1 00:00:03,680 --> 00:00:06,400 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,680 --> 00:00:09,160 Speaker 1: for Wednesday, the twenty fifth of June twenty twenty five. 3 00:00:09,240 --> 00:00:12,000 Speaker 1: I'm Suan Aylmer. Every afternoon, we've got the five stories 4 00:00:12,039 --> 00:00:13,840 Speaker 1: that happened today that you need to know about. Story 5 00:00:13,920 --> 00:00:16,720 Speaker 1: number one. The SMPA six two hundred finished the day 6 00:00:16,840 --> 00:00:20,080 Speaker 1: flat at eight five hundred and fifty nine points. It 7 00:00:20,160 --> 00:00:23,720 Speaker 1: came as Australian Bureau of Statistics figures show a drop 8 00:00:23,760 --> 00:00:27,280 Speaker 1: in inflation during May. That's good news. The financials did 9 00:00:27,440 --> 00:00:29,880 Speaker 1: best on the market today, with Ane's eden Comwealth Bank 10 00:00:29,960 --> 00:00:32,880 Speaker 1: leading the way. Materials companies did worst, with the big 11 00:00:32,880 --> 00:00:36,800 Speaker 1: miners reversing some of yesterday's gains. Virgin Australia jumped another 12 00:00:36,840 --> 00:00:40,479 Speaker 1: two percent after its eleven cent rise yesterday that was 13 00:00:40,520 --> 00:00:43,680 Speaker 1: its first day of training on the BURS drone shield 14 00:00:43,760 --> 00:00:46,680 Speaker 1: jump more than twenty percent after the defense technology company 15 00:00:47,000 --> 00:00:51,159 Speaker 1: announced a deal with a European group for handheld detection 16 00:00:51,360 --> 00:00:54,440 Speaker 1: and counter drone systems and by now paid. Later company 17 00:00:54,480 --> 00:00:57,200 Speaker 1: Home Group confirmed it had received an offer from the 18 00:00:57,200 --> 00:01:00,960 Speaker 1: family office of chairman Andrew Abercrombie. The company said it 19 00:01:01,000 --> 00:01:03,040 Speaker 1: had received the offer after the close of training on 20 00:01:03,120 --> 00:01:06,080 Speaker 1: June twenty three of fifty eight cents per share from 21 00:01:06,120 --> 00:01:09,679 Speaker 1: the Abercrombie Group. Story number two plenty happening on Wall Street. 22 00:01:09,800 --> 00:01:12,440 Speaker 1: US Federal Reserve chairs your own Pow said he's in 23 00:01:12,480 --> 00:01:15,440 Speaker 1: no rush to lower interest rates as officials wait for 24 00:01:15,480 --> 00:01:19,080 Speaker 1: more clarity on the economic impact of Donald Trump's tariffs. 25 00:01:19,280 --> 00:01:22,000 Speaker 1: That wasn't enough to damp an enthusiasm bad equities, though, 26 00:01:22,440 --> 00:01:25,679 Speaker 1: on the back of the Iran Israel truce, the broad 27 00:01:25,680 --> 00:01:28,200 Speaker 1: based S and P five hundred jumped more than one percent, 28 00:01:28,680 --> 00:01:31,200 Speaker 1: while the tech heavy Nasdaq one hundred climbed another one 29 00:01:31,360 --> 00:01:34,240 Speaker 1: point five percent. In fact, that hit a new record, 30 00:01:34,440 --> 00:01:38,000 Speaker 1: beating its February high. In currency markets, the CPI data 31 00:01:38,040 --> 00:01:40,759 Speaker 1: locally pushed the Aussie dollar back below sixty five US 32 00:01:40,760 --> 00:01:44,120 Speaker 1: cents after it had risen before that announcement, and Oil's 33 00:01:44,160 --> 00:01:46,280 Speaker 1: training around sixty five US dollars a barrel after a 34 00:01:46,360 --> 00:01:49,160 Speaker 1: rollercash to ride during the past couple of days. Story 35 00:01:49,280 --> 00:01:52,480 Speaker 1: number three. Treasurer Jim Chalmers has asked the Australian Competition 36 00:01:52,520 --> 00:01:55,360 Speaker 1: and Consumer Commission to make sure service stations are not 37 00:01:55,480 --> 00:01:58,160 Speaker 1: ripping off drivers at the petrol bowser, or, as Jim 38 00:01:58,200 --> 00:02:00,280 Speaker 1: Chalmers puts, it. He wants to make sure that's service 39 00:02:00,320 --> 00:02:04,320 Speaker 1: stations aren't taking advantage of people amid the current volatility 40 00:02:04,320 --> 00:02:06,640 Speaker 1: in oil prices. As best as I can work out 41 00:02:06,760 --> 00:02:09,560 Speaker 1: what happens in oil prices feeds through to petrol prices 42 00:02:09,560 --> 00:02:13,240 Speaker 1: