1 00:00:04,160 --> 00:00:07,360 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Tuesday, 2 00:00:07,400 --> 00:00:10,120 Speaker 1: the twentieth of May twenty twenty five. I'm sure, alma, 3 00:00:10,440 --> 00:00:12,680 Speaker 1: every afternoon we've got the five stories that have happened 4 00:00:12,680 --> 00:00:14,600 Speaker 1: today that you need to know about. Storingum one. The 5 00:00:14,600 --> 00:00:17,400 Speaker 1: Reserve Bank of Australia cut the official cash rate by 6 00:00:17,480 --> 00:00:20,400 Speaker 1: twenty five bases points this afternoon and left the door 7 00:00:20,440 --> 00:00:22,880 Speaker 1: open for further rate cuts later in the year. The 8 00:00:22,920 --> 00:00:26,880 Speaker 1: central bank said inflation is returning to target and it's 9 00:00:26,960 --> 00:00:30,720 Speaker 1: concerned about the sluggish pickup in household activity that gives 10 00:00:30,720 --> 00:00:33,800 Speaker 1: it confidence to cut rates. The AX rose after the 11 00:00:33,800 --> 00:00:37,160 Speaker 1: early afternoon announcement and finished up zero point six percent 12 00:00:37,200 --> 00:00:40,080 Speaker 1: to eighty three hundred and forty three points. Tech stocks 13 00:00:40,120 --> 00:00:43,199 Speaker 1: and real estate investment trust did best. Both the sectors 14 00:00:43,280 --> 00:00:45,839 Speaker 1: sensitive to interest rate changes. Come Off Bank hit a 15 00:00:45,840 --> 00:00:47,800 Speaker 1: new record of just under one hundred and seventy three 16 00:00:47,840 --> 00:00:50,720 Speaker 1: dollars and fifty cents a share, though it finished a 17 00:00:50,760 --> 00:00:54,240 Speaker 1: little lower than that. Strong performance today include CSL National 18 00:00:54,240 --> 00:00:57,640 Speaker 1: Australia Bank and ed mcquarie Group, Goodman, Telstra, Sigma Healthcare, 19 00:00:57,640 --> 00:00:59,800 Speaker 1: and Weis Tech Global. On the other side of the 20 00:00:59,840 --> 00:01:03,760 Speaker 1: LEFTBHP Fortescue Metals Group, Woodside and Aristocrat Leisure at The 21 00:01:03,760 --> 00:01:06,839 Speaker 1: Aussie dollar felt slightly after the Reserve Bank announcement, while 22 00:01:06,840 --> 00:01:10,080 Speaker 1: ten year by Yels eased. Storry number two. Australian Super 23 00:01:10,160 --> 00:01:14,480 Speaker 1: has reinvested in the country's largest coal producer, white Haven Coal, 24 00:01:14,840 --> 00:01:17,720 Speaker 1: and says it is consistent with its commitment to net 25 00:01:17,840 --> 00:01:23,000 Speaker 1: zero emissions by twenty fifty. Environmental activists disagree, labeling it 26 00:01:23,040 --> 00:01:24,920 Speaker 1: as an insult to the funds three and a half 27 00:01:24,959 --> 00:01:28,520 Speaker 1: million members. According to The Financial Review. Last week, Australian 28 00:01:28,560 --> 00:01:31,119 Speaker 1: Super bought one point three million shares in white Haven, 29 00:01:31,560 --> 00:01:34,720 Speaker 1: just days before three climate related investment groups, of which 30 00:01:34,760 --> 00:01:38,120 Speaker 1: Australian Souper is a member, declared they'd put more pressure 31 00:01:38,160 --> 00:01:42,080 Speaker 1: on listed companies to decarbonize. Storry number three software group 32 00:01:42,120 --> 00:01:44,440 Speaker 1: Technology Won had a Good Day said it will play 33 00:01:44,440 --> 00:01:47,440 Speaker 1: out a record dividend after reporting a thirty percent jump 34 00:01:47,480 --> 00:01:51,120 Speaker 1: in net profit. Share price as a result jumped twelve percent. 