1
00:00:03,480 --> 00:00:06,200
Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

2
00:00:06,280 --> 00:00:08,800
Speaker 1: for Wednesday, the tenth of December. I'm Michael Thompson, and

3
00:00:08,840 --> 00:00:11,119
Speaker 1: every afternoon we've got the five stories that happened today

4
00:00:11,119 --> 00:00:13,280
Speaker 1: that you need to know about. Let's go with story

5
00:00:13,360 --> 00:00:16,280
Speaker 1: number one. A very flat day really on the SMPA

6
00:00:16,400 --> 00:00:19,759
Speaker 1: SEX two hundred, today's investors process, yesterday's decision by the

7
00:00:19,760 --> 00:00:22,720
Speaker 1: Reserve Bank to leave rates on hold, and more importantly,

8
00:00:22,760 --> 00:00:26,239
Speaker 1: the commentary around the likelihood of no more interest rate cuts.

9
00:00:26,600 --> 00:00:30,240
Speaker 1: The share market closed down zero point zero eight percent

10
00:00:30,640 --> 00:00:33,599
Speaker 1: today to eighty five hundred and seventy nine points, so

11
00:00:33,800 --> 00:00:37,159
Speaker 1: just off a touch. The best performing sector was the

12
00:00:37,240 --> 00:00:40,680
Speaker 1: materials stocks, the worst the tech companies. A lot of

13
00:00:40,720 --> 00:00:44,159
Speaker 1: anticipation ahead of the US FED meeting overnight the Central

14
00:00:44,200 --> 00:00:47,800
Speaker 1: Bank tip to cut interest rates in the world's biggest economy.

15
00:00:47,800 --> 00:00:51,120
Speaker 1: The decision will come through tomorrow morning. Locally, we'll start

16
00:00:51,120 --> 00:00:54,680
Speaker 1: with the miners, the gold diggers, in particular Newmont and

17
00:00:54,720 --> 00:00:58,200
Speaker 1: Northern Star both jumped more than four percent today. Romilius

18
00:00:58,280 --> 00:01:01,640
Speaker 1: Resources was up after an hour, seeing new share buybacks

19
00:01:02,160 --> 00:01:05,119
Speaker 1: and an increased dividend, as well a record silver price

20
00:01:05,200 --> 00:01:08,120
Speaker 1: today of sixty US dollars. An Outsource, South thirty two

21
00:01:08,200 --> 00:01:11,319
Speaker 1: and Sunsilver have a very good day mix day for

22
00:01:11,360 --> 00:01:13,959
Speaker 1: the banks, and at the other end, the tech stocks

23
00:01:14,120 --> 00:01:17,920
Speaker 1: had an ordinary one, Technology one, Wisetech Global and zero

24
00:01:18,080 --> 00:01:21,600
Speaker 1: were all off between one and a half and two

25
00:01:21,640 --> 00:01:26,360
Speaker 1: percent today Story number two. This is day one of

26
00:01:26,400 --> 00:01:29,600
Speaker 1: the federal government's social media ban for under sixteens and

27
00:01:29,680 --> 00:01:33,919
Speaker 1: teenagers are already finding workarounds. As you would expect, Lesser

28
00:01:33,959 --> 00:01:37,800
Speaker 1: known apps like Lemonade, YopE and cover Star are rocketing

29
00:01:37,840 --> 00:01:41,280
Speaker 1: up the download charts. Teams looking for loopholes. We'll have

30
00:01:41,319 --> 00:01:45,080
Speaker 1: more on that tomorrow. Others are using their parents logins

31
00:01:45,360 --> 00:01:48,880
Speaker 1: using VPNs to dodge age checks. Media reports also include

32
00:01:48,880 --> 00:01:52,480
Speaker 1: stories of underage teens being deemed old enough by Snapchat's

33
00:01:52,520 --> 00:01:55,040
Speaker 1: facial age check, or the age check software just not

34
00:01:55,080 --> 00:01:58,080
Speaker 1: working at all and giving them access still. The Financial

35
00:01:58,160 --> 00:02:01,440
Speaker 1: Review reports a poll of fifty ten year seven students

36
00:02:01,480 --> 00:02:05,040
Speaker 1: from a school in Geelong that out of those fifteen,

37
00:02:05,280 --> 00:02:08,520
Speaker 1: only two had been removed from their accounts over the

38
00:02:08,560 --> 00:02:11,960
Speaker 1: past week. The others had mostly used fake birth dates

39
00:02:12,120 --> 00:02:15,840
Speaker 1: to avoid removal. The government admits that the system is

40
00:02:15,880 --> 00:02:18,240
Speaker 1: not and won't be perfect, but says the law sets

41
00:02:18,280 --> 00:02:21,280
Speaker 1: a very clear national standard and gives parents back up

42
00:02:21,320 --> 00:02:24,359
Speaker 1: when they say no to social media. Sorry Number three.

