1
00:00:03,120 --> 00:00:05,720
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:05,720 --> 00:00:08,680
Speaker 1: for Wednesday, the twenty sixth of March twenty twenty five.

3
00:00:08,720 --> 00:00:11,680
Speaker 1: I'm suan Alma. Every afternoon, We've got the five stories

4
00:00:11,680 --> 00:00:13,960
Speaker 1: that happened today that you need to know about. Sorry.

5
00:00:14,040 --> 00:00:16,360
Speaker 1: Number one inflation figures for the month of February were

6
00:00:16,400 --> 00:00:19,920
Speaker 1: released today. In the all important underlying reading, the month

7
00:00:20,120 --> 00:00:22,759
Speaker 1: was two point seven percent, well within the reserve banks

8
00:00:22,760 --> 00:00:26,079
Speaker 1: two to three percent target range. That helped investors, with

9
00:00:26,160 --> 00:00:29,080
Speaker 1: the s ANDPA SX two hundred finishing up zero point

10
00:00:29,160 --> 00:00:33,120
Speaker 1: seven percent to seven nine hundred and ninety nine points.

11
00:00:33,240 --> 00:00:35,720
Speaker 1: Mind you, during the session it did push above eight

12
00:00:35,720 --> 00:00:38,120
Speaker 1: thousand points for the first time in a fortnight or so.

13
00:00:38,440 --> 00:00:41,360
Speaker 1: The banks did particularly well. Aane ZB was up three percent,

14
00:00:41,560 --> 00:00:44,920
Speaker 1: so to the miners and the energy companies. Retailers also

15
00:00:45,000 --> 00:00:48,600
Speaker 1: did well, while the healthcare sector underperformed. In corporate news,

16
00:00:48,640 --> 00:00:52,680
Speaker 1: Vulcan Energy jumped twelve percent after the European Commission recognized

17
00:00:52,720 --> 00:00:56,400
Speaker 1: its Lion Heart lithium project as crucial to securing the

18
00:00:56,440 --> 00:01:00,960
Speaker 1: continent's critical mineral supply chain, and Paladin Energy tumble twelve

19
00:01:01,000 --> 00:01:04,640
Speaker 1: percent after retracting its twenty twenty five production guidance due

20
00:01:04,640 --> 00:01:09,760
Speaker 1: to unseasonably heavy rainfall disrupting its Namibia Lange Heinrich mine

21
00:01:10,080 --> 00:01:13,679
Speaker 1: Stroy number two. The fallout from last night's budget continues.

22
00:01:14,040 --> 00:01:16,880
Speaker 1: Question Time today in Palam is very much focused on

23
00:01:16,920 --> 00:01:20,440
Speaker 1: the country's finances. The debate was around task cuts, work

24
00:01:20,480 --> 00:01:24,360
Speaker 1: from home, instant asset right off legislation, all types of things.

25
00:01:24,640 --> 00:01:27,119
Speaker 1: This is the last week of parliament ahead of the election.

26
00:01:27,520 --> 00:01:31,679
Speaker 1: In the Senate, Green's Senator Sarah Hanson Young wielded a

27
00:01:31,760 --> 00:01:36,039
Speaker 1: large fish protesting what she calls a gutting of environmental

28
00:01:36,120 --> 00:01:40,440
Speaker 1: laws by the Albanesi government. Meanwhile, the Prime Minister flag

29
00:01:40,480 --> 00:01:43,440
Speaker 1: further election announcements to help trades and blue collar workers

30
00:01:43,560 --> 00:01:46,760
Speaker 1: during the election campaign, which we expect to be announced

31
00:01:46,840 --> 00:01:49,960
Speaker 1: over the next few days. Sorry Number three, seal makers

32
00:01:50,200 --> 00:01:53,120
Speaker 1: need coal to burn in their blast furnaces, and administrators

33
00:01:53,120 --> 00:01:56,200
Speaker 1: of Whyala Steel Works have scrambled to buy cocin coal

34
00:01:56,480 --> 00:02:00,520
Speaker 1: from competitive Bluescope as well as China and Indonesia after

35
00:02:00,560 --> 00:02:03,640
Speaker 1: finding they had just three days of supplier left. They

36
00:02:03,640 --> 00:02:06,600
Speaker 1: spent sixty million dollars buying up coal after previous owner

37
00:02:06,680 --> 00:02:11,760
Speaker 1: Sanji Gupta ran down stockpiles. So when Administrator's Quadamenta arrived.

