1
00:00:04,200 --> 00:00:07,440
Speaker 1: Welcome to the Fearing Green Business News Afternoon Report for Wednesday,

2
00:00:07,480 --> 00:00:10,280
Speaker 1: the twenty first of August twenty twenty four. I'm Sean Almer.

3
00:00:10,600 --> 00:00:12,880
Speaker 1: Every afternoon, we've got the five stories that happened today

4
00:00:12,880 --> 00:00:14,800
Speaker 1: that you need to know about. Sorry, number one. The

5
00:00:14,920 --> 00:00:17,280
Speaker 1: S and PISX two hundred closed up zero point two

6
00:00:17,320 --> 00:00:21,520
Speaker 1: percent to eighty eleven points today, continuing the almost two

7
00:00:21,560 --> 00:00:25,800
Speaker 1: week streak of positive closes. The Tech index did well

8
00:00:26,000 --> 00:00:28,639
Speaker 1: while the MG index was weakest, but again it was

9
00:00:28,640 --> 00:00:31,560
Speaker 1: all about profit results. Shares of the mining companies bounced

10
00:00:31,560 --> 00:00:34,280
Speaker 1: on rising iron ore prices after China rolled up further

11
00:00:34,320 --> 00:00:37,839
Speaker 1: measures to help its struggling property market. BHP, Rio, Tinto,

12
00:00:38,159 --> 00:00:41,519
Speaker 1: and ford Eskew were all higher, but really bunch of

13
00:00:41,520 --> 00:00:44,720
Speaker 1: profits run through some of them. The lot recorporation operator

14
00:00:44,760 --> 00:00:48,000
Speaker 1: with the Lotto, Powerball and Keno Games, reported a more

15
00:00:48,040 --> 00:00:50,440
Speaker 1: than twenty percent surge net profit on an annual revenue

16
00:00:50,440 --> 00:00:54,720
Speaker 1: of four billion dollars as more Australian signed up as customers. Helius,

17
00:00:54,760 --> 00:00:57,360
Speaker 1: the struggling pathology companies to the sale of its imaging

18
00:00:57,400 --> 00:01:00,200
Speaker 1: business was well advanced. It reported a full year loss

19
00:01:00,240 --> 00:01:03,520
Speaker 1: of six hundred and forty six million dollars that was expected.

20
00:01:03,920 --> 00:01:06,800
Speaker 1: Pilotmaker Brambles was among the biggest gainers today after it

21
00:01:06,840 --> 00:01:09,160
Speaker 1: topped its earnings guidance, with its share price hitting a

22
00:01:09,200 --> 00:01:12,480
Speaker 1: new high. Property fund manager Charter Hall swored more than

23
00:01:12,520 --> 00:01:16,160
Speaker 1: fifteen percent after promising a six percent lift in distributions

24
00:01:16,160 --> 00:01:19,720
Speaker 1: over the coming year. Broadband provider super Loop jumped after

25
00:01:19,800 --> 00:01:22,920
Speaker 1: forecasting stronger earning his growth this financial year. On the

26
00:01:22,959 --> 00:01:26,160
Speaker 1: other side, among the hardest hip was insurance broken network

27
00:01:26,160 --> 00:01:30,280
Speaker 1: AUB Group, despite forecasting higher growth. In corporate travel, fell

28
00:01:30,319 --> 00:01:32,520
Speaker 1: after issuing a profit warning due to changes to the

29
00:01:32,600 --> 00:01:36,199
Speaker 1: UK's refugee to tension program. Actually, there are a couple

30
00:01:36,200 --> 00:01:38,600
Speaker 1: of others, clean Away Waste Management Roads after it beat

31
00:01:38,720 --> 00:01:42,080
Speaker 1: its profit expectations, and Babcorm, the ASX listed group that

32
00:01:42,120 --> 00:01:45,400
Speaker 1: owns automotive past brands Auto Barn, Auto Pro and Burson,

33
00:01:45,840 --> 00:01:48,720
Speaker 1: half its final dividend after reporting a loss for the

34
00:01:48,800 --> 00:01:52,080
Speaker 1: last financial year. Joy number two, a jump in coffee

35
00:01:52,120 --> 00:01:54,800
Speaker 1: machine sales in the United States, has helped Bevel's revenue

36
00:01:54,840 --> 00:01:57,960
Speaker 1: surge to one and a half billion dollars last financial year,

37
00:01:58,240 --> 00:02:00,800
Speaker 1: sending its share price up five percent today. A Brebell

38
00:02:00,960 --> 00:02:03,400
Speaker 1: has more than doubled sales over the past five years,

39
00:02:03,400 --> 00:02:06,000
Speaker 1: and net profit last financial year was up eight percent.

40
00:02:06,320 --> 00:02:09,840
Speaker 1: In the first half, sales stalled after Brebel stopped discounting

41
00:02:09,880 --> 00:02:12,799
Speaker 1: to preserve margins, but then trading picked up in the

42
00:02:12,840 --> 00:02:15,680
Speaker 1: six months to the end of June, delivering double digit

43
00:02:15,800 --> 00:02:19,360
Speaker 1: revenue growth across Europe and the US. Apparently, cooking and

44
00:02:19,480 --> 00:02:23,840
Speaker 1: food preparation appliances staged a turnaround. Chief executive Jim Clayton,

45
00:02:23,880 --> 00:02:27,040
Speaker 1: so the new financial year has started with top line momentum.

