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

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Speaker 1: for Monday, the twenty fifth of August twenty twenty five.

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Speaker 1: I'm Michael Thompson. Every afternoon, I've got the five stories

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Speaker 1: that happened today that you need to know about. Let's

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Speaker 1: go a story number one at the S and p

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Speaker 1: ASX two hundred set yet another intra day high today

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Speaker 1: before it all really fizzled out, closing pretty much flat,

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Speaker 1: just zero point one percent higher at eighty nine hundred

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Speaker 1: and seventy two points. All four of the big banks

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Speaker 1: dropped today. NAB and Westpac were both off one point

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Speaker 1: eight percent. Comwealth Bank was down one and a half percent,

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Speaker 1: A and Z down one point four percent. Instead, investors

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Speaker 1: were flocking to the big miners, Rio, Tinto, BHP, forts Q,

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Speaker 1: all climbing around two and a half percent off the

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Speaker 1: back of rising iron ore prices. There are some big

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Speaker 1: moves today as more companies reported results. We had a

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Speaker 1: Ouzsie Broadband a standout of more than twenty percent on

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Speaker 1: a strong outlook. Ansel climbed ten point three percent with

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Speaker 1: margins beating expectations. At the other end, plumbing company Rees

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Speaker 1: dropped more than sixteen percent after a sharp fall in

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Speaker 1: profit in Devor Group, the owner of Dan Murphy's and BWS,

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Speaker 1: also posted a steep decline in full ye profit and

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Speaker 1: its share price was down one point four percent for

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Speaker 1: the day. Story number two is about the best performer

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Speaker 1: on the BOSS today. Southern Cross Media, the company which

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Speaker 1: owns radio assets including the Hit and Triple Am networks,

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Speaker 1: sawed twenty six point five percent today after reporting a

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Speaker 1: strong full year turnaround. The last year has seen Sea

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Speaker 1: sell off its TV assets to focus on audio, including

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Speaker 1: the digital platform Listener, which saw strong digital revenue growth.

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Speaker 1: It follows a report in the Australian newspaper Today that

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Speaker 1: suggested Nine Entertainment is considering a surprise play for the

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Speaker 1: radio company as it hunts for acquisitions after the sale

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Speaker 1: of real estate platform Domain. Of course, nine already owns

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Speaker 1: talk stations talk radio stations including two GB in Sydney

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Speaker 1: and three AW in Melbourne, which it would need to

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Speaker 1: sell in order to by Southern Cross. It is always

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Speaker 1: fascinating the speculation within the media industry. Under story number three,

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Speaker 1: Now in Australia has cut its greenhouse emissions by one

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Speaker 1: point four percent in the year to March putting the

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Speaker 1: country on track to meet its twenty thirty Paris Agreement target.

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Speaker 1: The government's quarterly update shows national emissions are now twenty

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Speaker 1: eight percent below two thousand and five levels, edging closer

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Speaker 1: to the forty three percent cut pledged by the end

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Speaker 1: of the decade. Total emissions fell to four hundred and

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Speaker 1: forty z point two million tons, thanks largely to more

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Speaker 1: renewable power, industrial decarbonization under the Safeguard mechanism and less

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Speaker 1: household gas use. It does come, however, as the federal

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Speaker 1: coalition is split over the twenty to fifty net zero target,

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Speaker 1: but Nationals MP Barnaby joy saying it will lead to

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Speaker 1: the demolition of Australia's industrial base and drive up costs

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Speaker 1: for business. Story number four. Quantus is facing fresh pressure

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Speaker 1: from some of its biggest invests as the board prepares

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Speaker 1: to decide on executive bonuses this week. Super funds are

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Speaker 1: urging the airline to factor in the federal courts damning

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Speaker 1: ninety million dollar penalty for illegally sacking eighteen hundred workers

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Speaker 1: during the pandemic. Justice Michael Lee slammed Quantus for quote

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Speaker 1: performative remorse and aggressive litigation against former staff using the

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Speaker 1: terrific line quantus was the wrong kind of sorry. The

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Speaker 1: Australian Council of Superannuation Investors says shareholders want to see

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Speaker 1: if the board holds management accountable. Big superfund Tester and

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Speaker 1: Aware say brand trust still fragile, and how bonuses are

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Speaker 1: handled will be a key test. And finally, story number five,

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Speaker 1: SpaceX has delayed the latest test flight of its giant

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Speaker 1: Starship rocket, canceling the launch just half an hour before

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Speaker 1: liftoff from its base in South Texas. The tenth major

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Speaker 1: mission for Starship was due to fly Sunday evening local time,

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Speaker 1: so earlier today, but SpaceX said that it needed to

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Speaker 1: try rublell shoot a problem with its ground systems. There's

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Speaker 1: no word yet on when a new attempt is going

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Speaker 1: to be made. Earlier Starship flights this year have ended

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Speaker 1: in explosions or malfunctions. There's been rockets blowing up mid

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Speaker 1: air right through to a failed satellite deployment. There's even

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Speaker 1: an explosion on a test stand. SpaceX has reassigned about

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Speaker 1: twenty percent of its Falcon rocket engineers to the Starship

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Speaker 1: program in order to try and get this thing back

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Speaker 1: on track. That's it for the afternoon report for Monday,

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Speaker 1: the twenty fifth of August twenty twenty five. Make sure

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Speaker 1: you hit follow on the podcast and we'll be back

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Speaker 1: tomorrow morning with the Tuesday edition of Fear and Greed.

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Speaker 1: I'm Michael Thompson. Enjoy your evening.