1 00:00:03,600 --> 00:00:06,440 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,480 --> 00:00:09,440 Speaker 1: for Thursday, the twenty seventh of November. I'm Michael Thompson, 3 00:00:09,480 --> 00:00:12,160 Speaker 1: and every afternoon we have the five stories that happened 4 00:00:12,200 --> 00:00:14,079 Speaker 1: today that you need to know about. Let's go with 5 00:00:14,120 --> 00:00:15,960 Speaker 1: story number one is all about markets. The S and 6 00:00:16,040 --> 00:00:19,000 Speaker 1: p ASX two hundred closed up just a touch today, 7 00:00:19,120 --> 00:00:22,599 Speaker 1: zero point one percent to eighty six hundred and seventeen points, 8 00:00:23,120 --> 00:00:26,000 Speaker 1: after a pretty steady session. The market did have a 9 00:00:26,000 --> 00:00:28,520 Speaker 1: strong lead in from Wall Street investors. There are still 10 00:00:28,560 --> 00:00:31,600 Speaker 1: optimistic of a rate cut from the Fed next month. 11 00:00:32,120 --> 00:00:35,239 Speaker 1: That then helped the tech stocks here Zero was up 12 00:00:35,280 --> 00:00:38,640 Speaker 1: two percent, tracking app Life three sixty almost three percent. 13 00:00:39,040 --> 00:00:42,240 Speaker 1: Wieset Global climbed six percent, though that was also after 14 00:00:42,280 --> 00:00:45,400 Speaker 1: a new Bord appointment. Not all the tech stocks, though, 15 00:00:45,560 --> 00:00:48,440 Speaker 1: had a good one. Drone Shield was the exception the 16 00:00:48,479 --> 00:00:51,400 Speaker 1: worst performer on the ASEX two hundred today after it 17 00:00:51,440 --> 00:00:54,640 Speaker 1: fell more than nine percent. The gold price climbed and 18 00:00:54,680 --> 00:00:56,560 Speaker 1: the gold miners had a good day. It feels like 19 00:00:56,880 --> 00:00:59,840 Speaker 1: I've said that plenty of times now. The energy stocks 20 00:00:59,840 --> 00:01:02,600 Speaker 1: did and do too well. The price of oil dipped 21 00:01:02,640 --> 00:01:05,679 Speaker 1: ahead of an OPEC plus meeting this weekend that hit 22 00:01:05,760 --> 00:01:08,960 Speaker 1: wood side in Santos, where Tinto and Fordescue were also 23 00:01:09,000 --> 00:01:11,759 Speaker 1: among the worst performers of the large caps. A very 24 00:01:11,840 --> 00:01:14,960 Speaker 1: quick mention of the biggest piece of economic news today, 25 00:01:15,240 --> 00:01:18,800 Speaker 1: Business investment, which is a key underpinning of economic growth, 26 00:01:19,000 --> 00:01:23,280 Speaker 1: has recorded its biggest jump in four years, adding more 27 00:01:23,280 --> 00:01:26,120 Speaker 1: evidence that the economy is picking up pace. We will 28 00:01:26,160 --> 00:01:29,560 Speaker 1: have more on this one tomorrow morning. Onto story number two. 29 00:01:29,680 --> 00:01:32,679 Speaker 1: It is the last sitting day for Parliament in Canberra 30 00:01:32,760 --> 00:01:35,920 Speaker 1: for the year and i'd say it's over delivered in 31 00:01:36,040 --> 00:01:39,200 Speaker 1: terms of last day drama. We'll start with former Nationals 32 00:01:39,319 --> 00:01:42,840 Speaker 1: leader Barnaby Joyce, who announced today that he is leaving 33 00:01:42,880 --> 00:01:45,000 Speaker 1: the party. He's been talking about it all week, a 34 00:01:45,040 --> 00:01:47,360 Speaker 1: couple of weeks. Really. He's going to sit on the 35 00:01:47,400 --> 00:01:50,560 Speaker 1: cross bench in the lower House. He hasn't decided on 36 00:01:50,640 --> 00:01:54,760 Speaker 1: his next move, saying he's still weighing up all opportunities, 37 00:01:54,920 --> 00:01:59,760 Speaker 1: including business, although I quote he is strongly considering running 38 00:01:59,800 --> 00:02:02,560 Speaker 1: for the Senate under the One Nation banner. He has 39 00:02:02,640 --> 00:02:05,520 Speaker 1: been with the National Party now for a twenty year 40 00:02:05,560 --> 00:02:08,079 Speaker 1: parliamentary career. It is certainly the end of an era 41 00:02:08,400 --> 00:02:11,600 Speaker 1: at former Prime Minister Malcolm Turnbull was in town for 42 00:02:11,639 --> 00:02:15,280 Speaker 1: the unveiling of his official portrait, had a few choice 43 00:02:15,320 --> 00:02:18,560 Speaker 1: words for current Liberal leader Susan Lee, Suffice to say 44 00:02:18,600 --> 00:02:21,680 Speaker 1: he was not very sympathetic to her plight. Trying to 45 00:02:21,760 --> 00:02:24,959 Speaker 1: hold the coalition and her party together, and Prime Minister 46 00:02:25,000 --> 00:02:27,839 Speaker 1: Anthony Albernezi secured a deal with the Greens to pass 47 00:02:27,880 --> 00:02:31,000 Speaker 1: an overhaul of environmental laws. He said the reforms will 48 00:02:31,040 --> 00:02:34,600 Speaker 1: provide better environmental protections while at the same time speeding 49 00:02:34,680 --> 00:02:38,760 Speaker 1: up approvals for key projects including housing, critical minerals and energy. 