will 53 00:02:58,800 --> 00:03:01,880 Speaker 1: be subject to duties on importation to the United States, 54 00:03:01,880 --> 00:03:06,040 Speaker 1: regardless of where they're manufactured. Our previous rules only put 55 00:03:06,280 --> 00:03:10,880 Speaker 1: imposts on products from four countries that spread to all countries, 56 00:03:10,880 --> 00:03:14,160 Speaker 1: including Australia. The US accounts for about forty percent of 57 00:03:14,200 --> 00:03:18,600 Speaker 1: local online retailer satires revenues. The announcement sent its share 58 00:03:18,600 --> 00:03:22,120 Speaker 1: price down twenty three percent today and story number five. 59 00:03:22,160 --> 00:03:24,680 Speaker 1: There's been a frantic rush to sign trade deals with 60 00:03:24,720 --> 00:03:29,080 Speaker 1: the US ahead of tomorrow's deadline, with delegations from Canada 61 00:03:29,120 --> 00:03:31,840 Speaker 1: and Mexico hoping for a last minute agreement. As the 62 00:03:31,840 --> 00:03:36,040 Speaker 1: deadline near'st Trump signaled late progress with key training partners. 63 00:03:36,080 --> 00:03:38,800 Speaker 1: He also announced to deal with South Korea, saying he 64 00:03:38,880 --> 00:03:42,520 Speaker 1: would hold last minute talks with India as well. Just 65 00:03:42,720 --> 00:03:46,279 Speaker 1: hours after he announced twenty five percent tariff with India. 66 00:03:46,360 --> 00:03:49,320 Speaker 1: Who knows. Trump warned other training partners he would not 67 00:03:49,400 --> 00:03:52,600 Speaker 1: back away from the sweet being tariff regime. He's threatened 68 00:03:52,640 --> 00:03:55,839 Speaker 1: on countries that do not reach an agreement by his deadline. 69 00:03:55,960 --> 00:03:59,600 Speaker 1: I quote him, the August first deadline is the August 70 00:03:59,680 --> 00:04:02,960 Speaker 1: first deadline. It stands strong and will not be extended. 71 00:04:03,200 --> 00:04:05,800 Speaker 1: A big day for America. Australia is expected to be 72 00:04:05,840 --> 00:04:08,240 Speaker 1: hit with a fifteen to twenty percent tariff. That's it 73 00:04:08,280 --> 00:04:10,840 Speaker 1: for the afternoon Report for Thursday, the thirty first of 74 00:04:10,920 --> 00:04:12,960 Speaker 1: July twenty twenty five. Make sure you hit follow on 75 00:04:13,000 --> 00:04:15,080 Speaker 1: the podcast. We will be back tomorrow morning with a 76 00:04:15,120 --> 00:04:17,839 Speaker 1: Friday edition I fear in great business news. I'm sure I, Alma, 77 00:04:18,240 --> 00:04:18,880 Speaker 1: enjoy your reaping.