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

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Speaker 1: for Monday, the third of June twenty twenty four. I'm

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

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Speaker 1: happened today that you need to know about. A story

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Speaker 1: and on one. Was a good day for the market,

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Speaker 1: with the SMPA six two hundred closing up zero point

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Speaker 1: eight percent seven seven hundred and sixty one points. Financials,

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Speaker 1: utilities and property stocks did best, while the tech and

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Speaker 1: telco indices went backwards. It was a day for the banks,

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Speaker 1: with Westpac closing up more than two percent, while Commonwealth Bank,

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Speaker 1: National Australia Bank and A and Z ed all jump

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Speaker 1: more than one percent. Goodwin Group closed two percent higher,

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Speaker 1: while whilst tech Global was down one and a half percent.

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Speaker 1: The big miners were mixed, while the insurers did well.

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Speaker 1: QBE finished up two point three percent, IAG rose one

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Speaker 1: point five percent and Sun Corp was one percent higher.

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Speaker 1: In corporate news, New Zealand Dairy Group sin Lat's share

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Speaker 1: price fell two point three percent after it warned of

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Speaker 1: ongoing week training conditions and the risk it is unlikely

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Speaker 1: to meet three of its current banking covenants at the

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Speaker 1: end of Nay next month, and APM Human Services closed

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Speaker 1: up ten percent after a deal to be bought by

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Speaker 1: Chicago's and Madison Dearborn Partners sum two. OPEK plus members

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Speaker 1: have agreed to extend cuts in oil production, in some

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Speaker 1: cases to the end of next year as they battle

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Speaker 1: the shore up prices, a midweek global demand and increased

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Speaker 1: supply from other parts of the world. At its latest

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Speaker 1: buy annual meeting, the cartel conceded that it had no

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Speaker 1: room yet to change stands on output cuts that began

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Speaker 1: about eighteen months ago, pledging to keep more than three

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Speaker 1: million barrels a day of crude off the market until

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Speaker 1: the end of next year. What's that mean, Well, it

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Speaker 1: push you up oil prices and that isn't good when

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Speaker 1: you're buying petrol at the bowser. In currency markets, the

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Speaker 1: OSI dollars trading around sixty six and a half few

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Speaker 1: US cents, while cryptocurrencies remain strong, with bitcoin worth about

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Speaker 1: sixty eight thousand US dollars a unit storry at number three.

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Speaker 1: The Super Members Council of Australia is calling for an

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Speaker 1: end to the ban on older Australians receiving contributions into

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Speaker 1: retirement phase super accounts, arguing it panelizes those dipping back

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Speaker 1: into the workforce later in life. The Industry Superlobby Group

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Speaker 1: wants the Federal government to lift the rules that forces

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Speaker 1: working retirees to open a separate accumulation account to receive

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Speaker 1: super contributions. Under the current rules, those working in retirees

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Speaker 1: then pay two sets of account fees, the one from

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Speaker 1: the original stuff and the new account. They're often slugged

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Speaker 1: with more taxes as well. It comes as new research

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Speaker 1: shows one in four Australians continue to work into their

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Speaker 1: early seventies and the retirement of two and a half

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Speaker 1: minute baby boomers is upon us that'll happen over the

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Speaker 1: next decade that'll flood the retiree pool. Many of them

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Speaker 1: will want to work again. The Lobby Group made the

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Speaker 1: call as it announced its new chair and Sherry Ao

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Speaker 1: will take over from intraim share Nicla Roxon. According to

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Speaker 1: a report in The Australian Storing them before, the chief

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Speaker 1: executive of Smiggle has jumped ship and will run fast

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Speaker 1: fashion jewelry chain Levisa. And in the retail world there

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Speaker 1: are some very high profile, very rich players, including Solomon

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Speaker 1: lou who controls Premier Investments, the owner of Smigle and

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Speaker 1: Brett Blundy, the person who launched Levisa, John Cheston, currently

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Speaker 1: at Smiggles. We'll take over at Levisa if fellows Mark McGinnis,

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Speaker 1: who was expected to take the top job at Meyer,

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Speaker 1: another Solomon Leeu company, he opted to work for mister

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Speaker 1: Blundey's empire instead. That's too nil to mister Blundey. As

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Speaker 1: far as I can make it all this is happening

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Speaker 1: as Premier looks to spin off Smiggles and Peter Alexander

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Speaker 1: the pajama brand on the Stock Exchange. To add to

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Speaker 1: the story, the guy leaving Smiggles, Victor Herrero, is the

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Speaker 1: second highest paid CEO on the AX. Shareholders worn't fust

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Speaker 1: and all the changes. Today Levisa closed down eleven percent

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Speaker 1: in Premier finished more than three percent lower. In story

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Speaker 1: number five, Rupert Murdock has married for the fifth time,

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Speaker 1: tying the knot with retired molecular biologist Elena Zakova. The

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Speaker 1: ninety three year old Murdoch married the sixty seven year

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Speaker 1: olds of Coba at his Californian vineyard. Last year, mister

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Speaker 1: Murdoch was briefly engaged to a former police chaplain and

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Speaker 1: prior to that, he was married to former model Jerry

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Speaker 1: Hall for six years. Anyway, good luck to Rupert Urdrock

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Speaker 1: and Elena Zakova. That's it Foir Austeranoon Report for Monday,

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Speaker 1: the third of June twenty twenty four. Michael Thompson and

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Speaker 1: I will be back tomorrow morning with a Tuesday edition

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Speaker 1: off here and Green Business News. I'm Sean Elma. Enjoy

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Speaker 1: your evening