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

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Speaker 1: for Thursday, the fifteenth of May twenty twenty five.

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Speaker 2: I'm Michael Thompson.

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Speaker 1: Every afternoon, We've got the five stories that happen today

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Speaker 1: that you need to know about.

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Speaker 2: Let's get cracking with story number one.

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Speaker 1: The S and p ASX two hundred rows zero point

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Speaker 1: two percent today to eighty two hundred and ninety eight points.

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Speaker 2: That is its seventh straight day of gains. Technology stocks

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Speaker 2: led the way, with Wistech Global up nearly two percent

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Speaker 2: and accounting software Group Zero climbing nearly five percent after

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Speaker 2: reporting a thirty percent jump in full year profit. Comonwealth

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Speaker 2: Bank how At this set another record it shares, closing

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Speaker 2: up one point three percent to a new high of

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Speaker 2: one hundred and sixty nine dollars and seventy four cents.

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Speaker 2: At the other end, Treasury Wine Estates owners of Penfolds

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Speaker 2: fell more than five percent after announcing CEO Tim Ford

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Speaker 2: is stepping down later this year after five years in

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Speaker 2: the top job. He'll be replaced by Sam Fisher, well

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Speaker 2: known in the industry as the Boss of Lion. Meanwhile,

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Speaker 2: a surprise jump in the number of jobs last month

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Speaker 2: hasn't been enough to dampen expectations of an interest rate

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Speaker 2: cut next week. Employment surged by eighty nine thousand in

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Speaker 2: April that was well above expectations, though the unemployment rate

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Speaker 2: remains steady at four point one percent onto Story number two.

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Speaker 2: Grain Corp shares sword today after posting some good results

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Speaker 2: for its agriculture businesses now. Graincrp is an agribusiness that

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Speaker 2: handles trading, storage and processing for commodities like wheat, balley

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Speaker 2: and canola. These are obviously important crops for Australia. They

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Speaker 2: are exported all over the world, and Grain Corp is

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Speaker 2: essentially the connection between ten thousand regional grain growers and

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Speaker 2: their worldwide customers. Graincourp put out its first half results,

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Speaker 2: lifting earnings forecast based on a strong East Coast harvest

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Speaker 2: and good summer rains in Queensland and New South Wales.

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Speaker 2: Investors like the update and the shares lifted more than

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Speaker 2: eight percent. Story number three Senator Larissa Waters has been

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Speaker 2: elected the new leader of the Greens after long time

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Speaker 2: leader Adam Bant lost his seat of Melbourne in the

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Speaker 2: recent federal election. Senator Marine Feruki will be her deputy.

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Speaker 2: Adam Bant led the party for five years until his

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Speaker 2: somewhat unexpected defeat to a Labor opponent in the seat.

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Speaker 2: The party lost three Lower House seats, leaving only one

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Speaker 2: Green's MP in the House of Reps, Elizabeth Watson Brown,

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Speaker 2: who holds the Brisbane seat of Ryan, But there are

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Speaker 2: eleven senators representing the party in the Upper House, where

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Speaker 2: the Greens will still hold a lot of power. Story

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Speaker 2: number four. Oil prices have dropped after reports Iran may

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Speaker 2: be willing to abandon nuclear weapons in return for sanctions

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Speaker 2: relief from the US. Brent krude slipped below sixty five

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Speaker 2: US dollars a barrel, extending yesterday's drop. NBC and Bloomberg

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Speaker 2: are reporting that Iran is open to a deal under

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Speaker 2: certain conditions, raising hopes of a diplomatic breakthrough that could

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Speaker 2: eventually lead to more Iranian oil flowing back into global markets.

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Speaker 2: That has added pressure on prices, which were already falling

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Speaker 2: after US government data showed surge in crude stockpiles, the

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Speaker 2: biggest increase since March. And finally, story number five, US

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Speaker 2: President Donald Trump has met with the leader of Katar

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Speaker 2: on the second stop of his Middle East tour, signing

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Speaker 2: agreements that the White House claimed would quote generate an

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Speaker 2: economic exchange worth at least one point two trillion dollars.

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Speaker 2: That comes further down the track, these deals themselves are

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Speaker 2: worth more like two one hundred and forty four billion

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Speaker 2: US dollars. It didn't include the plan for Qatar to

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Speaker 2: donate a Luxury seven four seven for the President to

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Speaker 2: use as the new Air Force one. But while we're

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Speaker 2: on the topic of aircraft, the White House did announce

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Speaker 2: that Qatar Airways had signed a ninety six billion US

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Speaker 2: dollar plan to buy as many as two hundred and

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Speaker 2: ten Boeing aircraft. Agreements were also signed on defense, mostly

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Speaker 2: around drone technology. Next up for the President is a

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Speaker 2: visit to the United Arab Emirates, where talks will focus

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Speaker 2: on the goal of the UAE to become a semiconductor powerhouse.

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Speaker 2: That's it for the afternoon sporught for Thursday, the fifteenth

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Speaker 2: of May twenty twenty five. Make sure you hit follow

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Speaker 2: on the podcast and we'll be back tomorrow morning with

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Speaker 2: the Friday edition of Fear and Greed. I'm Michael Thompson.

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Speaker 1: Enjoy your evening,