1 00:00:04,120 --> 00:00:07,280 Speaker 1: Welcome to the Beeering Greed Business News Afternoon Report for Friday, 2 00:00:07,400 --> 00:00:10,320 Speaker 1: the twoth of December twenty twenty five. I'm sure, alma. 3 00:00:10,400 --> 00:00:12,799 Speaker 1: Every afternoon we bring you the five big stories that 4 00:00:12,920 --> 00:00:14,960 Speaker 1: happened today that you need to know about. Storing Number one, 5 00:00:15,000 --> 00:00:18,120 Speaker 1: the SMPAX two hundred closed up one point two percent 6 00:00:18,160 --> 00:00:21,280 Speaker 1: today to eighty six hundred and ninety seven points, taking 7 00:00:21,360 --> 00:00:24,120 Speaker 1: the total gain for the week to zero point seven percent. 8 00:00:24,200 --> 00:00:27,480 Speaker 1: The prospect of further rate cuts buoyed Wall Street. More 9 00:00:27,520 --> 00:00:30,319 Speaker 1: on that shortly, and the miners did best today. On 10 00:00:30,360 --> 00:00:33,440 Speaker 1: the local market, gold stocks did well. The major banks 11 00:00:33,479 --> 00:00:36,800 Speaker 1: all rose between one and two percent. CSL and Macquoi Group, 12 00:00:36,960 --> 00:00:40,520 Speaker 1: two of the worst performing large caps over twenty twenty five, 13 00:00:40,880 --> 00:00:43,280 Speaker 1: we're among the best today. The lag ards today included 14 00:00:43,320 --> 00:00:46,720 Speaker 1: West Farmers, Telstra, and Woodside Story number two. Wall Street 15 00:00:47,040 --> 00:00:49,560 Speaker 1: set a bunch of records overnight, with the broad based 16 00:00:49,680 --> 00:00:53,080 Speaker 1: SMP five hundred, the Dow Jones Industrial Average, which measures 17 00:00:53,120 --> 00:00:55,560 Speaker 1: the top thirty stocks, and the small cap index the 18 00:00:55,640 --> 00:01:00,600 Speaker 1: Russell two thousand, all logging record highs Commodities are also performing, 19 00:01:00,840 --> 00:01:03,800 Speaker 1: with gold hire once again, while both copper and silver 20 00:01:04,240 --> 00:01:06,640 Speaker 1: hit records over the past twenty four hours in the 21 00:01:06,640 --> 00:01:10,560 Speaker 1: tech space, open Ai unveiled chat GPT five point two, 22 00:01:10,880 --> 00:01:13,840 Speaker 1: putting pressure on Alphabet's Gemini product. Cisco's share price hit 23 00:01:13,880 --> 00:01:17,319 Speaker 1: a twenty five year record as AI spending fuels renewed 24 00:01:17,360 --> 00:01:21,120 Speaker 1: optimism in legacy tech, and Disney announced a multi billion 25 00:01:21,160 --> 00:01:25,000 Speaker 1: dollar investment in open Ai plenty going on. Story number three, 26 00:01:25,040 --> 00:01:28,000 Speaker 1: Prime Minister Anthony Albernezi says one thousand jobs have been 27 00:01:28,040 --> 00:01:32,479 Speaker 1: saved at Australia's biggest aluminium smelter after announcing a deal 28 00:01:32,560 --> 00:01:35,720 Speaker 1: to keep the plant operating beyond twenty twenty eight. Rio Tinto, 29 00:01:35,800 --> 00:01:39,280 Speaker 1: the owner of the Tomago smelter, had warned of imminent 30 00:01:39,319 --> 00:01:41,679 Speaker 1: closure due to a doubling of energy costs when the 31 00:01:41,680 --> 00:01:44,959 Speaker 1: current electricity contract expires in a couple of years, but 32 00:01:45,000 --> 00:01:47,319 Speaker 1: the Commonwealth Government has led a deal which will provide 33 00:01:47,319 --> 00:01:51,160 Speaker 1: the smelter with billions of dollars in subsidized power from 34 00:01:51,160 --> 00:01:55,200 Speaker 1: the Snowy Hydro project and other renewable sources or firmed 35 00:01:55,240 --> 00:01:58,440 Speaker 1: by gas. Tomago