1 00:00:04,160 --> 00:00:06,960 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,000 --> 00:00:10,320 Speaker 1: for Friday, the nineteenth of December twenty twenty five. I'm 3 00:00:10,360 --> 00:00:12,959 Speaker 1: Michael Thompson, and every afternoon we've got the five stories 4 00:00:13,000 --> 00:00:15,400 Speaker 1: that happened today that you need to know about. So 5 00:00:15,560 --> 00:00:19,079 Speaker 1: let's go with story number one. The SMPASX two hundred 6 00:00:19,120 --> 00:00:22,240 Speaker 1: closed zero point five percent higher today to eighty six 7 00:00:22,360 --> 00:00:24,880 Speaker 1: hundred and twenty eight points. Eight of the eleven sectors 8 00:00:24,920 --> 00:00:27,840 Speaker 1: gained ground. It was a good day, not enough though, 9 00:00:27,880 --> 00:00:30,760 Speaker 1: to overcome some losses earlier in the week. The ASX 10 00:00:30,800 --> 00:00:35,120 Speaker 1: two hundred was down zero point eight percent for the week, 11 00:00:35,159 --> 00:00:37,000 Speaker 1: but let's focus on today. It had a good lead 12 00:00:37,040 --> 00:00:40,040 Speaker 1: in from Wall Street, which came after renewed hopes of 13 00:00:40,120 --> 00:00:43,200 Speaker 1: more interest rate cuts in the United States. The local 14 00:00:43,280 --> 00:00:46,400 Speaker 1: tech stocks went well. Zip and Megaport were more than 15 00:00:46,440 --> 00:00:50,120 Speaker 1: three percent higher. Wistet Global climbed too, but I'll have 16 00:00:50,200 --> 00:00:52,479 Speaker 1: a bit more on that one shortly. The banks had 17 00:00:52,479 --> 00:00:54,960 Speaker 1: a good day, especially Comnwealth Bank up nearly two percent, 18 00:00:55,080 --> 00:00:58,800 Speaker 1: Westpac was one point three percent higher, NAB almost one percent. 19 00:00:58,920 --> 00:01:02,400 Speaker 1: Macquarie was up one and a half percent despite receiving 20 00:01:02,520 --> 00:01:06,480 Speaker 1: a thirty five million dollar fine from ask over misreporting 21 00:01:06,640 --> 00:01:11,280 Speaker 1: short securities sales over a fifteen year period. Drone Shield 22 00:01:11,600 --> 00:01:14,440 Speaker 1: was the best on the BOSS, up nearly twelve percent, 23 00:01:14,880 --> 00:01:17,679 Speaker 1: taking it to a hefty thirty one percent gain for 24 00:01:17,720 --> 00:01:21,240 Speaker 1: the week. Uranian miners had a cracking day, not so 25 00:01:21,520 --> 00:01:24,800 Speaker 1: the big iron are miners. Fortescue, for instance, was off 26 00:01:24,840 --> 00:01:27,600 Speaker 1: three point two percent for the day. Today on to 27 00:01:27,640 --> 00:01:30,640 Speaker 1: story number two. Now and Prime Minister Anthony Albernezi has 28 00:01:30,640 --> 00:01:34,720 Speaker 1: announced the largest gun buyback scheme in almost thirty years 29 00:01:35,080 --> 00:01:37,640 Speaker 1: as part of the crackdown on gun laws following the 30 00:01:37,680 --> 00:01:41,120 Speaker 1: Bondai Beach terror attack. The Prime Minister today said the 31 00:01:41,200 --> 00:01:44,120 Speaker 1: cost of the buyback scheme would be split with the 32 00:01:44,240 --> 00:01:48,000 Speaker 1: states and territories, with hundreds of thousands of firearms expected 33 00:01:48,040 --> 00:01:51,560 Speaker 1: to be collected and destroyed. In New South Wales, legislation 34 00:01:51,640 --> 00:01:54,160 Speaker 1: will be tabled on Monday that we'll see gun owners 35 00:01:54,200 --> 00:01:57,440 Speaker 1: in the state allowed a maximum of four