1 00:00:03,600 --> 00:00:06,720 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report. 2 00:00:06,440 --> 00:00:09,120 Speaker 2: For Tuesday, the twenty fifth of February twenty twenty five. 3 00:00:09,160 --> 00:00:09,959 Speaker 2: I'm suan Alma. 4 00:00:10,360 --> 00:00:13,039 Speaker 1: Every afternoon, We've got the five stories that happened today 5 00:00:13,080 --> 00:00:15,280 Speaker 1: that you really do need to know about. Story number one, 6 00:00:15,320 --> 00:00:19,440 Speaker 1: there's in PASX two hundred closed down about zero point 7 00:00:19,520 --> 00:00:23,080 Speaker 1: seven percent to eighty two hundred and fifty two points. 8 00:00:23,160 --> 00:00:26,600 Speaker 2: Utilities did well, consumer discretionary not so well. 9 00:00:26,840 --> 00:00:30,320 Speaker 1: The big banks and miners all fell. In corporate news, 10 00:00:30,560 --> 00:00:35,040 Speaker 1: jones Lin Group its share price tumbled thirty four percent 11 00:00:35,600 --> 00:00:38,519 Speaker 1: after the group downgraded its twenty twenty five earnings guidance 12 00:00:38,560 --> 00:00:41,240 Speaker 1: owing his slower than expected progress on its new South 13 00:00:41,280 --> 00:00:46,520 Speaker 1: Wales and US based projects. Scrap metal recyclist SIMS rose 14 00:00:46,600 --> 00:00:49,199 Speaker 1: after underlying earning sword in the first half, iving to 15 00:00:49,240 --> 00:00:52,080 Speaker 1: improve operating performance from its North American metal and life 16 00:00:52,120 --> 00:00:56,320 Speaker 1: cycle services businesses. Story number two, Air traffic authorities only 17 00:00:56,360 --> 00:01:01,080 Speaker 1: discovered Chinese warships. We're conducting a live fire exercise and 18 00:01:01,120 --> 00:01:04,600 Speaker 1: then Tasman straight thirty minutes after it began, thanks to 19 00:01:04,600 --> 00:01:07,039 Speaker 1: an alert by a Virgin pilot rather than a warning 20 00:01:07,120 --> 00:01:12,160 Speaker 1: from government officials. Air Services Australia officials told Senate Estimates 21 00:01:12,200 --> 00:01:15,520 Speaker 1: today that forty nine flights were forced to divert their 22 00:01:15,560 --> 00:01:18,959 Speaker 1: flight plans because of the exercise late last week. The 23 00:01:19,000 --> 00:01:22,240 Speaker 1: incident marked the latest challenge to the government's efforts to 24 00:01:22,360 --> 00:01:25,959 Speaker 1: stabilize relations with China, with a federal opposition and national 25 00:01:25,959 --> 00:01:30,360 Speaker 1: security experts branding it a provocative act that deserves condemnation. 26 00:01:30,800 --> 00:01:34,080 Speaker 1: The exercises were conducted approximately six hundred and forty kilometers 27 00:01:34,120 --> 00:01:37,679 Speaker 1: off the New South Wales South coast on Friday. 28 00:01:37,560 --> 00:01:41,400 Speaker 2: In international waters. Air Services Australia Chief Executive Rob Sharp 29 00:01:41,440 --> 00:01:44,920 Speaker 2: told Estimates that Virgin Australia was advising that a foreign 30 00:01:45,000 --> 00:01:49,160 Speaker 2: warship was broadcasting that they were conducting live firing at 31 00:01:49,200 --> 00:01:52,720 Speaker 2: three hundred utical miles east of our coast and that's 32 00:01:52,800 --> 00:01:55,080 Speaker 2: why he found out about it. Story number three. 