1 00:00:04,120 --> 00:00:06,880 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,920 --> 00:00:09,440 Speaker 1: for Friday, the eleventh of April twenty twenty five. I'm 3 00:00:09,440 --> 00:00:12,239 Speaker 1: suan Alma. Every afternoon, We've got the five stories that 4 00:00:12,320 --> 00:00:14,720 Speaker 1: happened today that you need to know about. Story number one. 5 00:00:14,760 --> 00:00:17,279 Speaker 1: The local share market fell nearly one percent today to 6 00:00:17,400 --> 00:00:20,880 Speaker 1: seven six hundred and forty six points, retracing some of 7 00:00:20,960 --> 00:00:25,079 Speaker 1: yesterday's big gains. It actually fell almost two percent, then 8 00:00:25,239 --> 00:00:28,800 Speaker 1: spent most of the day recovering. Technology, energy and bank 9 00:00:28,840 --> 00:00:31,880 Speaker 1: stocks fell sharply, while energy stocks also dropped on the 10 00:00:31,920 --> 00:00:35,360 Speaker 1: back of lower oil prices. CSL and BHP were particularly 11 00:00:35,440 --> 00:00:38,320 Speaker 1: hard hit. At the other end of the spectrum, gold 12 00:00:38,360 --> 00:00:40,720 Speaker 1: miners did well. The precious metal hit a record high 13 00:00:40,720 --> 00:00:44,040 Speaker 1: today of three thousand, two hundred and twenty dollars and 14 00:00:44,159 --> 00:00:48,560 Speaker 1: eight US cents. That's announced it pushed up gold stocks. 15 00:00:48,600 --> 00:00:51,400 Speaker 1: In fact, the top five performers on the ASEX two 16 00:00:51,440 --> 00:00:54,920 Speaker 1: hundred today were gold stocks. Story number two. Opposition leader 17 00:00:54,920 --> 00:00:58,360 Speaker 1: Peter Dunton was allegedly the target of a Brisbane schoolboy's 18 00:00:58,480 --> 00:01:02,720 Speaker 1: failed attempt at terrorist attack. The sixteen year old allegedly 19 00:01:02,880 --> 00:01:05,759 Speaker 1: bought ingredients to make homemade bombs and was testing them 20 00:01:05,800 --> 00:01:09,240 Speaker 1: before planning to attack Dunn's home in Brisbane's North. According 21 00:01:09,240 --> 00:01:11,679 Speaker 1: to The Australian, Dunton was asked how he felt when 22 00:01:11,680 --> 00:01:15,120 Speaker 1: the Australian Federal Police told him of the failed terror plot. 23 00:01:15,360 --> 00:01:17,760 Speaker 1: He said his thoughts were always around the safety of 24 00:01:17,840 --> 00:01:20,600 Speaker 1: his family. He also said the Australian Federal Police do 25 00:01:20,680 --> 00:01:23,560 Speaker 1: a great job. Anthony Alberanze said he reached out to 26 00:01:23,680 --> 00:01:26,399 Speaker 1: Peter Dutton on hearing that the Prime Minister said He's 27 00:01:26,400 --> 00:01:29,959 Speaker 1: also been part of a series of threatening incidents, one 28 00:01:30,040 --> 00:01:34,120 Speaker 1: that is currently before a legal process story number three. 29 00:01:34,440 --> 00:01:37,960 Speaker 1: Staying in politics, Anthony Albernese he says he supports Australia's 30 00:01:37,959 --> 00:01:42,039 Speaker 1: defense packed with the US. After Donald Trump tasked Elon 31 00:01:42,160 --> 00:01:45,559 Speaker 1: Musk with improving US capability to build the submarines, Trump 32 00:01:45,640 --> 00:01:48,360 Speaker 1: signed an executive order this morning that seeks to revive 33 00:01:48,480 --> 00:01:52,640 Speaker 1: US shipbuilding and will dispatch Musk's Efficiency Group to investigate 34 00:01:52,680 --> 00:01:56,240 Speaker 1: how the US Navy fell so far behind in turning 35 00:01:56,240 --> 00:02:00,000 Speaker 1: out vessels. The orders intended to blunt China's maritime dominance 36 00:02:00,080 --> 00:02:03,560 Speaker 1: by offering new funding streams to support American shipbuilding. According 37 00:02:03,560 --> 00:02:06,880 Speaker 1: to Bloomberg, the executive ordered directs fees and tarifs collected 38 00:02:06,880 --> 00:02:11,000 Speaker 1: from Chinese affiliated vessels and cargo handling equipment such as cranes, 39 00:02:11,360 --> 00:02:14,560 Speaker 1: to create a new revenue stream for investment in domestic 40 00:02:14,840 --> 00:02:18,320 Speaker 1: maritime industries, the official said. Now Anthony Abernezi was asked 41 00:02:18,360 --> 00:02:20,760 Speaker 1: repeatedly if he'd look at any changes to the arrangement 42 00:02:20,840 --> 00:02:25,000 Speaker 1: given Musk's involvement. He said he supports the current arrangements, 43 00:02:25,120 --> 00:02:28,280 Speaker 1: adding I'm confident about ORCUST because I had those first 44 00:02:28,320 --> 00:02:30,760 Speaker 1: hand discussions with the President of the United States and 45 00:02:30,800 --> 00:02:32,760 Speaker 1: also with more than one hundred members of Congress in 46 00:02:32,800 --> 00:02:35,799 Speaker 1: the Senate during my state visit to the US straight 47 00:02:35,919 --> 00:02:38,440 Speaker 1: um before Reserve Bank Governor Michelle Bullock says the turmoil 48 00:02:38,720 --> 00:02:42,280 Speaker 1: moyle claused by Donald Trump's trade war is not as 49 00:02:42,360 --> 00:02:45,120 Speaker 1: bad as the two thousand and eight global financial crisis, 50 00:02:45,160 --> 00:02:48,040 Speaker 1: hosing down calls for an emergency rate cut. Speaking for 51 00:02:48,080 --> 00:02:50,720 Speaker 1: the first time since Trump announced a sweeping set of 52 00:02:50,720 --> 00:02:54,160 Speaker 1: global tarists last week, Bullocks sought to project calm. She 53 00:02:54,200 --> 00:02:56,280 Speaker 1: said on our quote, it will take some time to 54 00:02:56,320 --> 00:02:58,960 Speaker 1: see how all of this plays out, and the added 55 00:02:59,040 --> 00:03:02,000 Speaker 1: unpredictability means we need to be patient as we work 56 00:03:02,080 --> 00:03:05,720 Speaker 1: through how all of this could effect demand and supply globally. 57 00:03:06,040 --> 00:03:08,520 Speaker 1: Bullock said the ructions caused by the tariffs were not 58 00:03:08,600 --> 00:03:10,360 Speaker 1: the same as the GFC in two thousand and eight, 59 00:03:10,360 --> 00:03:13,200 Speaker 1: when the Reserve Bank cut the cash rate by nearly 60 00:03:13,360 --> 00:03:16,840 Speaker 1: four percentage points in a matter of months. And story 61 00:03:16,919 --> 00:03:20,280 Speaker 1: number five, Beijing has reduced the number of Hollywood films 62 00:03:20,280 --> 00:03:23,120 Speaker 1: it will allow to screen in China, and Washington has 63 00:03:23,160 --> 00:03:27,280 Speaker 1: hiked tariffs on parcels carrying goods from Chinese retailers like Timu. 64 00:03:27,639 --> 00:03:30,560 Speaker 1: As Jijingping and Donald Trump continue to counter punch in 65 00:03:30,639 --> 00:03:34,840 Speaker 1: their trade battle, using a justification it employed at the 66 00:03:34,840 --> 00:03:38,120 Speaker 1: start of its twenty twenty trade assault on Australia. Beijing 67 00:03:38,200 --> 00:03:42,080 Speaker 1: claimed its heightened restrictions on America movies was the response 68 00:03:42,120 --> 00:03:46,200 Speaker 1: to Chinese public sentiment. According to the OS, the new restriction, 69 00:03:46,320 --> 00:03:48,560 Speaker 1: which will limit already tight quotas on the number of 70 00:03:48,560 --> 00:03:51,200 Speaker 1: foreign films allowed to screen in the country, came as 71 00:03:51,200 --> 00:03:54,800 Speaker 1: state media amplified Beijing's warnings about safety concerns for Chinese 72 00:03:54,840 --> 00:03:58,920 Speaker 1: citizens considering travel or study in America. That's if the 73 00:03:58,960 --> 00:04:02,000 Speaker 1: Afternoon Report for the eleventh of April twenty twenty five. 74 00:04:02,040 --> 00:04:04,000 Speaker 1: Make sure you hit follow on the podcast We will 75 00:04:04,040 --> 00:04:06,200 Speaker 1: be back tomorrow morning with the weekend edition of the 76 00:04:06,200 --> 00:04:09,240 Speaker 1: past five business news by Fear and Gree. I'm Sean Elma. 77 00:04:09,720 --> 00:04:10,360 Speaker 1: Enjoy your evening.