1 00:00:03,520 --> 00:00:06,400 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,440 --> 00:00:08,920 Speaker 1: for Tuesday, the fourth of March twenty twenty five. I'm 3 00:00:08,960 --> 00:00:12,160 Speaker 1: Suan Almer. Every afternoon, we've got the five stories that 4 00:00:12,280 --> 00:00:14,520 Speaker 1: happened today that you need to know about. Story number one. 5 00:00:14,560 --> 00:00:17,400 Speaker 1: The S ANDPA SEX two hundred closed down a zero 6 00:00:17,440 --> 00:00:21,080 Speaker 1: point six percent to eighty one hundred and ninety eight points. 7 00:00:21,160 --> 00:00:23,520 Speaker 1: It dropped more than one percent this morning following a 8 00:00:23,560 --> 00:00:27,600 Speaker 1: poor leading from Wall Street, and then recovered somewhat. The 9 00:00:27,640 --> 00:00:31,040 Speaker 1: healthcare sub index was the only one of eleven in 10 00:00:31,080 --> 00:00:33,599 Speaker 1: the black today. That's thanks to CSL, which was up 11 00:00:33,640 --> 00:00:37,840 Speaker 1: one percent. Worst worthy energy stocks among the large caps, 12 00:00:37,880 --> 00:00:41,120 Speaker 1: fortes Q, Medals Group, Woodside, Santos and Origin Energy all 13 00:00:41,200 --> 00:00:43,880 Speaker 1: dropped by more than three percent. Ten year bond yields 14 00:00:43,880 --> 00:00:46,720 Speaker 1: fell to their lowest level this year as demand for 15 00:00:46,720 --> 00:00:49,840 Speaker 1: the ultra safe assets increased. If demand rises, the price 16 00:00:49,840 --> 00:00:53,320 Speaker 1: of a bond increases, meaning the return or yield falls. 17 00:00:53,960 --> 00:00:56,360 Speaker 1: Story number two. The release of the Reserve Bank Board 18 00:00:56,480 --> 00:01:00,120 Speaker 1: mints today shows it's pretty clear that there's no and 19 00:01:00,200 --> 00:01:04,160 Speaker 1: do about another interest rate cut. On balance, the Board 20 00:01:04,319 --> 00:01:07,399 Speaker 1: said the case to lower interest rates two weeks ago 21 00:01:07,640 --> 00:01:12,520 Speaker 1: was stronger than keeping rates on hold. Underlying inflation continues 22 00:01:12,520 --> 00:01:15,800 Speaker 1: to fall, it's actually falling faster than the Board expected, 23 00:01:16,480 --> 00:01:19,080 Speaker 1: and that meant that the Board didn't need the insurance 24 00:01:19,160 --> 00:01:21,160 Speaker 1: taken out when they were raising cash rates back in 25 00:01:21,200 --> 00:01:24,200 Speaker 1: November twenty twenty three, hence the twenty five basis point 26 00:01:24,200 --> 00:01:27,600 Speaker 1: cut two weeks ago. However, the minutes say that members 27 00:01:27,640 --> 00:01:30,560 Speaker 1: agree that their decision at this meeting did not commit 28 00:01:30,640 --> 00:01:33,600 Speaker 1: them to further reductions in the cash rate target at 29 00:01:33,640 --> 00:01:38,759 Speaker 1: subsequent meetings. Sorry number three. Brisbane, Southeast Queensland and northern 30 00:01:38,760 --> 00:01:42,520 Speaker 1: New South Wales are preparing for Cyclone Alfred, with up 31 00:01:42,520 --> 00:01:45,600 Speaker 1: to a meter of rain forecast and wins in excess 32 00:01:45,640 --> 00:01:48,800 Speaker 1: of one hundred kilometers an hour for some areas. Beaches 33 00:01:48,840 --> 00:01:51,800 Speaker 1: from the Sunshine Coast to Barron Bay have been closed. 34 00:01:51,920 --> 00:01:54,760 Speaker 1: The region is home to at least four million people 35 00:01:55,160 --> 00:01:58,559 Speaker 1: and the storm has intensified to a category to cyclone. 36 00:01:58,840 --> 00:02:01,800 Speaker 1: It's expected to make lens and fall on Thursday now. 37 00:02:01,840 --> 00:02:04,440 Speaker 1: Residents of Southeast Queensland have been told to prepare for 38 00:02:04,800 --> 00:02:07,920 Speaker 1: up to three days of power outages. Alfred was five 39 00:02:08,000 --> 00:02:11,480 Speaker 1: hundred and sixty kilmeters east of Brisbane this morning, moving 40 00:02:11,560 --> 00:02:14,760 Speaker 1: south to southeast at about six kilimeters an hour. It's 41 00:02:14,800 --> 00:02:18,560 Speaker 1: expected to turn west towards the coast by this evening, 42 00:02:18,639 --> 00:02:22,320 Speaker 1: The Bureau of Meteorology says Story number four. Health Scope, 43 00:02:22,320 --> 00:02:26,120 Speaker 1: Australia's second largest private hospital operator, has failed to pay 44 00:02:26,200 --> 00:02:28,600 Speaker 1: all the rent due for March on eleven of its 45 00:02:28,639 --> 00:02:33,040 Speaker 1: facilities owned by listed property group health Co Healthcare and Wellness. 