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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 twentieth of August twenty twenty five. Are

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Speaker 1: Michael Thompson. Every afternoon, We've got the five stories that

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

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Speaker 1: with story number one. The SMPA SEX two hundred rebounded today,

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Speaker 1: climbing zero point three percent to eighty nine hundred and

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Speaker 1: eighteen points. Seven of the eleven sectors closed higher, led

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Speaker 1: by the banks. All of the big four were up,

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Speaker 1: with NAB closing three point seven percent higher, Westpac two

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Speaker 1: and a half percent, A and Z two percent. The

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Speaker 1: biggest bank of them all had the smallest rise, Cominwealth Bank,

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Speaker 1: up just zero point eight percent. That's the good news.

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Speaker 1: Now on to the bad. Materials company James Hardy tumbled

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Speaker 1: almost twenty eight percent today after its earnings guidance came

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Speaker 1: in well below expectations. Its net income was down sixty

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Speaker 1: percent in the three years to June. And more bad

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Speaker 1: news for CSL after its investor she lacking yesterday saw

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Speaker 1: it drop seventeen percent, it fell another two point one

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Speaker 1: percent today. Unsurprisingly, both the healthcare and material sectors were

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Speaker 1: down today. Story number two. The NDIS is not the

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Speaker 1: right fit for thousands of children with autism or developmental delay,

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Speaker 1: according to Disability Minister Mark Butler, and from twenty twenty

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Speaker 1: seven they'll be directed to a new program called Thriving Kids.

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Speaker 1: Speaking at the National Press Club, Butler said the NDIS

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Speaker 1: was built for permanent disability but has blown out to

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Speaker 1: nearly seven hundred and forty thousand participants, with one in

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Speaker 1: six six year old boys now on the forty six

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Speaker 1: billion dollar scheme. He says families need coordinated support in schools,

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Speaker 1: childcare and community centers, not individualized budgets of twenty thousand

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Speaker 1: dollars or more. The government wants to cap NDIS growth

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Speaker 1: at five to six percent a year, down from more

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Speaker 1: than ten percent, in order to keep it sustainable. Story

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Speaker 1: number three. Employers paid almost one hundred and four billion

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Speaker 1: dollars in wages and salaries in June, up almost six

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Speaker 1: percent from the same month last year. The ABS reports

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Speaker 1: total wages and salaries paid by employers came in at

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Speaker 1: one two hundred and nineteen billion dollars in the twenty

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Speaker 1: twenty four to twenty five financial year, growing six percent

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Speaker 1: from the previous financial year, which was actually lower than

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Speaker 1: the seven percent between the two prior years. The healthcare

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Speaker 1: and social assistance services industry held the largest share of

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Speaker 1: total wages and salaries, making up almost fifteen percent of

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Speaker 1: the total. Story Number four. If Sydney's Surrey Hills seems

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Speaker 1: a little bit ritzy next time you happen to be

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Speaker 1: in the area, it may be due to an influx

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Speaker 1: of overnight millionaires. Canvas, which is based in Surrey Hills,

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Speaker 1: has launched an employee stock sale good timing with its

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Speaker 1: new sixty five billion dollar valuation. The company says this

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Speaker 1: sale is already oversubscribed. Equity has long been part of

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Speaker 1: Canvas's pitch to employees, but a recent move to the

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Speaker 1: US triggered unexpected Australian tax bills. The secondary share sale

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Speaker 1: aims to help affected staff cash out. Eligible current and

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Speaker 1: former staff will be able to sell up to four

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Speaker 1: point six million dollars worth of their vested equity. The

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Speaker 1: secondary sale, led by Fidelity and backed by new investor

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Speaker 1: JP Morgan, comes as two early backers, Blackbird and square

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Speaker 1: Peg upgraded valuations following rival Figma's blockbuster NASDAC debut. Story

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Speaker 1: Number five. Last one, how about this out of the US.

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Speaker 1: Walmart has recalled frozen raw shrimp sold in thirteen states

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Speaker 1: after US health officials found traces of radioactive contamination. Bloomberg reports.

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Speaker 1: The Food and Drug Administration the FDA says three lots

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Speaker 1: of frozen shrimp imported from Indonesia could contain caesium one

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Speaker 1: three seven, which is a radioactive byproduct of nuclear reactions.

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Speaker 1: While the levels detected were well below official intervention thresholds,

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Speaker 1: the agency says avoiding the product does reduce the risk

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Speaker 1: of long term exposure makes sense. The shrimp was sold

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Speaker 1: in states including Florida, Texas, Pennsylvania, and Ohio. If we

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Speaker 1: do have any Walmart shrimp customers listening, you are urged

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Speaker 1: to throw the shrimp away or return it to Walmart

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Speaker 1: for a refund. The FDA does say that the risk

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Speaker 1: is quite low, but it is investigating the Indonesian supplier

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Speaker 1: after contaminated shipping containers were intercepted at US ports. That's

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Speaker 1: it for the afternoon report for Wednesday, the twentieth of

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Speaker 1: August twenty twenty five. Make sure you hit follow on

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Speaker 1: the podcast and we'll be back tomorrow morning with the

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Speaker 1: Thursday edition of the Fast five Business News by fear

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Speaker 1: and greed. Are Michael Thompson enjoy your Ethek