1 00:00:04,200 --> 00:00:07,080 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,120 --> 00:00:10,200 Speaker 1: for Tuesday, the sixteenth of December twenty twenty five. I'm 3 00:00:10,200 --> 00:00:12,879 Speaker 1: Michael Thompson, and every afternoon we've got the five stories 4 00:00:12,920 --> 00:00:15,280 Speaker 1: that happen today that you need to know about. Story 5 00:00:15,360 --> 00:00:18,119 Speaker 1: number one. Floral tributes are growing at the site of 6 00:00:18,120 --> 00:00:22,599 Speaker 1: the Bondai terror attackers. Politicians and civilians lay flowers to 7 00:00:22,680 --> 00:00:26,760 Speaker 1: remember the fifteen innocent people killed in Sunday shooting. Former 8 00:00:26,800 --> 00:00:29,960 Speaker 1: Prime Minister John Howard and One Nation's Pauline Hanson and 9 00:00:30,000 --> 00:00:34,240 Speaker 1: Barnaby Joyce among those who have been at the memorial today, 10 00:00:34,640 --> 00:00:37,720 Speaker 1: while Ahmad El Ahmed, the hero who tackled one of 11 00:00:37,760 --> 00:00:41,159 Speaker 1: the government has been visited in hospital this morning by 12 00:00:41,200 --> 00:00:43,760 Speaker 1: the Prime Minister and this afternoon by the Governor General. 13 00:00:43,960 --> 00:00:47,280 Speaker 1: A go fund me for Ahmed has now passed two 14 00:00:47,520 --> 00:00:50,760 Speaker 1: million dollars. Meanwhile, New South Wales Premier Chris Mins has 15 00:00:50,800 --> 00:00:53,960 Speaker 1: defended the actions of police who shot the Bondie attackers 16 00:00:54,240 --> 00:00:57,840 Speaker 1: at a heated press conference this afternoon, after reporters asked 17 00:00:57,960 --> 00:01:01,200 Speaker 1: multiple questions to the New South Wales polic Commissioner Mallanion 18 00:01:01,480 --> 00:01:04,679 Speaker 1: about whether police should have engaged the shooters earlier or 19 00:01:04,840 --> 00:01:07,480 Speaker 1: have done more to stop them. The Premier stepped in 20 00:01:07,560 --> 00:01:10,200 Speaker 1: to defend the officers, pointing out that they engaged the 21 00:01:10,240 --> 00:01:13,759 Speaker 1: gunman with handguns when the offenders had long range rifles, 22 00:01:13,840 --> 00:01:15,679 Speaker 1: and that they killed one of the men and stopped 23 00:01:15,680 --> 00:01:18,600 Speaker 1: the other one. He also said two officers were in 24 00:01:18,640 --> 00:01:22,080 Speaker 1: a critical condition in hospital and said, and I quote, 25 00:01:22,360 --> 00:01:24,600 Speaker 1: they weren't shot in the back as they were running away. 26 00:01:24,680 --> 00:01:26,600 Speaker 1: They were shot in the front. I'm sorry to be 27 00:01:26,640 --> 00:01:29,039 Speaker 1: graphic about it, but if there's any suggestion that New 28 00:01:29,040 --> 00:01:31,880 Speaker 1: South Wales police didn't live up to their responsibilities to 29 00:01:31,920 --> 00:01:35,240 Speaker 1: the people of this state, it should be rejected. On 30 00:01:35,319 --> 00:01:37,920 Speaker 1: de story number two now and a look at local markets. 31 00:01:37,920 --> 00:01:41,240 Speaker 1: The SMPA Sex two hundred closed zero point four percent 32 00:01:41,440 --> 00:01:44,720 Speaker 1: lower today to eighty five hundred and ninety nine points, 33 00:01:45,120 --> 00:01:49,520 Speaker 1: dragged down by tech and energy stocks. Monitoring app Life 34 00:01:49,520 --> 00:01:52,760 Speaker 1: three sixty slumped more than six percent today, while Wistech 35 00:01:52,840 --> 00:01:55,480 Speaker 1: and next DC were both off between two and three percent. 