1 00:00:03,560 --> 00:00:06,560 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,600 --> 00:00:09,480 Speaker 1: for Friday, the fifteenth of August twenty twenty five. Oh 3 00:00:09,480 --> 00:00:12,080 Speaker 1: Michael Thompson. Every afternoon, we've got the five stories that 4 00:00:12,119 --> 00:00:14,360 Speaker 1: happened today that you need to know about. Let's go 5 00:00:14,400 --> 00:00:17,760 Speaker 1: story number one. A stellar week really on the local 6 00:00:17,760 --> 00:00:20,919 Speaker 1: share market. Every single day this week has seen a 7 00:00:20,960 --> 00:00:23,720 Speaker 1: new record set, and this afternoon there was a record 8 00:00:23,800 --> 00:00:27,360 Speaker 1: closing high of eighty nine hundred and thirty nine points. 9 00:00:27,560 --> 00:00:30,400 Speaker 1: That's up zero point seven percent today and one point 10 00:00:30,440 --> 00:00:34,120 Speaker 1: five percent for the week. Financials worthy strongest today. All 11 00:00:34,200 --> 00:00:37,160 Speaker 1: of the Big four climbed, even Comwealth Bank up zero 12 00:00:37,159 --> 00:00:39,440 Speaker 1: point six percent after losing ground for the last couple 13 00:00:39,479 --> 00:00:42,320 Speaker 1: of days. Westpac had another cracker of a day, up 14 00:00:42,360 --> 00:00:45,040 Speaker 1: another two point one percent after its soared yesterday off 15 00:00:45,080 --> 00:00:47,600 Speaker 1: the back of its earnings results. Outside of the bank's 16 00:00:47,680 --> 00:00:51,200 Speaker 1: ampoll climbed seven point seven percent. Investors like the deal 17 00:00:51,360 --> 00:00:54,279 Speaker 1: to buy EG Groups service stations for one point one 18 00:00:54,320 --> 00:00:56,840 Speaker 1: billion dollars. I told you about that one yesterday and 19 00:00:57,000 --> 00:01:00,160 Speaker 1: hearing implanned group. Cochlear rose one percent on the back 20 00:01:00,200 --> 00:01:03,400 Speaker 1: of its turnings results. Story number two is kind of 21 00:01:03,440 --> 00:01:06,920 Speaker 1: linked to story number one, shares in baby Bunting rocketed 22 00:01:07,120 --> 00:01:11,319 Speaker 1: more than forty percent today after a bumper earnings result, 23 00:01:11,319 --> 00:01:14,520 Speaker 1: sparking hopes that the three years share price slide might 24 00:01:14,640 --> 00:01:18,000 Speaker 1: finally be over. The baby goods retailer has really got 25 00:01:18,040 --> 00:01:21,280 Speaker 1: on the offensive, unveiling plans to double its store network 26 00:01:21,560 --> 00:01:25,520 Speaker 1: and chase a significant market across Australia and New Zealand. 27 00:01:25,560 --> 00:01:27,760 Speaker 1: The market is worth six point three billion dollars. The 28 00:01:27,840 --> 00:01:31,360 Speaker 1: goal is pretty straightforward, win more of parents spending on 29 00:01:31,400 --> 00:01:34,240 Speaker 1: everything from prams and car seats to clothes and toys 30 00:01:34,240 --> 00:01:37,080 Speaker 1: and nappies, and try and hold its ground against discount 31 00:01:37,080 --> 00:01:41,000 Speaker 1: department stores, but also against Amazon and eBay. It's branching 32 00:01:41,040 --> 00:01:44,440 Speaker 1: out beyond retail and newly created media arm as tipped 33 00:01:44,440 --> 00:01:47,319 Speaker 1: to deliver up to two percent of revenue, while same 34 00:01:47,400 --> 00:01:51,240 Speaker 1: day delivery via Uber is apparently proving popular with new 35 00:01:51,240 --> 00:01:55,240 Speaker 1: parents who want their baby purchases immediately and certainly aren't 36 00:01:55,240 --> 00:01:57,240 Speaker 1: going to drive to the shops to get it onto. 37 00:01:57,280 --> 00:02:01,000 Speaker 1: Story number three now, Anthony Albanezi is brushing off criticism 38 00:02:01,040 --> 00:02:04,920 Speaker 1: from Washington over his decision to recognize a Palestinian state, 39 00:02:05,080 --> 00:02:09,280 Speaker 1: even after US Ambassador to Israel, like Huckabee revealed quote 40 00:02:09,400 --> 00:02:13,800 Speaker 1: disgust and disappointment inside the Trump administration. The Prime Minister 41 00:02:13,919 --> 00:02:17,640 Speaker 1: says Huckabee represents the US in Israel, not Australia, and 42 00:02:17,639 --> 00:02:20,600 Speaker 1: that his job is to put Australia's interests first. He 43 00:02:20,720 --> 00:02:23,840 Speaker 1: told ABC Radio that Australians were horrified by the October 44 00:02:23,880 --> 00:02:26,400 Speaker 1: seven her mass attacks, but also by the tens of 45 