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

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Speaker 1: for Friday, the fourteenth of March twenty twenty five. I'm

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Speaker 1: suan Alma. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Strot Number one,

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Speaker 1: Prime Minister Anthony ALBERANIZI will participate in a meeting with

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Speaker 1: world leaders organized by UK Prime Minister Keir Starmer to

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Speaker 1: discuss peace in Ukraine. New Zealand and Canada's prime ministers

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Speaker 1: as well as other European leaders, will participate in the

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Speaker 1: phone hook up this weekend. Prime Minister Albanese has said,

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Speaker 1: and I quote, I look forward to re engaging with

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Speaker 1: President Zelenski with other Democratic leaders as well. I won't

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Speaker 1: preempt what comes out of that meeting, but Australia has

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Speaker 1: of course stood with Ukraine since the beginning of this process.

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Speaker 1: The big question is whether Australia will be asked to

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Speaker 1: send troops to the Ukraine, and even bigger is the answer.

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Speaker 1: Story Number two. The Comwealth Grant's Commission has released the

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Speaker 1: latest proposed Gstkaver, a process which always triggers outcries among

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Speaker 1: the states. Victoria will receive more GST revenue than it

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Speaker 1: nationally raises. In twenty twenty four to twenty five, it

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Speaker 1: received ninety six cents in the dollar of GST back,

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Speaker 1: but next financial year that will increase to eight dollar

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Speaker 1: in seven cents. The main reason is its lower capacity

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Speaker 1: to raise mining revenue relative to the main mining states

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Speaker 1: and its higher relative state population growth. Queensland looks to

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Speaker 1: be the biggest loser. Its GST relativity will fall from

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Speaker 1: ninety five cents to eighty five cents, while New South

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Speaker 1: Wales goes from eighty six point seven cents back to

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Speaker 1: eighty six cents. Western Australia now has a guaranteed GST

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Speaker 1: floor of seventy five cents in the dollar. The Commission

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Speaker 1: said that the state is estimated to receive six billion

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Speaker 1: dollars in additional GST payments next financial lear. That's more

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Speaker 1: than under the previous GST distribution arrangements. Story number three.

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Speaker 1: The federal government has thrown its support behind beef and

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Speaker 1: wine producers as the United States threatens to expand tariffs

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Speaker 1: to agricultural. Tariffs of twenty five percent on steel and

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Speaker 1: aluminium have already come into effect, and billions of dollars

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Speaker 1: in Aussie beef and wine could be next on the

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Speaker 1: chopping block. Trade Minister Don Farrell spoke to US Commerce

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Speaker 1: Secretary Howard Lutnik this morning and said afterwards that he'll

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Speaker 1: stand with beef, wine and other agricultural exporters to protect

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Speaker 1: their interests. US President Donald Trump overnight pledged to protect

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Speaker 1: American agriculture and threatened two hundred percent tariffs on European

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Speaker 1: wine in response to that region putting fifty percent tariffs

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Speaker 1: on American whiskey. There is still limited information from the

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Speaker 1: Trump administration on any potential agricultural tariffs. Will be waiting

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Speaker 1: with baited breath for that one story. Number four. Higher

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Speaker 1: iin are prices helped lift the share market today, with

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Speaker 1: SMPASX two hundred closing up half percent to seven seven

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Speaker 1: hundred and eighty nine points. It's a good day for

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Speaker 1: the local market, particularly since Wall Street fell overnight and

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Speaker 1: is now at its lowest point since September last year.

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Speaker 1: For the week, the market was down two percent. All

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Speaker 1: prices rose to one hundred and two US I was

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Speaker 1: a ton overnight, helping BAJP route into and forty SECW

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Speaker 1: Metals Group one commodity losing ground Is oil after OPET

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Speaker 1: warned of a potential oversupply that hit a number of

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Speaker 1: energy stocks here, including Woodside and Mpole. The price of

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Speaker 1: goals hit a new record reached two thousand nine and

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Speaker 1: ninety dollars and two US cents this morning. That's an ounce,

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Speaker 1: of course, it reflects fears of a global slowdown and

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Speaker 1: an outbreak of inflation. Goals a safe haveord in times

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Speaker 1: of trouble, and its appreciation doesn't really auger that well

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Speaker 1: for the economic outlook. The new record sent share prices

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Speaker 1: of local gold stocks high, with Newmont west Gold, Northern Star,

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Speaker 1: Regis Resources, and Evolution Mining au rising sharply and story

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Speaker 1: a number five. Russian President Vladimir Putin said he agreed

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Speaker 1: with the idea of a ceasefire in Ukraine, but questions

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Speaker 1: remain about the nature of a truce, and he set

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Speaker 1: out a number of tough conditions. The Russian president was

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Speaker 1: responding to a plan for a thirty day seas fire

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Speaker 1: with Ukraine agreed to earlier this week after talks with

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Speaker 1: the US WES. Ukrainian President Vladimir Zelenski described Putin's response

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Speaker 1: to the plan as manipulative and called for more sanctions

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Speaker 1: on Russia, according to the BBC. Meanwhile, the US placed

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Speaker 1: further sanctions on Russian oil, gas, and banking sectors. Speaking

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Speaker 1: at a news conference in Moscow, Putins said of the

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Speaker 1: ceasefire proposal, the idea is right and we support it,

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Speaker 1: but there are questions that we need to discuss. A

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Speaker 1: ceasefire should lead to an enduring piece, he said, and

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Speaker 1: remove the root causes of this crisis. It's it for

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Speaker 1: the afternoon report for Friday, the fourteenth of March twenty

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Speaker 1: twenty five. Make sure you hit follow on the podcast.

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Speaker 1: We will be back tomorrow morning with the weekend edition

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Speaker 1: of the Fast five Business News by Fear and Greed.

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Speaker 1: I'm Seanelma. Enjoy your even