50 00:02:39,360 --> 00:02:42,320 Speaker 1: Story number three Staying with the environment, Labour is on 51 00:02:42,440 --> 00:02:46,400 Speaker 1: track to miss its twenty thirty five emissions reduction target, 52 00:02:46,680 --> 00:02:49,720 Speaker 1: a new report showing it is on track to reach 53 00:02:49,760 --> 00:02:53,400 Speaker 1: a forty eight percent reduction rather than its sixty two 54 00:02:53,480 --> 00:02:57,280 Speaker 1: percent goal. Documents released by the Climate Change Department reveal 55 00:02:57,360 --> 00:03:01,200 Speaker 1: significantly more action is required should the target be met. 56 00:03:01,520 --> 00:03:04,520 Speaker 1: In a speech handed down alongside the document, climate Change 57 00:03:04,560 --> 00:03:07,400 Speaker 1: Minister Chris Bowen said the country was broadly on track 58 00:03:07,480 --> 00:03:10,760 Speaker 1: to reach its twenty thirty target, but conceded that the 59 00:03:10,800 --> 00:03:14,960 Speaker 1: twenty thirty five target was ambitious and not yet being achieved. 60 00:03:15,040 --> 00:03:18,119 Speaker 1: Plenty of work still to do there. Story number four 61 00:03:18,240 --> 00:03:20,840 Speaker 1: at least forty four people have been killed in a 62 00:03:20,880 --> 00:03:24,040 Speaker 1: major fire at a residential tower complex in Hong Kong. 63 00:03:24,440 --> 00:03:28,720 Speaker 1: The death toll is expected to climb significantly, with sixty 64 00:03:28,760 --> 00:03:31,560 Speaker 1: two people still in hospital and about two hundred and 65 00:03:31,600 --> 00:03:35,480 Speaker 1: eighty still missing. The fires are continuing to burn at 66 00:03:35,480 --> 00:03:39,000 Speaker 1: the thirty two story complex. Of the eight apartment buildings 67 00:03:39,080 --> 00:03:42,040 Speaker 1: in the complex, the blazer are still uncontained in three 68 00:03:42,560 --> 00:03:46,360 Speaker 1: of the buildings. Almost twenty four hours after the fires began. 69 00:03:46,800 --> 00:03:49,400 Speaker 1: The buildings that caught a light were undergoing renovation, and 70 00:03:49,440 --> 00:03:52,440 Speaker 1: Hong Kong police have arrested three people from an engineering 71 00:03:52,480 --> 00:03:56,640 Speaker 1: firm on suspicion of manslaughter. Although investigators are still determining 72 00:03:56,680 --> 00:03:59,880 Speaker 1: the cause, They are looking at whether bamboo scaffolding and 73 00:04:00,080 --> 00:04:03,000 Speaker 1: green construction mesh that were wrapped around parts of the 74 00:04:03,040 --> 00:04:06,840 Speaker 1: buildings might have helped the flames spread. And finally, story 75 00:04:06,920 --> 00:04:10,640 Speaker 1: number five. Two National Guard soldiers have been shot in Washington, 76 00:04:10,720 --> 00:04:14,520 Speaker 1: DC in what's been described as a targeted ambush and 77 00:04:14,600 --> 00:04:17,880 Speaker 1: an act of terror. The New York Times reports officials 78 00:04:17,960 --> 00:04:20,680 Speaker 1: have identified the shooter as a twenty nine year old 79 00:04:20,720 --> 00:04:23,719 Speaker 1: Afghan national who came to the US in twenty twenty 80 00:04:23,720 --> 00:04:27,040 Speaker 1: one on a special visa program for Afghans who helped 81 00:04:27,040 --> 00:04:29,599 Speaker 1: the US during the war there and were at risk 82 00:04:29,680 --> 00:04:32,800 Speaker 1: of reprisals from the Taliban. The two soldiers were part 83 00:04:32,880 --> 00:04:36,160 Speaker 1: of a high visibility patrol when they were attacked at 84 00:04:36,240 --> 00:04:39,000 Speaker 1: around two pm local time a few blocks from the 85 00:04:39,000 --> 00:04:42,479 Speaker 1: White House. Both remain in a critical condition in hospital. 86 00:04:42,680 --> 00:04:45,560 Speaker 1: The shooter was also wounded in a shootout with other 87 00:04:45,680 --> 00:04:49,200 Speaker 1: National Guard soldiers. President Donald Trump has released a video 88 00:04:49,279 --> 00:04:52,719 Speaker 1: calling the alleged shooter a monster and saying we must 89 00:04:52,760 --> 00:04:56,160 Speaker 1: now re examine every single alien who has entered our 90 00:04:56,200 --> 00:05:00,720 Speaker 1: country from Afghanistan. The US has suspended immigration locations from 91 00:05:00,720 --> 00:05:03,840 Speaker 1: the country. That's it for the Afternoon Report for Thursday, 92 00:05:03,880 --> 00:05:07,240 Speaker 1: the twenty seventh of November. Make sure you're following the podcast, 93 00:05:07,320 --> 00:05:10,000 Speaker 1: and please head along to Fearangreed dot com dot au 94 00:05:10,040 --> 00:05:12,120 Speaker 1: to sign up for our free daily newsletter, or the 95 00:05:12,120 --> 00:05:14,400 Speaker 1: link in the show notes as well. I'm Michael Thompson. 96 00:05:14,680 --> 00:05:15,400 Speaker 1: Have a good evening.