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

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Speaker 1: for Thursday, the seventeenth, July twenty twenty five. I'm sure, alma,

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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. Story number one, the

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Speaker 1: ASX two hundred hit another record closing high, up nearly

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Speaker 1: one percent to eighty six hundred and thirty nine points.

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Speaker 1: That came on the back of labor force data which

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Speaker 1: shows the unemployment rate crept up to four point three

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Speaker 1: percent last month. Bad years maybe, but it really does

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Speaker 1: up the chance of an interstrate cut next month. And

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Speaker 1: that's what investors like the banks and interstrate sensitive stocks

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Speaker 1: did best. Commwealth Bank, A and ZED, Westpac and Goodman

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Speaker 1: Group all jump more than one percent. Transurban and Zero

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Speaker 1: were both up two percent, while computer share finished three

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Speaker 1: percent higher. The gold stocks and retailers tended to underperform.

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Speaker 1: Sorry number two. The sparring in the gaming industry continues,

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Speaker 1: with ASX listed Better making an unsolicited all script takeover

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Speaker 1: bid for points Bet. Its offer proposed three point eighty

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Speaker 1: one Better shares for every one points bet share, valuing

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Speaker 1: the deal at a dollar three points. Bett said it's

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Speaker 1: reviewing the proposal and will release a target statement in

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Speaker 1: due course, including a formal recommendation from the board. Now

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Speaker 1: points Bett already has another bit on the table from

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Speaker 1: Japanese entertainment giant Mixy. It offers dollar twenty per share

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Speaker 1: in cash, which is a long way or very different

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Speaker 1: to dollar three in script. We'll see how that one

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Speaker 1: plays out. Storry number three US and ASX listed metals

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Speaker 1: producer Alcoa said it's been hit with a one hundred

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Speaker 1: and fifteen million US dollar tariff cost on its imports

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Speaker 1: of aluminium to the US from Canadian smelters. The tariffs

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Speaker 1: were set at twenty five percent from March twelve and

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Speaker 1: then increased to fifty percent on June four. Al Coal

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Speaker 1: warns it expects another ninety million US hit from tariffs

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Speaker 1: in the September quarter. Al co said it redirected some

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Speaker 1: Canadian produced aluminium to customers outside the US to mitigate

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Speaker 1: additional tarot costs. It said it's second quarter underlying earning

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Speaker 1: cells sharply, mostly due to lower alumina and aluminium prices

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Speaker 1: and higher tariff costs. Our cos share price on the

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Speaker 1: ASX is down nearly ten percent in the past week

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Speaker 1: straight number four in corporate news, Oil and gas group

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Speaker 1: Santos has increased production volumes in the second quarter, driven

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Speaker 1: by strong output in Western Australia that offset flooded impacts

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Speaker 1: in the Cooper basin. The better than expected results is

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Speaker 1: timely given Santos is under take over offer from a

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Speaker 1: Middle Eastern consortium and AASX listed car group fell after

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Speaker 1: an It announced that long serving chief executive Cameron McIntyre

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Speaker 1: would step down. He'll be replaced by chief financial officer

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Speaker 1: William Elliott. Finally, Stratum five. Donald Trump has asked Republican

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Speaker 1: politicians if he should fire the FED chair, Jerome Powell,

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Speaker 1: and also taken a swipe at his own base for

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Speaker 1: pushing what he calls the Jeffrey Epstein hoax. Starting with

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Speaker 1: Jerome Powell, Trump asked Republican members of Congress during an

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Speaker 1: Oval Office meeting if he should remove the FED chair.

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Speaker 1: Apparently they supported the idea, though Trump later said he

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Speaker 1: wasn't planning on doing anything unless there is fraud involved,

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Speaker 1: which is possible. That's according to Trump, there is no

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Speaker 1: evidence of any fraud whatsoever. Senior benkers have rallied behind

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Speaker 1: the FEED chair, supporting his independence Trump dislikes Powell for

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Speaker 1: not cutting interest rates onto Epstein. He's the disgraced financier

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Speaker 1: and child sex offender who took his own life from

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Speaker 1: prison in twenty nineteen and was an acquaintance of Donald Trump.

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Speaker 1: Many Republicans supporters of Trump want details of lists of

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Speaker 1: Epstein's friends and details of his death to be released.

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Speaker 1: Trump had promised he'd do that. Now he's changed his mind.

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Speaker 1: He accused his past supporters it's how he put it,

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Speaker 1: of pushing the Jeffrey Epstein hoax. The problem for Trump

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Speaker 1: is that many in his base don't think it's a hoax.

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Speaker 1: That's it for the Afternoon Report for Thursday, the seventeenth

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Speaker 1: of July twenty twenty five. Make sure he hit follow

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Speaker 1: on the podcast. We will be back tomorrow morning with

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Speaker 1: a Friday edition of Fewing Green Business News. I'm Sean Elmer.

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Speaker 1: Enjoy your evening