1 00:00:03,560 --> 00:00:06,000 Speaker 1: Welcome to the Fear and Greed Business Years. Afternoon Report 2 00:00:06,040 --> 00:00:08,639 Speaker 1: for Wednesday, the eighteenth of June twenty twenty five. I'm 3 00:00:08,680 --> 00:00:11,520 Speaker 1: Sean Almer. Every afternoon, We've got the five stories that 4 00:00:11,560 --> 00:00:13,760 Speaker 1: have happened today that you need to know about. Storytam one. 5 00:00:13,760 --> 00:00:16,800 Speaker 1: The SMPA SX two hundred close down slightly today to 6 00:00:16,920 --> 00:00:18,880 Speaker 1: eight thousand, five hundred and thirty two points. But it's 7 00:00:18,880 --> 00:00:20,599 Speaker 1: like I've been saying that for about a week. It 8 00:00:20,720 --> 00:00:23,520 Speaker 1: traded in a narrow range. He closed today was the 9 00:00:23,560 --> 00:00:25,520 Speaker 1: lowest in two weeks, best in the day, with the Tech, 10 00:00:25,560 --> 00:00:30,560 Speaker 1: Healthcare and Energy indices worst worthy Materials and utilities indices. 11 00:00:30,800 --> 00:00:34,400 Speaker 1: The big banks were mixed, as with the big retailers CSL, 12 00:00:34,440 --> 00:00:36,960 Speaker 1: Aristocrat Leisure and Weis Tech Global were up more than 13 00:00:36,960 --> 00:00:39,800 Speaker 1: one percent, while the big miners were lower. Story number two. 14 00:00:39,840 --> 00:00:43,559 Speaker 1: Prime Minister Anthony Albernizi says he has presented Australia's position 15 00:00:43,680 --> 00:00:48,080 Speaker 1: on tariffs to US Treasury Secondary Scott Bessant. The Trump 16 00:00:48,159 --> 00:00:51,120 Speaker 1: meaning that was supposed to happen didn't happen overnight. Instead, 17 00:00:51,120 --> 00:00:53,880 Speaker 1: the Prime Minister spoke to the White House's economics team. 18 00:00:54,040 --> 00:00:56,880 Speaker 1: Alberanizi said he discussed how Australia can support the US 19 00:00:56,880 --> 00:00:59,600 Speaker 1: on critical minerals as well as taris. He also met 20 00:00:59,640 --> 00:01:03,720 Speaker 1: with the lead Japan, India, France and Germany. Straight number three, 21 00:01:03,800 --> 00:01:08,880 Speaker 1: the High Court has rejected ousted CFMEU officials challenge till 22 00:01:08,920 --> 00:01:12,600 Speaker 1: the alban Easy government's laws to force the Union into administration. 23 00:01:13,200 --> 00:01:16,959 Speaker 1: After six months of deliberation, the Court dismissed all grounds 24 00:01:17,000 --> 00:01:20,919 Speaker 1: of the constitutional challenge, including that the administration laws breached 25 00:01:20,920 --> 00:01:24,839 Speaker 1: the separation of powers. The implied freedom of political communication 26 00:01:25,360 --> 00:01:27,880 Speaker 1: did not have a sufficient connection to a Commonwealth power 27 00:01:28,240 --> 00:01:32,440 Speaker 1: and amounted to taking Union property without just terms compensation. 28 00:01:32,800 --> 00:01:35,040 Speaker 1: According to the fen Review, the decision is expected to 29 00:01:35,080 --> 00:01:38,920 Speaker 1: open the way for the CFMEU administrator to take strong action, 30 00:01:39,040 --> 00:01:43,319 Speaker 1: including dismissing organizers loyal to the old regime, and boost 31 00:01:43,319 --> 00:01:45,800 Speaker 1: the confidence of the building industry to reveal corruption and 32 00:01:45,840 --> 00:01:50,520 Speaker 1: misconduct allegations. Workplace Relations Minister Amanda Rishworth welcomed the High 33 00:01:50,560 --> 00:01:53,840 Speaker 1: Court decision, saying it gives the administrator the confidence to 34 00:01:53,880 --> 00:01:56,600 Speaker 1: clean out the industry. Straight number four Hopes that the 35 00:01:56,640 --> 00:01:59,280 Speaker 1: administrators of Regional Express are close to a sale of 36 00:01:59,280 --> 00:02:02,240 Speaker 1: the struggling carrier have been dashed after The government says 37 00:02:02,240 --> 00:02:05,639 Speaker 1: it will continue to support REX for another six months. 