1
00:00:03,680 --> 00:00:06,200
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:06,240 --> 00:00:08,640
Speaker 1: for Tuesday, the tenth of June twenty twenty five. I'm

3
00:00:08,640 --> 00:00:11,520
Speaker 1: Sean Almer. Every afternoon, we've got the five stories that

4
00:00:11,600 --> 00:00:13,680
Speaker 1: happened today that you need to know about. Story number one.

5
00:00:13,760 --> 00:00:16,800
Speaker 1: The SMPASX two hundred finished at a record high today,

6
00:00:16,880 --> 00:00:19,920
Speaker 1: up nearly one percent to eight thousand, five hundred and

7
00:00:19,960 --> 00:00:23,600
Speaker 1: eighty seven point two points. Energy, tech and bank stocks

8
00:00:23,680 --> 00:00:25,880
Speaker 1: led the way on the back of higher oil prices,

9
00:00:25,920 --> 00:00:28,280
Speaker 1: and that reflects hopes about a US China trade deal,

10
00:00:28,720 --> 00:00:32,240
Speaker 1: plus hopes that local interest rates will fall again next month.

11
00:00:32,479 --> 00:00:35,920
Speaker 1: Commonwelf Bank shares hit another record high of one hundred

12
00:00:35,960 --> 00:00:39,000
Speaker 1: and eighty two dollars and twenty five cents. It's up

13
00:00:39,040 --> 00:00:41,120
Speaker 1: about forty five percent over the last year. It closed

14
00:00:41,120 --> 00:00:43,040
Speaker 1: to one hundred and eighty two dollars today, putting its

15
00:00:43,080 --> 00:00:46,080
Speaker 1: market cap at three hundred and five billion dollars. National

16
00:00:46,080 --> 00:00:48,519
Speaker 1: Australian Bank A and Z and Westpac We're also up

17
00:00:48,560 --> 00:00:51,240
Speaker 1: around one percent or more. Other strong performers among the

18
00:00:51,320 --> 00:00:55,200
Speaker 1: large caps included Aria Group, Promedica's Sun corpor Aristocrat Leisure

19
00:00:55,400 --> 00:00:58,400
Speaker 1: and Goodman Group. Best on the Day Clarity Pharmaceuticals, which

20
00:00:58,480 --> 00:01:02,040
Speaker 1: jumped six percent, also did pretty well. Worst performers on

21
00:01:02,080 --> 00:01:05,440
Speaker 1: the boss were the gold miners. Story number two Monash

22
00:01:05,520 --> 00:01:09,360
Speaker 1: IVF Group has reported that it transferred the wrong embryo

23
00:01:09,520 --> 00:01:13,880
Speaker 1: into a Melbourne woman, the second such incident in two months.

24
00:01:14,200 --> 00:01:17,119
Speaker 1: In April, at its Brisbane clinic, the embryo of one

25
00:01:17,160 --> 00:01:20,920
Speaker 1: patient was incorrectly transferred to another patient, resulting in the

26
00:01:20,920 --> 00:01:23,240
Speaker 1: birth of a child with the wrong parent. In the

27
00:01:23,280 --> 00:01:27,480
Speaker 1: most recent incident, monash mistakenly transferred to patient's own embryo

28
00:01:27,959 --> 00:01:30,480
Speaker 1: to her during a process in which she was supposed

29
00:01:30,480 --> 00:01:34,200
Speaker 1: to receive an embryo from her partner. Monash IVF yesterday

30
00:01:34,200 --> 00:01:37,760
Speaker 1: said it's conducting an internal investigation and had extended the

31
00:01:37,800 --> 00:01:40,840
Speaker 1: scope of the independent review already underway, and would provide

32
00:01:40,840 --> 00:01:43,600
Speaker 1: an update on the findings in due course. Now. The

33
00:01:43,640 --> 00:01:47,880
Speaker 1: share price of Monash IVF fell twenty seven percent today,

34
00:01:48,400 --> 00:01:53,120
Speaker 1: meaning it's down about forty five percent this year. Story

35
00:01:53,240 --> 00:01:55,960
Speaker 1: number three shipbuild a Ostel share price jumped and property

36
00:01:56,000 --> 00:01:58,480
Speaker 1: services building group John lind Group and into a trading

37
00:01:58,480 --> 00:02:02,360
Speaker 1: halt on take over. A speculat. In the case of Ostel,

38
00:02:02,800 --> 00:02:06,200
Speaker 1: South Korea's Henwi Group has been given approval by Foreign

39
00:02:06,280 --> 00:02:08,680
Speaker 1: Investment officials in the United States to buy out the

40
00:02:08,840 --> 00:02:13,920
Speaker 1: entirety of Australia's largest shipbuilder. Hostile specializes in defense vessels,

41
00:02:13,919 --> 00:02:16,440
Speaker 1: has a major facility in Alabama and the US. That's

42
00:02:16,440 --> 00:02:19,400
Speaker 1: why US officials are involved. HENWA has been trying to

