1 00:00:03,400 --> 00:00:06,560 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,640 --> 00:00:09,239 Speaker 1: for Monday, the eighth of September twenty twenty five. Are 3 00:00:09,280 --> 00:00:11,920 Speaker 1: Michael Thompson. Every afternoon, We've got the five stories that 4 00:00:11,920 --> 00:00:14,080 Speaker 1: happened today that you need to know about. Let's go 5 00:00:14,080 --> 00:00:16,120 Speaker 1: a story. Number one. The S and p ASX two 6 00:00:16,200 --> 00:00:20,280 Speaker 1: hundred closed zero point two percent lower today to eight 7 00:00:20,400 --> 00:00:23,160 Speaker 1: hundred and fifty points, with eight of the eleven sectors 8 00:00:23,160 --> 00:00:27,080 Speaker 1: losing ground. Oil producers Woodside and Santos felled two point 9 00:00:27,120 --> 00:00:30,479 Speaker 1: seven percent on one point two percent, respectively, after a 10 00:00:30,560 --> 00:00:34,120 Speaker 1: decision by OPEK plus to increase oil output at a 11 00:00:34,120 --> 00:00:38,159 Speaker 1: slower pace from next month, anticipating weaker demand. Woolworths and 12 00:00:38,200 --> 00:00:41,680 Speaker 1: Coals flagged a billion dollars in back pay under payments 13 00:00:41,680 --> 00:00:44,199 Speaker 1: following a federal court decision last week that was more 14 00:00:44,240 --> 00:00:48,440 Speaker 1: than previously expected. Coals closed zero point eight percent lower today, 15 00:00:48,440 --> 00:00:51,760 Speaker 1: while Woolies actually climbed half a percent. Three of the 16 00:00:51,800 --> 00:00:55,400 Speaker 1: four big banks all dropped. Commonwealth was the only one 17 00:00:55,440 --> 00:00:57,280 Speaker 1: to record an increase, but even then it was just 18 00:00:57,560 --> 00:00:59,959 Speaker 1: zero point one percent. A good day for the lift 19 00:01:00,160 --> 00:01:03,000 Speaker 1: are miners and for the tech stocks two headlined by 20 00:01:03,080 --> 00:01:05,319 Speaker 1: Life three sixty, which was up more than six percent, 21 00:01:05,840 --> 00:01:09,640 Speaker 1: and drone technology company Drone Shield jumped more than five 22 00:01:09,680 --> 00:01:12,440 Speaker 1: percent after announcing it'll soon be included in the ASX 23 00:01:12,440 --> 00:01:16,120 Speaker 1: two hundred onto Story number two and Aaron Patterson, the 24 00:01:16,240 --> 00:01:19,920 Speaker 1: Victorian woman at the center of the infamous mushroom lunch case, 25 00:01:20,280 --> 00:01:23,199 Speaker 1: has been sentenced to life in prison with a non 26 00:01:23,200 --> 00:01:27,560 Speaker 1: parole period of thirty three years. Justice Christopher Beale found 27 00:01:27,640 --> 00:01:32,000 Speaker 1: Patterson deliberately served Beef Wellington's laced with deathcap mushrooms in 28 00:01:32,040 --> 00:01:35,520 Speaker 1: July twenty twenty three, killing Don and Gail Patterson and 29 00:01:35,560 --> 00:01:40,199 Speaker 1: Heather Wilkinson and leaving Ian Wilkinson critically ill. Today's sentencing 30 00:01:40,440 --> 00:01:44,119 Speaker 1: saw TV cameras allowed inside the courtroom for the first time, 31 00:01:44,600 --> 00:01:47,880 Speaker 1: streaming the sentence live. Fifty one year old Patterson will 32 00:01:47,920 --> 00:01:51,520 Speaker 1: not be eligible for release until twenty fifty six, when 33 00:01:51,560 --> 00:01:54,480 Speaker 1: she will be eighty two, making her one of Victoria's 34 00:01:54,560 --> 00:01:59,880 Speaker 1: longest serving female inmates. Story number three takeover target Maini 35 00:02:00,400 --> 00:02:04,600 Speaker 1: share price tumbled thirteen percent today after reports that its 36 00:02:04,640 --> 00:02:09,000 Speaker 1: suitor had plans to close its Adelaide manufacturing plant. Maine 37 00:02:09,000 --> 00:02:12,240 Speaker 1: said it is aware that US healthcare giant Cosette had 38 00:02:12,280 --> 00:02:15,040 Speaker 1: told the Foreign Investment Review Board that it may close 39 00:02:15,080 --> 00:02:17,800 Speaker 1: the factory if it's six hundred and seventy two million 40 00:02:17,840 --> 00:02:21,480 Speaker 1: dollar takeover bid