1 00:00:03,680 --> 00:00:06,920 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report, 2 00:00:06,960 --> 00:00:10,520 Speaker 1: Thursday the eleventh of September twenty twenty five Michael Thompson. 3 00:00:10,760 --> 00:00:12,960 Speaker 1: Every afternoon, we've got the five stories that happened today 4 00:00:12,960 --> 00:00:15,240 Speaker 1: that you need to know about. Let's go storry number one. 5 00:00:15,240 --> 00:00:18,720 Speaker 1: The S and p ASX two hundred dipped zero point 6 00:00:18,760 --> 00:00:22,079 Speaker 1: three percent today to eight hundred and five points, dragged 7 00:00:22,079 --> 00:00:24,079 Speaker 1: down in part by the big banks A and Z 8 00:00:24,640 --> 00:00:27,479 Speaker 1: and that was off one point six percent, NAB and 9 00:00:27,520 --> 00:00:31,160 Speaker 1: Westpac both down zero point nine percent, and Commonwealth Banks 10 00:00:31,160 --> 00:00:34,400 Speaker 1: share price fell zero point five percent. Healthcare two though 11 00:00:34,479 --> 00:00:37,599 Speaker 1: had an ordinary day, led by CSL, which slumped two 12 00:00:37,680 --> 00:00:41,599 Speaker 1: point four percent. The price of crude oil climbed overnight 13 00:00:41,640 --> 00:00:45,240 Speaker 1: that helped the local energy sector. Sentos and Woodside both climbed. 14 00:00:45,320 --> 00:00:48,519 Speaker 1: The price of gold is still sitting at near record highs, 15 00:00:48,720 --> 00:00:51,599 Speaker 1: which of course benefited the local gold miners. On the ASEX, 16 00:00:51,680 --> 00:00:54,520 Speaker 1: Newmont was up one point three percent, Resolute up more 17 00:00:54,520 --> 00:00:58,480 Speaker 1: than eight percent. Both Northern Star and Romilius climbed three 18 00:00:58,560 --> 00:01:02,720 Speaker 1: and a half percent. Was small gains for the lithium minors, 19 00:01:02,760 --> 00:01:06,240 Speaker 1: but a long long way still from recovering the ground 20 00:01:06,319 --> 00:01:10,039 Speaker 1: that they lost yesterday when prices tumbled on news that 21 00:01:10,080 --> 00:01:13,600 Speaker 1: a big Chinese mind could be reopening early. The other 22 00:01:13,640 --> 00:01:17,360 Speaker 1: one worth mentioning today is nine Entertainment. Its share price 23 00:01:17,400 --> 00:01:20,920 Speaker 1: plummeted nearly thirty six percent today. But there is a 24 00:01:21,080 --> 00:01:24,160 Speaker 1: very good reason. The stock went ex dividend, which basically 25 00:01:24,160 --> 00:01:26,600 Speaker 1: means if you held the shares before today, you received 26 00:01:26,720 --> 00:01:29,960 Speaker 1: the dividend, and afterwards you didn't. And this was a 27 00:01:30,080 --> 00:01:33,640 Speaker 1: big one because it was the special dividend payout sharing 28 00:01:33,680 --> 00:01:37,120 Speaker 1: the proceeds of the sale of domain to US property 29 00:01:37,200 --> 00:01:40,600 Speaker 1: group co Star onto story number two now and Bendigo 30 00:01:40,600 --> 00:01:43,600 Speaker 1: and Adelaide Bank is reportedly set to cut almost one 31 00:01:43,680 --> 00:01:47,000 Speaker 1: hundred and sixty jobs, mostly in its technology division, becoming 32 00:01:47,040 --> 00:01:52,040 Speaker 1: the latest lender to slash staff. We spoke yesterday about 33 00:01:52,360 --> 00:01:54,840 Speaker 1: the more than four hundred jobs going at NAB and 34 00:01:54,880 --> 00:01:57,240 Speaker 1: a major reduction at A and Z of around three 35 00:01:57,320 --> 00:01:59,960 Speaker 1: and a half thousand jobs that was announced the day before. 36 00:02:00,600 --> 00:02:03,440 Speaker 1: Three days in a row. This is becoming a trend. 37 00:02:03,600 --> 00:02:06,440 Speaker 1: The sector is under pressure to cut costs push profits. 