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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Friday, the sixteenth of May twenty twenty five. Ohm

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Speaker 1: Michael Thompson. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about. Let's go

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Speaker 1: so a number one. The S and PASX two hundred

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Speaker 1: rows zero point six percent today to eighty three hundred

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Speaker 1: and forty four points. That is eight straight days of

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Speaker 1: gains now for the market. In fact, it's had a

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Speaker 1: three month high and up one point four percent for

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Speaker 1: the week. There's a good lead in from Wall Street

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Speaker 1: after weaker than expected economic data increased speculation of the

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Speaker 1: Federal Reserve cutting rates. Real estate stocks did best. Goodman

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Speaker 1: Group was up nearly three percent. Vicinity Centers rose two

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Speaker 1: point two percent. It wasn't a bad day either for

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Speaker 1: the gold miners. Both Evolution Mining and Newmont jumped three

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Speaker 1: point six percent. Comonwealth Bank hit yet another record when

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Speaker 1: the market opened this morning, hitting one hundred and seventy

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Speaker 1: two dollars and seventy one cents a share, but it

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Speaker 1: couldn't quite keep it going and closed down just slightly

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Speaker 1: off zero point one percent for the day. And the

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Speaker 1: big winner Today, AI company appen Its shares swed almost

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Speaker 1: nineteen percent after a guidance update spurred plenty of optimism

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Speaker 1: from investors. Under story number two. Now and commercial property

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Speaker 1: group Dexis could be forced to sell at stake in

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Speaker 1: Melbourne Airport after co investors claimed it had breached confidentiality arrangements.

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Speaker 1: Dexas has held a twenty seven point three percent stake

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Speaker 1: in Australia's second busiest airport since twenty twenty three. Other

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Speaker 1: shareholders in the company that owns the airport include super

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Speaker 1: funds and the Future Fund. It does get a little

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Speaker 1: bit complicated, but the Financial Review reports that some of

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Speaker 1: the investors in the holdings managed by Dexas wanted to sell,

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Speaker 1: so Dexas started pitching to potential new investors, and in

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Speaker 1: doing so they allegedly disclosed confidential information such as financial forecasts.

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Speaker 1: It is likely to end up in court. Dexas shares

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Speaker 1: closed down one point one percent today. Story number three.

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Speaker 1: Former Sas soldier Ben Roberts Smith has lost his bid

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Speaker 1: to overturn a court decision that found he committed war

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Speaker 1: crimes in Afghanistan. Robert Smith had originally pursued a defamation

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Speaker 1: case against The Age and The City Morning Herald newspapers

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Speaker 1: over stories alleging he was complicit in the deaths of

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Speaker 1: four prisoners while deployed in Afghanistan between two thousand and

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Speaker 1: nine and twenty twelve. In twenty twenty three, Federal Court

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Speaker 1: Justice Anthony Bosenko dismissed that defamation case. Ben Robert Smith

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Speaker 1: then appealed, claiming a legal error in the ruling, but

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Speaker 1: the decision was today upheld by the Full Court of

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Speaker 1: the Federal Court, which dismissed his appeal and ordered him

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Speaker 1: to pay the media outlet's legal costs. Ben Robert Smith

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Speaker 1: has always maintained his innocence over this and publisher statement

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Speaker 1: today reiterating that point and declaring that he intends to

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Speaker 1: challenge the judgment now in the High Court story number four.

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Speaker 1: Nearly two weeks on from the federal election, the AEC,

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Speaker 1: the Australian Electoral Commission, has started to claring seats. The

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Speaker 1: AAC is required to officially declare a seat one. They

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Speaker 1: are public events that they hold to notify the electorate

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Speaker 1: who voters have chosen as their representative. It's all very formal.

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Speaker 1: The first declaration was held yesterday in the seat of

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Speaker 1: Marinoah in Queensland that was held easily by National's leader

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Speaker 1: David Little Proud. There are four more that were taking

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Speaker 1: place today. Of course, the count isn't over yet in

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Speaker 1: some very close seats. The seat of Bradfield and Sydney,

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Speaker 1: for instance, has just forty three votes separating the Liberal

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Speaker 1: candidate and the Teal Nationally, postal votes are still trickling

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Speaker 1: in Any received by midnight tonight will still count towards

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Speaker 1: final tallies. The AEC told the Sydney Morning Herald that

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Speaker 1: there could be about one hundred postal votes arriving today,

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Speaker 1: with overseas votes still en route. There is one flight

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Speaker 1: from Kenya that is scheduled to land tonight with a

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Speaker 1: batch of votes from the Australian High Commission there, so

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Speaker 1: it is going to come right down to the wire

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Speaker 1: and then storing number five. Donald Trump has struck a

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Speaker 1: land mark deal with the United Arab Emirates to build

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Speaker 1: the world's largest AI campus outside the United States. This

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Speaker 1: is a move being hailed as a win for American tech,

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Speaker 1: but it is raising a few eyebrows in Washington. The

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Speaker 1: ten square mile site in Abu Dhabi will be run

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Speaker 1: by US companies with the UAE reportedly allowed to import

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Speaker 1: somewhere around five hundred thousand Nvidia AI chips annually. This

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Speaker 1: is according to Reuter's. The deal was the latest to

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Speaker 1: be signed during Trump's Middle East tour of Saudi Arabia,

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Speaker 1: Qatar and the UAE. It does mark a sharp policy

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Speaker 1: shift from the Biden era, when concerns over the UAE's

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Speaker 1: links to China. Trade links to China prevented this kind

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Speaker 1: of move. Critics warn that it could weaken US control

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Speaker 1: over global chip security. That's it for the afternoon report

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Speaker 1: for Friday, the sixteenth of May twenty twenty five. Make

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Speaker 1: sure you hit follow on the podcast. We'll be back

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Speaker 1: tomorrow morning with the weekend edition of Fear and Greed.

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Speaker 1: A'm Michael Thompson. Enjoy your evening.