1 00:00:03,680 --> 00:00:06,080 Speaker 1: Welcome to the Fear and Greed Business News. The Afternoon 2 00:00:06,120 --> 00:00:09,200 Speaker 1: Report for Monday, the sixteenth September twenty twenty four. I'm 3 00:00:09,240 --> 00:00:12,039 Speaker 1: Sean Elmer. Every afternoon, we've got the five stories that 4 00:00:12,160 --> 00:00:14,239 Speaker 1: happened today that you need to know about. Story number one. 5 00:00:14,280 --> 00:00:17,120 Speaker 1: The SMPA six two hundred closed up zero point three 6 00:00:17,160 --> 00:00:19,520 Speaker 1: percent today to eight thousand and one hundred and twenty 7 00:00:19,560 --> 00:00:23,040 Speaker 1: two points. Westpac led the banks, jumping two percent, taking 8 00:00:23,120 --> 00:00:26,520 Speaker 1: its twelve month rise to over fifty percent. National Australian 9 00:00:26,520 --> 00:00:30,200 Speaker 1: Bank and the Commonwealth also did well. Woolly's Ria, Brambles 10 00:00:30,200 --> 00:00:32,519 Speaker 1: and Some Corp did pretty well. Not so good with 11 00:00:32,600 --> 00:00:37,040 Speaker 1: the big miners Woodside and CSL. Plenty of corporate news around. 12 00:00:37,040 --> 00:00:39,880 Speaker 1: Mining company Alcoa's share price jumped to five and a 13 00:00:39,920 --> 00:00:42,320 Speaker 1: half percent, the best of the ASEX two hundred today, 14 00:00:42,600 --> 00:00:45,520 Speaker 1: after announcing plans to sell its twenty five point one 15 00:00:45,560 --> 00:00:49,479 Speaker 1: percent steak in its Madden joint venture to its partner, 16 00:00:49,840 --> 00:00:52,920 Speaker 1: the Saudi Arabian Mining Company, for about one point six 17 00:00:52,920 --> 00:00:57,240 Speaker 1: billion dollars. Defense ship builder Ostel surged twenty percent after 18 00:00:57,320 --> 00:01:00,440 Speaker 1: winning a four hundred and fifty million US dollar contract 19 00:01:00,440 --> 00:01:04,440 Speaker 1: with General Dynamics Electric Boat to expand production capacity in 20 00:01:04,560 --> 00:01:08,080 Speaker 1: Alabama trainee percent. It's not a top two hundred company. 21 00:01:08,080 --> 00:01:10,520 Speaker 1: That's why it wasn't the best of the top two hundred. 22 00:01:10,840 --> 00:01:13,520 Speaker 1: Property group lend least rally two percent. On news that 23 00:01:13,720 --> 00:01:17,319 Speaker 1: had completed the sale of its US East Coast Construction Operations, 24 00:01:17,640 --> 00:01:21,000 Speaker 1: Mineral Resources released a bullish estimate of possible gas resources 25 00:01:21,000 --> 00:01:24,000 Speaker 1: in its Lockier gas project in Western Australia's Perth basin. 26 00:01:24,440 --> 00:01:28,320 Speaker 1: Its share price was flat. Online retailer set I dropped 27 00:01:28,319 --> 00:01:32,080 Speaker 1: sharply on reports at Washington is considering reducing duty free 28 00:01:32,120 --> 00:01:35,959 Speaker 1: thresholds and Auckland International Airport will raise one point three 29 00:01:36,040 --> 00:01:40,480 Speaker 1: billion Aussie from shareholders to kickstart major upgrades. Story number 30 00:01:40,520 --> 00:01:42,520 Speaker 1: two BHP had a bit to say on copper today, 31 00:01:42,600 --> 00:01:45,840 Speaker 1: a commodity considered a bill weather for the economy. CFO 32 00:01:46,120 --> 00:01:49,160 Speaker 1: Van Deta Pant told The Financial Times that the growth 33 00:01:49,200 --> 00:01:53,720 Speaker 1: of artificial intelligence will exacerbate a looming shortage of copper. 