1
00:00:03,600 --> 00:00:06,200
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:06,240 --> 00:00:08,760
Speaker 1: for Friday, the seventh of February twenty twenty five. I'm

3
00:00:08,800 --> 00:00:11,840
Speaker 1: Sean A. Elmer. Every afternoon, we've got the five stories

4
00:00:11,880 --> 00:00:13,960
Speaker 1: that have happened today that you need to know about. Strotum

5
00:00:14,000 --> 00:00:17,439
Speaker 1: on the SMPASX two hundred closed down just to touch

6
00:00:17,480 --> 00:00:20,919
Speaker 1: today zero point one percent to eighty five hundred and

7
00:00:21,000 --> 00:00:23,000
Speaker 1: eleven points. It was a bit of a mixed day.

8
00:00:23,040 --> 00:00:25,760
Speaker 1: The big banks were higher, so to the big miners,

9
00:00:25,760 --> 00:00:30,760
Speaker 1: but CSL, Macquarie, West Farmers and Aristocrat Leisure were all lower.

10
00:00:31,200 --> 00:00:34,559
Speaker 1: After all the Donald Trump related headlines, it seems like

11
00:00:34,800 --> 00:00:38,239
Speaker 1: quiet session today. Dominos was the best performer after the

12
00:00:38,240 --> 00:00:40,879
Speaker 1: group said it will cut two hundred stores globally, including

13
00:00:40,920 --> 00:00:43,599
Speaker 1: one hundred and seventy two in loss making Japan. It's

14
00:00:43,680 --> 00:00:47,440
Speaker 1: share price jump twenty one percent. Collins Foods, owner of KFC,

15
00:00:47,760 --> 00:00:50,479
Speaker 1: also did well, rising more than twelve percent. Energy and

16
00:00:50,560 --> 00:00:53,720
Speaker 1: healthcare stocks were among the worst performers. Transurban and Telstra

17
00:00:53,840 --> 00:00:56,520
Speaker 1: were also lower. Storro at number two. The federal government

18
00:00:56,520 --> 00:00:59,000
Speaker 1: will commit eight hundred and forty two million dollars over

19
00:00:59,040 --> 00:01:02,800
Speaker 1: six years to strengthen the delivery of services in remote

20
00:01:02,800 --> 00:01:07,960
Speaker 1: communities in the Northern Territory, including policing, women's safety, alcohol

21
00:01:08,080 --> 00:01:12,720
Speaker 1: harm reduction and mediation and peacekeeping activities. The announcement came

22
00:01:12,800 --> 00:01:15,560
Speaker 1: after the Prime Minister arrived in Alice Springs last night

23
00:01:15,880 --> 00:01:19,040
Speaker 1: and just over a week after Peter Dutton visited the region.

24
00:01:19,360 --> 00:01:22,039
Speaker 1: Alice has been hit by crime, domestic violence and anti

25
00:01:22,040 --> 00:01:25,679
Speaker 1: social behavior. The Albansian Northern Territory governments have signed an

26
00:01:25,720 --> 00:01:30,440
Speaker 1: agreement to deliver the NT Remote Aboriginal Investment, a commitment

27
00:01:30,560 --> 00:01:33,400
Speaker 1: designed to offer certainty on more than five hundred and

28
00:01:33,440 --> 00:01:36,919
Speaker 1: seventy jobs and ensure remote First Nations communities can access

29
00:01:37,080 --> 00:01:40,840
Speaker 1: services needed to close the gap. The agreement will increase

30
00:01:40,920 --> 00:01:44,600
Speaker 1: funding for Aboriginal interpreter services and deliver new funding for

31
00:01:44,680 --> 00:01:49,720
Speaker 1: community development, mediation and peacekeeping activities. Sorry Number three Nick

32
00:01:49,760 --> 00:01:53,280
Speaker 1: Scary reported today and boss Anthony Scarley was very upbeat

33
00:01:53,320 --> 00:01:56,640
Speaker 1: about the retailer's push into the United Kingdom, saying its

34
00:01:56,640 --> 00:02:01,160
Speaker 1: sofas and Swivill armchairs are being bought up by English shoppers.