38 00:02:05,800 --> 00:02:08,720 Speaker 1: Transport Minister Catherine King said the sale of Rex is 39 00:02:08,760 --> 00:02:12,440 Speaker 1: progressing positively, but administrators need another six months. The government 40 00:02:12,480 --> 00:02:14,920 Speaker 1: will provide a further thirty million dollars in support. That 41 00:02:15,040 --> 00:02:17,919 Speaker 1: means it's coughed up one hundred and sixty million dollars 42 00:02:18,120 --> 00:02:20,679 Speaker 1: so far. Now, it's provided an eighty million dollar loan, 43 00:02:21,120 --> 00:02:24,080 Speaker 1: It's bought fifty million dollars worth of debt from major 44 00:02:24,120 --> 00:02:26,960 Speaker 1: creditor PAG Capital. That's one hundred and thirty plus this 45 00:02:27,120 --> 00:02:29,480 Speaker 1: other one hundred and thirty as King confirmed that the 46 00:02:29,480 --> 00:02:32,800 Speaker 1: bidding field had narrowed and an extension on the eleven 47 00:02:32,880 --> 00:02:36,120 Speaker 1: month old administration will allow time to secure a market 48 00:02:36,280 --> 00:02:39,519 Speaker 1: led solution. According to The Australian, Finally story number five, 49 00:02:39,720 --> 00:02:43,640 Speaker 1: Israeli airstrikes targeted Iran's capital, Tehran over the past thirty 50 00:02:43,639 --> 00:02:46,840 Speaker 1: six hours, pushing the death toll in the country towards 51 00:02:46,919 --> 00:02:49,880 Speaker 1: six hundred. It came as US President Donald Trump called 52 00:02:49,919 --> 00:02:53,280 Speaker 1: for Iran's unconditional surrender. He also said the US is 53 00:02:53,280 --> 00:02:58,240 Speaker 1: considering joining israel strikes targeting Iran's underground nuclear sites. Iran 54 00:02:58,320 --> 00:03:03,040 Speaker 1: Supreme leader totally Ali Kamani has responded saying Iran will 55 00:03:03,040 --> 00:03:06,600 Speaker 1: never compromise now. Washington based group Human Rights Activists said 56 00:03:06,680 --> 00:03:09,160 Speaker 1: Israeli strikes had killed at least five hundred and eighty 57 00:03:09,160 --> 00:03:12,320 Speaker 1: five people and wounded thirteen twenty six in the war 58 00:03:12,400 --> 00:03:15,240 Speaker 1: so far. The conflict between Israel and Iran is spilling 59 00:03:15,360 --> 00:03:18,280 Speaker 1: into the digital world as well. A pro Israel hacking 60 00:03:18,320 --> 00:03:21,840 Speaker 1: group has claimed responsibility for a disruptive cyber attack against 61 00:03:21,840 --> 00:03:26,000 Speaker 1: a major Iranian bank, and the state run IrIV News 62 00:03:26,040 --> 00:03:29,079 Speaker 1: reported that Israel had launched a full scale cyber attack 63 00:03:29,440 --> 00:03:32,600 Speaker 1: on Iran's critical infrastructure. That's it for the afternoon report 64 00:03:32,600 --> 00:03:35,360 Speaker 1: for Wednesday, the eighteenth of June twenty twenty five. Make 65 00:03:35,400 --> 00:03:36,920 Speaker 1: sure you hit follow on the podcast. We will be 66 00:03:36,960 --> 00:03:39,320 Speaker 1: back tomorrow morning. We sti Thursday edition A few and 67 00:03:39,320 --> 00:03:41,920 Speaker 1: great business news. I'm sure Elma enjoy your evening.