1 00:00:04,120 --> 00:00:07,280 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,320 --> 00:00:10,080 Speaker 1: for Thursday, the twenty eighth of August twenty twenty five. 3 00:00:10,119 --> 00:00:12,360 Speaker 1: Oh Michael Thompson, and every afternoon, We've got the five 4 00:00:12,400 --> 00:00:14,400 Speaker 1: stories that happened today that you need to know about. 5 00:00:14,880 --> 00:00:17,599 Speaker 1: Let's go cracking story number one. The S and p 6 00:00:17,800 --> 00:00:21,040 Speaker 1: ASX two hundred climbed zero point two percent today to 7 00:00:21,120 --> 00:00:24,279 Speaker 1: eight thousand, nine hundred and eighty points off the back 8 00:00:24,320 --> 00:00:29,000 Speaker 1: of another very full day of earnings results. Quantus delivered 9 00:00:29,040 --> 00:00:32,920 Speaker 1: a profit of two point three nine billion dollars that 10 00:00:33,040 --> 00:00:36,479 Speaker 1: is its second highest ever, sending its share price up 11 00:00:36,600 --> 00:00:39,800 Speaker 1: nine point one percent to a record high for the 12 00:00:39,800 --> 00:00:42,440 Speaker 1: airline shares. A lot of the heavy lifting today, though, 13 00:00:42,440 --> 00:00:45,320 Speaker 1: on the burs was done by the banks. National Australian Bank, 14 00:00:45,400 --> 00:00:49,479 Speaker 1: Comnwealth Bank both up more than two percent. Westpac climbed 15 00:00:49,520 --> 00:00:51,680 Speaker 1: one point three percent, A and D was up almost 16 00:00:51,760 --> 00:00:54,720 Speaker 1: one percent. As often seems to be the case lately, 17 00:00:54,760 --> 00:00:57,440 Speaker 1: the banks go up, the miners go down. BHP, rere 18 00:00:57,520 --> 00:01:00,800 Speaker 1: Tinto both down. Mineral Resources dropped one point six percent 19 00:01:00,840 --> 00:01:04,440 Speaker 1: on a big loss for FY twenty five and disappointing 20 00:01:04,480 --> 00:01:08,040 Speaker 1: guidance for next year. Investors liked what they heard from 21 00:01:08,080 --> 00:01:12,760 Speaker 1: IDP Education Today delivering cost savings, sending it share price 22 00:01:12,840 --> 00:01:17,000 Speaker 1: almost thirty percent higher. And West Farmer's owner of Bunnings, 23 00:01:17,160 --> 00:01:19,520 Speaker 1: was up zero point four percent after it posted a 24 00:01:19,720 --> 00:01:23,520 Speaker 1: fourteen percent rise in net profit onto story number two 25 00:01:23,560 --> 00:01:27,760 Speaker 1: now and booming sales of Chinese electric vehicles have helped 26 00:01:27,800 --> 00:01:31,160 Speaker 1: Eagers Automotive to a stronger than expected half year profit. 27 00:01:31,640 --> 00:01:35,880 Speaker 1: The nation's biggest dealership group, lifted after tax profit two 28 00:01:35,920 --> 00:01:39,760 Speaker 1: point three percent to one hundred and nineteen million dollars. Now. 29 00:01:39,959 --> 00:01:44,560 Speaker 1: BYD sales more than doubled to twenty three thousand, three 30 00:01:44,680 --> 00:01:48,040 Speaker 1: hundred and fifty five vehicles in the half, according to 31 00:01:48,040 --> 00:01:52,400 Speaker 1: the Financial Review, and Eagers sold about eighty percent of 32 00:01:52,480 --> 00:01:55,360 Speaker 1: all new BYD vehicles in the country. Until recently, Eagers 33 00:01:55,400 --> 00:01:59,640 Speaker 1: actually held the exclusive rights to sell bid. The company 34 00:01:59,640 --> 00:02:02,600 Speaker 1: says that plans now to add more Chinese car brands 35 00:02:02,640 --> 00:02:05,200 Speaker 1: to it stable. It is certainly continuing the trend that 36 00:02:05,240 --> 00:02:08,040 Speaker 1: we've seen. There are at least twenty three Chinese brands 37 00:02:08,080 --> 00:02:11,680 Speaker 1: already for sale in Australia or that have confirmed plans 38 00:02:11,680 --> 00:02:14,600 Speaker 1: to launch here, another five likely to arrive soon. This 39 00:02:14,639 --> 00:02:17,760 Speaker 1: is according to the dealers Association back to eagers. Though 40 00:02:17,800 --> 00:02:20,960 Speaker 1: the result and the optimism about the future and those 41 00:02:21,040 --> 00:02:23,960 Speaker 1: plans for what they're going to do will a sent 42 00:02:24,040 --> 00:02:27,240 Speaker 1: EGA's share price up more than twelve percent today. Story 43 00:02:27,320 --> 00:02:30,760 Speaker 1: number three, This is Extraordinary. Nine News has demanded a 44 00:02:30,800 --> 00:02:35,119 Speaker 1: public apology from federal MP Bob Catter after a fiery 45 00:02:35,160 --> 00:02:40,160 Speaker 1: