1 00:00:03,600 --> 00:00:06,160 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,200 --> 00:00:08,640 Speaker 1: for Monday, the fifth of May twenty twenty five. I'm 3 00:00:08,640 --> 00:00:10,680 Speaker 1: sure in al May every afternoon we've got the five 4 00:00:10,720 --> 00:00:13,280 Speaker 1: stories that happened today that you need to know about. 5 00:00:13,360 --> 00:00:16,200 Speaker 1: That's five stories on the fifth of the fifth, twenty five. 6 00:00:16,600 --> 00:00:19,680 Speaker 1: I'm liking it already join number one. After a run 7 00:00:19,800 --> 00:00:23,080 Speaker 1: run of strong performances, the local share market sold off today, 8 00:00:23,200 --> 00:00:26,239 Speaker 1: ending down nearly one percent. It started lower and kept 9 00:00:26,320 --> 00:00:28,960 Speaker 1: falling to finish of eighty one hundred and fifty eight points. 10 00:00:29,120 --> 00:00:32,000 Speaker 1: Energy stocks led the market lower more on that surely, 11 00:00:32,400 --> 00:00:36,320 Speaker 1: while financials and Turko's also did poorly. A falling price 12 00:00:36,320 --> 00:00:39,800 Speaker 1: of oil hit the majors. Woodside and Santos both dropped 13 00:00:39,840 --> 00:00:41,920 Speaker 1: quite a bit. All the banks did poorly on the 14 00:00:41,960 --> 00:00:45,560 Speaker 1: back of a Westpac result. National Australia Banking, Commonwealth Bank 15 00:00:45,600 --> 00:00:48,519 Speaker 1: fell nearly two percent. Goodman Group, mcquarie and fourty s 16 00:00:48,560 --> 00:00:50,720 Speaker 1: few Metals were all sold off best with the large caps, 17 00:00:50,760 --> 00:00:54,440 Speaker 1: with CSL and Transurban story number two. Plenty of corporate 18 00:00:54,440 --> 00:00:57,160 Speaker 1: news around today. The big one was Westpac reporting a 19 00:00:57,200 --> 00:01:00,360 Speaker 1: slightly disappointing half year profit of three point three billion 20 00:01:00,400 --> 00:01:03,360 Speaker 1: dollars lower than a year ago, with strong business lending 21 00:01:03,400 --> 00:01:06,720 Speaker 1: off setting a disappointing result on the home lending market. Also, 22 00:01:06,840 --> 00:01:09,840 Speaker 1: Goal Road Resources agreed to a three point seven billion 23 00:01:09,840 --> 00:01:13,720 Speaker 1: dollar bid from South African based gold Fields Elsewhere. Smart 24 00:01:13,720 --> 00:01:16,080 Speaker 1: pag jump more than twenty percent after the company entered 25 00:01:16,080 --> 00:01:20,160 Speaker 1: exclusive talks with an unnamed suitor, and plumbing group Reliance 26 00:01:20,160 --> 00:01:24,319 Speaker 1: Worldwide fell after saying it expects US tariffs to raise 27 00:01:24,360 --> 00:01:27,360 Speaker 1: around thirty million US dollars from its full year earnings 28 00:01:27,640 --> 00:01:31,200 Speaker 1: this financial year. Story number three. Endeavor groups pubs and 29 00:01:31,319 --> 00:01:34,280 Speaker 1: clubs are doing well as Patron's pile in to watch 30 00:01:34,319 --> 00:01:37,039 Speaker 1: the footy celebrate eastrom Anzac Day that type of thing, 31 00:01:37,440 --> 00:01:40,840 Speaker 1: but its bottle shops, including Dan Murphy's and BWS, are 32 00:01:40,840 --> 00:01:44,000 Speaker 1: having a hard time of it. Endeavor's March quarter sales struggled, 33 00:01:44,000 --> 00:01:47,199 Speaker 1: and the group has forecast flat to modest retail sales 34 00:01:47,240 --> 00:01:49,680 Speaker 1: growth for its bottle shops in the remainder of fiscal 35 00:01:49,720 --> 00:01:52,280 Speaker 1: twenty twenty five. The bottom line for Endeavor is that 36 00:01:52,320 --> 00:01:56,440 Speaker 1: consumers are finding things a bit tough. Endeva has increased 37 00:01:56,480 --> 00:01:59,240 Speaker 1: promotional and discounting, which might be good for customers but 38 00:01:59,320 --> 00:02:02,040 Speaker 1: comes at the cost of lower margins. Dan Murphy's in 39 00:02:02,080 --> 00:02:05,520 