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

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Speaker 1: Report for Tuesday, the nineteenth of November twenty twenty four.

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Speaker 1: I'm Sean Aylmer. Every afternoon, We've got five stories that

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

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Speaker 1: The SMPASX two hundred closed up nearly one percent today

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Speaker 1: to eight thousand, three hundred and seventy four points, having

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Speaker 1: earlier in the day hit an all time high of

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Speaker 1: eight four hundred and forty six points. The tech stocks

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Speaker 1: led the way, following a strong leading from Wall Street.

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Speaker 1: The Tech index ended up more than three percent. The

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Speaker 1: big banks also did well, with the Commonwealth Bank up

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Speaker 1: nearly two percent. In corporate news, Technology one surged more

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Speaker 1: than ten percent after the enterprise software company said netprof

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Speaker 1: the year ending thirty September was up fifteen percent. Newmont,

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Speaker 1: which bought local gold producer New Crest, surged after a

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Speaker 1: degree to sell a mine in Canada. Cam d Brands

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Speaker 1: that's the one that owns CapMan Do and Rip Call

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Speaker 1: It said it's cautious on consumer sentiment amid challenging It

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Speaker 1: was down two percent and among the large caps of

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Speaker 1: jump and oil prices pushed Woodside and Santos higher. The

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Speaker 1: high oral price came on the back of geopolitical tensions.

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Speaker 1: Story number two. The AFI has released its list of

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Speaker 1: the top one hundred accounting firms in the country, and

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Speaker 1: while the big four have struggled, the next level of

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Speaker 1: firms are benefiting turmoil for the sector over the past

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Speaker 1: twelve months, especially PwC, where a senior tax partner had

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Speaker 1: leaked government information that helped clients avoid tax hit that

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Speaker 1: firm its revenue fell twenty five percent. It's fallen from

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Speaker 1: number one spot to number three. Top spot went to Deloitte,

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Speaker 1: then e Y, PwC and KPMG. The next five top

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Speaker 1: accountants in terms of revenue. They might not be household names,

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Speaker 1: but they're doing very well. Bdo Fine, Dex, RSM Australia,

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Speaker 1: Grand Thornton and Picture Partners storing number three oil giants.

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Speaker 1: Santos will boost returns to shareholders once its major projects

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Speaker 1: in Alaska and the tm or C come online in

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Speaker 1: twenty twenty six. Sixty percent of free cash flow should

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Speaker 1: go to shareholders in terms of dividends or share buybacks,

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Speaker 1: compared to forty percent. Now that a pressure from institutional

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Speaker 1: investors on the oil and gas company. They're not happy

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Speaker 1: with returns. There's been ongoing speculation about corporate maneuvering. Last

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Speaker 1: year it explored a merged with Woodside, which didn't get

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Speaker 1: off the ground. There's also been speculation of other global

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Speaker 1: players buying Santos. Now it's got two big projects. The

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Speaker 1: Barosso gas project then team will see that's due to

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Speaker 1: come online in the September quarter next year, than the

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Speaker 1: Packo oil project in Alaska that's supposed to come online

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Speaker 1: in the first half of twenty twenty six. Hence, the

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Speaker 1: company has now come out and said it's going to

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Speaker 1: pay out sixty percent of free cash flow to try

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Speaker 1: and keep shareholders happy. Its share price was up today,

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Speaker 1: but a couple of weeks ago it was at its

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Speaker 1: lowest point since early twenty twenty two straightum before Hong

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Speaker 1: Kong's High Court today sentenced forty five pro democracy activists,

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Speaker 1: including Australia Gordon Ung, to jail terms of up to

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Speaker 1: ten years in a landmark national security trial. The decision

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Speaker 1: further damages the city's one strong democracy movement and has

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Speaker 1: drawn international condemnation. According to Bloomberg, a total of forty

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Speaker 1: seven pro democracy activists were arrested and charged in twenty

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Speaker 1: twenty one with conspiracy to commit subversion under a Beijing

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Speaker 1: imposed national security law. They'd faced sentences of up to

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Speaker 1: life in prison. The sentences in the end ranged from

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Speaker 1: four years to ten years. Mister Ung was jailed for

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Speaker 1: seven years and three months. The so called organizer of

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Speaker 1: the forty seven pro democracy activists received ten years. The

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Speaker 1: charges relate to the organizing of an unofficial primary election

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Speaker 1: in twenty twenty to select the best candidates for an

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Speaker 1: upcoming legislative election. The activists were accused by prosecutors of

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Speaker 1: plotting to paralyze the government by engaging in potentially desruptive

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Speaker 1: acts had they been elected. Finally, story number five g

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Speaker 1: twenty nations have called for taxation on the super rich,

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Speaker 1: measures to alleviate property, and a ceasefire in Gaza. After

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Speaker 1: two days of meeting in Rio di Janeiro, the group

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Speaker 1: came out with a somewhat watered down statement. Now the

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Speaker 1: host Brazil has been pushing a two percent tax on

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Speaker 1: the world's billionaires to generate more than three hundred billion

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Speaker 1: dollars to help alleviate property and climate change. Argentina quickly

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Speaker 1: withdrew support on that one that denied a consensus on it,

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Speaker 1: but the statement did call for climate finance to increase

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Speaker 1: from billions of dollars to trillions of dollars. That's it

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Speaker 1: the Austernoon Report for Tuesday, the nineteenth of November twenty

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Speaker 1: twenty four. Adam Lang and I will be back tomorrow

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Speaker 1: morning with the Wednesday edition off Heer and Greed business News.

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Speaker 1: I'm chanelma Joey Reavening