1 00:00:04,200 --> 00:00:06,840 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,880 --> 00:00:09,560 Speaker 1: for Monday, the ninth of December twenty twenty four. I'm 3 00:00:09,560 --> 00:00:12,600 Speaker 1: Sean Elmer. Every afternoon, we've got the five stories that 4 00:00:12,760 --> 00:00:14,920 Speaker 1: happened today that you need to know about. Storingham one 5 00:00:15,040 --> 00:00:18,520 Speaker 1: there and PASX two hundred closed flat today. It was 6 00:00:18,560 --> 00:00:22,120 Speaker 1: actually trading lower all day than spiked right on four 7 00:00:22,160 --> 00:00:25,079 Speaker 1: pm to finish at eighty two hundred and forty three 8 00:00:25,120 --> 00:00:28,960 Speaker 1: points by the close. The consumer discretionary stocks did best, 9 00:00:29,040 --> 00:00:31,800 Speaker 1: while energy companies were among the worst. Not a great 10 00:00:31,880 --> 00:00:34,440 Speaker 1: day for the big miners, with lower iron ore prices 11 00:00:34,479 --> 00:00:38,159 Speaker 1: feeding through to their share prices. Fortesqu Metals Group ended 12 00:00:38,159 --> 00:00:40,519 Speaker 1: the day down more than one percent. Goodman Group did well, 13 00:00:40,600 --> 00:00:42,479 Speaker 1: jumping nearly four percent. It was the best of the 14 00:00:42,479 --> 00:00:45,480 Speaker 1: top two hundred and is up sixty four percent over 15 00:00:45,479 --> 00:00:49,320 Speaker 1: the past year. Worst was Life three sixty it tumbled 16 00:00:49,360 --> 00:00:52,840 Speaker 1: eight percent. Star Entertainment hit a new record lower today, 17 00:00:52,920 --> 00:00:56,600 Speaker 1: having given a trading update after markets closed on Friday. 18 00:00:57,040 --> 00:00:59,959 Speaker 1: The update said the Queensland Government will defer the suspension 19 00:01:00,120 --> 00:01:02,560 Speaker 1: of the license for the Star Gold Coast Casino to 20 00:01:02,640 --> 00:01:05,640 Speaker 1: March thirty one, from the earlier deadline. Of December. The 21 00:01:05,680 --> 00:01:08,880 Speaker 1: special manager's appointment to Star has also been extended to 22 00:01:08,959 --> 00:01:12,440 Speaker 1: June thirty. Sonic Health Caredience today said it will buy 23 00:01:12,480 --> 00:01:15,680 Speaker 1: a German lab group for seven hundred million dollars. Fund 24 00:01:15,680 --> 00:01:18,840 Speaker 1: manager Regal Partners walked away from a takeover of Platinum 25 00:01:18,840 --> 00:01:23,399 Speaker 1: Asset Management that sent the Platinum's share price down fifteen percent, 26 00:01:23,959 --> 00:01:27,680 Speaker 1: and GQG Partners jumped seven percent after reporting higher funds 27 00:01:27,760 --> 00:01:31,080 Speaker 1: under management and said it's terminating a buyback due to 28 00:01:31,160 --> 00:01:35,280 Speaker 1: uncertainty around the US tax treatment on market buybacks. Story 29 00:01:35,360 --> 00:01:39,679 Speaker 1: number two. Prime Minister Anthony Alberanezi and NIRU President David 30 00:01:39,800 --> 00:01:43,399 Speaker 1: Adiang have signed a new treaty providing one hundred million 31 00:01:43,440 --> 00:01:46,840 Speaker 1: dollars for the Nhuru budget and forty million dollars to 32 00:01:46,959 --> 00:01:51,360 Speaker 1: enhance policing, security, training and infrastructure over five years. As 33 00:01:51,440 --> 00:01:54,320 Speaker 1: part of the deal, the Commonwealth Bank will provide banking 34 00:01:54,400 --> 00:01:59,120 Speaker 1: support from next year after Bendigab Bank departs. Mister Albanesi 35 00:01:59,160 --> 00:02:03,160 Speaker 1: said the treaty under scores the commitment to strengthening civic relations, 36 00:02:03,200 --> 00:02:06,720 Speaker 1: making the region stronger and safeter. Mister Addiank said the 37 00:02:06,760 --> 00:02:10,440 Speaker 1: treaty would strengthen eru's economy and address critical challenges such 38 00:02:10,440 --> 00:02:13,920 Speaker 1: as e banking. Story number three. Opposition leader Peedi Dutton's 39 00:02:13,919 --> 00:02:19,000 Speaker 1: signature nuclear energy policy is in trouble after the CSIRO 40 00:02:19,440 --> 00:02:22,640 Speaker 1: found that wind and solar remain the lowest cost form 41 00:02:23,000 --> 00:02:26,359 Speaker 1: of new power generation. Mister Dutton's been pushing a policy 42 00:02:26,400 --> 00:02:30,680 Speaker 1: including seven nuclear reactors across the country to provide carbon 43 00:02:30,760 --> 00:02:33,320 Speaker 1: free electricity. The first is due to come online in 44 00:02:33,360 --> 00:02:35,440 Speaker 1: the middle of the next decade, or at least that's 45 00:02:35,480 --> 00:02:39,000 Speaker 1: what the opposition hopes. CSIRA has already concluded that the 46 00:02:39,040 --> 00:02:42,400 Speaker 1: policy would be too expensive and slow relative to other options. Today, 47 00:02:42,440 --> 00:02:44,720 Speaker 1: it updated at its research pretty much said the same thing. 