1 00:00:03,640 --> 00:00:06,160 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,200 --> 00:00:07,760 Speaker 1: for Thursday, the tenth of April. 3 00:00:07,560 --> 00:00:09,560 Speaker 2: Twenty twenty five. I'm Sean Alma. 4 00:00:09,720 --> 00:00:12,440 Speaker 1: Every afternoon, we've got the five stories that happened today 5 00:00:12,440 --> 00:00:15,080 Speaker 1: that you need to know about astroliumer one. It's been 6 00:00:15,080 --> 00:00:17,920 Speaker 1: a crazy twenty four hoursand markets with US President Donald 7 00:00:17,960 --> 00:00:22,040 Speaker 1: Trump this morning backflipping on tariff's instituting a ninety day 8 00:00:22,120 --> 00:00:26,560 Speaker 1: pause for all countries except China. Tariffs on Chinese goods 9 00:00:26,560 --> 00:00:28,280 Speaker 1: coming to the US will be hit by a one 10 00:00:28,320 --> 00:00:31,880 Speaker 1: hundred and twenty five percent tariff. The result of the 11 00:00:31,920 --> 00:00:35,680 Speaker 1: early morning announcement Australian time was a surge in global 12 00:00:35,720 --> 00:00:38,720 Speaker 1: equity markets, with the S and PASEX two hundred finishing 13 00:00:38,800 --> 00:00:41,520 Speaker 1: up four and a half percent to seven seven hundred 14 00:00:41,560 --> 00:00:45,120 Speaker 1: and ten points. Every stock on the ASX two hundred 15 00:00:45,560 --> 00:00:48,400 Speaker 1: ended higher today, led by the tech companies, big miners 16 00:00:48,400 --> 00:00:53,720 Speaker 1: in energy groups. Australia actually underperformed Wall Street. The S 17 00:00:53,760 --> 00:00:56,400 Speaker 1: and P five hundred closed this morning up nine and 18 00:00:56,400 --> 00:00:59,960 Speaker 1: a half percent. The tech heavy Nasdaq was up twelve percent. 19 00:01:00,480 --> 00:01:04,080 Speaker 1: What an incredible day. Story Number two in Corporate news 20 00:01:04,200 --> 00:01:07,679 Speaker 1: cubes share price jumped after the competition watchdog, the Australian 21 00:01:07,680 --> 00:01:11,280 Speaker 1: Competition and Consumer Commission approved its acquisition of a Melbourne 22 00:01:11,360 --> 00:01:14,960 Speaker 1: car import terminal and Izzy Broadband rose after announcing plans 23 00:01:15,000 --> 00:01:18,280 Speaker 1: to expand its maibile phone business, having signed a new 24 00:01:18,520 --> 00:01:21,039 Speaker 1: agreement with Optis to keep using its networks. 25 00:01:21,319 --> 00:01:24,960 Speaker 2: Story number three. Private equity owned Healthscope wants to discuss 26 00:01:25,080 --> 00:01:28,640 Speaker 2: handing back the keys to the Northern Beaches Hospital in 27 00:01:28,720 --> 00:01:32,280 Speaker 2: Sydney after a litany of problems have emerged since opening 28 00:01:32,319 --> 00:01:35,520 Speaker 2: in twenty eighteen. The hospital currently operates as a public 29 00:01:35,640 --> 00:01:38,680 Speaker 2: private partnership with the New South Wales government. It's set 30 00:01:38,720 --> 00:01:41,800 Speaker 2: to run for a few years yet, but essentially it's failed. 