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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 twenty second of November twenty twenty four.

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Speaker 1: Michael Thompson. Every afternoon, we've got the five stories that

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

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Speaker 1: get cracking with story number one. Commonwealth Bank just keeps

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Speaker 1: giving to investors, closing at a record high today of

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Speaker 1: one hundred and fifty nine dollars and three cents. It

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Speaker 1: is up more than fifty percent over the last year.

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Speaker 1: That is quite incredible. The SMPA is sex two hundred

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Speaker 1: finished the week at a new high as well, of

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Speaker 1: eighty three hundred and ninety four points. It's up a

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Speaker 1: pretty remarkable twenty percent in the last year. Now, it

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Speaker 1: did look like it was going to close above eighty

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Speaker 1: four hundred points for the first time ever, and watching

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Speaker 1: the market as it was creeping towards four o'clock, Suddenly

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Speaker 1: it dipped below. So we didn't quite make it this week.

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Speaker 1: But you never know. Next week could be something different.

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Speaker 1: But the story, though behind it all, is pretty much unchanged.

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Speaker 1: The banks and tech stocks just keeps surging today, strengthening

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Speaker 1: oil prices on concerns about Russia and Ukraine exchanging missiles

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Speaker 1: boosted Woodside, Santos and some of the coal companies. Bullion

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Speaker 1: prices also rallied on the back of rising geopolitical tensions,

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Speaker 1: pushing the gold miners higher. There's plenty of corporate news

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Speaker 1: around today. The A two milk company serves as much

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Speaker 1: as seventeen percent after lifting revenue guidance and announcing it

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Speaker 1: would start paying dividends thanks to stronger than expected sales

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Speaker 1: and higher dairy prices. Globally, Resolute Mining rose after its

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Speaker 1: chief executive and two other employees were released by Mali's government.

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Speaker 1: And software company Megaport was among the worst performers, despite

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Speaker 1: reaffirming its earnings outlook for the financial year. Onto story

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Speaker 1: number two now and wise Tech's billionaire founder, Richard White,

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Speaker 1: front of the company's virtual AGM today saying he deeply

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Speaker 1: regretted the impact recent media attention has had on people

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Speaker 1: around him and on shareholders. His comments came as Wisetech

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Speaker 1: Global downgrade at its annual revenue guidance, sending its share

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Speaker 1: price down close to sixteen percent at one point throughout

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Speaker 1: the day, before it finished down twelve point four percent.

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Speaker 1: The chair of the company partially blamed the downgrade on

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Speaker 1: the diversion of founder Richard White's attention. In the lead

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Speaker 1: up to his exit from the company, he said, I

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Speaker 1: need to say that the board is disappointed that the

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Speaker 1: diversion of Richard White's detention away from product development at

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Speaker 1: a critical juncture has impacted the timing of the release

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Speaker 1: of some of the three breakthrough products. It's the end

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Speaker 1: of the quote. Mister White resigned from Wistech's executive and

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Speaker 1: board in late October following a string of allegations about

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Speaker 1: his personal life. We've gone and to those in some

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Speaker 1: detail throughout the course of fear and greed. He has

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Speaker 1: moved into a consulting role reporting to the board with

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Speaker 1: the title of founder and founding CEO. He will maintain

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Speaker 1: his one million dollar a year salary. Story number three.

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Speaker 1: Federal Treasurer Jim Chalmers says he is not concerned about

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Speaker 1: Elon Musk's criticism of the Albanese government's planned social media

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Speaker 1: ban for children under sixteen. His comments came after mister Musk,

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Speaker 1: who of course owned social media site x and says

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Speaker 1: he is a free speech libertarian, accused the government of

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Speaker 1: surreptitiously trying to dominate the online lives of its citizens.

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Speaker 1: He tweeted or xt I suppose seems like a backdoor

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Speaker 1: way to control access to the Internet by all Australians.

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Speaker 1: He was responding to Prime Minister Anthony Alberanzi's post heraldingly

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Speaker 1: proposed changes to laws that will ban social media for

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Speaker 1: under sixteen year olds that Chalmers said mister Musk's comments

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Speaker 1: were quote entirely unsurprising, saying the government's job wasn't to

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Speaker 1: please Elon Musk, but to place necessary protections for kids online.

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Speaker 1: Onto story number four now and Foreign Minister Penny Wong

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Speaker 1: has backed the International Criminal Court's decision to issue an

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Speaker 1: arrest warrant for Israeli Prime Minister Benjaminetta Who as an

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Speaker 1: alleged war criminal. The warrant obliges the government to arrest

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Speaker 1: netnya Who should he set foot in Australia. The ICC

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Speaker 1: overnight issued warrants for Netanya Who and Israel's former Defense minister,

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Speaker 1: accusing them of war crimes and crimes against humanity over

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Speaker 1: Israel's conduct in the war against terror group Hamas in Gaza,

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Speaker 1: which has resulted in thousands of civilian casualties, including starving

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Speaker 1: the civilian population. According to the AFR, the court also

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Speaker 1: issued a warrant for a senior Hamas official, one of

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Speaker 1: the masterminds of last year's October seven terror attack that

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Speaker 1: killed one thy two hundred people in southern Israel, saying

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Speaker 1: there were reasonable grounds to believe that he was responsible

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Speaker 1: for murder, torture, kidnappings, and rape and sexual violence. Israeli

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Speaker 1: officials believe they killed the commander of Hamasa's military wing

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Speaker 1: in a July airstrike, but Hamas has denied that he's dead,

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Speaker 1: although they have not actually produced any evidence that he

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Speaker 1: is in fact still alive. And finally, story number five,

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Speaker 1: US President elect Donald Trump has nominated Pam Bondie, not Bondie.

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Speaker 1: It's written like Bondi. It's going to take some getting

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Speaker 1: used to saying Bondie instead for Attorney General, just hours

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Speaker 1: after Matt Gates, his initial pick, withdrew from consideration. For

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Speaker 1: the role, the new attorney general will need to be

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Speaker 1: confirmed by a majority of US senators. Bondi is a

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Speaker 1: two term state attorney general from Florida. As she's seen

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Speaker 1: it as a less controversial pick than Gates, who had

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Speaker 1: limited legal experience and was previously under investigation by the

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Speaker 1: Department of Justice, which he would have run for allegedly

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Speaker 1: having a sexual relationship with an underage girl, while no

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Speaker 1: charges were ever brought. He was also the subject of

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Speaker 1: a long running congressional investigation into alleged sexual misconduct and

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Speaker 1: drug use. The investigation was shelved when Gates resigned his

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Speaker 1: congressional seat last week. According to The Financial Times, Gates

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Speaker 1: has denied all allegations of wrongdoing. Bondi is a longtime

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Speaker 1: Trump ally who was part of his legal defense team

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Speaker 1: in his first impeachment trial and defended the president's elect's

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Speaker 1: efforts to question the result of the twenty twenty election.

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Speaker 1: That's it for the afternoon report for Friday, the twenty

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Speaker 1: second of November twenty twenty four. Will be back tomorrow

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Speaker 1: morning with the weekend edition of Fear and Greed by

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Speaker 1: Michael Thompson. Enjoy your read