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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 twentieth of June twenty twenty five. I'm

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Speaker 1: Adam Lang. Every afternoon, We've got the five stories that

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

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Speaker 1: The S and p ASX two hundred closed lower today,

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Speaker 1: dropping eighteen points to eighty five hundred and six. The

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Speaker 1: big four banks dipped a little, while health care had

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Speaker 1: a healthy gain. The bottom performing stocks were Clarity Pharmaceuticals

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Speaker 1: and Mineral Resources Limited, which were both down six percent,

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Speaker 1: and zip Co closed best for the day, zipping up

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Speaker 1: five point seven percent. The index has lost zero point

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Speaker 1: five percent for the last five days, and it is

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Speaker 1: up five point four percent so far this calendar year.

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Speaker 1: Story number two. Higher taxes on family trusts and electric

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Speaker 1: vehicle drivers are expected to be proposed by Treasury as

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Speaker 1: options for Jim Charmers to meet his objective of raising

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Speaker 1: revenue to pay for income tax cuts and bolster the

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Speaker 1: federal budget. And that's according to the Australian Financial Review.

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Speaker 1: Other revenue raising options to be presented to the Treasurer

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Speaker 1: by stakeholders ahead of the Productivity round Table in August

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Speaker 1: include winding back the fifty percent discount on capital gains,

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Speaker 1: curtailing franking credits as a trade off for reducing corporate

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Speaker 1: tax and implementing higher taxes on mining, energy and carbon.

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Speaker 1: Earlier in the week, Charmers pledged to lead an overhaul

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Speaker 1: of Australia's tax system that will include lower income taxes

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Speaker 1: for workers but no changes to GST. He also conceded

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Speaker 1: that taxes overall would probably need to rise to repair

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Speaker 1: an unsustainable budget. Story number three. Prime Minister Anthony Albanesi

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Speaker 1: has ruled out attending next week's NATO summit in the Netherlands,

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Speaker 1: dashing hopes of a first face to face meeting with

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Speaker 1: US President Donald Trump. The NATO meeting had emerged as

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Speaker 1: a fallback for Albanesi after Donald Trump cut short his

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Speaker 1: attendance at the g seventh summit in Canada this week

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Speaker 1: so the US President could fly back to monitor developments

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Speaker 1: in the Middle East. Trump's early departure forced the cancelation

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Speaker 1: of the meeting with Albanzi as well as with other leaders,

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Speaker 1: prompting headlines that the PM was being snubbed. Defense Minister

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Speaker 1: Richard Miles will go ahead with attending the NATO meeting

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Speaker 1: instead of Prime Minister Anthony Albanesi. Story number four. Foreign

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Speaker 1: Minister Penny Wong says the Australian government has directed the

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Speaker 1: departure of all Australian officials in Tehran and the Australian

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Speaker 1: Defense Force has been deployed to assist Australian citizens. Wong

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Speaker 1: said a decision to close the Australian embassy was based

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Speaker 1: on the deteriorating security environment in Iran and discussions with

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Speaker 1: the Prime Minister. Wong said it was extremely difficult to

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Speaker 1: assist Australia's departing Iran due to the situation on the

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Speaker 1: ground and the airspace remaining closed. She said Australian Defense

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Speaker 1: Force personnel and aircraft were being deployed to the Middle

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Speaker 1: East as part of the operation to assist Australians and

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Speaker 1: not to join the conflict. More than two thousand Australians

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Speaker 1: have registered for assistance to depart Iran. Currently, the airspace

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Speaker 1: is closed, making a vacation very difficult. Foreign Minister Wong

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Speaker 1: confirmed that staff and officials were redeploying from Iran to

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Speaker 1: the neighboring country of Azerbaijan. Story number five. US President

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Speaker 1: Donald Trump said he will postpone any US intervention in

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Speaker 1: the Israelian campaign against Iran for another fourteen days to

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Speaker 1: give a negotiated outcome a chance of success. White House

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Speaker 1: spokeswoman Caroline Leavitt said she had a message directly from

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Speaker 1: the US President and stressed that nobody should be surprised

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Speaker 1: and mister Trump's conviction that Iran must not be allowed

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Speaker 1: to obtain a nuclear bomb. Quoting from mister Trump, she said,

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Speaker 1: based on the fact that there's a substantial chance of

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Speaker 1: negotiations that may or may not take place with Iran

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Speaker 1: in the near future, I will make my decision whether

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Speaker 1: or not to go within the next two weeks end

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Speaker 1: of quote. Missus Levitt made clear that the US President's

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Speaker 1: top priority was not regime change, but ensuring that Iran

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Speaker 1: was unable to develop a nuclear weapon. That's it for

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Speaker 1: the afternoon report for Friday, the twentieth of June twenty

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Speaker 1: twenty five. Make sure you hit follow on the podcast.

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

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Speaker 1: Fear and Greed Business News. I'm Adam Lane. Enjoy your

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Speaker 1: eating