1 00:00:04,160 --> 00:00:06,920 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,960 --> 00:00:09,800 Speaker 1: for Friday, the twentieth of June twenty twenty five. I'm 3 00:00:09,800 --> 00:00:12,800 Speaker 1: Adam Lang. Every afternoon, We've got the five stories that 4 00:00:12,840 --> 00:00:15,920 Speaker 1: happen today that you need to know about. Story number one. 5 00:00:16,079 --> 00:00:19,000 Speaker 1: The S and p ASX two hundred closed lower today, 6 00:00:19,040 --> 00:00:22,840 Speaker 1: dropping eighteen points to eighty five hundred and six. The 7 00:00:22,840 --> 00:00:25,800 Speaker 1: big four banks dipped a little, while health care had 8 00:00:25,840 --> 00:00:30,120 Speaker 1: a healthy gain. The bottom performing stocks were Clarity Pharmaceuticals 9 00:00:30,400 --> 00:00:33,360 Speaker 1: and Mineral Resources Limited, which were both down six percent, 10 00:00:33,800 --> 00:00:36,800 Speaker 1: and zip Co closed best for the day, zipping up 11 00:00:36,960 --> 00:00:40,480 Speaker 1: five point seven percent. The index has lost zero point 12 00:00:40,520 --> 00:00:43,159 Speaker 1: five percent for the last five days, and it is 13 00:00:43,280 --> 00:00:46,080 Speaker 1: up five point four percent so far this calendar year. 14 00:00:46,600 --> 00:00:50,440 Speaker 1: Story number two. Higher taxes on family trusts and electric 15 00:00:50,560 --> 00:00:53,840 Speaker 1: vehicle drivers are expected to be proposed by Treasury as 16 00:00:53,880 --> 00:00:57,000 Speaker 1: options for Jim Charmers to meet his objective of raising 17 00:00:57,040 --> 00:01:01,240 Speaker 1: revenue to pay for income tax cuts and the federal budget. 18 00:01:01,280 --> 00:01:04,640 Speaker 1: And that's according to the Australian Financial Review. Other revenue 19 00:01:04,720 --> 00:01:07,560 Speaker 1: raising options to be presented to the Treasurer by stakeholders 20 00:01:07,880 --> 00:01:11,679 Speaker 1: ahead of the Productivity round Table in August include winding 21 00:01:11,720 --> 00:01:15,600 Speaker 1: back the fifty percent discount on capital gains, curtailing franking 22 00:01:15,680 --> 00:01:18,520 Speaker 1: credits as a trade off for reducing corporate tax and 23 00:01:18,680 --> 00:01:22,720 Speaker 1: implementing higher taxes on mining, energy and carbon. Earlier in 24 00:01:22,760 --> 00:01:26,080 Speaker 1: the week, Charmers pledged to lead an overhaul of Australia's 25 00:01:26,080 --> 00:01:29,360 Speaker 1: tax system that will include lower income taxes for workers 26 00:01:29,640 --> 00:01:33,960 Speaker 1: but no changes to GST. He also conceded that taxes 27 00:01:34,040 --> 00:01:38,440 Speaker 1: overall would probably need to rise to repair an unsustainable budget. 28 00:01:39,080 --> 00:01:42,200 Speaker 1: Story number three. Prime Minister Anthony Albanesi has ruled out 29 00:01:42,200 --> 00:01:45,480 Speaker 1: attending next week's NATO's summit in the Netherlands, dashing hopes 30 00:01:45,480 --> 00:01:47,840 Speaker 1: of a first face to face meeting with US President 31 00:01:47,920 --> 00:01:50,800 Speaker 1: Donald Trump. The NATO meeting had emerged as a fallback 32 00:01:50,840 --> 00:01:53,960 Speaker 1: for Albanesi after Donald Trump cut short his attendance at 33 00:01:53,960 --> 00:01:57,040 Speaker 1: the g seventh summit in Canada this week so the 34 00:01:57,120 --> 00:01:59,640 Speaker 1: US President could fly back to monitor developments in the 35 00:01:59,640 --> 00:02:03,440 Speaker 1: Middle East. Trump's early departure forced the cancelation of the 36 00:02:03,440 --> 00:02:06,560 Speaker 1: meeting with Albanzi as well as with other leaders, prompting 37 00:02:06,600 --> 00:02:10,399 Speaker 1: headlines