1 00:00:03,680 --> 00:00:06,280 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,320 --> 00:00:09,560 Speaker 1: for Thursday, the nineteenth December twenty twenty four. I'm Suan Elmer. 3 00:00:09,920 --> 00:00:12,319 Speaker 1: Every afternoon, we've got the five stories that happened today 4 00:00:12,320 --> 00:00:14,560 Speaker 1: that you need to know about. Straight. Number one smp 5 00:00:14,680 --> 00:00:18,200 Speaker 1: ASX two hundred fell by one point seven percent today 6 00:00:18,440 --> 00:00:21,000 Speaker 1: to close at eighty one hundred and sixty eight points, 7 00:00:21,239 --> 00:00:24,360 Speaker 1: the lowest since early November. It came after the US 8 00:00:24,440 --> 00:00:27,760 Speaker 1: Federal Reserve cut interest rates in the world's biggest economy, 9 00:00:28,040 --> 00:00:30,960 Speaker 1: but signaled that was likely to cut two more times, 10 00:00:31,280 --> 00:00:34,080 Speaker 1: not four more times as the market expected. That sent 11 00:00:34,120 --> 00:00:36,320 Speaker 1: the S and P five hundred down three percent overnight, 12 00:00:36,400 --> 00:00:40,320 Speaker 1: and the local market followed. There was selling across the bores. 13 00:00:40,360 --> 00:00:42,479 Speaker 1: All the big banks were lower. In fact, they're all 14 00:00:42,479 --> 00:00:44,760 Speaker 1: off more than two percent, so to Goodman Group. The 15 00:00:44,800 --> 00:00:48,279 Speaker 1: big miners was sold off. Cole's QB and Transurban were 16 00:00:48,280 --> 00:00:52,040 Speaker 1: among the few to end the day blending the black story. 17 00:00:52,120 --> 00:00:54,720 Speaker 1: Number two A and Z held its annual general meeting 18 00:00:54,760 --> 00:00:58,560 Speaker 1: today and investors are not happy, with around thirty eight 19 00:00:58,600 --> 00:01:03,000 Speaker 1: percent of shareholders voting against the bank's remuneration report. Outgoing 20 00:01:03,080 --> 00:01:06,880 Speaker 1: chief executive officer Shane Elliot has voluntarily given up three 21 00:01:06,920 --> 00:01:09,320 Speaker 1: point two million dollars in bonuses on the back of 22 00:01:09,360 --> 00:01:11,880 Speaker 1: the scandal surrounding the bank's trading floors, which are now 23 00:01:12,000 --> 00:01:16,400 Speaker 1: part of a regulatory investigation into market manipulation. The allegations 24 00:01:16,480 --> 00:01:19,720 Speaker 1: are that Trade has manipulated a fourteen billion dollar federal 25 00:01:19,760 --> 00:01:23,319 Speaker 1: government bond issuance to benefit themselves in the bank, pushing 26 00:01:23,360 --> 00:01:26,240 Speaker 1: up borrowing costs. Last week, misster Eliott said he would 27 00:01:26,240 --> 00:01:30,480 Speaker 1: step down next year. In Portuguese banker Nuno Martos will 28 00:01:30,520 --> 00:01:33,440 Speaker 1: take the top job to strike against Anez's rem report. 29 00:01:33,440 --> 00:01:36,280 Speaker 1: Today was the first since twenty eighteen. Another one next 30 00:01:36,360 --> 00:01:38,959 Speaker 1: year means the board will spill and directors will have 31 00:01:39,000 --> 00:01:42,319 Speaker 1: to be revoted. In story number three, Australian officials have 32 00:01:42,360 --> 00:01:44,720 Speaker 1: helped nearly one hundred and fifty citizens get home from 33 00:01:44,760 --> 00:01:48,680 Speaker 1: Benawatu as the Pacific island deals with the aftermath of 34 00:01:48,760 --> 00:01:52,880 Speaker 1: two serious earthquakes. Australian citizens were assisted to get home 35 00:01:53,000 --> 00:01:56,120 Speaker 1: on Royal Australian Air Force flights which were returning from 36 00:01:56,160 --> 00:02:00,240 Speaker 1: the humanitarian mission underway. A sixty four person Disastrous distin 37 00:02:00,400 --> 00:02:03,480 Speaker 1: Response team from Australias on the ground in Manawatu with 38 00:02:03,560 --> 00:02:07,279 Speaker 1: two specialist dogs. The team