press conference where the MP threatened a reporter and branded 46 00:02:40,240 --> 00:02:42,760 Speaker 1: him a racist. Now. If you haven't seen the footage, 47 00:02:42,800 --> 00:02:46,720 Speaker 1: it is worth checking out online. Josh Bavas had asked 48 00:02:46,880 --> 00:02:50,440 Speaker 1: about mister Catter's Lebanese heritage in the context of his 49 00:02:50,520 --> 00:02:53,520 Speaker 1: comments about migration, when the eighty year old cut him off, 50 00:02:53,560 --> 00:02:56,960 Speaker 1: saying he'd punch blokes in the mouth for asking that. 51 00:02:57,080 --> 00:02:59,240 Speaker 1: He then told the rest of the press pack, this 52 00:02:59,320 --> 00:03:01,680 Speaker 1: man is a race tis don't listen to him now. 53 00:03:01,760 --> 00:03:05,400 Speaker 1: Nine's news director called the behavior unacceptable and said Babas 54 00:03:05,600 --> 00:03:09,840 Speaker 1: was asking a legitimate question. The reporter himself described the 55 00:03:09,840 --> 00:03:12,760 Speaker 1: exchange as extraordinary, saying in nearly twenty years he'd never 56 00:03:12,840 --> 00:03:17,200 Speaker 1: seen such reaction from an elected official. Story number four 57 00:03:17,360 --> 00:03:21,960 Speaker 1: Expelled Iranian Ambassador Ahmed Today has been spotted leaving his 58 00:03:22,080 --> 00:03:25,640 Speaker 1: residence in Canberra waving to journalists while refusing to answer 59 00:03:25,680 --> 00:03:28,960 Speaker 1: questions about his country's role in recent anti Semitic attacks. 60 00:03:29,240 --> 00:03:31,400 Speaker 1: Today he said, and this is a quote. I love 61 00:03:31,440 --> 00:03:35,520 Speaker 1: Australian people. Bye bye. The Australian newspaper described him as 62 00:03:35,640 --> 00:03:39,240 Speaker 1: smirky as he left. Staffers were seen carrying boxes from 63 00:03:39,240 --> 00:03:41,440 Speaker 1: the property ahead of his departure, with less than twenty 64 00:03:41,440 --> 00:03:44,960 Speaker 1: four hours left before he must leave the country having 65 00:03:45,040 --> 00:03:49,440 Speaker 1: been expelled by the federal government. His exit follows revelations 66 00:03:49,440 --> 00:03:53,120 Speaker 1: from as O chief Mike Burgess that Iran's Revolutionary Guard 67 00:03:53,360 --> 00:03:57,880 Speaker 1: directed arson attacks on two Jewish sites in Sydney and Melbourne, 68 00:03:58,200 --> 00:04:02,000 Speaker 1: using middleman and organized crime figures to attempt to hide 69 00:04:02,040 --> 00:04:06,720 Speaker 1: its involvement. And finally, story number five. Chip maker Nvidia 70 00:04:06,800 --> 00:04:11,680 Speaker 1: has smashed expectations again, posting quarterly revenue of forty six 71 00:04:11,760 --> 00:04:16,000 Speaker 1: point seven billion US dollars and twenty five point eight 72 00:04:16,240 --> 00:04:20,280 Speaker 1: billion US dollars in profit, both ahead of forecasts, and 73 00:04:20,320 --> 00:04:24,200 Speaker 1: it's guiding to fifty four US billion in sales next quarter. 74 00:04:24,480 --> 00:04:28,159 Speaker 1: You would think with results like that, where they have 75 00:04:28,279 --> 00:04:32,440 Speaker 1: exceeded expectations, investors would have been pleased. Not the case. 76 00:04:32,680 --> 00:04:36,240 Speaker 1: Shares an Nvidia dipped about two percent in after ours 77 00:04:36,279 --> 00:04:41,160 Speaker 1: trading growth is slowing, it seems. Sales rose just fifty 78 00:04:41,200 --> 00:04:44,360 Speaker 1: six percent, down from triple digit gains a year ago. 79 00:04:44,680 --> 00:04:48,040 Speaker 1: Data center revenue missed estimates for the second straight quarter. 80 00:04:48,640 --> 00:04:52,039 Speaker 1: See of Nvidia Jensen Huang did brush off concerns. He 81 00:04:52,120 --> 00:04:55,240 Speaker 1: said AI spending could hit four trillion US dollars by 82 00:04:55,279 --> 00:04:58,720 Speaker 1: twenty thirty and that Invidia will remain at the center 83 00:04:58,880 --> 00:05:02,520 Speaker 1: of the boom. That's it for the afternoon Report for Thursday, 84 00:05:02,600 --> 00:05:05,000 Speaker 1: the twenty eighth of August twenty twenty five. Make sure 85 00:05:05,040 --> 00:05:06,880 Speaker 1: you hit follow on the podcast and we'll be back 86 00:05:06,880 --> 00:05:09,360 Speaker 1: tomorrow morning with the Friday edition of the fast Fire 87 00:05:09,400 --> 00:05:12,520 Speaker 1: Business News by Fear and Greed Are Michael Thompson. Enjoy 88 00:05:12,560 --> 00:05:13,000 Speaker 1: your evening.