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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Monday, the twenty fifth of August twenty twenty five.

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Speaker 2: Are Michael Thompson.

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Speaker 1: Every afternoon, We've got the five stories that happened today

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Speaker 1: that you need to know about. Let's go story number

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Speaker 1: one at the S and p ASX two hundred set

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Speaker 1: yet another intra day high today before it all really

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Speaker 1: fizzled out, closing pretty much flat, just zero point one

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Speaker 1: percent higher at eighty nine hundred and seventy two points.

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Speaker 1: All four of the big banks dropped today. NAB and

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Speaker 1: Westpac were both off one point eight percent. Comwealth Bank

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Speaker 1: was down one and a half percent, A and Z

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Speaker 1: down one point four percent. Instead, investors were flocking to

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Speaker 1: the big miners, Rio, Tinto, BHP, Fords Q, all climbing

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Speaker 1: around two and a half percent off the back of

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Speaker 1: rising iron ore prices. There are some big moves today

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Speaker 1: as more companies reported results. We had Ozzie Broadband a

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Speaker 1: standout of more than twenty percent on a strong outlook.

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Speaker 1: Ansel climbed ten point three percent with margins beating expectations.

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Speaker 1: At the other end, plumbing company Rees dropped more than

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Speaker 1: sixteen percent after a sharp fall in profit in Devor Group,

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Speaker 1: the owner of Dan Murphy's and BWS, also posted a

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Speaker 1: steep decline in full year profit and its share price

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Speaker 1: was down one point four percent for the day. Story

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Speaker 1: number two is about the best performer on the BOSS today.

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Speaker 1: Southern Cross Media, the company which owned radio assets including

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Speaker 1: the Hit and Triple Am networks, sawed twenty six point

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Speaker 1: five percent today after reporting a strong full year turnaround.

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Speaker 1: The last year has seen Sea sell off its TV

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Speaker 1: assets to focus on audio, including the digital platform Listener,

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Speaker 1: which saw strong digital revenue growth. It follows a report

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Speaker 1: in the Australian newspaper Today that suggested Nine Entertainment is

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Speaker 1: considering a surprise play for the radio company as it

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Speaker 1: hunts for acquisitions after the sale of real estate platform Domain.

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Speaker 1: Of course, nine already owns talk stations talk radio stations

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Speaker 1: including two GB in Sydney and three AW in Melbourne,

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Speaker 1: which it would need to sell in order to buy

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Speaker 1: Southern Cross. It is always fascinating the speculation within the

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Speaker 1: media industry. Under story number three, Now in Australia has

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Speaker 1: cut its greenhouse emissions by one point four percent in

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Speaker 1: the year to March, putting the country on track to

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Speaker 1: meet its twenty thirty Paris Agreement target. The government's quarterly

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Speaker 1: update shows national emissions are now twenty eight percent below

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Speaker 1: two thousand and five levels, edging closer to the forty

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Speaker 1: three percent cut pledged by the end of the decade.

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Speaker 1: Total emissions fell to four hundred and forty zero point

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Speaker 1: two million tons, thanks largely to more renewable power, industrial

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Speaker 1: decarbonization under the Safeguard mechanism and less household gas use.

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Speaker 1: It does come, however, as the Federal coalition is split

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Speaker 1: over the twenty to fifty net zero target, but National's

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Speaker 1: MP Barnaby Joy is saying it will lead to the

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Speaker 1: demolition of Australia's industrial base and drive up costs for business.

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Speaker 2: Story number four. Quantus is facing fresh pressure from some

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Speaker 2: of its biggest investors as the board prepares to decide

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Speaker 2: on executive bonuses this week. Super funds are urging the

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Speaker 2: airline to factor in the federal courts damning ninety million

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Speaker 2: dollar penalty for illegally sacking eighteen hundred workers during the pandemic.

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Speaker 2: Just as Michael Lee slammed Quantus for quote performative remorse

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Speaker 2: and aggressive litigation against former staff using the terrific line

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Speaker 2: Quantus was the wrong kind of sorry. The Australian Council

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Speaker 2: of Superannuation Investors says shareholders want to see if the

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Speaker 2: board holds management accountable. Big superfund Tester and Aware say

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Speaker 2: brand trust still fragile, and how bonuses are handled will

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Speaker 2: be a key test. And finally, story number five, SpaceX

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Speaker 2: has delayed the latest test flight of its giant Starship rocket,

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Speaker 2: canceling the launch just half an hour before liftoff from

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Speaker 2: its base in South Texas. The tenth major mission for

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Speaker 2: Starship was due to fly Sunday evening local time, so

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Speaker 2: earlier today, but SpaceX said that needed to troubleshoot a

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Speaker 2: problem with its ground systems. There's no word yet on

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Speaker 2: when a new attempt is going to be made. Earlier

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Speaker 2: Starship flights this year have ended in explosions or malfunctions.

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Speaker 2: There's been rockets blowing up mid air right through to

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Speaker 2: a failed satellite deployment. There's even an explosion on a

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Speaker 2: test stand. SpaceX has reassigned about twenty percent of its

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Speaker 2: Falcon rocket engineers to the Starship program in order to

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Speaker 2: try and get this thing back on track. That's it

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Speaker 2: for the afternoon Report for Monday, the twenty fifth of

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Speaker 2: August twenty twenty five. Make sure you hit follow on

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Speaker 2: the podcast and we'll be back tomorrow morning with the

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Speaker 2: Tuesday edition of the Fast five Business News by Fear

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Speaker 2: and Greed. I'm Michael Thompson. Enjoy your evening.