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Speaker 1: Welcome to the Fear and Greed Business News. The Afternoon

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Speaker 1: Report for Tuesday, the thirteenth of August twenty twenty four.

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Speaker 1: I'm Sean Alma. Every afternoon, we've got the five stories

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Speaker 1: that happened today that you need to know about. Story

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Speaker 1: number one, there's some pas. SEXT two hundred closed up

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Speaker 1: slightly today the eight hundred and twenty eight points, with

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Speaker 1: profit results dominating proceedings broadly, the financials did best and

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Speaker 1: the Healthcare index did worst. The main reason for the

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Speaker 1: drop in the health Care Index was the CSL result.

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Speaker 1: Its share price fell four and a half percent after

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Speaker 1: Australia's second largest company said its core plasma collection business

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Speaker 1: is back on track. However, its vaccine and pharmaceutical operations

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Speaker 1: will not grow as fast in the near term. Also,

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Speaker 1: while revenue was higher, so too we're operating costs outside

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Speaker 1: the reporting companies today as ED and Commwealth Bank led

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Speaker 1: the way, both jumping more than one and a half percent.

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Speaker 1: Westpac rose one percent, as did West Farmers and Goodman Group.

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Speaker 1: Oil giant Santos with another strong performer, ford es Q

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Speaker 1: and yce Tech Global were among the laggards. Story number

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Speaker 1: two Paul Keating and Nancy Pelosi have traded barbes over

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Speaker 1: the status of Taiwan, with a former United States House

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Speaker 1: speaker saying Keating's description of the self governing island as

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Speaker 1: Chinese real estate was a stupid statement. The former Labour

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Speaker 1: Prime minister hit back, declaring Pelosi had been recklessly indulgent

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Speaker 1: and brought the US and China close to war by

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Speaker 1: visiting Taiwan in twenty twenty two, according to a report

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Speaker 1: in the Cydney Morning Herald. In an interview on the

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Speaker 1: ABC seven to thirty program last week, keeping downplayed concerns

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Speaker 1: about a Chinese invasion of Taiwan, saying the island was

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Speaker 1: Chinese real estate. Pelosi responded, also on seven thirty, saying,

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Speaker 1: you don't want to get my description of him for

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Speaker 1: saying that that's ridiculous. It is not Chinese real estate,

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Speaker 1: and he should know that Taiwan is Taiwan and it

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Speaker 1: is the people of Taiwan who have a democracy there.

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Speaker 1: I think that was a stupid statement. Wow, she got him.

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Speaker 1: Story number three Online Jobs Group Week's share price tumble

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Speaker 1: six point six percent today after a significant reduction in

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Speaker 1: job add volumes across Australia, along with an impairment of

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Speaker 1: its investment in Chinese group Zoupin pushed the group's full

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Speaker 1: year earnings to a loss. Chief executive in Nareva didn't

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Speaker 1: have a lot of good news for shareholders, saying the

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Speaker 1: economic situation would weigh further on the company this financial

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Speaker 1: year amid a higher unemployment rate in less demand for hiring.

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Speaker 1: He said, based on macroeconomists forecasts, SEEK had assumed paid

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Speaker 1: ad volumes will continue to fall this financial lim. Revenue

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Speaker 1: last financial year fell seventeen percent, while adjusting net profit

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Speaker 1: fell more than seventy percent. Seek previously announce an impairment

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Speaker 1: charge related to its investment in Zaopin of one hundred

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Speaker 1: and forty one million dollars straightum before packaging giant. Aurora

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Speaker 1: has rejected a three point four billion dollar takeover offer

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Speaker 1: from US private equity group loan Star Fund twelve Acquisitions. Aurora,

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Speaker 1: which reports its earnings tomorrow, said the bid was opportunistic, conditional,

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Speaker 1: and non binding, but that didn't stop the group's share

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Speaker 1: price surging nineteen percent today to two dollars twenty seven.

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Speaker 1: The bid is priced at two dollars fifty five per share,

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Speaker 1: less any dividends declared or payable. The board of Aurora

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Speaker 1: said the bid undervalued the company, and finally, story number

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Speaker 1: five Annuity and funds manage a Challenger said it's selling

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Speaker 1: record numbers of retirement products as retirees and pre retirees

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Speaker 1: worry about cost of living pressures. Challenger announced day seventeen

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Speaker 1: percent increase in profit last financial year thanks to a

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Speaker 1: doubling of sales of its annuity products, which provide a

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Speaker 1: set income for anywhere from two years to the rest

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Speaker 1: of a person's life. The search has come in annuities

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Speaker 1: linked to inflation. Not surprising really. The increase in interest

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Speaker 1: rates in recent years has also helped make annuities more attractive,

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Speaker 1: said Chief executive Nick Hamilton. The funds management business of

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Speaker 1: Challenger reported an eleven percent drop in underlying earnings, even

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Speaker 1: though funds under management rose. Challenges share price closed up

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Speaker 1: six and a half percent. That's it The Afternoon Report

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Speaker 1: for Thursday, the thirteenth of August twenty twenty four. Michael

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Speaker 1: Thompson and I will be back tomorrow morning, Wednesday edition

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Speaker 1: of Fear and Green Business News. I'm Sean Elma. Enjoy

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Speaker 1: your evening.