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

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Speaker 1: for Friday, the seventh of February twenty twenty five. I'm

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Speaker 1: Sean A. Elmer. Every afternoon, we've got the five stories

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Speaker 1: that happened today that you need to know about. Strotum

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Speaker 1: on the SMPASX two hundred closed down just to touch

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Speaker 1: today zero point one percent to eighty five hundred and

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Speaker 1: eleven points. It was a bit of a mixed day.

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Speaker 1: The big banks were higher, so to the big miners,

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Speaker 1: but CSL, Macquarie, West Farmers, and Aristocrat Leisure were all lower.

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Speaker 1: After all the Donald Trump related headlines, it seemed like

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Speaker 1: quiet session today. Dominos was the best performer after the

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Speaker 1: group said it will cut two hundred stores globally, including

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Speaker 1: one hundred and seventy two in loss making Japan. It's

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Speaker 1: share price jump twenty one percent. Collins Foods, owner of KFC,

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Speaker 1: also did well, rising more than twelve percent. Energy and

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Speaker 1: healthcare stocks were among the worst performers. Transurban and Telstra

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Speaker 1: were also lower. Story at number two, the federal government

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Speaker 1: will commit eight hundred and forty two million dollars over

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Speaker 1: sixty years to strengthen the delivery of services in remote

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Speaker 1: communities in the Northern Territory, including policing, women's safety, alcohol

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Speaker 1: harm reduction and mediation and peacekeeping activities. The announcement came

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Speaker 1: after the Prime Minister arrived in Alice Springs last night

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Speaker 1: and just over a week after Peter Dutton visited the region.

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Speaker 1: Alice has been hit by crime, domestic violence and anti

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Speaker 1: social behavior. The Albansian Northern Territory governments have signed an

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Speaker 1: agreement to deliver the NT Remote Aboriginal Investment, a commitment

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Speaker 1: designed to offer certainty on more than five hundred and

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Speaker 1: seventy jobs and ensure remote First Nations communities can access

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Speaker 1: services needed to close the gap. The agreement will increase

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Speaker 1: funding for Aboriginal interpreter services and deliver new funding for

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Speaker 1: community development, mediation and peacekeeping activities. Sorry Number three Nick

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Speaker 1: Scarally reported today and Boss Anthony Scarley was very upbeat

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Speaker 1: about the retailer's push into the United Kingdom, saying its

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Speaker 1: sofas and Swivill armchairs are being bought up by English shoppers.

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Speaker 1: The company posted a small loss for the December six months,

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Speaker 1: but investors liked what they heard. Its share price jumped

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Speaker 1: twelve percent today Scarly's is one of the first consumer

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Speaker 1: discretionary stocks to report. Now. Consumer discretionary stocks have done

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Speaker 1: really well on the ASX this year, and anticipation of

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Speaker 1: strong earnings I think Scarley did not disappoint today. However,

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Speaker 1: Anthony Scarley warned that demand for big ticket furniture items

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Speaker 1: in Australia and New Zealand fell in January. He said

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Speaker 1: trading was very volatile week to week. Story number four.

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Speaker 1: Woodside Energy's boss Mego O'Neil has come out swinging against

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Speaker 1: the Victorian and federal government, saying it is too late

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Speaker 1: to avoid an economically damaging gas shortfall in Victoria. She

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Speaker 1: blamed a decade of political opposition to the fossil fuel industry.

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Speaker 1: O'Neill believes it is too late to avert a short

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Speaker 1: fall as developers such as Woodside remain wary of Victoria's

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Speaker 1: skeptical attitude towards the fuel source. I quote pology has

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Speaker 1: stood in the way of sensible energy investment. In times

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Speaker 1: of crisis, things can move quickly. We'd like them to

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Speaker 1: move before you get a crisis. The comments underscore the

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Speaker 1: expectation that Victoria, Australia's most gas dependent state, will be

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Speaker 1: forced to import LNG in a move that could in

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Speaker 1: the short term add to price pressures, According to a

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Speaker 1: report in The Australian Today and Story number five. Amazon

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Speaker 1: last night ward investors that it could face capacity constraints

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Speaker 1: in its cloud computing division, despite plans to invest some

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Speaker 1: one hundred billion US dollars this year, most of the

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Speaker 1: money going towards data centers, homegrown chips, and other equipment

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Speaker 1: to provide AI services. Chief Executive Officer Andy Jasse wants

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Speaker 1: Amazon to become an AI supmarket and is spending big

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Speaker 1: to retain the company's aging cloud computing services, but he

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Speaker 1: warned growth will be lumpy and hinted at Amazon could

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Speaker 1: face capacity issues related to delays in getting hardware and

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Speaker 1: not having sufficient electricity. According to a report on Bloomberg,

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Speaker 1: The concerns echoed as a rival Microsoft Corp, Which last

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Speaker 1: week said its cloud sales growth was hurt because it

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Speaker 1: didn't have enough data centers to handle demand for its

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Speaker 1: AI products. That's it the Afternoon Report for Friday, the

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Speaker 1: seventh of February twenty twenty five. Make sure you hit

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Speaker 1: follow on the podcast. We will be back tomorrow morning

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Speaker 1: with the weekend edition of the Fast five business news

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Speaker 1: I Fear and Greed. I'm Seane Elmer. Enjoy your evening.