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

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Speaker 1: for Monday, the tenth of February twenty twenty five. I'm

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Speaker 1: Sean Elmer. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Story number one,

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Speaker 1: Donald Trump overnight said the US will soon implement twenty

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Speaker 1: five percent tariffs on metal products, which, if enacted, will

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Speaker 1: capture Australia's steel and aluminum makers. The new surprised markets,

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Speaker 1: sending the ASEX two hundred downs sharply this morning, before

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Speaker 1: it recovered late in the day to finish off zero

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Speaker 1: point three percent to eight thousand, four hundred and eighty

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Speaker 1: three points. All in all, wasn't really a bad result

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Speaker 1: considering the week leading from Wall Street and the Trump announcement.

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Speaker 1: Tech stocks and Telco's were among the worst performers. Outside earnings,

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Speaker 1: which will come to in a moment, There are a

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Speaker 1: couple of notable announcements. Stay Entertainment Group rose fourteen percent

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Speaker 1: after it said it would not accept an offer from

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Speaker 1: a Chinese consortium to take over its fifty percent steak

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Speaker 1: and debt in Queen's Wharf complex in Brisbane, and Main

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Speaker 1: Farmer Group jumped more than twenty percent at one point

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Speaker 1: after the company forecast a big jump in pretax earnings

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Speaker 1: thanks to strong growth in its women's health range. Story

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Speaker 1: number two. Earning season kicks off properly this week. Today

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Speaker 1: JB hi Fi posted a rise in sales and revenue,

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Speaker 1: but boss Terry Smart was cautious about the economic outlook

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Speaker 1: that sent its share price down five percent. Car Sales

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Speaker 1: share price fell seven percent after it reported disappointing earnings,

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Speaker 1: and medical gloves and surgical gown manufacturer Ansels share price

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Speaker 1: surged eight percent after announce again big jump in half

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Speaker 1: a year profit. The group said it plans to lift

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Speaker 1: prices to offset the impact of winning tariffs imposed by

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Speaker 1: the US government and shift some manufacturing out of China

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Speaker 1: to spirit its production more evenly. Story number three. The

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Speaker 1: corporate watchdog has accused the former leadership team of Star

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Speaker 1: Entertainment of putting profitability ahead of risk and misleading a

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Speaker 1: major lender. The australiansk Curities and Investments Commission is suing

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Speaker 1: ten former executives and directors of Star Entertainment, including former

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Speaker 1: chief executive Matt Beckier and chairman John O'Neill, for alleged

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Speaker 1: breaches of their director's duties. Assek alleges that the group

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Speaker 1: did not pay enough attention to the risks of money

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Speaker 1: laundering and the infiltration of the casino by criminal organizations.

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Speaker 1: Assek began several proceedings against eleven directors and executives a

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Speaker 1: couple of years ago, but it was delayed. Now one

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Speaker 1: of the Star's former leadership team, the former CFO, has

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Speaker 1: agreed to a settlement with Assex being picked up again

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Speaker 1: suing ten former execs and directors. The case against Starr

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Speaker 1: will test the boundaries of knowledge of wrongdoing and whether

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Speaker 1: that knowledge puts a director in breach of their duties

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Speaker 1: of good faith and due diligence. A bit of a

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Speaker 1: test case. The defendants have all denied they breached any

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Speaker 1: director's duties. Stright Um before. Woolworths is ordering its ten

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Speaker 1: thousand office based workers to come back to the workplace

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Speaker 1: at least three days a week, following similar mandate from

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Speaker 1: Coles last year. In a note to staff boss Amanda

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Speaker 1: Bardwell this morning said the organization wants to create more

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Speaker 1: in person opportunities. Slowly, slowly, corporates are cajoling and encouraging

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Speaker 1: people to come back to the office and storry number five.

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Speaker 1: The Cook Islands will sign a strategic agreement with China,

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Speaker 1: in a move that's rattled New Zealand and deepen concerns

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Speaker 1: about Beijing's influence in our region. Mark Brown, the archipelago's

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Speaker 1: Prime Minister, is traveling to China for a state visit

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Speaker 1: and will sign a comprehensive strategic partnership that will cover

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Speaker 1: everything from trade and tourism to renewable energy. The islands

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Speaker 1: were controlled by New Zealand until the nineteen sixties and

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Speaker 1: have a very small population of about fifteen thousand people. Now,

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Speaker 1: New Zealand still provides financial backing. Deputy PM of New Zealand,

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Speaker 1: Winston Peters said the government was blindsided by the move

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Speaker 1: and called on the Cook Islands to share the details

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Speaker 1: of the agreement with New Zealand authorities as required by

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Speaker 1: its constitution. Brown has responded that there's no need for

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Speaker 1: New Zealand to be in the room, arguing that the

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Speaker 1: pact with China is not related to security or policing,

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Speaker 1: so doesn't needs sign off. That's all, according to the

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Speaker 1: ft as if the afternoon report for Monday, the tenth

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Speaker 1: of February 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 Tuesday edition The Fast five Business News by Fear

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Speaker 1: and Greed. I'm Sean Elmer. Enjoy reading