1 00:00:03,600 --> 00:00:06,800 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Tuesday, 2 00:00:06,840 --> 00:00:09,760 Speaker 1: the twentieth of May twenty twenty five. I'm sure, alma, 3 00:00:09,880 --> 00:00:12,399 Speaker 1: every afternoon we've got the five stories that happened today 4 00:00:12,440 --> 00:00:14,040 Speaker 1: that you need to know about. Story ONUM one. The 5 00:00:14,040 --> 00:00:16,880 Speaker 1: Reserve Bank of Australia cut the official cash rate by 6 00:00:16,920 --> 00:00:19,840 Speaker 1: twenty five bases points this afternoon and left the door 7 00:00:19,880 --> 00:00:22,319 Speaker 1: open for further rate cuts later in the year. The 8 00:00:22,400 --> 00:00:26,320 Speaker 1: central Bank said inflation is returning to target and it's 9 00:00:26,400 --> 00:00:30,160 Speaker 1: concerned about the sluggish pickup in household activity that gives 10 00:00:30,160 --> 00:00:33,239 Speaker 1: it confidence to cut rates. The AX rose after the 11 00:00:33,240 --> 00:00:36,600 Speaker 1: early afternoon announcement and finished up zero point six percent 12 00:00:36,640 --> 00:00:39,519 Speaker 1: to eighty three hundred and forty three points. Tech stocks 13 00:00:39,560 --> 00:00:42,520 Speaker 1: and real estate Investment Trust did best. Both the seect 14 00:00:42,520 --> 00:00:45,159 Speaker 1: as sensitive to interest rate changes. Come Off Bank hit 15 00:00:45,200 --> 00:00:47,080 Speaker 1: a new record of just under one hundred and seventy 16 00:00:47,080 --> 00:00:49,960 Speaker 1: three dollars and fifty cents a share, though it finished 17 00:00:50,159 --> 00:00:53,080 Speaker 1: a little lower than that. Strong performance today include CSL 18 00:00:53,400 --> 00:00:57,080 Speaker 1: National Australia Bank and ed mcquarie Group, Goodman Tolstra, Sigma Healthcare, 19 00:00:57,080 --> 00:00:59,320 Speaker 1: and Weis Tech Global. On the other side of the 20 00:00:59,360 --> 00:01:03,080 Speaker 1: ledger BA HP Fortescue Metals Group, Woodside and Aristocrat Leisure 21 00:01:03,080 --> 00:01:06,000 Speaker 1: at The Aussie dollar felt slightly after the Reserve Bank announcement, 22 00:01:06,040 --> 00:01:09,160 Speaker 1: while ten year by Nils eased storry. Number two Australian 23 00:01:09,200 --> 00:01:13,240 Speaker 1: Super has reinvested in the country's largest coal producer, white 24 00:01:13,280 --> 00:01:16,720 Speaker 1: Haven Coal, and says it is consistent with its commitment 25 00:01:16,800 --> 00:01:21,440 Speaker 1: to net zero emissions by twenty fifty. Environmental activists disagree, 26 00:01:21,840 --> 00:01:24,040 Speaker 1: labeling it as an insult to the funds three and 27 00:01:24,040 --> 00:01:27,440 Speaker 1: a half million members. According to The Financial Review last week, 28 00:01:27,440 --> 00:01:30,559 Speaker 1: Australian Super bought one point three million shares in white Haven, 29 00:01:31,040 --> 00:01:34,160 Speaker 1: just days before three climate related investment groups, of which 30 00:01:34,200 --> 00:01:37,600 Speaker 1: Australian Souper is a member, declared they'd put more pressure 31 00:01:37,600 --> 00:01:41,520 Speaker 1: on listed companies to decarbonize. Sorry. Number three software group 32 00:01:41,560 --> 00:01:43,880 Speaker 1: Technology one had a Good Day said it will pay 33 00:01:43,880 --> 00:01:46,880 Speaker 1: out a record dividend after reporting a thirty percent jump 34 00:01:46,920 --> 00:01:50,559 Speaker 1: in net profit. Share price as a result jumped twelve percent. 