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

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Speaker 1: for Thursday, the fifteenth of May twenty twenty five, Am

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Speaker 1: Michael Thompson. Every afternoon, we've got the five stories that

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Speaker 1: happen today that you need to know about. Let's get

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Speaker 1: cracking with story number one. The S and p ASX

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Speaker 1: two hundred rows zero point two percent today to eighty

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Speaker 1: two hundred and ninety eight points. That is its seventh

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Speaker 1: straight day of gains. Technology stocks led the way, with

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Speaker 1: Wistech Global up nearly two percent and accounting software Group

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Speaker 1: Zero climbing nearly five percent after reporting a thirty percent

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Speaker 1: jump in full year profit. Commonwealth Bank, how about this

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Speaker 1: set another record it shares, closing up one point three

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Speaker 1: percent to a new high of one hundred and sixty

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Speaker 1: nine dollars and seventy four cents. At the other end,

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Speaker 1: Treasury Wine Estates owners of Penfolds fell more than five

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Speaker 1: percent after announcing CEO Tim Ford is stepping down later

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Speaker 1: this year after five years in the top job. He'll

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Speaker 1: be replaced by Sam Fisher, well known in the INDUS

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Speaker 1: as the Boss of Lion. Meanwhile, a surprise jump in

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Speaker 1: the number of jobs last month hasn't been enough to

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Speaker 1: dampen expectations of an interest rate cut next week. Employment

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Speaker 1: surged by eighty nine thousand in April that was well

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Speaker 1: above expectations, though the unemployment rate remains steady at four

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Speaker 1: point one percent onto Story number two. Grain Corp shares

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Speaker 1: sword today after posting some good results for its agriculture

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Speaker 1: businesses now. Grain Corp is an agribusiness that handles trading,

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Speaker 1: storage and processing for commodities like wheat, barley and canola.

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Speaker 1: These are obviously important crops for Australia. They are exported

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Speaker 1: all over the world, and Grain Corp is essentially the

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Speaker 1: connection between ten thousand regional grain growers and their worldwide customers.

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Speaker 1: Graincourp put out its first half results, lifting earnings forecast

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Speaker 1: based on a strong East Coast harvest and good summer

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Speaker 1: rains in Queensland and New South Wales. Investors like the

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Speaker 1: update and the shares lifted more than eight percent. Story

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Speaker 1: number three Senator Larissa Waters has been elected the new

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Speaker 1: leader of the Greens after longtime leader Adam Bant lost

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Speaker 1: his seat of Melbourne in the recent federal election. Senator

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Speaker 1: Marine Feruki will be her deputy. Adam Bant led the

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Speaker 1: party for five years until his somewhat unexpected defeat to

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Speaker 1: a Labor opponent in the seat. The party lost three

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Speaker 1: Lower House seats, leaving only one Green's MP in the

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Speaker 1: House of Reps, Elizabeth Watson Brown, who holds the Brisbane

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Speaker 1: seat of Ryan, But there are eleven senators representing the

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Speaker 1: party in the Upper House, where the Greens will still

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Speaker 1: hold a lot of power. Story number four. Oil prices

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Speaker 1: have dropped after reports Iran may be willing to abandon

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Speaker 1: nuclear weapons in return for sanctions relief from the US.

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Speaker 1: Brent krude slips below sixty five US dollars a barrel,

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Speaker 1: extending yesterday's drop. NBC and Bloomberg are reporting that Iran

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Speaker 1: is open to a deal under certain conditions, raising hopes

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Speaker 1: of a diplomatic breakthrough that could eventually lead to more

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Speaker 1: Iranian oil flowing back into global markets. That has added

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Speaker 1: pressure on prices, which were already falling after US government

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Speaker 1: has showed a surge in crude stockpiles, the biggest increase

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Speaker 1: since March. And finally, story number five, US President Donald

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Speaker 1: Trump has met with the leader of Qatar on the

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Speaker 1: second stop of his Middle East tour, signing agreements that

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Speaker 1: the White House claim would quote generate an economic exchange

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Speaker 1: worth at least one point two trillion dollars. That comes

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Speaker 1: further down the track. These deals themselves are worth more

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Speaker 1: like two one hundred and forty four billion US dollars.

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Speaker 1: It didn't include the plan for Qatar to donate a

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Speaker 1: Luxury seven four seven for the President to use as

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Speaker 1: the new Air Force one. But while we're on the

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Speaker 1: topic of aircraft, the White House did announce that Qatar

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Speaker 1: Airways had signed a ninety six billion US dollar plan

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Speaker 1: to buy as many as two hundred and ten Boeing aircraft.

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Speaker 1: Agreements were also signed on defense, mostly around drone technology.

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Speaker 1: Next up for the President is a visit to the

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Speaker 1: United Arab Emirates, where talks will focus on the goal

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Speaker 1: of the UAE to become a semiconductor powerhouse. That's it

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Speaker 1: for the Afternoon Report for Thursday, the fifteenth of May

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Speaker 1: twenty twenty five. Make sure you hit follow on the

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Speaker 1: podcast and we'll be back tomorrow morning with the Friday

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Speaker 1: edition of the Fast five Business News by Fear and Greed.

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Speaker 1: I'm Michael Thompson. Enjoy your evening,