1 00:00:03,520 --> 00:00:06,480 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,559 --> 00:00:08,720 Speaker 1: for Wednesday, the twenty seventh of August. 3 00:00:08,360 --> 00:00:10,240 Speaker 2: Twenty twenty five. Are Michael Thompson. 4 00:00:10,440 --> 00:00:12,680 Speaker 1: Every afternoon, We've got the five stories that happened today 5 00:00:12,680 --> 00:00:15,240 Speaker 1: that you need to know about. There's been plenty on today, 6 00:00:15,240 --> 00:00:17,639 Speaker 1: so let's get going. Story number one. The S and 7 00:00:17,680 --> 00:00:20,759 Speaker 1: PASX two hundred climbed zero point three percent today to 8 00:00:20,960 --> 00:00:24,280 Speaker 1: eight thousand, nine hundred and sixty one points, riding a 9 00:00:24,400 --> 00:00:28,280 Speaker 1: wave of company results, but an unexpected jump in the 10 00:00:28,280 --> 00:00:31,960 Speaker 1: monthly inflation data saw traders reassess expectations of a rate 11 00:00:32,040 --> 00:00:36,440 Speaker 1: cut in September, expecting to see a cut in November instead. 12 00:00:36,920 --> 00:00:39,560 Speaker 1: That had an impact on market today. It was a 13 00:00:39,560 --> 00:00:43,080 Speaker 1: big day as well for the lithium miners Liontown Resources 14 00:00:43,159 --> 00:00:46,320 Speaker 1: up nine and a half percent PLS formally, Pilbrim Minerals 15 00:00:46,440 --> 00:00:51,199 Speaker 1: up almost nine percent after UBS upgraded expectations on lithium prices. 16 00:00:51,520 --> 00:00:55,200 Speaker 1: But wow, what a day for company results headlined by 17 00:00:55,600 --> 00:00:57,160 Speaker 1: really It's a bit hard to pick the headline. There 18 00:00:57,160 --> 00:01:00,160 Speaker 1: were so many big results. Woolworth's its share price it 19 00:01:00,240 --> 00:01:04,240 Speaker 1: had nearly fifteen percent, with investors worried about the outlook 20 00:01:04,240 --> 00:01:07,679 Speaker 1: and a big drop in profit. Wise, Tech Global missed expectations. 21 00:01:07,720 --> 00:01:11,760 Speaker 1: It fell twelve percent. Domino's Pizza dropped a whopping twenty 22 00:01:11,880 --> 00:01:13,960 Speaker 1: two percent. It's had a bad start to the new 23 00:01:14,000 --> 00:01:18,760 Speaker 1: financial year. Better news though, for Tabcorp, soaring nearly twenty 24 00:01:19,000 --> 00:01:22,479 Speaker 1: four percent today at share price through the roof after 25 00:01:22,520 --> 00:01:25,280 Speaker 1: cutting costs and reporting a profit. We will have more 26 00:01:25,319 --> 00:01:28,479 Speaker 1: in tomorrow morning show and an update on Flight Center 27 00:01:28,640 --> 00:01:30,040 Speaker 1: as well, in a moment, which was one of the 28 00:01:30,120 --> 00:01:31,160 Speaker 1: interesting results today. 29 00:01:31,560 --> 00:01:34,800 Speaker 2: Story number two. Federal Liberal minister Linda Reynolds has been 30 00:01:34,800 --> 00:01:37,840 Speaker 2: awarded more than three hundred thousand dollars in damages in 31 00:01:37,880 --> 00:01:42,360 Speaker 2: her defamation case against ex staffer Brittany Higgins. The WA 32 00:01:42,440 --> 00:01:46,560 Speaker 2: Supreme Court found two social media posts defamed Reynolds. There 33 00:01:46,560 --> 00:01:49,160 Speaker 2: was a twenty twenty two tweet and a twenty twenty 34 00:01:49,160 --> 00:01:52,920 Speaker 2: three Instagram story and breached a non disparagement agreement, But 35 00:01:53,000 --> 00:01:56,560 Speaker 2: the judge did reject Reynolds's broader conspiracy claims and upheld 36 00:01:56,640 --> 00:01:59,960 Speaker 2: higgins defense over a third post. Reynolds said her rep 37 00:02:00,000 --> 00:02:03,200 Speaker 2: dictation has finally been restored after what she called a 38 00:02:03,360 --> 00:02:06,840 Speaker 2: quote despicable lie that wrecked her career. In a statement 39 00:02:06,880 --> 00:02:09,320 Speaker 2: to Britney, Higgins said she was grateful the case was over. 40 00:02:09,639 --> 00:02:12,080 Speaker 2: She offered an apology for hurt caused and said she 41 00:02:12,160 --> 00:02:15,320 Speaker 2: now hoped to rebuild her life. Story number three. Tough 42 00:02:15,360 --> 00:02:18,480 Speaker 2: times are continuing for Flight Center. As I mentioned earlier, 43 00:02:18,520 --> 00:02:21,560 Speaker 2: Boss Graham Turner today warning that turbulence in the global 44 00:02:21,600 --> 00:02:24,960 Speaker 2: travel market is weighing heavily on bookings. Flare ups in 45 00:02:25,000 --> 00:02:27,560 Speaker 2: the Middle East and weaker US demand of both hit 46 00:02:27,600 --> 00:02:30,840 Speaker 2: the company's annual profit, which slips nearly ten percent. Some 47 00:02:30,960 --> 00:02:34,359 Speaker 2: of the problems identified by the company include the Katari 48 00:02:34,440 --> 00:02:38,520 Speaker 2: airspace being closed during the Israel Iran strikes, an eleven 49 00:02:38,560 --> 00:02:41,560 Speaker 2: percent downturn in travel to the US, and the June quarter. 