1 00:00:03,720 --> 00:00:06,320 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,360 --> 00:00:08,920 Speaker 1: for Wednesday, the twenty sixth of February twenty twenty five. 3 00:00:08,960 --> 00:00:12,080 Speaker 1: I'm Sean Almer. Every afternoon, we've got the five stories 4 00:00:12,119 --> 00:00:13,960 Speaker 1: that happened today that you need to know about. Story 5 00:00:14,080 --> 00:00:16,919 Speaker 1: number one, The SMPA six two hundred finished down just 6 00:00:16,960 --> 00:00:19,720 Speaker 1: to touch today to eighty two hundred and forty one points. 7 00:00:20,079 --> 00:00:22,880 Speaker 1: Plenty of half year profit results pouring in with earning 8 00:00:22,960 --> 00:00:27,560 Speaker 1: season ending on Friday. Some of the highlights today. Woolli's 9 00:00:27,680 --> 00:00:32,200 Speaker 1: reported a net profit down twenty percent last half. That's 10 00:00:32,240 --> 00:00:34,560 Speaker 1: after its supermarket lost two hundred and forty million dollars 11 00:00:34,640 --> 00:00:37,520 Speaker 1: in sales following three weeks of strikes at the supermarkets 12 00:00:37,600 --> 00:00:41,520 Speaker 1: distribution center ahead of Christmas. And Center Group said funds 13 00:00:41,560 --> 00:00:44,440 Speaker 1: from operations was one point one billion dollars, so they 14 00:00:44,479 --> 00:00:47,640 Speaker 1: measured in the property among the property crowd that was 15 00:00:47,720 --> 00:00:50,599 Speaker 1: lower than expectations, and its share price finished down more 16 00:00:50,640 --> 00:00:53,800 Speaker 1: than three percent. Story number two. Opposition leader Peter Dunton 17 00:00:53,840 --> 00:00:57,480 Speaker 1: has been forced to defend purchases of bank stocks sixteen 18 00:00:57,600 --> 00:01:01,240 Speaker 1: or seventeen years ago, just days before the federal government 19 00:01:01,480 --> 00:01:04,440 Speaker 1: announced a bailout package for the sector after the global 20 00:01:04,480 --> 00:01:08,600 Speaker 1: financial crisis. Two issues are being reported by the media. 21 00:01:08,680 --> 00:01:11,720 Speaker 1: The first one mister Dutton bought shares allegedly in major 22 00:01:11,760 --> 00:01:14,200 Speaker 1: banks during record lows and the lead up to the 23 00:01:14,360 --> 00:01:18,360 Speaker 1: large government stimulus package during the GFC. And two, mister 24 00:01:18,400 --> 00:01:22,920 Speaker 1: Dutton allegedly failed to declare to Parliament to property transactions. 25 00:01:23,240 --> 00:01:25,920 Speaker 1: Mister Dutton himself today said he only ever acted with 26 00:01:26,000 --> 00:01:30,000 Speaker 1: integrity and declared he has no hidden assets. But a 27 00:01:30,000 --> 00:01:32,600 Speaker 1: bit like Anthony Alberanezy buying a home on the central 28 00:01:32,640 --> 00:01:35,720 Speaker 1: coast in New South Wales last year, it just doesn't 29 00:01:35,760 --> 00:01:39,040 Speaker 1: look that good story. Number three cost of living pressures 30 00:01:39,080 --> 00:01:41,280 Speaker 1: have hit the travel sector, with both flight Center and 31 00:01:41,400 --> 00:01:45,800 Speaker 1: Hollow World reporting disappointing earnings. Flight Center said the average 32 00:01:45,840 --> 00:01:49,080 Speaker 1: Australian international fair decreased by six and a half percent 33 00:01:49,360 --> 00:01:51,440 Speaker 1: in the December half of the pre tax profit was 34 00:01:51,520 --> 00:01:54,440 Speaker 1: up seven percent. It was below expectations and its share 35 00:01:54,480 --> 00:01:57,800 