includes Queensland's fire and rescue 39 00:02:07,320 --> 00:02:10,640 Speaker 1: personnel in K nine teams, as well as doctors, paramedics, 40 00:02:10,760 --> 00:02:15,200 Speaker 1: engineers and communications technicians. The seven point three magnitude earthquake 41 00:02:15,280 --> 00:02:20,119 Speaker 1: struck on Tuesday, killing fourteen and injuring hundreds. Story number four. 42 00:02:20,200 --> 00:02:24,120 Speaker 1: The Albanezi government will reopen Australia's embassy in the Ukrainian 43 00:02:24,240 --> 00:02:28,120 Speaker 1: capital Kiev. Foreign Minister Pennywong traveled to Ukraine and visited 44 00:02:28,120 --> 00:02:30,880 Speaker 1: the site of the embassy, which was evacuated by the 45 00:02:30,919 --> 00:02:34,280 Speaker 1: former coalition government in early twenty twenty two, shortly after 46 00:02:34,360 --> 00:02:37,519 Speaker 1: Russia's February twenty four invasion. She said that from next 47 00:02:37,560 --> 00:02:41,280 Speaker 1: month Australia's ambassador and deputy head of Mission will return 48 00:02:41,360 --> 00:02:45,320 Speaker 1: to the country. Embassy staff and activity were relocated to Poland, 49 00:02:45,639 --> 00:02:48,640 Speaker 1: but the move was only supposed to be temporary. Australia's 50 00:02:48,680 --> 00:02:53,120 Speaker 1: arrangements became increasingly isolated and unusual as most other countries 51 00:02:53,160 --> 00:02:55,800 Speaker 1: returned their diplomatic staff to Kiev over the course of 52 00:02:55,840 --> 00:02:59,960 Speaker 1: twenty twenty two, and finally's story number five, every female 53 00:03:00,200 --> 00:03:03,440 Speaker 1: employee of BHP and Rio Tinto of the past twenty 54 00:03:03,520 --> 00:03:07,760 Speaker 1: years will be invited to join class actions alleging sexual 55 00:03:07,800 --> 00:03:13,320 Speaker 1: harassment after Brisbane law firm JGA Sadler started legal proceedings 56 00:03:13,400 --> 00:03:17,520 Speaker 1: last week. JJA Sadler lawyer Josh Aylwood said he'd advised 57 00:03:17,639 --> 00:03:20,680 Speaker 1: two unnamed women in the filing of two separate claims, 58 00:03:20,680 --> 00:03:23,840 Speaker 1: one against BHP one against Rio. According to Astroyer in 59 00:03:23,880 --> 00:03:26,640 Speaker 1: the Finn Review, the legal action would be run on 60 00:03:26,680 --> 00:03:29,600 Speaker 1: an opt out basis. That means all women who worked 61 00:03:29,600 --> 00:03:32,440 Speaker 1: for BHP or RIO since November twenty twenty three will 62 00:03:32,480 --> 00:03:35,840 Speaker 1: be eligible to register for the claim unless they actively 63 00:03:35,960 --> 00:03:38,800 Speaker 1: choose to opt out. Mister Aylwood said BHP and RIO 64 00:03:38,880 --> 00:03:41,560 Speaker 1: would be ordered by the court potentially as early as 65 00:03:41,600 --> 00:03:44,760 Speaker 1: February to contact all form of female employees and make 66 00:03:44,800 --> 00:03:47,840 Speaker 1: them aware of their eligibility. The class action comes two 67 00:03:47,880 --> 00:03:50,640 Speaker 1: and a half years after the West Australian Parliament handed 68 00:03:50,680 --> 00:03:54,040 Speaker 1: down a bombshell inquiring into sexual harassment at mind Sights. 69 00:03:54,280 --> 00:03:57,120 Speaker 1: The process forced big miners such as BHP, RIO and 70 00:03:57,160 --> 00:04:01,320 Speaker 1: Fortescue to reveal dozens of sexual harassment claims made by staff. 71 00:04:01,760 --> 00:04:04,280 Speaker 1: That's it. If the Afternoon Report for Thursday, the nineteenth 72 00:04:04,280 --> 00:04:06,720 Speaker 1: of December twenty twenty four, make sure you hit follow 73 00:04:06,760 --> 00:04:09,120 Speaker 1: on the podcast. We'll be back tomorrow morning with the 74 00:04:09,160 --> 00:04:12,080 Speaker 1: Friday edition. Off here in Greed Business News, I'm Shane Elmer. 75 00:04:12,520 --> 00:04:13,240 Speaker 1: Enjoy your reading.