1 00:00:03,440 --> 00:00:06,320 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,360 --> 00:00:09,160 Speaker 1: for Wednesday, the fourth of February twenty twenty six. Oh 3 00:00:09,200 --> 00:00:11,880 Speaker 1: Michael Thompson, and every afternoon, we've got the five stories 4 00:00:11,880 --> 00:00:14,280 Speaker 1: that happened today that you need to know about. Let's 5 00:00:14,280 --> 00:00:17,160 Speaker 1: go sorry. Number one. The S and PASEX two hundred 6 00:00:17,200 --> 00:00:20,279 Speaker 1: climbed zero point eight percent today to eighty nine hundred 7 00:00:20,320 --> 00:00:22,880 Speaker 1: and twenty eight points. That is a great result considering 8 00:00:22,960 --> 00:00:26,280 Speaker 1: only four of the eleven sectors on the ASEX actually 9 00:00:26,280 --> 00:00:28,640 Speaker 1: finished in the green. The heavy lifting was really done 10 00:00:28,680 --> 00:00:32,160 Speaker 1: by the materials and energy sectors. The price of gold 11 00:00:32,159 --> 00:00:35,479 Speaker 1: has surged again two point seven percent today, after climbing 12 00:00:35,479 --> 00:00:38,839 Speaker 1: more than six percent yesterday, is now sitting at around 13 00:00:39,560 --> 00:00:44,400 Speaker 1: five eighty US dollars an ounce. Copper jumped four percent 14 00:00:44,680 --> 00:00:47,400 Speaker 1: two overall, met a good day for the Aussie miners. 15 00:00:47,440 --> 00:00:50,879 Speaker 1: The gold diggers, Northern Star Regius Resources were both up 16 00:00:50,960 --> 00:00:54,760 Speaker 1: around six percent, Newmont more than four percent, and BHP 17 00:00:54,840 --> 00:00:56,560 Speaker 1: and Rio Tinto were both up around four and a 18 00:00:56,600 --> 00:00:59,680 Speaker 1: half percent. The Big Australian share price hit a fifty 19 00:00:59,720 --> 00:01:03,680 Speaker 1: two week high, meaning BHP is once again the biggest 20 00:01:03,720 --> 00:01:08,160 Speaker 1: company on the BOSS, passing Commonwealth Bank again, despite Commonwealth 21 00:01:08,200 --> 00:01:11,160 Speaker 1: Bank actually climbing two point six percent itself today. I 22 00:01:11,240 --> 00:01:14,080 Speaker 1: mentioned the energy stocks. The oil price is climbing and 23 00:01:14,120 --> 00:01:17,800 Speaker 1: that helped energy giants Woodside and Santos. A lot of 24 00:01:17,800 --> 00:01:20,920 Speaker 1: that is due to tensions between Iran and the US 25 00:01:20,959 --> 00:01:23,720 Speaker 1: where a drone has been shot down. The worst on 26 00:01:23,760 --> 00:01:26,160 Speaker 1: the local market today was the tech sector, off more 27 00:01:26,200 --> 00:01:29,039 Speaker 1: than nine percent after a very poor lead in from 28 00:01:29,040 --> 00:01:32,679 Speaker 1: the US tech stocks. Cloud Accounting Group zero was down 29 00:01:32,760 --> 00:01:36,600 Speaker 1: almost sixteen percent today. On to story number two now 30 00:01:36,640 --> 00:01:39,440 Speaker 1: in the federal government will sell off major defense properties 31 00:01:39,480 --> 00:01:42,400 Speaker 1: across Australia in a move expected to raise almost two 32 00:01:42,720 --> 00:01:46,640 Speaker 1: billion dollars for new military equipment and base upgrades. The 33 00:01:46,680 --> 00:01:50,960 Speaker 1: sale will include barracks, training grounds, islands, rifle ranges and 34 00:01:51,040 --> 00:01:55,720 Speaker 1: office buildings, including the historic Victoria Barracks sites in Sydney, 35 00:01:55,840 --> 00:02:00,440 Speaker 1: Melbourne and Brisbane. It will make more than three billion dollars, 36 00:02:00,480 --> 00:02:03,080 Speaker 1: but there will be about a billion dollars in relocation 37 00:02:03,720 --> 00:02:07,279 Speaker 1: and other costs involved in the process. Defense Minister Richard 38 00:02:07,280 --> 00:02:10,519 Speaker 1: Miles says it is the biggest reform of Australia's defense 39 00:02:10,680 --> 00:02:15,360 Speaker 1: estate in history, arguing taxpayers money has been wasted maintaining 40 00:02:15,639 --> 00:02:20,280 Speaker 1: underused sites. Sixty seven locations will be either fully or 41 00:02:20,320 --> 00:02:24,959 Speaker 1: partly sold, proceeds being reinvested into defense capability. Some sites 42 00:02:25,120 --> 00:02:27,120 Speaker 1: may be used for housing, but the government says that 43 00:02:27,240 --> 00:02:30,959 Speaker 1: is not the main goal of this process. Story number three. 