1 00:00:03,800 --> 00:00:06,560 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,600 --> 00:00:09,320 Speaker 1: for Monday, the twenty third September twenty twenty four. I'm 3 00:00:09,320 --> 00:00:12,000 Speaker 1: Sean Elmer. Every afternoon, We've got the five stories have 4 00:00:12,039 --> 00:00:14,120 Speaker 1: happened today that you need to know about. Story number one. 5 00:00:14,160 --> 00:00:17,680 Speaker 1: The SMPASX two hundred close down zero point seven percent 6 00:00:17,720 --> 00:00:20,560 Speaker 1: today to eighty one hundred and fifty three points. It 7 00:00:20,720 --> 00:00:24,360 Speaker 1: was the first negative session in eight trading days. Consumer 8 00:00:24,400 --> 00:00:27,240 Speaker 1: stocks fell, most led by woolies and coals. They both 9 00:00:27,240 --> 00:00:30,520 Speaker 1: lost more than three percent after the corporate regulator alleged 10 00:00:30,760 --> 00:00:34,519 Speaker 1: that the supermarket giants claimed they were dropping prices on 11 00:00:34,600 --> 00:00:37,960 Speaker 1: hundreds of products when they were actually increasing them, thereby 12 00:00:38,120 --> 00:00:41,559 Speaker 1: misleading customers. Ongoing concerns about the strength of the Chinese 13 00:00:41,600 --> 00:00:44,839 Speaker 1: economies putting pressure on iron ore prices and subsequently the 14 00:00:44,880 --> 00:00:48,199 Speaker 1: big miners fell today. Gold miners did well as a 15 00:00:48,240 --> 00:00:51,880 Speaker 1: precious metal pushed a new high above twenty six thirty 16 00:00:51,880 --> 00:00:54,960 Speaker 1: one US dollars an ounce, and the uranium miners, including 17 00:00:54,960 --> 00:00:58,280 Speaker 1: Boss Energy, Deep Yellow and palead and Energy surged after 18 00:00:58,360 --> 00:01:00,840 Speaker 1: news at a major nuclear power play in the US 19 00:01:01,080 --> 00:01:03,680 Speaker 1: is reopening. The big banks were mixed. Webjet was the 20 00:01:03,720 --> 00:01:06,720 Speaker 1: biggest lag Art, falling eleven percent. That's after it emerged 21 00:01:06,760 --> 00:01:10,480 Speaker 1: into two companies, Webjet Group, which has a separate listing 22 00:01:10,480 --> 00:01:13,640 Speaker 1: on the ASEX and web Travel Group sorry number two 23 00:01:13,640 --> 00:01:16,920 Speaker 1: fetch A Building the struggling Building Materials Group says it 24 00:01:17,000 --> 00:01:20,040 Speaker 1: expects sales volumes to fall bay up to fifteen percent 25 00:01:20,400 --> 00:01:22,800 Speaker 1: in Australia and New Zealand. It was in the market 26 00:01:22,959 --> 00:01:25,600 Speaker 1: raising about seven hundred million New Zealand that's six forty 27 00:01:25,600 --> 00:01:28,919 Speaker 1: one million Ozzie to shore up its finances and cut debts. 28 00:01:29,080 --> 00:01:31,920 Speaker 1: Shares are expected to recommence in the next couple of days. 29 00:01:32,240 --> 00:01:36,279 Speaker 1: There were some big contract announcements today. Engineering group Walley 30 00:01:36,360 --> 00:01:39,080 Speaker 1: share price fell nearly one percent after it signed a 31 00:01:39,080 --> 00:01:42,679 Speaker 1: five year DAAL to provide services in Aman Minor South 32 00:01:42,680 --> 00:01:45,959 Speaker 1: thirty two. Hermosa project in Arizona has been selected for 33 00:01:46,000 --> 00:01:48,880 Speaker 1: a one hundred and sixty six million US dollar award 34 00:01:48,920 --> 00:01:51,960 Speaker 1: negotiation from the US Department of Energy. Its share price 35 00:01:52,040 --> 00:01:55,200 Speaker 1: was flat, and defense shipbuilder Ostil one a one hundred 36 00:01:55,240 --> 00:01:57,800 Speaker 1: and fifty two million US dollar contract with the US 37 00:01:57,880 --> 00:02:01,240 Speaker 1: Navy to support the delivery of one Columbia Class and 38 00:02:01,280 --> 00:02:04,520 Speaker 1: two Virginia Class submarines. Its share price rose almost two 39 00:02:04,560 --> 00:02:06,840 Speaker 1: and a half percent. Also a couple of smaller m 40 00:02:06,880 --> 00:02:10,160 Speaker 1: and A announcements on cology company Talix Pharmaceuticals is expanding 41 00:02:10,160 --> 00:02:13,440 Speaker 1: in North America with the acquisition of US based URLs 42 00:02:13,440 --> 00:02:16,119 Speaker 1: for an upfront cash payment of two hundred and thirty 43 00:02:16,160 --> 00:02:19,960 Speaker 1: million US and pathology company Helius is selling Loomis Imaging 44 00:02:20,320 --> 00:02:22,800 Speaker 1: for an enterprise value of about nine hundred and sixty 45 00:02:22,840 --> 00:02:26,040 Speaker 1: five million dollars. Story number three. Regulators in the federal 46 00:02:26,040 --> 00:02:29,920 Speaker 1: government want to license crypto operators under corporation's law, and 47 00:02:30,000 --> 00:02:34,079 Speaker 1: