1 00:00:04,200 --> 00:00:06,760 Speaker 1: Welcome to the Fear and Greek Business News Afternoon Report 2 00:00:06,800 --> 00:00:09,480 Speaker 1: for Friday, the thirty first of January twenty twenty five. 3 00:00:09,800 --> 00:00:12,720 Speaker 1: I'm Adam Lang. Every afternoon, we've got the five stories 4 00:00:12,720 --> 00:00:15,080 Speaker 1: that happened today that you need to know about. Story 5 00:00:15,160 --> 00:00:18,479 Speaker 1: number one, Mining, real estate and tech stocs pushed the 6 00:00:18,520 --> 00:00:20,880 Speaker 1: local share market higher today, with the S and p 7 00:00:21,000 --> 00:00:23,960 Speaker 1: ASX two hundred finishing the day up zero point four 8 00:00:24,120 --> 00:00:27,280 Speaker 1: five percent to eighty five hundred and thirty two points. 9 00:00:27,440 --> 00:00:29,320 Speaker 1: It has been a very strong start to the new 10 00:00:29,360 --> 00:00:32,320 Speaker 1: calendar year, with the S and p ASX two hundred 11 00:00:32,600 --> 00:00:35,320 Speaker 1: up one point five percent for the week and four 12 00:00:35,360 --> 00:00:38,840 Speaker 1: point six percent just this month. Bhp N did higher, 13 00:00:38,880 --> 00:00:42,000 Speaker 1: as did Rio, Tinto, Goodman Group and Wistech Global as 14 00:00:42,040 --> 00:00:44,840 Speaker 1: well as zero. There appears to be less trepidation about 15 00:00:44,840 --> 00:00:47,720 Speaker 1: an outbreak of a US led tariff war, and that's 16 00:00:47,720 --> 00:00:50,480 Speaker 1: helping equities. It would have been an even better day 17 00:00:50,560 --> 00:00:52,559 Speaker 1: if not for the fall among the banks. Earlier in 18 00:00:52,600 --> 00:00:55,600 Speaker 1: the week, their share prices rose, but today all four 19 00:00:55,640 --> 00:00:58,960 Speaker 1: big banks and Macquarie were lower. Telstra was among the 20 00:00:58,960 --> 00:01:01,760 Speaker 1: worst of the large caps, dropping more than half a percent. 21 00:01:02,560 --> 00:01:05,959 Speaker 1: Story number two plenty is going on outside the share market. 22 00:01:06,240 --> 00:01:09,240 Speaker 1: The rally in bitcoin slowed somewhat today, with the crypto 23 00:01:09,400 --> 00:01:12,400 Speaker 1: until now fetching just under US one hundred and five 24 00:01:12,480 --> 00:01:15,840 Speaker 1: thousand a unit. The Aussie dollar, however, isn't having such 25 00:01:15,840 --> 00:01:17,800 Speaker 1: a good time, and it finished the week at around 26 00:01:17,840 --> 00:01:22,040 Speaker 1: sixty two US cents. Certainly, bond markets are still pricing 27 00:01:22,040 --> 00:01:23,680 Speaker 1: in a rate cut in the middle of next month. 28 00:01:23,720 --> 00:01:27,399 Speaker 1: In Australia, with all four big bank chief economists now 29 00:01:27,440 --> 00:01:29,880 Speaker 1: calling for a cut, the pressure is on the Reserve 30 00:01:29,920 --> 00:01:33,960 Speaker 1: Bank of Australia board to provide some relief for mortgage holders. 31 00:01:34,120 --> 00:01:38,800 Speaker 1: Story number three. Australian based Nasdaq listed Atlasian's share price 32 00:01:39,160 --> 00:01:42,400 Speaker 1: surged nearly twenty percent this morning after a very strong 33 00:01:42,440 --> 00:01:46,319 Speaker 1: December quarter profit report. The company famously didn't have any 34 00:01:46,360 --> 00:01:49,720 Speaker 1: salespeople in its first decade of existence, but now chief 35 00:01:49,760 --> 00:01:52,920 Speaker 1: executive Mike canon Brooks is singing their praises. This is 36 00:01:52,920 --> 00:01:55,520 Speaker 1: according to a report in the Australian Financial Review. He 37 00:01:55,560 --> 00:01:58,200 Speaker 1: said the sales team had some massive customer wins during 38 00:01:58,240 --> 00:02:01,440 Speaker 1: the quarter. At Lassian's shares climbed nineteen and a half 39 00:02:01,480 --> 00:02:05,160 Speaker 1: percent to their highest level in almost three years, adding 40 00:02:05,440 --> 00:02:08,480 Speaker 1: four point one billion to the fortunes of both mister 41 00:02:08,520 --> 00:02:12,840 Speaker 1: cannon Brooks and co founder Scott Farquhar storing number four. 42 00:02:13,080 --> 00:02:17,080 Speaker 1: National Australia Bank is considering opening branches in