1 00:00:04,120 --> 00:00:07,360 Speaker 1: Welcome to the Fearing Green Business News Afternoon Report for Monday, 2 00:00:07,400 --> 00:00:09,879 Speaker 1: the seventh of April twenty twenty five. I'm Sean Almer. 3 00:00:10,320 --> 00:00:12,840 Speaker 1: Every afternoon, we've got the fire. Stories have happened today 4 00:00:12,880 --> 00:00:15,400 Speaker 1: that you need to know about. Story number one, S 5 00:00:15,440 --> 00:00:18,600 Speaker 1: and p ASX two hundred tumbled today, It's the best 6 00:00:18,640 --> 00:00:21,040 Speaker 1: way of putting it. Fell by more than six percent 7 00:00:21,120 --> 00:00:23,480 Speaker 1: in the morning session before closing down four point two 8 00:00:23,480 --> 00:00:27,240 Speaker 1: percent to seven three hundred and forty three points. There 9 00:00:27,360 --> 00:00:29,840 Speaker 1: was nowhere to hide with the energy companies leading the 10 00:00:29,880 --> 00:00:33,479 Speaker 1: market lower. In fact, all eleven sub indices finished in 11 00:00:33,520 --> 00:00:37,560 Speaker 1: the red come off. Bank BHP, Woodside, Aristocrat, Leisure, QBE 12 00:00:37,920 --> 00:00:41,440 Speaker 1: all were down around six percent or more. CSL, the 13 00:00:41,479 --> 00:00:44,280 Speaker 1: other three big banks, West Farmers, Goodman Group Computer Share 14 00:00:44,400 --> 00:00:47,319 Speaker 1: all off more than four percent. The consumer Staples well 15 00:00:47,360 --> 00:00:50,360 Speaker 1: is in Cohles did best, so to did Tulstra and 16 00:00:50,479 --> 00:00:54,880 Speaker 1: the infrastructure companies, but really quite the day on the market, 17 00:00:55,040 --> 00:00:58,160 Speaker 1: all on the back of the uncertainty around Donald Trump's tariffs. 18 00:00:58,280 --> 00:01:01,000 Speaker 1: Story number two. Energy giant woodsie I will sell forty 19 00:01:01,080 --> 00:01:04,880 Speaker 1: percent of its interest in its Louisiana LNG infrastructure project 20 00:01:04,880 --> 00:01:08,280 Speaker 1: to a US investment group for five point seven billion 21 00:01:08,480 --> 00:01:11,319 Speaker 1: US dollars. The money from stone Peak will be used 22 00:01:11,360 --> 00:01:14,080 Speaker 1: to fund the capital cost of the project, and Woodside's 23 00:01:14,080 --> 00:01:17,679 Speaker 1: looking at offloading more of the venture. Woodside purchased Louisiana 24 00:01:17,880 --> 00:01:20,640 Speaker 1: LLNG last year and ultimately the Australian company wants to 25 00:01:20,720 --> 00:01:24,000 Speaker 1: keep about fifty percent of it. The first proposed stage 26 00:01:24,200 --> 00:01:28,240 Speaker 1: of the LNG project is expected to cost that fifteen 27 00:01:28,400 --> 00:01:32,200 Speaker 1: to sixteen billion US dollar amount, so Woodside needs some 28 00:01:32,240 --> 00:01:35,800 Speaker 1: friends to help pony up the money. Story number three. 29 00:01:35,880 --> 00:01:39,400 Speaker 1: James Hardy chair An Lloyd met major institutional investors today 30 00:01:39,440 --> 00:01:42,399 Speaker 1: to discuss a growing backlash of a Harti's deal to 31 00:01:42,440 --> 00:01:45,360 Speaker 1: merge with US based AZEC and the fact that local 32 00:01:45,360 --> 00:01:48,160 Speaker 1: shareholders won't get to vote on the deal. The company's 33 00:01:48,160 --> 00:01:50,920 Speaker 1: board and management sort of waiver from the Australian Securities 34 00:01:50,960 --> 00:01:54,160 Speaker 1: Exchange that cut out local shareholders from voting on the deal, 35 00:01:54,600 --> 00:01:57,240 Speaker 1: even though their cash and script is being used to 36 00:01:57,240 --> 00:02:01,120 Speaker 1: fund it. Many investors have declared the ASEEC deal value destructive. 