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

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Speaker 1: for Wednesday, the first of October twenty twenty five. Are

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Speaker 1: Michael Thompson and every afternoon we've got the five stories

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Speaker 1: that happen today that you need to know about. Let's

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Speaker 1: go with story number one. The S and p ASX

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Speaker 1: two hundred closed flat today, just three points lower, or

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Speaker 1: zero point zero four percent to eight hundred and forty

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Speaker 1: six points. But that relatively benign result doesn't tell the

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Speaker 1: full story because behind the scenes there's been plenty happening.

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Speaker 1: Australia's second largest company, BHP, fell two point five percent

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Speaker 1: today over reports China has banned purchases of the miners

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Speaker 1: Iron all are out of the pilbro as part of

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Speaker 1: a price negotiation tactic. The other big miners, fortes Q

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Speaker 1: and Rio Tinto both actually climbed today. Gold set yet

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Speaker 1: another record uncertainty over a US government shutdown, sending investors

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Speaker 1: looking for safe haven assets once again. I have more

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Speaker 1: on the shutdown in a minute, but the local gold

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Speaker 1: miners rose as a result. Lithium companies had a pretty

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Speaker 1: ordinary day after reports to major mind in China could

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Speaker 1: be getting closer to restarting. Liontown Resources lost ten point

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Speaker 1: seven percent. PLS formerly Pilbrim Minerals it was down six

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Speaker 1: point four percent. Mineral Resources and Igo both closed about

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Speaker 1: four percent lower for the day. A few other things

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Speaker 1: worth mentioning A big deal announced with Eagers Automotive buying

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Speaker 1: a majority stake in a Canadian dealership business. We'll have

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Speaker 1: more on that one tomorrow morning. And Drone Shield, the

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Speaker 1: drone defense tech company that's really having a moment right now,

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Speaker 1: had yet another Moment's another great day, up another twenty

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Speaker 1: three percent today. It's now up fifty percent for the week,

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Speaker 1: and it's only Wednesday. Under story number two now and

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Speaker 1: mining giant Rio Tinto says Queensland's largest coal fired power

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Speaker 1: station could shut six years ahead of schedule, with the

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Speaker 1: Gladston Power Station potentially closing by March twenty twenty nine.

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Speaker 1: The company has formally notified the market operator that the

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Speaker 1: plant may retire as existing supply arrangements expire, including its

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Speaker 1: deal with the Boyn Aluminium Smelter, which is the station's

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Speaker 1: biggest customer. The thing is that the smelter has already

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Speaker 1: secured renewable energy and large scale battery storage to power

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Speaker 1: the smelter beyond twenty twenty nine, which will mean essentially

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Speaker 1: that the coal fired power station just would not be

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Speaker 1: needed to the same extent. No final decision on this

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Speaker 1: has been made, but the move has already been welcomed

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Speaker 1: by energy analysts and by climate groups. Story number three.

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Speaker 1: The Media watchdog has warned it may take enforcement action

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Speaker 1: against the radio network behind the Kyle and Jackie o

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Speaker 1: Show after repeated breaches of decency standards. The Australian Communications

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Speaker 1: Media Authority has found seven new breaches, including segments with

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Speaker 1: vulgar and sexually explicit content, plus failures to handle audience

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Speaker 1: complaints within the required time. This is the twelfth breach

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Speaker 1: finding against the program, whose hosts signed a ten year

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Speaker 1: deal reply worth two hundred million dollars last year. The

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Speaker 1: show is consistently at or near the top of the

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Speaker 1: ratings in Sydney, but has really failed to build an

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Speaker 1: audience in Melbourne since it started networking to the city

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Speaker 1: last year. This latest finding by AKMA may not help

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Speaker 1: that battle onto Story number four. Now and a McDonald's

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Speaker 1: outlet in Melbourne Southeast has sold for four point seven

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Speaker 1: million dollars, with investors accepting a record low yield of

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Speaker 1: just two point seven eight percent. This is a really

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Speaker 1: interesting story because the Hampton Park store drew thirty three

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Speaker 1: registered bidders nearly eight hundred inquiries before being sold under

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Speaker 1: the hammer to an offshore buyer. There's a twenty year

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Speaker 1: lease to McDonald's in place that'll take it through until

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Speaker 1: twenty forty three. The assets expected to generate about one

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Speaker 1: hundred and thirty one thousand dollars in annual rental income

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Speaker 1: with fixed yearly increases, and property analysts say the result

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Speaker 1: reflects the intense demand for set and forget investments backed

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Speaker 1: by global brands, with the Financial Review reporting that the

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Speaker 1: McDonald's freehold sites are among the most tightly held in

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Speaker 1: the market. Finally, story number five I mentioned this earlier.

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Speaker 1: The US government has shut down after Congress failed to

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Speaker 1: agree on funding before the deadline. About seven hundred and

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Speaker 1: fifty thousand federal workers are expected to be furloughed, while

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Speaker 1: government services ranging from air travel safety checks through to

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Speaker 1: unemployment data releases that will all be disrupted. President Donald

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Speaker 1: Trump threatened mass firings of Democrats in the federal workforce

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Speaker 1: and blamed the deadlock on healthcare subsidies demanded by Democrats.

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Speaker 1: It is the third shutdown under his presidency, though the

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Speaker 1: first since his return to office this year. The last

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Speaker 1: shutdown that he had in twenty nineteen lasted thirty five

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Speaker 1: days and cost the economy three billion US dollars. This time, though,

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Speaker 1: the president has threatened retribution, saying he'll do and I quote,

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Speaker 1: things that are irreversible, things that are bad. The Afternoon

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Speaker 1: Report for Wednesday, the first of October twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast and we'll

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Speaker 1: be back tomorrow morning with the Thursday edition of the

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Speaker 1: Fast five Business News by Fear and Greed. I'm Michael Thompson.

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Speaker 1: Enjoy your evening