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Speaker 1: Welcome to the Fear and Greed Business Years Afternoon Report

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Speaker 1: for Monday, the twenty fourth of February twenty twenty five.

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

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Speaker 1: that happen today that you need to know about. Stro

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Speaker 1: At number one the SMPA six two hundred close up

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Speaker 1: just to touch today to eight thousand, three hundred and

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Speaker 1: eight points, having fallen early in the day, then clambered

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Speaker 1: back for the rest of the session. The Tech index

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Speaker 1: tumbled on the back of a Wise Tech Global announcement

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Speaker 1: for independent directors of that company resigned this morning following

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Speaker 1: intractable differences in the board and differing views around the

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Speaker 1: ongoing role of the founder and CEO, or at least

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Speaker 1: former CEO, Richard White. Its share price tumbled at twenty percent. Otherwise,

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Speaker 1: utilities did best today, although the big banks bounced after

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Speaker 1: a tough week last week. Commonwealth Bank, National Australia Bank,

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Speaker 1: and Ains that all jumped more than two percent today.

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Speaker 1: The big mine is underperformed, while the retailers were also higher.

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Speaker 1: Storry number two fast fashion jewelry chain Levisa announced jump

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Speaker 1: in sales and earnings for the December half, but the

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Speaker 1: result was under expectations, what I thought was pretty interesting.

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Speaker 1: The company now operates nine hundred and forty three stores

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Speaker 1: in forty nine markets, and during the last six months

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Speaker 1: opened stores in Cope, Devau, the Old Ivory Coast, the

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Speaker 1: Republic of Congo, and Panama. Its share price closed down

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Speaker 1: four percent today. Gas pipeline giant Ipa also reported it

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Speaker 1: will expand its East Coast gas grid to allow for

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Speaker 1: a twenty four percent increase in the volume of gas

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Speaker 1: piped south from Queensland, amid a worsening squeeze of gas

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Speaker 1: in Victoria that threatens to make the state reliant on

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Speaker 1: LNG imports. APA reported a jump in revenue and underlying

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Speaker 1: profit for the December half. Its share price rose eight percent.

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Speaker 1: Straight number three We're going to stick with earnings. NIB

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Speaker 1: Holdings posted a full and first half profit, but its

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Speaker 1: share price surge twelve percent was a better result than expected.

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Speaker 1: Software group IRS fell fourteen percent, even though it made

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Speaker 1: a profit last year. Plumbing grip Reese, a long time

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Speaker 1: favorite of investment analysts, tumbled thirteen percent after its profit disappointed.

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Speaker 1: It's one of those companies at price to perfection. Any

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Speaker 1: disappointment sends its share price tumbling. That's what happened today,

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Speaker 1: a new extrap to eight percent after the company increased

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Speaker 1: its half year losses. Finally, Domain held onto its forty

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Speaker 1: percent gains from last Friday. Now Channel nine or nine

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Speaker 1: Entertainment reports tomorrow it's a sixty percent shareholder of Domain.

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Speaker 1: Of course it's under takeover offer. Me interesting to see

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Speaker 1: what nine has to say tomorrow. Austraight Number four, Australia's

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Speaker 1: biggest data center company, next DC, has announced larger losses

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Speaker 1: than previously but will reward its executives with big, big

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Speaker 1: options packages. Next DC has seventeen data centers across Australia

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Speaker 1: and New Zealand. Today they announced a one off incentive

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Speaker 1: package trying to keep talent. There's plenty of demand for

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Speaker 1: executives in the digital infrastructure sector Amazon, Google, Microsoft, air Trunk.

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Speaker 1: That's who next DC is competing with. Chief executive Craig

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Speaker 1: Scrogi will receive fifty million dollars in stock if the

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Speaker 1: share price increases one hundred and twenty four percent by

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Speaker 1: twenty thirty gets paid about four million bucks a year.

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Speaker 1: We'll get fifty million in stocks if they can actually

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Speaker 1: reach that increase there's also one hundred million dollars to

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Speaker 1: senior execs and managers if the company hits that target. Overall.

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Speaker 1: Next to DC increased its losses last six months that

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Speaker 1: reflected a write off link to a debt. Its share

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Speaker 1: price closed down three percent, and story number five car

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Speaker 1: makers making a fresh push into hybrids and upgraded petrol

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Speaker 1: engine cars as manufacturers look to shore up profits amid

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Speaker 1: the costly weight for evs to become mainstream general motors.

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Speaker 1: Porsche BMW and Mercedes Bends have pledged over the past

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Speaker 1: few weeks to invest in new or upgraded internal combustion

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Speaker 1: engine or hybrid models, even as they increase the roll

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Speaker 1: out of electric cars to meet tougher emissions regulations in

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Speaker 1: Europe and Elsewherely, new model launches of internal combustion engine

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Speaker 1: and hybrid vehicles are expected to rise nine percent this

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Speaker 1: year compared to twenty twenty four, according to S and

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Speaker 1: P Global Mobility. Carmakers are expected to introduce two hundred

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Speaker 1: and five petrol models this year, which is actually down

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Speaker 1: a touch from last year, while hybrid launchers are predicted

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Speaker 1: to rise forty three percent to one hundred and sixteen models,

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Speaker 1: according to report in the Financial Times as if the

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Speaker 1: afternoon report for Monday, the twenty fourth of February twenty

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Speaker 1: twenty five. Make sure you hit follow on the podcast.

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Speaker 1: We will be back tomorrow morning with the Tuesday edition.

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Speaker 1: The past five business news by Fear and Greed. I'm

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Speaker 1: Sean Elmer. Enjoy your evening