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Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Thursday,

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Speaker 1: the twenty seventh of February twenty twenty five. I'm Sean Elmer.

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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. Stratum one, there's in

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Speaker 1: PASX two hundred closed up zero point three percent today

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Speaker 1: to eighty two hundred and sixty eight points. Consumer staples

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Speaker 1: did best, while tech and healthcare stocks were among the worst.

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Speaker 1: The big miners did well. Now In corporate news, Quantuses

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Speaker 1: share price jumped six percent after it reported strong earnings

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Speaker 1: on the back of a good performance from Jetstar. Cole's

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Speaker 1: share price also rose after it reported a slightly lower

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Speaker 1: net profit that said sales growth was faster than last

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Speaker 1: rival Woolworth. Australia's largest private hospital operator, Ramsay's Healthcare Its

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Speaker 1: share price jumped seven percent after it appointed Goldman Sack

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Speaker 1: to advise on a potential sale of its fifty two

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Speaker 1: point eight percent controlling stake in a European business Stortumer two.

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Speaker 1: Business and investment in Australia remains relatively weak, which doesn't

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Speaker 1: augur well for future economic growth. There's pockets of very

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Speaker 1: strong investment data centers, for example, but mining investment is

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Speaker 1: weakening so to construction, accommodation, rental and real estate. Bureau

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Speaker 1: of Statistics figures for the December quarter came out today.

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Speaker 1: They go into the growth figures which will be out

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Speaker 1: next week. They suggest that business investing isn't adding much

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Speaker 1: to the economy right now. The forecast is for an

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Speaker 1: economic growth rate for twenty twenty four of about one

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Speaker 1: to one and a half percent. Nothing really to write

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Speaker 1: ham about. Story number three. Australia's largest car dealership, Eager's Automotive,

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Speaker 1: jumped to twenty percent today after it said it had

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Speaker 1: outperformed the market. That came despite a twenty five percent

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Speaker 1: slide in profit. Billionaire owner Nick Poliitis holds a twenty

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Speaker 1: eight percent steak. The company has two hundred show rooms

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Speaker 1: in Australia and New Zealand. Its second hand car business

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Speaker 1: has done really well in a record profit for the

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Speaker 1: six months to the end of December. Ceok Thornton said

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Speaker 1: the industry is consolidating. Size is becoming increasingly important. Story

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Speaker 1: number four. Snarry Hydro says it will require changes in

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Speaker 1: the leadership by the main contractor on its troubled twelve

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Speaker 1: billion dollars Snowy two point zero project after a serious

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Speaker 1: safety incident that brought underground drilling work to a halt.

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Speaker 1: On Monday, failure of an underground fan occurred. It lost

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Speaker 1: part of its blade, sent shrapnel flying through the air.

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Speaker 1: Only sheer luck prevented anyone from being injured, according to

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Speaker 1: the Australian Workers' Union. Now Snowy, owned by the Commonwealth Government,

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Speaker 1: said that following the incident, it will seek an immediate

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Speaker 1: independent review and audit, noting that safety cannot be compromised

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Speaker 1: at the project. According to the finn review, it will

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Speaker 1: also require changes to principal contract a Future Generation joint

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Speaker 1: Ventures leadership on the project. Future Generation is owned by

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Speaker 1: Italy's Rebuild and Story Number five. It was the biggest

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Speaker 1: profit announcement on Wall Street for a while, and Video's

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Speaker 1: results for the three months to the end of January

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Speaker 1: and the world's biggest chip maker didn't disappoint. For that period,

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Speaker 1: sales were up seventy eight percent to thirty nine point

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Speaker 1: three billion US dollar. Its profit was higher as the

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Speaker 1: rush to build AI infrastructure accelerates in twenty twenty three.

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Speaker 1: In twenty twenty four, and Video was really the powerhouse

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Speaker 1: of Wall Street, at one point, becoming the largest company

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Speaker 1: on the burs Now, the introduction of deep Seak out

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Speaker 1: of China saw and Vidia's share price tumble, though it

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Speaker 1: has clambered back and this year it's up slightly. In

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Speaker 1: after hours training this morning, and Video's share price rows

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Speaker 1: four percent. The company said. The big unknown, however, remains

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Speaker 1: the impact of tariffs. That's it for the afternoon report

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Speaker 1: for Thursday, the twenty seventh of February twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast. We will

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Speaker 1: be back tomorrow morning with a Friday edition of The

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Speaker 1: Fast five Business Years by Heering Greek. I'm Seane Elma.

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Speaker 1: Enjoy Raging