firearms each. 36 00:01:57,840 --> 00:02:01,480 Speaker 1: Sajid Akram, the fifty year old gunman who was killed 37 00:02:01,480 --> 00:02:06,080 Speaker 1: by police in Bondai on Sunday, legally held six firearms 38 00:02:06,200 --> 00:02:09,600 Speaker 1: in his home. Meanwhile, the Prime Minister has declared this 39 00:02:09,680 --> 00:02:12,440 Speaker 1: Sunday will be an official day of reflection with flags 40 00:02:12,440 --> 00:02:15,720 Speaker 1: of flight half masted and Australians encouraged to light a 41 00:02:15,760 --> 00:02:19,079 Speaker 1: candle at six forty six pm to mark exactly one 42 00:02:19,120 --> 00:02:21,880 Speaker 1: week since the start of the terror attack and just 43 00:02:21,880 --> 00:02:24,840 Speaker 1: before we leave this story. Seven men arrested in Sydney 44 00:02:24,919 --> 00:02:29,560 Speaker 1: Southwest yesterday after heavily armed police rammed a vehicle have 45 00:02:29,680 --> 00:02:32,880 Speaker 1: been released from custody. New South Wales Police Commission of 46 00:02:32,880 --> 00:02:37,240 Speaker 1: Mallannion said the justification for the group's ongoing detention quote 47 00:02:37,400 --> 00:02:41,440 Speaker 1: no longer exists subject to a review of evidence. It 48 00:02:41,520 --> 00:02:43,920 Speaker 1: was earlier reporter that the men were believed to have 49 00:02:44,120 --> 00:02:48,400 Speaker 1: extremist beliefs and had potentially traveled to Sydney from Victoria, 50 00:02:48,720 --> 00:02:52,040 Speaker 1: where they were known to Victoria Police and under regular monitoring. 51 00:02:52,680 --> 00:02:55,920 Speaker 1: Story number three I mentioned WISTE Global before an internal 52 00:02:55,960 --> 00:02:59,680 Speaker 1: investigation into the company and the founder, Richard White, has 53 00:02:59,720 --> 00:03:03,920 Speaker 1: found and no evidence that the billionaire misused company funds 54 00:03:03,919 --> 00:03:07,919 Speaker 1: in his personal relationships. The Australian Financial Review reports that 55 00:03:08,000 --> 00:03:12,480 Speaker 1: the review, conducted by law firm SI fath Shaw, was 56 00:03:12,560 --> 00:03:15,680 Speaker 1: commissioned after allegations last year forced White to resign as 57 00:03:15,760 --> 00:03:20,680 Speaker 1: chief executive. It examined Wisetech's expense system and records, and 58 00:03:20,720 --> 00:03:23,480 Speaker 1: found no evidence that company money was used to fund 59 00:03:23,560 --> 00:03:27,000 Speaker 1: travel or lifestyle expenses for two women linked to White. 60 00:03:27,200 --> 00:03:29,680 Speaker 1: Wise Tech said the board would take no further action, 61 00:03:29,840 --> 00:03:33,600 Speaker 1: effectively closing the chapter on the internal review, a separate 62 00:03:33,639 --> 00:03:36,400 Speaker 1: matter raised by a former employees being handled through a 63 00:03:36,440 --> 00:03:39,840 Speaker 1: confidential process. White, who owns about thirty four percent of 64 00:03:39,880 --> 00:03:43,480 Speaker 1: Wise Tech, returned earlier this year as executive chairman. Wisetech' 65 00:03:43,520 --> 00:03:46,920 Speaker 1: share price closed more than three percent higher today. Story 66 00:03:47,000 --> 00:03:49,960 Speaker 1: number four. Donald Trump's media company is merging with a 67 00:03:50,080 --> 00:03:53,880 Speaker 1: nuclear fusion startup in a deal valued at more than 68 00:03:54,080 --> 00:03:58,480 Speaker 1: six billion US dollars, so somewhat unusual pairing