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

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Speaker 1: for Friday, the nineteenth of July twenty twenty four. I'm

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Speaker 1: suan Elma. Every afternoon, we've got the five stories have

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

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Speaker 1: two hundred closed down about one percent today. Manning for

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Speaker 1: the week, the boss was flat, mind you, it had

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Speaker 1: quite a ride earlier in the week. The benchmark hit

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Speaker 1: both a new interday high around eight thousand and sixty

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Speaker 1: points and a new closing high today. The big miners

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Speaker 1: led the way down, but there were some decent falls

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Speaker 1: among the real estate, utilities and financial stocks. Bit of

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Speaker 1: corporate news around today, white Haven Coal said it didn't

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Speaker 1: meet its unit cost target, even though the company sold

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Speaker 1: higher volumes of coal. Cost pressures have hit all miners,

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Speaker 1: and white Haven managing director Paul Flynn said in parts,

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Speaker 1: materials and services, inflation is rife. There you go. The

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Speaker 1: good news is that the availability of labor is looking better.

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Speaker 1: There are a couple of retailers flagging earnings changes today.

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Speaker 1: Jewelry store operator Michael Hill blamed conditions for a squeeze

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Speaker 1: in margins and weak revenue growth, and The door Beauty

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Speaker 1: said sales are up about seven percent for the last

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Speaker 1: financial year. Both retailers report their full year earnings next month.

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Speaker 1: Story number two. Donald Trump officially accepted his nomination as

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Speaker 1: the Republican nominee for the November presidential election in the

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Speaker 1: US at the party's national convention in Milwaukee today, giving

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Speaker 1: a speech in which he said he will win in

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Speaker 1: four months time, and I quote, we will begin the

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Speaker 1: greatest four years in the history of our country. Mister

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Speaker 1: Trump said he felt very safe after last week's assassination

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Speaker 1: attempt because he had God on his side. He said

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Speaker 1: he'd bring down inflation and interest rates and lower the

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Speaker 1: cost of energy. He wants to finish construction of the

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Speaker 1: southern border wall next to Mexico, and he said he'll

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Speaker 1: end both the Russia, Ukraine and Israel Gars Awards, though

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Speaker 1: he didn't actually give any details. Harry was going to do.

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Speaker 1: That's quite the show. Hulk Hogan was there so to

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Speaker 1: kid Rock ramping up the crowd. Milania Trump, who's been

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Speaker 1: largely absent from the campaign so far, It's front and center.

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Speaker 1: The crowd also included Rupert Murdock and Kevin Rudd, the

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Speaker 1: former Prime Minister in Australia's ambassador to the US. Story

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Speaker 1: number three, The Blue Screen of Death has hit Windows

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Speaker 1: computers across Australia, New Zealand, Japan and India this afternoon,

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Speaker 1: which Microsoft is blaming on issues with multiple versions of

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Speaker 1: anti malware protection software from the group CrowdStrike. According to

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Speaker 1: posts on x, the outage has affected the four countries

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Speaker 1: and media groups, banks and other financial service firms. Thousands

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Speaker 1: of other businesses are hit. This is happening as we

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Speaker 1: got aware. Hopefully the problem won't last too long. Story

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Speaker 1: number four. Lifestyles Communities share price tumbled today after it

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Speaker 1: withdrew forward guidance, blaming interest rate rises, high inflation, ongoing

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Speaker 1: insolvencies in the building sector, and the media. Life Style

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Speaker 1: develops owns and managers affordable independent living communities. Over the

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Speaker 1: past week, the ABC has alleged the company's gouging residents

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Speaker 1: with unfired fees, and eighty homeowners in a community had

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Speaker 1: lodged claims in the Victorian Civil and Administrative Tribunal. The

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Speaker 1: company rejected the allegations. It did that again today and

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Speaker 1: said media coverage was incomplete, as in it didn't provide

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Speaker 1: the whole story. LifeStyle's share price has formed about twenty

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Speaker 1: four percent this week and story number five. A crackdown

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Speaker 1: on password sharing, a push into advertising, and a strong

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Speaker 1: viewing lineup has helped Netflix push its quarterly profit up

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Speaker 1: forty four percent, well above expectations. The streaming service added

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Speaker 1: eight million subscribers globally in the three months. At the

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Speaker 1: end of June. It now has nearly two hundred and

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Speaker 1: seventy eight million subscribers, up thirty seven percent from a

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Speaker 1: year ago. Netflix's share price is up more than thirty

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Speaker 1: percent this year. Since mid twenty twenty two. A couple

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Speaker 1: of years ago, Netflix has been blocking the previously widespread

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Speaker 1: practice of sharing subscriber passwords with friends and families living

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Speaker 1: outside households. It also introduced commercials for the first time

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Speaker 1: as part of a low priced version of its service.

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Speaker 1: Since those moves again rolling out, Netflix has picked up

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Speaker 1: nearly fifty five million more paying customers. It's also cut

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Speaker 1: back on spending, particularly around some movies and series. That's

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Speaker 1: it for the afternoon Report for Friday than nineteenth of

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Speaker 1: July twenty twenty four. Don't forget follow on the podcast

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Speaker 1: and find Fear and Greed on LinkedIn. Instagram, x TikTok

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Speaker 1: and Facebook. Join out on Lang and I tomorrow morning

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Speaker 1: at the weekend past five. I'm Sean Elma. Enjoy your evening.