1 00:00:03,600 --> 00:00:06,480 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,519 --> 00:00:09,360 Speaker 1: for Thursday, the twenty first of August twenty to twenty five. 3 00:00:09,480 --> 00:00:13,039 Speaker 1: I'm Natalie McDonald. Every afternoon, We've got the five stories 4 00:00:13,039 --> 00:00:15,200 Speaker 1: that happen to day that you need to know about. 5 00:00:15,600 --> 00:00:18,480 Speaker 1: Story number one. The smp air SX two hundred hit 6 00:00:18,560 --> 00:00:21,680 Speaker 1: a new record today, pushing through the nine thousand point 7 00:00:21,720 --> 00:00:24,479 Speaker 1: mark for the first time, lifted high by one of 8 00:00:24,480 --> 00:00:27,680 Speaker 1: the busiest days on the corporate calendar this reporting season. 9 00:00:28,120 --> 00:00:30,320 Speaker 1: The Local Boss added one hundred and one points or 10 00:00:30,400 --> 00:00:34,360 Speaker 1: one point one percent to nine thy nineteen. Investors flocked 11 00:00:34,440 --> 00:00:37,480 Speaker 1: to industrials, with gains from Transurban and Brambles up three 12 00:00:37,560 --> 00:00:41,800 Speaker 1: and thirteen percent, respectively. Strength also coming through in the financials, 13 00:00:41,800 --> 00:00:45,360 Speaker 1: with gains across the Big four. Communications services were the 14 00:00:45,400 --> 00:00:48,680 Speaker 1: only sector in the red and James Hardy falling for 15 00:00:48,760 --> 00:00:52,920 Speaker 1: the second consecutive day, down nine point four percent on results. 16 00:00:52,960 --> 00:00:56,000 Speaker 1: Contractor down a EDI rose five point nine percent following 17 00:00:56,000 --> 00:00:59,600 Speaker 1: an eighty two percent profit jump. Super Retail surged twelve 18 00:00:59,640 --> 00:01:02,800 Speaker 1: percent following a beat in expectations, with gains two in 19 00:01:02,880 --> 00:01:06,200 Speaker 1: Biga Cheese. Goodman Group, however, ending the day down one 20 00:01:06,200 --> 00:01:09,680 Speaker 1: point four percent despite a return to profit and IPH 21 00:01:09,760 --> 00:01:13,800 Speaker 1: plunging almost twenty percent after US patent filings took a hit. 22 00:01:14,680 --> 00:01:18,440 Speaker 1: Story number two. The Economic Reform roundtable boiled over this morning, 23 00:01:18,480 --> 00:01:21,720 Speaker 1: with Treasurer Jim Charmers and his opposite number Ted O'Brien 24 00:01:21,800 --> 00:01:26,240 Speaker 1: trading verbal blows overspending and debt. O'Brien accused Labour of 25 00:01:26,319 --> 00:01:30,080 Speaker 1: overspending and locking in long term deficits, claiming the budget 26 00:01:30,120 --> 00:01:32,919 Speaker 1: would be forty eight billion dollars better off and national 27 00:01:32,959 --> 00:01:35,920 Speaker 1: debt one hundred billion dollars lower if the government had 28 00:01:35,959 --> 00:01:40,080 Speaker 1: offset new spending with savings. Nine newspapers report The Treasurer 29 00:01:40,160 --> 00:01:43,760 Speaker 1: rejected the claim, telling O'Brien, every number you just said 30 00:01:43,959 --> 00:01:46,480 Speaker 1: is wrong. It took the intervention of the new South 31 00:01:46,480 --> 00:01:49,560 Speaker 1: Wales Treasurer to get things moving again. It's the sharpest 32 00:01:49,600 --> 00:01:52,200 Speaker 1: exchange of the three day summit, which is just wrapping 33 00:01:52,280 --> 00:01:55,680 Speaker 1: up now. Story number three zero. Investors have delivered a 34 00:01:55,720 --> 00:01:58,440 Speaker 1: sharp rebuke to the board over the CEO's pay packet, 35 00:01:58,760 --> 00:02:01,120 Speaker 1: with nearly half of sharehold or a voting against the 36 00:02:01,160 --> 00:02:05,240 Speaker 1: company's remuneration report. Forty eight point seven percent of votes 37 00:02:05,240 --> 00:02:09,160 Speaker 1: at today's AGM rejected the CEO's fifteen point two million 38 00:02:09,200 --> 00:02:12,680 Speaker 1: at US dollar salary, which is nearly triple last year's target. 