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Speaker 1: Welcome to the Fearing Green Business News Afternoon Report for Wednesday,

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Speaker 1: the twenty first of August twenty twenty four. I'm Sean Almer.

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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 it. Sorry, Number one.

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Speaker 1: The S and PISX two hundred closed up zero point

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Speaker 1: two percent to eighty eleven points today, continuing the almost

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Speaker 1: two week streak of positive closes. The Tech index did

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Speaker 1: well while the MG index was weakest, but again it

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Speaker 1: was all about profit results. Shares of the mining companies

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Speaker 1: bounced on rising iron ore prices after China rolled up

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Speaker 1: further measures to help its struggling property market. BHP, Rio, Tinto,

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Speaker 1: and ford Eskew were all higher, but really bunch of

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Speaker 1: profits run through some of them. The lot recorporation operator

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Speaker 1: with the Lotto, Powerball and Keno Games, reported a more

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Speaker 1: than twenty percent surge net profit an annual revenue of

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Speaker 1: four billion dollars as more Australian signed up as customers. Helius,

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Speaker 1: the struggling pathology company to the sale of its imaging business,

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Speaker 1: was well advanced. It reported a full year loss of

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Speaker 1: six hundred and forty six million dollars that was expected.

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Speaker 1: Pilotmaker Brambles was among the biggest gainers today after it

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Speaker 1: topped its earnings guidance, with its share price hitting a

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Speaker 1: new high. Property fund manager Charter Hall for more than

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Speaker 1: fifteen percent after promising a six percent lift in distributions

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Speaker 1: over the coming year. Broadband provider super Loop jumped after

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Speaker 1: forecasting stronger earned his growth this financial year. On the

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Speaker 1: other side, among the hardest hit was insurance broken Network.

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Speaker 1: Aub Group, despite forecasting high growth. In corporate travel, fell

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Speaker 1: after issuing a profit warning due to changes to the

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Speaker 1: UK's refugee to tension program. Actually, there are a couple

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Speaker 1: of others, clean Away Waste Management Roads after it beat

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Speaker 1: its profit expectations, and Babcorn, the ASX listed group that

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Speaker 1: owns automotive past brands Auto Barn, Autopro and Burson, half

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Speaker 1: its final dividend after reporting a loss for the last

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Speaker 1: financial year. Joy number two, a jump in coffee machine

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Speaker 1: sales in the United States has helped Bevel's revenue surge

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Speaker 1: to one and a half billion dollars last financial year,

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Speaker 1: sending its share price up five percent today. Rerebell has

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Speaker 1: more than doubled sales over the past five years and

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Speaker 1: net profit last financial year was up eight percent. In

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Speaker 1: the first half, sales stalled after Brebel stopped discounting to

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Speaker 1: preserve margins, but then trading picked up in six months

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Speaker 1: to the end of June, delivering double digit revenue growth

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Speaker 1: across Europe and the US. Apparently cooking and food preparation

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Speaker 1: appliances staged a turnaround. Chief executive Jim Clayton sa the

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Speaker 1: new financial year has started with top line momentum. Story

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Speaker 1: number three. Ensurer IAG has warned insurance premiums will keep rising,

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Speaker 1: just like competitive Sun Corp said yesterday. In IAG's case,

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Speaker 1: it's the surging costs of tradees to repair homes, along

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Speaker 1: with car parts and mechanics, pushing up premium prices. IAG

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Speaker 1: said his premium income in the twenty twenty five financial

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Speaker 1: year that's this financial year, will rise by mid to

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Speaker 1: high single digits, a similar forecast to Suncorp. However, the

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Speaker 1: problem is when customers make claims to fix damaged houses,

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Speaker 1: IAGS forking out high costs to pay subcontractors. According to

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Speaker 1: report in the fin Review. In Victoria, where much of

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Speaker 1: the construction workforce is unionized under CFMEU labour costs raised

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Speaker 1: by eighteen percent in the past year, while costs of

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Speaker 1: building materials like paint and plaster or up by ten percent.

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Speaker 1: These costs will be passed through over the next twelve

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Speaker 1: months as insurance contracts are renewed. The good news is

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Speaker 1: that IAG said priced precures on car repairs is easy.

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Speaker 1: Straight Number four oil and gas giant Santos reported at

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Speaker 1: large than expected eighteen percent drop in its first half

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Speaker 1: core profit on the back of weak at LNG prices,

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Speaker 1: sending its share price down four percent. All the result

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Speaker 1: was disappointing. Much of the focus was on future projects.

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Speaker 1: Santos said the contentious Narrowbraye coal sam gas project in

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Speaker 1: New South Wales was among several projects that could reach

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Speaker 1: a final investment decision next year. The delayed fifteen billion

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Speaker 1: dollar popular New Guinea LLNG project in the Dorado oil

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Speaker 1: and Gas project in Western Australia are also targeted for

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Speaker 1: a final go ahead for construction next year, as is

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Speaker 1: Santos's first offshore carbon capture and storage project, and finally,

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Speaker 1: Straight Number five Ukraine law launched one of the largest

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Speaker 1: ever drone attacks on Moscow overnight. According to the city's mayor,

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Speaker 1: with Russian air defense units destroying at least eleven drones

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Speaker 1: flying towards the capitol. Some of the.

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Speaker 2: Drones were destroyed over the city of Padolsk. According to

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Speaker 2: routers Now, The city, which is in the Moscow region,

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Speaker 2: is about thirty eight kilometers south of the Kremlin. The

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Speaker 2: attack comes as Russia, while advancing in eastern Ukraine, struggles

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Speaker 2: to push Ukrainian forces out of its own Kersk region,

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Speaker 2: two weeks after they smashed through Russia's western border in

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Speaker 2: the largest invasion of Russia since World War II. The

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Speaker 2: attacks overnight caused no injuries or damage, according to preliminary information.

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Speaker 2: That's it the afternoon report for Wednesday, the twenty first

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Speaker 2: of August twenty twenty four. Michael Thompson and I will

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Speaker 2: be back tomorrow morning with the Thursday edition of Fear

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Speaker 2: and Greed Business News. I'm Shane Elma.

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Speaker 1: Enjoy evening.