1 00:00:06,080 --> 00:00:08,960 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:09,000 --> 00:00:11,480 Speaker 1: for Tuesday, the fourth of March twenty twenty five. I'm 3 00:00:11,520 --> 00:00:14,680 Speaker 1: Sean Almer. Every afternoon, we've got the five stories that 4 00:00:14,800 --> 00:00:17,080 Speaker 1: happened today that you need to know about. Story number one. 5 00:00:17,120 --> 00:00:20,200 Speaker 1: The SMPA SX two hundred closed down a zero point 6 00:00:20,320 --> 00:00:23,640 Speaker 1: six percent to eighty one hundred and ninety eight points. 7 00:00:23,720 --> 00:00:26,040 Speaker 1: It dropped more than one percent this morning following a 8 00:00:26,120 --> 00:00:30,120 Speaker 1: poor leading from Wall Street, and then recovered somewhat. The 9 00:00:30,200 --> 00:00:33,600 Speaker 1: healthcare sub index was the only one of eleven in 10 00:00:33,640 --> 00:00:36,159 Speaker 1: the black today. That's thanks to CSL, which was up 11 00:00:36,200 --> 00:00:40,400 Speaker 1: one percent. Worst worthy energy stocks among the large caps, 12 00:00:40,440 --> 00:00:43,680 Speaker 1: fortes Q, Medals Group, Woodside, Santos, and Origin Energy all 13 00:00:43,760 --> 00:00:46,400 Speaker 1: dropped by more than three percent. Ten year bond yields 14 00:00:46,440 --> 00:00:49,240 Speaker 1: fell to their lowest level this year as demand for 15 00:00:49,280 --> 00:00:52,360 Speaker 1: the ultra safe assets increased. If demand rises, the price 16 00:00:52,400 --> 00:00:55,880 Speaker 1: of a bond increases, meaning the return or yield falls. 17 00:00:56,520 --> 00:00:58,920 Speaker 1: Story number two. The release of the Reserve Bank Board 18 00:00:59,000 --> 00:01:02,840 Speaker 1: mints today shows it's pretty clear that there's no certainty 19 00:01:02,880 --> 00:01:07,160 Speaker 1: about another interest rate cut. On balance, the Board said 20 00:01:07,280 --> 00:01:10,240 Speaker 1: the case to lower interest rates two weeks ago was 21 00:01:10,280 --> 00:01:15,600 Speaker 1: stronger than keeping rates on hold. Underlying inflation continues to fall, 22 00:01:15,840 --> 00:01:19,399 Speaker 1: it's actually falling faster than the Board expected, and that 23 00:01:19,560 --> 00:01:22,120 Speaker 1: meant that the Board didn't need the insurance taken out 24 00:01:22,160 --> 00:01:24,399 Speaker 1: when they were raising cash rates back in November twenty 25 00:01:24,520 --> 00:01:27,320 Speaker 1: twenty three, hence the twenty five bases point cut two 26 00:01:27,360 --> 00:01:31,040 Speaker 1: weeks ago. However, the minutes say that members agree that 27 00:01:31,080 --> 00:01:33,880 Speaker 1: their decision at this meeting did not commit them to 28 00:01:33,959 --> 00:01:37,160 Speaker 1: further reductions in the cash rate target at subsequent meetings. 29 00:01:37,600 --> 00:01:41,759 Speaker 1: Sorry number three. Brisbane, Southeast Queensland and northern New South 30 00:01:41,800 --> 00:01:45,280 Speaker 1: Wales are preparing for Cyclone Alfred, with up to a 31 00:01:45,360 --> 00:01:48,480 Speaker 1: meter of rain forecast and wins in excess of one 32 00:01:48,520 --> 00:01:51,640 Speaker 1: hundred kilometers an hour for some areas. Beaches from the 33 00:01:51,680 --> 00:01:55,000 Speaker 1: Sunshine Coast to Barron Bay have been closed. The region 34 00:01:55,200 --> 00:01:57,920 Speaker 1: is home to at least four million people, and the 35 00:01:58,000 --> 00:02:02,120 Speaker 1: storm has intensified to a category to cyclaim. It's expected 36 00:02:02,160 --> 00:02:05,800 Speaker 1: to make landfall on Thursday now. Residents of Southeast Queensland 37 00:02:05,800 --> 00:02:08,200 Speaker 1: have been told to prepare for up to three days 38 00:02:08,200 --> 00:02:11,680 Speaker 1: of power outages. Alfred was five hundred and sixty kilometers 39 00:02:11,800 --> 00:02:15,480 Speaker 1: east of Brisbane this morning, moving south to southeast at 40 00:02:15,480 --> 00:02:18,520 Speaker 1: about six kilometers an hour. It's expected to turn