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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Thursday, the thirtieth of January twenty twenty five. I'm

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Speaker 1: Sean Almer. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about. Story on

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Speaker 1: them one. This Jonge share market hit a record high

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Speaker 1: this afternoon, with investors buoyed by hopes of interest rate

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Speaker 1: cuts next month. Just after lunch, the SMPASEX two hundred

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Speaker 1: hit eighty five hundred and fifteen point one points before

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Speaker 1: closing up half a percent, just under that eighty five

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Speaker 1: hundred point mark that surpassed the highs of early December

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Speaker 1: last year. Energy and interest rate sensitive stocks did best today,

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Speaker 1: though so too did consumer staples and financials. In fact,

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Speaker 1: all eleven of the AX subindices were higher today. What's

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Speaker 1: going on, Well, there's a general boosting sentiment from the

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Speaker 1: prospect of a rate cut in the middle of next month,

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Speaker 1: Following the benign inflation figures out yesterday. All four major

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Speaker 1: banks Commonwealth Bank, National Australia Bank, west Pac and ain

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Speaker 1: Z ED are now predicting a rate cut when the

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Speaker 1: Reserve Bank Board meets on sixteenth and seventeenth of February. Also,

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Speaker 1: this is also general boost from Donald Trump. At the moment,

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Speaker 1: it one seems to be facing on the good stuff

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Speaker 1: that could happen in the US, things like lower corporate

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Speaker 1: tax rate, not so much the bad stuff. Storing number

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Speaker 1: two ahead of earnings season, which kicks off in a

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Speaker 1: couple of weeks. There's plenty of companies announcements at the moment.

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Speaker 1: Some of the highlights. Zip Code's share price tumbled as

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Speaker 1: much as twenty five percent after buying our pay Later.

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Speaker 1: Company's second quarter results disappointed Perpetual. The fund manager reported

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Speaker 1: a rise in total assets under management to two hundred

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Speaker 1: and thirty billion dollars, though that was thanks to positive

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Speaker 1: currency movements, it was actually a three point eight billion

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Speaker 1: dollar net outflow. Debt collect To Credit Corp announced a

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Speaker 1: disappointing collections figure, its share price tumbled twelve percent, and

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Speaker 1: liftin Group Igo posted a seventy nine million dollars loss

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Speaker 1: for December quarter, his share price for more than two percent.

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Speaker 1: Stratum of three. Big news out of the US is

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Speaker 1: that the Federal Reserve has kept interest rates on hold.

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Speaker 1: Held its January meeting. Overnight chair Jerome Powell said he'd

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Speaker 1: like to see further progress on inflation before considering an

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Speaker 1: interest rate cut. He said rates might not move for

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Speaker 1: the foreseeable future. He is worried somewhat about the re

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Speaker 1: emergence of inflation. President Donald Trump wasn't impressed. He posted

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Speaker 1: and I quote if the feed had spent less time

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Speaker 1: on gender ideology, green energy, and fake climate change, inflation

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Speaker 1: would never have been a problem. Also, there was a

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Speaker 1: bunch of tech companies reporting earnings overnight. Tesla said it

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Speaker 1: was on track to roll out new, cheaper electric vehicle

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Speaker 1: models in the first half of this year, as its

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Speaker 1: quarterly profit and revenue fell short of expectations for December

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Speaker 1: quarter that was due to discounts and financing offers Metas

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Speaker 1: Mark Zuckerberg was very upbeat about the group's artificial intelligence

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Speaker 1: strategy after unveiling somewhat disappointing sales forecast, and Microsoft said

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Speaker 1: its cloud computing business will continue to grow slowly in

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Speaker 1: the current quarter as the company struggles to build enough

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Speaker 1: data centers to handle demand for its AI products. Straighthum

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Speaker 1: before The federal government is promising to give Victoria two

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Speaker 1: and a half billion dollars in additional education funding over

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Speaker 1: the next decade. Education Minister Jason Clare calls it a

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Speaker 1: big day for public schools in the state. He says

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Speaker 1: it will turn around the decline in teenagers not finishing

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Speaker 1: school in Victoria. Meanwhile, Assistant Treasurer Stephen Jones will retire

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Speaker 1: from Parliament at the next federal election, setting the stage

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Speaker 1: for a reshuffle of Prime Minister Anthony Albanese's economic teams.

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Speaker 1: That's assuming the alp wins. Of course, Stephen Jones has

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Speaker 1: been in Canberra for fifteen years. Good luck to him

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Speaker 1: and Stratumer five Mineral Resources debt has grown to five

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Speaker 1: billion dollars as it builds its export hub in Western

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Speaker 1: Australia and battles weak commodity prices and governance concerns. It's

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Speaker 1: spending two point six billion dollars to build an next

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Speaker 1: board hub it exports iron ore and lithium or it

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Speaker 1: will export iron or and lithium from that hub. Founder

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Speaker 1: and managing director Chris Ellison has in the last few

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Speaker 1: days it seems been issued to Section nineteen. That is

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Speaker 1: by the corporate regulator ASSEK. That means he is under

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Speaker 1: formal investigation. That's over alleged offshore tax evation schemes. That

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Speaker 1: he benefited from that came to light last year. Mister

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Speaker 1: Elson is eleven percent owner of Mineral Resources. He will

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Speaker 1: step down as managing director within the next eighteen months

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Speaker 1: or so. That broke last year. Mid Rez's share price

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Speaker 1: has gone from more than four dollars in May to

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Speaker 1: two dollars thirty six. Ouch. Debt's higher at the company

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Speaker 1: even after it sold a forty nine percent stake and

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Speaker 1: it's one hundred and forty seven kilometer private railroad in

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Speaker 1: the pilbra It got one point one billion dollars for that,

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Speaker 1: yet it's still over five billion dollars. Now. That's it

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Speaker 1: for the afternoon report for Thursday, the thirtieth of January

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Speaker 1: twenty twenty five. Make sure you hit follow on the podcast.

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Speaker 1: We'll be back to my own morning with the edition

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Speaker 1: A Fear in Green Business News. I'm Suan Elma. Enjoy

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Speaker 1: reading me.