36 00:01:56,040 --> 00:01:59,360 Speaker 1: From the energy stocks, Woodside and Santos both closed about 37 00:01:59,400 --> 00:02:02,120 Speaker 1: two and a half percent lower. The best performer today 38 00:02:02,160 --> 00:02:05,559 Speaker 1: was Drone Shield. The drone tech company secured a fifty 39 00:02:05,600 --> 00:02:08,480 Speaker 1: million dollar contract in Europe and that sent at share 40 00:02:08,520 --> 00:02:12,080 Speaker 1: price up more than twenty three percent. Today, the banks 41 00:02:12,160 --> 00:02:14,800 Speaker 1: all lost a little ground, with Westpac the worst of 42 00:02:14,840 --> 00:02:17,480 Speaker 1: the bunch, down one point two percent. While we're talking 43 00:02:17,480 --> 00:02:20,679 Speaker 1: about the banks, both National Australian Bank and Comwealth Bank 44 00:02:20,680 --> 00:02:23,359 Speaker 1: are now tipping a rate hike by the Reserve Bank 45 00:02:23,400 --> 00:02:27,359 Speaker 1: as soon as February, citing inflation pressures. They had previously 46 00:02:27,400 --> 00:02:30,200 Speaker 1: said that they expected no move at all next year. 47 00:02:30,840 --> 00:02:34,000 Speaker 1: Story number three. The new owners of Star Entertainment have 48 00:02:34,000 --> 00:02:38,200 Speaker 1: announced the departure of current CEO Steve McCann, with Bruce 49 00:02:38,280 --> 00:02:41,919 Speaker 1: Matheson Junior, the son of the group's second largest shareholder, 50 00:02:42,160 --> 00:02:46,040 Speaker 1: stepping in as executive chair. McCann, who is the highly 51 00:02:46,080 --> 00:02:49,760 Speaker 1: regarded former boss of lend Lease, oversaw Star through its 52 00:02:49,840 --> 00:02:52,360 Speaker 1: darkest hours, who will leave immediately, but will still be 53 00:02:52,400 --> 00:02:55,880 Speaker 1: available to help with government and regulatory issues until the 54 00:02:55,880 --> 00:02:58,920 Speaker 1: middle of next year, which could be handy as Star 55 00:02:59,040 --> 00:03:02,000 Speaker 1: is set to face a fire next year for previous 56 00:03:02,160 --> 00:03:05,640 Speaker 1: money laundering offenses, which could be as high as three 57 00:03:05,720 --> 00:03:09,560 Speaker 1: hundred million dollars. Bruce Matheson Junior said McCann joined at 58 00:03:09,600 --> 00:03:12,120 Speaker 1: a time of crisis for Star and has helped to 59 00:03:12,160 --> 00:03:15,560 Speaker 1: deliver a critical financial reset for the business and successfully 60 00:03:15,600 --> 00:03:19,640 Speaker 1: progressed the company's remediation plan. While there is still much 61 00:03:19,680 --> 00:03:22,440 Speaker 1: work to do, Star appears to have succeeded in remaining 62 00:03:22,440 --> 00:03:25,360 Speaker 1: a going concern, and share price is up nearly thirty 63 00:03:25,400 --> 00:03:28,000 Speaker 1: percent in the past month. It was a high pressure 64 00:03:28,080 --> 00:03:32,720 Speaker 1: stint for McCann, but arguably a lucrative one. After seventeen months, 65 00:03:32,720 --> 00:03:35,440 Speaker 1: he leaves with around sixteen million dollars in pay and 66 00:03:35,520 --> 00:03:40,080 Speaker 1: cash bonuses. On to story number four and a youth 67 00:03:40,160 --> 00:03:44,120 Speaker 1: homelessness charity has been reprimanded After cutting the salaries of 68 00:03:44,200 --> 00:03:48,360 Speaker 1: mail staff in an attempt to address