37 00:02:01,520 --> 00:02:04,600 Speaker 1: James Hardy's Australian shares dropped twelve and a half percent 38 00:02:04,640 --> 00:02:06,720 Speaker 1: on the day it revealed the deal, and more than 39 00:02:06,760 --> 00:02:09,480 Speaker 1: five billion dollars has since been stripped from the company's 40 00:02:09,480 --> 00:02:12,400 Speaker 1: market value. James hard is issuing thirty five percent more 41 00:02:12,440 --> 00:02:15,440 Speaker 1: shares to help fund the fourteen billion dollar merger with AASEEK, 42 00:02:15,560 --> 00:02:18,040 Speaker 1: which is an outdoor decking and furniture group. Well, Australian 43 00:02:18,040 --> 00:02:21,880 Speaker 1: investors won't get debate on the merger. AASEC shareholders will. 44 00:02:22,040 --> 00:02:25,280 Speaker 1: Australian Number four, the superannuation regulator, has forced the big 45 00:02:25,320 --> 00:02:29,040 Speaker 1: funds into disclosing whether they've been affected by a coordinated 46 00:02:29,080 --> 00:02:32,720 Speaker 1: cyber attack. Late last week, the Australian Financial Regulation Authority 47 00:02:32,760 --> 00:02:36,520 Speaker 1: gave the funds until midday to day to say whether 48 00:02:36,560 --> 00:02:39,280 Speaker 1: they've been breached. According to the Finn Review, hackers break 49 00:02:39,320 --> 00:02:42,400 Speaker 1: into accounts that Australian Super and Australian Retirement Trust, the 50 00:02:42,400 --> 00:02:46,919 Speaker 1: two biggest funds, rest Host and the MLC expand platform 51 00:02:47,080 --> 00:02:51,760 Speaker 1: run by ASX listed Insignia Financial. We're also hit. APPA 52 00:02:51,760 --> 00:02:56,079 Speaker 1: also told affected funds to provide it with rectification plans 53 00:02:56,120 --> 00:02:59,079 Speaker 1: to refund customers who lost money during the breach. Ozzie 54 00:02:59,080 --> 00:03:01,200 Speaker 1: Super is the only fund report the money was stolen, 55 00:03:01,520 --> 00:03:04,520 Speaker 1: with four members losing around five hundred thousand dollars, and 56 00:03:04,639 --> 00:03:06,359 Speaker 1: Story number five there are a couple of them in 57 00:03:06,400 --> 00:03:09,799 Speaker 1: a deals or at least proposed deals anounced today, both 58 00:03:09,800 --> 00:03:12,720 Speaker 1: at the smaller end of the market. Apicus Storage King 59 00:03:12,919 --> 00:03:16,760 Speaker 1: Raley twenty one percent after its majority investor Kai Corporation 60 00:03:17,320 --> 00:03:19,960 Speaker 1: and New York Stock Exchange listed Public Storage lobbed a 61 00:03:20,000 --> 00:03:22,840 Speaker 1: proposal to buy the remaining stake of the company and 62 00:03:22,960 --> 00:03:27,200 Speaker 1: Challenger per cent after an announced Life insuror twel eachy 63 00:03:27,360 --> 00:03:30,400 Speaker 1: Life would acquire a fifteen point one percent interest and 64 00:03:30,400 --> 00:03:33,320 Speaker 1: a Challenger already has a sales relationship in Japan with 65 00:03:33,520 --> 00:03:36,600 Speaker 1: Achi Life. That's it the Outternoon Report for Monday, the 66 00:03:36,680 --> 00:03:38,600 Speaker 1: seventh of April twenty twenty five. Make sure you hit 67 00:03:38,640 --> 00:03:41,080 Speaker 1: follow on the podcast. We'll be back tomorrow morning with 68 00:03:41,120 --> 00:03:43,840 Speaker 1: a Tuesday edition of the Class five Business Years By 69 00:03:44,000 --> 00:03:47,160 Speaker 1: Here in Green, I'm Sean Elma. Enjoy your evening.