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

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Speaker 1: for Thursday, the eighth of August twenty twenty four. I'm

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Speaker 1: sure in Alma every afternoon. We've got the five stories

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Speaker 1: that happen today that you need to know about. Story

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Speaker 1: number one. The S and PASX two hundred closed down

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Speaker 1: zero point two percent today to seven six hundred and

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Speaker 1: eighty two points, with the materials and real estate stocks

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Speaker 1: leading the way lower. The Financials index was the best

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Speaker 1: performer of the eleven sub indices on the ASEX two hundred.

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Speaker 1: The big four banks had a good day, while the

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Speaker 1: miners did in BHP, fortyesquen Reo, Tintel all fell sharply.

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Speaker 1: Property leader Goodman Group and Energy leader Woodside were also

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Speaker 1: sold off. Weisteak Global finished up more than two percent

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Speaker 1: and was the best performer of the large caps. Profit

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Speaker 1: season is warming up. IMP share price jumped thirteen percent

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Speaker 1: today after the one time blue chip company reported a

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Speaker 1: higher half year profit. It was the best of the

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Speaker 1: top two hundred. Story number two. Childcare and after school

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Speaker 1: care workers will receive a ten percent pay rise by

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Speaker 1: the end of the year, with another to come in

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Speaker 1: a three point six billion dollar bid by the federal

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Speaker 1: government to give families assurances about the quality of care

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Speaker 1: received by their children, but the more than two hundred

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Speaker 1: thousand workers in the sector will receive the combined fifteen

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Speaker 1: percent pay rise, worth about one hundred dollars a week,

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Speaker 1: only if the centers they work for promise to limit

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Speaker 1: fee increases to four point four percent over the next

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Speaker 1: twelve months. According to a report of the announcement in

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Speaker 1: nine media, Prime Minister Anthony Albernizi said early educators could

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Speaker 1: change people's lives and they deserve to be properly valued

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Speaker 1: and fairly paid. It follows last year's decision to increase

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Speaker 1: the pay of about two hundred and fifty thousand aged

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Speaker 1: care workers by fifteen percent. Story number three. New South

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Speaker 1: Wales labour Premier Chris Mins has ordered all of the

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Speaker 1: state's public servants back to work, and the move which

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Speaker 1: the business community has welcomed. The work from home arrangements

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Speaker 1: implemented in twenty nineteen ended on Tuesday this week. More

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Speaker 1: than four hundred thousand workers are now expected to use

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Speaker 1: offices across the whole working week, which will impact small

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Speaker 1: businesses in the CBD coffee shops. Office vacancy rates transport

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Speaker 1: systems and plenty of outlets in the suburbs as well.

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Speaker 1: The head of the Premier's Department, Simon Draper, said it

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Speaker 1: wasn't a mandate, but rather it was advice. The Premier,

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Speaker 1: Mister Minz, said it was about developing a better culture

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Speaker 1: and mentorship story Number four toll road group Transurban more

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Speaker 1: than quadrupled its net profit last financial year, but road

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Speaker 1: works across the country and people working from home remain

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Speaker 1: a drag on earnings. The country's fifteenth largest listed company

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Speaker 1: reported lower than expected income from roads in Sydney and Melbourne,

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Speaker 1: notwithstanding the big jump in profit, and that sent its

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Speaker 1: share price down more than one percent. It's a timely

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Speaker 1: reminder as we get into reporting season proper that share

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Speaker 1: price moves after results announcements reflect expectations about results, rather

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Speaker 1: than how much more or less they made compared to

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Speaker 1: the previous period. Now, construction works on toll roads in

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Speaker 1: Sydney and Melbourne cities had reduced traffic flows in each

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Speaker 1: by round one percent. Transurban controls nearly of all of

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Speaker 1: Sydney's toll roads, including key motorway arteries the M four

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Speaker 1: and five and M two. Traffic trends show people returning

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Speaker 1: to the office was still below pre COVID numbers in

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Speaker 1: both Melbourne and Sydney. In Brisbane, though traffic is back

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Speaker 1: to those pre COVID levels and story number five. Property

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Speaker 1: developer Murvak made an eight hundred and five million dollar

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Speaker 1: full year loss on the back of falls and the

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Speaker 1: value of its office portfolio, and warn that the sector

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Speaker 1: is facing tough market conditions. Murvak's operating profit dipped by

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Speaker 1: eight percent to five hundred and fifty two million dollars,

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Speaker 1: but it was in line with the expectations, with the

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Speaker 1: headline loss driven by a one point one billion dollar

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Speaker 1: right down mainly on older office stock. Its share price

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Speaker 1: tumbled nine percent on the announcement today, reflecting the comments

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Speaker 1: about future training conditions. Chief executive Campbell Hannon said market

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Speaker 1: conditions were likely to remain challenging this year, but said

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Speaker 1: the company was setting up for recovery. In recent years,

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Speaker 1: Murvak has moved deeper into living sectors, things like Bill

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Speaker 1: torent Ly at least that type of thing, rather than

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Speaker 1: just building and selling apartments. That's it for the Afternoon

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Speaker 1: port for Thursday, the eighth of August twenty twenty four.

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Speaker 1: Don't forget to follow on the podcast and find Fearing

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Speaker 1: Greed on LinkedIn, Instagram, ex TikTok, and Facebook. Join Michael

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Speaker 1: Thomas and I tomorrow I'm Morning for the Fast Five

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Speaker 1: by Fearing Greed, the top five business stories you need

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Speaker 1: to know in just five minutes. I'm Sean Elma. Enjoy

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Speaker 1: your eaming