1 00:00:04,240 --> 00:00:06,840 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,880 --> 00:00:09,440 Speaker 1: for Monday, the twenty eighth of October twenty twenty four. 3 00:00:09,480 --> 00:00:12,360 Speaker 1: I'm suan Alma. Every afternoon, We've got the five stories 4 00:00:12,360 --> 00:00:14,280 Speaker 1: that happened today that you need to know about. Strot 5 00:00:14,320 --> 00:00:17,200 Speaker 1: Humer One. There's in PASX two hundred closed up zero 6 00:00:17,239 --> 00:00:20,240 Speaker 1: point one percent today to eight two hundred and twenty 7 00:00:20,280 --> 00:00:23,280 Speaker 1: two points. Not a lot's gone on really the last 8 00:00:23,320 --> 00:00:26,319 Speaker 1: five sessions. The market's up just twelve points today. The 9 00:00:26,440 --> 00:00:29,240 Speaker 1: banks were down, the big miners were up on the 10 00:00:29,280 --> 00:00:33,200 Speaker 1: back of higher iron ore prices after some further stimulus 11 00:00:33,200 --> 00:00:36,159 Speaker 1: out of Beijing. West Farmers had a good day, Resmet 12 00:00:36,280 --> 00:00:40,240 Speaker 1: and zero were other good performers on the flip side. CSL, Goodman, 13 00:00:40,400 --> 00:00:43,840 Speaker 1: Woodside and QB all underperform. But I've got to say 14 00:00:44,520 --> 00:00:47,479 Speaker 1: not a huge amount going on straight. Number two, Federal 15 00:00:47,520 --> 00:00:49,960 Speaker 1: Treasure of Jim Chalmers is set to crack down on 16 00:00:50,040 --> 00:00:54,000 Speaker 1: poke machine manufacturers being given a tax concession for research 17 00:00:54,000 --> 00:00:57,520 Speaker 1: and development. Figures from the Australian Tax Office show millions 18 00:00:57,520 --> 00:01:01,720 Speaker 1: of dollars flowing to the pokemon manufacturers. Now R and 19 00:01:01,800 --> 00:01:05,280 Speaker 1: D is an expense, it's also a tax deduction that's 20 00:01:05,280 --> 00:01:09,120 Speaker 1: for all corporates. Doctor Chalmers, though isn't quite sure whether 21 00:01:09,160 --> 00:01:11,839 Speaker 1: the Pokeys should be getting one. He said it's problematic 22 00:01:12,280 --> 00:01:15,760 Speaker 1: for taxpayers money to fund R and D for poker machines. 23 00:01:16,000 --> 00:01:20,000 Speaker 1: Companies like Aristocrat Leisure and Ainsworth Game Technologies are the 24 00:01:20,040 --> 00:01:22,560 Speaker 1: sources of groups that would be affected. Story number three. 25 00:01:22,640 --> 00:01:27,040 Speaker 1: Fordes Q Energy's boss Mark Hutchison has apologized for how 26 00:01:27,080 --> 00:01:30,360 Speaker 1: he handled being linked to a religious group that promotes 27 00:01:30,440 --> 00:01:37,160 Speaker 1: anti lgbtqia plus values. Being pressured by his boss, Andrew Forrest, 28 00:01:37,440 --> 00:01:40,800 Speaker 1: doctor Forrest told his leadership team that they all needed 29 00:01:40,840 --> 00:01:45,360 Speaker 1: to commit to corporate diversity and support for same sex couples. 30 00:01:45,400 --> 00:01:49,440 Speaker 1: According to a story in the Financial Review Now, mister Hutchison, 31 00:01:49,480 --> 00:01:52,560 Speaker 1: who runs the energy business at Fortescue, is also director 32 00:01:52,600 --> 00:01:57,480 Speaker 1: of Alpha International. It's a Christian organization that believes strictly 33 00:01:58,000 --> 00:02:04,040 Speaker 1: in heteronormative sexual ideology. Mister Hutcheson on Sunday Night apologized, 34 00:02:04,160 --> 00:02:08,920 Speaker 1: declaring his support for sexual equality, same sex relationships and 35 00:02:09,000 --> 00:02:14,119 Speaker 1: the value of the lgbtqia plus community. Story number