1 00:00:03,760 --> 00:00:06,400 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,440 --> 00:00:09,280 Speaker 1: for Thursday, the sixth of February twenty twenty five. I'm 3 00:00:09,320 --> 00:00:12,280 Speaker 1: Sean Almer. Every afternoon, we've got the five stories that 4 00:00:12,400 --> 00:00:14,720 Speaker 1: happened today that you need to know about. Story number one, 5 00:00:14,880 --> 00:00:18,640 Speaker 1: the fact that Donald Trump hasn't spoken about tariffs and 6 00:00:19,079 --> 00:00:21,720 Speaker 1: is talking about taking an interest in the Middle Eastern 7 00:00:21,800 --> 00:00:25,840 Speaker 1: Gaza was enough to push the local share market higher. 8 00:00:26,400 --> 00:00:28,840 Speaker 1: Weird as that sounds, just the fact that he was 9 00:00:28,880 --> 00:00:33,240 Speaker 1: focused on non tariff issues helped the boss. In fact, 10 00:00:33,280 --> 00:00:35,639 Speaker 1: it finished up more than one percent to eighty five 11 00:00:35,760 --> 00:00:38,480 Speaker 1: hundred and twenty points. That's only about twelve points off 12 00:00:38,479 --> 00:00:43,080 Speaker 1: its all time high. Interest rate sensitive stocks did very well. 13 00:00:43,159 --> 00:00:46,960 Speaker 1: The consumer discretionary sector did well. Wes Farmers, for example, 14 00:00:47,040 --> 00:00:48,720 Speaker 1: was up three percent. It was the best of the 15 00:00:48,800 --> 00:00:52,080 Speaker 1: large caps. The banks were also higher Commonwealth Bank, National, 16 00:00:52,120 --> 00:00:54,320 Speaker 1: Australia Bank, Westpac A and ZED they were all up 17 00:00:54,360 --> 00:00:56,639 Speaker 1: between two percent and two and a half percent. Gave 18 00:00:56,680 --> 00:00:58,760 Speaker 1: a shout out to Telstra earlier in the week from 19 00:00:58,840 --> 00:01:02,160 Speaker 1: being positive well of the very large caps, it was 20 00:01:02,160 --> 00:01:04,520 Speaker 1: the only one negative today. There you go straight up 21 00:01:04,560 --> 00:01:07,000 Speaker 1: a two real Tinto is looking at green energy from 22 00:01:07,040 --> 00:01:12,040 Speaker 1: its massive aluminum smelter in Queensland, increasingly confident that batteries 23 00:01:12,080 --> 00:01:17,319 Speaker 1: can provide a solution to intermittency issues around renewables. It 24 00:01:17,440 --> 00:01:21,200 Speaker 1: might seem like an inconsequential story to many, but it's not. 25 00:01:21,560 --> 00:01:26,400 Speaker 1: Aluminum smelters use as massive amounts of energy. In fact, 26 00:01:26,400 --> 00:01:29,160 Speaker 1: they're one of the most energy intensive industrial processes around 27 00:01:29,200 --> 00:01:32,080 Speaker 1: the place. Smelters run twenty four hours a day. Now 28 00:01:32,160 --> 00:01:37,920 Speaker 1: renewable struggle to provide consistent energy for smelters. RIO is 29 00:01:37,959 --> 00:01:41,560 Speaker 1: now saying that the fast falling costs of batteries and 30 00:01:41,640 --> 00:01:46,000 Speaker 1: improved ability to store energy means that maybe smelters will 31 00:01:46,000 --> 00:01:50,040 Speaker 1: be able to use green energy. That talking about firming power, 32 00:01:50,280 --> 00:01:52,680 Speaker 1: it's when solar and wind is at low ebbs be 33 00:01:52,760 --> 00:01:55,480 Speaker 1: able to get those batteries to kick in. If it 34 00:01:55,480 --> 00:01:57,880 Speaker 1: can do it at smelters, it probably can do it 35 00:01:57,920 --> 00:01:59,640 Speaker 1: at a bunch of other places. Now, this is the 36 00:01:59,640 --> 00:02:04,000 Speaker 1: first time RIO has spoken about renewables being the one 37 00:02:04,120 --> 00:02:07,400 Speaker 1: hundred percent power source for the aluminium smelters, so it 38 00:02:07,440 --> 00:02:10,960 Speaker 1: is significant. Straight up. Astree online property group Aria has 39 00:02:11,040 --> 00:02:14,200 Speaker 1: kicked off earnings season announcing a twenty six percent jump 40 00:02:14,200 --> 00:02:17,880 Speaker 1: in profit, triggering a three percent rise in its share price. 41 00:02:18,240 --> 00:02:21,919 Speaker 1: Aria is controlled by News Corporation. It's the largest property 42 00:02:22,000 --> 00:02:25,880 Speaker 1: listing platform in the country. It was share prices up 43 00:02:25,960 --> 00:02:28,519 Speaker 1: thirteen percent in just three weeks, thirty five percent in 44 00:02:28,560 --> 00:02:31,040 Speaker 1: the past five months after it walked away from a 45 00:02:31,040 --> 00:02:34,520 Speaker 1: bid for a UK property group. Now, the strong six 46 00:02:34,560 --> 00:02:36,720 Speaker 1: months to the end of December was on the back 47 00:02:36,760 --> 00:02:39,840 Speaker 1: of plenty of listings and the ability to charge good money. 48 00:02:40,160 --> 00:02:43,400 Speaker 1: Sales volumes across the sector are higher, and part of 49 00:02:43,440 --> 00:02:46,480 Speaker 1: that is because buyers benefiting from a moderation in price growth. 