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

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Speaker 1: for Wednesday, the twelfth, February twenty twenty five. 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. Story up, I'm the

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Speaker 1: SMPA six two hundred finished up more than half a

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Speaker 1: percent today to eight five hundred and thirty five points,

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Speaker 1: a new closing high and not far off the all

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Speaker 1: time interday high of eighty five hundred and sixty seven points.

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Speaker 1: Industrials did best, while financials jumped on the back of

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Speaker 1: a boom Commonwealth Bank result. It had a few friends,

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Speaker 1: though National Australia Bank did well, so to Westpac and

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Speaker 1: Macquarie Bank. The Commonwealth reported a five point one three

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Speaker 1: billion dollar profit for the sixth month to the end

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Speaker 1: of December, also recorded a high dividend. The result was

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Speaker 1: in line with expectations or a little bit better, but

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Speaker 1: it was a high quality result that's what sent its

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Speaker 1: share price up. The tech stocks were among the worst

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Speaker 1: performers today. Promticus and Zero were both down two percent.

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Speaker 1: A few notables. The share price of computer Share jumped

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Speaker 1: fifteen percent after its half year profit beat expectations and

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Speaker 1: management flagged and upgrade in full year profits. Sun Corps

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Speaker 1: share price jumped one and a half percent after the

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Speaker 1: insurer's net profit rose to one point one billion dollars

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Speaker 1: in the first half. That's up from five hundred and

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Speaker 1: eighty two million dollars. The big jump was thanks to

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Speaker 1: a one off gain from the sale of its bank

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Speaker 1: to Aynez. Story number two. The Prime Minister has led

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Speaker 1: a chorus of criticism over a video involving two nurses

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Speaker 1: from Sydney in hospital uniforms, one of whom's threatened to

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Speaker 1: kill Israeli patients and refuse them medical care. The PM

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Speaker 1: characterized the video as driven by hate, disgusting and vile.

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Speaker 1: He's spoken to the Australian Federal Police to offer whatever

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Speaker 1: assistance is required for the New South Wales Police investigation.

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Speaker 1: The New South Wales government says the pair will never

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Speaker 1: be allowed to work for the state's health system again

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Speaker 1: as it looks into the incident. Story number three. One

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Speaker 1: of Australia's biggest gold mine, Evolution Mining, is rewarding shareholders

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Speaker 1: for a much higher price for the precious metal, tripling

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Speaker 1: it's half a year dividend. Evolution said It's profit for

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Speaker 1: six months at the end of December almost quadrupled, in

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Speaker 1: part thanks to gold hovering around twenty nine hundred US

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Speaker 1: dollarsand ounce. For that period, Evolution's revenue was two billion dollars,

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Speaker 1: up fifty percent. It operates six gold mines in Australia

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Speaker 1: and Canada. The group plans to mine seven hundred and

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Speaker 1: eighty thousand ounces of gold this financial year. Its share

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Speaker 1: price is up about thirty one percent of the last

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Speaker 1: five weeks, one hundred and ten percent in the last

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Speaker 1: twelve months. That's what happens when the price for gold

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Speaker 1: surges Story number four. In global markets, the Aussie dollar

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Speaker 1: is on a tear. Its not really, but it is

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Speaker 1: back above sixty three US cents. That came despite the

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Speaker 1: US Federal Reserve Chairs Rome Powell overnight saying he's in

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Speaker 1: no hurry to cut rates. In the US, oil prices

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Speaker 1: are higher as signs emerge their sanctions against Russian oil

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Speaker 1: exports are kicking in that help the local oil companies

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Speaker 1: like Santos and Woodside. Today and story number five, there's

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Speaker 1: almost too many stories out of the US and the

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Speaker 1: Trump administration to go through them all. Let's look at

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Speaker 1: some highlights. Elon Musk today denied leading a hostile takeover

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Speaker 1: of the US government and defended his cost cutting plans

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Speaker 1: is He made a surprise first appearance at the White House,

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Speaker 1: and the world's richest man took questions from reporters in

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Speaker 1: the Oval Office as he stood next to President Donald

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Speaker 1: Trump and had his four year old son playing in

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Speaker 1: between them. He admitted to being incorrect in some of

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Speaker 1: the things he says, but broadly described sweeping government cuts

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Speaker 1: as common sense measures that are non draconian or radical. Meanwhile,

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Speaker 1: Donald Trump has again insisted that the US will take

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Speaker 1: control of the Gaza strip. He was talking after he

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Speaker 1: met with Jordan's King Abdullah, who has rejected the proposal,

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Speaker 1: and in related years, Israeli's Prime Minister Benjamin Netanya, who

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Speaker 1: has warned Hamas he will end the cease firing Gaza

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Speaker 1: and resume fighting if the Palestinian group does not return

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Speaker 1: our hostages by Saturday noon. And that Nyahu said he

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Speaker 1: had ordered Israeli forces to a mass inside and around

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Speaker 1: Gaza in response to her mass's announcement that it was

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Speaker 1: postponing freeing more hostages until further notice. That's it. The

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Speaker 1: Afternoon Report for Wednesday, the twelfth of February twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast. We will

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Speaker 1: be back tomorrow morning with your Thursday edition offiar and

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Speaker 1: Greek business news. I'm seanielma Enjoy your evening