that the PM was being snubbed. Defense Minister Richard 38 00:02:10,440 --> 00:02:13,440 Speaker 1: Miles will go ahead with attending the NATO meeting instead 39 00:02:13,520 --> 00:02:18,240 Speaker 1: of Primes Anthony Albanesi. Story number four. Foreign Minister Penny 40 00:02:18,240 --> 00:02:21,760 Speaker 1: Wong says the Australian government has directed the departure of 41 00:02:21,880 --> 00:02:25,919 Speaker 1: all Australian officials in Tehran and the Australian Defense Force 42 00:02:25,960 --> 00:02:29,600 Speaker 1: has been deployed to assist Australian citizens. Wong said a 43 00:02:29,639 --> 00:02:32,240 Speaker 1: decision to close the Australian embassy was based on the 44 00:02:32,280 --> 00:02:36,760 Speaker 1: deteriorating security environment in Iran and discussions with the Prime Minister. 45 00:02:37,120 --> 00:02:40,200 Speaker 1: Wong said it was extremely difficult to assist Australia's departing 46 00:02:40,200 --> 00:02:42,720 Speaker 1: Iran due to the situation on the ground and the 47 00:02:42,760 --> 00:02:47,000 Speaker 1: airspace remaining closed. She said Australian Defense Force personnel and 48 00:02:47,080 --> 00:02:49,760 Speaker 1: aircraft were being deployed to the Middle East as part 49 00:02:49,800 --> 00:02:52,960 Speaker 1: of the operation to assist Australians and not to join 50 00:02:53,040 --> 00:02:56,000 Speaker 1: the conflict. More than two thousand Australians have registered for 51 00:02:56,040 --> 00:03:00,239 Speaker 1: assistance to depart Iran. Currently, the airspace is closed, making 52 00:03:00,280 --> 00:03:04,080 Speaker 1: evacuation very difficult. Foreign Minister Wong confirmed that staff and 53 00:03:04,160 --> 00:03:08,600 Speaker 1: officials were redeploying from Iran to the neighboring country of Azerbaijan. 54 00:03:09,800 --> 00:03:13,200 Speaker 1: Story number five. US President Donald Trump said he will 55 00:03:13,200 --> 00:03:17,320 Speaker 1: postpone any US intervention in the Israelian campaign against Iran 56 00:03:17,360 --> 00:03:20,840 Speaker 1: for another fourteen days to give a negotiated outcome a 57 00:03:21,000 --> 00:03:24,640 Speaker 1: chance of success. White House spokeswoman Caroline Leavitt said she 58 00:03:24,720 --> 00:03:27,880 Speaker 1: had a message directly from the US President and stressed 59 00:03:27,880 --> 00:03:31,120 Speaker 1: that nobody should be surprised and mister Trump's conviction that 60 00:03:31,200 --> 00:03:33,880 Speaker 1: Iran must not be allowed to obtain a nuclear bomb. 61 00:03:34,160 --> 00:03:36,760 Speaker 1: Quoting from mister Trump, she said, based on the fact 62 00:03:36,800 --> 00:03:39,720 Speaker 1: that there's a substantial chance of negotiations that may or 63 00:03:39,760 --> 00:03:41,840 Speaker 1: may not take place with Iran in the near future, 64 00:03:42,120 --> 00:03:44,200 Speaker 1: I will make my decision whether or not to go 65 00:03:44,520 --> 00:03:47,880 Speaker 1: within the next two weeks end of quote. Missus Levitt 66 00:03:47,880 --> 00:03:50,880 Speaker 1: made clear that the US President's top priority was not 67 00:03:50,960 --> 00:03:55,400 Speaker 1: regime change, but ensuring that Iran was unable to develop 68 00:03:55,480 --> 00:03:59,080 Speaker 1: a nuclear weapon. That's it for the Afternoon Report for Friday, 69 00:03:59,160 --> 00:04:01,640 Speaker 1: the twentieth of June twenty twenty five. Make sure you 70 00:04:01,880 --> 00:04:04,280 Speaker 1: follow on the podcast and we'll be back tomorrow morning 71 00:04:04,480 --> 00:04:07,000 Speaker 1: with the weekend edition of the Fast five Business News. 72 00:04:07,000 --> 00:04:09,760 Speaker 1: Both fear and greet. I'm Adam lang Enjoy your evening.