34 00:01:54,040 --> 00:01:56,400 Speaker 1: The rise of data centers in AI, which requires more 35 00:01:56,520 --> 00:02:00,200 Speaker 1: energy intensive computing, could boost global copper demand by three 36 00:02:00,240 --> 00:02:04,000 Speaker 1: point four million tons a year by twenty fifty. Centers 37 00:02:04,040 --> 00:02:07,200 Speaker 1: are less than one percent of copper demand currently, but 38 00:02:07,480 --> 00:02:09,840 Speaker 1: she said that's more likely to be six or seven 39 00:02:09,840 --> 00:02:13,280 Speaker 1: percent by twenty fifty. Meanwhile, oil prices are creeping higher, 40 00:02:13,320 --> 00:02:15,240 Speaker 1: as is the Audisi dollar, which is now trading at 41 00:02:15,240 --> 00:02:18,720 Speaker 1: sixty seven point three US cents straight number three. Precious 42 00:02:18,760 --> 00:02:20,840 Speaker 1: medals are having a great time of it, with gold 43 00:02:20,880 --> 00:02:23,519 Speaker 1: hitting a new record today just under two thousand and 44 00:02:23,560 --> 00:02:26,320 Speaker 1: five hundred and ninety US dollars an ounce. Silver jumped 45 00:02:26,360 --> 00:02:29,480 Speaker 1: ten percent last week to about thirty US dollars an ounce. 46 00:02:29,520 --> 00:02:31,840 Speaker 1: Both are up twenty five percent this year, adding the 47 00:02:31,880 --> 00:02:34,720 Speaker 1: possibility of a fifty basis point cut in the benchmark 48 00:02:34,760 --> 00:02:37,600 Speaker 1: interest rate in the US this week when the Federal 49 00:02:37,600 --> 00:02:41,320 Speaker 1: Reserve Board meets and gold and silver are well and 50 00:02:41,320 --> 00:02:43,520 Speaker 1: truly on the run. Now, when you invest in gold, 51 00:02:43,560 --> 00:02:46,080 Speaker 1: you don't get a regular return like a coupon payment. 52 00:02:46,360 --> 00:02:49,320 Speaker 1: What you get is safety. So when interest rates look 53 00:02:49,440 --> 00:02:51,640 Speaker 1: like falling, as they do in the US, gold becomes 54 00:02:51,840 --> 00:02:55,200 Speaker 1: relatively more attractive, as in you're not losing out as 55 00:02:55,240 --> 00:02:58,160 Speaker 1: much by not investing in bonds. On the local AX 56 00:02:58,160 --> 00:03:01,640 Speaker 1: gold leader Northern Star Resource share price is up nearly 57 00:03:01,639 --> 00:03:04,679 Speaker 1: twenty five percent since early July, while Evolution Mining is 58 00:03:04,760 --> 00:03:07,799 Speaker 1: up almost one third. Other local stocks to benefit have 59 00:03:07,880 --> 00:03:11,799 Speaker 1: been West African Resources and Emerald Resources straight um before. 60 00:03:12,040 --> 00:03:15,160 Speaker 1: There was more data breaches in the first six months 61 00:03:15,200 --> 00:03:18,400 Speaker 1: of twenty twenty four than any time over the past 62 00:03:18,440 --> 00:03:21,760 Speaker 1: three years, with health service providers most affected, followed by 63 00:03:21,760 --> 00:03:24,400 Speaker 1: the Australian government. From January to June this year, the 64 00:03:24,400 --> 00:03:28,720 Speaker 1: Australian Information Commission received five hundred and twenty seven data 65 00:03:28,919 --> 00:03:31,560 Speaker 1: breach notifications, an increase of nine percent compared