1 00:00:04,080 --> 00:00:07,320 Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Thursday, 2 00:00:07,360 --> 00:00:10,240 Speaker 1: the thirty first of July twenty twenty five. I'm sure, alma, 3 00:00:10,400 --> 00:00:12,840 Speaker 1: every afternoon we've got the five stories that happened today 4 00:00:12,880 --> 00:00:14,920 Speaker 1: that you need to know about. Story number one. The 5 00:00:15,000 --> 00:00:18,000 Speaker 1: SMPASX two hundred closed down just to touch today to 6 00:00:18,079 --> 00:00:21,400 Speaker 1: eighty seven hundred and forty three points. The surge in 7 00:00:21,760 --> 00:00:24,960 Speaker 1: US text docs thanks to very good results from Meta 8 00:00:25,000 --> 00:00:28,840 Speaker 1: and Microsoft, helped the local sector worst performers with the 9 00:00:28,840 --> 00:00:31,440 Speaker 1: big miners with BAHP down almost two and a half percent. 10 00:00:31,480 --> 00:00:33,720 Speaker 1: The banks were high, the retailers were mixed, and Telstra 11 00:00:33,960 --> 00:00:36,680 Speaker 1: was lower. Fair bit of corporate news around at the moment. 12 00:00:36,680 --> 00:00:40,360 Speaker 1: Flight Center fell nearly seven percent after it downgraded its 13 00:00:40,360 --> 00:00:43,479 Speaker 1: pre tax profit forecast for the last financial year. It 14 00:00:43,560 --> 00:00:47,479 Speaker 1: blamed growing Middle East tensions, difficult trouble conditions in the US, 15 00:00:47,760 --> 00:00:51,680 Speaker 1: and extra costs in Asia. Michael Hill International, the jeweler, 16 00:00:51,800 --> 00:00:56,600 Speaker 1: reported flat annual sales and steady earnings. Agell Energy rose 17 00:00:56,640 --> 00:00:58,600 Speaker 1: after it said it would begin construction of a five 18 00:00:58,680 --> 00:01:02,960 Speaker 1: hundred megawa four hours duration grid scale battery later this year. 19 00:01:03,400 --> 00:01:07,080 Speaker 1: Origin Energy said it expects LNG production in the region 20 00:01:07,120 --> 00:01:09,759 Speaker 1: to be lower than forecasts. Beach Energy tumble nine percent 21 00:01:10,280 --> 00:01:14,959 Speaker 1: after it downgraded its profit forecast, and scrap group sim 22 00:01:15,040 --> 00:01:18,440 Speaker 1: signed an agreement to splay five hundred and fifty thousand 23 00:01:18,560 --> 00:01:22,679 Speaker 1: tons that's a lot of scrap metal to a proposed 24 00:01:22,800 --> 00:01:26,240 Speaker 1: mill to be built by privately owned company in industrial Brisbane. 25 00:01:26,400 --> 00:01:29,520 Speaker 1: Story number two. Australia is undergrowing pressure to recognize a 26 00:01:29,600 --> 00:01:33,480 Speaker 1: Palestinian state at the UN General Assembly next month, after 27 00:01:33,520 --> 00:01:36,360 Speaker 1: Canada joined France and Britain in saying it would do 28 00:01:36,440 --> 00:01:39,319 Speaker 1: say Prime Minister Anthony Albanez, he spoke with UK Prime 29 00:01:39,360 --> 00:01:43,840 Speaker 1: Minister Keir Starmer about the importance of international momentum on 30 00:01:43,920 --> 00:01:47,360 Speaker 1: the Israel Gaza war and phone call overnight. It's the 31 00:01:47,480 --> 00:01:50,040 Speaker 1: second conversation between the two pair, and two days after 32 00:01:50,040 --> 00:01:53,000 Speaker 1: the UK said it would recognize a state of Palestine 33 00:01:53,280 --> 00:01:56,760 Speaker 1: unless Israel met key conditions. Treasurer Jim Chalmers later in 34 00:01:56,800 --> 00:02:01,040 Speaker 1: the day said he welcomes the momentum on Palestinian statehood. Meanwhile, 35 00:02:01,120 --> 00:02:04,560 Speaker 1: Labour's sixteen billion dollar student debt cut past the Senate, 36 00:02:05,000 --> 00:02:07,320 Speaker 1: marking the first bill to become law in the new 37 00:02:07,400 --> 00:02:10,200 Speaker 1: term of parliament. Straight number three. Rio Tintoel has cut 38 00:02:10,240 --> 00:02:12,960 Speaker 1: its dividend after announcing a seventeen percent full the net 39 00:02:13,040 --> 00:02:16,480 