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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 fifteenth of October twenty twenty four. I'm

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Speaker 1: suan alma. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Story and

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Speaker 1: I one. The local share market finished up nearly one

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Speaker 1: percent today to a new record close of eighty three

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Speaker 1: hundred and eighteen points. The banks and the miners led

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Speaker 1: the way, but there were plenty of positive stories out

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Speaker 1: there in corporate news. Investment platform Business Hub twenty four

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Speaker 1: jump two and a half per cent after announcing record

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Speaker 1: quarterly net inflows of four billion dollars. Total funds under

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Speaker 1: administration in one hundred and thirteen billion dollars, and the

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Speaker 1: company said it's confident that it will meet its target

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Speaker 1: of somewhere up to one hundred and twenty three billion

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Speaker 1: dollars this financial year. Ampole announced a fifty million dollar

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Speaker 1: cost cutting plan to be rolled out next year. It

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Speaker 1: came after the group reported a big drop in quarterly

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Speaker 1: refinery margins as weak demand for some oil products and

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Speaker 1: an outage weighed on the business. It's share price closed

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Speaker 1: down two percent and Tiro Payments share price tumbled thirteen

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Speaker 1: percent after the federal government announced that it intends to

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Speaker 1: crack down on debit cards surcharges Story number two. There

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Speaker 1: are media reports around today about the government wanting to

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Speaker 1: introduce a flat daily fee for all childcare. It would

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Speaker 1: be part of the government's push for universal child care

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Speaker 1: and goes against recent recommendations of the Productivity Commission. The

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Speaker 1: fin Reviews reporting that flat fee options of ten dollars

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Speaker 1: and twenty dollars are being considered as is the mechanism

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Speaker 1: for moving from the current subsidy system to flat fees

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Speaker 1: while maintaining capacity. The option would include removing the requirement

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Speaker 1: for parents to look for work or do some training,

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Speaker 1: and is likely to trigger a huge demand. Storry number three.

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Speaker 1: Australians are being told not to travel to Israel and

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Speaker 1: leave as soon as possible as hostilities escalape between the

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Speaker 1: Jewish state and its neighbors. After draining attack by Hesbalah

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Speaker 1: breached Israel's Iron Dame air defense system, killing four soldiers

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Speaker 1: at a military base in northern Israel, the Department of

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Speaker 1: Foreign Afairs and Trade update at its travel advice for Israel.

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Speaker 1: The advice says, and I quote we now advise do

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Speaker 1: not travel to Israel and the occupied Palestinian territories due

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Speaker 1: to the volatile security situation, armed conflict, civil unrest and terrorism.

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Speaker 1: If you're in Israel, you should leave while commercial flights

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Speaker 1: remain available, border crossings are open, and while it's safe

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Speaker 1: to do so. Default warns that the situation could deteriorate

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Speaker 1: quickly with little or no notice, and that could mean

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Speaker 1: airspace closures, flight cancelations, diversions and other travel disruptions, sjoining

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Speaker 1: them before. Telstra held it's annual general meeting for its

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Speaker 1: one million plus shareholders today and new chair Craig Dunn

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Speaker 1: said he'd support a sale of Foxtel and the TELCA

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Speaker 1: would consider paying shareholders a special dividend if that occurred.

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Speaker 1: Mister duns the telco understood a News Corp was undertaking a

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Speaker 1: strategic review of the business, which could lead to a

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Speaker 1: potential sale that would include Telstra's thirty five percent steak.

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Speaker 1: He said that would be a sensible decision. According to

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Speaker 1: a report in The Australian, mister dunna ed Telstra was

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Speaker 1: continuing to focus on its core business and Foxtel is

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Speaker 1: in part of that. Asked by a shareholder whether the

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Speaker 1: sale would warrant a special dividend for shareholders. Mister Dunn

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Speaker 1: said the telco would consider it as it had in

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Speaker 1: the past and story number five. Until a week ago,

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Speaker 1: you couldn't bet in the US on the presidential election.

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Speaker 1: A court victory in Washington open the market and the

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Speaker 1: money is flooding in. With Donald Trump narrowly favored over

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Speaker 1: KARMLA Harris Financial Exchange CALCI, his court victory opened up

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Speaker 1: the market is offering institutional investors the opportunity to put

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Speaker 1: as much as one hundred million US dollars on either KRMLA,

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Speaker 1: Harris or Trump for a win in November. In the

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Speaker 1: first days since the ban was lifted, more than twelve

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Speaker 1: million dollars has been waged, and the company is in

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Speaker 1: the process of setting up several institutional players on the platform.

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Speaker 1: According to report in the Financial Times, the amounts are

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Speaker 1: expected to continue growing as election day neers and more

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Speaker 1: traders are attracted to the platform. That's it if the

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Speaker 1: afternoon report for Tuesday, the fifteenth October twenty twenty four,

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Speaker 1: Michael Thomas and I will be back tomorrow morning with

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Speaker 1: the Wednesday edition of Fear and Greed Business views. I'm

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Speaker 1: sure Elma enjoy your evening