for the company is successful. The plant 41 00:02:21,600 --> 00:02:24,720 Speaker 1: makes pharmaceuticals and employs two hundred people, and the South 42 00:02:24,720 --> 00:02:28,320 Speaker 1: Australian Premier said that Cosette had told the Foreign Investment 43 00:02:28,360 --> 00:02:31,680 Speaker 1: Review Board of its intention to close the plant. In 44 00:02:31,720 --> 00:02:34,440 Speaker 1: a statement yesterday, Maine Farmer said it was not previously 45 00:02:34,720 --> 00:02:38,600 Speaker 1: aware of any communication between the South Australian Government, Cosette 46 00:02:38,600 --> 00:02:42,520 Speaker 1: and the Foreign Investment Review Board. However, it added that 47 00:02:42,560 --> 00:02:45,560 Speaker 1: it was now aware that Cosette had indicated a possible 48 00:02:45,560 --> 00:02:48,399 Speaker 1: intention to either close or sell the site if successful, 49 00:02:49,040 --> 00:02:52,240 Speaker 1: and as a result it's share price tumbled. Story number 50 00:02:52,240 --> 00:02:55,080 Speaker 1: four Hopes of two or three more interest rate cuts 51 00:02:55,160 --> 00:02:59,040 Speaker 1: might be fading, with Investment Bank City revising its forecast 52 00:02:59,040 --> 00:03:01,800 Speaker 1: to just one more move from the RBA. It had 53 00:03:01,800 --> 00:03:04,919 Speaker 1: previously expected another two cuts in this cycle. The Reserve 54 00:03:05,000 --> 00:03:07,200 Speaker 1: Bank has of course lowered the cash rate three times 55 00:03:07,200 --> 00:03:10,560 Speaker 1: this year and is widely expected to ease again in November. 56 00:03:11,120 --> 00:03:13,760 Speaker 1: In fact, prior to last week, markets had actually priced 57 00:03:13,800 --> 00:03:15,680 Speaker 1: in a one hundred percent chance of a cut at 58 00:03:15,720 --> 00:03:18,880 Speaker 1: the November meeting, but better than expected economic growth figures 59 00:03:18,960 --> 00:03:21,240 Speaker 1: last week saw that paired back to a seventy five 60 00:03:21,280 --> 00:03:25,520 Speaker 1: percent chance, reflected now in this forecast from City and Finally, 61 00:03:25,600 --> 00:03:29,080 Speaker 1: story number five, Florida's health department is pushing ahead with 62 00:03:29,120 --> 00:03:32,840 Speaker 1: a plan to drop compulsory vaccinations for kids. The change 63 00:03:32,880 --> 00:03:35,960 Speaker 1: will come into effect in ninety days, applying initially to 64 00:03:36,000 --> 00:03:40,120 Speaker 1: illnesses including chicken pox, hepatitis B, and new macoccal disease. 65 00:03:40,680 --> 00:03:44,400 Speaker 1: It follows the state Surgeon General's announcement that Florida would 66 00:03:44,400 --> 00:03:47,840 Speaker 1: become the first US state to make school vaccinations voluntary, 67 00:03:47,880 --> 00:03:54,040 Speaker 1: shifting responsibility to parents. Vaccines for measles, polio, diphtheria, mumps, tetanus, 68 00:03:54,240 --> 00:03:58,200 Speaker 1: and hooping cough will remain compulsory unless lawmakers extend the 69 00:03:58,280 --> 00:04:00,600 Speaker 1: roll back, which is something that can't actually her until 70 00:04:00,640 --> 00:04:04,400 Speaker 1: the next legislative session in January of next year. Public 71 00:04:04,400 --> 00:04:08,160 Speaker 1: health groups, including the American Academy of Pediatrics warn that 72 00:04:08,280 --> 00:04:11,440 Speaker 1: the change risks student and staff safety at a time 73 00:04:11,440 --> 00:04:14,480 Speaker 1: when the US is facing its worst measles outbreak in 74 00:04:14,520 --> 00:04:18,080 Speaker 1: three decades and a sharp rise in hooping cough cases. 75 00:04:18,440 --> 00:04:20,919 Speaker 1: That's it for the Afternoon Report for Monday, the eighth 76 00:04:20,920 --> 00:04:23,440 Speaker 1: of September twenty twenty five. Make sure you hit follow 77 00:04:23,480 --> 00:04:25,320 Speaker 1: on the podcast, and we'll be back tomorrow morning with 78 00:04:25,360 --> 00:04:28,080 Speaker 1: the Tuesday edition of Fear and Greed. A'm Michael Thompson. 79 00:04:28,320 --> 00:04:29,080 Speaker 1: Enjoy your evening.