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Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Wednesday,

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Speaker 1: the sixth of August twenty twenty five. I'm suan Aylmer.

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Speaker 1: Every afternoon, we've got the five stories that happened today

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Speaker 1: that you need to know about. Straight Number one, the

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Speaker 1: SMPASX two hundred finished up nearly one percent today to

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Speaker 1: eighty eight hundred and forty four points. That is an

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Speaker 1: all time high. Confidence in local economic growth and hopes

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Speaker 1: of rate cuts are pushing the boss along. All the

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Speaker 1: big banks did well today, as did the tech stocks.

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Speaker 1: Best were interest rates sensitive companies like Wes Farmers and

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Speaker 1: Goodman Group. Fores Kew Medals was also higher, as were

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Speaker 1: Woodside QB and Promedicus. Among the large caps, Telstra, Woollies

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Speaker 1: and Transurban. All defensive stocks were among the underperformers. Story

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Speaker 1: number two. Online property group Aria and Dow Jones drove

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Speaker 1: higher revenue and earnings for news Corp for the June

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Speaker 1: half year, sending its share price up six percent. Pretax

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Speaker 1: earnings jumped fourteen percent to one point four billion US

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Speaker 1: dollars for news Corp. NewsCorp holds a controlling interest in Aria,

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Speaker 1: which owns the real estate dot com dot, a U

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Speaker 1: property portal. It also owns Dow Jones, book publisher Harper

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Speaker 1: Collins and news outlets including The Australian, The Sun and

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Speaker 1: The Times in the United Kingdom and The New York

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Speaker 1: Post in the US. Earlier in the year, it sold

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Speaker 1: its take in Foxtel to global sports streaming service Dans.

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Speaker 1: Earnings were down at both half of Collins and its

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Speaker 1: news divisions, offset by double digit rises in Dow Jones

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Speaker 1: and Aria. Story number three. Treasure Jim Chalmers has said

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Speaker 1: he would be shocked if housing reform isn't a big

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Speaker 1: part of the government's upcoming productivity roundtable. He said there's

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Speaker 1: a lot of goodwill and a lot of commitment and

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Speaker 1: tens of billions of dollars are flowing into that sector dot.

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Speaker 1: Chalmers also said Prime Minister Anthony Albernizi's call with French

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Speaker 1: President Emanuel mccron overnight was an important part in Australia's

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Speaker 1: recognition of a Palestinian state. Story number four in Corporate News.

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Speaker 1: Lindian Resources jumped nearly forty percent today after it entered

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Speaker 1: into a deal with hi Luka for the long term

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Speaker 1: supply of rare Earth's concentrate. Pinnacle Investment Management rallied nearly

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Speaker 1: ten percent after the five point two billion dollar investment

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Speaker 1: firm reported a forty nine percent jump in full un

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Speaker 1: net profit. And the Supreme Court of New South Wales

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Speaker 1: has approved the takeover of domain by US based co

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Speaker 1: staff RAS. Scheme of arrangement trading in domain chairs will

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Speaker 1: be suspended the close of play tomorrow. Finally, story number five,

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Speaker 1: US trade tariffs on pharmaceutical and semiconductor inputs are set

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Speaker 1: to be announced within the week or so. According to

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Speaker 1: President Donald Trump. Trump said the US would initially place

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Speaker 1: a small tariff on pharmaceutical inputs before raising further. I

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Speaker 1: quote him, in one year, one and a half years,

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Speaker 1: maximum it's going to be one hundred and fifty percent,

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Speaker 1: and then it's going to be two hundred and fifty percent,

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Speaker 1: because we want pharmaceuticals made in our country. Quote. Nearly

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Speaker 1: nine percent of US by our tech companies rely on

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Speaker 1: imported components for at least half of their approved products.

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Speaker 1: According to the Biotechnology in AVA Organization, Australia exports more

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Speaker 1: than two billion dollars worth of pharmaceuticals years to the US. Now,

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Speaker 1: Australian steel, aluminium and copper producers continue to face industry

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Speaker 1: specific tariffs up to fifty percent under the Trump government.

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Speaker 1: Looks like farmer could get caught up under that as well.

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Speaker 1: That's it for the afternoon Report for Wednesday, the sixth

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Speaker 1: of August twenty twenty five. Make sure you hit follow

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Speaker 1: on the podcast. We'll be back tomorrow morning with the

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Speaker 1: Thursday edition of the Fast five Business News by Fear

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Speaker 1: and Greek. I'm sure I elma enjoy your eving