1 00:00:03,600 --> 00:00:06,320 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,360 --> 00:00:08,960 Speaker 1: for Thursday, the tenth of July twenty twenty five. I'm 3 00:00:09,000 --> 00:00:11,920 Speaker 1: Sean Aylmer. Every afternoon, we've got the five stories that 4 00:00:12,039 --> 00:00:14,280 Speaker 1: happened today that you need to know about. Story number one. 5 00:00:14,360 --> 00:00:17,720 Speaker 1: The SMPA six two hundred finished up zero point six 6 00:00:17,800 --> 00:00:21,120 Speaker 1: percent today to eight thousand, five hundred and eighty nine points. 7 00:00:21,800 --> 00:00:24,959 Speaker 1: It's back training close to record levels, with hopes of 8 00:00:25,120 --> 00:00:29,080 Speaker 1: local interest rate cuts and a strong shift on Wall 9 00:00:29,080 --> 00:00:32,720 Speaker 1: Street pushing the market along. It's school holidays across the country, 10 00:00:32,720 --> 00:00:35,839 Speaker 1: so training is lighter than normal now. In terms of 11 00:00:35,840 --> 00:00:39,240 Speaker 1: sub and disease materials, industrials and real estate did best today, 12 00:00:39,520 --> 00:00:42,320 Speaker 1: while the healthcare index was worse. Only two of the 13 00:00:42,320 --> 00:00:45,479 Speaker 1: top twenty companies ended in the red, one with CSL 14 00:00:45,520 --> 00:00:48,919 Speaker 1: on the back of tariff concerns on pharmaceuticals. The other 15 00:00:49,240 --> 00:00:52,599 Speaker 1: was Sigma Healthcare. Woodside was flat, while the other seventeen 16 00:00:52,640 --> 00:00:55,920 Speaker 1: stocks rose. Story number two. The Prime Minister Anthony Alberizi 17 00:00:56,000 --> 00:00:58,720 Speaker 1: was asked today about Donald Trump's plans to introduce two 18 00:00:58,880 --> 00:01:02,520 Speaker 1: hundred percent tariffs on pharmaceuticals, which would put at risk 19 00:01:02,600 --> 00:01:05,240 Speaker 1: two billion dollars worth of drug sales from Australia into 20 00:01:05,280 --> 00:01:09,000 Speaker 1: North America. Misster Albernesi said the Pharmaceutical Benefit Scheme, which 21 00:01:09,040 --> 00:01:11,880 Speaker 1: subsidizes the cost of drugs in Australia, would not be 22 00:01:11,959 --> 00:01:15,319 Speaker 1: compromised in trade talks with the US. Now, US drug 23 00:01:15,400 --> 00:01:17,840 Speaker 1: makers have a complained to the White House about having 24 00:01:17,920 --> 00:01:21,600 Speaker 1: slow access to the Australian market, saying the PBS often 25 00:01:21,640 --> 00:01:25,480 Speaker 1: subsidizes cheaper generic products over THEIRS. The fear is that 26 00:01:25,520 --> 00:01:29,080 Speaker 1: Donald Trump uses this as a reason for Australian goods 27 00:01:29,160 --> 00:01:33,080 Speaker 1: with higher tariffs, but mister Alberesi reckons the PBS ain't 28 00:01:33,240 --> 00:01:37,200 Speaker 1: a negotiating point. Another point of contention is the government's 29 00:01:37,200 --> 00:01:40,720 Speaker 1: Media Bargaining Code, which forces big tech to pay media 30 00:01:40,760 --> 00:01:43,160 Speaker 1: companies for content. The Prime Ministers said that was also 31 00:01:43,200 --> 00:01:47,040 Speaker 1: not up for negotiation. Storing number three investigation by anti 32 00:01:47,080 --> 00:01:52,080 Speaker 1: corruption barrister Jeffrey Watson sc has found the CFMEU in 33 00:01:52,160 --> 00:01:58,080 Speaker 1: Queensland deliberately inflicted physical, sexual, emotional and economic abuse on others, 34 00:01:58,080 --> 00:02:02,520 Speaker 1: from labor politicians to public service and rival unionists, including 35 00:02:02,640 --> 00:02:06,800 Speaker 1: women and children. The investigation accused the group's former Queensland 36 00:02:06,880 --> 00:02:11,680 Speaker 1: leadership of overseeing a regime that was violent, cruel, misogynistic, 37 00:02:12,000 --> 00:02:16,200 Speaker 1: and targeted family members as fair game Media's reporting union sources, 38 00:02:16,240 --> 00:02:19,480 Speaker 1: saying six organizers have now been removed from their roles. 