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

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Speaker 1: for Tuesday, the sixteenth of September twenty twenty five. Are

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Speaker 1: Michael Thompson. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Let's go

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Speaker 1: with story number one. The S and P ASX two

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Speaker 1: hundred climbed zero point three percent today to eight hundred

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Speaker 1: and seventy eight points after another strong leading from Wall

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Speaker 1: Street ahead of an expected interest rate cut in the US.

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Speaker 1: Records were actually set on both the S and P

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Speaker 1: five hundred and the tech heavy Nasdaq in the States. Locally,

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Speaker 1: higher iron ore prices saw the big miners climb. BHP

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Speaker 1: re at, Tinto, Fortescue were all up, with the price

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Speaker 1: of iron ore near one hundred and seven US dollars

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Speaker 1: a ton. The reason for that's quite interesting. The fin

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Speaker 1: Review reports that part of the reason for the climb

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Speaker 1: was the resumption of steel production in China after pollution

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Speaker 1: limits had been imposed for Beijing's big military parade that

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Speaker 1: we talked about earlier in the month shut down and

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Speaker 1: a lot of the factories for that in order to

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Speaker 1: reduce the pollution. They've now resumed steel production back underway.

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Speaker 1: Iron or price goes back up. There you go. Gold

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Speaker 1: has hit another record three six hundred and eighty nine

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Speaker 1: US dollars and ounce climbing once more ahead of the

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Speaker 1: fed's meeting. A lot tied to the FED this week

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Speaker 1: that pulled the local gold miners up. Bellevue Gold, for instance,

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Speaker 1: closed six point three percent higher, and reports that the

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Speaker 1: US is looking to boost strategic uranium stockpiles saw local

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Speaker 1: uranium miners climb. The terrifically named Deep Yellow was up

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Speaker 1: more than nine percent today onto story number two now

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Speaker 1: and the worst performer on the local burse today was

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Speaker 1: Super Retail Group, which slumped four point three percent following

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Speaker 1: the sacking of chief executive Anthony Herity due to an

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Speaker 1: undisclosed office romance with the company's former chief human resources officer.

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Speaker 1: There was a bit of corporate news around today that

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Speaker 1: was one of the big ones. A more positive story,

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Speaker 1: Chemist Warehouse parents Sigma Healthcare has appointed former JB High

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Speaker 1: Fi chief executive Richard Murray as chief financial officer. Murray

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Speaker 1: is very well known in the retail world. He's spent

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Speaker 1: nearly two decades at JB High five before going to

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Speaker 1: Premier Investments and then on to Total Tools story number three.

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Speaker 1: With earning season out of the way, attention is now

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Speaker 1: turning towards annual general Meetings agms, and one chair who's

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Speaker 1: going to face angry shareholders is James Hardy chairwoman and Lloyd,

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Speaker 1: with analysts speculating that she's at risk of being dumped.

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Speaker 1: Hardy's AGM is taking place next month. Lloyd has been

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Speaker 1: in the role since late twenty twenty two and presided

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Speaker 1: over the unpopular fourteen billion dollar buyout of outdoor decking

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Speaker 1: company Aseek in the US. She's among three James Hardy

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Speaker 1: directors due for re election at the annual meeting on

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Speaker 1: October thirty. Media outlets are quoting investment analysts who say

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Speaker 1: there's a chance that Lloyd will lose her job and

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Speaker 1: that suggests volatility in Hardy's share price. Australian shareholders were

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Speaker 1: denied a vote in the AzaC deal, and we talked

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Speaker 1: about this quite a bit at the time, not helping

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Speaker 1: the mood. Though it was a sixty percent fall in

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Speaker 1: net profit during the June quarter. James Hardy's share price

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Speaker 1: is down thirty percent over the past month. It was

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Speaker 1: one of the big movers during reporting season story Number four,

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Speaker 1: NBN co has announced one of the biggest internet upgrades

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Speaker 1: in the nation's history. Millions of homes and businesses now

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Speaker 1: reportedly able to access up to five times faster speeds

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Speaker 1: under the program, which they have called Accelerate Great Wholesale

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Speaker 1: download speeds will jump as high as two thousand megabits

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Speaker 1: per second for some customers. Upload speeds are also increasing sharply.

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Speaker 1: NBN says that more than nine point eight million premises

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Speaker 1: are already eligible, with the figure to pass ten million

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Speaker 1: by the end of the year. They say that the

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Speaker 1: changes reflect soaring demand, with the average household now running

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Speaker 1: how about this twenty five connected devices and that number

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Speaker 1: is expected to almost double by twenty thirty. And finally,

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Speaker 1: sorry number five. The showdown between Donald Trump and America's

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Speaker 1: Central Bank has escalated, with the US Appeals Court blocking

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Speaker 1: the President's attempt to remove Federal Reserve Governor Lisa Cook.

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Speaker 1: The ruling means that Cook can remain in her role

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Speaker 1: as the Fed meets this week to set interest rates,

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Speaker 1: which we've talked about already. There is a chance, though still,

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Speaker 1: that the President could ask the Supreme Court to intervene.

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Speaker 1: At the same time, the Senate has confirmed trump ally

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Speaker 1: Stephen Mirn to the board, adding to pressure on the

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Speaker 1: FED to cut rates. Economists are expecting a quarter point reduction.

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Speaker 1: Economists are widely expecting a twenty five basis point reduction,

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Speaker 1: though Donald Trump is calling for a bigger move, and

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Speaker 1: we will find out the decision at four am Thursday

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Speaker 1: Australian time. That's it for the afternoon Report for Tuesday,

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Speaker 1: the sixteenth of September twenty twenty five. Make sure you

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Speaker 1: hit follow on the podcast and we'll be back tomorrow

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Speaker 1: morning with the Wednesday edition of Fear and Greed. I'm

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Speaker 1: Michael Thompson. Enjoy your evening,