the Albanezi government is preparing legislation to require crypto exchanges 48 00:02:34,360 --> 00:02:37,800 Speaker 1: to hold financial service licenses That would set down rules 49 00:02:37,800 --> 00:02:41,040 Speaker 1: for custody of digital assets to reduce risks for investors 50 00:02:41,040 --> 00:02:44,000 Speaker 1: in theory at least, and it would hit cryptocurrencies like 51 00:02:44,040 --> 00:02:47,480 Speaker 1: bitcoin and ethereum. The plan had been to release and 52 00:02:47,560 --> 00:02:49,959 Speaker 1: exposure draft this year, but it's unclear whether the bill 53 00:02:49,960 --> 00:02:52,799 Speaker 1: will appear before the next federal election. According to the AFR, 54 00:02:53,360 --> 00:02:57,200 Speaker 1: today it held a cryptocurrency summit. Asset Commissioner Alan Kirkland 55 00:02:57,240 --> 00:03:01,160 Speaker 1: was there. He said licensing requirements will denned beyond digital 56 00:03:01,160 --> 00:03:05,640 Speaker 1: currency exchanges to operators because asset considers most major crypto 57 00:03:05,680 --> 00:03:08,720 Speaker 1: assets are already captured by the Corporations Act. Many crypto 58 00:03:08,800 --> 00:03:13,120 Speaker 1: developers have not attained afsls based on legal advice their 59 00:03:13,160 --> 00:03:15,239 Speaker 1: investment products were not captured by the current law. The 60 00:03:15,240 --> 00:03:18,280 Speaker 1: point of this story plenty going on. The crypto market 61 00:03:18,320 --> 00:03:21,560 Speaker 1: is heading for more regulation. Story number four Melbourne's looking 62 00:03:21,600 --> 00:03:24,560 Speaker 1: at its first one hundred million dollar home sale with 63 00:03:24,720 --> 00:03:28,320 Speaker 1: the grand Turek state of the Meyer family up for sale. 64 00:03:28,800 --> 00:03:32,079 Speaker 1: Cranlana has been owned by the Meyer family, founders of 65 00:03:32,120 --> 00:03:35,440 Speaker 1: the department store chain, since it was purchased by patriarch 66 00:03:35,480 --> 00:03:39,040 Speaker 1: Sydney Meyer and his second wife Merlin in nineteen twenty one. 67 00:03:39,120 --> 00:03:41,840 Speaker 1: The Edwardian mansion is being offered for sale by Meyer 68 00:03:41,960 --> 00:03:45,000 Speaker 1: Family Investments, the private investment company established by Sydney and 69 00:03:45,040 --> 00:03:47,920 Speaker 1: Merlin Meyer. That's according to a story in the Finn Review. 70 00:03:48,000 --> 00:03:51,760 Speaker 1: Currently MFI chair Sydney Meyer definitely not the original. Sydney 71 00:03:52,160 --> 00:03:54,640 Speaker 1: said that after more than one hundred years of family 72 00:03:54,640 --> 00:03:58,720 Speaker 1: ownership and with more than eighty member families fifth generation expanding, 73 00:03:59,080 --> 00:04:01,000 Speaker 1: the time had come to pass the keys of our 74 00:04:01,040 --> 00:04:03,840 Speaker 1: home and its magnificent garden to a new owner and 75 00:04:03,880 --> 00:04:07,480 Speaker 1: custodian and story number five. The US has directly warned 76 00:04:07,520 --> 00:04:10,840 Speaker 1: Israel against a full blown war with Hesbelah, as the 77 00:04:10,920 --> 00:04:14,040 Speaker 1: Lebanese militant group and Israeli forces engaged in some of 78 00:04:14,040 --> 00:04:17,440 Speaker 1: their most fierce exchanges of fire since last year. In 79 00:04:17,520 --> 00:04:21,680 Speaker 1: Salvo's capping a week of spiraling hostilities, Israeli jets mountain 80 00:04:21,760 --> 00:04:24,480 Speaker 1: some of the heaviest bombing raids in southern Lebanon since 81 00:04:24,520 --> 00:04:27,320 Speaker 1: the start of the fighting, while HESBLA fired rockets towards 82 00:04:27,320 --> 00:04:31,120 Speaker 1: the city of Haifa. The escalating attacks have fueled fears 83 00:04:31,160 --> 00:04:34,560 Speaker 1: that the hostilities could tip into a full scale land war. 84 00:04:34,839 --> 00:04:38,880 Speaker 1: John Kirby, the US National Security Council spokesperson, warned Israel 85 00:04:38,960 --> 00:04:41,600 Speaker 1: that there were better ways to ensure Israeli citizens could 86 00:04:41,600 --> 00:04:44,280 Speaker 1: return to evacuated homes in the north than a war, 87 00:04:44,360 --> 00:04:48,000 Speaker 1: than an escalation, than opening up a second front. That's 88 00:04:48,040 --> 00:04:50,440 Speaker 1: all according to the FT. That's it if the Afternoon 89 00:04:50,480 --> 00:04:53,240 Speaker 1: Report for Monday, the twenty third of November twenty twenty four. 90 00:04:53,279 --> 00:04:55,640 Speaker 1: Michael Thompson and I will be back tomorrow morning. It's 91 00:04:55,640 --> 00:04:58,440 Speaker 1: a Tuesday edition of here in Green Business News. I'm chanelma. 92 00:04:58,839 --> 00:04:59,560 Speaker 1: Enjoy your evening.