Afternoon Report | ASX longest losing streak since 2022
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What is the main topic discussed in this episode?
Welcome to the Fear and Greed Business News Afternoon Report for Tuesday, the 28th of April, 2026. I'm Michael Thompson, and every afternoon we've got the five stories that happened today that you need to know about. Let's go.
Why did the ASX experience its longest losing streak since 2022?
Story number one, the S&P ASX 200 fell 0.6% today. That is a sixth straight decline, the longest losing streak since 2022.
10 of the 11 sectors were lower today as rising oil prices and ongoing geopolitical uncertainty which is a very familiar story now it's all weighing on sentiment brent crude climbed for a seventh consecutive session to above 110 us dollars a barrel utilities locally were among the worst performers today led by origin energy off almost four percent and agl down one and a half percent the gold miners also declined the price of the precious metal fell and that saw Newmont dip 4.5%, Northern Star and Evolution both close about 3% lower today. There were a few pockets of strength. However, lithium stocks rallied on upgraded price forecasts.
What are the implications of Grant Thornton's $800 million deal?
PLS, Mineral Resources and Liontown Resources were all up between 3% and 4% today. The banks, though, were mixed and Domino's Pizza dropped more than 10% after the US Domino's tumbled 9% following disappointing first quarter results. On to story number two now, and the Board of Accounting, Audit and Tax Group, Grant Thornton, has agreed to sell the business to the private equity-controlled American business of the same name. New York-based Grant Thornton Advisors will buy Grant Thornton Australia in what is a pretty major shake-up of the local accounting sector. Media is reporting the deal to be worth more than $800 million, which would be private equity's largest foray into the local accounting market.
What challenges does the AUKUS submarine pact currently face?
The payout to the almost 200 local partners will be part cash, part equity and pretty sizable. Grant Thornton Australia has been courting buyers really since late last year. Several professional service firms are shifting away from the traditional partnership models, even the big four actually, PwC, EY, KPMG and Deloitte have reduced the number of partners in the firms. Story number three, a British parliamentary inquiry has warned that the AUKUS submarine pact is at risk because of funding shortfalls, leadership failures and delays in the UK. The House of Commons Defence Committee says that the program could be derailed unless UK Prime Minister Keir Starmer takes a more visible role in driving it forward.
Australia is relying on the UK to design and build the first SSN AUKUS nuclear-powered submarine before construction begins in Adelaide for delivery in the early 2040s.
How is the Victorian government addressing teacher pay disputes?
The Australian newspaper reports that the committee warns that funding for upgrades at the shipyard where the British submarines will be built has already slipped. And even the first stage of the plan, which is just increasing UK nuclear submarine visits to Australia, or LATs already placed severe pressure on an overstretched Royal Navy, the committee has recommended an AUKUS visa to speed up the movement of skilled workers between Australia, the UK and the US, warning that delays could cause key milestones to be missed. Story number four, the Victorian government is preparing to offer the state's 52,000 teachers a 28% pay rise over four years in a bid to head off further strikes before the November election.
It follows major disruption last month when more than 30,000 teachers, principals and education support staff walked off the job for the first time in 13 years. Teachers had been seeking 35% over three years while the government's initial offer was
What is the significance of the 30th anniversary of the Port Arthur massacre?
was 17% over four years, so a fair gap between them. Now, according to the reports in the Financial Review, the government is planning a 28% pay rise over that four-year period. Deputy Premier and Education Minister Ben Carroll has told Cabinet the revised offer was fiscally sustainable and would make Victorian teachers the highest paid in the country. The dispute has been running since July of last year. And finally, story number five, a very sober occasion today, Australia marking 30 years since the Port Arthur Massacre, the country's deadliest mass shooting in modern history.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:06–0:17
2
Why did the ASX experience its longest losing streak since 2022?
0:17–1:10
3
What are the implications of Grant Thornton's $800 million deal?
1:10–1:56
4
What challenges does the AUKUS submarine pact currently face?
1:56–2:55
5
How is the Victorian government addressing teacher pay disputes?
2:55–3:55
6
What is the significance of the 30th anniversary of the Port Arthur massacre?
3:55–5:22