shopping centers 43 00:02:17,080 --> 00:02:19,959 Speaker 1: on Sunday and will extend trading hours to all day 44 00:02:20,000 --> 00:02:23,160 Speaker 1: on Saturday to more than two dozen locations and that's 45 00:02:23,200 --> 00:02:26,519 Speaker 1: starting this weekend. If National Australian Bank opens on a Sunday, 46 00:02:26,520 --> 00:02:28,680 Speaker 1: it will be the first major bank to trade on 47 00:02:28,760 --> 00:02:33,000 Speaker 1: Sundays in decades. Both Commonwealth Bank and ANZ experimented with 48 00:02:33,040 --> 00:02:35,720 Speaker 1: opening some outlets on Sundays in the past. The Bank 49 00:02:35,760 --> 00:02:38,040 Speaker 1: said its decision to open branches on weekends was not 50 00:02:38,200 --> 00:02:40,799 Speaker 1: in response to political pressure and this is according to 51 00:02:40,800 --> 00:02:43,720 Speaker 1: the Australian Financial Review. Instead, it is in the hope 52 00:02:43,720 --> 00:02:48,440 Speaker 1: of increasing customer satisfaction scores After positive feedback from trials, 53 00:02:48,760 --> 00:02:51,760 Speaker 1: Labour and the Coalition have pushed banks to keep branches open, 54 00:02:51,960 --> 00:02:56,080 Speaker 1: although that effort has really been focused on keeping countrysides operating. 55 00:02:56,560 --> 00:02:59,280 Speaker 1: The last time there was significant competition at bank branches 56 00:02:59,280 --> 00:03:02,600 Speaker 1: on weekends was in two thousand and seven, when Commonwealth 57 00:03:02,600 --> 00:03:04,840 Speaker 1: Bank said it would open some on Sundays, and at 58 00:03:04,880 --> 00:03:08,360 Speaker 1: the time ANZ operated two branches on Sundays. CBA and 59 00:03:08,400 --> 00:03:11,400 Speaker 1: Westbak still operate a handful of branches on Saturdays, and 60 00:03:11,520 --> 00:03:14,320 Speaker 1: National Australia Bank has twelve and will now increase that 61 00:03:14,440 --> 00:03:19,200 Speaker 1: number by seventeen and storing number five. ResMed boss Mick 62 00:03:19,280 --> 00:03:22,640 Speaker 1: Farrell so the new Trump administration could be a tailwind 63 00:03:22,680 --> 00:03:26,680 Speaker 1: for the company, likely locking in a supportive taxation environment 64 00:03:26,960 --> 00:03:31,440 Speaker 1: while potentially imposing tariffs which would disproportionately hit its competitors. 65 00:03:32,120 --> 00:03:35,240 Speaker 1: Mister Farrell said, speaking both as chief executive of ResMed 66 00:03:35,600 --> 00:03:38,560 Speaker 1: and as chair of the industry lobby group ADVERMED, he 67 00:03:38,600 --> 00:03:41,320 Speaker 1: would prefer that medical devices be carved out of any 68 00:03:41,360 --> 00:03:44,360 Speaker 1: tariff regimes should they be implemented, and this is according 69 00:03:44,360 --> 00:03:47,960 Speaker 1: to reporting The Australian. But with RESMD manufacturing its sleep 70 00:03:48,000 --> 00:03:51,760 Speaker 1: health devices in jurisdiction such as Sydney, Singapore and the 71 00:03:51,880 --> 00:03:55,080 Speaker 1: US itself, the risk to the company from higher tariffs 72 00:03:55,080 --> 00:03:57,640 Speaker 1: on countries such as China was not as much of 73 00:03:57,640 --> 00:04:00,080 Speaker 1: a concern, and on the tax front, the local the 74 00:04:00,080 --> 00:04:02,800 Speaker 1: hood that changes the present made in his twenty seventeen 75 00:04:03,160 --> 00:04:06,560 Speaker 1: Tax Cuts and Jobs Act, which set a flat corporate 76 00:04:06,600 --> 00:04:09,480 Speaker 1: tax rate of twenty one percent, would remain in place. 77 00:04:09,720 --> 00:04:12,080 Speaker 1: With some of those changes were due to expire this year, 78 00:04:12,080 --> 00:04:14,640 Speaker 1: and he said that was a positive. That's it for 79 00:04:14,680 --> 00:04:17,400 Speaker 1: the afternoon Report for Friday, the thirty first of January 80 00:04:17,400 --> 00:04:20,400 Speaker 1: twenty twenty five. Make sure you hit follow on the podcast. 81 00:04:20,440 --> 00:04:22,800 Speaker 1: We'll be back tomorrow morning with the weekend edition of 82 00:04:22,800 --> 00:04:25,360 Speaker 1: the Fast five Business News by Fear and Greed. I'm 83 00:04:25,360 --> 00:04:26,919 Speaker 1: Adam Lane. Enjoy your evening.