38
00:02:12,080 --> 00:02:15,560
Speaker 1: There are only three days of supply. Yesterday. Cordamenta called

39
00:02:15,600 --> 00:02:20,239
Speaker 1: it an unexpected cost. Quartermantha said Bluescope is among twelve

40
00:02:20,280 --> 00:02:23,200
Speaker 1: parties interested in acquiring the steel Works. The steel Works

41
00:02:23,240 --> 00:02:25,800
Speaker 1: was fourth into administration by the South Australian government in

42
00:02:25,800 --> 00:02:28,680
Speaker 1: mid February. I mean one point three five billion dollars

43
00:02:29,120 --> 00:02:33,560
Speaker 1: straight number four bottle shops, First Choice and Vitage Sellers

44
00:02:33,919 --> 00:02:36,960
Speaker 1: will be rebranded. In fact, they're going to become liquor

45
00:02:37,000 --> 00:02:39,359
Speaker 1: Lands as part of owner coals As efforts to take

46
00:02:39,360 --> 00:02:43,000
Speaker 1: on Dan Murphy's Endeavor owns Dan Murphy's it used to

47
00:02:43,000 --> 00:02:45,320
Speaker 1: be owned by Woolies Dance has been the market leader

48
00:02:45,360 --> 00:02:47,320
Speaker 1: for a long time, and as part of Coal's efforts

49
00:02:47,360 --> 00:02:50,600
Speaker 1: to gain some ground, all nine hundred and eighty four

50
00:02:50,680 --> 00:02:54,880
Speaker 1: of its liquor stores will become liquor Land. Coles wants

51
00:02:54,880 --> 00:02:57,680
Speaker 1: to build a national brand and will reinvigorate its price

52
00:02:57,919 --> 00:03:01,960
Speaker 1: matching campaigns starting next month rollout, we'll see all Coal's

53
00:03:02,040 --> 00:03:07,120
Speaker 1: liquor stores unified under three banners Lickorland, Lickorland Sellers and

54
00:03:07,240 --> 00:03:11,360
Speaker 1: Lickorland Warehouse. The program will increase Lickorland's footprint by twenty

55
00:03:11,360 --> 00:03:13,600
Speaker 1: five percent, with many of the stores located near or

56
00:03:13,639 --> 00:03:16,760
Speaker 1: adjacent to a coal supermarket and final astor at number five.

57
00:03:16,880 --> 00:03:20,080
Speaker 1: US Vice President JD. Vance is heading to Greenland this week,

58
00:03:20,560 --> 00:03:23,680
Speaker 1: taking over a controversial visit that officials in Greenland have

59
00:03:23,760 --> 00:03:26,720
Speaker 1: made very clear that they don't want at all. This week,

60
00:03:26,760 --> 00:03:30,200
Speaker 1: the Trump administration said that Usher Vans, the Second Lady,

61
00:03:30,440 --> 00:03:33,280
Speaker 1: and Michael Walltz, the National Security Advisor, we're traveling to

62
00:03:33,320 --> 00:03:37,240
Speaker 1: Greenland to promote ties with the semi autonomous territory of

63
00:03:37,360 --> 00:03:40,440
Speaker 1: Denmark that President Donald Trump wants for the United States.

64
00:03:40,760 --> 00:03:43,800
Speaker 1: Officials from Denmark and Greenland immediately branded the trip as

65
00:03:43,920 --> 00:03:47,440
Speaker 1: aggressive and part of the President's plan to get the island,

66
00:03:47,480 --> 00:03:49,840
Speaker 1: according to The New York Times, but now there's been

67
00:03:49,880 --> 00:03:54,760
Speaker 1: a change in plans, with the VP going himself on x.

68
00:03:55,000 --> 00:03:57,840
Speaker 1: Vance said he would and I quote just check out

69
00:03:57,880 --> 00:04:01,600
Speaker 1: what's going on with the security there off Greenland, and

70
00:04:01,640 --> 00:04:05,040
Speaker 1: he also accused Denmark of ignoring the island, which he

71
00:04:05,120 --> 00:04:08,400
Speaker 1: said was bad for the security of the entire world

72
00:04:08,800 --> 00:04:10,960
Speaker 1: as it For the Afternoon Report for Wednesday, the twenty

73
00:04:10,960 --> 00:04:12,880
Speaker 1: sixth of March twenty twenty five, make sure you hit

74
00:04:12,880 --> 00:04:14,600
Speaker 1: follow on the podcast, we'll be back to my own

75
00:04:14,600 --> 00:04:16,719
Speaker 1: morning with the first day edition of the Fast five

76
00:04:16,760 --> 00:04:20,640
Speaker 1: business news by Fear and Greed. I'm Shanelma. Enjoy your evening.