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

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Speaker 1: for Monday, the eleventh of November twenty twenty four. I'm

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Speaker 1: Sean A. Elmer. Every afternoon, we've got the five stories

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Speaker 1: that happened today that you need to know about. Storingum one.

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Speaker 1: The SMPASX two hundred finished down zero point three five

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Speaker 1: percent today to one thousand, two hundred and sixty six points.

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Speaker 1: An underwhelming response to Chinese government stimulus over the weekend

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Speaker 1: sent the price of iron all lower, and the big

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Speaker 1: miners followed fortyesqu middles Group finished down at more than

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Speaker 1: seven percent, BHP was off four percent. Rio Tinto was

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Speaker 1: down three percent. The best of the large caps were

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Speaker 1: Goodman Group, the industrial property company, Weis Tech Global, and

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Speaker 1: Ria Group. Instec Pivots share price jumped slightly zero point

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Speaker 1: three percent, despite recording a three hundred and eleven million

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Speaker 1: dollar loss in the year to the end of September.

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Speaker 1: The loss was due to the impairment of the group's

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Speaker 1: fertilizer business, which it's been trying to sell for quite

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Speaker 1: some time now. DP World Australia made a bid for

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Speaker 1: a small cap business called Silk Logistics. It's share price

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Speaker 1: jump to forty percent and pe group Genesis Capital up

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Speaker 1: to its bid for dental company Pacifics Miles Strowing Number two.

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Speaker 1: The latest news poll shows that primary support for the

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Speaker 1: Coalition federally is rising and Opposition leader Peter Duntey is

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Speaker 1: getting closer but still remains behind Anthony Alberzi as preferred

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Speaker 1: prime minister. The poll for The Australian says the coalition's

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Speaker 1: primary vote has risen two percentage points to forty percent.

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Speaker 1: That means coalition can be competitive in the next election

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Speaker 1: during the middle of May. Now, ALP's primary vote is

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Speaker 1: also up two percent to about thirty three percent, but

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Speaker 1: they get many of the preferences from the Greens. Hence

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Speaker 1: the Coalition needs to be well in front of ALP

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Speaker 1: on the primary vote. Broadly, the News pole shows a

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Speaker 1: drop in support to independence and minor parties places like

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Speaker 1: One Nation. On a two party preferred basis, it's fifty

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Speaker 1: one to forty nine percent to the Coalition, and in

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Speaker 1: terms of the preferred prime minister, Anthony Alberanzi is at

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Speaker 1: forty five percent and Peter Dunton forty one percent. Story

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Speaker 1: number three. More details have emerged over the detention of

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Speaker 1: Resolute Mining CEO in Mali, Terry Hollahan, and two executives

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Speaker 1: were arrested on Friday. They were detained by the country's

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Speaker 1: Anti corruption and Financial Crimes Unit. In a statement yesterday,

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Speaker 1: Resolute Mining said the executives were in Mali and I

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Speaker 1: quote to hold discussions with the mining and tax authorities

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Speaker 1: regarding general activities related to the company's business practices in Mali,

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Speaker 1: in addition to progressing open claims which have been made

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Speaker 1: against Resolute and which the company maintains are unsubstantiated and

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Speaker 1: quote the Australians reporting that the Maley government may want

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Speaker 1: between seventy five million dollars and two hundred and fifty

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Speaker 1: million dollars from Resolute Mining. Milian President Asmi Gouita, who

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Speaker 1: has just promoted himself to five star general status, has

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Speaker 1: introduced a new mining code that allows the state to

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Speaker 1: acquire up to thirty percent of projects and requires all

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Speaker 1: foreign needs to renegotiate existing contracts. It sounds like mister

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Speaker 1: Hollahand has been caught up in that story. Number four

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Speaker 1: struggling Battery Minerals group Linetown Resources is scaling back production

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Speaker 1: plans at it's Kathleen Valley lithium mine in Western Australia.

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Speaker 1: Just three months after opening the operation. The company has

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Speaker 1: cut its production plans and in two years time will

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Speaker 1: be producing about two thirds the amount of lithium it

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Speaker 1: had forecast. On the back of tumbling lithium prices. CEO

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Speaker 1: Tony Attaviano said when market conditions change, companies need to adapt,

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Speaker 1: hence that's what they're doing. He said he wants to

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Speaker 1: focus on higher margin lithium. The Gena reinhart Back Lintown

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Speaker 1: has off take deals with Ford and Tesla and South

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Speaker 1: Kore's LG Energy. Its share price rose one percent on

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Speaker 1: the news, but it's off about fifty percent so far

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Speaker 1: this year and story at number five. The Washington Post

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Speaker 1: is reporting that Donald Trump has spoken to Vladimir Putin

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Speaker 1: and urged the Russian president not to escalate the war

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Speaker 1: in Ukraine. Is the first core between the two men

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Speaker 1: in the US poll last week. Washington Post is saying

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Speaker 1: that mister Trump reminded mister Putin of the US's sizeable

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Speaker 1: military presence in Europe. Trump discussed the goal of peace

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Speaker 1: on the European continent, and he expressed an interest in

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Speaker 1: follow up conversations. He has also spoken to Ukrainian President

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Speaker 1: Vladimir Zelenski. Apparently, in that call, Elon Musk joined in.

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Speaker 1: Not sure why. That's it for the Afternoon Report for Monday,

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Speaker 1: the eleventh of November twenty twenty four. Don't forget tip

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Speaker 1: follow on the podcast and find Fear and Greed on LinkedIn, Instagram,

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Speaker 1: x TikTok and Facebook. Join Adam Lang and I tomorrow

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Speaker 1: morning for the Fast Five by Fear and Greed, the

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Speaker 1: top five business stories you need to know in just

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Speaker 1: five minutes. I'm Shane elma Enjoy reading