1 00:00:03,760 --> 00:00:06,400 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,480 --> 00:00:08,840 Speaker 1: for Friday, the thirty first of May twenty twenty four. 3 00:00:08,880 --> 00:00:11,399 Speaker 1: I'm Sean A. Elmer. Every afternoon, we've got the five 4 00:00:11,440 --> 00:00:13,400 Speaker 1: stories that happened today that you need to know about. 5 00:00:13,480 --> 00:00:16,239 Speaker 1: Storingum one. The S and PASX two hundred closed up 6 00:00:16,280 --> 00:00:19,160 Speaker 1: one percent today to seven seven hundred and two points. 7 00:00:19,400 --> 00:00:22,599 Speaker 1: Healthcare stocks did best, while energy and consumer staples also 8 00:00:22,640 --> 00:00:25,160 Speaker 1: did well. The real estate sector was the worst performer 9 00:00:25,400 --> 00:00:28,320 Speaker 1: among the large cap CSL was one of the better performers. 10 00:00:28,440 --> 00:00:31,440 Speaker 1: QB Coals and Aristocrat Leisure also did well. Goodman Group 11 00:00:31,520 --> 00:00:33,199 Speaker 1: was one of the worst of the top twenty stocks 12 00:00:33,479 --> 00:00:37,000 Speaker 1: for the week. The Boss fell just twenty points. That's 13 00:00:37,280 --> 00:00:41,240 Speaker 1: pretty much flat really. Telix Pharmaceuticals today was the best performer, 14 00:00:41,320 --> 00:00:44,760 Speaker 1: jumping fourteen percent. In corporate news, Irish Building Products Group 15 00:00:44,880 --> 00:00:48,920 Speaker 1: CRH secured approval from the Foreign Investment Review Board for 16 00:00:48,960 --> 00:00:52,080 Speaker 1: its two point one billion dollar buyout proposal for Cement 17 00:00:52,240 --> 00:00:55,280 Speaker 1: Group adbrime. In February, the ad Briar board back to 18 00:00:55,320 --> 00:00:58,200 Speaker 1: three dollars twenty per share offer and take over target. 19 00:00:58,320 --> 00:01:01,680 Speaker 1: Namoi Cotton traded flat at seventy cents as Sir Louis 20 00:01:01,760 --> 00:01:05,880 Speaker 1: Dreyfus extended the deadline on its bid. Story number two, 21 00:01:06,000 --> 00:01:10,160 Speaker 1: What an incredible day in US politics. Former President Donald Trump, 22 00:01:10,200 --> 00:01:13,319 Speaker 1: and Republican nominee for the November election this year, was 23 00:01:13,440 --> 00:01:17,200 Speaker 1: found guilty of falsifying business records to cover up an 24 00:01:17,200 --> 00:01:20,040 Speaker 1: affair with the porn star, meaning he became the first 25 00:01:20,120 --> 00:01:24,000 Speaker 1: former US president to be criminally convicted. Trump now faces 26 00:01:24,040 --> 00:01:27,560 Speaker 1: the prospect of jail, probation or other restrictions after a 27 00:01:27,640 --> 00:01:30,560 Speaker 1: jury of twelve New Yorkers found he was part of 28 00:01:30,560 --> 00:01:33,600 Speaker 1: a hush money scheme to influence the twenty sixteen election. 29 00:01:34,080 --> 00:01:36,640 Speaker 1: He was found guilty on all thirty four counts he faced, 30 00:01:36,680 --> 00:01:40,280 Speaker 1: though he has foreshadowed an appeal. Outside the courtroom, he said, 31 00:01:40,280 --> 00:01:44,840 Speaker 1: and I quote, this was a rigged, disgraceful trial. The 32 00:01:44,880 --> 00:01:48,320 Speaker 1: real verdict is going to be November fifth, by the people, 33 00:01:48,760 --> 00:01:52,280 Speaker 1: referring to the general election date. Following the verdict, funds 34 00:01:52,560 --> 00:01:56,320 Speaker 1: flooded to mister Trump's campaign from people angry at what 35 00:01:56,480 --> 00:01:58,800 Speaker 1: had happened, so much so that the main platform being 36 00:01:58,880 --> 00:02:02,840 Speaker 1: used by the campaign crashed. Story number three. It's more 37 00:02:02,840 --> 00:02:06,080 Speaker 1: about Donald Trump. What will happen next? Will he be jailed. 38 00:02:06,320 --> 00:02:10,359 Speaker 1: Probably not. The falsifying business records crimes are fairly low 39 00:02:10,440 --> 00:02:13,359 Speaker 1: down the totem pole, and while they carry a maximum 40 00:02:13,360 --> 00:02:16,920 Speaker 1: prison sentence of four years, this seems very unlikely. Even 41 00:02:17,000 --> 00:02:19,919 Speaker 1: Manhattan District to Kearney Alvin Bragg has shied away from 42 00:02:19,960 --> 00:02:23,040 Speaker 1: suggesting mister Trump should be locked up. He's more likely 43 00:02:23,120 --> 00:02:26,240 Speaker 1: to be fined the sentence hearing his schedules for July eleven. 