46 00:02:33,360 --> 00:02:37,360 Speaker 1: Health Co. Healthcare says its issued breach notices to health 47 00:02:37,360 --> 00:02:40,080 Speaker 1: Scope for failing to pay all the rent due. Part 48 00:02:40,120 --> 00:02:43,079 Speaker 1: payment has been received. The property company said it would 49 00:02:43,080 --> 00:02:46,920 Speaker 1: seek to replace health Scope tendancies with other hospital operators 50 00:02:47,240 --> 00:02:50,639 Speaker 1: if the breaches are not remedied. Health Scope is owned 51 00:02:50,680 --> 00:02:53,120 Speaker 1: by p group Brookfields. It's got a stack of debt 52 00:02:53,400 --> 00:02:56,200 Speaker 1: about one point six billion dollars and it's been trying 53 00:02:56,200 --> 00:03:00,000 Speaker 1: to renegotiate terms. It owns hospitals, including Sydney's Northern Beaches 54 00:03:00,160 --> 00:03:03,520 Speaker 1: Hospital and Gold Coast Private Hospital. Brook Field has been 55 00:03:03,600 --> 00:03:05,760 Speaker 1: forced to put more money into the business and in 56 00:03:05,880 --> 00:03:08,519 Speaker 1: essence it doesn't make enough money, or at least the 57 00:03:08,560 --> 00:03:11,640 Speaker 1: hospitals don't make enough money for brook Field. But hospital's 58 00:03:11,639 --> 00:03:14,000 Speaker 1: are very important pieces of the nation's health puzzle, so 59 00:03:14,040 --> 00:03:17,639 Speaker 1: selling assets or closing facilities. Ain't that easy? Health Co 60 00:03:17,800 --> 00:03:21,359 Speaker 1: Healthcare share price, which owns the properties, fell seven percent 61 00:03:21,400 --> 00:03:24,560 Speaker 1: today and story number five. US President Donald Trump is 62 00:03:24,600 --> 00:03:28,160 Speaker 1: pressing ahead with imposing tariffs of twenty five percent on 63 00:03:28,280 --> 00:03:32,320 Speaker 1: all imports from Canada and Mexico from tomorrow, saying there 64 00:03:32,360 --> 00:03:35,800 Speaker 1: is no room for last minute negotiations. The decision triggered 65 00:03:35,800 --> 00:03:38,240 Speaker 1: a sell off on Wall Street. Last month, the President 66 00:03:38,280 --> 00:03:41,680 Speaker 1: issued an executive order applying additional tariffs are twenty five 67 00:03:41,720 --> 00:03:44,520 Speaker 1: percent to all imports from Canada and Mexico, with the 68 00:03:44,600 --> 00:03:47,960 Speaker 1: exception of Canadian oil and energy products, which will face 69 00:03:48,000 --> 00:03:50,760 Speaker 1: a ten percent levy. The tariffs were delayed for one month, 70 00:03:50,800 --> 00:03:53,880 Speaker 1: but now Trump seems to want manufacturers to build factories 71 00:03:53,880 --> 00:03:56,720 Speaker 1: in the US. His quote, so what they have to 72 00:03:56,720 --> 00:03:59,240 Speaker 1: do is build their car plans, frankly and other things 73 00:03:59,280 --> 00:04:02,240 Speaker 1: in the United States, in which case they have no tariffs, 74 00:04:02,240 --> 00:04:06,480 Speaker 1: he said. Canada responded immediately, putting tariffs on one hundred 75 00:04:06,480 --> 00:04:09,680 Speaker 1: and sixty one billion dollars worth of US products. That's 76 00:04:09,720 --> 00:04:11,880 Speaker 1: it for the Afternoon Report for Tuesday, the fourth of 77 00:04:11,880 --> 00:04:14,000 Speaker 1: March twenty twenty five. Make sure you hit follow on 78 00:04:14,040 --> 00:04:16,839 Speaker 1: the podcast. We'll be back tomorrow morning with the Wednesday 79 00:04:16,960 --> 00:04:19,200 Speaker 1: edition of The Fast Five News by Fear and Greed. 80 00:04:19,320 --> 00:04:21,320 Speaker 1: I'm Shane elma Enjoy your evening.