35
00:02:01,600 --> 00:02:05,000
Speaker 1: The company posts a small loss for the December six months,

36
00:02:05,000 --> 00:02:07,840
Speaker 1: but investors liked what they heard. Its share price jump

37
00:02:07,920 --> 00:02:12,120
Speaker 1: twelve percent today. Scarly's is one of the first consumer

38
00:02:12,200 --> 00:02:16,400
Speaker 1: discretionary stocks to report. Now, consumer discretionary stocks have done

39
00:02:16,560 --> 00:02:20,040
Speaker 1: really well on the ASX this year, and anticipation of

40
00:02:20,160 --> 00:02:23,720
Speaker 1: strong earnings, I think Scarley did not disappoint today. However,

41
00:02:24,040 --> 00:02:27,480
Speaker 1: Anthony Scarley warned that demand for big ticket furniture items

42
00:02:27,480 --> 00:02:31,119
Speaker 1: in Australia and New Zealand fell in January. He said

43
00:02:31,160 --> 00:02:34,440
Speaker 1: trading was very volatile week to week. Story number four.

44
00:02:34,440 --> 00:02:37,320
Speaker 1: Woodside Energy's boss Meg O'Neil has come out swinging against

45
00:02:37,320 --> 00:02:40,120
Speaker 1: the Victorian and federal government, saying it is too late

46
00:02:40,160 --> 00:02:44,640
Speaker 1: to avoid an economically damaging gas shortfall in Victoria. She

47
00:02:44,720 --> 00:02:48,680
Speaker 1: blamed a decade of political opposition to the fossil fuel industry.

48
00:02:49,160 --> 00:02:51,280
Speaker 1: O'Neill believes it is too late to avert a short

49
00:02:51,280 --> 00:02:55,240
Speaker 1: fall as developers such as Woodside remain wary of Victoria's

50
00:02:55,280 --> 00:02:59,960
Speaker 1: skeptical attitude towards the fuel source. I quote ideology has

51
00:03:00,000 --> 00:03:02,480
Speaker 1: stood in the way of sensible energy investment. In times

52
00:03:02,520 --> 00:03:05,760
Speaker 1: of crisis, things can move quickly. We'd like them to

53
00:03:05,800 --> 00:03:08,720
Speaker 1: move before you get a crisis. The comments underscore the

54
00:03:08,760 --> 00:03:12,280
Speaker 1: expectation that Victoria, Australia's most gas dependent state, will be

55
00:03:12,320 --> 00:03:15,000
Speaker 1: forced to import LNG in a move that could in

56
00:03:15,040 --> 00:03:18,040
Speaker 1: the short term add to price pressures, according to a

57
00:03:18,080 --> 00:03:21,440
Speaker 1: report in The Australian Today and Story A Number five.

58
00:03:21,520 --> 00:03:24,359
Speaker 1: Amazon last night warned investors that it could face capacity

59
00:03:24,400 --> 00:03:28,320
Speaker 1: constraints in its cloud computing division, despite plans to invest

60
00:03:28,400 --> 00:03:32,680
Speaker 1: some one hundred billion US dollars this year, most of

61
00:03:32,720 --> 00:03:35,720
Speaker 1: the money going towards data centers, homegrown chips, and other

62
00:03:35,800 --> 00:03:40,560
Speaker 1: equipment to provide AI services. Chief Executive Officer Andy Jasse

63
00:03:40,760 --> 00:03:44,400
Speaker 1: wants Amazon to become an AI submarket and is spending

64
00:03:44,440 --> 00:03:48,480
Speaker 1: big to retain the company's aging cloud computing services, but

65
00:03:48,560 --> 00:03:51,600
Speaker 1: he warned growth will be lumpy and hinted at Amazon

66
00:03:51,640 --> 00:03:55,000
Speaker 1: could face capacity issues related to delays in getting hardware

67
00:03:55,280 --> 00:03:59,400
Speaker 1: and not having sufficient electricity. According to a report on Bloomberg,

68
00:03:59,640 --> 00:04:02,360
Speaker 1: that can turns echoed as a rival Microsoft Corp, Which

69
00:04:02,400 --> 00:04:05,920
Speaker 1: last week said its cloud sales growth was hurt because

70
00:04:05,960 --> 00:04:08,160
Speaker 1: it didn't have enough data centers to handle demand for

71
00:04:08,200 --> 00:04:11,400
Speaker 1: its AI products. That's it the Afternoon Report for Friday,

72
00:04:11,440 --> 00:04:13,760
Speaker 1: the seventh of February twenty twenty five. Make sure you

73
00:04:13,840 --> 00:04:16,080
Speaker 1: hit follow on the podcast. We will be back tomorrow

74
00:04:16,080 --> 00:04:18,800
Speaker 1: morning with a weekend edition off Fear and Greed Business News.

75
00:04:18,920 --> 00:04:20,920
Speaker 1: I'm chanelma enjoy your evening.