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

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Speaker 1: for Friday, the thirty first of May twenty twenty four.

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Speaker 1: I'm Sean A. Elmer. Every afternoon, we've got the five

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Speaker 1: stories that happened today that you need to know about.

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Speaker 1: Storingum one. The S and PA six two hundred closed

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Speaker 1: up one percent today to seven seven hundred and two points.

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Speaker 1: Healthcare stocks did best, while energy and consumer staples also

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Speaker 1: did well. The real estate sector was the worst performer

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Speaker 1: among the large cap CSL was one of the better performers.

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Speaker 1: QB Coals and Aristocrat Leisure also did well. Goodman Group

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Speaker 1: was one of the worst of the top twenty stocks

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Speaker 1: for the week. The Boss fell just twenty points. That's

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Speaker 1: pretty much flat really. Telix Pharmaceuticals today was the best performer,

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Speaker 1: jumping fourteen percent. In corporate news, Irish Building Products Group

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Speaker 1: CRH secured approval from the Foreign Investment Review Board for

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Speaker 1: its two point one billion dollar buyout proposal for Cement

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Speaker 1: Group adbrime. In February, the ad Briar board back to

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Speaker 1: three dollars twenty per share offer and take over target.

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Speaker 1: Namoy Cotton raded flat at seventy cents as Sir Louis

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Speaker 1: Dreyfuss extended the deadline on its bid. Story number two,

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Speaker 1: What an incredible day in US politics. Former President Donald Trump,

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Speaker 1: and Republican nominee for the November election this year, was

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Speaker 1: found guilty of falsifying business records to cover up an

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Speaker 1: affair with the porn star, meaning he became the first

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Speaker 1: former US president to be criminally convicted. Trump now faces

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Speaker 1: the prospect of jail, probation or other restrictions after a

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Speaker 1: jury of twelve New Yorkers found he was part of

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Speaker 1: a hush money scheme to influence the twenty sixteen election.

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Speaker 1: He was found guilty in all thirty four counts he faced,

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Speaker 1: though he has foreshadowed an appeal. Outside the courtroom, he said,

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Speaker 1: and I quote, this was a rigged, disgraceful trial. The

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Speaker 1: real verdict is going to be November fifth, by the people,

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Speaker 1: referring to the general election date. Following the verdict, funds

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Speaker 1: flooded to mister Trump's campaign from people angry at what

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Speaker 1: had happened. So much said that the main platform being

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Speaker 1: used by the camp pain crashed. Story number three. It's

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Speaker 1: more about Donald Trump. What will happen next? Will he

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Speaker 1: be jailed. Probably not. The falsifying business records crimes are

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Speaker 1: fairly low down the totem pole, and while they carry

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Speaker 1: a maximum prison sentence of four years, this seems very unlikely.

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Speaker 1: Even Manhattan District Attarney Alvin Bragg has shied away from

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Speaker 1: suggesting mister Trump should be locked up. He's more likely

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Speaker 1: to be fined the sentence hearing his schedules. July eleven,

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Speaker 1: Can Trump still run for president? Yes? Is the answer

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Speaker 1: to that one. What if he goes to jail and

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Speaker 1: then beats Joe Biden in the election? Well, theoretically it

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Speaker 1: could happen. Law professors have been quoted arguing the sentence

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Speaker 1: would probably not be served until after he left office,

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Speaker 1: from the White House to the jail house and the

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Speaker 1: big one. Can he pardon himself if he becomes president. No,

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Speaker 1: it's a state case, not a federal one. Straight Number

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Speaker 1: four Mexican fast food chain goosman E Gomez plans to

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Speaker 1: list on the AX next June with a two point

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Speaker 1: two billion dollar valuation. Goodman confirmed it will proceed with

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Speaker 1: a fully underwritten float of eleven point one million shares

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Speaker 1: about twenty two dollars apiece. There will be no general

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Speaker 1: public offer you and I probably can't buy it. The

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Speaker 1: money raised will be used to fund growth, primarily expanding

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Speaker 1: its restaurant network in Australia. In April, Goodsman raised one

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Speaker 1: hundred and thirty five million dollars in private markets, and

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Speaker 1: it said current shareholders are generally keen to subscribe again.

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Speaker 1: Co founder and co CEO Steve Remarks, will control about

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Speaker 1: nine point nine percent. By my reckoning, that's about two

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Speaker 1: hundred and twenty million dollars. Not bad for a fast

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Speaker 1: food chain and story number five. Immigration Minister Andrew Giles

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Speaker 1: is under increasing pressure after the Registrar of the Administrative

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Speaker 1: Appeals Tribunal, Michael Hawkins, said the Minister had the ability

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Speaker 1: to overturn decisions of the tribunal. This is all about

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Speaker 1: non citizen criminals being let back into the community because

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Speaker 1: of tribunal decisions based on the so called Direction ninety nine,

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Speaker 1: which told the Tribunal to focus on an in visuals

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Speaker 1: ties with Australia. Now some offenders have then committed crimes

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Speaker 1: against the community. Prime Minister Anthony Albernizi has directed mister

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Speaker 1: Giles to ensure community safety is now the focus of

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Speaker 1: this rather than ties with the community, but much the

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Speaker 1: damage has already been done to both the government and

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Speaker 1: the Minister. Now mister Hawkins, the Registrar is saying the

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Speaker 1: Minister could have overturned those original rulings. Plenty more on

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Speaker 1: this one next week, I'm sure as it. For the

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Speaker 1: afternoon report for Friday, the thirty first of May twenty

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Speaker 1: twenty four. Don't forget to hit follow on the podcast

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Speaker 1: and fine Fear and Greed on LinkedIn, Instagram, x TikTok

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Speaker 1: and Facebook. Joy Michael Thompson and I tomorrow morning for

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Speaker 1: the weekend past five by Fear and Greed. I'm Sean Elmer.

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Speaker 1: Enjoy your evening,