1 00:00:06,000 --> 00:00:08,600 Sean Aylmer: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:08,600 --> 00:00:11,560 Sean Aylmer: for Wednesday, the twenty sixth of March twenty twenty five. 3 00:00:11,600 --> 00:00:14,520 Sean Aylmer: I'm suan alma. Every afternoon, We've got the five stories 4 00:00:14,560 --> 00:00:16,840 Sean Aylmer: that happened today that you need to know about. Sorry. 5 00:00:16,920 --> 00:00:19,239 Sean Aylmer: Number one. Inflation figures for the month of February were 6 00:00:19,239 --> 00:00:22,800 Sean Aylmer: released today. In the all important underlying reading, the month 7 00:00:23,000 --> 00:00:25,639 Sean Aylmer: was two point seven percent, well within the reserve banks 8 00:00:25,640 --> 00:00:28,960 Sean Aylmer: two to three percent target range. That helped investors, with 9 00:00:29,040 --> 00:00:32,320 Sean Aylmer: the SMPA six two hundred finishing up zero point seven 10 00:00:32,360 --> 00:00:36,479 Sean Aylmer: percent to seven nine hundred and ninety nine points. Mind you, 11 00:00:36,600 --> 00:00:39,240 Sean Aylmer: during the session, it did push above eight thousand points 12 00:00:39,240 --> 00:00:41,400 Sean Aylmer: for the first time in a fortnight or so. The 13 00:00:41,440 --> 00:00:44,240 Sean Aylmer: banks did particularly well. Aane ZB was up three percent, 14 00:00:44,440 --> 00:00:47,800 Sean Aylmer: so to the miners and the energy companies. Retailers also 15 00:00:47,880 --> 00:00:51,440 Sean Aylmer: did well, while the healthcare sector underperformed. In corporate news, 16 00:00:51,520 --> 00:00:55,560 Sean Aylmer: Vulcan Energy jumped twelve percent after the European Commission recognized 17 00:00:55,600 --> 00:00:59,280 Sean Aylmer: its Lion Heart lithium project as crucial to securing the 18 00:00:59,320 --> 00:01:03,840 Sean Aylmer: continents critical mineral supply chain, and Paladin Energy tumble twelve 19 00:01:03,880 --> 00:01:07,480 Sean Aylmer: percent after retracting its twenty twenty five production guidance due 20 00:01:07,520 --> 00:01:12,640 Sean Aylmer: to unseasonably heavy rainfall disrupting its Namibia Lange Heinrich mine. 21 00:01:12,959 --> 00:01:16,560 Sean Aylmer: Story number two. The fallout from last night's budget continues. 22 00:01:16,920 --> 00:01:19,760 Sean Aylmer: Question Time today in Palam is very much focused on 23 00:01:19,800 --> 00:01:23,320 Sean Aylmer: the country's finances. The debate was around task cuts, work 24 00:01:23,360 --> 00:01:27,240 Sean Aylmer: from home, instant asset right off legislation, all types of things. 25 00:01:27,520 --> 00:01:30,000 Sean Aylmer: This is the last week of parliament ahead of the election. 26 00:01:30,360 --> 00:01:34,560 Sean Aylmer: In the Senate, Green's Senator Sarah Hanson Young wilded a 27 00:01:34,640 --> 00:01:38,920 Sean Aylmer: large fish protesting what she calls a gutting of environmental 28 00:01:39,000 --> 00:01:43,320 Sean Aylmer: laws by the Albanesi government. Meanwhile, the Prime Minister flag 29 00:01:43,360 --> 00:01:46,320 Sean Aylmer: further election announcements to help traderes and blue collar workers 30 00:01:46,440 --> 00:01:49,640 Sean Aylmer: during the election campaign, which we expect to be announced 31 00:01:49,720 --> 00:01:52,840 Sean Aylmer: over the next few days. Sorry number three. Seal makers 32 00:01:53,080 --> 00:01:56,000 Sean Aylmer: need coal to burn in their blast furnaces, and administrators 33 00:01:56,000 --> 00:01:59,080 Sean Aylmer: of Whyalas Steel Works have scrambled to buy cocin coal 34 00:01:59,360 --> 00:02:03,400 Sean Aylmer: from competitive Bluescope as well as China and Indonesia after 35 00:02:03,440 --> 00:02:06,520 Sean Aylmer: finding they had just three days of supplier left. They 36 00:02:06,520 --> 00:02:09,480 Sean Aylmer: spent sixty million dollars buying up coal after previous owner 37 00:02:09,520 --> 00:02:14,640 Sean Aylmer: Sanji Gupta ran down stockpiles. So when administrator's Quadamenta arrived 38 00:02:14,960 --> 00:02:18,440 Sean Aylmer: there are only three days of supply. Yesterday, Cordamenta called 39 00:02:18,480 --> 00:02:23,120 Sean Aylmer: it an unexpected cost Quartermenttha said Bluescope is among twelve 40 00:02:23,160 --> 00:02:26,080 Sean Aylmer: parties interested in acquiring the steel Works. The steel Works 41 00:02:26,120 --> 00:02:28,680 Sean Aylmer: was forced into administration by the South Australian government in 42 00:02:28,680 --> 00:02:31,560 Sean Aylmer: mid February. I mean one point three five billion dollars. 