produces more than one third of Australia's 36 00:01:58,480 --> 00:02:01,720 Speaker 1: aluminium and accounts from our twelve percent of New South 37 00:02:01,720 --> 00:02:05,360 Speaker 1: Wales's energy consumption. Story number four Reddit has filed a 38 00:02:05,440 --> 00:02:08,200 Speaker 1: High Court challenge to Australia's world first laws lifting the 39 00:02:08,240 --> 00:02:11,760 Speaker 1: minimum age to use social media to sixteen years. Reddit 40 00:02:11,880 --> 00:02:16,320 Speaker 1: argues that the ban infringes the Australian constitutions implied right 41 00:02:16,720 --> 00:02:20,880 Speaker 1: to freedom of political communication. In court filings, Reddit argued 42 00:02:21,040 --> 00:02:24,040 Speaker 1: that choices made by citizens will be informed by political 43 00:02:24,040 --> 00:02:28,480 Speaker 1: communication in which they engage prior to the age of eighteen. Now, 44 00:02:28,560 --> 00:02:31,640 Speaker 1: the band took effect on Wednesday, and rather than celebrating 45 00:02:31,639 --> 00:02:34,440 Speaker 1: the social reform, the government's been mired in the political 46 00:02:34,480 --> 00:02:37,880 Speaker 1: expenses scandal on that issue. The Prime Minister today said 47 00:02:37,919 --> 00:02:40,680 Speaker 1: that he had asked the Independent watchdog for advice on 48 00:02:40,720 --> 00:02:43,480 Speaker 1: the issue. Also today, the state and territory health ministers 49 00:02:43,520 --> 00:02:46,919 Speaker 1: rejected the federal government's offer of twenty three billion dollars 50 00:02:46,919 --> 00:02:50,840 Speaker 1: in extra hospital funding. Story number five. Australia will allow 51 00:02:50,919 --> 00:02:55,840 Speaker 1: South Korea's top defense company, Henoi Eraospace, to increase its 52 00:02:55,840 --> 00:02:58,600 Speaker 1: stake in shipbuilder Hostile Limited to nine ze point nine 53 00:02:58,680 --> 00:03:01,959 Speaker 1: percent after Treasury Gim Chalmers signed off on a recommendation 54 00:03:02,000 --> 00:03:05,120 Speaker 1: from the Foreign Investment Review Board. The decision ensures that 55 00:03:05,160 --> 00:03:09,240 Speaker 1: there are protections for Australia's strategic shipbuilder and the government's 56 00:03:09,240 --> 00:03:13,480 Speaker 1: sovereign interest in Ostel. Chalmers said if the proposal goes ahead, 57 00:03:13,480 --> 00:03:15,440 Speaker 1: it would be subject to a number of strict conditions 58 00:03:15,440 --> 00:03:19,120 Speaker 1: relating to governance, including limits on Hanwa's access to and 59 00:03:19,160 --> 00:03:23,239 Speaker 1: the storage of sensitive information. Ostill earns about eighty percent 60 00:03:23,280 --> 00:03:25,840 Speaker 1: of its revenue from the US. According to Bloomberg, those 61 00:03:25,880 --> 00:03:29,320 Speaker 1: operations could prove advantageous for Hanwha, which is keen to 62 00:03:29,360 --> 00:03:32,520 Speaker 1: strength and strategic partnerships in the US and elsewhere amid 63 00:03:32,600 --> 00:03:35,960 Speaker 1: a boom in the global defense and shipbuilding industries. That's 64 00:03:36,000 --> 00:03:38,640 Speaker 1: its the afternoon report for Friday, eighty twelfth of December 65 00:03:38,680 --> 00:03:40,800 Speaker 1: twenty twenty five. I hope you all have a great weekend. 66 00:03:40,840 --> 00:03:43,480 Speaker 1: Make sure you follow on the podcast and head along 67 00:03:43,520 --> 00:03:45,480 Speaker 1: to Fearangreed dot com Today you to sign up for 68 00:03:45,480 --> 00:03:48,680 Speaker 1: our free daily newsletter. I'm Suan Aelma. Enjoy your evening.