1 00:00:03,600 --> 00:00:06,360 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,440 --> 00:00:09,120 Speaker 1: for Tuesday, the eighth of July twenty twenty five. I'm 3 00:00:09,160 --> 00:00:11,920 Speaker 1: Sean Aelma. Every afternoon, we've got the five stories that 4 00:00:12,080 --> 00:00:14,400 Speaker 1: happened today that you need to know about. Storingam one, 5 00:00:14,440 --> 00:00:17,239 Speaker 1: The Reserve Bank today kept the official interest rate on 6 00:00:17,360 --> 00:00:22,040 Speaker 1: hold at three point eighty five percent, which in economic 7 00:00:22,120 --> 00:00:25,239 Speaker 1: terms is a bit of a bombshell. Triggered a jump 8 00:00:25,280 --> 00:00:27,360 Speaker 1: in the Aussie dollar and a drop in the share market. 9 00:00:27,640 --> 00:00:30,640 Speaker 1: By the closed the SMPASX two hundred was flat at 10 00:00:30,680 --> 00:00:34,720 Speaker 1: eight thousand, five hundred and ninety one points. Goldstocks did 11 00:00:35,040 --> 00:00:37,519 Speaker 1: best today on the back of rising price for the 12 00:00:37,520 --> 00:00:42,280 Speaker 1: precious metal after the Trump Trade letters overnight, where Donald 13 00:00:42,320 --> 00:00:47,760 Speaker 1: Trump started imposing tariffs on other economies. The consumer staples, utilities, 14 00:00:47,760 --> 00:00:51,440 Speaker 1: improper property industries did worst, reflecting in part the interest 15 00:00:51,520 --> 00:00:56,800 Speaker 1: rate decision. Today, the telco's financials and consumer discretionary induices 16 00:00:56,880 --> 00:00:59,200 Speaker 1: did best. Among the large caps, The big miners and 17 00:00:59,240 --> 00:01:01,320 Speaker 1: retailers were love oh, while the big banks were mixed. 18 00:01:01,600 --> 00:01:04,679 Speaker 1: Story number two. The Productivity Commission in Australia has warned 19 00:01:04,720 --> 00:01:08,399 Speaker 1: that billions of dollars in taxpayer subsidies for manufacturing and 20 00:01:08,440 --> 00:01:13,080 Speaker 1: green energy could be deemed trade protectionism. The Productivity Commission, 21 00:01:13,120 --> 00:01:15,960 Speaker 1: in fairly frank advice said subsidies under the Future Made 22 00:01:16,000 --> 00:01:19,840 Speaker 1: in Australia Banner and the National Reconstruction Fund could be 23 00:01:20,000 --> 00:01:22,600 Speaker 1: considered in that way. According to the Finn Review. The 24 00:01:22,640 --> 00:01:26,280 Speaker 1: Commission also advised the government to lower prices for consumers 25 00:01:26,280 --> 00:01:29,240 Speaker 1: and compliance costs for business by extending cuts to so 26 00:01:29,319 --> 00:01:32,120 Speaker 1: called newstance tariffs on more than three hundred imported goods, 27 00:01:32,120 --> 00:01:36,280 Speaker 1: including steel, appliances and plastics. Story number three to two 28 00:01:36,640 --> 00:01:40,440 Speaker 1: major fund managers, Platinum Asset Management and l One Capital 29 00:01:40,760 --> 00:01:43,240 Speaker 1: are set to merge, creating an investment group with about 30 00:01:43,280 --> 00:01:46,240 Speaker 1: sixteen and a half billion dollars in funds under management. 31 00:01:46,520 --> 00:01:48,800 Speaker 1: Under the deal, Platinum will acquire one hundred percent of 32 00:01:48,840 --> 00:01:52,680 Speaker 1: the issued share capital in l one Capital and L 33 00:01:52,680 --> 00:01:56,280 Speaker 1: one shareholders get Platinum stock. L One Capital shareholders will 34 00:01:56,280 --> 00:02:00,640 Speaker 1: hold seventy four percent of the merged group. Platinum shareholders 35 00:02:00,680 --> 00:02:03,760 Speaker 1: will hold about twenty six percent. Story number four Aldi 36 00:02:03,840 --> 00:02:06,520 Speaker 1: has done a deal with door Dash, launching home delivery 37 00:02:06,560 --> 00:02:09,639 Speaker 1: for the first time in Australia, escalating its fight against 38 00:02:09,680 --> 00:02:13,680 Speaker 1: woolies and coals. The service commenced in Canberra today. It 39 00:02:13,760 --> 00:02:16,360 Speaker 1: will be rolled out nationally in coming months. More than 40 00:02:16,400 --> 00:02:20,519 Speaker 1: eighteen one hundred products, including fresh produce, meat, seafood, dairy, bread, 41 00:02:20,760 --> 00:02:25,120 Speaker 1: and household staples, will be available for delivery via the platform. 42 00:02:25,200 --> 00:02:29,160 Speaker 1: The online grocery segment now commands eleven percent of the 43 00:02:29,160 --> 00:02:33,480 Speaker 1: overall market in Australia and story number five. President Donald 44 00:02:33,480 --> 00:02:37,240 Speaker 1: Trump hosted Israeli Prime Minister Benjamin netanya Who at the 45 00:02:37,280 --> 00:02:40,839 Speaker 1: White House this morning Australian Time, saying the US had 46 00:02:40,919 --> 00:02:44,720 Speaker 1: scheduled talks with Iran and indicated progress on efforts to 47 00:02:44,800 --> 00:02:48,640 Speaker 1: relocate Palestinians out of Gaza. Trump said the US and 48 00:02:48,680 --> 00:02:51,320 Speaker 1: Israel were working with other countries to give Palestinians a 49 00:02:51,320 --> 00:02:54,520 Speaker 1: better future, suggesting that the residents of Gaza could move 50 00:02:54,560 --> 00:02:57,639 Speaker 1: to neighbouring nations. Trump and Nettnya, who met for several 51 00:02:57,639 --> 00:03:01,680 Speaker 1: hours in Washington, while Israeli officials continued in direct negotiations 52 00:03:01,680 --> 00:03:04,320 Speaker 1: with Hamas aimed at securing the US broken guards the 53 00:03:04,400 --> 00:03:09,040 Speaker 1: ceasefire and hostage release deal. The president also announced the 54 00:03:09,120 --> 00:03:11,600 Speaker 1: US would send more weapons to the Ukraine to help 55 00:03:11,639 --> 00:03:15,560 Speaker 1: that country defend itself against Russia. Meanwhile, Naho told Trump 56 00:03:15,880 --> 00:03:18,919 Speaker 1: that he had nominated the US president for the Nobel 57 00:03:19,080 --> 00:03:22,120 Speaker 1: Peace Prize. That's it for afternoon report for Tuesday, the 58 00:03:22,120 --> 00:03:24,240 Speaker 1: eighth of July twenty twenty five. Make sure you hit 59 00:03:24,280 --> 00:03:26,680 Speaker 1: follow on the podcast. We'll be back tomorrow morning with 60 00:03:26,720 --> 00:03:29,000 Speaker 1: a Wednesday edition of Fear and Greed Business News. I'm 61 00:03:29,040 --> 00:03:30,760 Speaker 1: Sean Elmer. Enjoy your evening.