1 00:00:03,600 --> 00:00:06,400 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,480 --> 00:00:09,760 Speaker 1: for Friday, the nineteenth of December twenty twenty five. I'm 3 00:00:09,800 --> 00:00:12,440 Speaker 1: Michael Thompson, and every afternoon we've got the five stories 4 00:00:12,440 --> 00:00:14,880 Speaker 1: that happened today that you need to know about. So 5 00:00:15,000 --> 00:00:17,400 Speaker 1: let's go with story number one. The S and P 6 00:00:17,560 --> 00:00:20,840 Speaker 1: ASX two hundred closed zero point five percent higher today 7 00:00:20,880 --> 00:00:23,480 Speaker 1: to eighty six hundred and twenty eight points. Eight of 8 00:00:23,520 --> 00:00:26,239 Speaker 1: the eleven sectors gained ground. It was a good day, 9 00:00:26,600 --> 00:00:29,400 Speaker 1: not enough though, to overcome some losses earlier in the week. 10 00:00:29,600 --> 00:00:33,640 Speaker 1: The ASX two hundred was down zero point eight percent 11 00:00:33,960 --> 00:00:35,960 Speaker 1: for the week, but let's focus on today. It had 12 00:00:35,960 --> 00:00:38,280 Speaker 1: a good lead in from Wall Street, which came after 13 00:00:38,360 --> 00:00:41,600 Speaker 1: renewed hopes of more interest rate cuts in the United States. 14 00:00:42,120 --> 00:00:45,520 Speaker 1: The local tech stocks went well. Zip and Megaport were 15 00:00:45,560 --> 00:00:49,280 Speaker 1: more than three percent higher. Wistet Global climbed too, but 16 00:00:49,360 --> 00:00:51,280 Speaker 1: I'll have a bit more on that one shortly. The 17 00:00:51,400 --> 00:00:53,880 Speaker 1: banks had a good day, especially Comnwealth Bank up nearly 18 00:00:53,920 --> 00:00:57,280 Speaker 1: two percent, Westpac was one point three percent higher, NAB 19 00:00:57,360 --> 00:01:00,000 Speaker 1: almost one percent. Macquarie was up one and a half 20 00:01:00,040 --> 00:01:04,280 Speaker 1: percent despite receiving a thirty five million dollar fine from 21 00:01:04,319 --> 00:01:09,480 Speaker 1: ask over misreporting short securities sales over a fifteen year period. 22 00:01:09,959 --> 00:01:13,000 Speaker 1: Drone Shield was the best on the BOSS, up nearly 23 00:01:13,120 --> 00:01:16,720 Speaker 1: twelve percent, taking it to a hefty thirty one percent 24 00:01:16,800 --> 00:01:19,720 Speaker 1: gain for the week. Uranian miners had a cracking day, 25 00:01:20,200 --> 00:01:23,840 Speaker 1: not so the big iron ore miners Fortescue, for instance, 26 00:01:24,000 --> 00:01:26,119 Speaker 1: was off three point two percent for the day. Today 27 00:01:26,840 --> 00:01:29,280 Speaker 1: on de story number two, now and Prime Minister Anthony 28 00:01:29,319 --> 00:01:33,200 Speaker 1: Albernezi has announced the largest gun buyback scheme in almost 29 00:01:33,360 --> 00:01:36,559 Speaker 1: thirty years as part of the crackdown on gun laws 30 00:01:36,680 --> 00:01:40,160 Speaker 1: following the Bondai Beach terror attack. The Prime Minister today 31 00:01:40,240 --> 00:01:42,800 Speaker 1: said the cost of the buyback scheme would be split 32 00:01:43,280 --> 00:01:46,399 Speaker 1: with the states and territories, with hundreds of thousands of 33 00:01:46,400 --> 00:01:50,360 Speaker 1: firearms expected to be collected and destroyed. In New South Wales, 34 00:01:50,480 --> 00:01:53,200 Speaker 1: legislation will be tabled on Monday that we'll see gun 35 00:01:53,240 --> 00:01:56,920 Speaker 1: owners in the state allowed a maximum of four