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

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Speaker 1: for Tuesday, the twenty fifth of November. I'm Michael Thompson,

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Speaker 1: and every afternoon we have the five big stories you

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Speaker 1: need to know about. Let's go a story number one.

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Speaker 1: The S and PA s X two hundred closed up

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Speaker 1: ever so slightly today, up zero point one percent to

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Speaker 1: eighty five hundred and thirty seven points. Not much, but

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Speaker 1: I suppose the win's a win. There were expectations of

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Speaker 1: a better day after a big jump on Wall Street overnight,

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Speaker 1: and the market did start stronger. It just ran out

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Speaker 1: a puff late morning, then recovered a little bit this

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Speaker 1: afternoon and result up zero point one percent for the day.

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Speaker 1: The gold price is climbing though on expectations at the

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Speaker 1: Federal Reserve will cut interest rates in the US next month.

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Speaker 1: The precious metal is trading near four thousand, one hundred

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Speaker 1: and thirty US dollars an ounce. Our gold miners benefited

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Speaker 1: from that. Today Newmont was up four point three percent,

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Speaker 1: Evolution three point five percent, Northern Star two percent. A

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Speaker 1: good day for the big miners, good day for the

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Speaker 1: tech stocks. Two tracking app Life three sixty had a

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Speaker 1: cracker up six point six percent today. Not so good

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Speaker 1: though for the banks. Commonwealth Bank was off one point

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Speaker 1: two percent and Bendigo and Adelaide Bank was the worst

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Speaker 1: on the burs, down seven point four percent today after

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Speaker 1: finding had I quote weaknesses and deficiencies across many key

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Speaker 1: aspects of the bank's anti money laundering and terrorist financing

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Speaker 1: risk management program. We'll have a fair bit more on

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Speaker 1: that one and tomorrow morning's episode. Meanwhile, investors are somewhat

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Speaker 1: anxiously awaiting tomorrow's monthly inflation data. This is the first

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Speaker 1: time that we'll get a comprehensive monthly number, so it'll

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Speaker 1: be a better assessment of the price pressures that are

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Speaker 1: currently within the economy. We'll have all the details on

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Speaker 1: that one in tomorrow's afternoon report under story number two.

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Speaker 1: Now a lot of corporate news around today. Shares in

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Speaker 1: web Travel jumped nine percent after the booking platform connecting

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Speaker 1: hotels with travel agents and tour operators achieved record revenue

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Speaker 1: and earnings for the September half. The company's interim result

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Speaker 1: was driven by its webbeds booking service, expanding its market share.

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Speaker 1: Drone Shield, we've talked a lot about drone Shield lately.

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Speaker 1: Its share price jumped fourteen point six percent a day

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Speaker 1: after it said it had won a five point two

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Speaker 1: million dollar contract with a European customer. The deal is

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Speaker 1: for handheld counter drone systems and related accessories. Some good

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Speaker 1: news for the company, which is under pressure over the

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Speaker 1: sale of seventy million dollars worth of shares by the CEO,

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Speaker 1: chair and another director earlier this month. A lot of

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Speaker 1: talk about that one, as I said, and shares in

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Speaker 1: healthcare giant Ramsey jumped thirteen percent today after it provided

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Speaker 1: a market beating quarterly earnings update. Ramsey Healthcare's Australian business

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Speaker 1: is exceeding consensus revenue and earnings growth expectations, So a

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Speaker 1: good day there for Ramsey investors. Story number three. How

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Speaker 1: about this one? Australia's biggest super funds have invested almost

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Speaker 1: one hundred and ten million dollars in an Indian company

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Speaker 1: that has brought fuel allegedly made from sanctioned Russian oil

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Speaker 1: into the country. India's Reliance Industries has bought more than

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Speaker 1: thirty three billion US dollars in discounted Russian crude oil

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Speaker 1: since the Ukraine invasion and sold the fuel back into

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Speaker 1: global markets, including Australia. Australian Retirement Trust owns more than

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Speaker 1: fifty five million dollars worth of shares in the company

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Speaker 1: Australian Super about twenty five million. Both Aware Super and

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Speaker 1: Unisuper hold sizable stakes to Ukrainian community. Leaders say the

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Speaker 1: investments breach ESG standards and indirectly help fund Russia's war effort. Reliance,

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Speaker 1: for its part, says it'll stop buying Russian crude oil

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Speaker 1: ahead of new US and EU sanctions that are set

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Speaker 1: to start in January of next year. Story number four.

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Speaker 1: The latest radio ratings have delivered a bit of a

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Speaker 1: mixed bag of results for the ABC, with the ABC

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Speaker 1: Radio Sydney slumping to its weakest result of the year,

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Speaker 1: while Melbourne's Breakfast team posts their best result to date.

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Speaker 1: Adelaide went up, Brisbane and Perth went backwards, So good

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Speaker 1: luck making sense of that for ABC management. A few

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Speaker 1: interesting stories from the commercial radio side of things here too.

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Speaker 1: Kiss FM duo Kyle and Jackie Oh, fresh from their

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Speaker 1: latest whack from the Media regulator for explicit content, declined

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Speaker 1: in Sydney and dropped to an audience share of just

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Speaker 1: five point five percent in Melbourne, their worst in months.

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Speaker 1: That has been a long running experiment now to see

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Speaker 1: how that duo is going to go expanding into Melbourne.

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Speaker 1: Another very solid result for the two Marquee talkback stations

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Speaker 1: owned by nine Radio two GB was number one in Sydney,

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Speaker 1: headed up by breakfast host Ben Fordham, and three AW

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Speaker 1: in Melbourne, which continued its dominance of the market. Christian O'Connell,

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Speaker 1: the breakfast host on Melbourne's Gold When O four point

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Speaker 1: three saw an increase. That's significant considering he's about to

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Speaker 1: be networked well essentially nationally next year. But the station

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Speaker 1: with the highest cumulative audience anywhere in the country, that

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Speaker 1: would be they Smooth their FM in Sydney, whose studio

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Speaker 1: I'm in right now, with a cumulative audience of one

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Speaker 1: point three five one million people. This is the second

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Speaker 1: last radio ratings for the year. One more to go

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Speaker 1: before we enter the summer break. And finally, story number five.

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Speaker 1: Ukrainian President Vladimir Zelenski has welcomed revisions to a controversial

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Speaker 1: US drafted peace plan, saying key changes make the framework

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Speaker 1: doable and far more balanced. The updated proposal has reportedly

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Speaker 1: been trimmed from twenty eight points to nineteen and removes

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Speaker 1: elements that favored Moscow, including territorial concessions and limits on

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Speaker 1: the size of the Ukraine's army. European allies will now

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Speaker 1: meet virtually to coordinate their response, while the Kremlin has

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Speaker 1: dismissed the revised plan as unconstructive. Meanwhile, the topic of

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Speaker 1: Ukraine has come up in a phone call between US

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Speaker 1: President Donald Trump and Chinese President Jijinping, a call that

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Speaker 1: was actually initiated by the Chinese leader. Following the call,

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Speaker 1: Donald Trump wrote on truth Social that he has accepted

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Speaker 1: an invitation to visit Beijing in April, and we'll host

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Speaker 1: President g Free State visit to Washington later next year.

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Speaker 1: And that's it for the Afternoon Report for Tuesday, the

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Speaker 1: twenty fifth of November. Make sure you're following the podcast

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Speaker 1: and head along to Fear and Greed dot com dot

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Speaker 1: a you to sign up for our free daily newsletter.

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Speaker 1: I'll put a link in today's show notes as well.

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Speaker 1: I'm Michael Thompson. I have a great e