1 00:00:04,160 --> 00:00:06,920 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,000 --> 00:00:09,680 Speaker 1: for Tuesday, the eighth of July twenty twenty five. I'm 3 00:00:09,720 --> 00:00:12,479 Speaker 1: Sean Aelma. Every afternoon, we've got the five stories that 4 00:00:12,640 --> 00:00:15,000 Speaker 1: happened today that you need to know about storingum One 5 00:00:15,080 --> 00:00:18,320 Speaker 1: Reserve Bank today kept the official interest rate on hold 6 00:00:18,760 --> 00:00:23,040 Speaker 1: at three point eighty five percent, which in economic terms 7 00:00:23,200 --> 00:00:25,840 Speaker 1: is a bit of a bombshell. It triggered a jump 8 00:00:25,840 --> 00:00:27,920 Speaker 1: in the Aussie dollar and a drop in the share market. 9 00:00:28,200 --> 00:00:31,200 Speaker 1: By the closed the SMPASX two hundred was flat at 10 00:00:31,240 --> 00:00:36,040 Speaker 1: eighty five hundred and ninety one points. Goldstocks did best 11 00:00:36,200 --> 00:00:38,519 Speaker 1: today on the back of rising price for the precious 12 00:00:38,520 --> 00:00:43,160 Speaker 1: metal after the Trump Trade letters overnight, where Donald Trump 13 00:00:43,200 --> 00:00:48,320 Speaker 1: started imposing tariffs on other economies. The consumer staples, utilities, 14 00:00:48,360 --> 00:00:52,000 Speaker 1: improper property industes did worst, reflecting in part the interest 15 00:00:52,080 --> 00:00:57,360 Speaker 1: rate decision. Today, the telcos, financials and consumer discretionary induices 16 00:00:57,440 --> 00:00:59,680 Speaker 1: did best. Among the large caps, the big miners and 17 00:00:59,720 --> 00:01:02,360 Speaker 1: retails will lower, while the big banks were mixed. Story 18 00:01:02,480 --> 00:01:05,360 Speaker 1: number two. The Productivity Commission in Australia has warned that 19 00:01:05,480 --> 00:01:09,280 Speaker 1: billions of dollars in taxpayer subsidies for manufacturing and green 20 00:01:09,440 --> 00:01:13,760 Speaker 1: energy could be deemed trade protectionism. The Productivity Commission in 21 00:01:13,800 --> 00:01:16,640 Speaker 1: Phairly Frank Advice said subsidies under the Future Made in 22 00:01:16,640 --> 00:01:20,960 Speaker 1: Australia Banner and the National Reconstruction Fund could be considered 23 00:01:21,000 --> 00:01:23,680 Speaker 1: in that way. According to the Finn Review. The Commission 24 00:01:23,680 --> 00:01:26,920 Speaker 1: also advised the government to lower prices for consumers and 25 00:01:26,959 --> 00:01:30,160 Speaker 1: compliance costs for business by extending cuts to so called 26 00:01:30,240 --> 00:01:33,520 Speaker 1: newsance tariffs on more than three hundred imported goods, including steel, 27 00:01:33,840 --> 00:01:38,440 Speaker 1: appliances and plastics. Story number three to two major fund managers, 28 00:01:38,640 --> 00:01:42,160 Speaker 1: Platinum Asset Management and l One Capital I set to merge, 29 00:01:42,160 --> 00:01:44,600 Speaker 1: creating an investment group with about sixteen and a half 30 00:01:44,640 --> 00:01:48,040 Speaker 1: billion dollars in funds under management. Under the deal, Platinum 31 00:01:48,040 --> 00:01:50,760 Speaker 1: will acquire one hundred percent of the issued share capital 32 00:01:51,120 --> 00:01:54,960 Speaker 1: in l one Capital and l one shareholders get Platinum stock. 33 00:01:55,400 --> 00:01:58,600 Speaker 1: L One Capital shareholders will hold seventy four percent of 34 00:01:58,840 --> 00:02:02,680 Speaker 1: the merged group. Platinum shareholders will hold about twenty six percent. 35 00:02:03,120 --> 00:02:05,880 Speaker 1: Story number four Aldi has done a deal with door Dash, 36 00:02:06,000 --> 00:02:09,360 Speaker 1: launching home delivery for the first time in Australia, escalating 37 00:02:09,360 --> 00:02:13,040 Speaker 1: its fight against woolies and coals. The service commenced in 38 00:02:13,080 --> 00:02:16,440 Speaker 1: Canberra today. It will be rolled out nationally in coming months. 39 00:02:16,639 --> 00:02:20,440 Speaker 1: More than eighteen one hundred products, including fresh produce, meat, seafood, dairy, 40 00:02:20,760 --> 00:02:25,000 Speaker 1: bread and household staples will be available for delivery via 41 00:02:25,080 --> 00:02:29,160 Speaker 1: the platform. The online grocery segment now commands eleven percent 42 00:02:29,440 --> 00:02:33,280 Speaker 1: of the overall market in Australia and story number five. 43 00:02:33,360 --> 00:02:37,360 Speaker 1: President Donald Trump hosted Israeli Prime Minister Benjamin Netanya, who 44 00:02:37,480 --> 00:02:40,680 Speaker 1: at the White House this morning Australian Time, saying the 45 00:02:40,840 --> 00:02:44,680 Speaker 1: US had scheduled talks with Iran and indicated progress on 46 00:02:44,760 --> 00:02:48,840 Speaker 1: efforts to relocate Palestinians out of Gaza. Trump said the 47 00:02:48,919 --> 00:02:51,079 Speaker 1: US and Israel were working with other countries to give 48 00:02:51,120 --> 00:02:54,640 Speaker 1: Palestinians a better future, suggesting that the residents of Gaza 49 00:02:54,680 --> 00:02:57,799 Speaker 1: could move to neighbouring nations. Trump and Netanya, who met 50 00:02:57,800 --> 00:03:01,160 Speaker 1: for several hours in Washington, while Israeli officials continued in 51 00:03:01,240 --> 00:03:04,560 Speaker 1: direct negotiations with Hamas aimed at securing the US Broken 52 00:03:04,600 --> 00:03:09,040 Speaker 1: Guards a ceasefire and hostage release deal. The president also 53 00:03:09,080 --> 00:03:11,680 Speaker 1: announced the US would send more weapons to the Ukraine 54 00:03:11,800 --> 00:03:15,560 Speaker 1: to help that country defend itself against Russia. Meanwhile, Nahu 55 00:03:15,639 --> 00:03:19,000 Speaker 1: told Trump that he had nominated the US President for 56 00:03:19,040 --> 00:03:22,440 Speaker 1: the Noble Peace Prize. That's it for the Afternoon Report 57 00:03:22,480 --> 00:03:24,880 Speaker 1: for Tuesday, the eighth of July twenty twenty five. Make 58 00:03:24,880 --> 00:03:26,480 Speaker 1: sure you hit follow on the podcast. We will be 59 00:03:26,520 --> 00:03:28,919 Speaker 1: back tomorrow morning with the Wednesday edition of the Fast 60 00:03:28,960 --> 00:03:31,960 Speaker 1: five Business News by Fear and Greed. I'm Sean aelma 61 00:03:32,400 --> 00:03:33,080 Speaker 1: Enjoy your reading.