linking the 69 00:03:58,520 --> 00:04:02,040 Speaker 1: president's business empire with a futuristic, clean energy play aimed 70 00:04:02,080 --> 00:04:06,240 Speaker 1: at powering artificial intelligence. Trump Media, which owns truth Social, 71 00:04:06,480 --> 00:04:09,920 Speaker 1: will merge with fusion firm TAE Technologies in an all 72 00:04:09,960 --> 00:04:13,560 Speaker 1: stock deal, creating one of the world's first publicly listed 73 00:04:13,720 --> 00:04:16,800 Speaker 1: fusion companies. The combined group says it plans to begin 74 00:04:16,880 --> 00:04:19,200 Speaker 1: work next year on what it calls the world's first 75 00:04:19,279 --> 00:04:23,800 Speaker 1: utility scale fusion power plant. Trump owns about forty one 76 00:04:23,839 --> 00:04:26,720 Speaker 1: percent of Trump Media, and the deal has added hundreds 77 00:04:26,720 --> 00:04:29,400 Speaker 1: of millions of dollars to his net worth. Critics, though, 78 00:04:29,440 --> 00:04:33,000 Speaker 1: have raised concerns about conflicts of interest given Trump's political 79 00:04:33,000 --> 00:04:37,400 Speaker 1: influence and the heavy regulation required to commercialize fusion energy. 80 00:04:38,040 --> 00:04:40,320 Speaker 1: And finally, story number five, This one, I suppose you 81 00:04:40,320 --> 00:04:43,840 Speaker 1: would say is business news adjacent, but it is Friday 82 00:04:43,880 --> 00:04:47,479 Speaker 1: afternoon after all. Kristin Cabot, who is the former HR 83 00:04:47,600 --> 00:04:51,400 Speaker 1: chief caught on a cold play kiss cam with her CEO, 84 00:04:51,839 --> 00:04:54,520 Speaker 1: has spoken publicly for the first time about the fallout 85 00:04:54,600 --> 00:04:58,599 Speaker 1: from that very viral moment. Speaking to The New York Times, 86 00:04:58,880 --> 00:05:02,320 Speaker 1: Cabot says that both she and her then boss, astronomer 87 00:05:02,640 --> 00:05:06,680 Speaker 1: CEO Andy Byron, were separated from their partners at the 88 00:05:06,720 --> 00:05:08,400 Speaker 1: time of the incident. She went on to say that 89 00:05:08,440 --> 00:05:10,840 Speaker 1: she was not in a physical relationship with her boss 90 00:05:10,839 --> 00:05:13,800 Speaker 1: at the time, and described the incident as a single 91 00:05:14,000 --> 00:05:17,960 Speaker 1: alcohol fueled mistake that cost her career and upended her 92 00:05:18,000 --> 00:05:21,320 Speaker 1: family life. She says she was subjected to intense online abuse, 93 00:05:21,680 --> 00:05:25,600 Speaker 1: death threats, and relentless harassment after the footage went viral. 94 00:05:25,920 --> 00:05:28,120 Speaker 1: It really is quite a harrowing account of what she 95 00:05:28,200 --> 00:05:31,040 Speaker 1: went through in the days afterwards. Cabot resigned from her 96 00:05:31,120 --> 00:05:33,839 Speaker 1: role shortly after the incident, and said she spoke to 97 00:05:33,880 --> 00:05:36,760 Speaker 1: The New York Times to reclaim her narrative, particularly for 98 00:05:36,800 --> 00:05:40,680 Speaker 1: her children. She says accountability matters, but the scale of 99 00:05:40,720 --> 00:05:44,360 Speaker 1: public shaming did not fit the mistake. And that's it 100 00:05:44,400 --> 00:05:47,200 Speaker 1: for the Afternoon Report for Friday, the nineteenth of December. 101 00:05:47,400 --> 00:05:50,160 Speaker 1: Make sure you're following the podcast. I'm Michael Thompson. Enjoy 102 00:05:50,200 --> 00:05:50,640 Speaker 1: your evening.