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

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Speaker 1: for Monday, the eleventh of August twenty twenty five are

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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. Let's get

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Speaker 1: going a story number one. The S and PASEX two

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Speaker 1: hundred closed zero point four percent higher today to eight

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Speaker 1: hundred and forty five points, broadly a pretty good day

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Speaker 1: on the burse ahead of an expected interest rate cut

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Speaker 1: tomorrow afternoon. In fact, the ASEX hit a new intra

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Speaker 1: day record this morning, briefly touching eighty eight hundred and

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Speaker 1: fifty two point three points before dropping back a touch.

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Speaker 1: The big miners all did pretty well, BHP, Rio, Tinto,

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Speaker 1: and Fortescue all climbing in line with iron ore prices.

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Speaker 1: The best performers, though, we're all lithium stocks. More on

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Speaker 1: that one. In a moment away from lithium, a bunch

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Speaker 1: of companies reported results, headlined by JB high Fire, the

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Speaker 1: electronics retailer, reporting a five point four percent increase in profits,

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Speaker 1: but the result was somewhat overshadowed by CEO Terry Smart

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Speaker 1: announcing that he's stepping down investors did seemed to like

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Speaker 1: the news. JB's share price closed down more than eight

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Speaker 1: percent today. On to story number two. Now in Australia

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Speaker 1: will recognize a Palestinian state when the United Nations General

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Speaker 1: Assembly meets next month. Prime Minister Anthony Albanezi made the

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Speaker 1: announcement today, saying it would quote contribute to international momentum

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Speaker 1: towards a two state solution, a ceasefire in Gaza and

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Speaker 1: release of the hostages. It comes after Israeli Prime Minister

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Speaker 1: Benjamine Ettnia, who openly criticized suggestions that Australia would make

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Speaker 1: the move, saying, and I quote again, to have European

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Speaker 1: countries and Australia march into that rabbit hole just like

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Speaker 1: that is disappointing and I think it's actually shameful. The

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Speaker 1: push to recognize Palestinian statehood gained pace over the weekend

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Speaker 1: after Israel approved plans to occupy Gaza City. Story number three.

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Speaker 1: I mentioned lithium stocks earlier. They had a belter of

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Speaker 1: a day after a Chinese battery giant suspended production at

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Speaker 1: a major lithium mine in China. COTL is the world's

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Speaker 1: largest manufacturer of EV and it operates a very large

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Speaker 1: mine in China's East Bloomberg reports that a permit for

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Speaker 1: the mine expired on August nine, and it will be

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Speaker 1: shut down for at least three months apparently, and I

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Speaker 1: find this fascinating. There's been speculation about the permit renewal

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Speaker 1: for a little while now, and the Financial Review actually

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Speaker 1: reports that traders flew drones over the mine last week

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Speaker 1: to see what was going on. The News of the

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Speaker 1: closure sent lithium stocks soaring on the ASX and elsewhere.

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Speaker 1: Pilborough Minerals was up almost twenty percent today, Liontown Resources

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Speaker 1: climbed eighteen percent and Mineral Resources closed twelve percent higher

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Speaker 1: onto story number four and hundreds of thousands of EV

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Speaker 1: owners are expected to face a new road charge with

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Speaker 1: treasure Jim Charmers and state government's fast tracking plans. The

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Speaker 1: shift comes as fuel excise revenue, which was once a

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Speaker 1: reliable fifteen point seven billion dollars a year, has shrunk

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Speaker 1: in line with EV uptake. Treasurer Jim Chalmers has made

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Speaker 1: the road user charge a priority in tax reform talks,

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Speaker 1: with Environment Minister Murray Watt telling the ABC but it's

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Speaker 1: no secret that the federal government was working with states

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Speaker 1: to develop a coordinated system. The proposal would potentially see

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Speaker 1: drivers pay per kilometer traveled. And finally, story number five,

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Speaker 1: CSIRO researchers have developed an algorithm to block images from

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Speaker 1: being used in AI generated sexualized deep fakes. The technology

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Speaker 1: subtly alters pixels so AI models can't read them, while

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Speaker 1: leaving images unchanged to the human eye. Researchers say the

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Speaker 1: method offers a mathematical guarantee against AI retraining and could

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Speaker 1: be deployed at scale protecting personal photos, creative works, and

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Speaker 1: sensitive assets to help curb deep fakes, reduce intellectual property theft,

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Speaker 1: and give creators greater control. That's it for the afternoon

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Speaker 1: Report for Monday, the eleventh of August twenty twenty five.

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Speaker 1: Make sure you follow on the podcast and we'll be

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Speaker 1: back tomorrow morning with the Tuesday edition of Fear and Greed.

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Speaker 1: A'm Michael Thompson. Enjoy your evening,