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Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Tuesday,

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Speaker 1: the third of June twenty twenty five. I'm Sean Elmer.

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Speaker 1: Every afternoon, we've got the five stories that happened today

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Speaker 1: that you need to know about. Strayam one. The Australian

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Speaker 1: share market rose zero point seven percent today to finish

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Speaker 1: at eighty four hundred and sixty seven points. The big

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Speaker 1: banks led the way in corporate news. Engineering stock Tasmia

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Speaker 1: jumped after the company declared a special dividend of twelve

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Speaker 1: cents to share, and Domino's fell after announcing a bunch

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Speaker 1: of leadership changes within its Japanese business in a bid

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Speaker 1: to strengthen execution in the region. Story number two. The

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Speaker 1: value of Australia's agricultural production is forecast to be the

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Speaker 1: third highest on record next financial year, but output outcomes

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Speaker 1: are resting on a knife edge in regions most susceptible

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Speaker 1: to rainfall. Research from the Australian Bureau of Agricultural and

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Speaker 1: Resources Economics and Sciences forecasts the total output across the

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Speaker 1: next financial year will hit ninety seven point five billion

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Speaker 1: dollars when fisheries and forestry are included. A Bears warned

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Speaker 1: that while seasonal conditions across some areas have prompted a

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Speaker 1: strong start to the winter cropping season, output in areas

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Speaker 1: where winter crop has been dry sown places like South

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Speaker 1: Australia parts of Victoria's southern New South Wales, they're very

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Speaker 1: susceptible to rainform. A Bears said export values were expected

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Speaker 1: to fall two point six billion dollars given lower livestock

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Speaker 1: and crop export volumes. Story number three. Treasury Wine Estates,

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Speaker 1: the maker of Penfoles, Pepperjack and Lindermann's, has suffered a

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Speaker 1: major setback in its ambitions to forge a thriving premium

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Speaker 1: wine business in the US after its key distributor in California,

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Speaker 1: which generates one quarter of its North American sales, decided

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Speaker 1: to pull out of the Golden State. It leaves Treasuries

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Speaker 1: scrambling for a new distributor in California, with the shuttered

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Speaker 1: operator responsible for ten percent of group sales. According to

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Speaker 1: The Australian. Hurting the wine maker too is weak consumer

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Speaker 1: demand in the US, driven by economic uncertainty, which has

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Speaker 1: forced Rewind to warn of lower than expected earnings for

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Speaker 1: fiscal twenty twenty five over the last few years, it's

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Speaker 1: spent more than two billion dollars to buy out premium

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Speaker 1: Californian wines. Story number four. Plenty going on in global markets.

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Speaker 1: The Australian dollar was helped by weakness in the green

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Speaker 1: back as expectations for further interst rate cuts and fears

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Speaker 1: around the economic impact of trade policy hit the US dollar.

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Speaker 1: The Aussie dollars buying just under sixty five US cents

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Speaker 1: at the moment. Goal jumped as investors looked for safeer assets.

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Speaker 1: Goals up twenty eight percent this year after hitting a

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Speaker 1: record high above thirty five hundred US dollars an ounce

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Speaker 1: in April. And oil was also higher after opek plus

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Speaker 1: increased production less than some had feared, and geopolitical concerns

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Speaker 1: flared in Ukraine and Iran. Finally, story number five. Shares

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Speaker 1: in IDP Education fell forty seven percent today after the

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Speaker 1: company said it expects student placements to drop bay up

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Speaker 1: to thirty percent this year as global trade uncertainty hurts

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Speaker 1: its enrollment. Pipeline legislative changes in Australia in the UK

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Speaker 1: has hurt its look Now a company downgraded its earnings

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Speaker 1: guidance for this financial im and announced a firm wide

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Speaker 1: review to improve productivity and costs. IDP was formerly partly

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Speaker 1: owned by Australia's universities and seek still a preferred provider

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Speaker 1: for English testing and student placement now. For a while

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Speaker 1: there it did very well Asian kids travel to Australia

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Speaker 1: to study and learn English. That's no longer the case.

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Speaker 1: That's it for the Afternoon Report for Tuesday, the third

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Speaker 1: of June twenty twenty five. Make sure you hit follow

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

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Speaker 1: a Wednesday edition of the Fast five Business News. If

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Speaker 1: I fear in Greek, I'm Seane Elmer. Enjoy your evening,