1 00:00:03,640 --> 00:00:06,800 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Friday, 2 00:00:06,920 --> 00:00:09,879 Speaker 1: y Twortho's December twenty twenty five. I'm sure n alma. 3 00:00:09,920 --> 00:00:12,360 Speaker 1: Every afternoon we bring you the five big stories that 4 00:00:12,440 --> 00:00:14,480 Speaker 1: happened today that you need to know about. Storing Number one, 5 00:00:14,520 --> 00:00:17,360 Speaker 1: the SMPA SX two hundred closed up one point two 6 00:00:17,360 --> 00:00:20,160 Speaker 1: percent today to eighty six hundred and ninety seven points, 7 00:00:20,440 --> 00:00:23,040 Speaker 1: taking the total game for the week to zero point 8 00:00:23,079 --> 00:00:26,600 Speaker 1: seven percent. The prospect of further rate cuts buoyed Wall Street. 9 00:00:26,840 --> 00:00:29,760 Speaker 1: More on that shortly, and the miners did best today. 10 00:00:29,800 --> 00:00:32,600 Speaker 1: On the local market, gold stocks did well. The major 11 00:00:32,640 --> 00:00:35,600 Speaker 1: banks all rose between one and two percent. CSL and 12 00:00:35,640 --> 00:00:39,200 Speaker 1: Macquo Group two of the worst performing large caps over 13 00:00:39,240 --> 00:00:42,120 Speaker 1: twenty twenty five, we're among the best today. The laggards 14 00:00:42,159 --> 00:00:45,680 Speaker 1: today included West Farmers, Telstra, and Woodside. Story number two, 15 00:00:45,720 --> 00:00:48,440 Speaker 1: Wall Street set a bunch of records overnight, with the 16 00:00:48,479 --> 00:00:52,040 Speaker 1: broad based SMP five hundred, the Dow Jones Industrial Average, 17 00:00:52,040 --> 00:00:54,680 Speaker 1: which measures the top thirty stocks, and the small cap 18 00:00:54,680 --> 00:00:59,120 Speaker 1: index the Russell two thousand, all logging record highs. Commodities 19 00:00:59,160 --> 00:01:02,160 Speaker 1: are also performing, with gold hire once again, while both 20 00:01:02,200 --> 00:01:05,760 Speaker 1: copper and silver hit records over the past twenty four hours. 21 00:01:05,959 --> 00:01:09,560 Speaker 1: In the tech space, open Ai unveiled chat GPT five 22 00:01:09,600 --> 00:01:13,000 Speaker 1: point two, putting pressure on Alphabet's Gemini product. Cisco's share 23 00:01:13,000 --> 00:01:16,039 Speaker 1: price hit a twenty five year record as AI spending 24 00:01:16,080 --> 00:01:20,080 Speaker 1: fuels renewed optimism in legacy tech, and Disney announced a 25 00:01:20,120 --> 00:01:23,320 Speaker 1: multi billion dollar investment in open Ai plenty Going on 26 00:01:23,760 --> 00:01:26,840 Speaker 1: story number three, Prime Minister Anthony Albernezi says one thousand 27 00:01:26,959 --> 00:01:31,280 Speaker 1: jobs have been saved at Australia's biggest aluminium smelter after 28 00:01:31,319 --> 00:01:33,880 Speaker 1: announcing a deal to keep the plant operating beyond twenty 29 00:01:33,880 --> 00:01:37,320 Speaker 1: twenty eight. Rio Tinto, the owner of the Tomago smelter, 30 00:01:37,720 --> 00:01:40,319 Speaker 1: had warned of imminent closure due to a doubling of 31 00:01:40,440 --> 00:01:43,399 Speaker 1: energy costs when the current electricity contract expires in a 32 00:01:43,400 --> 00:01:45,880 Speaker 1: couple of years, but the Commonwealth Government has led a 33 00:01:45,920 --> 00:01:48,840 Speaker 1: deal which will provide the smelter with billions of dollars 34 00:01:48,880 --> 00:01:52,600 Speaker 1: in subsidized power from the Snowy Hydro Project and other 35 00:01:52,720 --> 00:01:56,560 Speaker 1: renewable sources or firmed by gas to Margo produces more 36 00:01:56,560 --> 00:01:59,640 Speaker 1: than one third of Australia's aluminium and accounts for about 37 00:01:59,640 --> 00:02:04,080 Speaker 1: twelve percent of New South Wales's energy consumption. Story number four. 38 00:02:04,120 --> 00:02:06,720 Speaker 1: Reddit has filed a High Court challenge to Australia's world 39 00:02:06,720 --> 00:02:09,840 Speaker 1: first laws lifting the minimum age to use social media 40 00:02:09,880 --> 00:02:13,240 Speaker 1: to sixteen years. Reddit argues that the ban infringes the 41 00:02:13,240 --> 00:02:18,760 Speaker 1: Australian constitutions implied right to freedom of political communication. In 42 00:02:18,840 --> 00:02:22,359 Speaker 1: court filings, Reddit argued that choices made by citizens will 43 00:02:22,400 --> 00:02:26,120 Speaker 1: be informed by political communication in which they engage prior 44 00:02:26,520 --> 00:02:28,960 Speaker 1: to the age of eighteen. Now, the band took effect 45 00:02:29,000 --> 00:02:32,040 Speaker 1: on Wednesday, and rather than celebrating the social reform, the 46 00:02:32,080 --> 00:02:35,760 Speaker 1: government's been mired in the political expenses scandal on that issue. 47 00:02:35,800 --> 00:02:38,360 Speaker 1: The Prime Minister today said that he had asked the 48 00:02:38,400 --> 00:02:41,600 Speaker 1: Independent watchdog for advice on the issue. Also today, the 49 00:02:41,639 --> 00:02:44,520 Speaker 1: state and territory health ministers rejected the federal government's offer 50 00:02:44,919 --> 00:02:48,519 Speaker 1: of twenty three billion dollars in extra hospital funding. Story 51 00:02:48,680 --> 00:02:52,120 Speaker 1: number five. Australia will allow South Korea's top defense company, 52 00:02:52,560 --> 00:02:57,239 Speaker 1: Henoi Eerospace, to increase its stake in shipbuilder Ostill Limited 53 00:02:57,280 --> 00:02:59,919 Speaker 1: to nine zene point nine percent after treasure Jim Chalmers 54 00:03:00,040 --> 00:03:03,120 Speaker 1: signed off on a recommendation from the Foreign Investment Review Board. 55 00:03:03,480 --> 00:03:07,200 Speaker 1: The decision ensures that there are protections for Australia's strategic 56 00:03:07,240 --> 00:03:11,480 Speaker 1: shipbuilder and the government's sovereign interest in Ostel. Chalmers said 57 00:03:11,680 --> 00:03:13,840 Speaker 1: if the proposal goes ahead, it would be subject to 58 00:03:13,840 --> 00:03:16,640 Speaker 1: a number of strict conditions relating to governance, including limits 59 00:03:16,639 --> 00:03:20,320 Speaker 1: on Hanwa's access to and the storage of sensitive information. 60 00:03:20,760 --> 00:03:24,000 Speaker 1: Ostill earns about eighty percent of its revenue from the US. 61 00:03:24,040 --> 00:03:27,800 Speaker 1: According to Bloomberg, those operations could prove advantageous for Hanwha, 62 00:03:28,160 --> 00:03:30,839 Speaker 1: which is keen to strengthen strategic partnerships in the US 63 00:03:30,880 --> 00:03:33,800 Speaker 1: and elsewhere amid a boom in the global defense and 64 00:03:33,800 --> 00:03:37,320 Speaker 1: shipbuilding industries. That's It's the afternoon Report for Friday, eighty 65 00:03:37,320 --> 00:03:39,520 Speaker 1: twelfth of December twenty twenty five. I hope you all 66 00:03:39,560 --> 00:03:41,640 Speaker 1: have a great weekend. Make sure you follow on the 67 00:03:41,680 --> 00:03:44,400 Speaker 1: podcast and head along to feargreen dot com Today you 68 00:03:44,440 --> 00:03:47,200 Speaker 1: to sign up for our free daily newsletter. I'm Suanaolma. 69 00:03:47,520 --> 00:03:48,200 Speaker 1: Enjoy your evening.