gender pay concerns, 69 00:03:48,680 --> 00:03:52,920 Speaker 1: the Fair Work Commission found u turn unlawfully repudiated the 70 00:03:52,960 --> 00:03:56,440 Speaker 1: contracts of three long serving mail case managers when it 71 00:03:56,480 --> 00:03:59,080 Speaker 1: demoted them and cut their pay by about ten thousand 72 00:03:59,160 --> 00:04:01,960 Speaker 1: dollars a year. The cuts were made after new recruits, 73 00:04:02,000 --> 00:04:04,520 Speaker 1: who were all women and had been hired at a 74 00:04:04,560 --> 00:04:08,280 Speaker 1: lower level of the relevant award, complained that they were 75 00:04:08,320 --> 00:04:11,680 Speaker 1: being paid less than the existing mail staff, but Commissioner 76 00:04:11,760 --> 00:04:14,880 Speaker 1: Jennifer Hunt said the organization responded in the wrong way. 77 00:04:15,160 --> 00:04:17,960 Speaker 1: She said, one does not break the glass ceiling by 78 00:04:18,000 --> 00:04:21,359 Speaker 1: amputating the legs of the men above. The commission found 79 00:04:21,440 --> 00:04:24,640 Speaker 1: u Turn had previously grandfathered the men's higher pay, it 80 00:04:24,680 --> 00:04:27,560 Speaker 1: was not legally required to reduce it. The demotions were 81 00:04:27,600 --> 00:04:31,000 Speaker 1: ruled significant enough to amount determination, opening the door to 82 00:04:31,120 --> 00:04:34,720 Speaker 1: legal action. And finally, story number five, President Donald Trump 83 00:04:34,839 --> 00:04:39,800 Speaker 1: has drawn bipartisan condemnation after making inflammatory remarks about actor 84 00:04:39,880 --> 00:04:43,280 Speaker 1: and director Rob Ryner following his death. In a post 85 00:04:43,279 --> 00:04:48,520 Speaker 1: on truth Social the President suggested Rhyiner's outspoken criticism of 86 00:04:48,640 --> 00:04:52,080 Speaker 1: him had contributed to his death, saying and I quote 87 00:04:52,360 --> 00:04:55,080 Speaker 1: he was known to have driven people crazy by his 88 00:04:55,279 --> 00:04:58,800 Speaker 1: raging obsession with President Donald J. Trump, and that he 89 00:04:58,839 --> 00:05:03,120 Speaker 1: had the mind cripple disease known as Trump derangement syndrome. 90 00:05:03,600 --> 00:05:06,159 Speaker 1: Ryaner and his wife were found dead at their home 91 00:05:06,200 --> 00:05:08,880 Speaker 1: in Los Angeles on the weekend, with their son charged 92 00:05:08,920 --> 00:05:12,919 Speaker 1: over the killings. No motive has been established. Republicans and 93 00:05:12,960 --> 00:05:17,279 Speaker 1: Democrats alike have criticized Donald Trump's remarks, calling them inappropriate 94 00:05:17,320 --> 00:05:20,479 Speaker 1: and disrespectful. House Speaker Mike Johnson said it was time 95 00:05:20,600 --> 00:05:24,479 Speaker 1: to appeal to our better angels, while the Democrats described 96 00:05:24,520 --> 00:05:28,279 Speaker 1: the comments as heartless. When asked, Donald Trump doubled down, 97 00:05:28,400 --> 00:05:30,839 Speaker 1: saying he was not a Rhiner fan. And that's it 98 00:05:30,960 --> 00:05:33,720 Speaker 1: for the afternoon Report for Tuesday, the sixteenth of December. 99 00:05:33,760 --> 00:05:35,920 Speaker 1: Make sure you're following the podcast and head along to 100 00:05:36,000 --> 00:05:37,760 Speaker 1: Fear and Greed dot com. Doda you to sign up 101 00:05:37,800 --> 00:05:40,920 Speaker 1: for our free daily newsletter. I'm Michael Thompson. Enjoy your evening.