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

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Speaker 1: for Monday eighty third of February twenty twenty five. I'm

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

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Speaker 1: happen today that you need to know about. Stratum one

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Speaker 1: there's in PIX. Two hundred fell by nearly two percent

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Speaker 1: today to finished eighty three hundred and seventy nine points.

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Speaker 1: Australia was the first major economy to trade after the

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Speaker 1: tariff announcement over the weekend from Donald Trump. Basically, he's

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Speaker 1: put twenty five percent tariffs on Mexican goods, on Canadian

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Speaker 1: goods except for oil and energy, and an extra ten

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Speaker 1: percent on Chinese goods. Now, there are fears that a

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Speaker 1: global trade war will hit economic growth and cause inflation,

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Speaker 1: and that hurts earnings. All eleven of the ax's sub

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Speaker 1: indices fell today. There was little escaping, with consumer discretionary, healthcare,

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Speaker 1: financials and materials, real estate and industrials all falling around

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Speaker 1: two percent. Only ten percent of the top two hundred

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Speaker 1: higher today. Worst among the large caps National Australia Bank,

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Speaker 1: Fort Schuel, Medals Group, Aristocrat, Leisure, Rio, Tinto, Weistet Global,

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Speaker 1: ariaqbe Promedicus. The list goes on shout out to Telstra

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Speaker 1: though it's the only top forty stock that didn't lose

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Speaker 1: ground today. A couple of big murders, healthcare group Fisher

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Speaker 1: and Paykel was down seven and a half percent after

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Speaker 1: it came out and said the tariffs would increase its

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Speaker 1: costs because it's got factories in Mexico. And retailer Setai

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Speaker 1: was down eighteen percent. Its sources of goods in Mexico,

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Speaker 1: in Canada, in China the trifecta, so some sales for

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Speaker 1: that real tailor or a problematic. Its share price fell.

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Speaker 1: Story number two. The government is hopeful that Australia's trade

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Speaker 1: surplus with the US will prevent the Trump administration from

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Speaker 1: imposing tariff's on local goods. Foreign Minister Penny Wong so

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Speaker 1: the surplus puts Australia in a strong position to navigate

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Speaker 1: changing global markets. She said, Donald Trump wants to do

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Speaker 1: things differently, and Australia has to navigate the new world

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Speaker 1: confidently and with our eye open. Australia and the United

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Speaker 1: States has a free trade agreement that means very few tariffs.

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Speaker 1: In fact, no tariffs on almost everything about ninety seven

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Speaker 1: percent of things we sell to the US. Financial services,

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Speaker 1: gold sheep and goat meat vaccines we buy from the

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Speaker 1: US financial services and travel computers, it services, cars, trucks

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Speaker 1: that type of stuff. About twelve thousand Austraian companies sell

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Speaker 1: in to the US. Some of the big ones include Woodside, Westfield, Brambles,

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Speaker 1: at Lassian, Walley, Visa and Rio Tinto. How they emerge

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Speaker 1: from this global trade war is anyone's guess, but Penny

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Speaker 1: Wong is hoping that Australians won't be hit too hard.

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Speaker 1: Story number three. Senior ABC figures, including then chair Eider Buttros,

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Speaker 1: discussed removing a journalist from her casual radio slot after

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Speaker 1: flagging that they were sick of getting complaints about her

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Speaker 1: anti Israeli views. The ABC hired Antonette Latouf to fill

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Speaker 1: a five day time slot on the Morning Show on

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Speaker 1: ABC Radio Sydney in December twenty twenty three. She lasted

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Speaker 1: three days before being let go after a large number

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Speaker 1: of complaints were sent to the ABC regarding past comments

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Speaker 1: she had made about the conflict in Gaza. The Tooth

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Speaker 1: has sued the ABC in the federal court over her dismissal.

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Speaker 1: Her barrister Oshafigea told her hearing today that Butto's then

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Speaker 1: ABC Managing director David Anderson and Chief Content Officer Chris

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Speaker 1: Oliver Taylor discussed how to get rid of her after

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Speaker 1: a concerted campaign from a pro Israel lobbying group. Anderson

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Speaker 1: said the toof should take a managed exit at the

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Speaker 1: end of the five day shift, agreeing with Oliver Taylor's

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Speaker 1: opinion there'd be a phenomenal blowback if she was fired.

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Speaker 1: Latouf was dismissed that same day after reposting without comment

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Speaker 1: an Instagram post from Human Rights Watch about starvation and

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Speaker 1: gaza being used by the Israeli government as a tool

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Speaker 1: of warm before building approval and retail trade figures we're

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Speaker 1: out today. We know the government was to build two

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Speaker 1: hundred and forty thousand homes a year for the next

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Speaker 1: five years. Well, we have a long way to go.

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Speaker 1: We're running at about a one hundred and thirty eight

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Speaker 1: thousand a year pace. The good news, I suppose, is

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Speaker 1: that's four percent higher than a year ago. Building approvals

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Speaker 1: have certainly trended higher now. Slower inflation has helped the sector,

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Speaker 1: but demand is still outstripping supply. Apartments are relatively low

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Speaker 1: in the total number of building approvals. Apartments obviously house

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Speaker 1: a lot of people in a small space. Completion times

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Speaker 1: the new buildings is still behind the pre pandemic pace.

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Speaker 1: The lack of supply remains a problem for the government.

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Speaker 1: It's also a good argument why house prices won't for much,

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Speaker 1: if at all. On the retail sales side, December figures

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Speaker 1: were better than expected, solid turnover late last year. Basically

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Speaker 1: and story number five, the US has told Panama that

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Speaker 1: the Central American nation must reduce Chinese influence over the

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Speaker 1: Panama Canal or face potential retaliation from the Trump administration.

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Speaker 1: US Secretary of State Marque Rubio, in his first foreign

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Speaker 1: trip as America's top dip, spoke to Panamanian President Jose

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Speaker 1: Raoul Milino. After the meeting, mister Moleno said Rubio had

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Speaker 1: not threatened to retake the Panama Canal or use of force.

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Speaker 1: Mister Rubio told mister Molino that the American president had

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Speaker 1: made a preliminary determination that China's presence in the canal

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Speaker 1: area violates a treaty that led to the US turning

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Speaker 1: the waterway over to Panama in nineteen ninety nine. That's

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Speaker 1: it the Afternoon Report for Monday, the third of February

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Speaker 1: twenty twenty five. Make sure you hit the follow on

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

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Speaker 1: edition of the Fast five Business News by Pier and Greed.

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Speaker 1: I'm Sean ae elma. I'm enjoy your reven