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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 S and PA Sex two

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Speaker 1: hundred rebounded today, climbing zero point three percent to eighty

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Speaker 1: nine hundred and eighteen points. Seven of the eleven sectors

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Speaker 1: closed higher, led by the banks. All of the big

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Speaker 1: four were up, with NAB closing three point seven percent higher,

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

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Speaker 1: The biggest bank of them all had the smallest rise

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Speaker 1: Comonwealth Bank, up just zero point eight percent. That's the

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Speaker 1: good news. Now on to the bad. Materials company James

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Speaker 1: Hardy tumbled almost twenty eight percent today after its earnings

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Speaker 1: guidance came in well below expectations. Its net income was

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Speaker 1: down sixty percent in the three years to June. And

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Speaker 1: more bad news for CSL after its investor sherlacking yesterday

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Speaker 1: saw it dropped seventeen percent. It fell another two point

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

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Speaker 1: were down Today. Story number two. The NDIS is not

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Speaker 1: the right fit for thousands of children with autism or

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

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Speaker 1: twenty twenty seven they'll be directed to a new program

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Speaker 1: called Thriving Kids. Speaking at the National Press Club, Butler

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Speaker 1: said the NDIS was built for permanent disability, but has

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Speaker 1: blown out to nearly seven hundred and forty thousand participants,

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Speaker 1: with one in six six year old boys now on

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Speaker 1: the forty six billion dollar scheme. He says families need

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Speaker 1: coordinated support in schools, childcare and community centers, not individualized

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Speaker 1: budgets of twenty thousand dollars or more. The government wants

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Speaker 1: to cap NDIS growth at five to six percent a year,

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Speaker 1: down from more than ten percent, in order to keep

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Speaker 1: it sustainable. Story number three. Employers paid almost one hundred

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Speaker 1: and four billion dollars in wages and salaries in June,

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Speaker 1: up almost six percent from the same month last year.

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Speaker 1: The ABS reports total wages and salaries paid by employers

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Speaker 1: came in at one two hundred and nineteen billion dollars

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Speaker 1: in the twenty twenty four to twenty five financial year,

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Speaker 1: growing six percent from the previous financial year, which was

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Speaker 1: actually lower than the seven percent between the two prior years.

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Speaker 1: The healthcare and social assistance services industry held the larger

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

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Speaker 1: percent of the total. Story number four. If Sydney's Surrey

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Speaker 1: Hills seems a little bit ritzy next time you happen

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

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Speaker 1: an influx of overnight millionaires. Canvas, which is based in

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Speaker 1: Surrey Hills, has launched an employee stock sale, good timing

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Speaker 1: with its new sixty five billion dollar valuation. The company

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Speaker 1: says the sale is already oversubscribed. Equity has long been

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

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Speaker 1: to the US triggered unexpected Australian tax bills. The secondary

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Speaker 1: share sale aims to help affected staff cash out. Eligible

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Speaker 1: current and former staff will be able to sell up

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

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

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

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

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

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Speaker 1: the US. Walmart has recalled frozen raw shrimp sold in

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Speaker 1: thirteen states after US health officials found traces of radioactive contamination.

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Speaker 1: Bloomberg reports. The Food and Drug Administration the FDA says

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Speaker 1: three lots of frozen shrimp imported from Indonesia could contain

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Speaker 1: caesium one three seven, which is a radioactive byproduct of

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Speaker 1: nuclear reactions. While the levels detected were well below official

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Speaker 1: intervention thresholds, the agency says avoiding the product does reduce

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Speaker 1: the risk of long term exposure makes sense. The shrimp

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Speaker 1: was sold in states including Florida, Texas, Pennsylvania, and Ohio.

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Speaker 1: If we do have any Walmart shrimp customers listening, you

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Speaker 1: are urged to throw the shrimp away or return it

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Speaker 1: to Walmart for a refund. The FDA does say that

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Speaker 1: the risk is quite low, but it is investigating the

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Speaker 1: Indonesian supplier after contaminated shipping containers were intercepted at US ports.

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Speaker 1: That's it for the afternoon report for Wednesday, the twentieth

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

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

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Speaker 1: the Thursday edition of Fear and greed. I'm Michael Thompson.

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Speaker 1: Enjoy your evening,