39 00:02:19,680 --> 00:02:23,480 Speaker 1: The forty five page investigation details dozens of incidents, and 40 00:02:23,600 --> 00:02:26,720 Speaker 1: Washton Watson said he fears it only scratches the surface. 41 00:02:27,160 --> 00:02:31,120 Speaker 1: He described the union violence as childish and cowardly, but 42 00:02:31,200 --> 00:02:33,919 Speaker 1: said far and away the worst hypocrisy from the CFMEMEU 43 00:02:34,080 --> 00:02:37,400 Speaker 1: relates to its treatment of women. Story number four. In 44 00:02:37,440 --> 00:02:40,359 Speaker 1: the United States, Donald Trump has confirmed the fifty percent 45 00:02:40,400 --> 00:02:43,440 Speaker 1: tariff on US copper imports will come into effect on 46 00:02:43,440 --> 00:02:46,600 Speaker 1: one August. He's also threatened to hit Brazil with tariffs 47 00:02:46,639 --> 00:02:49,440 Speaker 1: of fifty percent and accused it of attacking free speech 48 00:02:49,840 --> 00:02:53,480 Speaker 1: over the treatment of the country's former right wing president, 49 00:02:53,880 --> 00:02:58,520 Speaker 1: j Baltonaro. Trump is critical of Brazil's policies on US 50 00:02:58,520 --> 00:03:02,079 Speaker 1: tech companies as well. Brazil had attracted just a ten 51 00:03:02,080 --> 00:03:06,040 Speaker 1: percent tariff like Australia, now it's fifty percent. Boltonaro, a 52 00:03:06,080 --> 00:03:09,000 Speaker 1: longtime Trump ally, is currently on trial in Brazil over 53 00:03:09,000 --> 00:03:12,120 Speaker 1: an alleged cop attempt against the city and government. Finally, 54 00:03:12,160 --> 00:03:15,160 Speaker 1: storying number five, one of the more remarkable stories of 55 00:03:15,160 --> 00:03:18,440 Speaker 1: the year, which admittedly has nothing to do with business, 56 00:03:18,440 --> 00:03:21,560 Speaker 1: but it's worth telling. A nineteen year old surfer who 57 00:03:21,639 --> 00:03:25,040 Speaker 1: went missing off the New South Wales North Coast has 58 00:03:25,080 --> 00:03:28,680 Speaker 1: been found alive on a remote island, eighteen hours after 59 00:03:28,720 --> 00:03:33,200 Speaker 1: he disappeared. Darcy Defaults was last seen leaving his home 60 00:03:33,240 --> 00:03:36,320 Speaker 1: on bike at Woolle yesterday at four pm to go 61 00:03:36,440 --> 00:03:39,280 Speaker 1: for a surf at Willoe Beach in calm conditions. After 62 00:03:39,320 --> 00:03:41,960 Speaker 1: he failed to return home, his family contacted the police 63 00:03:42,000 --> 00:03:45,600 Speaker 1: to report him missing. Search efforts began and defaults bike 64 00:03:45,640 --> 00:03:48,440 Speaker 1: and clothes were recovered at a local spot known as 65 00:03:48,520 --> 00:03:52,080 Speaker 1: One Tree. By nightfall yesterday, he hadn't been found. The 66 00:03:52,120 --> 00:03:55,320 Speaker 1: search was called off started again this morning, and at 67 00:03:55,360 --> 00:03:58,320 Speaker 1: nine am he was found alive and well on North 68 00:03:58,480 --> 00:04:02,840 Speaker 1: Solitary Island, thirteen kilometers southeast of Wuly Now. North Sualtree 69 00:04:02,880 --> 00:04:04,560 Speaker 1: Island is one of the largest islands off the New 70 00:04:04,560 --> 00:04:09,840 Speaker 1: South Wales Coast, approximately five hectares no significant infrastructure. Somehow 71 00:04:09,880 --> 00:04:13,040 Speaker 1: he was found. That's it for the Afternoon Report for Thursday, 72 00:04:13,120 --> 00:04:15,240 Speaker 1: the tenth of July twenty twenty five. Make sure you 73 00:04:15,320 --> 00:04:17,240 Speaker 1: hit follow on the podcast. We will be back tomorrow 74 00:04:17,240 --> 00:04:20,119 Speaker 1: morning with the Friday edition. A few and green business News. 75 00:04:20,279 --> 00:04:22,320 Speaker 1: I'm Sean Almer. Enjoy your evening.