44 00:02:31,000 --> 00:02:34,840 Speaker 1: Booming international travel is putting serious pressure on border processing, 45 00:02:34,880 --> 00:02:37,919 Speaker 1: according to Sydney Airport after new data revealed more than 46 00:02:37,960 --> 00:02:41,200 Speaker 1: forty two million passengers passed through the airport last year, 47 00:02:41,440 --> 00:02:45,200 Speaker 1: with international arrivals hitting a record high. Ninety percent of 48 00:02:45,200 --> 00:02:48,440 Speaker 1: passengers queued for up to thirty five minutes at immigration. 49 00:02:48,560 --> 00:02:52,639 Speaker 1: Despite recent upgrades, Airport chief executive Scott Charlton is pushing 50 00:02:52,680 --> 00:02:57,200 Speaker 1: for more government investment into border technology, saying congestions only 51 00:02:57,200 --> 00:03:00,320 Speaker 1: going to get worse as travel continues to grow. Four 52 00:03:00,360 --> 00:03:04,639 Speaker 1: domestic flights and nearly one in three international flights were delayed. 53 00:03:04,840 --> 00:03:07,400 Speaker 1: You might like to know Story number four. A Melbourne 54 00:03:07,480 --> 00:03:10,640 Speaker 1: software engineer sacked for refusing to return to the office 55 00:03:11,160 --> 00:03:14,440 Speaker 1: is appealing his dismissal in a case that could reshape 56 00:03:14,520 --> 00:03:18,680 Speaker 1: remote work rights. Richard Johnson was fired after rejecting his 57 00:03:18,720 --> 00:03:22,480 Speaker 1: company's new hybrid policy, insisting that his contract allowed him 58 00:03:22,480 --> 00:03:25,480 Speaker 1: to work from home full time. The Fair Work Commission 59 00:03:25,560 --> 00:03:28,320 Speaker 1: ruled that the company's order was reasonable, but Johnson is 60 00:03:28,360 --> 00:03:31,880 Speaker 1: now challenging that decision. The appeal will test whether employment 61 00:03:31,919 --> 00:03:36,120 Speaker 1: contracts override workplace policies. A full hearing is expected in April, 62 00:03:36,160 --> 00:03:39,720 Speaker 1: and legal experts say the outcome could affect thousands of workers. 63 00:03:40,280 --> 00:03:43,360 Speaker 1: And finally, story number five, Bill Gates is urging technology 64 00:03:43,360 --> 00:03:46,920 Speaker 1: companies to take greater responsibility for how artificial intelligence is 65 00:03:46,960 --> 00:03:50,280 Speaker 1: developed and used, and says the majority of AI companies 66 00:03:50,320 --> 00:03:53,480 Speaker 1: will fail, with non technical investors facing a challenge in 67 00:03:53,560 --> 00:03:56,360 Speaker 1: picking the ones that are going to succeed. Speaking to 68 00:03:56,360 --> 00:03:59,520 Speaker 1: The Financial Review in Melbourne, the Microsoft founder said AI 69 00:03:59,560 --> 00:04:02,800 Speaker 1: could sooner reshape millions of white collar jobs and that 70 00:04:02,920 --> 00:04:06,240 Speaker 1: companies have a duty to help workers manage the transition. 71 00:04:06,560 --> 00:04:09,680 Speaker 1: He's also faced renewed scrutiny over his past links to 72 00:04:09,760 --> 00:04:13,200 Speaker 1: Jeffrey Epstein. His former wife, Melinda French Gates said this 73 00:04:13,280 --> 00:04:16,320 Speaker 1: week that everyone involved must answer questions, adding that she 74 00:04:16,520 --> 00:04:19,320 Speaker 1: was quote glad to be away from that muck. Gates 75 00:04:19,360 --> 00:04:22,360 Speaker 1: has again denied the claims and called them false. That's 76 00:04:22,400 --> 00:04:25,159 Speaker 1: it for the Afternoon Report for Wednesday, the fourth of 77 00:04:25,200 --> 00:04:27,880 Speaker 1: February twenty twenty six. Make sure you're following the podcast, 78 00:04:27,880 --> 00:04:30,440 Speaker 1: and please head along to Fearangreed dot com dot au 79 00:04:30,720 --> 00:04:32,760 Speaker 1: to sign up for our free daily newsletter. I'll put 80 00:04:32,760 --> 00:04:35,200 Speaker 1: a link in today's show notes as well. I'm Michael Thompson. 81 00:04:35,400 --> 00:04:36,080 Speaker 1: Enjoy your evening.