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

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Speaker 1: the seventeenth, July twenty twenty five. I'm sure in 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. Story number one, the

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Speaker 1: s ASX two hundred hit another record closing high, up

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Speaker 1: nearly one percent to eighty six hundred and thirty nine points.

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Speaker 1: That came on the back of labor force data which

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Speaker 1: shows the unemployment rate crept up to four point three

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Speaker 1: percent last month. Bad years maybe, but it really does

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Speaker 1: up the chance of an interst rate cut next month.

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Speaker 1: And that's what investors like the banks and interstrate sensitive

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Speaker 1: stocks did best. Commwealth Bank, A and ZED, Westpac and

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Speaker 1: Goodman Group all jump more than one percent. Transurban and

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Speaker 1: Zero were both up two percent, while computer share finished

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Speaker 1: three percent higher. The gold stocks and retailers tended to underperform.

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Speaker 1: Storry number two. The sparring in the gaming industry continues,

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Speaker 1: with ASX listed Better making an unsolicited all script takeover

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Speaker 1: bid for points Better so betters offer proposed three point

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Speaker 1: eighty one better shares for every one points bet share,

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Speaker 1: valuing the deal at a dollar three points BETT said

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Speaker 1: it's reviewing the proposal and will release a target statement

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Speaker 1: in due course, including a formal recommendation from the board.

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Speaker 1: Now points BETT already has another bit on the table

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Speaker 1: from Japanese entertainment giant Mixy. It offers dollar twenty per

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Speaker 1: share in cash, which is a long way or very

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Speaker 1: different to a dollar three in Script'll see how that

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Speaker 1: one plays out. Storry number three US and ASX listed

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Speaker 1: metals producer Alcoa said it's been hit with a one

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Speaker 1: hundred and fifteen million US dollar tariff cost on its

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Speaker 1: imports of aluminium to the US from Canadian smelters. The

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Speaker 1: tariffs were set at twenty five percent from March twelve

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Speaker 1: and then increased to fifty percent on June four. Al

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Speaker 1: Coal warns it expects another ninety million US hit from

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Speaker 1: tariffs in the September quarter. Al co said it redirected

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Speaker 1: some Canadian produced aluminium to customers outside the US to

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Speaker 1: mitigate additional tariff costs. It said its second quarter underlying

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Speaker 1: earning cells sharply, mostly due to lower alumina and aluminium

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Speaker 1: prices and higher tariff costs. Our Co share price on

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Speaker 1: the ASX is down nearly ten percent. In the past

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Speaker 1: week straight number four in corporate news. Oil and gas

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Speaker 1: group Santos has increased production volumes in the second quarter,

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Speaker 1: driven by strong output in Western Australia that offset flood

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Speaker 1: impacts in the Cooper Basin. The better than expected ROT

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Speaker 1: results is timely given Santos is under take over offer

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Speaker 1: from a Middle Eastern consortium and AASX listed car group

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Speaker 1: fell after an It announced that long serving chief executive

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Speaker 1: Cameron McIntyre would step down. He'll be replaced by chief

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Speaker 1: financial officer William Elliott. Finally, Stratum five. Donald Trump has

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Speaker 1: asked Republican politicians if he should fire the FED chair

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Speaker 1: Jerome Powell, and also taken a swipe at his own

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Speaker 1: base for pushing what he calls the Jeffrey Epstein hoax.

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Speaker 1: Starting with Jerome Powell, Trump asked Republican members of Congress

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Speaker 1: during an Oval Office meeting if he should remove the

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Speaker 1: FED chair. Apparently they supported the idea, though Trump later

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Speaker 1: said he wasn't planning on doing anything unless there is

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Speaker 1: fraud involved, which is possible. That's according to Trump, there

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Speaker 1: is no evidence of any fraud whatsoever. Senior bankers have

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Speaker 1: rallied behind the FEED chair supporting his independence. Trump dislikes

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Speaker 1: Powell for not cutting interest rates onto Epstein. He's the

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Speaker 1: disgraced financier and child sex offender who took his own

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Speaker 1: life from prison in twenty nineteen and was an acquaintance

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Speaker 1: of Donald Trump. Many Republicans supporters of Trump want details

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Speaker 1: of lists of Epstein's friends and details of his death

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Speaker 1: to be released. Trump had promised he'd do that. Now

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Speaker 1: he's changed his mind. He accused his past supporters it's

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Speaker 1: how he put it, of pushing the Jeffrey Epstein hoax.

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Speaker 1: The problem for Trump is that many in his base

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Speaker 1: don't think it's a hoax. That's it for the Afternoon

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Speaker 1: Report for Thursday, the seventeenth of July twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast. We will

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Speaker 1: be back tomorrow morning with the Friday edition of the

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Speaker 1: past five Business News by Fear and Greed. I'm Sean Elmer.

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Speaker 1: Enjoy reading