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

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Speaker 1: for Tuesday, the thirteenth of August twenty twenty four. I'm

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

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Speaker 1: happen today that you need to know about. Story number one,

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Speaker 1: there's in PASX two hundred closed up slightly today the

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Speaker 1: seven eight hundred and twenty eight points, with profit results

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Speaker 1: dominating proceedings broadly, the financials did best and the Healthcare

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Speaker 1: index did worst. The main reason for the drop in

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Speaker 1: the health Care Index was the CSL result. Its share

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Speaker 1: price fell four and a half percent after Australia's second

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Speaker 1: largest company set its core plasma collection business is back

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Speaker 1: on track. However, its vaccine and pharmaceutical operations will not

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Speaker 1: grow as fast in the near term. Also, while revenue

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Speaker 1: was higher, so too we're operating costs outside the reporting

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Speaker 1: companies today as ED and Comwealth Bank led the way,

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Speaker 1: both jumping more than one and a half percent. Westpac

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Speaker 1: rose one percent, as did West Farmers and Goodman Group.

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Speaker 1: Oil giant Santos with another strong performer, ford es Q

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Speaker 1: and wis Tech Global were among the laggards. Story number

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Speaker 1: two Paul Keating and Nancy Pelosi have traded barbes over

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Speaker 1: the status of Taiwan, with the former United States House

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Speaker 1: Speaker saying Keating's description of the self governing island as

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Speaker 1: Chinese real estate was a stupid statement. The former Labor

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Speaker 1: Prime Minister hit back, declaring Pelosi had been recklessly indulgent

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Speaker 1: and brought the US and China close to war by

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Speaker 1: visiting Taiwan in twenty twenty two. According to a report

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Speaker 1: in the Cydney Morning Herald. In an interview on the

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Speaker 1: ABC seven to thirty program last week, Keeping downplayed concerns

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Speaker 1: about a Chinese invasion of Taiwan, saying the island was

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Speaker 1: Chinese real estate. Pelosi responded also on seven thirty, saying,

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Speaker 1: you don't want to get my description of him for

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Speaker 1: saying that that's ridiculous. It is not Chinese real estate,

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Speaker 1: and he should know that Taiwan is Taiwan, and it

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Speaker 1: is the people of Taiwan who have a democracy there.

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Speaker 1: I think that was a stupid statement. Wow, she got him.

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Speaker 1: Story Number three Online Jobs group seeks share price tumble

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Speaker 1: six point six percent today after a significant reduction in

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Speaker 1: job add volumes across Australia, along with an impairment of

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Speaker 1: its investment in Chinese group Zoupin pushed the group's full

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Speaker 1: year earnings to a loss. Chief executive in Nareva didn't

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Speaker 1: have a lot of good news for shareholders, saying the

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Speaker 1: economic situation would weigh further on the company this financial

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Speaker 1: year amid a higher unemployment rate in less demand for hiring.

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Speaker 1: He said, based on macroeconomists forecasts, SEEK had assumed paid

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Speaker 1: ad volumes will continue to fall this financial lim. Revenue

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Speaker 1: last financial year fell seventeen percent, while adjusting net profit

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Speaker 1: fell more than seventy percent. Seek previously announced an impairment

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Speaker 1: charge related to its investment in Zaupin of one hundred

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Speaker 1: and forty one million dollars straightam before packaging Giant. Aurora

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Speaker 1: has rejected a three point four billion dollar takeover offer

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Speaker 1: from US private equity group loan Star Fund twelve Acquisitions. Aurora,

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Speaker 1: which reports its earnings tomorrow, said the bid was opportunistic,

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Speaker 1: conditional and non buy, but that didn't stop the group's

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Speaker 1: share price surging nineteen percent today to two dollars twenty seven.

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Speaker 1: The bid is priced at two dollars fifty five per share,

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Speaker 1: less any dividends declared or payable. The board of Aurora

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Speaker 1: said the bid undervalued the company, and finally, story number

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Speaker 1: five Annuity and funds manage a Challenger said it's selling

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Speaker 1: record numbers of retirement products as retirees and pre retirees

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Speaker 1: worry about cost of living pressures. Challenger announceday seventeen percent

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Speaker 1: increase in profit last financial year thanks to a doubling

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Speaker 1: of sales of its annuity products, which provide a set

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Speaker 1: income for anywhere from two years to the rest of

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Speaker 1: a person's life. The search has come in annuities linked

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Speaker 1: to inflation. Not surprising really. The increase in interest rates

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Speaker 1: in recent years has also helped make annuities more attractive,

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Speaker 1: said Chief executive Nick Hamilton. The funds management business of

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Speaker 1: Challenger reported an eleven percent drop in underlying earnings, even

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Speaker 1: though funds under management rose. Challenges share price closed up

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Speaker 1: six and a half percent as it for the Afternoon

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Speaker 1: Report for Tuesday, the thirteenth of August twenty twenty four,

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Speaker 1: Don't Forget Tit following on the podcast and find fear

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Speaker 1: and Greed on LinkedIn, Instagram, x TikTok and Facebook. Join

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Speaker 1: Michael Thompson Night Tomorrow Morning for the Fast five by

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Speaker 1: fear and greed. The top five business stories you need

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Speaker 1: to know in just five minutes. I'm Sean Elma enjoy evening,