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

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Speaker 1: Report for Thursday, the nineteenth of September twenty twenty four.

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Speaker 1: I'm Suan Elmer. Every afternoon, we've got the five stories

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Speaker 1: that happen today that you need to know about. Storro

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Speaker 1: at number one. Plenty of economic news over the past

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Speaker 1: twenty four hours. The Australian Bureau Statistics are Labor for

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Speaker 1: Statistics show that forty seven five hundred new jobs were

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Speaker 1: created last month, mostly part time roles. The overall unemployment

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Speaker 1: rate was unchanged at four point two percent. While more

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Speaker 1: people are looking for work, there are more jobs to

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Speaker 1: go around. While the leading indicators of the labor market

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Speaker 1: suggest it will slow, it's only doing so very slowly.

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Speaker 1: Also overnight, the US Federal Reserve cut the benchmark rate

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Speaker 1: in the world's biggest economy by fifty basis points. The

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Speaker 1: era of easing has begun, with the Fed signaling more

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Speaker 1: reductions are on the way. It's the first cut in

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Speaker 1: more than four years and leaves the Fed Fund's target

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Speaker 1: rate at between four point seventy five percent and five percent.

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Speaker 1: Stro at number two, Well, it's the fallout from the

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Speaker 1: US rate card and the employment figures. Combined, they helped

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Speaker 1: push the local market to a new record close of

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Speaker 1: eight thousand, one hundred and eighty two points, but not

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Speaker 1: before it briefly touched eighty two hundred points at about

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Speaker 1: three o'clock today. The Big I and all miners did well,

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Speaker 1: following a rise in the price of the commodity reo

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Speaker 1: jump three point four percent, HP nearly three percent and

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Speaker 1: forest U Metals Group nearly two percent. Woodside was also up,

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Speaker 1: rising one point two percent. Staying in the resources sector,

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Speaker 1: the uranium stocks did well. James Hardy's jumped five percent,

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Speaker 1: while Goodman, Aine Zed and mcquarie Group all rows worst

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Speaker 1: of the large caps, with QB Transurbent and Ria Group.

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Speaker 1: In corporate news, engineering company Monadelphus Group unveiled new contracts

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Speaker 1: totaling two hundred and thirty million dollars. Commercial explosives maker

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Speaker 1: Aurica expects earnings to be above previous forecast for the

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Speaker 1: September half year, and Brisbane based testing Giant Als said

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Speaker 1: its minerals business has faced volume headwinds, triggering a nine

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Speaker 1: percent drop in its share price, the worst of the

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Speaker 1: top two hundred Straree Australia has abstained from a United

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Speaker 1: Nation vote calling on Israel to end its unlawful presence

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Speaker 1: in Palestine. The United Nations General Assembly adopted a Palestinian

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Speaker 1: drafted resolution demanding Israel and its unlawful presence in the

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Speaker 1: occupied Palestinian territory within twelve months. The resolution received one

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Speaker 1: hundred and twenty four votes in favor of forty three countries,

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Speaker 1: including Australia, abstained and Israel, The United States and twelve

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Speaker 1: others voted no. Foreign Affairs Minister Pennywong told ABC Radio

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Speaker 1: the government looked very carefully at the resolution and sought

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Speaker 1: amendments that meant the resolution better affected the July opinion

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Speaker 1: of the International Court of Justice that said Israel's occupation

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Speaker 1: of Palestinian territories and settlements was illegal and should be withdrawn.

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Speaker 1: That's different to unlawful presence. When the amendments weren't forthcoming,

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Speaker 1: Australia decided to abstain STRAINAMA four. Woolworths is under pressure

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Speaker 1: to ditch the Big w discount chain and spin off

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Speaker 1: its New Zealand division and returned to focusing on supermarkets.

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Speaker 1: Willies has been the underperformer of the big two supermarket chains,

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Speaker 1: with Cohle's outperforming in terms of sales growth. It's also

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Speaker 1: considered a simpler business than Woolli's. Activist shareholder doushco Barjik

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Speaker 1: from First Centier Investors, which has a small position in

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Speaker 1: the supermarket Giant, said the Big W business is destroying capital.

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Speaker 1: According to report in the AFR, BIGW competes with Kmart

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Speaker 1: and Target and has struggled for several years. Black Hole

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Speaker 1: Investment Partners Ray Davis said that the New Zealand supermarket's

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Speaker 1: division hasn't performed well and could be sold off. Woollies

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Speaker 1: has expanded aggressively in New Zealand now has about two

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Speaker 1: hundred stores. The comments were directed to New Woolli's CEO,

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Speaker 1: Amanda Bardwell. She started in the job three weeks ago.

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Speaker 1: And Story number five walkie talkies and solar equipment exploded

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Speaker 1: across Lebanon this morning Australian Time, in an apparent second

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Speaker 1: wave of attax targeting devices, a day after pages used

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Speaker 1: by Hesballah blew up. At least fourteen people were killed

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Speaker 1: and more than four hundred and fifty wounded in the

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Speaker 1: second wave, according to Hesbelah. The attacks are widely to

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Speaker 1: believe to have been carried out by Israel targeting Hesbelah

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Speaker 1: and have escalated fears of in all that war in

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Speaker 1: the region. Several blasts were heard at a funeral in

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Speaker 1: Beirut for three HESBLA members and a child killed by

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Speaker 1: the exploding pages the day before. The toll from the

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Speaker 1: two days of blast is now thirty two dead, including

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Speaker 1: at least two children, and more than three thousand injured.

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Speaker 1: Israeli Defense Minister Uav Glant said the country is entering

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Speaker 1: a new phase of fighting on its northern border with Lebanon.

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Speaker 1: That's it, fair afternoon report for your Thursday, the ninetheenth

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Speaker 1: of September twenty twenty four. Michael Thompson and I will

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Speaker 1: be back tomorrow morning with the Friday edition of Fear

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Speaker 1: and Greed Business News. I'm Schanelma. Enjoy your evening.