39 00:02:13,160 --> 00:02:17,200 Speaker 1: It's more aligned with US Silicon Valley salaries. A fourteen 40 00:02:17,240 --> 00:02:20,200 Speaker 1: point three million US dollar sign on bonus for the 41 00:02:20,240 --> 00:02:25,640 Speaker 1: company's CFO also raised eyebrows. Chairman David Dodi defended the approach, 42 00:02:25,680 --> 00:02:29,040 Speaker 1: saying Zero has to pay at international levels to compete 43 00:02:29,160 --> 00:02:32,720 Speaker 1: for top global talent. Zero is headquartered in New Zealand, 44 00:02:32,720 --> 00:02:35,880 Speaker 1: which means it avoids a formal first strike against the 45 00:02:35,880 --> 00:02:40,440 Speaker 1: remuneration report, but the vote still sends a clear message. 46 00:02:40,600 --> 00:02:43,320 Speaker 1: Story Number four unions are pushing in to lock in 47 00:02:43,400 --> 00:02:46,840 Speaker 1: stronger rights for working from home, wanting the private sector 48 00:02:46,880 --> 00:02:50,200 Speaker 1: to follow the model already agreed by the federal Public Service. 49 00:02:50,600 --> 00:02:53,640 Speaker 1: The Community and Public Sector Union has lodged a test 50 00:02:53,680 --> 00:02:56,800 Speaker 1: case with the Fair Work Commission that would force employers 51 00:02:56,880 --> 00:03:00,000 Speaker 1: under the Clerk's award to apply a bias in five 52 00:03:00,480 --> 00:03:04,280 Speaker 1: of approving remote work requests. That award applies to around 53 00:03:04,320 --> 00:03:08,320 Speaker 1: two million workers. The CPSU says the approach reflects a 54 00:03:08,440 --> 00:03:13,160 Speaker 1: flexible by default mindset, especially important for women, carers and 55 00:03:13,240 --> 00:03:16,800 Speaker 1: workers with disability. If successful, the case could set the 56 00:03:16,840 --> 00:03:20,760 Speaker 1: standard for white collar employees across the economy and story 57 00:03:20,840 --> 00:03:23,920 Speaker 1: number five. Israel has called up tens of thousands of 58 00:03:24,000 --> 00:03:27,600 Speaker 1: reservists as it prepares its operation to take over Gaza City. 59 00:03:28,080 --> 00:03:31,240 Speaker 1: The military says it is already holding the outskirts of 60 00:03:31,320 --> 00:03:35,440 Speaker 1: the city. Between fifty and sixty thousand reservists are expected 61 00:03:35,480 --> 00:03:37,720 Speaker 1: to be called up for the ground offensive, with the 62 00:03:37,800 --> 00:03:42,200 Speaker 1: draft beginning next month. Twenty thousand reservists currently deployed will 63 00:03:42,240 --> 00:03:45,480 Speaker 1: also have their service extended. The move has been met 64 00:03:45,520 --> 00:03:48,800 Speaker 1: by widespread criticism from global leaders and was one of 65 00:03:48,880 --> 00:03:53,600 Speaker 1: the key factors contributing to Australia's decision to recognize Palestinian statehood. 66 00:03:54,080 --> 00:03:57,360 Speaker 1: Human rights groups have warned the humanitarian crisis could worsen 67 00:03:57,480 --> 00:04:02,000 Speaker 1: in Gaza, where most residents have been displaced. That's it 68 00:04:02,040 --> 00:04:04,440 Speaker 1: for the Afternoon Report for Thursday, the twenty first of 69 00:04:04,480 --> 00:04:07,440 Speaker 1: August twenty twenty five. Make sure you hit follow on 70 00:04:07,480 --> 00:04:10,160 Speaker 1: the podcast. We'll be back tomorrow morning with the Friday 71 00:04:10,320 --> 00:04:14,000 Speaker 1: edition of Fear and Greed and Natalie McDonald's Enjoy Your Evening.