46
00:02:27,360 --> 00:02:31,520
Speaker 1: Story number three. Ensurer IAG has warned insurance premiums will

47
00:02:31,600 --> 00:02:35,600
Speaker 1: keep rising, just like competitive Sun Corp said yesterday. In

48
00:02:35,720 --> 00:02:39,639
Speaker 1: IAG's case, it's the surging costs of tradees to repair homes,

49
00:02:39,680 --> 00:02:43,120
Speaker 1: along with car parts and mechanics, pushing up premium prices.

50
00:02:43,400 --> 00:02:46,320
Speaker 1: IAG said his premium income the twenty twenty five financial

51
00:02:46,400 --> 00:02:48,840
Speaker 1: year that's this financial year, will rise by mid to

52
00:02:49,040 --> 00:02:52,600
Speaker 1: high single digits, a similar forecast to Suncorp. However, the

53
00:02:52,600 --> 00:02:56,000
Speaker 1: problem is when customers make claims to fix damaged houses,

54
00:02:56,200 --> 00:03:00,400
Speaker 1: IAGS forking out high costs to pay subcontractors. According to

55
00:03:00,400 --> 00:03:02,760
Speaker 1: report in the fin Review. In Victoria, where much of

56
00:03:02,760 --> 00:03:07,160
Speaker 1: the construction workforce is unionized, under CFMEU labour costs raised

57
00:03:07,160 --> 00:03:09,799
Speaker 1: by eighteen percent in the past year, while costs of

58
00:03:09,840 --> 00:03:13,200
Speaker 1: building materials like paint and plaster or up by ten percent.

59
00:03:13,480 --> 00:03:15,760
Speaker 1: These costs will be passed through over the next twelve

60
00:03:15,760 --> 00:03:18,919
Speaker 1: months as insurance contracts are renewed. The good news is

61
00:03:18,960 --> 00:03:21,880
Speaker 1: that IAG suid priced pressures on car repairs is easy.

62
00:03:22,360 --> 00:03:24,760
Speaker 1: Straight Number four oil and gas giant Santos reported at

63
00:03:24,840 --> 00:03:27,400
Speaker 1: large then expected eighteen percent drop in its first half

64
00:03:27,440 --> 00:03:30,160
Speaker 1: core profit on the back of a week at LNG prices,

65
00:03:30,200 --> 00:03:32,799
Speaker 1: sending its share price down four percent. While the result

66
00:03:32,840 --> 00:03:36,360
Speaker 1: was disappointing, much the focus was on future projects. Santos

67
00:03:36,360 --> 00:03:39,280
Speaker 1: said the contentious Narrowbraye coal sam gas project in New

68
00:03:39,280 --> 00:03:42,080
Speaker 1: South Wales was among several projects that could reach a

69
00:03:42,120 --> 00:03:45,520
Speaker 1: final investment decision next year. The delayed fifteen billion dollar

70
00:03:45,560 --> 00:03:49,520
Speaker 1: popular New Guinea LNG project in the Dorado oil and

71
00:03:49,560 --> 00:03:52,240
Speaker 1: Gas project in Western Australia are also targeted for a

72
00:03:52,280 --> 00:03:55,800
Speaker 1: final go ahead for construction next year, as is Santos's

73
00:03:55,800 --> 00:03:59,240
Speaker 1: first offshore carbon capture and storage project, and finally, Straight

74
00:03:59,280 --> 00:04:01,760
Speaker 1: Umber five U train launched one of the largest ever

75
00:04:01,880 --> 00:04:05,320
Speaker 1: drone attacks on Moscow overnight. According to the city's mayor,

76
00:04:05,440 --> 00:04:08,640
Speaker 1: with Russian air defense units destroying at least eleven drones

77
00:04:08,680 --> 00:04:11,720
Speaker 1: flying towards the capital. Some of the drones were destroyed

78
00:04:11,760 --> 00:04:14,960
Speaker 1: over the city of Padolsk. According to routers Now, The city,

79
00:04:15,120 --> 00:04:17,680
Speaker 1: which is in the Moscow region, is about thirty eight

80
00:04:17,760 --> 00:04:21,360
Speaker 1: kilometers south of the Kremlin. The attack comes as Russia,

81
00:04:21,440 --> 00:04:25,360
Speaker 1: while advancing in eastern Ukraine, struggles to push Ukrainian forces

82
00:04:25,400 --> 00:04:28,480
Speaker 1: out of its own Kursk region, two weeks after they

83
00:04:28,480 --> 00:04:31,760
Speaker 1: smashed through Russia's western border in the largest invasion of

84
00:04:31,839 --> 00:04:35,600
Speaker 1: Russia since World War II. The attacks overnight caused no

85
00:04:35,680 --> 00:04:39,599
Speaker 1: injuries or damage, according to preliminary information as if the

86
00:04:39,600 --> 00:04:42,440
Speaker 1: afternoon report for Wednesday, the twenty first of August twenty

87
00:04:42,480 --> 00:04:44,560
Speaker 1: twenty four. Don't forget to hit follow on the podcast

88
00:04:44,920 --> 00:04:47,880
Speaker 1: and find Fear and Greed on LinkedIn, Instagram, x TikTok

89
00:04:47,920 --> 00:04:50,120
Speaker 1: and Facebook. Joined Michael Thompson and I Tomorrow, I'm wanning

90
00:04:50,160 --> 00:04:52,599
Speaker 1: for the Fast five by Fear and Greed Top five

91
00:04:52,640 --> 00:04:54,920
Speaker 1: business stories you need to know in just five minutes.

92
00:04:55,080 --> 00:04:57,000
Speaker 1: I'm sure I al month enjoy reading