1 00:00:03,600 --> 00:00:06,200 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,240 --> 00:00:08,680 Speaker 1: for Monday, the twenty fourth of February twenty twenty five. 3 00:00:08,720 --> 00:00:11,799 Speaker 1: I'm suan Alma. Every afternoon, We've got the fire stories 4 00:00:11,800 --> 00:00:13,600 Speaker 1: that happened today that you need to know about. Stro 5 00:00:13,600 --> 00:00:16,320 Speaker 1: At number one, the SMPA six two hundred close up 6 00:00:16,440 --> 00:00:18,720 Speaker 1: just to touch today to eight thousand, three hundred and 7 00:00:18,760 --> 00:00:22,759 Speaker 1: eight points, having fallen early in the day, then clambered 8 00:00:22,800 --> 00:00:25,479 Speaker 1: back for the rest of the session. The Tech index 9 00:00:25,560 --> 00:00:28,120 Speaker 1: tumbled on the back of a Wise Tech Global announcement 10 00:00:28,280 --> 00:00:32,320 Speaker 1: for independent directors of that company resigned this morning following 11 00:00:32,400 --> 00:00:35,199 Speaker 1: intractable differences in the board and differing views around the 12 00:00:35,240 --> 00:00:38,239 Speaker 1: ongoing role of the founder and CEO, or at least 13 00:00:38,280 --> 00:00:42,159 Speaker 1: former CEO, Richard White. It's share price tumbled at twenty percent. Otherwise, 14 00:00:42,240 --> 00:00:45,920 Speaker 1: utilities did best today, although the big banks bounced after 15 00:00:45,960 --> 00:00:49,479 Speaker 1: a tough week last week. Commonwealth Bank, National Australia Bank 16 00:00:49,479 --> 00:00:51,680 Speaker 1: and AMS that all jumped more than two percent today. 17 00:00:51,720 --> 00:00:54,960 Speaker 1: The big mine is underperformed, while the retailers were also higher. 18 00:00:55,240 --> 00:00:59,400 Speaker 1: Storryt number two fast fashion jewelry chain Levisa announced to 19 00:00:59,480 --> 00:01:02,200 Speaker 1: jump inside sales and earnings for the December half, but 20 00:01:02,320 --> 00:01:06,000 Speaker 1: the result was under expectations. What I thought was pretty interesting. 21 00:01:06,640 --> 00:01:09,720 Speaker 1: The company now operates nine hundred and forty three stores 22 00:01:09,760 --> 00:01:13,040 Speaker 1: in forty nine markets, and during the last six months 23 00:01:13,360 --> 00:01:17,440 Speaker 1: opened stores in Cope, Devau, the Old Ivory Coast, the 24 00:01:17,440 --> 00:01:21,479 Speaker 1: Republic of Congo, and Panama. Its share price closed down 25 00:01:21,560 --> 00:01:26,120 Speaker 1: four percent today. Gas pipeline Giant IPA also reported it 26 00:01:26,160 --> 00:01:29,080 Speaker 1: will expand its East Coast gas grid to allow for 27 00:01:29,120 --> 00:01:31,640 Speaker 1: a twenty four percent increase in the volume of gas 28 00:01:31,680 --> 00:01:35,880 Speaker 1: piped south from Queensland, amid a worsening squeeze of gas 29 00:01:35,880 --> 00:01:38,800 Speaker 1: in Victoria that threatens to make the state reliant on 30 00:01:38,920 --> 00:01:42,200 Speaker 1: LNG imports. APA reported a jump in revenue and underlying 31 00:01:42,240 --> 00:01:45,200 Speaker 1: profit for the December half. Its share price rose eight percent. 32 00:01:45,640 --> 00:01:48,160 Speaker 1: Straight number three We're going to stick with earnings. NIB 33 00:01:48,360 --> 00:01:51,440 Speaker 1: Holdings posted a full and first half profit, but its 34 00:01:51,440 --> 00:01:54,760 Speaker 1: share price surge twelve percent was a better result than expected. 35 00:01:55,000 --> 00:01:57,640 Speaker 1: Software Group IRS fell fourteen percent, even though it made 36 00:01:57,640 --> 00:02:00,800 Speaker 1: a profit last year. Plumbing Group Recent, a long time 37 00:02:00,920 --> 00:02:06,760 Speaker 1: favorite of investment analysts, tumbled thirteen percent after its profit disappointed. 38 00:02:07,080 --> 00:02:09,720 Speaker 1: It's one of those companies at price to perfection. Any 39 00:02:09,720 --> 00:02:12,480 Speaker 1: disappointment sends its share price tumbling. That's what happened today, 40 00:02:12,800 --> 00:02:15,520 Speaker 1: a new extrap to eight percent after the company increased 41 00:02:15,520 --> 00:02:19,200 Speaker 1: its half year losses. Finally, Domain held onto its forty 42 00:02:19,200 --> 00:02:22,160 Speaker 1: percent gains from last Friday. Now Channel nine or nine 43 00:02:22,240 --> 00:02:25,840 Speaker 1: Entertainment reports tomorrow it's a sixty percent shareholder of Domain. 