1
00:00:04,160 --> 00:00:07,320
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:07,400 --> 00:00:10,440
Speaker 1: for Friday, the twenty sixth of September twenty twenty five.

3
00:00:10,520 --> 00:00:12,799
Speaker 1: I'm Michael Thompson, and every afternoon we've got the five

4
00:00:12,840 --> 00:00:14,840
Speaker 1: stories that happened today that you need to know about.

5
00:00:15,240 --> 00:00:19,079
Speaker 1: Let's go with story number one is markets. Of course,

6
00:00:19,120 --> 00:00:23,000
Speaker 1: the SMPA SEX two hundred closed up just slightly today,

7
00:00:23,200 --> 00:00:26,439
Speaker 1: zero point two percent higher to eighty seven hundred and

8
00:00:26,520 --> 00:00:30,240
Speaker 1: eighty seven points. Just four of the eleven sectors finished higher,

9
00:00:30,640 --> 00:00:34,239
Speaker 1: with healthcare leading losses after a new pharmaceutical tariff out

10
00:00:34,280 --> 00:00:35,920
Speaker 1: of the US. More on that one in a moment.

11
00:00:36,320 --> 00:00:39,680
Speaker 1: The miners were the big winners though today, with well

12
00:00:39,760 --> 00:00:43,559
Speaker 1: really silver companies winning gold. I like that one. The

13
00:00:43,640 --> 00:00:46,600
Speaker 1: silver price hit a fourteen year I'm sorry, that was terrible.

14
00:00:46,600 --> 00:00:48,680
Speaker 1: The silver price hit a fourteen year high, and that

15
00:00:48,760 --> 00:00:52,559
Speaker 1: pushed silver mines up five point seven percent, Andy and

16
00:00:52,640 --> 00:00:56,520
Speaker 1: silver up four point three percent, Unico silver up seventeen percent.

17
00:00:56,560 --> 00:00:58,760
Speaker 1: Good day all around for the silver miners. The big

18
00:00:58,760 --> 00:01:02,200
Speaker 1: iron ore miners also who outperformed Rio Tinto and BHP,

19
00:01:02,760 --> 00:01:06,400
Speaker 1: both climbing more than one percent. Gold miners they dipped

20
00:01:06,440 --> 00:01:08,960
Speaker 1: a little today and one actually left the Boss entirely.

21
00:01:09,120 --> 00:01:13,320
Speaker 1: Gold Road Resources delisted after its takeover by griuere Holdings,

22
00:01:13,480 --> 00:01:16,160
Speaker 1: which is owned by Goldfields. So now gold Road Resource

23
00:01:16,200 --> 00:01:20,319
Speaker 1: is owned by Goldfields makes perfect sense. The BOSS finishes

24
00:01:20,400 --> 00:01:24,039
Speaker 1: the week up zero point two percent, the same as

25
00:01:24,080 --> 00:01:27,319
Speaker 1: today's gain, but is on track to record its worst

26
00:01:27,400 --> 00:01:30,920
Speaker 1: month since March. Onder story number two. Now in US,

27
00:01:30,959 --> 00:01:33,399
Speaker 1: President Donald Trump, as I mentioned earlier, has announced a

28
00:01:33,480 --> 00:01:37,959
Speaker 1: one hundred percent tariff on branded or patented medicines entering

29
00:01:38,000 --> 00:01:41,360
Speaker 1: the US from October one, So that is next week

30
00:01:41,760 --> 00:01:45,280
Speaker 1: unless and this is significant, the drug maker has already

31
00:01:45,319 --> 00:01:49,720
Speaker 1: started building a manufacturing plant in America. Pharmaceutical imports were

32
00:01:49,720 --> 00:01:52,920
Speaker 1: already hit with twenty five percent tariffs in May. This

33
00:01:53,040 --> 00:01:57,160
Speaker 1: new impost really doubles down on that. It matters here

34
00:01:57,520 --> 00:02:01,400
Speaker 1: because pharmaceuticals are a top bossie export to the United States,

35
00:02:01,400 --> 00:02:04,320
Speaker 1: with about one point six billion dollars last year. Biotech

36
00:02:04,360 --> 00:02:07,160
Speaker 1: Giants CSL came out very quickly today and said it

37
00:02:07,160 --> 00:02:11,040
Speaker 1: doesn't expect any material impact to its business. Why because

38
00:02:11,080 --> 00:02:13,280
Speaker 1: it already has a big US footprint. It's got about

39
00:02:13,320 --> 00:02:16,679
Speaker 1: nineteen thousand staff, one hundreds of plasma collection centers, a

40
00:02:16,760 --> 00:02:20,880
Speaker 1: processing plant, in Illinois, a vaccines facility in North Carolina,

41
00:02:21,200 --> 00:02:24,040
Speaker 1: with more US investment planned over the next five years.

42
00:02:24,200 --> 00:02:27,640
Speaker 1: There are other Australian companies that also came out, including

43
00:02:27,720 --> 00:02:31,360
Speaker 1: Tilix Pharmaceuticals and miso Blast. They said there'd be no

44
00:02:31,520 --> 00:02:34,520
Speaker 1: material impact from the new tariffs on their businesses as well,

45
00:02:34,880 --> 00:02:38,000
Speaker 1: didn't stop a sell off, though CSL was down nearly

46
00:02:38,000 --> 00:02:42,040
Speaker 1: two percent. Tilix and Misoblast were both off around three

47
00:02:42,040 --> 00:02:45,640
Speaker 1: and a half percent. Story number three, a Quantus flight

48
00:02:45,760 --> 00:02:49,080
Speaker 1: from Sydney to Auckland, has landed safely after issuing a

49
00:02:49,160 --> 00:02:52,800
Speaker 1: May Day call over the Tasman Sea Today. Flight one

50
00:02:52,919 --> 00:02:55,240
Speaker 1: four one, which was a Boeing seven three seven with

51
00:02:55,240 --> 00:02:58,480
Speaker 1: one hundred and sixty two passengers on board, reported a

52
00:02:58,600 --> 00:03:02,680
Speaker 1: possible fire in the cargo hold about an hour before landing.