00:02:26,440 --> 00:02:29,440 Speaker 1: thousands of deaths in Gaza, the starvation and the cues 46 00:02:29,480 --> 00:02:31,519 Speaker 1: for food and water. He said, and this is a 47 00:02:31,600 --> 00:02:35,680 Speaker 1: quote that provokes, not surprisingly a human reaction. He argues, 48 00:02:35,760 --> 00:02:39,080 Speaker 1: recognition is about momentum towards a two state solution and 49 00:02:39,120 --> 00:02:42,240 Speaker 1: follows similar moves by other countries, including France and Canada 50 00:02:42,280 --> 00:02:45,040 Speaker 1: and the UK. He also warned the media to be 51 00:02:45,120 --> 00:02:50,079 Speaker 1: wary of Hermas propaganda after conflicting statements emerged over the 52 00:02:50,160 --> 00:02:54,080 Speaker 1: last twenty four hours from the group about Australia's decision. 53 00:02:54,440 --> 00:02:57,720 Speaker 1: Story number four. Commonwealth Bank boss Matt Common has fired 54 00:02:57,800 --> 00:03:01,440 Speaker 1: back at a productivity commission proposed to slug the country's 55 00:03:01,440 --> 00:03:04,680 Speaker 1: biggest companies with a new tax, warning it could hurt 56 00:03:04,720 --> 00:03:07,960 Speaker 1: the very firms that keep the economy humming. Ahead of 57 00:03:08,000 --> 00:03:11,720 Speaker 1: next week's economic roundtable in Canberra, Matt Common has told 58 00:03:11,720 --> 00:03:14,280 Speaker 1: The Financial Review that the idea of a five percent 59 00:03:14,400 --> 00:03:17,640 Speaker 1: corporate cash flow tax on about five hundred large companies 60 00:03:17,800 --> 00:03:21,200 Speaker 1: would punish the most productive businesses and the biggest taxpayers. 61 00:03:21,480 --> 00:03:23,720 Speaker 1: The money would be used to fund a company tax 62 00:03:23,760 --> 00:03:26,560 Speaker 1: cut to twenty percent for small and medium sized businesses. 63 00:03:27,080 --> 00:03:30,520 Speaker 1: Common argument is essentially that big business matters. He points 64 00:03:30,560 --> 00:03:34,360 Speaker 1: out that the top twenty corporate taxpayers kicking fifty billion 65 00:03:34,400 --> 00:03:36,600 Speaker 1: dollars of the nation's one hundred and forty billion dollar 66 00:03:36,680 --> 00:03:39,400 Speaker 1: company tax take, and that workers at large firms are 67 00:03:39,400 --> 00:03:42,600 Speaker 1: more productive. The banks, miners and big retailers don't just 68 00:03:42,680 --> 00:03:46,840 Speaker 1: employ huge numbers of Australians, they pay a disproportionate share 69 00:03:47,040 --> 00:03:49,480 Speaker 1: of the tax bill. What all this means is that 70 00:03:49,600 --> 00:03:53,000 Speaker 1: next week's roundtable is going to be very interesting. Indeed, 71 00:03:53,480 --> 00:03:56,960 Speaker 1: story number five, speaking of important summits, these stages set 72 00:03:56,960 --> 00:04:01,120 Speaker 1: in Anchorage in Alaska for tomorrow's meeting between US President 73 00:04:01,120 --> 00:04:05,440 Speaker 1: Donald Trump and Russian President Vladimir Putin to discuss hopefully 74 00:04:05,640 --> 00:04:09,200 Speaker 1: ending the conflict in Ukraine. But Donald Trump is doing 75 00:04:09,200 --> 00:04:12,640 Speaker 1: his best to temper expectations. He's told reporters today that 76 00:04:12,800 --> 00:04:15,960 Speaker 1: quote this meeting sets up the second meeting. It's like 77 00:04:16,000 --> 00:04:19,360 Speaker 1: a chess game. That follow up meeting with Ukraine's Vladimir 78 00:04:19,480 --> 00:04:22,080 Speaker 1: Zelenski at the table is where quote, the give and 79 00:04:22,160 --> 00:04:25,320 Speaker 1: take would happen. He went on to say, and again 80 00:04:25,360 --> 00:04:27,960 Speaker 1: I quote, I don't want to use the word divvy 81 00:04:28,000 --> 00:04:30,520 Speaker 1: things up, but to a certain extent it's not a 82 00:04:30,560 --> 00:04:32,719 Speaker 1: bad term. He did, however, warn that there was a 83 00:04:32,760 --> 00:04:35,880 Speaker 1: one in four chance that the talks could fail, triggering 84 00:04:35,920 --> 00:04:39,520 Speaker 1: severe consequences. That's it for the afternoon report for Friday, 85 00:04:39,560 --> 00:04:41,800 Speaker 1: the fifteenth of August twenty twenty five. Make sure you 86 00:04:42,040 --> 00:04:44,359 Speaker 1: follow on the podcast and we'll be back tomorrow morning 87 00:04:44,400 --> 00:04:47,400 Speaker 1: with the weekend edition of Fear and Breed. I'm Michael Thompson. 88 00:04:47,600 --> 00:04:48,320 Speaker 1: Enjoy your evening.