48 00:02:45,080 --> 00:02:48,600 Speaker 1: Mister Dutton is expected to this week release full costings 49 00:02:48,600 --> 00:02:52,320 Speaker 1: of his nuclear policy. Today's report says the first large 50 00:02:52,400 --> 00:02:56,120 Speaker 1: nuclear reactor could not produce electricity in Australia until twenty 51 00:02:56,200 --> 00:02:59,119 Speaker 1: forty at the earliest, and at a cost per unit 52 00:02:59,160 --> 00:03:02,320 Speaker 1: of generation i've been between one hundred and forty five 53 00:03:02,360 --> 00:03:06,320 Speaker 1: dollars and two hundred and thirty eight dollars, well above renewables. 54 00:03:06,760 --> 00:03:09,760 Speaker 1: Costs for a small modulate reactor would be even higher 55 00:03:09,800 --> 00:03:11,680 Speaker 1: one hundred and eighty nine to four hundred and fourteen 56 00:03:11,720 --> 00:03:15,720 Speaker 1: dollars per megawatt hour. According to the report. Story number four, 57 00:03:15,840 --> 00:03:18,560 Speaker 1: Woolli's said it lost about one hundred and forty million 58 00:03:18,600 --> 00:03:21,400 Speaker 1: dollars in food sales due to the seventeen day strike 59 00:03:21,840 --> 00:03:24,880 Speaker 1: at its distribution centers in New South Wales and Victoria, 60 00:03:25,200 --> 00:03:28,280 Speaker 1: and earnings will be down by about sixty million dollars. 61 00:03:28,320 --> 00:03:31,519 Speaker 1: But Coles has the opposite problem with too many customers. 62 00:03:31,840 --> 00:03:34,840 Speaker 1: Apparently there's been a shift from shoppers towards coals because 63 00:03:34,840 --> 00:03:37,600 Speaker 1: Wooly's shelves have been understocked. According to a report in 64 00:03:37,600 --> 00:03:41,360 Speaker 1: The Australian, Coles has asked suppliers to ship more goods 65 00:03:41,680 --> 00:03:44,320 Speaker 1: and has put on more people to handle the extra volumes. 66 00:03:44,440 --> 00:03:47,400 Speaker 1: It's also open more checkouts to deal with the higher demand. 67 00:03:47,960 --> 00:03:50,320 Speaker 1: Wilies really can't like that news. It now has to 68 00:03:50,320 --> 00:03:53,840 Speaker 1: spend the next couple of weeks restocking ahead of Christmas. 69 00:03:54,040 --> 00:03:57,240 Speaker 1: The warehouse staff returned to work after they got an 70 00:03:57,240 --> 00:03:59,680 Speaker 1: eleven per cent pay rise over three years and changes 71 00:03:59,720 --> 00:04:03,160 Speaker 1: to work practices and finding. Story number five. President Joe 72 00:04:03,160 --> 00:04:07,200 Speaker 1: Biden said the United States has used military forces to 73 00:04:07,400 --> 00:04:11,160 Speaker 1: conduct air strikes in Syria to keep the Islamic State 74 00:04:11,200 --> 00:04:14,920 Speaker 1: Group from reasserting itself after the fall of President Bashir 75 00:04:15,120 --> 00:04:18,680 Speaker 1: al Assad's government. Speaking at the White House, mister Biden 76 00:04:18,760 --> 00:04:22,240 Speaker 1: celebrated Assad's fall as a fundamental act of justice and 77 00:04:22,320 --> 00:04:25,520 Speaker 1: expressed hope that after decades of oppressor rule, the people 78 00:04:25,520 --> 00:04:29,600 Speaker 1: of Syria could build a new, free society. But according 79 00:04:29,600 --> 00:04:31,240 Speaker 1: to The New York Times, he warned that it was 80 00:04:31,240 --> 00:04:34,560 Speaker 1: also a moment of risk and uncertainty, and that his 81 00:04:34,600 --> 00:04:38,080 Speaker 1: administration would strive in its final days to prevent terrorists 82 00:04:38,120 --> 00:04:43,000 Speaker 1: from regaining traction. Meanwhile, ousted Syrian president mister Asad and 83 00:04:43,040 --> 00:04:46,880 Speaker 1: his family have reportedly fled to Moscow, where the dictator's 84 00:04:46,920 --> 00:04:50,800 Speaker 1: chief ally Russian President Vladimir Putin, has given them asylum. 85 00:04:51,200 --> 00:04:53,520 Speaker 1: As if the Afternoon Report for Monday, the ninth of 86 00:04:53,560 --> 00:04:55,960 Speaker 1: December twenty twenty four, make sure you hit follow on 87 00:04:56,000 --> 00:04:58,080 Speaker 1: the podcast. We will be back to orow morning with 88 00:04:58,120 --> 00:05:00,799 Speaker 1: each Tuesday edition of the Fast five. This is used 89 00:05:00,800 --> 00:05:04,200 Speaker 1: by Fear and Greed. I'm sure Elma enjoy your evening.