Speaker 1: price fell ten percent. Today, Hello World share price fell 36 00:01:57,880 --> 00:02:01,360 Speaker 1: nineteen percent after its net profit dropped by thirty two 37 00:02:01,400 --> 00:02:04,400 Speaker 1: percent on the back of lower transaction volumes. Sorry. Number 38 00:02:04,440 --> 00:02:07,240 Speaker 1: four Global engineering group Walley will start a five hundred 39 00:02:07,280 --> 00:02:09,960 Speaker 1: million dollars share buy back after delivering a seventy two 40 00:02:09,960 --> 00:02:13,680 Speaker 1: percent jump in interim profit. Its share price jumped ten percent. 41 00:02:14,080 --> 00:02:17,480 Speaker 1: Linus rare earths net profit collapsed eighty five percent. Now 42 00:02:17,480 --> 00:02:20,760 Speaker 1: Linus is the biggest producer of rare earths outside China, 43 00:02:20,840 --> 00:02:24,799 Speaker 1: but Chinese production has ramped up as a result prices alone, 44 00:02:24,800 --> 00:02:28,919 Speaker 1: and that's really hit Linus. Keltian Group shared fifteen percent 45 00:02:29,000 --> 00:02:31,360 Speaker 1: worse the top two hundred, a day after the shipbuilding 46 00:02:31,400 --> 00:02:34,720 Speaker 1: group posted an eight percent fall in profit, and finally, 47 00:02:34,760 --> 00:02:37,720 Speaker 1: online fashion retailer Setaire report and eleven per cent increase 48 00:02:37,760 --> 00:02:41,000 Speaker 1: in revenues, though its profit was sharply lower. Its share 49 00:02:41,040 --> 00:02:44,800 Speaker 1: price finished down six percent and story number five. Kiev 50 00:02:45,040 --> 00:02:48,840 Speaker 1: has agreed terms with Washington on a mineral's deal that 51 00:02:49,080 --> 00:02:52,279 Speaker 1: Ukrainian officials hope will improve relations with the Trump administration 52 00:02:52,760 --> 00:02:55,520 Speaker 1: and paved the way for a long term US security commitment. 53 00:02:55,880 --> 00:02:58,960 Speaker 1: Ukrainian officials said Kiev is now ready to sign the 54 00:02:58,960 --> 00:03:02,600 Speaker 1: agreement on joint need developing its mineral resources, including oil 55 00:03:02,639 --> 00:03:05,079 Speaker 1: and gas, after the US dropped demands for a right 56 00:03:05,200 --> 00:03:08,320 Speaker 1: to half a trillion dollars in potential revenue from exploiting 57 00:03:08,360 --> 00:03:12,880 Speaker 1: the resources. Although the text lacks explicit security guarantees. The 58 00:03:12,919 --> 00:03:16,720 Speaker 1: official they they have negotiated far more favorable terms than depicted. 59 00:03:16,760 --> 00:03:19,360 Speaker 1: The deal as a way of broadening the relationship with 60 00:03:19,400 --> 00:03:22,320 Speaker 1: the US to shure up Ukraine's prospects after three years 61 00:03:22,360 --> 00:03:24,960 Speaker 1: of war. According to a report in The Financial Times, 62 00:03:25,280 --> 00:03:28,639 Speaker 1: Ukrainian President Vtimezelenski is planning to travel to Washington later 63 00:03:28,639 --> 00:03:31,000 Speaker 1: in the week to visit US President Donald Trump and 64 00:03:31,040 --> 00:03:34,240 Speaker 1: formalize the deal. That's it for the afternoon report for Wednesday, 65 00:03:34,320 --> 00:03:36,560 Speaker 1: the twenty sixth of February twenty twenty five. Make sure 66 00:03:36,600 --> 00:03:38,720 Speaker 1: you hit follow on the podcast. We will be back 67 00:03:38,720 --> 00:03:40,720 Speaker 1: tomorrow morning with the Thursday edition of The Fear and 68 00:03:40,760 --> 00:03:43,600 Speaker 1: Greed Business Years. I'm Sean Elmer. Enjoy your evening.