Afternoon Report | Rates on hold

This is the Fear and Greed Afternoon Report - everything you need to know about what happened in the markets, economy and world of business today, in just a few minutes.

1. RBA holds as inflation risks rise

2. ASX down 0.1pc

3. Star wins fifth lender waiver

4. Trump-Netanyahu Gaza plan presses Hamas

5. Kidman–Urban split

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Episode Transcript

Speaker 1 (00:03):
Welcome to the Fear and Greed Business News Afternoon Report
for Tuesday, the thirtieth of September twenty twenty five.

Speaker 2 (00:09):
Are Michael Thompson and.

Speaker 1 (00:10):
Every afternoon we've got the five stories that happen today
that you need to know about. Let's get cracking with
story number one. The Reserve Bank has kept the cash
rate steady at three point six percent today, but it
has warned that inflation looks set to come in hotter
than it expected back in August. The Board said the
decline in underlying inflation has slowed and early reads point

(00:31):
to a higher September quarter, potentially zero point nine to
one percent for the quarter versus its zero point six
percent forecast. Markets now see the November meeting really as
a coin toss for any move, with many economists betting
the next change won't actually come until February. Story number
two is all about markets. Then, the rate decision was

(00:53):
largely as expected, so it didn't have a huge impact
on markets, but there was a bit still going on.
The s and PA SX two hundred clocks zero point
one percent lower today to eight hundred and forty nine points.
It was a drop in the price of Oil that
really pulled the energy sector down. It wasn't the only
sector that fell. Nine of eleven sectors finished the day lower.
But if we sick with energy just for a moment,

(01:15):
Oil and gas giants, Woodside, Santos, both of them dropped.
Kron Energy, Beach Energy all lower. Oil is now trading
it under sixty eight US dollars a barrel. There's the
potential for a market glut, and there's also the possible
end of the war in Gaza that is affecting prices.
More on that one in a moment as well. Gold

(01:36):
prices sawed today, of course, they seemed to soar every day,
and the precious metal hit another record of three thousand,
eight hundred and thirty three US dollars an ounce. Romilius Resources, Bellvy, Gold,
Capricorn Metals all up around three percent, but the biggest
gold Minernumont, actually lost more than two percent today. That
was more to do with the resignation though of chief

(01:56):
executive Tom Palmer, and big news in the world of media,
seven West Group, which owns the Seven Network and a
whole bunch of newspapers and other assets, proposing a merger
with Southern Cross Media. The operator of radio networks including
Triple M and HIT. If it goes ahead, billionaire Kerry
Stokes says he will step down a seven West chair.

(02:18):
A lot still to come on this one. Shares in
both companies climbed about seven percent today. Story number three,
Star Entertainment has secured yet another waiver from lenders on
its four hundred and fifty million dollar debt. Now remember
this loan. We've talked about this affair bit on the
show previously. This loan has an interest rate of thirteen
point five percent. Trading was halted ahead of the announcement

(02:43):
today that Star has secured its fifth waiver in a year,
keeping the group afloat after repeated breaches of its loan agreement.
Shares in the embattled group they have plummeted from three
dollars forty two as it's high back in early twenty
twenty two, down to eight point nine cents before today's

(03:03):
holt has wiped over three billion dollars from the market
cap across that time. The share price did climb slightly
once trading resumed today, up to nine cents from eight
point nine cents. This is all despite one hundred million
dollars in cost carts that proposed three hundred million dollar
investment from Bally's out of the US. A deal to
sell Brisbane's Queen's Wharf Star is still flagging material uncertainty

(03:27):
over its future.

Speaker 2 (03:28):
Story Number four a big story on the global stage.
Israel has agreed to a US proposal to end the
war in Gaza, with Benjamin Ettniahu and Donald Trump announcing
the deal at the White House. The twenty point plan
calls for an immediate cease fire, the release of hostages
and prisoners on both sides, and the disarmament of Hamas
in exchange for humanitarian aid and reconstruction overseen by an

(03:51):
international force. A temporary Palestinian governing body would be established,
supervised by a Board of Peace by Trump and former
UK Prime Minister Tony Blair. The plan says Israel will
not annex Gaza and that vetted Palestinian police will eventually
maintain security, but the proposal does depend on Hamas agreeing

(04:14):
it has seventy two hours to respond if it refuses.
Trump says Israel would have and I quote his full
backing to finish the job. Skepticism remains high in Gaza,
though mediators Egypt and Katar say Hermas negotiators will review
the plan in good faith. Finally, Storry number five one
from the entertainment World Now. Nicole Kidman and Keith Urban

(04:36):
have reportedly separated after nearly twenty years of marriage. This
is according to multiple media outlets, who have reported that
the pair have been living apart for months and Urban
has secured a separate residence in Nashville. Neither has publicly
confirmed the split. The couple were together for Urban's tour
launch in August just last month, and mark their anniversary
in June on Instagram. Nicole Kidman was recently named Australia's

(04:59):
four most culturally powerful person has maintained a very heavy
schedule of film projects. They share two kids, and Kidman
has two adult children from her previous marriage to Tom Cruise.
That's it for the Afternoon Report for Tuesday, the thirtieth
of September twenty twenty five. Make sure you hit follow
on the podcast.

Speaker 1 (05:18):
And we'll be back tomorrow morning with the Wednesday edition
of Fear and Greed.

Speaker 2 (05:21):
I'm Michael Thompson. Enjoy your evening