1 00:00:03,120 --> 00:00:05,760 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:05,800 --> 00:00:08,240 Speaker 1: for Monday, the tenth of March twenty twenty five. I'm 3 00:00:08,280 --> 00:00:11,400 Speaker 1: Sean Alma. Every afternoon, we've got the five stories that 4 00:00:11,480 --> 00:00:14,000 Speaker 1: happen today that you need to know about. Story number one. 5 00:00:14,480 --> 00:00:17,960 Speaker 1: Fighting continues in southern Queensland and northern New South Wales 6 00:00:17,960 --> 00:00:20,360 Speaker 1: and more than two hundred thousand homes in the region 7 00:00:20,760 --> 00:00:23,920 Speaker 1: remain without power. There are a number of major flood 8 00:00:24,000 --> 00:00:28,240 Speaker 1: warnings still in place and schools were closed today. The 9 00:00:28,360 --> 00:00:32,080 Speaker 1: federal and Queensland governments announced a personal hardship scheme to 10 00:00:32,080 --> 00:00:36,120 Speaker 1: help residents affected by ex tropical cyclone Alfred. The hardship 11 00:00:36,159 --> 00:00:39,440 Speaker 1: assistance is on top of the disaster Recovery allowance that 12 00:00:39,520 --> 00:00:42,720 Speaker 1: allows those who have lost work to access payments which 13 00:00:42,720 --> 00:00:45,159 Speaker 1: are about the same amount as job seeker for up 14 00:00:45,159 --> 00:00:48,560 Speaker 1: to thirteen weeks. Prime Minister Anthony Albernizi this morning said 15 00:00:48,600 --> 00:00:53,239 Speaker 1: the government will hold insurance companies to account. Story number two. 16 00:00:53,400 --> 00:00:56,520 Speaker 1: US President Donald Trump has had a crack at former 17 00:00:56,560 --> 00:01:00,000 Speaker 1: Prime Minister Malcolm Turnbull, saying he led Australia from behind 18 00:01:00,000 --> 00:01:03,840 Speaker 1: mind never understood what was going on in China, nor 19 00:01:03,960 --> 00:01:07,080 Speaker 1: did he have the capacity to do so. Writing on 20 00:01:07,120 --> 00:01:09,840 Speaker 1: Truth Social he said mister Turnbull was a weak and 21 00:01:10,000 --> 00:01:13,400 Speaker 1: ineffective leader. Why did he say this, Well, mister Turnbull 22 00:01:13,440 --> 00:01:17,080 Speaker 1: had just appeared on Bloomberg Television in the US speaking 23 00:01:17,120 --> 00:01:20,200 Speaker 1: about tariffs. He said Trump's on again, off again tariff 24 00:01:20,280 --> 00:01:23,480 Speaker 1: threats were bad for business and could drive the US 25 00:01:23,480 --> 00:01:26,760 Speaker 1: into recession. Mister Turnbull added that mister Trump is playing 26 00:01:26,840 --> 00:01:30,040 Speaker 1: into China's hands. Story Number three. The local shere market 27 00:01:30,040 --> 00:01:33,320 Speaker 1: finished up zero point two percent today to nine hundred 28 00:01:33,360 --> 00:01:36,200 Speaker 1: and sixty two points. Best of the large caps were 29 00:01:36,200 --> 00:01:39,560 Speaker 1: the resources companies Rio Tinto and Woodside, for example. They 30 00:01:39,600 --> 00:01:43,240 Speaker 1: were standouts. Goodman Group was another well performed stock today. 31 00:01:43,520 --> 00:01:47,160 Speaker 1: Worst of the large caps CSL, which went extived end straight. 32 00:01:47,240 --> 00:01:49,800 Speaker 1: Number four. The alb and Easy government continues to lobby 33 00:01:49,840 --> 00:01:54,920 Speaker 1: Washington hoping for last minute exemption on steel and aluminium tariffs. 34 00:01:55,240 --> 00:01:58,200 Speaker 1: Levies of twenty five percent on the commodities are due 35 00:01:58,200 --> 00:02:01,960 Speaker 1: to kicking on Wednesday. But as we found out last week, 36 00:02:02,000 --> 00:02:05,160 Speaker 1: when it comes to tariffs, for example on Canada and Mexico, 37 00:02:05,600 --> 00:02:08,240 Speaker 1: the show is never over until Donald Trump has made 38 00:02:08,240 --> 00:02:11,919 Speaker 1: his final pronouncement. Even then, it's not really over Today. 39 00:02:12,000 --> 00:02:14,600 Speaker 1: Prime Minister Anthony Alberanez. He said he'd spoken to Australian 40 00:02:14,639 --> 00:02:17,760 Speaker 1: steel companies and he hopes to continue to engage constructively 41 00:02:17,880 --> 00:02:21,119 Speaker 1: with the US. And story number five. For the first time, 42 00:02:21,160 --> 00:02:24,440 Speaker 1: Donald Trump hasn't ruled out a recession in the US, 43 00:02:24,520 --> 00:02:27,280 Speaker 1: conceding there could be a rough patch coming for the 44 00:02:27,320 --> 00:02:30,880 Speaker 1: world's biggest economy. It's a total turnaround from the cheerleading 45 00:02:30,960 --> 00:02:33,919 Speaker 1: ever since he's inauguration, the recent slump on Wall Street 46 00:02:33,960 --> 00:02:36,320 Speaker 1: it's down six percent since its peak in February, and 47 00:02:36,360 --> 00:02:38,480 Speaker 1: he said he had to do what's right, even if 48 00:02:38,480 --> 00:02:41,520 Speaker 1: the stock market doesn't like it. It's significant that Trump 49 00:02:41,600 --> 00:02:43,880 Speaker 1: is talking this way. He came to power claiming years 50 00:02:43,880 --> 00:02:47,560 Speaker 1: of inflation under Joe Biden he could fix that. Not 51 00:02:47,680 --> 00:02:50,560 Speaker 1: quite true. Inflation the past twelve months was actually pretty good, 52 00:02:50,919 --> 00:02:53,880 Speaker 1: but obviously his policies are now affecting the market. That's 53 00:02:53,919 --> 00:02:56,120 Speaker 1: if the Afternoon Report for Monday, the tenth of March 54 00:02:56,160 --> 00:02:58,480 Speaker 1: twenty twenty five, make sure you hit follow on the podcast. 55 00:02:58,919 --> 00:03:00,919 Speaker 1: We will be back tomorrow morning. The Tuesday edition of 56 00:03:00,960 --> 00:03:03,720 Speaker 1: the Fast five Business News by Fear and Greed. I'm 57 00:03:03,760 --> 00:03:05,480 Speaker 1: Sean Elmer. Enjoy reading it.