1 00:00:04,240 --> 00:00:07,240 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,320 --> 00:00:09,880 Speaker 1: for Monday, the eighth of September twenty twenty five. Are 3 00:00:09,960 --> 00:00:12,600 Speaker 1: Michael Thompson. Every afternoon, We've got the five stories that 4 00:00:12,640 --> 00:00:14,760 Speaker 1: happened today that you need to know about. Let's go 5 00:00:14,760 --> 00:00:16,800 Speaker 1: a story number one. The S and p ASX two 6 00:00:16,880 --> 00:00:20,320 Speaker 1: hundred closed zero point two percent lower today to eight 7 00:00:21,120 --> 00:00:23,840 Speaker 1: hundred and fifty points, with eight of the eleven sectors 8 00:00:23,840 --> 00:00:27,760 Speaker 1: losing ground. Oil producers Woodside and Santos felled two point 9 00:00:27,800 --> 00:00:31,200 Speaker 1: seven percent and one point two percent, respectively, after a 10 00:00:31,240 --> 00:00:34,800 Speaker 1: decision by OPEK plus to increase oil output at a 11 00:00:34,840 --> 00:00:38,839 Speaker 1: slower pace from next month, anticipating weaker demand. Woolworths and 12 00:00:38,880 --> 00:00:42,360 Speaker 1: Coals flagged a billion dollars in back pay under payments 13 00:00:42,360 --> 00:00:44,879 Speaker 1: following a federal court decision last week that was more 14 00:00:44,920 --> 00:00:49,120 Speaker 1: than previously expected. Coals closed zero point eight percent lower today, 15 00:00:49,120 --> 00:00:52,440 Speaker 1: while Woolies actually climbed half a percent. Three of the 16 00:00:52,520 --> 00:00:56,080 Speaker 1: four big banks all dropped. Commonwealth was the only one 17 00:00:56,120 --> 00:00:57,960 Speaker 1: to record an increase, but even then it was just 18 00:00:58,240 --> 00:01:01,440 Speaker 1: zero point one percent. Good for the lithium miners and 19 00:01:01,480 --> 00:01:04,639 Speaker 1: for the tech stocks. Two headlined by Life three sixty 20 00:01:04,640 --> 00:01:07,800 Speaker 1: which was up more than six percent, and drone technology 21 00:01:07,800 --> 00:01:11,520 Speaker 1: company Drone Shield jumped more than five percent after announcing 22 00:01:11,560 --> 00:01:14,760 Speaker 1: it'll soon be included in the ASX two hundred onto 23 00:01:14,800 --> 00:01:17,920 Speaker 1: Story number two and Aaron Patterson, the Victorian woman at 24 00:01:17,920 --> 00:01:21,319 Speaker 1: the center of the infamous mushroom lunch case, has been 25 00:01:21,400 --> 00:01:24,639 Speaker 1: sentenced to life in prison with a non parole period 26 00:01:24,680 --> 00:01:29,520 Speaker 1: of thirty three years. Justice Christopher Beale found Patterson deliberately 27 00:01:29,560 --> 00:01:33,400 Speaker 1: served beef Wellington's laced with deathcap mushrooms in July twenty 28 00:01:33,440 --> 00:01:37,080 Speaker 1: twenty three, killing Don and Gail Patterson and Heather Wilkinson 29 00:01:37,200 --> 00:01:41,720 Speaker 1: and leaving Ian Wilkinson critically ill. Today's sentencing saw TV 30 00:01:41,920 --> 00:01:45,720 Speaker 1: cameras allowed inside the courtroom for the first time, streaming 31 00:01:45,800 --> 00:01:48,720 Speaker 1: the sentence live. Fifty one year old Patterson will not 32 00:01:48,760 --> 00:01:52,320 Speaker 1: be eligible for release until twenty fifty six, when she 33 00:01:52,360 --> 00:01:55,760 Speaker 1: will be eighty two, making her one of Victoria's longest 34 00:01:55,880 --> 00:02:01,040 Speaker 1: serving female inmates. Story number three takeover target Maine Farmers 35 00:02:01,080 --> 00:02:05,280 Speaker 1: share price tumbled thirteen percent today after reports that its 36 00:02:05,320 --> 00:02:09,680 Speaker 1: suitor had plans to close its Adelaide manufacturing plant. Maine 37 00:02:09,720 --> 00:02:12,920 Speaker 1: said it is aware that US healthcare giant Cosette had 38 00:02:12,960 --> 00:02:15,720 Speaker 1: told the Foreign Investment Review Board that it may close 39 00:02:15,760 --> 00:02:18,480 Speaker 1: the factory if it's six hundred and seventy two million 40 00:02:18,520 --> 00:02:22,200 Speaker 1: dollar takeover bid for the company