Welcome to the Fear and Greed Business News Afternoon Report for Wednesday, the thirtieth of October twenty twenty four. I'm Sean Aylmer. Every afternoon, We've got the five stories have happened today that you need to know about. Story number one, headline, inflation has fallen back within the Reserve banks two to three percent target. Took three and a half years to get there, but we did it. It was two point eight percent for the year to the end of September and zero point two percent for the September quarter. The big fall was on the back of energy rebates provided by the federal government. The trimm mean measure, which the Reserve Bank likes, came in at three and a half percent, down from four percent. Jim Chalmers the Treasures said the economy is on track for a soft landing. That's all good news. However, economists reckon there'll be no rate cut until next year, either in February or May, even though inflation is falling. Story number two. The local share market fell nearly one percent today, with some big stocks tumbling. The market closed at eight one hundred and eighty points. Woolworths and Coals were down sharply after Woolly's downgraded its profit forecast. Where's Farmers, which of course owns Bunnings. It was down two and a half percent. The inflation figures I just mentioned they hit the banks, but really there's widespread selling. About seventy seventy five percent of the top two hundred was sold off today fortesqu Metals Group, Telstra, Transurb and Cosl they were all down more than one percent. Goodman was about the best of the top top stocks anyway, it was up more than one percent. In corporate news, Linetown Resources said significant progress in its Kathleen Valley lithium project has been made, but its share price was down four and a half percent by the close of the session. Bigger's Group's share price was lower after it said it won't be increasing prices for its products this financial year and we'll have to find cost savings elsewhere. And Appens share price raise one point three percent after the enterprise software group said the bottom line had returned to a profit in the September quarter straight. Number three BHP held its annual general meeting in Brisbane today. In chair Ken mackenzie said the world is an increasingly volatile place. He said protectionism is threatening global trade, though he's confident that bhp strategy of reshaping its portfolio pushing towards copper and potash is a good one. BHP is feeling the lag effect of soft inflation, uneven recovery in China, and supply side surpluses in some commodities. He also warned of more industrial disputes because of new federal workplace laws. BHP was one of the few top companies to close higher today. Straight number four Star Entertainment posted an eighteen percent drop in revenue for September quarter as some of the restrictions on the gaming group start to bite. Star lost money during the quarter, and that helped send its share price down four percent, though at one point during the day it was down closer to ten percent. Star said the a deterioration in operating performance in part was due to a challenging operating environment and the continued implementation of mandatory carded play in cash limits. Very tough business that one, and finally, story number five ABC will undertake a cultural renewal in coming months on the back of falling TV and radio audiences. That news came in the forward of the ABC's annual Report, which came out late last night. Kim Williams, a chair, I quote him, he said, my board colleagues believe it is imperative to aim over the course of the next few months to develop an invigorated sense of purpose for contemporary relevance at the ABC. As if the Afternoon Report for Wednesday, the thirtieth of October twenty twenty four. Don't forget to follow on the podcast and find Fear and Greed on LinkedIn, instagramx TikTok and Facebook. Joined Michael Thompson and I tomorrow morning for the Fast five by Fear and Greed Top five business throws you need to know in just five minutes. I'm Sean Elmer. Enjoy your evening,

Welcome to the Fear and Greed Business News Afternoon Report for Wednesday, the thirtieth of October twenty twenty four. I'm Sean Aylmer. Every afternoon, We've got the five stories have happened today that you need to know about. Story number one, headline, inflation has fallen back within the Reserve banks two to three percent target. Took three and a half years to get there, but we did it. It was two point eight percent for the year to the end of September and zero point two percent for the September quarter. The big fall was on the back of energy rebates provided by the federal government. The trimm mean measure, which the Reserve Bank likes, came in at three and a half percent, down from four percent. Jim Chalmers the Treasures said the economy is on track for a soft landing. That's all good news. However, economists reckon there'll be no rate cut until next year, either in February or May, even though inflation is falling. Story number two. The local share market fell nearly one percent today, with some big stocks tumbling. The market closed at eight one hundred and eighty points. Woolworths and Coals were down sharply after Woolly's downgraded its profit forecast. Where's Farmers, which of course owns Bunnings. It was down two and a half percent. The inflation figures I just mentioned they hit the banks, but really there's widespread selling. About seventy seventy five percent of the top two hundred was sold off today fortesqu Metals Group, Telstra, Transurb and Cosl they were all down more than one percent. Goodman was about the best of the top top stocks anyway, it was up more than one percent. In corporate news, Linetown Resources said significant progress in its Kathleen Valley lithium project has been made, but its share price was down four and a half percent by the close of the session. Bigger's Group's share price was lower after it said it won't be increasing prices for its products this financial year and we'll have to find cost savings elsewhere. And Appens share price raise one point three percent after the enterprise software group said the bottom line had returned to a profit in the September quarter straight. Number three BHP held its annual general meeting in Brisbane today. In chair Ken mackenzie said the world is an increasingly volatile place. He said protectionism is threatening global trade, though he's confident that bhp strategy of reshaping its portfolio pushing towards copper and potash is a good one. BHP is feeling the lag effect of soft inflation, uneven recovery in China, and supply side surpluses in some commodities. He also warned of more industrial disputes because of new federal workplace laws. BHP was one of the few top companies to close higher today. Straight number four Star Entertainment posted an eighteen percent drop in revenue for September quarter as some of the restrictions on the gaming group start to bite. Star lost money during the quarter, and that helped send its share price down four percent, though at one point during the day it was down closer to ten percent. Star said the a deterioration in operating performance in part was due to a challenging operating environment and the continued implementation of mandatory carded play in cash limits. Very tough business that one, and finally, story number five ABC will undertake a cultural renewal in coming months on the back of falling TV and radio audiences. That news came in the forward of the ABC's annual Report, which came out late last night. Kim Williams, a chair, I quote him, he said, my board colleagues believe it is imperative to aim over the course of the next few months to develop an invigorated sense of purpose for contemporary relevance at the ABC. As if the Afternoon Report for Wednesday, the thirtieth of October twenty twenty four. Don't forget to follow on the podcast and find Fear and Greed on LinkedIn, instagramx TikTok and Facebook. Joined Michael Thompson and I tomorrow morning for the Fast five by Fear and Greed Top five business throws you need to know in just five minutes. I'm Sean Elmer. Enjoy your evening,