43 00:02:32,000 --> 00:02:36,440 Sean Aylmer: Straight number four bottle shops, First Choice and Vitage Sellers 44 00:02:36,800 --> 00:02:39,840 Sean Aylmer: will be rebranded. In fact, they're going to become liquor 45 00:02:39,880 --> 00:02:42,239 Sean Aylmer: Lands as part of owner coals as efforts to take 46 00:02:42,240 --> 00:02:45,880 Sean Aylmer: on Dan Murphy's Endeavor owns Dan Murphy's it used to 47 00:02:45,880 --> 00:02:48,200 Sean Aylmer: be owned by Woolies. Dance has been the market leader 48 00:02:48,240 --> 00:02:50,160 Sean Aylmer: for a long time, and as part of Coal's efforts 49 00:02:50,240 --> 00:02:53,480 Sean Aylmer: to gain some ground, all nine hundred and eighty four 50 00:02:53,560 --> 00:02:57,720 Sean Aylmer: of its liquor stores will become liquor Land. Coles wants 51 00:02:57,760 --> 00:03:00,560 Sean Aylmer: to build a national brand and will reinvigorate its price 52 00:03:00,800 --> 00:03:04,119 Sean Aylmer: matching campaign starting next month. The national rollout, we'll see 53 00:03:04,160 --> 00:03:08,760 Sean Aylmer: all Coal's liquor stores unified under three banners Lickorland, liquor 54 00:03:08,800 --> 00:03:13,239 Sean Aylmer: Land Sellers and Lickorland Warehouse. The program will increase Lickorland's 55 00:03:13,240 --> 00:03:15,600 Sean Aylmer: footprint by twenty five percent, with many of the stores 56 00:03:15,639 --> 00:03:18,800 Sean Aylmer: located near or adjacent to a coal supermarket and final 57 00:03:18,840 --> 00:03:21,480 Sean Aylmer: astor at number five. US Vice President JD. Vance is 58 00:03:21,520 --> 00:03:25,240 Sean Aylmer: heading to Greenland this week, taking over a controversial visit 59 00:03:25,320 --> 00:03:27,800 Sean Aylmer: that officials in Greenland have made very clear that they 60 00:03:27,840 --> 00:03:31,160 Sean Aylmer: don't want at all. This week, the Trump administration said 61 00:03:31,280 --> 00:03:34,239 Sean Aylmer: that Usher Vans, the Second Lady, and Michael Walltz, the 62 00:03:34,360 --> 00:03:37,560 Sean Aylmer: National Security Advisor, we're traveling to Greenland to promote ties 63 00:03:37,920 --> 00:03:41,880 Sean Aylmer: with the semi autonomous territory of Denmark that President Donald 64 00:03:41,880 --> 00:03:44,760 Sean Aylmer: Trump wants for the United States. Officials from Denmark and 65 00:03:44,800 --> 00:03:48,200 Sean Aylmer: Greenland immediately branded the trip as aggressive and part of 66 00:03:48,240 --> 00:03:50,880 Sean Aylmer: the President's plan to get the island, according to The 67 00:03:50,920 --> 00:03:54,440 Sean Aylmer: New York Times, but now there's been a change in plans, 68 00:03:54,560 --> 00:03:58,760 Sean Aylmer: with the VP going himself on x. Vance said he 69 00:03:58,840 --> 00:04:01,360 Sean Aylmer: would and I quote just check out what's going on 70 00:04:01,480 --> 00:04:05,440 Sean Aylmer: with the security there of Greenland, and he also accused 71 00:04:05,560 --> 00:04:09,280 Sean Aylmer: Denmark of ignoring the island, which he said was bad 72 00:04:09,360 --> 00:04:12,120 Sean Aylmer: for the security of the entire world. That's it for 73 00:04:12,160 --> 00:04:14,560 Sean Aylmer: the Afternoon Report for Wednesday, the twenty sixth of March 74 00:04:14,600 --> 00:04:16,960 Sean Aylmer: twenty twenty five. Make sure you hit follow on the podcast. 75 00:04:17,160 --> 00:04:19,200 Sean Aylmer: We will be back tomorrow morning with the Thursday edition 76 00:04:19,240 --> 00:04:22,240 Sean Aylmer: of Fear and Greed Business News. I'm Sean Elmer. Enjoy 77 00:04:22,279 --> 00:04:22,719 Sean Aylmer: your evening.