1 00:00:03,560 --> 00:00:06,400 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for 2 00:00:06,559 --> 00:00:09,280 Speaker 1: Monday The Talk for May twenty twenty five. I'm suan Alma. 3 00:00:09,480 --> 00:00:11,799 Speaker 1: Every afternoon, We've got the five stories that happen today 4 00:00:11,840 --> 00:00:14,640 Speaker 1: that you need to know about. Stratumer one. The SMPAX 5 00:00:14,680 --> 00:00:18,280 Speaker 1: two hundred closed flat packs up two points to eight 6 00:00:18,720 --> 00:00:22,759 Speaker 1: two hundred and thirty four points. Broadly, mining and energy 7 00:00:22,760 --> 00:00:26,840 Speaker 1: companies outperformed, and pharmaceuticals did worst. Among the large cast, 8 00:00:26,920 --> 00:00:30,000 Speaker 1: Macquarie Goodman and Rio Tinto did best, while National Australia 9 00:00:30,040 --> 00:00:34,880 Speaker 1: Bank and CSL fell. Story number two. Some of Australia's 10 00:00:34,880 --> 00:00:38,880 Speaker 1: most popular biotech companies were sold off heavily today after 11 00:00:39,000 --> 00:00:41,920 Speaker 1: US President Donald Trump said he wants to slash the 12 00:00:42,040 --> 00:00:46,280 Speaker 1: price of prescription drugs in the US. Telix, Clarity and 13 00:00:46,360 --> 00:00:50,480 Speaker 1: neur And Pharmaceuticals were heavily sold all sell drug therapies 14 00:00:50,600 --> 00:00:54,800 Speaker 1: in America. So too was Botanics, which makes anti cholinergic 15 00:00:54,920 --> 00:00:58,760 Speaker 1: medicine that's sweating, even though it said it didn't think 16 00:00:58,760 --> 00:01:01,200 Speaker 1: it would be caught up in the resident's plan. Trump 17 00:01:01,240 --> 00:01:04,040 Speaker 1: wants to reduce prices by thirty to eighty percent. US 18 00:01:04,080 --> 00:01:08,279 Speaker 1: consumers pay relatively more for pharmaceuticals than other countries such 19 00:01:08,360 --> 00:01:11,880 Speaker 1: as Australia. Story number three. In other corporate news today, 20 00:01:12,120 --> 00:01:14,840 Speaker 1: Nuno Mattos, the new boss of ain Z, started in 21 00:01:14,840 --> 00:01:18,000 Speaker 1: the job with plenty to think about, starting with corporate 22 00:01:18,000 --> 00:01:21,480 Speaker 1: governance issues. At the Big four bank, Diversified Minus South 23 00:01:21,520 --> 00:01:24,160 Speaker 1: thirty two lifted three percent after its long term chief 24 00:01:24,160 --> 00:01:27,199 Speaker 1: executive Graham Kurse said he'll step down next year after 25 00:01:27,280 --> 00:01:30,560 Speaker 1: a decade at the helm. Telstra has hired the managing 26 00:01:30,560 --> 00:01:33,880 Speaker 1: director of Microsoft Australia and New Zealand, Stephen Worrell, to 27 00:01:33,959 --> 00:01:37,360 Speaker 1: head up its Infraco business. The gold stocks were sold 28 00:01:37,360 --> 00:01:41,680 Speaker 1: off after US Treasury Secretary Scott Besant said significant progress 29 00:01:41,720 --> 00:01:44,720 Speaker 1: had been made in trade negotiations with China. That comment 30 00:01:44,760 --> 00:01:46,880 Speaker 1: pushed the price of goal back below thirty three hundred 31 00:01:46,959 --> 00:01:50,200 Speaker 1: US dollars announced and Hester. The ninety one billion dollars 32 00:01:50,240 --> 00:01:54,240 Speaker 1: Superannuation Fund has sold its remaining stake in Chris Ellison's 33 00:01:54,280 --> 00:01:59,160 Speaker 1: Mineral