35 00:01:51,440 --> 00:01:54,880 Speaker 1: The Brisbane based company also upgraded its full year profit guidance. 36 00:01:55,160 --> 00:01:57,280 Speaker 1: Its share price has doubled in the last year. It's 37 00:01:57,320 --> 00:02:01,040 Speaker 1: trading around an all time high. Technology One produces business 38 00:02:01,040 --> 00:02:05,000 Speaker 1: management software used by a bunch of people, including government departments, 39 00:02:05,320 --> 00:02:09,799 Speaker 1: local councils and universities. Sorry before. In other corporatenews, Coguan 40 00:02:09,840 --> 00:02:13,440 Speaker 1: dot Com slumped after telling investors it did not expect 41 00:02:13,520 --> 00:02:17,080 Speaker 1: its online business Mighty Ape to return to profitability until 42 00:02:17,080 --> 00:02:21,080 Speaker 1: twenty twenty six following a problematic web platform upgrade. Also, 43 00:02:21,200 --> 00:02:24,040 Speaker 1: New Zealand based insurer Tower jumped after reporting more than 44 00:02:24,040 --> 00:02:27,120 Speaker 1: fifty percent rise in half year profit in the March 45 00:02:27,160 --> 00:02:30,360 Speaker 1: half and diversified minus SOAU thirty two rows four percent 46 00:02:30,680 --> 00:02:33,720 Speaker 1: after revealing new twenty twenty five twenty six forecasts to 47 00:02:33,760 --> 00:02:37,680 Speaker 1: account for lower alumina prices. Finally, story number five, Donald 48 00:02:37,720 --> 00:02:42,600 Speaker 1: Trump says Russia and Ukraine will immediately begin negotiations on 49 00:02:42,680 --> 00:02:46,080 Speaker 1: preparations for peace talks, but he's leaving Moscow and Kiev 50 00:02:46,120 --> 00:02:48,399 Speaker 1: to reach a deal without the US as a brokup. 51 00:02:48,720 --> 00:02:52,079 Speaker 1: After phone calls with Russian President Vladimir Putin and Ukraine's 52 00:02:52,120 --> 00:02:56,519 Speaker 1: president Vladimir Zelenski, Trump posted that and I quote, Russia 53 00:02:56,520 --> 00:03:01,079 Speaker 1: and Ukraine will immediately start negotiations towards ceasefire and more importantly, 54 00:03:01,520 --> 00:03:04,280 Speaker 1: and end to the war. Putin was more tentative. He 55 00:03:04,360 --> 00:03:07,440 Speaker 1: offered no substantive change in the Kremlin stance. He said 56 00:03:07,560 --> 00:03:11,000 Speaker 1: Russia is ready to work with Kiev on a memorandum 57 00:03:11,000 --> 00:03:14,720 Speaker 1: to frame future talks, which might include a ceasefire for 58 00:03:14,760 --> 00:03:18,400 Speaker 1: a certain amount of time plenty of caveats their Zelenski 59 00:03:18,520 --> 00:03:21,720 Speaker 1: asked the US leader to not distance himself from efforts 60 00:03:21,720 --> 00:03:24,160 Speaker 1: to secure peace. He said the only one that benefits 61 00:03:24,160 --> 00:03:27,359 Speaker 1: from that is Putin. Trump also said that the Vatican 62 00:03:27,400 --> 00:03:30,560 Speaker 1: would be very interested in hosting future talks as it 63 00:03:30,639 --> 00:03:33,040 Speaker 1: For the Afternoon Report for Tuesday, the twentieth of May 64 00:03:33,120 --> 00:03:35,520 Speaker 1: twenty twenty five, make sure you hit follow on the podcast. 65 00:03:35,800 --> 00:03:38,080 Speaker 1: We will be back tomorrow morning with a Wednesday edition 66 00:03:38,240 --> 00:03:41,040 Speaker 1: of the Fast five Business News by Fear and Greed. 67 00:03:41,200 --> 00:03:43,200 Speaker 1: I'm Sean Elma. Enjoy your evening.