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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 fifth of September twenty twenty five.

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Speaker 2: Oh Michael Thompson.

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Speaker 1: Every afternoon, We've got the five stories that happened today

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Speaker 1: that you need to know about.

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Speaker 2: Let's go story number one.

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Speaker 1: The SMPA is Sex two hundred closed zero point five

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Speaker 1: percent higher today to eight hundred and seventy one points

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Speaker 1: nine out of the eleven sectors gained ground.

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Speaker 2: It followed a strong lead in from Wall Street, where

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Speaker 2: the S and P five hundred hit a new record.

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Speaker 2: That was because a payroll data that made a September

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Speaker 2: rate cut from the Fed more likely. Locally, the tech

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Speaker 2: stocks were a strong performer by now pay Later company

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Speaker 2: Zip was up four point seven percent and Life three

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Speaker 2: sixty was up three point one percent. Gold climbed again,

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Speaker 2: giving a boost to most of the gold miners and

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Speaker 2: a good day for some of the retailers to meyer

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Speaker 2: up three point eight percent. JB hi Fi and West

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Speaker 2: Farmers were both up nearly two percent, But overall the

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Speaker 2: rally wasn't quite enough to make up all of the

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Speaker 2: losses from earlier in the week, and the AX finished

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Speaker 2: the week lower than where it started, ending a four

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Speaker 2: week winning streak. Story number two, Labour's plan to lift

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Speaker 2: the tax rate on super earnings for balances above three

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Speaker 2: million dollars has apparently stalled, with Shadow Treasurer at Ted

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Speaker 2: O'Brien labeling the government cowards for going slow, with no

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Speaker 2: sign of the bill being debated in parliament. The policy,

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Speaker 2: which has forecast to raise two point seven billion dollars

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Speaker 2: a year, is under review inside government amid criticism of

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Speaker 2: its proposal to tax unrealized gains, a move that's been

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Speaker 2: likened to taxing paper profits. It's not just the opposition

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Speaker 2: having a cracklow. Prime Minister Anthony Alberanezi faces pressure from

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Speaker 2: both sides, all sides really business groups, farmers. Even Paul

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Speaker 2: Keating has warned that it risks damaging confidence in retirement savings,

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Speaker 2: but Treasurer at Jim Chalmers insists the plan is still

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Speaker 2: on track, even as Labour weighs up some possible refinements.

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Speaker 2: Story number three. Today quantis is sawing share price has

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Speaker 2: handed former CEO Alan Joyce a hefty parting bonus worth

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Speaker 2: almost four million dollars. How about this, though it pushes

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Speaker 2: his total remuneration over the seventeen years that he spent

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Speaker 2: at the airline, and then this period since he left

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Speaker 2: to one hundred and seventeen million dollars. Joyce's final bonus

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Speaker 2: comes despite the airline with holding nine million dollars last

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Speaker 2: year after damning court rulings over its treatment of workers.

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Speaker 2: Attention now turns to currencyo O Vanessa Hudson. Her pay

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Speaker 2: packet climb to six point three million dollars, which is

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Speaker 2: much less than what Alan Joyce received towards the end

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Speaker 2: of his stint at the airline, after the board cut

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Speaker 2: her bonus by twenty two percent in response to this

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Speaker 2: year's massive cyber attack that exposed the data of six

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Speaker 2: million customers. Some investors were pushing for tougher cuts, but

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Speaker 2: chair John Mullen told investors in Quantus's annual report that

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Speaker 2: was published today that the board had quote comp correhensively

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Speaker 2: dealt with the remuneration consequences for management from this matter

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Speaker 2: in the last financial year. Quantass share price closed zero

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Speaker 2: point six percent higher today. Story number four at Lassian

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Speaker 2: is taking on Google and Microsoft and Apple and the

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Speaker 2: browser wars. Co founder Mike cannon Brooks has announced the

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Speaker 2: company is spending nearly a billion dollars to buy the

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Speaker 2: Browser Company of New York. I love a company that

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Speaker 2: tells you exactly what it does. It is a startup

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Speaker 2: behind two other browsers. The aim here is to reinvent

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Speaker 2: the browser for the AI era of work. Canon Brooks

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Speaker 2: has argued that today's browsers were built for kind of

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Speaker 2: casual browsing, not the more demanding requirements of people who

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Speaker 2: make their living using a browser with dozens of tabs open.

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Speaker 2: We know what that's like. Atlasian's vision is a productivity

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Speaker 2: first browser powered by AI that can streamline tasks across email, projects, budgets,

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Speaker 2: design tools, that kind of thing. This is at Lassian's

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Speaker 2: biggest acquisition since Loom twenty twenty three, and finally, story

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Speaker 2: number five. Giorgio Armani, one of the most powerful figures

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Speaker 2: in global fashion, has died in Milan at the age

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Speaker 2: of ninety one. Amani built one of the most profitable

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Speaker 2: privately owned fashion empires in the world, generating billions in

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Speaker 2: annual revenue and setting a template really that's studied in

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Speaker 2: business schools. I'm deferring to the New York Times on

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Speaker 2: this one, who said that his suits redefined corporate dress

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Speaker 2: in the eighties, his embrace of Hollywood stars, effectively inventing

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Speaker 2: red carpet marketing, turning fashion into big business. Amani Group

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Speaker 2: today spans clothing lines and fragrances, accessories, hotels, restaurants. It

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Speaker 2: is a diversified empire that is still entirely family controlled.

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Speaker 2: How about this? Though even into his nineties, Amani remained

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Speaker 2: at the helm of the company, resisting calls to name

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Speaker 2: a successor, saying there'll be plenty of time for them

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Speaker 2: to figure that out later.

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Speaker 1: That's it for the Afternoon Report for Friday, the fifth

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Speaker 1: of September twenty twenty five. Make sure you hit follow

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Speaker 1: on the podcast and we'll be back tomorrow morning with

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Speaker 1: the weekend edition of the past five business news by.

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Speaker 2: Fear and Grade. Are Michael Thompson enjoy your eating