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Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Thursday,

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Speaker 1: the sixth of March twenty twenty five. I'm suan alma.

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Speaker 1: Every afternoon, we've got the five stories that happen today

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Speaker 1: that you need to know about. Sorry number one. The

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Speaker 1: local share market closed down a little over half a

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Speaker 1: percent today, with a run of ex dividend dates weighing

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Speaker 1: on the burse. Oil prices have fallen to a three

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Speaker 1: year low, triggering a sell off in energy stocks. Woodside

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Speaker 1: when ex dividend and had that lower oil price on it,

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Speaker 1: its share price fell five percent, while Santos and m

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Speaker 1: Pol we're down around two percent. In corporate news, Regenerative

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Speaker 1: Medicines that developer Miso Blast is now part of the

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Speaker 1: S and P ASX two hundred was in a great

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Speaker 1: day that day one. It's share price fell eight percent.

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Speaker 1: Mesoblast replaces arcadium lithium, which has been bought by Rio

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Speaker 1: Tinto away from equities. The hard line that Trump administration

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Speaker 1: is taking on tariffs hit the green back, pushing the

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Speaker 1: Aussie dollar high. It's trading around sixty three point five

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Speaker 1: US sinse. Sorry number two. The predancial regulator is overhauling

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Speaker 1: rules applying to the boards of financial service companies, forcing

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Speaker 1: directors to step down after ten years. The Australian Financial

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Speaker 1: Regulation Authority looks after banks, insurance and super annuation funds.

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Speaker 1: It also wants to have a better say, or at

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Speaker 1: least a greater say in succession planning. Six years after

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Speaker 1: the Haine Royal Commission, Apachair John Lonsdale said he sees

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Speaker 1: areas of weakness, including entities treating compliance with some requirements

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Speaker 1: as a box taking exercise. He doesn't like that new

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Speaker 1: rules would have a ten year limit for directors, meaning,

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Speaker 1: for example, that National Australia Bank chair Phil Chronicle would

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Speaker 1: have to step down next year. APPRA also wants to

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Speaker 1: be informed on succession planning. Presumably it's got an eye

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Speaker 1: on what's going on in the superannuation industry on that one.

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Speaker 1: Sorry Number three m calls share price for one and

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Speaker 1: a half percent today after it unveiled plans to reorganize

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Speaker 1: its business following its neen billion dollar purchase of US

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Speaker 1: based at Berry Global and Core and Berry both got

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Speaker 1: shareholder support for the deal over the past week. The

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Speaker 1: new business will have two main parts, Global Flexibles in

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Speaker 1: Global closures and Containers. The packaging Giant also said it's

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Speaker 1: on hunt for new leaders for those two businesses and

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Speaker 1: potentially a new CFO. The merger is set to create

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Speaker 1: a company with four hundred packaging plants and seventy five

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Speaker 1: thousand staff around the world. Sorry number four. Gold companies

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Speaker 1: are having a good time of it at the moment,

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Speaker 1: and today West African Resources share price jumped twelve percent

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Speaker 1: after it said it was targeting much high gold production

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Speaker 1: over the next year. It was the best performer of

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Speaker 1: the ASEX two hundred. Today. West African Resources is constructing

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Speaker 1: a gold mine at Kiaka and the first gold is

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Speaker 1: expected this year. Now Kiaka is in the Kina Faso,

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Speaker 1: West Africa already has a mine there and is hoping

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Speaker 1: to get this one on board. Its forecasting production of

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Speaker 1: four million ounces of gold over the next ten years.

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Speaker 1: Sorry number five. The rhetoric between China and US is escalating,

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Speaker 1: with US Defense Secretary Peter Hegsath hitting back at Beijing's

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Speaker 1: saber rattling over a widening trade war between the superpowers.

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Speaker 1: Mister Hegsath said the US was prepared to engage in

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Speaker 1: conventional battle with China, saying those who long for peace

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Speaker 1: must prepare for war. The comments followed posts from China's

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Speaker 1: Foreign Ministry saying the country was ready for war with

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Speaker 1: America as it raises defense spending and imposes retaliatory tariffs

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Speaker 1: on US imports. In fact, the post said, if war

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Speaker 1: is what the US wants, be it a tariff war,

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Speaker 1: a trade war, or any other type of war, We're

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Speaker 1: ready to fight until the end. This week, the US

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Speaker 1: hit China twenty percent tariffs in response to what the

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Speaker 1: White House says is a lack of action over fentanyl exports.

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Speaker 1: Beijing responded by bursting defense spending and heading the US

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Speaker 1: with tariffs of up to fifteen percent on some agricultural goods.

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Speaker 1: That's it for the afternoon report for Thursday, the sixth

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Speaker 1: of March twenty twenty five. Make sure you hit FOW

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Speaker 1: on the podcast. We will be back tomorrow morning with

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Speaker 1: the Friday edition of Their and Greed Business News. I'm

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Speaker 1: Shan Eelma. Enjoy your evening