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

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Speaker 1: the seventh of July twenty twenty five. I'm sure, alma,

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Speaker 1: every afternoon, we've got the five stories that happened today

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Speaker 1: that you need to know about. Story number one. The

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Speaker 1: SMPASX two hundred finished down just touch today to eight thousand,

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Speaker 1: five hundred and eighty nine points. Utilities did best in

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Speaker 1: a relatively quiet day, while material stocks were worse. Among

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Speaker 1: the large caps, all the big banks were lower, while

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Speaker 1: West Farmers fell two percent and Woodside and Transurban dropped

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Speaker 1: one percent. CSL was the best performer, up more than

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Speaker 1: two percent. Story number two on global markets, Fuel prices

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Speaker 1: are set to fall after Opec plus accelerated plans to

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Speaker 1: lift output, triggering fears of an oversupply. Now, it depends

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Speaker 1: on how you look at this as an oil supply.

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Speaker 1: You might not like the idea of an oil glut.

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Speaker 1: As a user, think we people have put petrol into

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Speaker 1: our cars. It's somewhat more attractive because it should put

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Speaker 1: downward pressure on prices. Over the week. Kendopeck plus spent

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Speaker 1: just ten minutes on a video call before agreeing to

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Speaker 1: up output. It comes as US President Donald Trump calls

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Speaker 1: for lower fuel costs. In the short term, analysts say

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Speaker 1: the market is tight and can absorb the increased production.

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Speaker 1: But when the northern winter kicks in and people aren't

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Speaker 1: driving their cars as much in the US, that's likely

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Speaker 1: to see a drop in demand and that could see

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Speaker 1: a sharp fallen prices. Story Number three Star Entertainment has

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Speaker 1: postponed any final decision on the sale of its stake

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Speaker 1: in Brisbane's new Queen's Warf casino and hotel complex until

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Speaker 1: the end of this month. But if the deal doesn't

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Speaker 1: go ahead then Star will have to pay thirty seven

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Speaker 1: million dollars. Now Choo Tayfouk Enterprises and Far East Consortium

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Speaker 1: each owned twenty five percent of the Brisbane precinct they

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Speaker 1: had planned to buy Star's steak. Last week, they threatened

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Speaker 1: to walk away from the deal, which was struck when

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Speaker 1: the gaming group was desperate for cash. Today, Star said

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Speaker 1: Invested had agreed to postpone a final call on the

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Speaker 1: deal until the end of this month. Now, if a

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Speaker 1: deal isn't reached, the Stars up for effectively a poison

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Speaker 1: pilled thirty six point five million dollars. Storing Number four

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Speaker 1: Gold Stocks were the big winners in the twenty twenty

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Speaker 1: five financial year, but the precarious nature of their success

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Speaker 1: was demonstrated today when market leader Northern Star said output

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Speaker 1: would be at the lower end of its forecast range,

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Speaker 1: sending its share price sharply lower. In fact, it was

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Speaker 1: the worst performing stock on the ASX two hundred, down

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Speaker 1: to nine percent. Northern Style also outlined plans to boost

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Speaker 1: capital expended expenditure to increase output. Meanwhile, Bellevue Gold reported

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Speaker 1: strong production rates and its share price jumped to two percent,

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Speaker 1: and Regius Resources, another gold digger, produced gold at the

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Speaker 1: top end of its guidance range, but its share price

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Speaker 1: finished two percent lower. Finally, story number five in corporate News,

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Speaker 1: Lifestyle Communities ended a trading halt this morning ahead of

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Speaker 1: an announcement in connection with proceedings currently before the Victorian

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Speaker 1: Civil and Administrative Tribunal. By the afternoon, the tribunal had

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Speaker 1: found that the group had been charging residents significant exit

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Speaker 1: fees without properly disclosing them, and they need to be scrapped.

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Speaker 1: Points Bet, which has operations in both Australia and Canada,

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Speaker 1: said that the Alcohol and Gaming Commission of Ontario has

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Speaker 1: approved the bookmaker's takeover by Japanese gaming giant Mixy, and

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Speaker 1: South thirty two rose after announcing it had entered into

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Speaker 1: an agreement to sell its Columbian nickel mine to a

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Speaker 1: global industrial conglomerate called Correx for one hundred and fifty

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Speaker 1: three million dollars. It follows a review into the nickel

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Speaker 1: market by South thirty two. That's at Theouthnoon Report for Monday,

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Speaker 1: the seventh of July twenty twenty five. Make sure you

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Speaker 1: hit follow on the podcast. We'll be back tomorrow morning

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Speaker 1: with the Tuesday edition of the Fast five Business News

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Speaker 1: by Few and Greed. I'm Sean Elmer. Enjoy your reading