43
00:02:19,480 --> 00:02:22,239
Speaker 1: take a large stake and potentially take over Ostel for

44
00:02:22,280 --> 00:02:25,880
Speaker 1: a few years, but its largest shareholder, the Forest family

45
00:02:25,919 --> 00:02:29,440
Speaker 1: as in Andrew Forrest, is against any deal. HENWI wants

46
00:02:29,440 --> 00:02:31,680
Speaker 1: to lift its stake in Nostele to nineteen point nine percent,

47
00:02:32,000 --> 00:02:34,880
Speaker 1: requires approvals from the Committee of Foreign Investment in the

48
00:02:34,960 --> 00:02:37,720
Speaker 1: United States, which has now got and from Australia's Foreign

49
00:02:37,760 --> 00:02:40,600
Speaker 1: Investment Review Board in the John Linn case. Media reports

50
00:02:40,600 --> 00:02:43,200
Speaker 1: say it has received a take over bid from private

51
00:02:43,200 --> 00:02:47,000
Speaker 1: equity company PEP. It's now in a training halt. Story

52
00:02:47,080 --> 00:02:51,640
Speaker 1: Number four. Superannuation funds must implement basic user authentication tools

53
00:02:51,639 --> 00:02:54,519
Speaker 1: within a matter of months after the Prudential Regulator set

54
00:02:54,520 --> 00:02:57,519
Speaker 1: a cyber attack on the sector where criminals stole hundreds

55
00:02:57,520 --> 00:03:01,679
Speaker 1: of thousands of dollars from retirees. Expose used persistent weakness

56
00:03:01,720 --> 00:03:06,000
Speaker 1: in infrastructure. Australian Prdancial Regulation Authority Deputy Chair Margaret Coles

57
00:03:06,040 --> 00:03:08,840
Speaker 1: had the four point two trillion dollar sector had fallen

58
00:03:08,919 --> 00:03:13,200
Speaker 1: short on the expected standards on cybersecurity, despite regular reminders

59
00:03:13,240 --> 00:03:16,079
Speaker 1: to get their houses in order. According to the AFAR.

60
00:03:16,560 --> 00:03:18,760
Speaker 1: Earlier in the year, hackers stole seven hundred and fifty

61
00:03:18,760 --> 00:03:21,920
Speaker 1: thousand dollars from the Australian Super Members COAL ordered super

62
00:03:21,919 --> 00:03:25,239
Speaker 1: funds to implement multi factor authentication for all higher risk

63
00:03:25,280 --> 00:03:28,240
Speaker 1: activities such as withdrawals by the end of August. Failure

64
00:03:28,280 --> 00:03:31,000
Speaker 1: to do so would require the funds to refer to

65
00:03:31,120 --> 00:03:35,000
Speaker 1: APRAM the executive as in the individual in charge of security.

66
00:03:35,440 --> 00:03:38,840
Speaker 1: That raises the possibility of punishing individuals if a provider

67
00:03:38,920 --> 00:03:43,000
Speaker 1: is unable to comply with the regulator's order. Finally, story

68
00:03:43,080 --> 00:03:45,680
Speaker 1: number five, the corporate regulator wants to make it easier

69
00:03:45,720 --> 00:03:48,480
Speaker 1: to join the AASX and I hope it will supercharge

70
00:03:48,560 --> 00:03:51,160
Speaker 1: new flats on the market. ASSEK will launch a two

71
00:03:51,200 --> 00:03:54,320
Speaker 1: year trial to expedite listing timelines Under the new process,

72
00:03:54,440 --> 00:03:57,760
Speaker 1: ASCIK will informally review IPO documents under a fast track

73
00:03:57,840 --> 00:04:00,800
Speaker 1: process two weeks before formal lodgment. The idea is to

74
00:04:00,840 --> 00:04:05,440
Speaker 1: reduce deal execution and market volatility risk associated with IPOs now.

75
00:04:05,520 --> 00:04:07,240
Speaker 1: Last year the only IPO is worth more than a

76
00:04:07,280 --> 00:04:12,320
Speaker 1: billion dollars were Guzmany Gomaz Data Center, Landlord, Digico Infrastructure

77
00:04:12,400 --> 00:04:15,560
Speaker 1: and Minor mac Cooper. That ain't enough. There also hasn't

78
00:04:15,600 --> 00:04:18,359
Speaker 1: been a lot of smaller company raising capital either, so

79
00:04:18,560 --> 00:04:21,159
Speaker 1: the AX is trying to change things. That's it for

80
00:04:21,240 --> 00:04:24,120
Speaker 1: afternoon report for Tuesday, the tenth of June twenty twenty five.

81
00:04:24,200 --> 00:04:26,320
Speaker 1: Make sure you hit follow on the podcast. We'll be

82
00:04:26,360 --> 00:04:28,880
Speaker 1: back tomorrow morning with the Wednesday edition of Fear and

83
00:04:28,920 --> 00:04:31,440
Speaker 1: Green Business News. I'm sure I Almer enjoy your reading