50 00:02:41,919 --> 00:02:45,720 Speaker 2: But Graham Turner does insist that history shows travel demand 51 00:02:45,840 --> 00:02:49,040 Speaker 2: eventually bounces back, and he says they're already starting to 52 00:02:49,040 --> 00:02:52,600 Speaker 2: see signs of stabilization. Flight Center's share price closed more 53 00:02:52,639 --> 00:02:55,760 Speaker 2: than four percent lower today. Story number four. After a 54 00:02:55,880 --> 00:02:58,840 Speaker 2: series of false starts and disasters, finally a bit of 55 00:02:58,840 --> 00:03:02,600 Speaker 2: good news for Elon must SpaceX. A scheduled launch on 56 00:03:02,720 --> 00:03:05,280 Speaker 2: Sunday was called off because of a liquid oxygen leak, 57 00:03:05,360 --> 00:03:10,360 Speaker 2: then weather scrubbed Monday's attempt but earlier today, the four 58 00:03:10,440 --> 00:03:13,080 Speaker 2: hundred and three foot rocket, This thing is a monster, 59 00:03:13,480 --> 00:03:16,800 Speaker 2: lifted off from South Texas, flew into space, deployed a 60 00:03:16,840 --> 00:03:20,639 Speaker 2: whole bunch of dummy Starlink satellites, re entered the atmosphere 61 00:03:20,680 --> 00:03:24,120 Speaker 2: before splashing down successfully in the Indian Ocean. It was 62 00:03:24,160 --> 00:03:27,720 Speaker 2: a major stress test for the Starship spacecraft, and it 63 00:03:27,720 --> 00:03:30,839 Speaker 2: comes after a series of explosions and mishaps a lot 64 00:03:30,880 --> 00:03:33,160 Speaker 2: of pressure on this Elon Musk wants to launch an 65 00:03:33,280 --> 00:03:37,520 Speaker 2: uncrued version of the vehicle to Mars next year. He's 66 00:03:37,560 --> 00:03:39,480 Speaker 2: already said though that that meeting that goal is going 67 00:03:39,560 --> 00:03:42,040 Speaker 2: to be tough. He's also supposed to have a version 68 00:03:42,080 --> 00:03:44,640 Speaker 2: of the ship ready for twenty twenty seven to land 69 00:03:44,760 --> 00:03:47,800 Speaker 2: astronauts on the Moon. That one is in partnership with NASA. 70 00:03:48,600 --> 00:03:51,920 Speaker 2: And finally, story number five. US President Donald Trump has 71 00:03:51,960 --> 00:03:56,160 Speaker 2: weighed in on one of America's most high profile celebrity romances, 72 00:03:56,600 --> 00:04:00,280 Speaker 2: wishing popstar Taylor Swift and NFL player Travis key Elsey 73 00:04:00,400 --> 00:04:04,320 Speaker 2: good luck on their engagement. Asked for his reaction during 74 00:04:04,320 --> 00:04:06,520 Speaker 2: a cabinet meeting, is of course, why wouldn't he be, 75 00:04:07,280 --> 00:04:10,160 Speaker 2: the President said, well, I wish them a lot of Luck. 76 00:04:10,320 --> 00:04:12,560 Speaker 2: I think he's a great player, a great guy. I 77 00:04:12,560 --> 00:04:15,960 Speaker 2: think she's a terrific person. It's a slightly warmer note 78 00:04:16,320 --> 00:04:19,600 Speaker 2: than his usual comments about Taylor Swift, who he's repeatedly 79 00:04:19,600 --> 00:04:21,640 Speaker 2: criticized in the past. In fact, just last year, he 80 00:04:21,680 --> 00:04:25,360 Speaker 2: declared I hate Taylor Swift after she endorsed the Democratic 81 00:04:25,440 --> 00:04:29,320 Speaker 2: nominee following his debate with Kamala Harris. Earlier, he had 82 00:04:29,360 --> 00:04:32,039 Speaker 2: praised Kelsey as a great player, but joke that the 83 00:04:32,160 --> 00:04:34,719 Speaker 2: Chief Star was probably a liberal and can't stand me. 84 00:04:35,279 --> 00:04:37,680 Speaker 2: That did for the Afternoon Report for Wednesday, the twenty 85 00:04:37,720 --> 00:04:39,840 Speaker 2: seventh of August twenty twenty five, make sure you hit 86 00:04:39,920 --> 00:04:42,119 Speaker 2: follow on the podcast and we'll be back tomorrow morning 87 00:04:42,160 --> 00:04:45,239 Speaker 2: with the Thursday edition of Fear and Greed. I'm Michael Thompson. 88 00:04:45,600 --> 00:04:46,560 Speaker 1: Enjoy your evening.