Speaker 1: BWS report at a three percent slide in third quarter sales, 40 00:02:05,840 --> 00:02:08,880 Speaker 1: while it's three hundred and fifty four pubs said revenue 41 00:02:08,960 --> 00:02:11,480 Speaker 1: is up five percent and Devis' share price dropped half 42 00:02:11,520 --> 00:02:14,960 Speaker 1: percent today. Straight number four an interesting one. Health technology 43 00:02:14,960 --> 00:02:18,920 Speaker 1: startup Eucalyptus plans to stop selling fertility and skincare products 44 00:02:18,960 --> 00:02:22,440 Speaker 1: and stores, including Woolers in price line, to concentrate its 45 00:02:22,480 --> 00:02:26,240 Speaker 1: efforts on more profitable weight loss drugs online. In a 46 00:02:26,440 --> 00:02:29,840 Speaker 1: frank assessment of the business, Eucalyptus chief executive Tim Doyle 47 00:02:30,200 --> 00:02:35,120 Speaker 1: admitted that his company's fertility brand Kin kind of sucked 48 00:02:35,919 --> 00:02:40,160 Speaker 1: his words, and skincare business software barely makes money. This 49 00:02:40,200 --> 00:02:42,480 Speaker 1: is all according to the fin Review. Eucliptus is one 50 00:02:42,520 --> 00:02:46,120 Speaker 1: of the highest profile Australian startups, backed by high profile 51 00:02:46,160 --> 00:02:50,200 Speaker 1: investors including Wilworth Spenture Capital w twenty three. It's raised 52 00:02:50,240 --> 00:02:53,200 Speaker 1: one hundred and fifty million dollars since its twenty nineteen launch, 53 00:02:53,520 --> 00:02:56,200 Speaker 1: was last valued at about five hundred and sixty million dollars. 54 00:02:56,440 --> 00:03:00,239 Speaker 1: It's Kin and Software divisions, which sells pre and State 55 00:03:00,320 --> 00:03:03,520 Speaker 1: of vitamin's and a skincare range at Willism price line. 56 00:03:03,720 --> 00:03:07,119 Speaker 1: Has generated less than ten million dollars in revenue every year. 57 00:03:07,480 --> 00:03:10,040 Speaker 1: That payals in comparison to the one hundred and twenty 58 00:03:10,040 --> 00:03:13,079 Speaker 1: one million dollars in annual revenue largely from selling weight 59 00:03:13,080 --> 00:03:17,160 Speaker 1: loss drugs in Australia, Germany, Japan and Britain. Eucliptus's Juni 60 00:03:17,480 --> 00:03:21,440 Speaker 1: and a Pilot are the country's largest online weight loss businesses. 61 00:03:21,480 --> 00:03:24,880 Speaker 1: They serve about twenty two thousand patients. Finally, story number five, 62 00:03:24,919 --> 00:03:28,720 Speaker 1: Singapore's ruling party has had an overwhelming win in elections 63 00:03:28,760 --> 00:03:31,960 Speaker 1: over the weekend, taking eighty seven of the ninety seven 64 00:03:32,080 --> 00:03:35,480 Speaker 1: seats in parliament. Makes the Labour parties win here looks 65 00:03:35,480 --> 00:03:38,920 Speaker 1: a look a little modest. It's a very different system. Obviously. 66 00:03:39,000 --> 00:03:43,240 Speaker 1: The People Action Party continues to dominate Singaporean politics after 67 00:03:43,280 --> 00:03:46,280 Speaker 1: sixty decades of rule. The opposition won ten seats in 68 00:03:46,320 --> 00:03:48,800 Speaker 1: the last elections in twenty twenty. It had hoped to 69 00:03:48,880 --> 00:03:52,480 Speaker 1: improve this time around. That wasn't to be. Analysts said 70 00:03:52,480 --> 00:03:56,280 Speaker 1: that like Canada and Australia, incumbency was a big advantage 71 00:03:56,360 --> 00:04:00,960 Speaker 1: in Singapore amid the global economic turmoil. The Afternoon Report 72 00:04:01,000 --> 00:04:03,280 Speaker 1: for Monday, the fifth of May twenty twenty five, Thanks 73 00:04:03,280 --> 00:04:05,200 Speaker 1: Sure you hit follow on the podcast. We'll be back 74 00:04:05,200 --> 00:04:07,800 Speaker 1: tomorrow morning with the Tuesday edition of Fear and Green 75 00:04:07,840 --> 00:04:10,360 Speaker 1: Business News. I'm sure I Elma enjoy your evening.