44 00:02:26,919 --> 00:02:30,120 Speaker 1: Can Trump still run for president? Yes? Is the answer 45 00:02:30,200 --> 00:02:31,880 Speaker 1: to that one. What if he goes to jail and 46 00:02:31,919 --> 00:02:35,040 Speaker 1: then beats Joe Biden in the election? Well, theoretically it 47 00:02:35,040 --> 00:02:38,400 Speaker 1: could happen. Law professors have been quoted arguing the sentence 48 00:02:38,680 --> 00:02:42,200 Speaker 1: would probably not be served until after he left office, 49 00:02:42,680 --> 00:02:45,680 Speaker 1: from the White House to the jail house and the 50 00:02:45,720 --> 00:02:49,640 Speaker 1: big one. Can he pardon himself if he becomes president. No, 51 00:02:50,240 --> 00:02:53,119 Speaker 1: it's a state case, not a federal one. Straight Number 52 00:02:53,160 --> 00:02:56,720 Speaker 1: four Mexican fast food chain goosman E Gomez plans to 53 00:02:56,760 --> 00:02:59,119 Speaker 1: list on the AX next June with a two point 54 00:02:59,120 --> 00:03:02,440 Speaker 1: two billion dollar valueuation. Goodman confirmed it will proceed with 55 00:03:02,520 --> 00:03:05,480 Speaker 1: a fully underwritten float of eleven point one million shares 56 00:03:05,520 --> 00:03:08,480 Speaker 1: about twenty two dollars apiece. There will be no general 57 00:03:08,600 --> 00:03:11,080 Speaker 1: public offer. You and I probably can't buy it. The 58 00:03:11,160 --> 00:03:14,280 Speaker 1: money raised will be used to fund growth, primarily expanding 59 00:03:14,320 --> 00:03:17,520 Speaker 1: its restaurant network in Australia. In April, Goodsman raised one 60 00:03:17,600 --> 00:03:20,240 Speaker 1: hundred and thirty five million dollars in private markets, and 61 00:03:20,400 --> 00:03:23,960 Speaker 1: it said current shareholders are generally keen to subscribe again. 62 00:03:24,400 --> 00:03:27,200 Speaker 1: Co founder and co CEO Steve Remarks, will control about 63 00:03:27,240 --> 00:03:30,639 Speaker 1: nine point nine percent. By my reckoning, that's about two 64 00:03:30,680 --> 00:03:33,720 Speaker 1: hundred and twenty million dollars. Not bad for a fast 65 00:03:33,880 --> 00:03:37,920 Speaker 1: food chain and story number five. Immigration Minister Andrew Giles 66 00:03:38,000 --> 00:03:41,320 Speaker 1: is under increasing pressure after the Registrar of the Administrative 67 00:03:41,360 --> 00:03:45,440 Speaker 1: Appeals Tribunal, Michael Hawkins, said the Minister had the ability 68 00:03:45,480 --> 00:03:49,280 Speaker 1: to overturn decisions of the tribunal. This is all about 69 00:03:49,320 --> 00:03:53,120 Speaker 1: non citizen criminals being let back into the community because 70 00:03:53,200 --> 00:03:56,960 Speaker 1: of tribunal decisions based on the so called Direction ninety nine, 71 00:03:56,960 --> 00:04:00,320 Speaker 1: which told the tribunal to focus on an individual's ties 72 00:04:00,400 --> 00:04:03,640 Speaker 1: with Australia. Now some offenders have then committed crimes against 73 00:04:03,640 --> 00:04:07,520 Speaker 1: the community. Prime Minister Anthony Alberizi has directed mister Giles 74 00:04:07,520 --> 00:04:11,160 Speaker 1: to ensure community safety is now the focus of this 75 00:04:11,680 --> 00:04:14,600 Speaker 1: rather than ties with the community, but much the damage 76 00:04:14,600 --> 00:04:17,120 Speaker 1: has already been done to both the government and the Minister. 77 00:04:17,600 --> 00:04:20,680 Speaker 1: Now mister Hawkins, the Registrar is saying the Minister could 78 00:04:20,720 --> 00:04:25,080 Speaker 1: have overturned those original rulings. Plenty more on this one 79 00:04:25,200 --> 00:04:27,960 Speaker 1: next week. I'm sure that's it for the afternoon report 80 00:04:28,000 --> 00:04:30,400 Speaker 1: for Friday, the thirty first of May twenty twenty four. 81 00:04:30,480 --> 00:04:32,800 Speaker 1: Michael Thompson and Lange and I will be back tomorrow 82 00:04:32,800 --> 00:04:35,640 Speaker 1: morning with a weekend edition of Fearing Greed Business News. 83 00:04:35,640 --> 00:04:37,719 Speaker 1: I'm Sean Elmer. Enjoy your evening.