firearms each. 36 00:01:57,320 --> 00:02:00,960 Speaker 1: Sajid Akram, the fifty year old gunman who was killed 37 00:02:00,960 --> 00:02:05,560 Speaker 1: by police in Bondai on Sunday, legally held six firearms 38 00:02:05,680 --> 00:02:09,079 Speaker 1: in his home. Meanwhile, the Prime Minister has declared this 39 00:02:09,160 --> 00:02:11,920 Speaker 1: Sunday will be an official day of reflection with flags 40 00:02:11,919 --> 00:02:15,200 Speaker 1: of flight half masted and Australians encouraged to light a 41 00:02:15,200 --> 00:02:18,560 Speaker 1: candle at six forty six pm to mark exactly one 42 00:02:18,600 --> 00:02:21,320 Speaker 1: week since the start of the terror attack and just 43 00:02:21,360 --> 00:02:24,320 Speaker 1: before we leave this story, seven men arrested in Sydney 44 00:02:24,400 --> 00:02:29,040 Speaker 1: Southwest yesterday after heavily armed police rammed a vehicle have 45 00:02:29,160 --> 00:02:32,920 Speaker 1: been released from custody. New South Wales Police Commissioner Mallannion 46 00:02:33,240 --> 00:02:37,000 Speaker 1: said the justification for the group's ongoing detention quote no 47 00:02:37,080 --> 00:02:41,040 Speaker 1: longer exists subject to a review of evidence. It was 48 00:02:41,120 --> 00:02:44,160 Speaker 1: earlier reporter that the men were believed to have extremist 49 00:02:44,240 --> 00:02:48,400 Speaker 1: beliefs and had potentially traveled to Sydney from Victoria, where 50 00:02:48,400 --> 00:02:51,519 Speaker 1: they were known to Victoria Police and under regular monitoring. 51 00:02:52,160 --> 00:02:54,960 Speaker 1: Story number three I mentioned wis Tech Global before an 52 00:02:55,000 --> 00:02:59,000 Speaker 1: internal investigation into the company and the founder, Richard White, 53 00:02:59,040 --> 00:03:03,400 Speaker 1: has found no evidence that the billionaire misused company funds 54 00:03:03,400 --> 00:03:07,400 Speaker 1: in his personal relationships. The Australian Financial Review reports that 55 00:03:07,440 --> 00:03:11,960 Speaker 1: the review, conducted by law firm SI fath Shaw, was 56 00:03:12,040 --> 00:03:15,120 Speaker 1: commissioned after allegations last year forced White to resign as 57 00:03:15,240 --> 00:03:20,160 Speaker 1: chief executive. It examined Wisetech's expense system and records, and 58 00:03:20,200 --> 00:03:22,880 Speaker 1: found no evidence that company money was used to fund 59 00:03:23,000 --> 00:03:26,440 Speaker 1: travel or lifestyle expenses for two women linked to White. 60 00:03:26,680 --> 00:03:29,160 Speaker 1: Wise Tech said the board would take no further action, 61 00:03:29,320 --> 00:03:33,080 Speaker 1: effectively closing the chapter on the internal review, a separate 62 00:03:33,120 --> 00:03:35,880 Speaker 1: matter raised by a former employees being handled through a 63 00:03:35,880 --> 00:03:39,320 Speaker 1: confidential process. White, who owns about thirty four percent of 64 00:03:39,360 --> 00:03:43,000 Speaker 1: Wise Tech, returned earlier this year as executive chairman. Wisetech's 65 00:03:43,000 --> 00:03:46,400 Speaker 1: share price closed more than three percent higher today. Story 66 00:03:46,440 --> 00:03:49,400 Speaker 1: number four. Donald Trump's media company is merging with a 67 00:03:49,560 --> 00:03:53,360 Speaker 1: nuclear fusion startup in a deal valued at more than 68 00:03:53,560 --> 00:03:57,960 Speaker 1: six billion US dollars, so somewhat unusual pairing