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

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Speaker 1: for Tuesday, the sixteenth of September twenty twenty five. Are

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Speaker 1: Michael Thompson. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Let's go

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Speaker 1: with story number one. The S and P ASX two

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Speaker 1: hundred climbed zero point three percent today to eight hundred

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Speaker 1: and seventy eight points after another strong leading from Wall

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Speaker 1: Street ahead of an expected interest rate cut in the US.

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Speaker 1: Records were actually set on both the S and P

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Speaker 1: five hundred and the tech heavy Nasdaq in the States. Locally,

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Speaker 1: higher iron ore prices saw the big miners climb. BHP

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Speaker 1: re at, Tinto, Fortescue were all up, with the price

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Speaker 1: of iron ore near one hundred and seven US dollars

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Speaker 1: a ton. The reason for that's quite interesting. The fin

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Speaker 1: Review reports that part of the reason for the climb

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Speaker 1: was the resumption of steel production in China after pollution

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Speaker 1: limits had been imposed for Beijing's big military parade that

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Speaker 1: we talked about earlier in the month. Shut down a

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Speaker 1: lot of the factories for that in order to reduce

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Speaker 1: the pollution. They've now resumed steel production back underway, iron

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Speaker 1: or price goes back up. There you go. Gold has

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Speaker 1: hit another record three six hundred and eighty nine US

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Speaker 1: dollars and ounce climbing once more ahead of the fed's meeting.

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Speaker 1: A lot tied to the FED this week that pulled

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Speaker 1: the local gold miners up. Bellevue Gold, for instance, closed

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Speaker 1: six point three percent higher, and reports that the US

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Speaker 1: is looking to boost strategic uranium stockpiles saw local uranium

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Speaker 1: miners climb. The terrifically named Deep Yellow was up more

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Speaker 1: than nine percent today onto story number two now and

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Speaker 1: the worst performer on the local burse today was Super

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Speaker 1: Retail Group, which slumped four point three percent following the

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Speaker 1: sacking of chief executive Anthony Herity due to an undisclosed

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Speaker 1: office romance with the company's former chief human resources officer.

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Speaker 1: There was a bit of corporate news around today that

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Speaker 1: was one of the big ones. A more positive story,

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Speaker 1: Chemist Warehouse parents Sigma Healthcare has appointed for former JB

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Speaker 1: High Fi chief executive Richard Murray as chief financial officer.

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Speaker 1: Murray is very well known in the retail world. He's

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Speaker 1: spent nearly two decades at JB High five before going

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Speaker 1: to Premier Investments and then on to Total Tools story

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Speaker 1: number three. With earning season out of the way, attention

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Speaker 1: is now turning towards annual general Meetings agms, and one

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Speaker 1: chair who's going to face angry shareholders is James Hardy

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Speaker 1: chairwoman Anne Lloyd, with analysts speculating that she's at risk

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Speaker 1: of being dumped. Hardy's AGM is taking place next month.

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Speaker 1: Lloyd has been in the role since late twenty twenty

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Speaker 1: two and presided over the unpopular fourteen billion dollar buyout

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Speaker 1: of outdoor decking company Aseek in the US. She's among

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Speaker 1: three James Hardy directors due for re election at the

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Speaker 1: annual meeting on October thirty. Media outlets are quoting investment

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Speaker 1: analysts who say there's a chance that Lloyd will lose

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Speaker 1: her job and that suggests volatility in Hardy's share price.

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Speaker 1: Australian shareholders were denied a vote in the AZEC deal

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Speaker 1: and we talked about this quite a bit at the time,

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Speaker 1: not helping the mood. No it was a sixty percent

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Speaker 1: fall in net profit during the June quarter. James Hardy's

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Speaker 1: share price is down thirty percent over the past month.

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Speaker 1: It was one of the big movers during reporting season

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Speaker 1: story Number four, NBN CO has announced one of the

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Speaker 1: biggest internet upgrades in the nation's history. Millions of homes

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Speaker 1: and businesses now reportedly able to access up to five

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Speaker 1: times faster speeds under the program, which they have called

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Speaker 1: Accelerate Great Wholesale download speeds will jump as high as

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Speaker 1: two thousand megabits per second for some customers. Upload speeds

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Speaker 1: are also increasing sharply. NBN says that more than nine

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Speaker 1: point eight million premises are already eligible, with the figure

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Speaker 1: to pass ten million by the end of the year.

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Speaker 1: They say that the changes reflect soaring demand, with the

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Speaker 1: average household now running how about this twenty five connected

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Speaker 1: devices and that number is expected to almost double by

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Speaker 1: twenty thirty. And finally, sorry number five if the showdown

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Speaker 1: between Donald Trump and America's Central Bank has escalated, with

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Speaker 1: the US Appeals Court blocking the President's attempt to remove

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Speaker 1: Federal Reserve Governor Lisa Cook. The ruling means that Cook

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Speaker 1: can remain in her role as the Fed meets this

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Speaker 1: week to set interest rates, which we've talked about already.

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Speaker 1: There is a chance, though, still, that the President could

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Speaker 1: ask the Supreme Court to intervene. At the same time,

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Speaker 1: the Senate has confirmed trump ally Stephen Miron to the board,

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Speaker 1: adding to pressure on the FED to cut rates. Economists

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Speaker 1: are expecting a quarter point reduction. Economists are widely expecting

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Speaker 1: a twenty five basis point reduction, though Donald Trump is

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Speaker 1: calling for a bigger move and we will find out

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Speaker 1: the decision at four am Thursday Australian time. That's it

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Speaker 1: for the afternoon report for Tuesday, the sixteenth of September

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Speaker 1: twenty twenty five. Make sure you follow on the podcast

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Speaker 1: and moving back tomorrow morning with the Wednesday edition of

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Speaker 1: the Fast five Business News by Fear and greed On

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Speaker 1: Michael Thompson. Thank Yeah,