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Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Tuesday,

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Speaker 1: the fifteenth of October twenty twenty four. I'm suan Alma.

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Speaker 1: Every afternoon, We've got the five stories that happened today

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Speaker 1: that you need to know about story and I'm one.

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Speaker 1: The local share market finished up nearly one percent today

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Speaker 1: to a new record close of eighty three hundred and

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Speaker 1: eighteen points. The banks and the miners led the way,

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Speaker 1: but there were plenty of positive stories out there in

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Speaker 1: corporate news. Investment platform Business Hub twenty four jump two

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Speaker 1: and a half percent after announcing record quarterly net inflows

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Speaker 1: of four billion dollars. Total funds under administration in one

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Speaker 1: hundred and thirteen billion dollars, and the company said it's

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Speaker 1: confident that it will meet its target of somewhere up

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Speaker 1: to one hundred and twenty three billion dollars this financial year.

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Speaker 1: Ampole announced a fifty million dollar cost cutting plan to

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Speaker 1: be rolled out next year. It came after the group

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Speaker 1: reported a big drop in quarterly refinery margins as weak

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Speaker 1: demand for some oil products and an outage weighed on

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Speaker 1: the business. It's share price closed down two percent and

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Speaker 1: Tiro Payments share price tumbled thirteen percent after the federal

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Speaker 1: government announced that it intends to crack down on debit cards,

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Speaker 1: surcharges storry A Number two. There are media reports around

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Speaker 1: today about the government wanting to introduce a flat daily

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Speaker 1: fee for all childcare. It would be part of the

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Speaker 1: government's push for universal child care and goes against recent

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Speaker 1: recommendations of the Productivity Commission. The fin Reviews reporting that

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Speaker 1: flat fee options of ten dollars and twenty dollars are

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Speaker 1: being considered as is the mechanism for moving from the

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Speaker 1: current subsidy system to flat fees while maintaining capacity. The

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Speaker 1: option would include removing the requirement for parents to look

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Speaker 1: for work or do some training, and is likely to

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Speaker 1: trigger a huge demand. Story number three. Australians are being

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Speaker 1: told not to travel to Israel and leave as soon

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Speaker 1: as possible as hostilities escalape between the Jewish state and

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Speaker 1: its neighbors. After draining attack by Hesbalah breached Israel's Iron

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Speaker 1: Dame air defense system, killing four soldiers at a military

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Speaker 1: base in northern Israel, the Department of front On Affairs

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Speaker 1: and Trade updated its travel advice for Israel. The advice says,

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Speaker 1: and I quote, we now advise do not travel to

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Speaker 1: Israel and the occupied Palestinian territories due to the volatile

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Speaker 1: security situation, armed conflict, civil unrest and terrorism. If you're

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Speaker 1: in Israel, you should leave while commercial flights remain available,

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Speaker 1: border crossings are open, and while it's safe to do so.

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Speaker 1: Default warns that the situation could deteriorate quickly with little

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Speaker 1: or no notice, and that could mean airspace closures, flight cancelations, diversions,

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Speaker 1: and other travel disruptions straining them before. Telstra held it's

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Speaker 1: annual general meeting for its one million plus shareholders today

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Speaker 1: and new chair Craig Dunn said he'd support a sale

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Speaker 1: of Foxtel and the telco would consider paying shareholders a

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Speaker 1: special dividend if that occurred. Mister Duns the telco understood

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Speaker 1: a News corp was undertaking a strategic review of the business,

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Speaker 1: which could lead to a potential sale that would include

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Speaker 1: Telstra's thirty five percent steak. He said that would be

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Speaker 1: a sensible decision. According to a report in The Australian

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Speaker 1: mist Done said Telstra was continuing to focus on its

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Speaker 1: core business and Foxtel isn't part of that. Asked by

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Speaker 1: a shareholder whether the sale would warrant a special dividend

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Speaker 1: for shareholders. Mister Dunn said the telco would consider it

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Speaker 1: as it had in the past and story number five.

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Speaker 1: Until a week ago, you couldn't bet in the US

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Speaker 1: on the presidential election. A court victory in Washington open

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Speaker 1: the market and the money is flooding in. With Donald

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Speaker 1: Trump narrowly favored over Karmla Harris Financial Exchange CALCI his

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Speaker 1: court victory, Open Up the Market is offering institutional investors

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Speaker 1: the opportunity to put as much as one hundred million

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Speaker 1: US dollars on either Karmla Harris or Trump for a win.

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Speaker 1: In November and the first days since the ban was lifted,

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Speaker 1: more than twelve million dollars has been waged, and the

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Speaker 1: company is in the process of setting up several institutional

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Speaker 1: players on the platform. According to report in the Financial Times,

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Speaker 1: the amounts are expected to continue growing as election day

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Speaker 1: neers and more traders are attracted to the platform. As

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Speaker 1: it for the afternoon report for Tuesday, the fifth teenth

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Speaker 1: of October twenty twenty four, Don't Forget to follow on

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Speaker 1: the podcast and find Fear and Greed on LinkedIn, Instagram,

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Speaker 1: x TikTok and Facebook joined Michael Thomas and I tomorrow

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Speaker 1: morning for the Fast Five by Fear and Greed, the

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Speaker 1: top five business stories you need to know in just

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Speaker 1: five minutes. I'm sure I Elma enjoy your evening.