Welcome to the Fear and Greed Business News Afternoon Report for Friday, the sixth of December twenty twenty four. I'm Adam Lang. Every afternoon, we've got the five stories that happened today that you need to know about. Story number one. The S and p ASX two hundred closed down zero point six percent today to eighty four hundred and twenty one points, meaning the benchmark was down zero point three percent for the week. A drop in iron ore prices, which have been higher in the past fortnighte pushed down the big miners, with BHP, Rio Tinto, and Fortescu Metals all finishing lower. The big banks were mixed, while energy stocks were tending to trade lower overnight. Major oil producers delayed plans to cut output, putting downward pressure on Brent crude oil prices. Bitcoin took a breather from its run above US one hundred thousand dollars a unit and is back around US ninety eight thousand. The Aussie dollar heads into the weekend buying sixty four point three US cents. Story number two. Prime Minister Anthony Albanizi has con m the suspected fire bombing of a Melbourne synagogue, saying Australia has zero tolerance for anti Semitism and it has no place in this country. Police in Melbourne say the fire at the Adas Israel Synagogue, which had been built by Holocaust survivors, was deliberately lit. Accelerant was placed inside the synagogue and fire ripped through the building soon after four am this morning. Opposition leader Peter Dutton called the fire bombing abhorrent, while Victorian Premier de Cina Allen said every resource will be deployed to find those responsible. The incident comes as Australia is embroiled in a debate in the United Nations. Australia has angered Israel by changing its vote to join one hundred and fifty six other countries to support a United Nations resolution demanding Israel and its occupation of the West Bank, and moved towards a two state solution with Palestine that has split Australia with the Jewish State and the United States. Story Number three Rare Earth Group I Lucas share price fell nine percent after a blowout in the cost of its new refinery in westerner Stireustralia. ILUKA and the federal government have agreed to share the cost of the blowouts with the original cost of one point two billion by leoning to one point eight billion. The Albanezy government has pledged a further four hundred million towards the facility, which will be the first rare earth refinery in the country. The facility is part of the government's plan to break China's dominance in the process of critical minerals. Iluka will stump another two hundred and fourteen million in cash to cover each share of the rising costs, and the fall in a Luca's share price pushed it to a four year low this morning. Rare earths are used to make industrial magnets inside cars, wind turbines and fighter jets. Storing number four. West Farmers has reshuffled management, putting Kmart's chief financial officer in charge of the discount chain and elevating the current CEO, Ian Bailey to run the fast growing ANCHO Global Empire. Alexandra Sposeeska, at forty one years of age, will become West Farmer's youngest divisional boss and run Kymart. Anko was established as Kamart's own brand into twenty nineteen and now sells more than one billion items from linen to fashion and toys in Australia each year. Last year, it signed with the Canadian department store Hudson's Bay and made a deal with Mattel's Fisher Price brand to roll out wooden toys across one thousand Walmart stores in the US. Anko now contributes about eighty five percent of sales at Kmart, which is significant reason why the discount retailer is now contributing more to the West Farmer's business, which includes Bunning's office works and industrial assets. West Farmer's share price was slightly lower today. Story number five. A magnitude seven earthquake hit off the northern California coast early this morning Australian time, prompting at tsunami warning that was later canceled for a large stretch of the California and Oregon coasts. Some four point seven million residents of California and Oregon had been under the tsunami warning before it was canceled. The National Weather Service said the quake, which hit at a shallow depth of ten kilometers, was centered at about sixty three kilometers west of the town of Ferndae, which is a sparsely populated portion of the northern California coast. That's according to Reuter's. The City of Berkeley Police Department had issued an evacuation order for parts of the city on the San Francisco Bay due to a tsunami coming to the West Berkeley area, according to an alert scent to residents. That's it for the afternoon report for Friday, sixth of December twenty twenty four. Make sure you hit follow on the podcast. We'll be back tomorrow morning with the weekend edition of Fear and Greed business News. I'm Adam lank. Enjoy your evening.

