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

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Speaker 1: Report for Tuesday, the nineteenth of November twenty twenty four.

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Speaker 1: I'm Sean Aylmer. Every afternoon, we've got the five stories

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

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Speaker 1: Number one. The SMPASX two hundred closed up nearly one

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Speaker 1: percent today to eight thousand, three hundred and seventy four points,

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Speaker 1: having earlier in the day hit an all time high

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Speaker 1: of eight four hundred and forty six points. The tech

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Speaker 1: stocks led the way, following a strong leading from Wall Street.

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Speaker 1: The Tech index ended up more than three percent. The

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Speaker 1: big banks also did well, with the Commonwealth Bank up

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Speaker 1: nearly two percent. In corporate news, Technology One surged more

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Speaker 1: than ten percent after the enterprise software company said net

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Speaker 1: profit the year ending thirty September was up fifteen percent. Newmont,

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Speaker 1: which bought local gold producer New Crest, surged after a

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Speaker 1: degree to sell a mine in Canada. Km D Brands

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Speaker 1: that's the one that owns CapMan, Do and Rip Call

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Speaker 1: It said it's cautious on consumer sentiment amid lenging conditions.

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Speaker 1: It was down two percent and among the large caps

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Speaker 1: of Jump and oil prices pushed Woodside and Santos higher.

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Speaker 1: The high oral price came on the back of geopolitical

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Speaker 1: tensions story number two. The AFI has released its list

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Speaker 1: of the top one hundred accounting firms in the country,

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Speaker 1: and while the big four have struggled, the next level

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Speaker 1: of firms are benefiting turmoil for the sector over the

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Speaker 1: past twelve months, especially PwC, where a senior tax partner

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Speaker 1: had leaked government information that helped clients avoid tax hit

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Speaker 1: that firm its revenue fell twenty five percent. It's fallen

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Speaker 1: from number one spot to number three. Top spot went

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Speaker 1: to Deloitte, then e Y, PwC and KPMG. The next

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Speaker 1: five top accountants in terms of revenue. They might not

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Speaker 1: be household names, but they're doing very well. Bdo Fine, Dex,

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Speaker 1: RSM Australia, Grand Thornton and Picture Partners storing number three

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Speaker 1: oil giants. Santos will boost returns to shareholders once its

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Speaker 1: major projects in Alaska and the tm or C come

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Speaker 1: on line in twenty twenty six. Sixty percent of free

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Speaker 1: cash flow should go to shareholders in terms of dividends

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Speaker 1: or share buybacks, compared to forty percent. Now that a

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Speaker 1: pressure from institutional investors on the oil and gas company.

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Speaker 1: They're not happy with returns. There's been ongoing speculation about

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Speaker 1: corporate maneuvering. Last year it explored a merger with Woodside,

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Speaker 1: which didn't get off the ground. There's also been speculation

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Speaker 1: of other global players buying Santos. Now it's got two

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Speaker 1: big projects, the Barosso gas project then Team will See

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Speaker 1: that's due to come online in the September quarter next year,

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Speaker 1: than the packol Earl project in Alaska that's supposed to

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Speaker 1: come online in the first half of twenty twenty six. Hence,

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Speaker 1: the company has now come out and said it's going

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Speaker 1: to pay out sixty percent of free cash flow to

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Speaker 1: try and keep shareholders happy. Its share price was up today,

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Speaker 1: but a couple of weeks ago, it was at its

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Speaker 1: lowest point since early twenty twenty two straightum before Hong

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Speaker 1: Kong's High Court today sentenced forty five pro democracy activists,

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Speaker 1: including Australian Gordon Ung, to jail terms of up to

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Speaker 1: ten years in a landmark national security trial. The decision

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Speaker 1: further damages the city's one strong democracy movement and has

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Speaker 1: drawn international condemnation. According to Bloomberg, a total of forty

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Speaker 1: seven pro democracy activists were arrested and charged in twenty

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Speaker 1: twenty one with conspiracy to commit subversion under a Beijing

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Speaker 1: imposed national security law. They'd faced sentences of up to

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Speaker 1: life in prison. The sentences in the end ranged from

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Speaker 1: four years to ten years. Mister Ung was jailed for

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Speaker 1: seven years and three months. The so called organizer of

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Speaker 1: the forty seven pro democracy activists received ten years. The

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Speaker 1: charges relate to the organizing of an unofficial primary election

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Speaker 1: in twenty twenty to select the best candidates for an

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Speaker 1: upcoming legislative election. The activists were accused by prosecutors of

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Speaker 1: plotting to paralyze the government by engaging in potentially desruptive

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Speaker 1: acts had they been elected. Finally, story number five g

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Speaker 1: twenty nations have called for taxation on the super rich,

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Speaker 1: measures to alleviate property and a ceasefire in Gaza. After

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Speaker 1: two days of meeting in Rio di Janeiro, the group

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Speaker 1: came out with a somewhat watered down statement. Now the

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Speaker 1: host Brazil has been pushing a two percent tax on

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Speaker 1: the world's billionaires to generate more than three hundred billion

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Speaker 1: dollars to help alleviate property and climate change. Argentina quickly

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Speaker 1: withdrew support on that one that denied a consensus on it,

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Speaker 1: but the statement did call for climate finance to increase

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Speaker 1: from billions of dollars to trillions of dollars. That's it

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Speaker 1: for the Afternoon Report for Tuesday, the nineteenth of November

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Speaker 1: twenty twenty four. Don't forget to hit follow on the

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Speaker 1: podcast and find Fear and Greed on LinkedIn, Instagram, x

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Speaker 1: TikTok and Facebook. Joined Michael Thompson and I Tomorrow, I'm

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Speaker 1: morning for the Fast five by Fear and Greed. Top

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Speaker 1: five business stories you need to know in just five minutes.

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Speaker 1: I'm Chane Elma. Enjoy your read