is successful. The plant 41 00:02:22,280 --> 00:02:25,399 Speaker 1: makes pharmaceuticals and employs two hundred people, and the South 42 00:02:25,400 --> 00:02:29,000 Speaker 1: Australian Premier said that Cosette had told the Foreign Investment 43 00:02:29,040 --> 00:02:32,360 Speaker 1: Review Board of its intention to close the plant. In 44 00:02:32,400 --> 00:02:35,120 Speaker 1: a statement yesterday, Maine Farmer said it was not previously 45 00:02:35,400 --> 00:02:39,280 Speaker 1: aware of any communication between the South Australian Government, Cosette 46 00:02:39,280 --> 00:02:43,200 Speaker 1: and the Foreign Investment Review Board. However, it added that 47 00:02:43,240 --> 00:02:46,240 Speaker 1: it was now aware that Cosette had indicated a possible 48 00:02:46,240 --> 00:02:49,079 Speaker 1: intention to either close or sell the site if successful, 49 00:02:49,720 --> 00:02:52,919 Speaker 1: and as a result it's share price tumbled. Story number 50 00:02:52,919 --> 00:02:55,760 Speaker 1: four Hopes of two or three more interest rate cuts 51 00:02:55,880 --> 00:02:59,679 Speaker 1: might be fading, with Investment Bank City revising its forecast 52 00:02:59,680 --> 00:03:02,480 Speaker 1: to just one more move from the RBA. It had 53 00:03:02,480 --> 00:03:05,600 Speaker 1: previously expected another two cuts in this cycle. The Reserve 54 00:03:05,680 --> 00:03:07,880 Speaker 1: Bank has of course lowered the cash rate three times 55 00:03:07,880 --> 00:03:11,240 Speaker 1: this year and is widely expected to ease again in November. 56 00:03:11,800 --> 00:03:14,440 Speaker 1: In fact, prior to last week, markets had actually priced 57 00:03:14,480 --> 00:03:16,360 Speaker 1: in a one hundred percent chance of a cut at 58 00:03:16,400 --> 00:03:19,560 Speaker 1: the November meeting, but better than expected economic growth figures 59 00:03:19,639 --> 00:03:21,959 Speaker 1: last week saw that paired back to a seventy five 60 00:03:21,960 --> 00:03:26,200 Speaker 1: percent chance, reflected now in this forecast from City and Finally, 61 00:03:26,280 --> 00:03:29,760 Speaker 1: story number five, Florida's health department is pushing ahead with 62 00:03:29,800 --> 00:03:33,520 Speaker 1: a plan to drop compulsory vaccinations for kids. The change 63 00:03:33,560 --> 00:03:36,640 Speaker 1: will come into effect in ninety days, applying initially to 64 00:03:36,680 --> 00:03:40,800 Speaker 1: illnesses including chicken pox, hepatitis B, and new macoccal disease. 65 00:03:41,360 --> 00:03:45,080 Speaker 1: It follows the state Surgeon General's announcement that Florida would 66 00:03:45,080 --> 00:03:48,520 Speaker 1: become the first US state to make school vaccinations voluntary, 67 00:03:48,560 --> 00:03:54,720 Speaker 1: shifting responsibility to parents. Vaccines for measles, polio, diphtheria, mumps, tetanus, 68 00:03:54,920 --> 00:03:59,320 Speaker 1: and hooping cough will remain compulsory unless lawmakers extend the rollback, 69 00:03:59,320 --> 00:04:01,800 Speaker 1: which is something that can't actually occur until the next 70 00:04:01,960 --> 00:04:05,600 Speaker 1: legislative session in January of next year. Public health groups, 71 00:04:05,600 --> 00:04:09,400 Speaker 1: including the American Academy of Pediatrics warn that the change 72 00:04:09,520 --> 00:04:12,400 Speaker 1: risks student and staff safety at a time when the 73 00:04:12,480 --> 00:04:15,960 Speaker 1: US is facing its worst measles outbreak in three decades 74 00:04:16,360 --> 00:04:19,880 Speaker 1: and a sharp rise in hooping cough cases. That's it 75 00:04:19,960 --> 00:04:22,400 Speaker 1: for the Afternoon report for Monday, the eighth of September 76 00:04:22,440 --> 00:04:25,240 Speaker 1: twenty twenty five. Make sure you hit follow on the podcast, 77 00:04:25,240 --> 00:04:27,640 Speaker 1: and we'll be back tomorrow morning with the Tuesday edition 78 00:04:27,839 --> 00:04:30,000 Speaker 1: of the Past by Business News, by Fear and Greed. 79 00:04:30,240 --> 00:04:32,159 Speaker 1: A'm Michael Thompson. Enjoy your evening.