33 00:01:55,160 --> 00:01:57,960 Speaker 1: Nine Entertainments earnings fell twenty nine percent for the first 34 00:01:57,960 --> 00:02:01,600 Speaker 1: half as weaker economic and advertising conditions and a loss 35 00:02:01,640 --> 00:02:04,760 Speaker 1: of revenue from Meta weighed on the bottom line. The 36 00:02:04,960 --> 00:02:09,040 Speaker 1: drop came despite a bigger contribution from real estate platform Domain. 37 00:02:09,440 --> 00:02:12,520 Speaker 1: In a statement, Nine said Domain continues to be a 38 00:02:12,639 --> 00:02:17,400 Speaker 1: key part of Nine's media ecosystem in long term growth strategy. Later, 39 00:02:17,480 --> 00:02:21,840 Speaker 1: acting CEO Matt Stanton wouldn't be drawn on US group 40 00:02:21,919 --> 00:02:25,720 Speaker 1: co Star's two point seven billion dollar bid for domain 41 00:02:26,600 --> 00:02:29,480 Speaker 1: Story number four. Lower oil and gas prices has hit 42 00:02:29,720 --> 00:02:33,600 Speaker 1: Woodside Energy's bottom line, but Chief executive Mega O'Neill said 43 00:02:33,600 --> 00:02:36,359 Speaker 1: good progress is being made in new ventures in Western 44 00:02:36,360 --> 00:02:39,240 Speaker 1: Australia and the United States. Underlying profit for the twelve 45 00:02:39,280 --> 00:02:41,720 Speaker 1: months to the end of December was four and a 46 00:02:41,760 --> 00:02:45,400 Speaker 1: half billion dollars that sent Woodside's share price up three percent. 47 00:02:45,760 --> 00:02:49,160 Speaker 1: Miss O'Neill said Woodside's at large Scarborough Gas project in 48 00:02:49,320 --> 00:02:52,639 Speaker 1: WA is now eighty percent complete and remains on tractorship 49 00:02:52,680 --> 00:02:55,520 Speaker 1: its first cargo in twenty twenty six. The try On 50 00:02:55,560 --> 00:02:58,680 Speaker 1: offshore project in Mexico is more than twenty percent complete. 51 00:02:58,720 --> 00:03:01,440 Speaker 1: It's targeted for startup in two twenty twenty eight. Woodside's 52 00:03:01,440 --> 00:03:04,320 Speaker 1: also pushing forward with its two large new projects in 53 00:03:04,360 --> 00:03:08,800 Speaker 1: the US off Coast and Sorry number five. Viva Energy 54 00:03:08,919 --> 00:03:12,560 Speaker 1: reported a twenty percent fall in net profit, sending its 55 00:03:12,720 --> 00:03:16,200 Speaker 1: share price down twenty five percent. That's quite the drop 56 00:03:16,560 --> 00:03:20,120 Speaker 1: week oil refinery margins similarly to Ampole's results earlier in 57 00:03:20,120 --> 00:03:22,880 Speaker 1: the week, and a drop in discretionary spending has hit 58 00:03:22,919 --> 00:03:27,080 Speaker 1: the group. Last year, Viva bought OTR Group That's On 59 00:03:27,160 --> 00:03:29,520 Speaker 1: the Run Group for about one point two billion dollars, 60 00:03:29,800 --> 00:03:32,240 Speaker 1: but the cost of living crisis is hurting. People aren't 61 00:03:32,320 --> 00:03:35,240 Speaker 1: using the convenience of gas stations anywhere near as much 62 00:03:35,320 --> 00:03:38,680 Speaker 1: as Viva had hoped. Viva said it will rebrand Cole's 63 00:03:38,760 --> 00:03:42,480 Speaker 1: Express stores to run under the On the Run brand. 64 00:03:42,960 --> 00:03:45,200 Speaker 1: That's it for the Afternoon Report for Tuesday, the twenty 65 00:03:45,200 --> 00:03:46,680 Speaker 1: fifth of February twenty twenty five. 66 00:03:46,760 --> 00:03:48,360 Speaker 2: Make sure you hit follow on the podcast. 67 00:03:48,400 --> 00:03:50,800 Speaker 1: We will be back tomorrow morning with the Wednesday edition 68 00:03:50,840 --> 00:03:53,360 Speaker 1: of Fear and Greed Business News. I'm Seane Elmer. I'm 69 00:03:53,400 --> 00:03:54,080 Speaker 1: enjoy your evening.