west 41 00:02:18,639 --> 00:02:22,320 Speaker 1: towards the coast by this evening, The Bureau of Meteorology 42 00:02:22,400 --> 00:02:26,440 Speaker 1: says story number four. Health Scope, Australia's second largest private 43 00:02:26,480 --> 00:02:29,560 Speaker 1: hospital operator, has failed to pay all the rent due 44 00:02:29,600 --> 00:02:32,840 Speaker 1: for March on eleven of its facilities owned by listed 45 00:02:32,840 --> 00:02:36,880 Speaker 1: property group health Co Healthcare and Wellness. Health Co. Healthcare 46 00:02:37,240 --> 00:02:40,880 Speaker 1: says its issued breach notices to health Scope for failing 47 00:02:40,919 --> 00:02:43,880 Speaker 1: to pay all the rent due. Part payment has been received. 48 00:02:44,320 --> 00:02:46,720 Speaker 1: The property company said it would seek to replace health 49 00:02:46,760 --> 00:02:50,959 Speaker 1: Scope tenancies with other hospital operators if the breaches are 50 00:02:51,000 --> 00:02:54,440 Speaker 1: not remedied. Health Scope is owned by p group Brookfields. 51 00:02:54,480 --> 00:02:56,799 Speaker 1: It's got a stack of debt about one point six 52 00:02:56,840 --> 00:03:00,240 Speaker 1: billion dollars and it's been trying to renegotiate turns. It 53 00:03:00,280 --> 00:03:04,080 Speaker 1: owns hospitals, including Sydney's Northern Beaches Hospital and Gold Coast 54 00:03:04,160 --> 00:03:07,240 Speaker 1: Private Hospital. Brook Field's been forced to put more money 55 00:03:07,280 --> 00:03:10,600 Speaker 1: into the business and in essence it doesn't make enough money, 56 00:03:10,639 --> 00:03:12,400 Speaker 1: or at least the hospitals don't make enough money for 57 00:03:12,400 --> 00:03:15,440 Speaker 1: brook Field. But hospital's are very important pieces of the 58 00:03:15,520 --> 00:03:19,000 Speaker 1: nation's health puzzle, so selling assets or closing facilities Ain't 59 00:03:19,000 --> 00:03:22,760 Speaker 1: that easy? Health Co Healthcare share price, which owns the properties, 60 00:03:23,000 --> 00:03:26,240 Speaker 1: fell seven percent today and story number five. US President 61 00:03:26,240 --> 00:03:29,519 Speaker 1: Donald Trump is pressing ahead with imposing tariffs of twenty 62 00:03:29,600 --> 00:03:34,000 Speaker 1: five percent on all imports from Canada and Mexico from tomorrow, 63 00:03:34,400 --> 00:03:37,440 Speaker 1: saying there is no room for last minute negotiations. The 64 00:03:37,480 --> 00:03:40,320 Speaker 1: decision triggered a sell off on Wall Street. Last month, 65 00:03:40,320 --> 00:03:43,680 Speaker 1: the President issued an executive order applying additional tariffs of 66 00:03:43,760 --> 00:03:46,440 Speaker 1: twenty five percent to all imports from Canada and Mexico, 67 00:03:46,800 --> 00:03:50,119 Speaker 1: with the exception of Canadian oil and energy products, which 68 00:03:50,120 --> 00:03:52,760 Speaker 1: will face a ten percent levy. The tariffs were delayed 69 00:03:52,760 --> 00:03:55,600 Speaker 1: for one month, but now Trump seems to want manufacturers 70 00:03:55,640 --> 00:03:58,800 Speaker 1: to build factories in the US. His quote, so what 71 00:03:58,840 --> 00:04:01,080 Speaker 1: they have to do is build their car plans, frankly 72 00:04:01,160 --> 00:04:03,640 Speaker 1: and other things in the United States, in which case 73 00:04:03,680 --> 00:04:07,840 Speaker 1: they have no tariffs, he said. Canada responded immediately, putting 74 00:04:07,880 --> 00:04:10,600 Speaker 1: tariffs on one hundred and sixty one billion dollars worth 75 00:04:10,640 --> 00:04:13,760 Speaker 1: of US products. That's it for the Afternoon Report for Tuesday, 76 00:04:13,840 --> 00:04:15,800 Speaker 1: the fourth of March twenty twenty five. Make sure you 77 00:04:15,920 --> 00:04:18,440 Speaker 1: hit follow on the podcast. We'll be back tomorrow morning 78 00:04:18,520 --> 00:04:21,080 Speaker 1: with the Wednesday edition off Hear and Greed Business News. 79 00:04:21,160 --> 00:04:23,320 Speaker 1: I'm Sean Alma. Enjoy your evening.