1 00:00:04,240 --> 00:00:07,080 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,120 --> 00:00:10,119 Speaker 1: for Thursday, the twenty seventh of November. I'm Michael Thompson, 3 00:00:10,119 --> 00:00:12,799 Speaker 1: and every afternoon we have the five stories that happened 4 00:00:12,840 --> 00:00:14,720 Speaker 1: today that you need to know about. Let's go with 5 00:00:14,760 --> 00:00:16,599 Speaker 1: story number one is all about markets. The S and 6 00:00:16,680 --> 00:00:19,639 Speaker 1: p ASX two hundred closed up just a touch today, 7 00:00:19,760 --> 00:00:23,279 Speaker 1: zero point one percent to eighty six hundred and seventeen points, 8 00:00:23,800 --> 00:00:26,639 Speaker 1: after a pretty steady session. The market did have a 9 00:00:26,680 --> 00:00:29,160 Speaker 1: strong lead in from Wall Street investors. There are still 10 00:00:29,200 --> 00:00:32,240 Speaker 1: optimistic of a rate cut from the Fed next month. 11 00:00:32,760 --> 00:00:35,879 Speaker 1: That then helped the tech stocks here Zero was up 12 00:00:35,920 --> 00:00:39,280 Speaker 1: two percent, tracking app Life three sixty almost three percent. 13 00:00:39,680 --> 00:00:42,880 Speaker 1: Wiseet Global climbed six percent, though that was also after 14 00:00:42,920 --> 00:00:46,040 Speaker 1: a new Bord appointment. Not all the tech stocks, though, 15 00:00:46,200 --> 00:00:49,080 Speaker 1: had a good one. Drone Shield was the exception the 16 00:00:49,120 --> 00:00:52,040 Speaker 1: worst performer on the ASEX two hundred today after it 17 00:00:52,080 --> 00:00:55,280 Speaker 1: fell more than nine percent. The gold price climbed and 18 00:00:55,320 --> 00:00:57,200 Speaker 1: the gold miners had a good day. It feels like 19 00:00:57,520 --> 00:01:00,960 Speaker 1: I've said that plenty of times now stocks didn't do 20 00:01:01,040 --> 00:01:03,760 Speaker 1: too well. The price of oil dipped ahead of an 21 00:01:03,760 --> 00:01:07,679 Speaker 1: OPEC plus meeting this weekend. That hit wood side in Santos, 22 00:01:07,880 --> 00:01:10,800 Speaker 1: where Tinto and Fordescue were also among the worst performers 23 00:01:10,880 --> 00:01:13,440 Speaker 1: of the large caps. A very quick mention of the 24 00:01:13,480 --> 00:01:17,280 Speaker 1: biggest piece of economic news today, business investment, which is 25 00:01:17,319 --> 00:01:21,039 Speaker 1: a key underpinning of economic growth, has recorded its biggest 26 00:01:21,240 --> 00:01:25,120 Speaker 1: jump in four years, adding more evidence that the economy 27 00:01:25,240 --> 00:01:27,560 Speaker 1: is picking up pace. We will have more on this 28 00:01:27,600 --> 00:01:30,840 Speaker 1: one tomorrow morning. Onto story number two. It is the 29 00:01:30,920 --> 00:01:33,960 Speaker 1: last sitting day for Parliament in Canberra for the year 30 00:01:34,400 --> 00:01:37,399 Speaker 1: and I'd say it's over delivered in terms of last 31 00:01:37,480 --> 00:01:41,040 Speaker 1: day drama. We'll start with former Nationals leader Barnaby Joyce, 32 00:01:41,040 --> 00:01:44,119 Speaker 1: who announced today that he is leaving the part. He's 33 00:01:44,160 --> 00:01:46,680 Speaker 1: been talking about it all week, a couple of weeks really. 34 00:01:46,920 --> 00:01:49,040 Speaker 1: He's going to sit on the cross bench in the 35 00:01:49,080 --> 00:01:52,600 Speaker 1: lower House. He hasn't decided on his next move, saying 36 00:01:52,800 --> 00:01:57,480 Speaker 1: he's still weighing up all opportunities, including business, although I 37 00:01:57,600 --> 00:02:01,640 Speaker 1: quote he is strongly considering running for the Senate under 38 00:02:01,640 --> 00:02:04,160 Speaker 1: the One Nation banner. He has been with the National 39 00:02:04,160 --> 00:02:07,640 Speaker 1: Party now for a twenty year parliamentary career. It is 40 00:02:07,680 --> 00:02:10,320 Speaker 1: certainly the end of an era at Former Prime Minister 41 00:02:10,440 --> 00:02:13,520 Speaker 1: Malcolm Turnbull was in town for the unveiling of his 42 00:02:13,800 --> 00:02:17,040 Speaker 1: official portrait, had a few choice words for current Liberal 43 00:02:17,160 --> 00:02:20,440 Speaker 1: leader Susan Lee. Suffice to say he was not very 44 00:02:20,440 --> 00:02:23,440 Speaker 1: sympathetic to a plight. Trying to hold the coalition and 45 00:02:23,520 --> 00:02:27,120 Speaker 1: her party together, and Prime Minister Anthony Albernezi secured a 46 00:02:27,160 --> 00:02:30,280 Speaker 1: deal with the Greens to pass an overhaul of environmental laws. 47 00:02:30,480 --> 00:02:34,040 Speaker 1: He said the reforms will provide better environmental protections while 48 00:02:34,080 --> 00:02:36,840 Speaker 1: at the same time speeding up approvals for key projects 49 00:02:36,919 --> 00:02:41,280 Speaker 1: including