with a two or three week lag, although it's very 43 00:02:13,240 --> 00:02:15,480 Speaker 1: hard to get your head around this. In Charmer's words 44 00:02:15,560 --> 00:02:17,840 Speaker 1: I quote him, we don't want to see service stations 45 00:02:17,840 --> 00:02:20,079 Speaker 1: treat people like mugs. We want to see the petrol 46 00:02:20,080 --> 00:02:22,760 Speaker 1: prices reflect developments in the market, and so we've asked 47 00:02:22,760 --> 00:02:25,560 Speaker 1: the HABC to use their powers and resources to ensure 48 00:02:25,680 --> 00:02:28,320 Speaker 1: that's the case. Story number four. There are a couple 49 00:02:28,320 --> 00:02:31,480 Speaker 1: of deals in the gaming sector in different stages of completion. 50 00:02:31,919 --> 00:02:35,000 Speaker 1: US Gaming Giant, Bally's Corporation and Bruce Matheson a one 51 00:02:35,000 --> 00:02:38,240 Speaker 1: step closer to gaining control of Star Entertainment. More than 52 00:02:38,320 --> 00:02:41,360 Speaker 1: ninety seven percent of shareholders have approved two items that 53 00:02:41,440 --> 00:02:43,799 Speaker 1: were on the agenda at the company's general meeting, which 54 00:02:43,840 --> 00:02:47,359 Speaker 1: were needed to give Bally's and Matheson majority control of 55 00:02:47,400 --> 00:02:50,360 Speaker 1: the casino operator. The deal was first announced in April 56 00:02:50,800 --> 00:02:53,640 Speaker 1: and is expected to provide the struggling casino group with 57 00:02:53,760 --> 00:02:57,400 Speaker 1: enough money to keep operating chair and Ward told investors 58 00:02:57,400 --> 00:03:00,320 Speaker 1: today there was no other choice but to improve the deal. 59 00:03:01,000 --> 00:03:03,840 Speaker 1: The other deal in gaming is not likely to go ahead. 60 00:03:04,080 --> 00:03:08,760 Speaker 1: Better BTR shares dropped more than ten percent after takeover arrival. 61 00:03:08,760 --> 00:03:12,400 Speaker 1: In Japanese entertainment giant Mixi secured the votes needed to 62 00:03:12,440 --> 00:03:14,919 Speaker 1: acquire points bet. More than ninety five percent of voters 63 00:03:14,960 --> 00:03:17,880 Speaker 1: supported the Mixi offer four points bet. It means that 64 00:03:17,960 --> 00:03:20,200 Speaker 1: Better will not be able to proceed with an off 65 00:03:20,360 --> 00:03:23,600 Speaker 1: market take over bid four points bet Sorry. Number five 66 00:03:23,639 --> 00:03:27,960 Speaker 1: journalist Antoinette Latouf has won her unlawful termination claim against 67 00:03:27,960 --> 00:03:31,400 Speaker 1: the ABC after a judge ruled she was removed for 68 00:03:31,480 --> 00:03:34,800 Speaker 1: her political opinions on the Israel Palestinian conflict was not 69 00:03:34,840 --> 00:03:36,880 Speaker 1: given a fair opportunity to plead her case to the 70 00:03:36,880 --> 00:03:40,560 Speaker 1: public broadcast before it took her off the air. In 71 00:03:40,680 --> 00:03:44,400 Speaker 1: a pack Sydney court room today, Federal Court Judge Darryl 72 00:03:44,480 --> 00:03:48,280 Speaker 1: Rangiam said the ABC had breached employment law by terminating 73 00:03:48,320 --> 00:03:51,760 Speaker 1: the employment of Antoinette Lauteuf for reasons including that she 74 00:03:51,840 --> 00:03:55,600 Speaker 1: held a political opinion opposing the Israeli military campaign in Gaza. 75 00:03:55,920 --> 00:03:59,320 Speaker 1: Renga ordered the ABC to pay Latouf seventy thousand dollars 76 00:03:59,360 --> 00:04:02,640 Speaker 1: in compensation and according to the AFR, another hearing date 77 00:04:02,680 --> 00:04:05,120 Speaker 1: will be set for a penalty to deter the ABC 78 00:04:05,440 --> 00:04:08,600 Speaker 1: or other employers from similar actions. That's it for the 79 00:04:08,600 --> 00:04:11,160 Speaker 1: afternoon report for Wednesday, the twenty fifth of June twenty 80 00:04:11,200 --> 00:04:13,160 Speaker 1: twenty five. Make sure you hit follow on the podcast. 81 00:04:13,400 --> 00:04:15,520 Speaker 1: We will be back tomorrow morning with the Thursday edition 82 00:04:15,560 --> 00:04:18,080 Speaker 1: of Fear and Greed Business Uns. I'm Sean Elma. Enjoy 83 00:04:18,120 --> 00:04:18,560 Speaker 1: your evening.