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Speaker 1: Welcome to the Fearing Greed Business Years Afternoon Report for Friday,

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Speaker 1: the ninth of April 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: local share market recorded its first negative week in about

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Speaker 1: a month, notwithstanding a half percent rise in the smp

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Speaker 1: ASX two hundred. Today, the index finished at eight two

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Speaker 1: hundred and thirty one points. Market was down about zero

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Speaker 1: point five percent for the week. Today, the tech stocks

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Speaker 1: and banks did best, while the materials companies did worst.

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Speaker 1: Among large caps, Westpac, Woollies and Woodside outperformed. BHP, A

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Speaker 1: and Z, Transurban and Aristocrat Leisure had tough days. Worst

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Speaker 1: performer on the burse was Helius. It dropped twenty five percent,

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Speaker 1: though it did go ex dividend for a special div

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Speaker 1: land payment. Story number two. Angus Taylor and Susan Lee

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Speaker 1: will run against each other for Liberal leadership, with both

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Speaker 1: declaring their candidacy today. While Dan Tien said he won't run,

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Speaker 1: Taylor page to rebuild the party on a foundation of

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Speaker 1: strong economic management, national security, and reward for effort. Ms

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Speaker 1: Lee said she wants to harness the talent among the Liberals,

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Speaker 1: meet the Australian people where they are and address the

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Speaker 1: fact that the Coalition has let women down. Meanwhile, Queensland

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Speaker 1: National Senator Matt Canavan is set to challenge David Little

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Speaker 1: Proud for the ladyship role of the National Party. That's

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Speaker 1: according to report in The Australian Story. Number three US

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Speaker 1: based co Star has struck a deal to buy real

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Speaker 1: estate classifies platform Domain for three billion dollars after months

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Speaker 1: of negotiations. Shares in Domain, which is majority owned by

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Speaker 1: Nine Entertainment, rows three percent, while nine share price jumped

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Speaker 1: six percent today. The US real estate data giant first

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Speaker 1: bought almost seventeen percent of Domain in February, offered four

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Speaker 1: dollars forty three a share for the rest of the

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Speaker 1: company sixty percent, which is owned by nine. Now nine

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Speaker 1: walk away with about one point four billion dollars after tax.

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Speaker 1: It's expected to pay about half of that to shareholders

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Speaker 1: as a fully franked special dividend. Sorry I'm a former

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Speaker 1: Query Group and now stay three point seven billion dollar

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Speaker 1: full year profit today and vowed to respond to regulate

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Speaker 1: his criticism of its risk culture, which earlier this week

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Speaker 1: resulted in extra oversight in its banking divisions. The full

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Speaker 1: year profit was up six percent and the group share

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Speaker 1: price jumped to four percent today. The result inflects a

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Speaker 1: strong performance by its asset management division and growth in

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Speaker 1: loans and deposits, as well as cost cutting. In its

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Speaker 1: annual report, Chair Glenn Stephens said the board and management

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Speaker 1: had a responsibility to ensure the highest standards of professional

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Speaker 1: conduct across the group and finding story number five. Another

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Speaker 1: Corporate one QBE chair Mike Wilkins, said state government insurance

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Speaker 1: taxes raised three and a half billion dollars more than

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Speaker 1: the entire industry's profits in twenty twenty four, and cutting

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Speaker 1: them would be the fastest way to bring relief to

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Speaker 1: customers hit with higher premiums from the rising costs of

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Speaker 1: cleaning up after the natural disasters. At its annual general

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Speaker 1: meeting today, Wilkins criticized policymakers for spending ninety seven percent

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Speaker 1: of disaster funding on recovery after catastrophes, that is in

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Speaker 1: only three percent mitigation projects like building dames and levies

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Speaker 1: according to the AFAR. He said, with the average cost

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Speaker 1: of insurance jumping sixteen percent last year, reducing state taxes

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Speaker 1: is one of the few immediate ways of cutting premiums.

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Speaker 1: That's it for the afternoon report for Friday, the ninth

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

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

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Speaker 1: the weekend edition. In the fast five business years by

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Speaker 1: fear and Greed. I'm sure Elma enjoy your Eagan