Afternoon Report | PM heads to US

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 down for the week

2. Trump meeting in doubt

3. ASIC chair to finish

4. REX buyer?

5. Nvidia-Intel deal

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Episode Transcript

Speaker 1 (00:03):
Welcome to the Fear and Greed Business News. The Afternoon
Report for Friday, the nineteenth of September twenty twenty five.
I'm Sean Elmer. Every afternoon, we've got the five stories
that happened today that you need to know about. Story Num.
One in the Australian share market and courage by fresh
record hires on Wall Street Rose today finished up zero
point three percent to eighty seven hundred and seventy four points.
For the week, it was down one percent, which was

(00:25):
the third consecutive week of decline. Healthcare stocks led the
way today, with Telex Pharmaceuticals and Promedicas both rising. The
big miners dropped, while goldstocks rose. Energy companies, will hire
and the big banks were mixed. Storry number two, Prime
Minister Anthony Albernezi is heading off to the United States
without having secured a one on one meeting with President

(00:45):
Donald Trump. Alberanzi is departing for the United Nations General
Assembly in New York. There's been plenty of political pressure
on the PM to get an audience with Trump, but
if they meet, it's likely to be a brief encounter,
possibly an informal pull side, as they call it that's
on the sidelines of a reception Trump is hosting on
Tuesday night. There is no expectation of a formal meeting

(01:08):
at the White House or a joint press conference with
both leaders. Alberanzi has had a tough week in foreign policy,
failing to finalize agreements during visits to Vanawatu and Papi
Want New Guinea. He'll be hoping his luck changes next week. Sorry.
Number three ACIK chair Joe Longo will not seek reappointment
when his term ends in May, with the government to
find a new head at a time when the body

(01:29):
is under scrutiny over its handling of several high profile
corporate governance failures. News of Longo's departure comes after the
Australian Prudential Regulation Authority Deputy chair markret Cole also announced
she won't seek an extension to her term beyond June.
Both appointments were made under Liberal Treasurer Josh Friedenberg, and
the Alberanzi government is now searching for their replacements. Federal

(01:49):
Treasury Jim Chalmers said that since his appointment in twenty
twenty one, Longo has ever seen ASSEK during a period
of heightened economic geopolitical and technological change. Under his leadership,
ASIK has doubled its investigations and lifted civil enforcement proceedings
by twenty percent. Story numberfore Regional Express Rex the fail
day line might finally have a buyer. The AFI is

(02:12):
reporting that Nasdaq listed aircraft operator airt has put together
an offer. It needs to be approved by the government
and probably including the Prime Minister, who of course used
to be a transport minister. The deal might be announced
as soon as Monday. Airta is an air operator currently
running cargo flights, including for FedEx in the United States.
It also provides commercial aircraft trading and leasing and sells

(02:35):
jet engine parts, airframes, avionics, and logistics to the aviation industry.
And Story number five, Nvidia will spend five billion US
dollars buying a state in arch rival Intel and co
developed chips for PCs and data centers. It's a surprise decision.
An Nvideo boss Jensen Huang called it a historic collaboration

(02:56):
between the two companies. Intel we use nvidios graphics teach
knowledge in upcoming PC chips and also provide its processes
for data center products built around in Nvidio hardware. Intel's
shares search by as much as twenty six percent in
pre market training. It comes after the US government took
a ten percent stake in Intel last month. Also Japan's SoftBank,
which is committed to invest tens of billions of dollars

(03:19):
into US chip making and cloud infrastructure. It made a
two billion dollar investment last month. Intel's also raising cash
by selling assets to investors. That's it for the afternoon
report for Friday, the nineteenth September twenty twenty five. Make
sure you hit follow on the podcast. We will be
back tomorrow morning with a weekend edition of Fear and
Greed business News. I'm Chanaielma. Enjoy reading