43
00:02:24,360 --> 00:02:26,720
Speaker 1: Westpac customers have been hit by an outage today that's

44
00:02:26,760 --> 00:02:30,080
Speaker 1: left some unable to pay or get paid. From about

45
00:02:30,120 --> 00:02:33,320
Speaker 1: lunchtime today, thousands of people reported problems with f post

46
00:02:33,440 --> 00:02:36,919
Speaker 1: terminals and online payments, with some retailers saying they couldn't

47
00:02:36,919 --> 00:02:40,800
Speaker 1: process any sales. Westpac has confirmed the outage, saying some

48
00:02:40,960 --> 00:02:44,160
Speaker 1: merchant systems and card systems were degraded and that it

49
00:02:44,240 --> 00:02:47,000
Speaker 1: was working to restore services as quickly as possible, while

50
00:02:47,040 --> 00:02:51,680
Speaker 1: apologizing for the disruption. The bank's status page says terminals

51
00:02:51,720 --> 00:02:55,320
Speaker 1: and e commerce platforms are suffering intermittent failures, and call

52
00:02:55,400 --> 00:02:59,520
Speaker 1: center messages were warning of issues with merchant terminals as well.

53
00:03:00,200 --> 00:03:02,799
Speaker 1: Story number four. This is a little bit worrying. More

54
00:03:02,800 --> 00:03:06,760
Speaker 1: than four in five Senior Australians say they have encountered scams,

55
00:03:06,800 --> 00:03:09,560
Speaker 1: and around one in five have actually lost money, in

56
00:03:09,600 --> 00:03:13,760
Speaker 1: some cases tragically, more than fifty thousand dollars. A new

57
00:03:13,800 --> 00:03:17,760
Speaker 1: report commissioned by Seniors Australia says most individual losses were

58
00:03:17,880 --> 00:03:20,480
Speaker 1: smaller under one thousand dollars, but it also revealed the

59
00:03:20,560 --> 00:03:23,320
Speaker 1: number of victims who don't actually report the crime, with

60
00:03:23,440 --> 00:03:26,720
Speaker 1: sixteen percent of those who lost money not reporting the

61
00:03:26,800 --> 00:03:30,799
Speaker 1: loss to any organization. Those who did report mostly went

62
00:03:30,840 --> 00:03:33,720
Speaker 1: to their bank, but around twenty percent went to Scam Watch.

63
00:03:33,800 --> 00:03:37,560
Speaker 1: Another twenty percent went to the police. Parcel delivery cons,

64
00:03:37,640 --> 00:03:41,080
Speaker 1: fake overdue bills, and phishing scams are the most common

65
00:03:41,080 --> 00:03:44,600
Speaker 1: ones encountered, but AI is starting to play a role,

66
00:03:44,840 --> 00:03:49,520
Speaker 1: including deep fake voices pretending to be loved ones, hyperrealistic emails,

67
00:03:49,560 --> 00:03:52,480
Speaker 1: and bogus images that are hard to pick. Nearly ninety

68
00:03:52,520 --> 00:03:55,360
Speaker 1: percent of seniors feel that they are being left behind

69
00:03:55,480 --> 00:03:59,080
Speaker 1: on AI, and most admit they still sometimes assume what

70
00:03:59,080 --> 00:04:02,160
Speaker 1: they see online is real without checking, which I think

71
00:04:02,200 --> 00:04:05,760
Speaker 1: all of us do. That story number five Fresh images

72
00:04:05,920 --> 00:04:09,400
Speaker 1: out of Russia our fueling long running claims that Vladimir

73
00:04:09,480 --> 00:04:13,840
Speaker 1: Putin has two secret young sons with a former Olympic gymnast,

74
00:04:13,880 --> 00:04:17,960
Speaker 1: Elena Kavieva. The Australian newspaper reports videos posted on a

75
00:04:18,000 --> 00:04:20,920
Speaker 1: Russian language website show two boys said to be ten

76
00:04:21,000 --> 00:04:24,920
Speaker 1: year old Ivan and six year old Vladimir Junior, training

77
00:04:24,960 --> 00:04:30,080
Speaker 1: and performing at a gymnastics academy linked to Kavieva. Investigative

78
00:04:30,120 --> 00:04:33,280
Speaker 1: journalists say the children news an alias surname, live under

79
00:04:33,279 --> 00:04:36,520
Speaker 1: heavy security at a forest compound outside Moscow and have

80
00:04:36,680 --> 00:04:40,120
Speaker 1: effectively been erased from official records. The Kremlin has never

81
00:04:40,160 --> 00:04:44,480
Speaker 1: acknowledged any relationship between Putin and Kaveeva, and Russian state

82
00:04:44,560 --> 00:04:48,200
Speaker 1: media are banned from mentioning it. Putin publicly recognizes only

83
00:04:48,320 --> 00:04:51,680
Speaker 1: two adult daughters from his former wife, but rumours about

84
00:04:51,680 --> 00:04:54,720
Speaker 1: a second secret family have swirled for more than a decade.

85
00:04:54,960 --> 00:04:57,440
Speaker 1: That's it for the afternoon Report for Wednesday, the tenth

86
00:04:57,440 --> 00:04:59,680
Speaker 1: of December. Make sure you're following the podcast, and please

87
00:04:59,680 --> 00:05:01,520
Speaker 1: head on inter Fear and Greed dot com dot au

88
00:05:01,600 --> 00:05:04,479
Speaker 1: to sign up for our free daily newsletter. I'm Michael Thompson.

89
00:05:04,720 --> 00:05:07,640
Speaker 1: Enjoy your evening. H