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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 fifteenth July twenty twenty four. I'm Sean Aylmer.

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Speaker 1: Every afternoon, We've got the five stories that happened today

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Speaker 1: that you need to know about. Storingum one. The s

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Speaker 1: and PASX two hundred closed up zero point seven percent

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Speaker 1: today went through that eight thousand point mark, finishing at

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Speaker 1: eighty seventeen point six points, having reached an all time

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Speaker 1: high of eight zero three seven point three points in

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Speaker 1: morning trading today. Interest rate sensitive technology stocks were among

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Speaker 1: the best performers, with Weis Tech, Globalria, and Zero all

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Speaker 1: Higher rising iron ore prices helped push up the big miners,

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Speaker 1: including Badge, Pine, Fortes, qu middles Group, West Farmers, Woodside Energy, Aristocrat, Leisure, QB,

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Speaker 1: and Cochlear also did well. Lifestyle Community shares fell eighteen

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Speaker 1: percent following a news report from the ABC that featured

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Speaker 1: residents accusing the company I'll be moral and unethical conduct.

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Speaker 1: Ozzie Broadband shares slump to fourteen percent after it lowered

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Speaker 1: earnings guidance for the twenty five financial ear The telco

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Speaker 1: also said it would aggressively pursue customers at its larger rivals,

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Speaker 1: including Telsterronoptus, with a new brand, Buddy tell Code's called

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Speaker 1: it will offer significantly cheap of broadband services. According to Oussie,

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Speaker 1: Broadband and Start Entertainment share price drop two percent after

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Speaker 1: Ritz said it will shut off its electronic gaming machines

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Speaker 1: and table games this weekend as it works to rectify

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Speaker 1: a system's problem. Story number two. Prime Minister Anthony Albernizi.

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Speaker 1: He said the attempted assassination of Donald Trump was a

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Speaker 1: shock to the system and said it was a reminder

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Speaker 1: that peaceful democratic processes in Australia can't be taken for granted.

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Speaker 1: Mister Albernizi said it's a great thing that in Australia

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Speaker 1: by and large politicians including the Prime Minister, can wander

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Speaker 1: about events and can walk around safely. That's a good

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Speaker 1: thing and it's important that democracy be cherished, he said.

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Speaker 1: Australia's former ambassador to the US, Arthur Cinnadinis, said the

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Speaker 1: shooting wasn't unexpected, telling AAP that he's surprised has taken

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Speaker 1: this long for something to happen. He said there's been

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Speaker 1: a normalization of very unusual behavior in the US, and

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Speaker 1: I quote him. Given the amount of polarization in the US,

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Speaker 1: the amount of mudslinging that goes on, the attempts by

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Speaker 1: each side to demonize the other, it's not surprising. Story

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Speaker 1: Number three. Real estate agents, lawyers and accountants will be

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Speaker 1: brought under strict new reporting requirements as part of an

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Speaker 1: overhaul of Australia's money laundering and counter terrorism financing legislation.

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Speaker 1: The goal is to clamp down on the flow of

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Speaker 1: proceeds of crime into Australia, according to Attorney General Mark Dreyfuss.

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Speaker 1: Mister Dreffus said that the mooted reforms were required as

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Speaker 1: Australia faces a serious risk of exploitation by criminals seeking

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Speaker 1: to launder ilicit funds now according to report in The Australian.

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Speaker 1: He said globally, trillions of dollars are generated from illegal

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Speaker 1: activities such as drug trafficking, tax evasion, people smuggling, cybercrime

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Speaker 1: and arms trafficking, and some of that is used to

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Speaker 1: fund further serious crimes such as terrorism, child abuse and

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Speaker 1: human trafficking. Mister Dreffus said the regulatory overhaul will capture

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Speaker 1: more entities to prevent abuse in the financial system, while

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Speaker 1: also simplifying the reporting regime faced by businesses captured by

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Speaker 1: the reforms. Story number four, Victorian Premier to CenTra Allen

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Speaker 1: will ask the federal government to exercise its powers under

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Speaker 1: the Fair Work Act to potentially terminate all CFMEU enterprise

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Speaker 1: bargaining agreements on Victorian construction sites. The Premier said she

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Speaker 1: will look at how the tough and anti bikey laws

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Speaker 1: in the state and how to make it more difficult

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Speaker 1: for certain people to associate with each other. She slammed

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Speaker 1: the state branch of the CFMEU for self interested thugree

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Speaker 1: and said the rotten culture must be pulled out by

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Speaker 1: the roots. Her comments came after Prime Minister Anthony Albernizi

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Speaker 1: flagged more actional against the union after the Victorian division

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Speaker 1: was placed into administration. Today, mister Albernezi said all options

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Speaker 1: are on the table to do deal with the renegade union.

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Speaker 1: A nine media investigation found that Underworld figures had infiltrated

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Speaker 1: major Victorian and New South Wales construction projects. The investigation

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Speaker 1: prompted the resignation of union boss John Setka last Friday.

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Speaker 1: And story number five, China's economy grew at its slowest

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Speaker 1: pace in five quarters during the June quarter, as efforts

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Speaker 1: to burst consumer spending fells short, piling pressure on Beijing

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Speaker 1: to lift confidence at twice a decade policy meeting this week.

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Speaker 1: Growth domestic product expanded four point seven percent in the

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Speaker 1: second quarter from the same periody year earlier, coming in

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Speaker 1: well below the median forecast. Retail sales rose at the

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Speaker 1: slowest pace since December twenty twenty two, showing a flurry

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Speaker 1: of government efforts to burst confidence have done little, according

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Speaker 1: to Bloomberg, The National Bureau Statistics said the growth slide

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Speaker 1: down in the second quarter was due to short term

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Speaker 1: factors such as extreme weather and rain, down pors and floods.

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Speaker 1: It also reflected insufficient domestic demand and clogged domestic circulation.

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Speaker 1: Now the figures come as President Jijing Ping fronts the

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Speaker 1: third Plenum meeting that's all about setting major economic and

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Speaker 1: political policies for the coming years. As if the Afternoon

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Speaker 1: report for Monday, the fifteenth of July twenty twenty four,

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Speaker 1: don't forget to follow on the podcast and find Fear

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Speaker 1: and Greed on LinkedIn, Instagram, ex TikTok, and Facebook. Join

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Speaker 1: Julian King and I tomorrow I'm Morning for the Fast

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Speaker 1: Five by Fear and Greed, the top five business stories

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Speaker 1: you need to know in just five minutes. I'm Sean Aylmer.

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Speaker 1: Enjoy your evening,