Welcome to the Fear and Greed Business News Afternoon Report for Friday, the twenty ninth of November twenty twenty four. I'm suan Alma. Every afternoon, We've got the five stories that happened today that you need to know about. Story and one on. The local share market closed down eight points today to finish the week at eight four hundred and thirty six points, meaning for the five sessions and markets up about half a percent. Today. CSL A and Z and zero were among the worst performers of the large caps at least, while BHP for US Few Metals and Weistech were among the best. It was a somber end to a week in which the bank benchmark hit a new high a couple of times, capping the enthusiasm today the number of market economists pushing out their forecast for when interest rates will be cut In Australia. Haines, zen Amp and Bens of Queensland have joined Westpac and National Australian Bank saying the earliest there will be a rate cut is May next year. In corporate news today, Arman Producers Select Harvest reported a full year profit. Finally, that comes up after last year's loss, though its share price closed down five percent and Star Entertainment fell below nineteen cents a share for the first time ever this morning, though it finished the day up to and a half percent at twenty cents a share. Story number two is a big day for Federal Treasurer Jim Chalmers, who was pushing the need to reform the Reserve Bank. That's after legislation passed in the Senate yesterday, one of eleven bills and the Treasury portfolio to get the green light this week. Others include changes to credit rules around buy now, pay later products, changes in the taxation of buill to rent property developments, and a law on a defined purpose for supernuation savings. Dr Chalmers said the changes to the Reserve Bank were about strengthening and modernizing the institution. The Central Bank will have a committee to set interest rates and a separate committee to look after governance. Doctor Chalmers will appoint several members to the Reserve Bank Board ahead of the next election. Story number three. Online property listings group ARIA has sued its main rival Domain, accusing it of infringing on its copyright over property photos and floor plans displayed on its website. Aria, owner of real estate dot Com today U, has alleged in the Federal Court that Domain breached copyright by scraping exclusive listings and placing them on domains price Finder and Inside Business platforms, according to a story in the Australian Financial Review, but Domain, which is defending the claim, argues that Aria's lawsuit is a bid to exert uncompetitive market influence. As the biggest classifieds company nationally. Aria is backed by News Court, while Domain is sixty percent owned by nine Entertainment. Aria's alleging it owns the copyright for images and schematics for one hundred and eighty one listings obtained by demaand and used by its analytics service, RIA claims it had exclusivity rights conferred by photographers for the relevant listings to main set. It has since removed those one hundred and eighty one listings from its platforms after being provided evidence of Ria's intellectual property Story number four. The big social media platforms have hit out today at the government's ban for under sixteen year olds, saying they're concerned with how the bands will be enforced. The House of Reps signed the proposal today and that's the third reading and The new laws will come into effect in late twenty twenty five and will capture platforms such as Facebook, Instagram, Snapchat, Reddit and x There'll be exemptions for health and education services, including Messenger Kids and Google Classroom. A spakesperson for Meta, which owns Facebook and Instagram. So the Tech Group is concerned about the process that saw the legislation rushed through Parliament. They said it was important that there's a productive consultation to ensure a technically feasible outcome that doesn't place an onerous burden on parents. Earlier in the day, Prime Minister Anthony Albernezi said the social media companies would have greater responsibility to keep children safe online and story number five today, one of the big winners from the election of Donald Trump in the US looks like being Rupert Murdock's Fox News. It has captured nearly three quarters of all the US cable news audiences in the aftermath of Donald Trump's victory as liberal Americans tune out of the former reality stars transition to a second term in office, Fox's daily audiences have surged forty percent since November five vote, according to the Financial Times, while viewership of the more left leaning MSNBC and CNN have dropped thirty eight percent and twenty seven percent respectively. That's all based on Nilsen figures. Fox News averaged two million viewers a day from November six to November twenty two, up from one point four million for the year through November four. During primetime evening hours and the week since the election, seventy three percent of the title cable news audience is now Fox, while sixteen percent tuned into MSNBC and eleven percent to CNN. That's it the Afternoon Report for Friday twenty ninth to November twenty twenty four. Michael Thompson and I will be back tomorrow morning with the weekend edition of Fear and Greed Business News. I'm Sean Elmer. Enjoy reading