to the 66 00:03:31,560 --> 00:03:35,560 Speaker 1: previous six months. Cybersecurity incidents contributed thirty eight percent of 67 00:03:35,560 --> 00:03:39,440 Speaker 1: the title, while malicious or criminal attacks accounted for about 68 00:03:39,520 --> 00:03:44,360 Speaker 1: two thirds. Worryingly, another thirty percent reflects human error and 69 00:03:44,440 --> 00:03:47,960 Speaker 1: only three percent was system fault. The majority sixty three 70 00:03:48,000 --> 00:03:51,520 Speaker 1: percent of data breaches affected one hundred people or fewer, 71 00:03:51,800 --> 00:03:55,160 Speaker 1: though one incident affected millions. Apart from health in the 72 00:03:55,160 --> 00:03:59,520 Speaker 1: federal government, finance, education and retail organizations are among the 73 00:03:59,520 --> 00:04:03,440 Speaker 1: groups that notified most data breaches and straying number five. 74 00:04:03,440 --> 00:04:06,080 Speaker 1: Donald Trump was the target of what the FBI said 75 00:04:06,160 --> 00:04:09,840 Speaker 1: appears to be an attempted assassination at his golf club 76 00:04:09,880 --> 00:04:13,520 Speaker 1: in Florida this morning Australian time. It came nine weeks 77 00:04:13,520 --> 00:04:17,120 Speaker 1: after the Republican presidential nominee survived another attempt on his life. 78 00:04:17,279 --> 00:04:19,479 Speaker 1: Trump said he was safe and well, and authorities held 79 00:04:19,480 --> 00:04:22,919 Speaker 1: a man in custody. US Secret Service agents stationed a 80 00:04:22,960 --> 00:04:26,080 Speaker 1: few holes up from where Trump was playing, noticed the 81 00:04:26,200 --> 00:04:30,120 Speaker 1: muzzle of an AK style rifle sticking through the shrubbery 82 00:04:30,160 --> 00:04:32,800 Speaker 1: that lines the course roughly three hundred and sixty five 83 00:04:32,839 --> 00:04:35,680 Speaker 1: meters away. An agent fired and the gunman dropped the 84 00:04:35,760 --> 00:04:38,520 Speaker 1: rifle and fled in an suv, leaving the gun behind 85 00:04:38,520 --> 00:04:42,000 Speaker 1: along with two backpacks escape used for aiming, and a 86 00:04:42,040 --> 00:04:44,720 Speaker 1: go pro camera. The man was later stopped by law 87 00:04:44,800 --> 00:04:47,760 Speaker 1: enforcement in a neighbouring county. The suspect was fifty eight 88 00:04:47,880 --> 00:04:52,240 Speaker 1: year old Ryan Wesley Ruth, who apparently had previously tried 89 00:04:52,279 --> 00:04:56,240 Speaker 1: to recruit Afghan's soldiers fleeing the Taliban to fight in Ukraine. 90 00:04:56,400 --> 00:04:59,320 Speaker 1: Both President Joe Biden and Vice President KRMLA Harris were 91 00:04:59,320 --> 00:05:01,560 Speaker 1: briefed on the main and in a statement, Missus Harris 92 00:05:01,880 --> 00:05:04,320 Speaker 1: said that violence has no place in America, saying she 93 00:05:04,400 --> 00:05:07,000 Speaker 1: was deeply disturbed by what happened. That's it for the 94 00:05:07,080 --> 00:05:10,479 Speaker 1: Afternoon Report for Monday, the sixteenth of September twenty twenty four. 95 00:05:10,520 --> 00:05:12,720 Speaker 1: Michael Thompson and I will be back tomorrow morning with 96 00:05:12,880 --> 00:05:15,279 Speaker 1: the Tuesday edition of Here in Green Business News. I'm 97 00:05:15,279 --> 00:05:17,200 Speaker 1: Sean Alma. Enjoy your evening.