38 00:02:06,720 --> 00:02:10,000 Speaker 1: Bendigo says its restructure is aimed at boosting productivity and 39 00:02:10,000 --> 00:02:13,200 Speaker 1: improving customer service, but the finance sector union is actually 40 00:02:13,280 --> 00:02:15,960 Speaker 1: taking the bank to the Fair Work Commission, arguing that 41 00:02:16,000 --> 00:02:19,919 Speaker 1: workers haven't been given enough information. Story number three. Liberal 42 00:02:19,960 --> 00:02:23,880 Speaker 1: frontbencher Andrew Hasty has denied any move is underway to 43 00:02:23,919 --> 00:02:28,239 Speaker 1: replace Susan Lee as opposition leader, but confirmed he has 44 00:02:28,280 --> 00:02:32,160 Speaker 1: a quote desire to lead. Hasty says Lee had no 45 00:02:32,280 --> 00:02:34,959 Speaker 1: choice but to sack just into number gin per Price 46 00:02:35,080 --> 00:02:38,919 Speaker 1: after she refused to publicly back her leadership, although he 47 00:02:39,120 --> 00:02:43,520 Speaker 1: did suggest that Saga was mishandled. The West Australian MP 48 00:02:43,760 --> 00:02:46,720 Speaker 1: vowed to speak out on energy and migration, reiterating his 49 00:02:46,760 --> 00:02:51,000 Speaker 1: opposition to net zero while stressing this is a quote. 50 00:02:51,080 --> 00:02:56,480 Speaker 1: The knives are not being sharpened against Lee. Story number four. 51 00:02:56,680 --> 00:02:58,840 Speaker 1: We said it might happen, and it did, but not 52 00:02:58,919 --> 00:03:02,840 Speaker 1: for long. Oracle founder Larry Ellison briefly overtook Elon Musk 53 00:03:02,880 --> 00:03:07,000 Speaker 1: as the world's richest person after Oracle shares surged thirty 54 00:03:07,080 --> 00:03:11,240 Speaker 1: six percent, the company's biggest one day gain since nineteen 55 00:03:11,360 --> 00:03:15,520 Speaker 1: ninety two. Ellison's fortune jumped by a record eighty nine 56 00:03:15,600 --> 00:03:18,600 Speaker 1: billion US dollars to three hundred and eighty three billion US. 57 00:03:18,880 --> 00:03:21,840 Speaker 1: This is according to the Bloomberg Billionaires Index, giving him 58 00:03:21,880 --> 00:03:26,000 Speaker 1: the number one spot before Elon Musk edged back ahead 59 00:03:26,000 --> 00:03:29,720 Speaker 1: by just one billion dollars. Now eighty one year old 60 00:03:29,720 --> 00:03:32,840 Speaker 1: Ellison as most of his wealth tied to Oracle, which 61 00:03:32,880 --> 00:03:37,040 Speaker 1: posted some booming cloud growth. By contrast, Tesla shares a 62 00:03:37,120 --> 00:03:40,440 Speaker 1: down fourteen percent this year, and finally, story number five 63 00:03:40,520 --> 00:03:43,559 Speaker 1: are very serious one to finish on. Prominent US conservative 64 00:03:43,600 --> 00:03:47,800 Speaker 1: activist Charlie Kirk has been shot dead while speaking at 65 00:03:47,800 --> 00:03:51,760 Speaker 1: a university in Utah, sparking a massive manhunt for the 66 00:03:51,840 --> 00:03:55,160 Speaker 1: killer and a political storm as well. Thirty one year 67 00:03:55,200 --> 00:03:57,600 Speaker 1: old Kirk was shot in the neck during an outdoor 68 00:03:57,640 --> 00:04:01,200 Speaker 1: event attended by thousands. He was roughs to hospital. He 69 00:04:01,320 --> 00:04:04,320 Speaker 1: later died. Authorities say the shot was fired from a 70 00:04:04,520 --> 00:04:07,200 Speaker 1: nearby building, and footage obtained by The New York Times 71 00:04:07,640 --> 00:04:10,560 Speaker 1: appeared to show a figure on a roof. A suspect 72 00:04:10,840 --> 00:04:13,840 Speaker 1: was detained but was later released, and a search is 73 00:04:13,880 --> 00:04:17,080 Speaker 1: continuing now. US President Donald Trump, who was a close 74 00:04:17,120 --> 00:04:20,640 Speaker 1: ally of Charlie Kirk, called him a martyr for truth 75 00:04:20,680 --> 00:04:24,400 Speaker 1: and freedom and blamed the radical left for fueling the attack. 76 00:04:24,880 --> 00:04:29,040 Speaker 1: Utah's governor has labeled it a political assassination. That's it 77 00:04:29,160 --> 00:04:32,240 Speaker 1: for the Afternoon Report for Thursday, the eleventh of September 78 00:04:32,279 --> 00:04:34,760 Speaker 1: twenty twenty five. Make sure you hit follow on the 79 00:04:34,800 --> 00:04:37,240 Speaker 1: podcast and we'll be back tomorrow morning with the Friday 80 00:04:37,400 --> 00:04:42,640 Speaker 1: edition of Fear and Greed. I'm Nael Thompson for Joyry