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

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Speaker 1: Report for Monday, the twenty first of October twenty twenty four.

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Speaker 1: I'm Sean Aylmer. Every afternoon, we've got the five stories

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

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Speaker 1: number one. The SNPA SEX two hundred closed up zero

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Speaker 1: point seven percent today to eight thousand, three hundred and

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Speaker 1: forty four points, close to a record high. The big

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Speaker 1: movers though, were Mineral Resources and Weis Tech Global, but

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Speaker 1: they went the other way on the back of corporate

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Speaker 1: governance concerns involving their respective founder CEOs. That's Chris Ellison

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Speaker 1: at Mineral Resources and Richard White at Weist Tech Global.

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Speaker 1: Their share prices tumbled more than thirteen percent. Otherwise, it's

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Speaker 1: a pretty good day with the boss trading at those

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Speaker 1: near record levels. Wall Street was stronger over the weekend.

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Speaker 1: They gave a good leading. Miners and healthcare stocks led

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Speaker 1: the way. The gold miners did well. BHP, Rio, Tinto

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Speaker 1: and four Toescu Metals all did well in the back

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Speaker 1: of higher iron ore price that they had plenty of friends,

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Speaker 1: Goodman Wes, Farmers, Quarry Group, Woodside CSL or Aristocrat, leisure

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Speaker 1: aria I could go on. I wait on the other side.

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Speaker 1: Perhaps among the large caps, the worst performer was Telstrap

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Speaker 1: Story at number two. Origin Energy boss Frank Calabria says

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Speaker 1: the energy transition is progressing, though it's messy due to

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Speaker 1: challenges around approvals from local communities. He said the growth

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Speaker 1: in data centers, in artificial intelligence and electric vehicles that's

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Speaker 1: triggering much of the demand on small nuclear reactors. Mister

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Speaker 1: Clabria said not enough information is available at the moment

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Speaker 1: to say if they're worth taxpayers money. Commercialization costs and

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Speaker 1: scale are at least a decade away, he says, and

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Speaker 1: at the moment a small nuclear reactor is too risky

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Speaker 1: a project for Origin. The next major date for that

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Speaker 1: company is August twenty twenty seven. That's when they're closing

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Speaker 1: the Arahan coal power station number three. Staying in the

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Speaker 1: energy space, the boss of the Australian Energy Market Operator,

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Speaker 1: Daniel Westerman said renewable energy is now the lowest cost

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Speaker 1: form of energy. Like mister Clabrea, mister Westerman was speaking

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Speaker 1: at the Australian Financial Reviews Energy and Climate Summit today.

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Speaker 1: He said solar power can exceed Australia's energy needs in

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Speaker 1: the middle of the day and in some states it's

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Speaker 1: actually for longer periods during the day where solar power

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Speaker 1: is providing all of the energy. In the future, a

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Speaker 1: large amount of storage is needed for the power system,

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Speaker 1: according to mister Westerman. Energy Minister Chris Bowen was also

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Speaker 1: at the conference. He announced an expansion in a scheme

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Speaker 1: that encourages investment in wind, solar and batteries. Sight number four.

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Speaker 1: The New South Wales state government is claiming that a

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Speaker 1: decision to ban mobile phones in the classroom last year

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Speaker 1: has been a huge success. The Education Department has done

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Speaker 1: a survey of a thousand public schools. No doubt as

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Speaker 1: a result of that survey there's huge for the band.

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Speaker 1: Ninety five percent of responders reported positive results from the band.

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Speaker 1: Eighty one percent of principles said learning had improved, eighty

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Speaker 1: seven percent says students were less distracted, eighty six percent

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Speaker 1: said students are socializing had improved. And Story number five.

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Speaker 1: In Victoria, stamp duty will be cut for all off

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Speaker 1: the pan units, townhouses and apartments in a twelve month

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Speaker 1: stimulus plan by the Allen government to encourage high density developments.

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Speaker 1: The concession is uncapped and it's available to everyone. The

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Speaker 1: government estimates at stamp duty on a six hundred and

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Speaker 1: twenty thousand dollars apartment goes from about thirty two thousand

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Speaker 1: dollars to just four thousand dollars. That's quite a saving.

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Speaker 1: That's it. If the Afternoon Report for Monday, the twenty

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Speaker 1: first of October twenty twenty four, don't forget follow on

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Speaker 1: the podcast and find Fear and Greed on LinkedIn, Instagram,

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Speaker 1: ex TikTok and Facebook. Join Michael Thompson and I Tomorrow

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Speaker 1: Morning for the Fast Five by Fear and Greed, the

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Speaker 1: top five business stories you need to know in just

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Speaker 1: five minutes. I'm Sean elmerk. Enjoy your eavening. H