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

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Speaker 1: for Thursday, the fifth of December twenty twenty four. I'm

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Speaker 1: Sean Elmer. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Strohum one,

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Speaker 1: there's and PA six two hundred closed up just touch

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Speaker 1: today zero point one percent to eight four seven five points.

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Speaker 1: The tech stocks and consumer discretionary companies did best. The

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Speaker 1: real estate investment trusts were among the worst on the day.

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Speaker 1: Promedicus was up again. Weis Tech Global, Transurban Colds they

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Speaker 1: all had good days, so too Northern Star and South

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Speaker 1: thirty two. The big Minu worst was goodmin Group, Santos

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Speaker 1: and Woodside, BHP and James Hardy. The other big news

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Speaker 1: in markets today Bitcoin pushed through one hundred thousand US

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Speaker 1: dollars a unit that's on the back of Donald Trump

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Speaker 1: appointing a crypto fan to be the regulate them. The

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Speaker 1: Aussie dollar end of the day down at sixty four

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Speaker 1: point three US cents. Story number two. Rare Hinto is

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Speaker 1: under pressure to unify its dual listing structure, offering shares

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Speaker 1: only in Australia, although Boss Jakubstouse Home is against the idea.

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Speaker 1: At the moment, you can buy Rio shares on the

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Speaker 1: British end Australian markets. BHP used to be the same,

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Speaker 1: though it dropped its dual listing structure and went all

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Speaker 1: in on the ASX back in early twenty twenty two.

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Speaker 1: That boosted its market cap, making it then the biggest

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Speaker 1: company on the moors. Some shareholders think Rio should do

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Speaker 1: the same now. About seventy five seventy seven percent of

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Speaker 1: shares in Rail are traded in the UK, about twenty

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Speaker 1: three percent of thereabouts in Australia. Rio argues that the

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Speaker 1: dualisting reflects what the miner is, part British, part Australian.

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Speaker 1: The Australian shares actually traded a slight premium because you

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Speaker 1: get tax benefits if you buy Rio shares and live

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Speaker 1: in this country. Mister Stout's Home Today hinted at issuing

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Speaker 1: more Aussie shares to fix the imbalance. That's actually the

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Speaker 1: opposite of dropping the duel listing. The comments came out

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Speaker 1: and invested briefing Rio's forecast a big jump in copper

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Speaker 1: output over the next twelve months or so to offset

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Speaker 1: reliance on iron or share price initially fell before recovering

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Speaker 1: to closed flat straight up A three treasure. Jim Chalmers

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Speaker 1: has left open the prospect of labor expanding the definition

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Speaker 1: of a small business from fifteen to twenty five employees,

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Speaker 1: a change that would exempt more companies from onerous workplace

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Speaker 1: relations laws but would definitely angle the union movement. Dr

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Speaker 1: Chalmers was responding to a joint push by Teal MPs

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Speaker 1: to broaden the definition, and move backed by the Australian

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Speaker 1: Chamber of Commerce and Industry, Australian Industry Group and the

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Speaker 1: Council of Small Business Organizations Australia. According to the AFR,

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Speaker 1: in a joint letter to Workplace Relations Minister Murray What

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Speaker 1: last month, the eight Lower House tel MPs argued that

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Speaker 1: businesses with fewer than twenty five employees, which could include casuals,

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Speaker 1: should not be subject to the same workplace rules as

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Speaker 1: major corporations. It would exempt about forty six thousand, five

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Speaker 1: hundred businesses, or about five percent of all employers from

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Speaker 1: Fair Work Act rules such as unfair dismissile provisions and

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Speaker 1: having to pay union delegates to take time off for training.

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Speaker 1: Would also delayed right to disconnect rules coming into force.

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Speaker 1: Move those businesses from multi employer bargaining and reduce red

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Speaker 1: tape requirements straight numberfore, US National Security Advisor Jake Sullivan

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Speaker 1: has championed UCUS as one of the most ambitious defense

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Speaker 1: projects in modern history and the lynchpin of US efforts

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Speaker 1: to build an integrated defense industrial base for the free world.

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Speaker 1: Mister Sullivan promoted ORCAS as one of the outstanding achievements

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Speaker 1: of the Biden administration and a key piece of America's

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Speaker 1: global strategy to deter future conflicts in an area of

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Speaker 1: growing strategic uncertainty. According to report in The Australian and

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Speaker 1: a message to Donald Trump, mister Sullivan said it was

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Speaker 1: imperative to strengthen the US defense industrial base to ter

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Speaker 1: threats in Europe, the Middle East, and the Indo Pacific,

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Speaker 1: arising from greater cooperation between China, Russia and North Korea

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Speaker 1: and Iran. This would require not just more investment, but

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Speaker 1: smarter investment, production, innovation, and integration with allies. He urged

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Speaker 1: the incoming administration to accelerate production of critical munitions, vital

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Speaker 1: air defense capabilities, and autonomous systems, while pursuing major acquisition

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Speaker 1: reform at the Department of Defense and Final Australi Number five.

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Speaker 1: The French government has collapsed after Prime Minister Michael Barnier

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Speaker 1: was removed after a no confidence vote. He was only

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Speaker 1: appointed by President Emmanuel mccron three months ago. Mister Barnier

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Speaker 1: has been under fire since he used special powers to

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Speaker 1: force through a budget without a vote. Now the budget

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Speaker 1: included big tax increases in spending cuts. The far right

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Speaker 1: teamed up with the leftist block in parliament to vote

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Speaker 1: the Prime minister out. That's the first time it's happened

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Speaker 1: in more than sixty years. Mister mccron now needs to

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Speaker 1: find another PM. The French Parliament is divided into three blocks,

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Speaker 1: none of which have a majority. And a quick update

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Speaker 1: of the crisis in South Korea. President Yune has sacked

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Speaker 1: his Defense minister, who yesterday he blamed for suggesting martial

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Speaker 1: law in the country, even though he was the one

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Speaker 1: that declared it plenty to play out on that one.

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Speaker 1: That's it for the Afternoon Report for Thursday, fifth of

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Speaker 1: December twenty twenty four. Make sure you follow on the podcast.

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Speaker 1: We'll be back tomorrow morning with your Friday edition of

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Speaker 1: the Fast five Business. Yes by Fear and Greed. I'm

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Speaker 1: Schane Elma enjoy your evening,