Resources citing serious governance concerns. Storry Number four nine 34 00:01:59,320 --> 00:02:02,880 Speaker 1: Entertainment and its streaming service STAN will broadcast the Men's 35 00:02:02,880 --> 00:02:06,960 Speaker 1: and Women's World Rugby tournaments in Australia under a long 36 00:02:07,040 --> 00:02:10,000 Speaker 1: term deal which runs until twenty twenty nine. Nine also 37 00:02:10,080 --> 00:02:13,640 Speaker 1: gets the broadcast rights to the HSBC World Rugby seven 38 00:02:13,760 --> 00:02:16,800 Speaker 1: series in the twenty twenty five Pacific Nations Cup. Now 39 00:02:16,880 --> 00:02:20,079 Speaker 1: the Women's World Cup runs this year from August to September, 40 00:02:20,480 --> 00:02:23,800 Speaker 1: and an Australia hosts the men's competition in twenty twenty seven. 41 00:02:23,919 --> 00:02:26,160 Speaker 1: The deal comes a month after Nine signed a five 42 00:02:26,240 --> 00:02:29,720 Speaker 1: year agreement with Rugby Australia for Super Rugby matches, Wallabies 43 00:02:29,760 --> 00:02:32,880 Speaker 1: and Wallaroo's tests. The latest deal also includes the let 44 00:02:32,919 --> 00:02:35,640 Speaker 1: Us Low Cup, the Rugby Championship and soon to launch 45 00:02:35,720 --> 00:02:38,400 Speaker 1: Nations Cup. Much of that content will be seen on 46 00:02:38,600 --> 00:02:42,000 Speaker 1: Stan only and Story Number five. As I mentioned earlier, 47 00:02:42,120 --> 00:02:46,680 Speaker 1: US Treasury Secretary Scott Bessant said the US made substantial 48 00:02:46,760 --> 00:02:49,720 Speaker 1: progress over two days of trade talks with Chinese officials 49 00:02:49,720 --> 00:02:52,959 Speaker 1: in Geneva, in the first sign that Washington and Beijing 50 00:02:53,360 --> 00:02:57,920 Speaker 1: might de escalate economic tensions. Besant and US Trade Representative 51 00:02:58,040 --> 00:03:02,240 Speaker 1: Jenmerson Greer held a two day meeting with their Chinese counterparts, 52 00:03:02,520 --> 00:03:06,480 Speaker 1: including Vice Premier he Lifang. Gree said, and I quote, 53 00:03:06,600 --> 00:03:10,240 Speaker 1: it's important to understand how quickly we were able to 54 00:03:10,280 --> 00:03:13,399 Speaker 1: come to agreement, which reflects that perhaps the differences were 55 00:03:13,400 --> 00:03:16,680 Speaker 1: not so large as maybe thought end quote. That's according 56 00:03:16,720 --> 00:03:19,760 Speaker 1: to the FT China's mister. He said the talks were 57 00:03:19,800 --> 00:03:24,079 Speaker 1: and I quote, candid, in depth and constructive, and an 58 00:03:24,080 --> 00:03:28,000 Speaker 1: important consensus has been reached. There are hopes that talks 59 00:03:28,000 --> 00:03:30,440 Speaker 1: will calm financial markets, which have been hit hard by 60 00:03:30,480 --> 00:03:33,840 Speaker 1: fears that tariff's will hit global supply chains and potentially 61 00:03:33,919 --> 00:03:36,760 Speaker 1: lead to US recession. That's it for the afternoon Report 62 00:03:36,760 --> 00:03:39,000 Speaker 1: for Monday, the twelfth of May twenty twenty five. Make 63 00:03:39,040 --> 00:03:41,160 Speaker 1: sure you hit follow on the podcast. We'll be back 64 00:03:41,160 --> 00:03:43,920 Speaker 1: tomorrow morning with the Tuesday edition of Fear and Greed 65 00:03:43,960 --> 00:03:46,560 Speaker 1: Business News. I'm Shane Elma. Enjoy your evening.