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

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Speaker 1: for Tuesday, the second of September twenty twenty five. Michael Thompson.

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Speaker 1: Every afternoon, we've got the five stories that happened today

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Speaker 1: that you need to know about. Let's go with story

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Speaker 1: number one. It is all about markets. The S and

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Speaker 1: p ASX two hundred closed zero point three percent lower

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Speaker 1: today to eighty nine hundred and one points. It did

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Speaker 1: spend a bit of time below the eighty nine hundred

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Speaker 1: mark before recovering a bit. A number of big companies

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Speaker 1: today went ex dividend, which means if you held the

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Speaker 1: stock before today, you received the dividend that was announced

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Speaker 1: during the August reporting season. If you held it after

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Speaker 1: that point, you don't get it. And Wes Farmers, will

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Speaker 1: Worth Spend, Ago, Bank, Santos all dipped for that reason.

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Speaker 1: The banks had a pretty good day. NAB was up

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Speaker 1: almost two percent, Commonwealth Bank and Westpac both up around

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Speaker 1: the one and a half percent mark. Collins Foods, which

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Speaker 1: operates KFC in Australia, jumped eight point three percent today

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Speaker 1: after it reported a very strong lift in sales soar

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Speaker 1: this financial year. Clearly, consumers are feeling pretty good and

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Speaker 1: are happy to spend. That's reflected in the A and

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Speaker 1: zed Roy Morgan Index today that showed consumer confidence is

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Speaker 1: indeed climbing. Story number two, Gold has smashed through a

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Speaker 1: fresh record, hitting three thousand, five hundred and eight US

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Speaker 1: dollars an ounce, before easing back to under three thousand,

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Speaker 1: five hundred this afternoon. Analysts say that the surge reflects

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Speaker 1: a weaker US dollar and strong demand from central banks

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Speaker 1: and institutions who are shifting out of US treasuries amid

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Speaker 1: concerns over debts, ratings, downgrades and really a lot of

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Speaker 1: geopolitical risk at the moment. In fact, central banks now

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Speaker 1: hold more gold than treasuries. Interesting to note, silver has

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Speaker 1: also jumped to its highest level now since twenty eleven.

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Speaker 1: Story number three. Australia's current account deficit ticked up to

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Speaker 1: thirteen point seven billion dollars in the June quarter, meaning

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Speaker 1: that nation is spending more on imports than it's earning

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Speaker 1: from exports in the most simple terms imaginable. The ABS

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Speaker 1: says investment inflows helped narrow the income gap, but weaker

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Speaker 1: commodity exports and a surge in gold imports and overseas

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Speaker 1: travel dragged the trade surplus. Lower exports fell nearly one percent,

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Speaker 1: led by iron ore and coal, while services exports jumped

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Speaker 1: almost four percent, largely thanks to more New Zealanders flying in.

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Speaker 1: The Terms of trade slipped again as commodity price is weakened,

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Speaker 1: underscoring really how Australia's trade position is being squeezed even

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Speaker 1: as travel demand remained strong. Story number four. Australia's aviation

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Speaker 1: regulator has rejected claims from a new airline that the

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Speaker 1: startup is already equipped with the license that it needs

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Speaker 1: to fly. Lea little bit of context to this one.

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Speaker 1: Koala Airlines is the latest airline to attempt to take

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Speaker 1: on Quantus and Virgin Australia. Others like Bonza and Rex

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Speaker 1: have tried and they have failed. The founder of Koala

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Speaker 1: Airlines is a fellow by the name of Bill Astling,

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Speaker 1: and he perched just another business called Desert Air Safari

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Speaker 1: back in twenty nineteen, and he said that he inherited

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Speaker 1: an air operator's certificate through that purchase. But KASSA, which

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Speaker 1: is the aviation regulator, says that that particular certificate is

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Speaker 1: subject to a direction not to operate and doesn't cover

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Speaker 1: Koala's plans to run large Boeing seven three seven jets.

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Speaker 1: That means that Koala now has to go through the

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Speaker 1: full approval process before launching, which is the same hurdle

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Speaker 1: that delayed Bonzo by nine months. Asling has said that

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Speaker 1: he wants to avoid the mistakes that bonds are made

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Speaker 1: and that Rex made, but it is clearly going to

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Speaker 1: be a long time before we see another major airline

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Speaker 1: flying between Australian capital cities. Finally, story number five, another

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Speaker 1: plane related story. The European Commissioned President Ursula Vondalaian has

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Speaker 1: become the target of suspected Russian GPS jamming while flying

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Speaker 1: into Bulgaria. Reports say that the navigation system on her

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Speaker 1: plane knocked out mid flight, forcing the crew to switch

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Speaker 1: to old school paper maps in order to land safely.

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Speaker 1: EU officials confirmed the interference and say Bulgarian authorities suspect

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Speaker 1: Russia was behind it. Vondalayan is a fierce critic of

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Speaker 1: Russian President Vladimir Putin. She didn't mince words during her

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Speaker 1: visit to the Polish border, calling the Russian leader a

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Speaker 1: predator who must be kept in check. The timing of

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Speaker 1: the jamming is certainly raising eyebrows, happening just as she

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Speaker 1: tours countries on the EU's eastern flank, underscoring what Brussels

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Speaker 1: calls the everyday challenges posed by Russia's aggression. That's it

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Speaker 1: for the afternoon Report for Tuesday, the second of September

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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 Wednesday

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Speaker 1: edition of Fair and Breed. I'm Ok Thompson. Enjoyery