Afternoon Report | ASX closes up, Tesla’s share price falls

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. ASX up for the week
2. AGL versus Grok at AGM
3. Tesla tumble
4. Asahi runs dry
5. Swift release

 

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Episode Transcript

Adam Lang (00:06):
Welcome to the Fear and Greed Business News Afternoon Report
for Friday, the third of October twenty twenty five. 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 the week
up today, gaining forty two points or zero point four
to six percent to eighty nine hundred and eighty seven points,

(00:27):
with healthcare, IT, consumer discretionary and property stocks off setting
energy and utilities companies. Oil fell to its lowest level
in nearly five months, with Brent crude oil trading around
US sixty four dollars a barrel. This put pressure on
the big energy stocks. The gold price fell, the local
gold stocks dropped, and the US dollar pushed higher. In

(00:48):
corporate news, DigiCo surged after growing demand for its AI
infrastructure lifted its earnings guidance. Eagers Automotive jumped ten percent
following the completion of its four hundred fifty two million
dollar equity raise to acquire a sixty five percent stake
in dealership group CanadaOne Auto and Mesoblast rose sharply after

(01:09):
its therapy to treat children for complications that could occur
during bone marrow transplants got formal recognition from the United
States Medicare and Medicaid Services. Story number two. Tech billionaire
Mike cannon Brooks's private company has voted against AGL Energy's
latest climate plan as the group's biggest shareholders grow frustrated

(01:31):
over the pace of action to cut emissions. Grock Ventures,
which owns about ten point four percent of AHL, criticized
the new twenty twenty five plan as including an only
incremental increase in ambitions from the twenty twenty two version
and being out of step with the binding climate goals
agreed at the UN Climate Change Conference in Paris in
twenty fifteen. Grock Ventures urged the board to adopt stronger

(01:54):
steps to cut emissions and boost renewable energy to the
benefit of AGL shareholders. Overall, thirty percent of AGL shareholders,
voting by proxyate agl's annual general meeting today opposed the
Climate Transition Action Plan. AGL has kept essentially the same
timetable for closing its two remaining coal power stations in
New South Wales and Victoria as in the twenty twenty

(02:17):
two climate plan. Story number three Tesla's share price fell
after the electric vehicle maker posted a record quarter of
sales that will be difficult to replicate now that the
federal electric car subsidies in the US have expired. The
company delivered four hundred and ninety seven thousand and ninety
nine vehicles worldwide in the most recent quarter, and that

(02:37):
is seven point four percent more than a year ago,
which was ahead of expectations. A rush to take advantage
of a US seven thy five hundred dollars tax credit
for EV purchases delivered a temporary boost to Tesla's core
automotive business, which had struggled for several quarters under the
weight of an aging lineup and rising competition. The company
also faced a consumer backlash to chief executive in Elon

(03:00):
Musk working closely with US President Donald Trump in the
early part of this year. Analysts say they are now
focusing more not on the EV part of Tesla, but
the potential profit from the group's robotaxi, artificial intelligence and
robotics ventures, which Musk has said will drive the company's
future market value. Story Number four retailers in Japan are

(03:21):
warning customers of possible Asahi Super Dry beer shortages after
a cyber attack paralyzed production and distribution of the brew.
Shoppers at some seven to eleven stores are seeing notices
that shipments of the country's most popular beer had been suspended.
According to Bloomberg, the disruption shows how Japan's food and
beverage sector depends on intricate, logistical and digital supply chains,

(03:44):
where a single cyber attack can cause ripples from factory
flows to convenience store shells. Asahi's troubles carried outsize weight
given Super Dry's dominant market share and the cutthroat competition
among Japan's major brewers. Asahi halted production at some of
its factories on Monday after the cyber attack hobbled its
ordering and delivery system, and Asahi has no timeline when

(04:07):
it would be able to get its systems back online.
Story number five. This one is as much about popular
culture as it is about business, and the pop music
world is talking about it. Taylor Swift has released her
much anticipated twelfth studio album, The Life of a Showgirl.
The record was made available on music platforms including Spotify,
Apple Music and YouTube at two pm Australian Eastern Standard time.

(04:31):
The Life of the Showgirl encompasses multiple variants across CDs, vinyl,
and tapes, and there are five different album covers for superfans.
The thirty five year old has now released six albums
of original material, as well as four re recordings of
her earlier work, and staged the most successful tour in
pop history. More recently, she became engaged to her NFL

(04:55):
athlete partner, Travis Kelcey. It's not quite a merger, more
a partnership. That's it for the Afternoon Report for Friday,
the third of October twenty twenty five. 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 Lane. Enjoy your evening