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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 twenty fifth of November twenty twenty four.

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

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

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Speaker 1: there s INPASX two hundred hit a new all time

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Speaker 1: high today of eight four hundred and fifty eight point

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Speaker 1: nine points. That was late this morning. By the end

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Speaker 1: of the day he had finished up zero point three

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Speaker 1: percent to eighty four hundred and seventeen points, the best

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Speaker 1: close ever. It came out to Donald Trump nominated Hedge

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Speaker 1: funder founder Scott Bessont as Treasury Secretary in the US,

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Speaker 1: thing that the market liked ze he actually understands the market.

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Speaker 1: The sixty two year old has been publicly supportive of tariffs,

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Speaker 1: but he's also suggested the threats by Donald Trump our

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Speaker 1: negotiating strategy aimed at extracting concessions. He told the FT

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Speaker 1: that he thought Donald Trump was a free trader. That

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Speaker 1: sort of took some pressure off market interest rates, also

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Speaker 1: the US dollum. The local market responded well. Interest rate

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Speaker 1: sensitive sectors best real estate investment trust led the way.

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Speaker 1: Healthcare consumer discretionary companies. They all did well on all

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Speaker 1: prices pushed up the big miners. Higher energy prices pushed

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Speaker 1: up the earl and gas stocks, but the bank stocks

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Speaker 1: were lower after the regulator, the Australian Frudancial Regulation Authority,

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Speaker 1: said it would maintain its mortgage lending buffers, worried about

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Speaker 1: high debt levels, cost of living pressures and a pickup

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Speaker 1: in credit growth. Of course, before they fell, the Commonwealth

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Speaker 1: Bank hit another all time record first thing this morning,

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Speaker 1: storing number two. Air New Zealand is about to retro

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Speaker 1: fit its wide body planes, adding more premium, economy and

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Speaker 1: business class seats. It follows what Quantas has done and

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Speaker 1: is a hedge against weak domestic and corporate travel markets.

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Speaker 1: Today it said that it's going to decrease the capacity

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Speaker 1: of its Dreamliner, but it expects to add thirty percent

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Speaker 1: more non economy seats. It also helps to boost cargo

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Speaker 1: exports to help the bottom line. Air New Zealand, which

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Speaker 1: is listed in New Zealand And on the AX, looks

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Speaker 1: like it will finally turn a profit in the current

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Speaker 1: six months, up two percent today. It's down about fifteen

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Speaker 1: percent for the year. Compare that to Quantus. It's up

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Speaker 1: about sixty seven percent this year, trading near record levels.

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Speaker 1: Storry number three Southern Cross Osterio held its annual general

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Speaker 1: meeting today and investors delivered a first strike against its

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Speaker 1: executive pay plans. It's a tough market. Southern Cross Osteria

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Speaker 1: is down forty three percent this year. It's the group

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Speaker 1: that owns a Triple M network as well as Hit Radio.

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Speaker 1: It also owns Listener and a network of regional TV stations.

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Speaker 1: Its big shareholders include one of its biggest competitors, ARN Media.

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Speaker 1: That's the group that tried to buy SCA last year.

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Speaker 1: Arn includes Kiss and Pure Gold. SCA, at the annual

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Speaker 1: general meeting today said it's in active negotiations to offload

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Speaker 1: its TV stations. Chair John Kelly said going forward for SCA,

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Speaker 1: it's all about audio. Story Number four. Thousands of New

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Speaker 1: South Wales homes and businesses are facing the threat of

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Speaker 1: rolling blackouts on Wednesday on the back of an unexpected

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Speaker 1: hour at coal power units along with very hot weather. Initially,

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Speaker 1: the regulator, the Australian Energy Market Operators said that one

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Speaker 1: point seven to three gigawatts could be lost by mid

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Speaker 1: afternoon Wednesday. That's enough to power about one and a

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Speaker 1: half million homes. They later cut back to about twenty

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Speaker 1: percent of that level. Still, that's three hundred thousand homes.

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Speaker 1: It's the biggest test for the state since the closure

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Speaker 1: of Agal Energy's Liddell coal power station in April last year.

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Speaker 1: According to the Finn Review, disruptions or outages at Agal

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Speaker 1: Energy's Bayswater Generator in the Huna Valley, at Gladstone at

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Speaker 1: Trong North and Queensland at Origin Energy es Aerarring plant

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Speaker 1: at Delta's of VAL's Point station in New South Wales

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Speaker 1: and age eels Oi Yang power station in Victoria has

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Speaker 1: really hit the power supply and story number five. The

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Speaker 1: Times of Israel has reported that Israel has agreed in

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Speaker 1: principle to a US backed ceasefire with Hesblah in what

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Speaker 1: would be a major breakthrough in the region. The newspaper

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Speaker 1: cited multiple reports of high level consoleations involving Prime Minister

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Speaker 1: and Benjamin Nett and Yahoo. It comes after Israel was

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Speaker 1: hit by rocket fire from Lebanon and the Israeli Air

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Speaker 1: Force carried out multiple strikes on HESBLA sites in Beirut.

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Speaker 1: The proposed cease fire aims to restore UN Security Council

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Speaker 1: Resolution seventeen oh one, which ended the two thousand and

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Speaker 1: six HESBLA Israel war. It would require HESBLA to pull

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Speaker 1: its fighters back about thirty kilometers from the Israeli border

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Speaker 1: and the Lebanese Army to deploy in the buffer zone.

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Speaker 1: According to the finn Review, as if the Afternoon Report

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Speaker 1: for Monday, the twenty fifth of November twenty twenty four,

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Speaker 1: Michael Thompson and I will be back tomorrow morning with

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Speaker 1: Tuesday edition off beer and green business news. I'm shanelma

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Speaker 1: Enjoy your evening.