31 00:01:42,000 --> 00:01:46,080 Speaker 2: In a statement, Healthscope acknowledged that Northern Beaches Hospital continues 32 00:01:46,120 --> 00:01:50,440 Speaker 2: to operate as a PPP, however that's no longer compatible 33 00:01:50,480 --> 00:01:53,120 Speaker 2: with the government's objectives. As a result, it wants to 34 00:01:53,160 --> 00:01:57,200 Speaker 2: return it to New South Wales Health. Healthscope runs thirty 35 00:01:57,200 --> 00:02:00,720 Speaker 2: eight private hospitals nationally. It's fighting for the as it 36 00:02:00,760 --> 00:02:03,920 Speaker 2: struggles with one point six billion dollars in debt. Straight 37 00:02:04,000 --> 00:02:08,640 Speaker 2: number four. Outspoken Santos chief executive Kevin Gallagher says he 38 00:02:08,840 --> 00:02:11,560 Speaker 2: isn't stepping down after nine years in the role and 39 00:02:11,639 --> 00:02:14,560 Speaker 2: has had a crack at politicians handling of the energy transition. 40 00:02:15,080 --> 00:02:18,920 Speaker 2: A six million dollar growth incentive has tied Galaher to 41 00:02:19,080 --> 00:02:21,639 Speaker 2: Santos for the past several years. That lapses at the 42 00:02:21,720 --> 00:02:25,240 Speaker 2: end of this year. That's prompted calls from proxy advisors, investors, 43 00:02:25,280 --> 00:02:28,880 Speaker 2: and analysts for more information on succession. Galaher told the 44 00:02:28,919 --> 00:02:31,680 Speaker 2: Earl and Gas Companies AGM today that he isn't going 45 00:02:31,760 --> 00:02:35,880 Speaker 2: anywhere anytime soon. He also cautioned whichever side wins power 46 00:02:35,919 --> 00:02:38,080 Speaker 2: in the May three federal election to be careful of 47 00:02:38,120 --> 00:02:42,040 Speaker 2: proposing plans that might lead to instability the nation's energy supply, 48 00:02:42,400 --> 00:02:45,280 Speaker 2: warning it could lead to higher prices and potentially job 49 00:02:45,320 --> 00:02:48,760 Speaker 2: losses and sorry number five. A new report warns that 50 00:02:48,760 --> 00:02:51,920 Speaker 2: the golden era for industrial property has come to an 51 00:02:52,000 --> 00:02:53,800 Speaker 2: end and rents will fall by as much as eleven 52 00:02:53,840 --> 00:02:57,640 Speaker 2: percent across the Eastern Seaboard as new warehouses enter the market. 53 00:02:57,960 --> 00:03:00,799 Speaker 2: That's the prediction of Oxford Economics j Aalia, which says 54 00:03:00,800 --> 00:03:03,079 Speaker 2: developers is due to complete an estimated three and a 55 00:03:03,120 --> 00:03:06,359 Speaker 2: half million square meters of space this year another two 56 00:03:06,360 --> 00:03:09,280 Speaker 2: and a half million square meters next year. Industrial property 57 00:03:09,360 --> 00:03:11,639 Speaker 2: since COVID has been the golden child of the real 58 00:03:11,720 --> 00:03:15,200 Speaker 2: estate sector. Fulfillment centers for e commerce have resulted in 59 00:03:15,200 --> 00:03:18,480 Speaker 2: companies like Goodman Group booming, and more recently the boom 60 00:03:18,480 --> 00:03:20,160 Speaker 2: has been in data centers, which is sort of an 61 00:03:20,160 --> 00:03:22,880 Speaker 2: offshoot of industrial property that's probably nowadays big enough to 62 00:03:22,880 --> 00:03:26,560 Speaker 2: have its own category, and the love affair with industrial 63 00:03:26,600 --> 00:03:29,040 Speaker 2: property has just come off the boil. That's it for 64 00:03:29,040 --> 00:03:31,600 Speaker 2: the Afternoon Report for Thursday, the tenth of April twenty 65 00:03:31,600 --> 00:03:33,720 Speaker 2: twenty five. Make sure you hit follow on the podcast. 66 00:03:33,960 --> 00:03:36,160 Speaker 1: We'll be back tomorrow morning with the front edition off 67 00:03:36,160 --> 00:03:37,480 Speaker 1: Heear and Greed business News. 68 00:03:37,880 --> 00:03:39,960 Speaker 2: I'm Seanaelmer. Enjoy your evening.