four. 36 00:02:14,160 --> 00:02:17,480 Speaker 1: The AX Limited held its annual general meeting today and 37 00:02:17,760 --> 00:02:21,840 Speaker 1: recorded a first strike on its remuneration report. A vote 38 00:02:21,880 --> 00:02:24,840 Speaker 1: of twenty five percent or more is required to deliver 39 00:02:24,919 --> 00:02:28,400 Speaker 1: a strike. Twenty six percent of voters in this case, 40 00:02:28,520 --> 00:02:32,720 Speaker 1: we're against your remuneration report. Hence the strike. Plenty going 41 00:02:32,720 --> 00:02:38,000 Speaker 1: on at that company, director accountability, the bungled Chess replacement project, 42 00:02:38,320 --> 00:02:42,520 Speaker 1: and plenty of regal treat scrutiny has upset shareholders. They're 43 00:02:42,560 --> 00:02:44,600 Speaker 1: not happy and they shared it by voting against the 44 00:02:44,720 --> 00:02:48,320 Speaker 1: rem report. CEO Helen Lofthouse was awarded a one point 45 00:02:48,400 --> 00:02:52,280 Speaker 1: seven million dollar short term bonus this year, up seventy percent. 46 00:02:52,600 --> 00:02:55,440 Speaker 1: I think that's what drew the hor of shareholders Outgoing 47 00:02:55,480 --> 00:02:58,480 Speaker 1: chair Damien Raach said the vote shows a clear level 48 00:02:58,520 --> 00:03:03,960 Speaker 1: of dissatisfaction with remuneration among shareholders. IX the share price 49 00:03:04,160 --> 00:03:07,040 Speaker 1: closed lower for the year, it's up about six percent 50 00:03:07,360 --> 00:03:10,720 Speaker 1: and story number five. Paladin Energy share price tumbled fifteen 51 00:03:10,760 --> 00:03:13,840 Speaker 1: percent today after the uranium producer said that it's one 52 00:03:13,880 --> 00:03:16,640 Speaker 1: and a half billion dollar acquisition of Toronto listed fission 53 00:03:17,040 --> 00:03:20,440 Speaker 1: Uranium may not go ahead as the weights approval by 54 00:03:20,480 --> 00:03:23,720 Speaker 1: Canadian regulators. It was the biggest one day drop in 55 00:03:23,800 --> 00:03:26,399 Speaker 1: Paladin's share price in more than a year. The Canadian 56 00:03:26,400 --> 00:03:29,600 Speaker 1: government has launched a National security review of the deal 57 00:03:30,120 --> 00:03:34,200 Speaker 1: that could well scupper any tie up between the two. Otherwise, 58 00:03:34,360 --> 00:03:37,400 Speaker 1: Paladin said production has increased in the Meibia to six 59 00:03:37,520 --> 00:03:40,800 Speaker 1: hundred and forty thousand pounds of uranium yellow cake that 60 00:03:40,840 --> 00:03:43,960 Speaker 1: was during the September quarter. Yellow Cake is actually powdered 61 00:03:44,160 --> 00:03:47,920 Speaker 1: uranium concentrate. It's very volatile stock. This one, Paladin was 62 00:03:48,120 --> 00:03:50,840 Speaker 1: nearly eightien dollars in May, got down to about eight 63 00:03:50,840 --> 00:03:53,920 Speaker 1: dollars fifteen September. Now it's just over ten dollars as 64 00:03:53,960 --> 00:03:56,400 Speaker 1: if the Afternoon report for Monday, the twenty eighth of 65 00:03:56,720 --> 00:03:59,160 Speaker 1: October twenty twenty four. Don't forget tit. Follow on the 66 00:03:59,160 --> 00:04:01,880 Speaker 1: podcast and find Fear and Greed on LinkedIn, Instagram, x 67 00:04:01,920 --> 00:04:05,160 Speaker 1: TikTok and Facebook. Join Michael Thompson and I Tomorrow Morning 68 00:04:05,160 --> 00:04:07,040 Speaker 1: for the Fast Five by Fear and Greed, the top 69 00:04:07,040 --> 00:04:09,560 Speaker 1: five business stories you need to know in five minutes. 70 00:04:09,680 --> 00:04:11,560 Speaker 1: I'm Sean Elmer. Enjoy your reading.