linking the 69 00:03:57,960 --> 00:04:01,520 Speaker 1: president's business empire with a futurist, clean energy play aimed 70 00:04:01,520 --> 00:04:05,720 Speaker 1: at powering artificial intelligence. Trump Media, which owns truth Social, 71 00:04:05,960 --> 00:04:09,400 Speaker 1: will merge with fusion firm TAE Technologies in an all 72 00:04:09,440 --> 00:04:13,000 Speaker 1: stock deal, creating one of the world's first publicly listed 73 00:04:13,160 --> 00:04:16,240 Speaker 1: fusion companies. The combined group says it plans to begin 74 00:04:16,360 --> 00:04:18,599 Speaker 1: work next year on what it calls the world's first 75 00:04:18,760 --> 00:04:23,280 Speaker 1: utility scale fusion power plant. Trump owns about forty one 76 00:04:23,279 --> 00:04:26,160 Speaker 1: percent of Trump Media, and the deal has added hundreds 77 00:04:26,200 --> 00:04:28,880 Speaker 1: of millions of dollars to his net worth. Critics, though, 78 00:04:28,920 --> 00:04:32,480 Speaker 1: have raised concerns about conflicts of interest given Trump's political 79 00:04:32,480 --> 00:04:36,880 Speaker 1: influence and the heavy regulation required to commercialize fusion energy. 80 00:04:37,480 --> 00:04:39,760 Speaker 1: And finally, story number five, This one, I suppose you 81 00:04:39,800 --> 00:04:43,320 Speaker 1: would say is business news adjacent, but it is Friday 82 00:04:43,360 --> 00:04:46,920 Speaker 1: afternoon after all. Kristin Cabot, who is the former HR 83 00:04:47,080 --> 00:04:50,880 Speaker 1: chief caught on a coldplay kiss cam with her CEO, 84 00:04:51,279 --> 00:04:54,000 Speaker 1: has spoken publicly for the first time about the fallout 85 00:04:54,080 --> 00:04:58,080 Speaker 1: from that very viral moment. Speaking to The New York Times, 86 00:04:58,360 --> 00:05:01,800 Speaker 1: Cabot says that both she and her then boss, astronomer 87 00:05:02,080 --> 00:05:06,120 Speaker 1: CEO Andy Byron, were separated from their partners at the 88 00:05:06,160 --> 00:05:07,839 Speaker 1: time of the incident. She went on to say that 89 00:05:07,880 --> 00:05:10,320 Speaker 1: she was not in a physical relationship with her boss 90 00:05:10,320 --> 00:05:13,279 Speaker 1: at the time, and described the incident as a single 91 00:05:13,480 --> 00:05:17,440 Speaker 1: alcohol fueled mistake that cost her career and upended her 92 00:05:17,440 --> 00:05:20,760 Speaker 1: family life. She says she was subjected to intense online abuse, 93 00:05:21,160 --> 00:05:25,040 Speaker 1: death threats, and relentless harassment after the footage went viral. 94 00:05:25,400 --> 00:05:27,599 Speaker 1: It really is quite a harrowing account of what she 95 00:05:27,680 --> 00:05:30,520 Speaker 1: went through in the days afterwards. Cabot resigned from her 96 00:05:30,600 --> 00:05:33,320 Speaker 1: role shortly after the incident and said she spoke to 97 00:05:33,320 --> 00:05:36,200 Speaker 1: The New York Times to reclaim her narrative, particularly for 98 00:05:36,279 --> 00:05:40,159 Speaker 1: her children. She says accountability matters, but the scale of 99 00:05:40,160 --> 00:05:43,800 Speaker 1: public shaming did not fit the mistake. And that's it 100 00:05:43,839 --> 00:05:46,640 Speaker 1: for the Afternoon Report for Friday, the nineteenth of December. 101 00:05:46,839 --> 00:05:49,360 Speaker 1: Make sure you're following the podcast I'm Michael Thompson to 102 00:05:49,400 --> 00:05:50,120 Speaker 1: enjoy your evening.