Welcome to the Fear and Greed Business News Afternoon Report for Friday, the sixth of December twenty twenty four. I'm Adam Lang. Every afternoon, we've got the five stories that happened today that you need to know about. Story number one. The S and p ASX two hundred closed down zero point six percent today to eighty four hundred and twenty one points, meaning the benchmark was down zero point three percent for the week. A drop in iron ore prices, which have been higher in the past fortnighte pushed down the big miners, with BHP, Rio Tinto, and Fortescu Metals all finishing lower. The big banks were mixed, while energy stocks were tending to trade lower overnight. Major oil producers delayed plans to cut output, putting downward pressure on Brent crude oil prices. Bitcoin took a breather from its run above US one hundred thousand dollars a unit and is back around US ninety eight thousand. The Aussie dollar heads into the weekend buying sixty four point three US cents. Story number two. Prime Minister Anthony Albanizi has con m the suspected fire bombing of a Melbourne synagogue, saying Australia has zero tolerance for anti Semitism and it has no place in this country. Police in Melbourne say the fire at the Adas Israel Synagogue, which had been built by Holocaust survivors, was deliberately lit. Accelerant was placed inside the synagogue and fire ripped through the building soon after four am this morning. Opposition leader Peter Dutton called the fire bombing abhorrent, while Victorian Premier de Cina Allen said every resource will be deployed to find those responsible. The incident comes as Australia is embroiled in a debate in the United Nations. Australia has angered Israel by changing its vote to join one hundred and fifty six other countries to support a United Nations resolution demanding Israel and its occupation of the West Bank, and moved towards a two state solution with Palestine that has split Australia with the Jewish State and the United States. Story Number three Rare Earth Group I Lucas share price fell nine percent after a blowout in the cost of its new refinery in westerner Stireustralia. ILUKA and the federal government have agreed to share the cost of the blowouts with the original cost of one point two billion by leoning to one point eight billion. The Albanezy government has pledged a further four hundred million towards the facility, which will be the first rare earth refinery in the country. The facility is part of the government's plan to break China's dominance in the process of critical minerals. Iluka will stump another two hundred and fourteen million in cash to cover each share of the rising costs, and the fall in a Luca's share price pushed it to a four year low this morning. Rare earths are used to make industrial magnets inside cars, wind turbines and fighter jets. Storing number four. West Farmers has reshuffled management, putting Kmart's chief financial officer in charge of the discount chain and elevating the current CEO, Ian Bailey to run the fast growing ANCHO Global Empire. Alexandra Sposeeska, at forty one years of age, will become West Farmer's youngest divisional boss and run Kymart. Anko was established as Kamart's own brand into twenty nineteen and now sells more than one billion items from linen to fashion and toys in Australia each year. Last year, it signed with the Canadian department store Hudson's Bay and made a deal with Mattel's Fisher Price brand to roll out wooden toys across one thousand Walmart stores in the US. Anko now contributes about eighty five percent of sales at Kmart, which is significant reason why the discount retailer is now contributing more to the West Farmer's business, which includes Bunning's office works and industrial assets. West Farmer's share price was slightly lower today. Story number five. A magnitude seven earthquake hit off the northern California coast early this morning Australian time, prompting at tsunami warning that was later canceled for a large stretch of the California and Oregon coasts. Some four point seven million residents of California and Oregon had been under the tsunami warning before it was canceled. The National Weather Service said the quake, which hit at a shallow depth of ten kilometers, was centered at about sixty three kilometers west of the town of Ferndae, which is a sparsely populated portion of the northern California coast. That's according to Reuter's. The City of Berkeley Police Department had issued an evacuation order for parts of the city on the San Francisco Bay due to a tsunami coming to the West Berkeley area, according to an alert scent to residents. That's it for the afternoon report for Friday, sixth of December twenty twenty four. Make sure you hit follow on the podcast. We'll be back tomorrow morning with the weekend edition of Fear and Greed business News. I'm Adam lank. Enjoy your evening.