35 00:01:50,880 --> 00:01:54,320 Speaker 1: The Brisbane based company also upgraded its full year profit guidance. 36 00:01:54,640 --> 00:01:56,720 Speaker 1: Its share price has doubled in the last year. It's 37 00:01:56,760 --> 00:02:00,480 Speaker 1: trading around an all time high. Technology One produces business 38 00:02:00,520 --> 00:02:04,440 Speaker 1: management software used by a bunch of people, including government departments, 39 00:02:04,760 --> 00:02:09,240 Speaker 1: local councils and universities. Sorry before. In other corporatenews, Coguan 40 00:02:09,280 --> 00:02:12,920 Speaker 1: dot Com slumped after telling investors it did not expect 41 00:02:12,960 --> 00:02:16,520 Speaker 1: its online business, Mighty Ape, to return to profitability until 42 00:02:16,520 --> 00:02:20,560 Speaker 1: twenty twenty six following a problematic web platform upgrade. Also, 43 00:02:20,639 --> 00:02:23,480 Speaker 1: New Zealand based insurer Tower jumped after reporting more than 44 00:02:23,520 --> 00:02:26,560 Speaker 1: fifty percent rise in half year profit in the March 45 00:02:26,600 --> 00:02:29,799 Speaker 1: half and diversified minus pau thirty two rows four percent 46 00:02:30,120 --> 00:02:33,160 Speaker 1: after revealing new twenty twenty five twenty six forecasts to 47 00:02:33,200 --> 00:02:37,120 Speaker 1: account for lower alumina prices. Finally, story number five, Donald 48 00:02:37,160 --> 00:02:42,040 Speaker 1: Trump says Russia and Ukraine will immediately begin negotiations on 49 00:02:42,160 --> 00:02:45,520 Speaker 1: preparations for peace talks, but he's leaving Moscow and Kiev 50 00:02:45,560 --> 00:02:47,720 Speaker 1: to reach a deal without the US as a broker. 51 00:02:48,160 --> 00:02:51,519 Speaker 1: After phone calls with Russian President Vladimir Putin and Ukraine's 52 00:02:51,560 --> 00:02:55,959 Speaker 1: president Vladimir Zelenski, Trump posted that and I quote, Russia 53 00:02:56,000 --> 00:03:00,520 Speaker 1: and Ukraine will immediately start negotiations towards ceasefire and more importantly, 54 00:03:00,960 --> 00:03:03,720 Speaker 1: and end to the war. Putin was more tentative. He 55 00:03:03,800 --> 00:03:06,880 Speaker 1: offered no substantive change in the Kremlin stance. He said 56 00:03:07,000 --> 00:03:10,440 Speaker 1: Russia is ready to work with Kiev on a memorandum 57 00:03:10,480 --> 00:03:14,160 Speaker 1: to frame future talks, which might include a ceasefire for 58 00:03:14,200 --> 00:03:18,200 Speaker 1: a certain amount of time plentific caveats their Zelenski asked 59 00:03:18,200 --> 00:03:21,240 Speaker 1: the US leader to not distance himself from efforts to 60 00:03:21,240 --> 00:03:23,760 Speaker 1: secure peace. He said the only one that benefits from 61 00:03:23,760 --> 00:03:27,080 Speaker 1: that is Putin. Trump also said that the Vatican would 62 00:03:27,080 --> 00:03:30,000 Speaker 1: be very interested in hosting future talks. That's it for 63 00:03:30,000 --> 00:03:32,520 Speaker 1: the afternoon report for Tuesday, the twentieth of May twenty 64 00:03:32,560 --> 00:03:34,600 Speaker 1: twenty five. Make sure you hit follow on the podcast. 65 00:03:34,840 --> 00:03:36,839 Speaker 1: We will be back tomorrow morning with a Wednesday edition 66 00:03:36,920 --> 00:03:39,000 Speaker 1: off your and greet business stand News. I'm John Elma. 67 00:03:39,440 --> 00:03:40,120 Speaker 1: Enjoy your evening.