Welcome to the Fear and Greed Business News Afternoon Report for Friday, the twenty ninth of November twenty twenty four. I'm suan Alma. Every afternoon, We've got the five stories that happened today that you need to know about. Story and one on. The local share market closed down eight points today to finish the week at eight four hundred and thirty six points, meaning for the five sessions and markets up about half a percent. Today. CSL A and Z and zero were among the worst performers of the large caps at least, while BHP for US Few Metals and Weistech were among the best. It was a somber end to a week in which the bank benchmark hit a new high a couple of times, capping the enthusiasm today the number of market economists pushing out their forecast for when interest rates will be cut In Australia. Haines, zen Amp and Bens of Queensland have joined Westpac and National Australian Bank saying the earliest there will be a rate cut is May next year. In corporate news today, Arman Producers Select Harvest reported a full year profit. Finally, that comes up after last year's loss, though its share price closed down five percent and Star Entertainment fell below nineteen cents a share for the first time ever this morning, though it finished the day up to and a half percent at twenty cents a share. Story number two is a big day for Federal Treasurer Jim Chalmers, who was pushing the need to reform the Reserve Bank. That's after legislation passed in the Senate yesterday, one of eleven bills and the Treasury portfolio to get the green light this week. Others include changes to credit rules around buy now, pay later products, changes in the taxation of buill to rent property developments, and a law on a defined purpose for supernuation savings. Dr Chalmers said the changes to the Reserve Bank were about strengthening and modernizing the institution. The Central Bank will have a committee to set interest rates and a separate committee to look after governance. Doctor Chalmers will appoint several members to the Reserve Bank Board ahead of the next election. Story number three. Online property listings group ARIA has sued its main rival Domain, accusing it of infringing on its copyright over property photos and floor plans displayed on its website. Aria, owner of real estate dot Com today U, has alleged in the Federal Court that Domain breached copyright by scraping exclusive listings and placing them on domains price Finder and Inside Business platforms, according to a story in the Australian Financial Review, but Domain, which is defending the claim, argues that Aria's lawsuit is a bid to exert uncompetitive market influence. As the biggest classifieds company nationally. Aria is backed by News Court, while Domain is sixty percent owned by nine Entertainment. Aria's alleging it owns the copyright for images and schematics for one hundred and eighty one listings obtained by demaand and used by its analytics service, RIA claims it had exclusivity rights conferred by photographers for the relevant listings to main set. It has since removed those one hundred and eighty one listings from its platforms after being provided evidence of Ria's intellectual property Story number four. The big social media platforms have hit out today at the government's ban for under sixteen year olds, saying they're concerned with how the bands will be enforced. The House of Reps signed the proposal today and that's the third reading and The new laws will come into effect in late twenty twenty five and will capture platforms such as Facebook, Instagram, Snapchat, Reddit and x There'll be exemptions for health and education services, including Messenger Kids and Google Classroom. A spakesperson for Meta, which owns Facebook and Instagram. So the Tech Group is concerned about the process that saw the legislation rushed through Parliament. They said it was important that there's a productive consultation to ensure a technically feasible outcome that doesn't place an onerous burden on parents. Earlier in the day, Prime Minister Anthony Albernezi said the social media companies would have greater responsibility to keep children safe online and story number five today, one of the big winners from the election of Donald Trump in the US looks like being Rupert Murdock's Fox News. It has captured nearly three quarters of all the US cable news audiences in the aftermath of Donald Trump's victory as liberal Americans tune out of the former reality stars transition to a second term in office, Fox's daily audiences have surged forty percent since November five vote, according to the Financial Times, while viewership of the more left leaning MSNBC and CNN have dropped thirty eight percent and twenty seven percent respectively. That's all based on Nilsen figures. Fox News averaged two million viewers a day from November six to November twenty two, up from one point four million for the year through November four. During primetime evening hours and the week since the election, seventy three percent of the title cable news audience is now Fox, while sixteen percent tuned into MSNBC and eleven percent to CNN. That's it the Afternoon Report for Friday twenty ninth to November twenty twenty four. Michael Thompson and I will be back tomorrow morning with the weekend edition of Fear and Greed Business News. I'm Sean Elmer. Enjoy reading