53
00:03:03,080 --> 00:03:06,760
Speaker 1: Emergency crews lined the runway in Auckland as the aircraft

54
00:03:06,800 --> 00:03:10,520
Speaker 1: touched down. Quantas said the pilot's followed procedure, but initial

55
00:03:10,600 --> 00:03:14,440
Speaker 1: checks suggest there was no fire. Engineers are of course

56
00:03:14,480 --> 00:03:17,400
Speaker 1: inspecting the plane. Passengers said the crew did an excellent

57
00:03:17,480 --> 00:03:20,320
Speaker 1: job keeping them calm during the flight. Witnesses counted more

58
00:03:20,320 --> 00:03:22,920
Speaker 1: than a dozen fire trucks waiting at the airport. This

59
00:03:23,000 --> 00:03:25,800
Speaker 1: was a massive response to this. Two passengers were treated

60
00:03:25,840 --> 00:03:29,600
Speaker 1: for minor conditions. The airfield apparently is now operating normally.

61
00:03:30,000 --> 00:03:32,760
Speaker 1: Story number four. Visa has pushed back on the Reserve

62
00:03:32,800 --> 00:03:38,280
Speaker 1: Bank's plan to ban card surcharges and lower interchange fee caps,

63
00:03:38,560 --> 00:03:41,400
Speaker 1: changes that the RBA says could save shopers one point

64
00:03:41,400 --> 00:03:44,400
Speaker 1: two billion dollars a year and strip around nine hundred

65
00:03:44,400 --> 00:03:47,640
Speaker 1: million dollars from banks and card schemes. The concern is

66
00:03:47,680 --> 00:03:51,080
Speaker 1: from Visa that SMEs could wear the costs and Australia

67
00:03:51,120 --> 00:03:54,480
Speaker 1: may miss the next wave of payments, innovation and anti

68
00:03:54,560 --> 00:03:58,480
Speaker 1: fraud technology if revenues shrink. Visa says the ecosystem needs

69
00:03:58,520 --> 00:04:00,720
Speaker 1: about two billion dollars a year over the next few

70
00:04:00,760 --> 00:04:04,960
Speaker 1: years to upgrade security and enable things like AI agent

71
00:04:05,080 --> 00:04:09,600
Speaker 1: led commerce that orders and pays for essentials automatically. Finally,

72
00:04:09,640 --> 00:04:12,920
Speaker 1: story number five, the multi billion dollar sale of TikTok

73
00:04:13,240 --> 00:04:16,159
Speaker 1: is getting closer in the United States after President Donald

74
00:04:16,200 --> 00:04:19,640
Speaker 1: Trump signed an executive order paving the way for a

75
00:04:19,760 --> 00:04:24,160
Speaker 1: US joint venture where Chinese company ByteDance owns less than

76
00:04:24,200 --> 00:04:27,479
Speaker 1: twenty percent of the platform. Under the deal, TikTok would

77
00:04:27,560 --> 00:04:31,560
Speaker 1: have a US majority board and US control of the algorithm.

78
00:04:31,720 --> 00:04:34,719
Speaker 1: The whole thing is worth evalued at around fourteen billion

79
00:04:34,800 --> 00:04:40,160
Speaker 1: US dollars now. Big names involved include Oracles, Larry Ellison, Dell's,

80
00:04:40,440 --> 00:04:44,920
Speaker 1: Michael Dell, Rupert, and Lachlan Murdock. But there is a catch.

81
00:04:45,320 --> 00:04:48,960
Speaker 1: Beijing has to approve any transfer or control of the

82
00:04:49,000 --> 00:04:54,320
Speaker 1: recommendation algorithm, which China actually classifies as export restricted technology.

83
00:04:54,800 --> 00:04:57,440
Speaker 1: The move aims to keep TikTok operating in the US.

84
00:04:57,480 --> 00:04:59,600
Speaker 1: We've been talking about this for a long time while

85
00:04:59,600 --> 00:05:03,799
Speaker 1: address data security and influence concerns following the twenty twenty

86
00:05:03,800 --> 00:05:07,200
Speaker 1: four law it passed last year that forces divestment from

87
00:05:07,320 --> 00:05:11,320
Speaker 1: foreign adversary control. That's it for the afternoon Report for Friday,

88
00:05:11,400 --> 00:05:14,440
Speaker 1: the twenty sixth of September twenty twenty five. Make sure

89
00:05:14,440 --> 00:05:16,240
Speaker 1: you hit follow on the podcast and we'll be back

90
00:05:16,240 --> 00:05:18,680
Speaker 1: tomorrow morning with the weekend edition of the Fast five

91
00:05:18,720 --> 00:05:21,760
Speaker 1: Business News by Fear and Greed. I'm Markel Thompson. Enjoy

92
00:05:21,800 --> 00:05:22,240
Speaker 1: your evening.