housing, critical minerals and energy. Story number three. Staying 50 00:02:41,320 --> 00:02:44,200 Speaker 1: with the environment, Labour is on track to miss its 51 00:02:44,240 --> 00:02:48,480 Speaker 1: twenty thirty five emissions reduction target, a new report showing 52 00:02:48,720 --> 00:02:51,480 Speaker 1: it is on track to reach a forty eight percent 53 00:02:51,560 --> 00:02:56,320 Speaker 1: reduction rather than its sixty two percent goal. Documents released 54 00:02:56,320 --> 00:03:00,080 Speaker 1: by the Climate Change Department reveal significantly more action is 55 00:03:00,160 --> 00:03:03,320 Speaker 1: required should the target be met. In a speech handed 56 00:03:03,320 --> 00:03:06,359 Speaker 1: down alongside the document, climate Change Minister Chris Bowen said 57 00:03:06,360 --> 00:03:09,160 Speaker 1: the country was broadly on track to reach its twenty 58 00:03:09,320 --> 00:03:12,800 Speaker 1: thirty target, but conceded that the twenty thirty five target 59 00:03:12,960 --> 00:03:16,280 Speaker 1: was ambitious and not yet being achieved. Plenty of work 60 00:03:16,320 --> 00:03:19,720 Speaker 1: still to do there. Story number four. At least Forty 61 00:03:19,800 --> 00:03:22,440 Speaker 1: four people have been killed in a major fire at 62 00:03:22,440 --> 00:03:26,000 Speaker 1: a residential tower complex in Hong Kong. The death toll 63 00:03:26,240 --> 00:03:30,160 Speaker 1: is expected to climb significantly, with sixty two people still 64 00:03:30,160 --> 00:03:33,440 Speaker 1: in hospital and about two hundred and eighty still missing. 65 00:03:33,760 --> 00:03:36,800 Speaker 1: The fires are continuing to burn at the thirty two 66 00:03:36,880 --> 00:03:40,400 Speaker 1: story complex. Of the eight apartment buildings in the complex, 67 00:03:40,440 --> 00:03:43,960 Speaker 1: the blazer are still uncontained in three of the buildings. 68 00:03:44,200 --> 00:03:48,000 Speaker 1: Almost twenty four hours after the fires began. The buildings 69 00:03:48,000 --> 00:03:50,560 Speaker 1: that caught a light were undergoing renovation, and Hong Kong 70 00:03:50,600 --> 00:03:53,800 Speaker 1: police have arrested three people from an engineering firm on 71 00:03:53,880 --> 00:03:57,800 Speaker 1: suspicion of manslaughter. Although investigators are still determining the cause, 72 00:03:58,160 --> 00:04:01,640 Speaker 1: They are looking at whether bamboo scat and green construction 73 00:04:01,800 --> 00:04:04,600 Speaker 1: mesh that were wrapped around parts of the buildings might 74 00:04:04,600 --> 00:04:08,120 Speaker 1: have helped the flames spread, and finally, story number five. 75 00:04:08,280 --> 00:04:11,600 Speaker 1: Two National Guard soldiers have been shot in Washington, DC 76 00:04:12,200 --> 00:04:15,400 Speaker 1: in what's been described as a targeted ambush and an 77 00:04:15,480 --> 00:04:18,640 Speaker 1: act of terror. The New York Times reports officials have 78 00:04:18,720 --> 00:04:21,840 Speaker 1: identified the shooter as a twenty nine year old Afghan 79 00:04:21,920 --> 00:04:24,560 Speaker 1: national who came to the US in twenty twenty one, 80 00:04:24,600 --> 00:04:27,800 Speaker 1: and a special visa program for Afghans who helped the 81 00:04:27,920 --> 00:04:30,400 Speaker 1: US during the war there and were at risk of 82 00:04:30,440 --> 00:04:33,560 Speaker 1: reprisals from the Taliban. The two soldiers were part of 83 00:04:33,600 --> 00:04:37,200 Speaker 1: a high visibility patrol when they were attacked at around 84 00:04:37,200 --> 00:04:40,200 Speaker 1: two pm local time a few blocks from the White House. 85 00:04:40,560 --> 00:04:43,840 Speaker 1: Both remain in a critical condition in hospital. The shooter 86 00:04:44,120 --> 00:04:47,440 Speaker 1: was also wounded in a shootout with other National Guard soldiers. 87 00:04:47,760 --> 00:04:50,719 Speaker 1: President Donald Trump has released a video calling the alleged 88 00:04:50,720 --> 00:04:54,599 Speaker 1: shooter a monster and saying we must now re examine 89 00:04:54,640 --> 00:04:58,200 Speaker 1: every single alien who has entered our country from Afghanistan. 90 00:04:58,560 --> 00:05:02,440 Speaker 1: The US has suspended immigration applications from the country. That's 91 00:05:02,480 --> 00:05:05,520 Speaker 1: it for the afternoon Report for Thursday, the twenty seventh 92 00:05:05,560 --> 00:05:08,480 Speaker 1: of November. Make sure you're following the podcast, and please 93 00:05:08,760 --> 00:05:11,000 Speaker 1: head along to Fearangreed dot com dot au to sign 94 00:05:11,040 --> 00:05:12,960 Speaker 1: up for our free daily newsletter. I'll put a link 95 00:05:12,960 --> 00:05:15,359 Speaker 1: in the show notes as well. I'm Michael Thompson. Have 96 00:05:15,440 --> 00:05:16,040 Speaker 1: a good evening.