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

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Speaker 1: for Wednesday, the fifteenth of January twenty twenty five. I'm

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Speaker 1: suan Alma. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about. Story number one,

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Speaker 1: Telstra will spend seven hundred million dollars rolling out artificial

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Speaker 1: intelligence across its entire business. In fact, it's one of

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Speaker 1: the biggest deployments by an Australian corporate ever. They're doing

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Speaker 1: it in a joint venture with consulting group Eccentia. The

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Speaker 1: goal is to transform how the big telco interacts with

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Speaker 1: customers and operates its network. It could result in staff

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Speaker 1: losses now. The Financial Review reported the story this morning.

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Speaker 1: Though there was no official announcement from Telstra, it did

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Speaker 1: hit its share price. It dropped more than one percent today. Sorry.

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Speaker 1: Number two. Among the best performers on the share market

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Speaker 1: today was home builder av Jennings, which closed up eight

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Speaker 1: percent after it received a new takeover proposal from the

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Speaker 1: Singaporean group Hoo b Land offered three hundred and ninety

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Speaker 1: one million dollars for av Jennings. That's about seventy cents

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Speaker 1: a share. It already has about five point four percent

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Speaker 1: of the company now. American Group Proprium Capital Partners offered

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Speaker 1: sixty seven cents to share three hundred and seventy four

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Speaker 1: million dollars back in November. The company is now training

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Speaker 1: at sixty nine cents per share. That's what it closed

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Speaker 1: out today, double what it was since that first bid.

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Speaker 1: It is definitely in play. Story number three. Not a

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Speaker 1: lot going on in the local share market at the moment.

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Speaker 1: We're still having that post Christmas hangover. Iron All stocks

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Speaker 1: are doing okay, helped by a two week high in

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Speaker 1: the price of iron ore. It's now training back above

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Speaker 1: one hundred US dollars eight ton. The banks were mixed atday.

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Speaker 1: Property companies continue to outperform. The telco and tech stocks

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Speaker 1: weren't so good. One interesting stop was Weisstech Global. It

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Speaker 1: lost another near four percent today, closing in one hundred

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Speaker 1: and fifteen dollars a share. That's its lowest since October

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Speaker 1: twenty eight. Not really clear who's selling, but plenty of

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Speaker 1: speculation it might actually be Richard White, the CEO by

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Speaker 1: the closed y SMPA six two hundred was zero point

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Speaker 1: two percent higher at eight two hundred and thirteen points.

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Speaker 1: Story Number four, what's the state news around at the moment?

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Speaker 1: Led by the chaos across the Sydney train system network

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Speaker 1: today after a bunch of workers went on stroke. They're

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Speaker 1: basically striking overpaid. Involves the Electrical Trades Union and the Rail,

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Speaker 1: Tram and Bus Union. Eight and ten services were delayed

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Speaker 1: or canceled in the amp coal in that city today.

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Speaker 1: They expect about one thousand trains to be delayed or

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Speaker 1: canceled for the twenty four hour period. Fewer trains, larger crowds.

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Speaker 1: Use some replacement buses, but you need twenty buses for

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Speaker 1: one train, so that doesn't work so good. The New

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Speaker 1: South Wales government said it's exploring legal options to end action.

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Speaker 1: And then in Queensland, an audit into the health system

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Speaker 1: says it's an urgent need of reform after years for

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Speaker 1: breakdowns across infrastructure, cybersecurity and patient care. The Queensland Ordered

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Speaker 1: Office said it's facing mounting costs, worsting wait times and

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Speaker 1: there's an underwhelming performance on preventable hospital admissions. And finally,

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Speaker 1: sorry number five. South Korea's president has been arrested after

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Speaker 1: a standoff with police. President yunsakiol was arrested this morning

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Speaker 1: following a pre dawn raid by police and investigators on

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Speaker 1: his fortified hilltop compound. According to The Financial Times, Eann's

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Speaker 1: detention followday six hour standoff between law enforcement officials and

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Speaker 1: members of the president's security detail. It's the first time

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Speaker 1: in South Korea's history that a sitting president has been arrested.

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Speaker 1: The president failed in his attempt to impose martial law

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Speaker 1: last month that triggered a slumping confidence. He was suspended

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Speaker 1: from duties. He was then impeached by parliament in December

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Speaker 1: following that attempt to impose martial law, and the arrest

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Speaker 1: came this morning. That's it the oufternoon Report for Wednesday,

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Speaker 1: the fifteenth of December twenty twenty five. Make sure you

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Speaker 1: hit follow on the podcast. We'll be back tomorrow morning

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Speaker 1: with Thursday A fast five business years by Fear and Greed.

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Speaker 1: I'm Sean Elmer. Enjoy your reading it.