44 00:02:26,240 --> 00:02:29,240 Speaker 1: Of course it's under takeover offer. Me interesting to see 45 00:02:29,280 --> 00:02:32,560 Speaker 1: what nine has to say tomorrow. Austraight Number four, Australia's 46 00:02:32,600 --> 00:02:36,840 Speaker 1: biggest data center company, next DC, has announced larger losses 47 00:02:36,880 --> 00:02:41,240 Speaker 1: than previously but will reward its executives with big, big 48 00:02:41,440 --> 00:02:46,160 Speaker 1: options packages. Next DC has seventeen data centers across Australia 49 00:02:46,200 --> 00:02:49,400 Speaker 1: and New Zealand. Today they announced a one off incentive 50 00:02:49,440 --> 00:02:53,239 Speaker 1: package trying to keep talent. There's plenty of demand for 51 00:02:53,320 --> 00:02:58,480 Speaker 1: executives in the digital infrastructure sector Amazon, Google, Microsoft, air Trunk. 52 00:02:58,960 --> 00:03:03,160 Speaker 1: That's who next DC is competing with. Chief executive Craig 53 00:03:03,400 --> 00:03:06,880 Speaker 1: Scrogi will receive fifty million dollars in stock if the 54 00:03:06,919 --> 00:03:10,240 Speaker 1: share price increases one hundred and twenty four percent by 55 00:03:10,280 --> 00:03:12,880 Speaker 1: twenty thirty. Gets paid about four million bucks a year. 56 00:03:13,400 --> 00:03:16,640 Speaker 1: We'll get fifty million in stocks if they can actually 57 00:03:16,760 --> 00:03:19,280 Speaker 1: reach that increase. There's also one hundred million dollars to 58 00:03:19,360 --> 00:03:22,959 Speaker 1: senior execs and managers if the company hits that target overall. 59 00:03:23,040 --> 00:03:26,400 Speaker 1: Next to DC increased its losses last six months that 60 00:03:26,520 --> 00:03:29,120 Speaker 1: reflected a write off link to a debt. Its share 61 00:03:29,160 --> 00:03:33,440 Speaker 1: price closed down three percent, And story number five car 62 00:03:33,480 --> 00:03:37,240 Speaker 1: makers making a fresh push into hybrids and upgraded petrol 63 00:03:37,280 --> 00:03:40,760 Speaker 1: engine cars as manufacturers look to sure up profits amid 64 00:03:40,840 --> 00:03:44,880 Speaker 1: the costly weight for evs to become mainstream. General Madis, 65 00:03:44,960 --> 00:03:48,120 Speaker 1: Porsche BMW, and Mercedes Bends have pledged over the past 66 00:03:48,240 --> 00:03:51,880 Speaker 1: few weeks to invest in new or upgraded internal combustion 67 00:03:52,040 --> 00:03:55,400 Speaker 1: engine or hybrid models, even as they increase the roll 68 00:03:55,400 --> 00:03:57,880 Speaker 1: out of electric cars to meet tougher emissions regulations in 69 00:03:57,920 --> 00:04:01,880 Speaker 1: Europe and elsewhere. Globally, new model launches of internal combustion 70 00:04:01,960 --> 00:04:04,600 Speaker 1: engine and hybrid vehicles are expected to rise nine percent 71 00:04:05,120 --> 00:04:07,880 Speaker 1: this year compared to twenty twenty four, according to S 72 00:04:07,920 --> 00:04:11,720 Speaker 1: and P Global Mobility. Carmakers are expected to introduce two 73 00:04:11,840 --> 00:04:14,680 Speaker 1: hundred and five petrol models this year, which is actually 74 00:04:14,680 --> 00:04:17,440 Speaker 1: down a touch from last year, while hybrid launchers are 75 00:04:17,440 --> 00:04:20,920 Speaker 1: predicted to rise forty three percent to one hundred and 76 00:04:20,920 --> 00:04:24,640 Speaker 1: sixteen models. According to report in the Financial Times. That's 77 00:04:24,680 --> 00:04:27,200 Speaker 1: it the afternoon report for Monday, the twenty fourth February 78 00:04:27,200 --> 00:04:29,600 Speaker 1: twenty twenty five. Make sure you hit follow on the podcast. 79 00:04:29,920 --> 00:04:31,960 Speaker 1: We will be back tomorrow morning with a Tuesday edition 80 00:04:32,000 --> 00:04:34,960 Speaker 1: of Fear and Greed Business News. I'm Chanel Monk. Enjoy 81 00:04:35,000 --> 00:04:35,480 Speaker 1: your evening.