50 00:02:46,680 --> 00:02:49,680 Speaker 1: So companies like ARIA in domain only care that there 51 00:02:49,680 --> 00:02:51,799 Speaker 1: are ads. They don't care whether the market's going up 52 00:02:52,000 --> 00:02:55,160 Speaker 1: or down. Its long term boss Owen Wilson, that's Aria's 53 00:02:55,200 --> 00:02:57,480 Speaker 1: long term boss. Owen Wilson been there for six years. 54 00:02:57,800 --> 00:03:00,800 Speaker 1: He today said that he'll step down. Up in Aria's 55 00:03:00,919 --> 00:03:03,760 Speaker 1: revenue and profit helped News Corps overall result as well. 56 00:03:03,840 --> 00:03:06,880 Speaker 1: The media conglomerate reported an increase in revenue and earnings. 57 00:03:06,880 --> 00:03:09,560 Speaker 1: Share price jumped five percent, best of the top two 58 00:03:09,639 --> 00:03:12,720 Speaker 1: hundred today. Now ARIA is part of News Corp, but 59 00:03:12,760 --> 00:03:15,080 Speaker 1: lots of other things. Dow Jones, Wall Street Journal, Times 60 00:03:15,080 --> 00:03:18,720 Speaker 1: of London, The Australian. It also owns Harperclins and Foxtel, 61 00:03:18,760 --> 00:03:21,040 Speaker 1: which is selling in a three point four billion dollar 62 00:03:21,160 --> 00:03:25,000 Speaker 1: deal join Umber four. Last month was the hottest January 63 00:03:25,000 --> 00:03:29,160 Speaker 1: on record, surprising scientists who expected the cooling La Nina 64 00:03:29,280 --> 00:03:32,560 Speaker 1: weather cycle and the tropical Pacific to slow almost two 65 00:03:32,600 --> 00:03:35,960 Speaker 1: years of record high temperatures. January ranked as the third 66 00:03:36,000 --> 00:03:39,600 Speaker 1: hottest month globally on record, with the surface air temperature 67 00:03:39,960 --> 00:03:42,960 Speaker 1: of thirteen point two to three degrees celsius, which is 68 00:03:43,000 --> 00:03:46,800 Speaker 1: one point seven five degrees celsius above the pre industrial average, 69 00:03:47,040 --> 00:03:50,960 Speaker 1: according to the Copernicus Climate Change Service the EUS Earth 70 00:03:51,000 --> 00:03:54,440 Speaker 1: Observation Agency. The warming is set to fuel concerns that 71 00:03:54,480 --> 00:03:57,680 Speaker 1: climate change is accelerating at a time when countries like 72 00:03:57,720 --> 00:04:02,280 Speaker 1: the US are pulling back on commitments to reducemissions. Bill maguire, Emeritus, 73 00:04:02,360 --> 00:04:05,880 Speaker 1: Professor of Geophysical and Climate Hazards at ucl SO the 74 00:04:05,960 --> 00:04:10,400 Speaker 1: January data was both astonishing and frankly terrifying. He went 75 00:04:10,440 --> 00:04:13,440 Speaker 1: on to say, on the basis of the Valentia floods 76 00:04:13,440 --> 00:04:17,440 Speaker 1: in the apocalyptic Los Angeles wildfires, I don't think there 77 00:04:17,480 --> 00:04:21,039 Speaker 1: can be any doubt that dangerous or pervasive climate breakdown 78 00:04:21,360 --> 00:04:24,400 Speaker 1: has arrived and story at number five. Global consulting firm 79 00:04:24,480 --> 00:04:28,520 Speaker 1: McKenzie is considering withdrawing from China, worried that doing business 80 00:04:28,520 --> 00:04:31,640 Speaker 1: there isn't worth the risk given the tense relationship between 81 00:04:31,680 --> 00:04:35,320 Speaker 1: Washington and Beijing. Some senior partners have been voicing concerns 82 00:04:35,320 --> 00:04:38,040 Speaker 1: since late last year, even before Donald Trump was reelected. 83 00:04:38,080 --> 00:04:42,000 Speaker 1: According to Bloomberg, the lucrative North American business can more 84 00:04:42,000 --> 00:04:45,080 Speaker 1: than offset a China retreat, or at least some partners 85 00:04:45,080 --> 00:04:47,920 Speaker 1: believe that. Currently McKinsey has offices in one hundred and 86 00:04:48,000 --> 00:04:51,039 Speaker 1: thirty cities and sixty five countries. It has a stated 87 00:04:51,080 --> 00:04:54,320 Speaker 1: goal to expand, not to shrink. A record number of 88 00:04:54,400 --> 00:04:57,840 Speaker 1: US companies in China, About thirty percent are actually thinking 89 00:04:57,960 --> 00:05:00,640 Speaker 1: of moving some operations out of the country or are 90 00:05:00,800 --> 00:05:04,000 Speaker 1: already doing so, according to a recent survey published by 91 00:05:04,000 --> 00:05:06,720 Speaker 1: the American Chamber of Commerce in China. That's it for 92 00:05:06,720 --> 00:05:09,320 Speaker 1: the Afternoon Report for Thursday, the sixth of February twenty 93 00:05:09,360 --> 00:05:11,520 Speaker 1: twenty five. Make sure you hit follow on the podcast. 94 00:05:11,800 --> 00:05:13,760 Speaker 1: We'll be back tomorrow morning with the Friday edition of 95 00:05:13,839 --> 00:05:17,000 Speaker 1: Fear and Greed Business News. I'm Schanielma. Enjoy your evening.