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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 thirtieth of June twenty twenty five on

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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. So let's

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Speaker 1: get going with story number one. The local share market

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Speaker 1: has finished the financial year on a high, rising zero

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Speaker 1: point three percent today to close at eighty five hundred

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Speaker 1: and forty two points. Healthcare stocks led the way. CSL

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Speaker 1: jumped more than two percent. Tech stocks also did pretty well,

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Speaker 1: while the big miners went backwards. James Hardy was a

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Speaker 1: strong performer following news that it will shift its primary

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Speaker 1: listing to Wall Street, and biotech company the exotically named Tetratherics,

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Speaker 1: jumped thirteen percent in the first few minutes of its

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Speaker 1: debut on the Australian share market for the financial year.

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Speaker 1: The ASX two hundred was up ten percent onto story

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Speaker 1: number two. Now and Energy Minister Chris Bowen has announced

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Speaker 1: a review into gas market regulations following the release of

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Speaker 1: an agable C report which the government claims shows that

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Speaker 1: short term gas supply is sufficient, although further investment is

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Speaker 1: needed for the longer term. The review is going to

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Speaker 1: look at measures introduced by successive governments which aim to

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Speaker 1: safeguard Australia's energy supplies and prices. Mister Bowen reiterated that

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Speaker 1: quote gas has an important role to play in our

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Speaker 1: energy system as we transition towards eighty two percent renewables.

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Speaker 1: As part of the review, the government's going to consider

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Speaker 1: establishing an East Coast gas reservation, but has ruled out

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Speaker 1: imposing domestic supply conditions on existing projects. Story number three.

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Speaker 1: Stands Sport will stream the English Premier League from the

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Speaker 1: start of next season in August under a three year

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Speaker 1: deal that ends Optus's ten year four a into live sports.

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Speaker 1: We've talked about this a bit recently while it was

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Speaker 1: all being speculated. The deal now has been done, with

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Speaker 1: stands owner nine Entertainment confirming that it will acquire the

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Speaker 1: rights to the world's most popular domestic competition and the

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Speaker 1: FA Cup as well. In a deal in which the

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Speaker 1: Optus Sport platform will close. Stand will acquire Optice's media rights,

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Speaker 1: subscriber agreements and social media assets from August one. The

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Speaker 1: deal also includes access to Japan's J one League and

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Speaker 1: the US National Women's Soccer League. Story number four, Private

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Speaker 1: health insurer Booper has agreed to pay a thirty five

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Speaker 1: million dollar fine after conceding that it engaged in misleading

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Speaker 1: and unconscionable conduct. The Australian Competition and Consumer Commission says

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Speaker 1: Booper admits to the breaches after advising members they were

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Speaker 1: not entitled to private health insurance benefits for their entire

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Speaker 1: claim when this was not true. Now most of the

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Speaker 1: claims were for hospital treatment where two or more procedures

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Speaker 1: were performed at the same time. Booper incorrectly rejected the

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Speaker 1: entire claim in some cases where part of the treatment

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Speaker 1: was covered by a members policy and part of it

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Speaker 1: was not. And finally, story number five an update on

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Speaker 1: the Abu Dhabi National Oil Company's thirty six billion dollar

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Speaker 1: bid for oil and gas giant Santos. The parties have

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Speaker 1: agreed to a six week due diligent process. However, after

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Speaker 1: four weeks, Santos is able to enter discussions with rival bidders.

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Speaker 1: If a superior takeover offer is made. Under the agreement,

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Speaker 1: Santos must provide the Adnock led group the name of

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Speaker 1: the competing bidder and the terms of their offer. If

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Speaker 1: one does in fact, emerge. Adnockx bid, which has been

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Speaker 1: provisionally agreed to by the Santos Board, values Santos's shares

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Speaker 1: at about eight dollars eighty nine each now. Shares in

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Speaker 1: Santos were recently trading at seven sixty six. The discount

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Speaker 1: reflects concerns that the bid won't receive Foreign Investment Review

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Speaker 1: Board approval, so there's still a few hurdles to overcome.

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Speaker 1: That's it for the afternoon report for Monday, the thirtieth

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Speaker 1: of June twenty twenty five. Make sure you hit follow

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Speaker 1: on the podcast and we'll be back tomorrow morning with

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Speaker 1: the Tuesday edition of Fear and Greed. Are Michael Thompson.

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Speaker 1: Enjoy your evening