FEAR & GREED | Business News Afternoon Report | RBA cuts rates
May 20, 2025
The Australian stock market closes higher as the Reserve Bank of Australia cuts interest rates. AustralianSuper makes a surprising move by investing in coal, prompting discussions on energy investments. TechnologyOne experiences a significant rise, while Kogan faces a slump in performance. Meanwhile, a potential Trump-Putin meeting stirs up speculation and interest in international relations, highlighting its influence on global business dynamics.
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RBA Rate Cut and Economy
- The Reserve Bank of Australia cut the official cash rate by 25 basis points and left the door open for further cuts.
- The RBA is confident inflation is returning to target but notes sluggish household activity affecting economic growth.
Coal Investment Controversy
- AustralianSuper reinvested in Whitehaven Coal, aligning with a net zero emissions goal by 2050.
- Environmentalists view the investment as contradictory and insulting to fund members.
Technology One's Strong Performance
- Technology One reported a 30% net profit increase and will pay a record dividend.
- Its share price doubled in the last year amid upgraded profit guidance and high demand for its business software.