Speaker 1: profit to just under five billion US dollars for the 40 00:02:16,480 --> 00:02:19,080 Speaker 1: first half of twenty twenty five. However, the group says 41 00:02:19,080 --> 00:02:21,640 Speaker 1: it would deliver mid term production growth amid a lower 42 00:02:21,680 --> 00:02:25,000 Speaker 1: iron ore prices. The result and the sixteen percent drop 43 00:02:25,120 --> 00:02:28,880 Speaker 1: in dividend largely reflects lower iron ore prices. Its copper 44 00:02:28,880 --> 00:02:32,320 Speaker 1: and aluminium business has made greater contributions to the bottom line. 45 00:02:32,480 --> 00:02:35,640 Speaker 1: Outgoing boss at yakubstous Home, whose tenure is cut short 46 00:02:35,639 --> 00:02:39,560 Speaker 1: by his board, issued a plea for competitive energy pricing. 47 00:02:39,800 --> 00:02:42,480 Speaker 1: REO share price closed down three percent straighttum of four 48 00:02:42,520 --> 00:02:44,760 Speaker 1: local companies have been caught up in a decision by 49 00:02:44,760 --> 00:02:48,519 Speaker 1: Donald Trump to suspend the duty free threshold for low 50 00:02:48,600 --> 00:02:51,959 Speaker 1: value of goods entering the US, with online retailers hit hard. 51 00:02:52,360 --> 00:02:55,480 Speaker 1: A Donald Trump executive order means that shipments worth under 52 00:02:55,520 --> 00:02:59,359 Speaker 1: eight hundred US dollars that's about twelve hundred Ozzie will 53 00:02:59,360 --> 00:03:03,040 Speaker 1: be subject duties on importation to the United States, regardless 54 00:03:03,280 --> 00:03:07,480 Speaker 1: of where they're manufactured. Our previous rules only put imposts 55 00:03:07,600 --> 00:03:11,440 Speaker 1: on products from four countries that spread to all countries 56 00:03:11,480 --> 00:03:14,720 Speaker 1: including Australia, The US accounts for about forty percent of 57 00:03:14,800 --> 00:03:19,160 Speaker 1: local online retailer satires revenues. The announcement sent its share 58 00:03:19,200 --> 00:03:22,679 Speaker 1: price down twenty three percent today and story number five. 59 00:03:22,720 --> 00:03:25,240 Speaker 1: There's been a frantic rush to sign trade deals with 60 00:03:25,280 --> 00:03:29,680 Speaker 1: the US ahead of tomorrow's deadline, with delegations from Canada 61 00:03:29,680 --> 00:03:32,400 Speaker 1: and Mexico hoping for a last minute agreement. As the 62 00:03:32,440 --> 00:03:36,600 Speaker 1: deadline nearest, Trump signaled late progress with key training partners. 63 00:03:36,640 --> 00:03:39,400 Speaker 1: He also announced to deal with South Korea, saying he 64 00:03:39,440 --> 00:03:43,080 Speaker 1: would hold last minute talks with India as well. Just 65 00:03:43,280 --> 00:03:46,880 Speaker 1: hours after he announced twenty five percent tariff with India. 66 00:03:46,920 --> 00:03:49,920 Speaker 1: Who knows. Trump warned other training partners he would not 67 00:03:49,960 --> 00:03:53,200 Speaker 1: back away from the sweeping being tariff regime. He's threatened 68 00:03:53,200 --> 00:03:56,440 Speaker 1: on countries that do not reach an agreement by his deadline. 69 00:03:56,520 --> 00:04:00,000 Speaker 1: I quote him, the August first deadline is the Augus 70 00:04:00,320 --> 00:04:03,520 Speaker 1: first deadline. It stands strong and will not be extended. 71 00:04:03,800 --> 00:04:06,360 Speaker 1: A big day for America. Australia is expected to be 72 00:04:06,440 --> 00:04:09,160 Speaker 1: hit with a fifteen to twenty percent tariff. That's it 73 00:04:09,200 --> 00:04:11,600 Speaker 1: for Outhternon Report for Thursday, the thirty first of July 74 00:04:11,720 --> 00:04:13,560 Speaker 1: twenty twenty five. Make sure you hit follow on the 75 00:04:13,600 --> 00:04:16,040 Speaker 1: podcast we will be back tomorrow morning with a Friday 76 00:04:16,120 --> 00:04:18,640 Speaker 1: edition of the past five business news five here and Greek. 77 00:04:18,880 --> 00:04:20,960 Speaker 1: I'm chanelma enjoy your evening.