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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Friday, the fourteenth of March twenty twenty five. I'm

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Speaker 1: suan Alma. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Stro Number one,

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Speaker 1: Prime Minister Anthony Alberanzi will participate in a meeting with

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Speaker 1: world leaders organized by UK Prime Minister Keir Starmer to

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Speaker 1: discuss peace in Ukraine. New Zealand and Canada's prime ministers

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Speaker 1: as well as other European leaders, will participate in the

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Speaker 1: phone hook up this weekend. Prime Minister Alberanese has said,

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Speaker 1: and I quote I look forward to re engaging with

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Speaker 1: President Zelenski with other Democratic leaders as well. I won't

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Speaker 1: preempt what comes out of that meeting, but Australia has

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Speaker 1: of course stood with Ukraine since the beginning of this process.

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Speaker 1: The big question is whether Australia will be asked to

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Speaker 1: send troops to the Ukraine, and even bigger is the answer.

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Speaker 1: Story Number two. The Commonwealth Grant's Commission has released the

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Speaker 1: latest proposed g DST Carver, a process which always triggers

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Speaker 1: outcries among the states. Victoria will receive more GST revenue

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Speaker 1: than it nationally raises. In twenty twenty four to twenty five,

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Speaker 1: it received ninety six cents in the dollar of GST back,

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Speaker 1: but next financial year that will increase to eight dollar

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Speaker 1: in seven cents. The main reason is its lower capacity

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Speaker 1: to raise mining revenue relative to the main mining states

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Speaker 1: and its higher relative state population growth. Queensland looks to

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Speaker 1: be the biggest loser. Its GST relativity will fall from

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Speaker 1: ninety five cents to eighty five cents, while New South

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Speaker 1: Wales goes from eighty six point seven cents back to

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Speaker 1: eighty six cents. Western Australia now has a guaranteed GST

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Speaker 1: floor of seventy five cents in the dollar. The Commission

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Speaker 1: said that the state is estimated to receive six billion

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Speaker 1: dollars in additional GST payments next financial lear. That's more

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Speaker 1: than under the previous GST distribution arrangements. Story number three.

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Speaker 1: The federal government has thrown its support behind beef and

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Speaker 1: wine producers as the United States three to expand tariffs

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Speaker 1: to agricultural products. Tariffs of twenty five percent on steel

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Speaker 1: and aluminium have already come into effect, and billions of

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Speaker 1: dollars in AUSSI beef and wine could be next on

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Speaker 1: the chopping block. Trade Minister Don Farrell spoke to US

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Speaker 1: Commerce Secretary Howard Lutnik this morning and said afterwards that

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Speaker 1: he'll stand with beef, wine and other agricultural exporters to

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Speaker 1: protect their interests. US President Donald Trump overnight pledged to

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Speaker 1: protect American agriculture and threatened two hundred percent tariffs on

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Speaker 1: European wine in response to that region putting fifty percent

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Speaker 1: tariffs on American whiskey. There is still limited information from

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Speaker 1: the Trump administration on any potential agricultural tariffs. Will be

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Speaker 1: waiting with baited breath for that one story. Number four.

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Speaker 1: Higher iin are prices help lift the share market today,

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Speaker 1: with SMPASX two hundred closing up half percent to seven

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Speaker 1: seven hundred and eighty nine points. It's a good day

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Speaker 1: for the local market, particularly since Wall Street fell overnight

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Speaker 1: and is now at its lowest point since September last year.

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Speaker 1: YEA for the week, the market was down two percent.

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Speaker 1: Iron ore prices rose to one hundred and two us

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Speaker 1: I was a ton overnight, helping Baje p routes into

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Speaker 1: and forty SECUW Metals Group one commodity losing ground is

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Speaker 1: oil after OPET warned of a potential oversupply that hit

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Speaker 1: a number of energy stocks here, including Woodside and mpole.

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Speaker 1: The price of goals hit a new record reached two thousand,

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Speaker 1: nine ninety dos and two US cents this morning. That's

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Speaker 1: an ounce, of course, it reflects fears of a global

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Speaker 1: slowdown and an outbreak of inflation. Goals are safe haord

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Speaker 1: in times of trouble, and its appreciation doesn't really auger

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Speaker 1: that well for the economic outlook. The new record sent

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Speaker 1: share prices of local gold stocks high, with Newmont west Gold,

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Speaker 1: Northern Star, Regis Resources, and Evolution Mining au rising sharply

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Speaker 1: and story a number five. Russian President Vladimir Putin said

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Speaker 1: he agreed with the idea of a ceasefire in Ukraine,

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Speaker 1: but questions remain about the nature of a truce, and

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Speaker 1: he set out a number of tough conditions. The Russian

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Speaker 1: president was responding to a plan for a thirty day

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Speaker 1: seas fire with Ukraine agreed to earlier this week after

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Speaker 1: talks with the US. Ukrainian President Vladimir Zelenski described Putin's

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Speaker 1: response to the plan as manipulative and called for more

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Speaker 1: sanctions on Russia, according to the BBC. Meanwhile, the US

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Speaker 1: placed further sanctions on Russian oil, gas, and banking sectors.

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Speaker 1: Speaking at a news conference in Moscow, Putins said of

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Speaker 1: the ceasefire proposal, the idea is right and we support it,

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Speaker 1: but there are questions that we need to discuss. A

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Speaker 1: ceasefire should lead to an enduring piece, he said, and

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Speaker 1: remove the root causes of this crisis. That's it for

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Speaker 1: the afternoon report for Friday, the fourteenth of March twenty

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Speaker 1: twenty five. Make sure you hit follow on the podcast.

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Speaker 1: We'll be back tomorrow morning with the weekend edition of

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Speaker 1: Fear and Greed Business News. I'm Sean Elmer. Enjoy your evening,