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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 second of September twenty twenty four. Michael Thompson.

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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. So let's get going

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Speaker 1: a story number one. The S and p ASX two

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Speaker 1: hundred closed up zero point two percent today to eighty

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Speaker 1: one hundred and ten points, with a surprise afternoon uptick,

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Speaker 1: reversing early morning declines and pushing the market close to

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Speaker 1: its previous record high. Financials and energy were the top

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Speaker 1: performing sectors over the day, with the banks behind the

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Speaker 1: afternoon surge. Gold Metals and mining materials all fell pretty sharply,

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Speaker 1: with drops in both gold and the iron ore price

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Speaker 1: weighing on the market. Jewelry company Leavisa Holdings bounce back

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Speaker 1: a bit today as well, with shares up three point

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Speaker 1: one percent after seeing quite a drop at the end

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Speaker 1: of last week amid concerns about discretionary consumer goods despite

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Speaker 1: solid results. Bellevue Gold fell nine point one percent after

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Speaker 1: posting results, followed by Red Five down seven point four percent.

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Speaker 1: Dream World Zonner Coast Entertainment suffered a share price fall

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Speaker 1: of one point nine percent. It followed news that an

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Speaker 1: animal handler was bitten by a tiger at the Gold

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Speaker 1: Coast Theme Park and area. Group put a halt to

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Speaker 1: trading this morning as it announced it's considering making a

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Speaker 1: move for London listed online property portal right Move, which

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Speaker 1: is the top residential listing service in the UK. After

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Speaker 1: resuming trading, shares fell five point three percent over the day.

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Speaker 1: On de story number two now, the Star Casino Star

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Speaker 1: Entertainment Group has been suspended from trading on the ASX.

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Speaker 1: After the Star received its copy of a review from

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Speaker 1: the New South Wales Regulator into its operations late last week,

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Speaker 1: it held off publishing its financial results and went into

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Speaker 1: a trading halt. It then failed to post results today

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Speaker 1: and the ASEX stepped in and suspended securities for falling

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Speaker 1: behind the due date. There is not yet any date

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Speaker 1: for when the suspension will lift. The Australian Financial Review

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Speaker 1: report that over the weekend Stars executives were looking for

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Speaker 1: ways to relax debt obligations and that without a way

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Speaker 1: to raise capital or move past this episode, it may

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Speaker 1: face being put up for sale. On to story number three,

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Speaker 1: September has been off to a rough start after a

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Speaker 1: record breaking hot August. One person has been killed and

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Speaker 1: more than one hundred thousand Australians left without power as

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Speaker 1: wild whether lashes the East coast on the weekend and today.

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Speaker 1: There have been some chaotic scenes across parts of Australia.

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Speaker 1: In Victoria, about one hundred and twenty one thousand people

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Speaker 1: were without power and there were hundreds of fixed line

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Speaker 1: phone customers unable to make or received called. By ten

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Speaker 1: am this morning, twenty eight hundred people had called for

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Speaker 1: assistance amid fallen trees and building damage. Just across the

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Speaker 1: border at Moama, in New South Wales, a woman was

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Speaker 1: killed when a tree fell on a holiday cabin. Elsewhere

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Speaker 1: in the state, dozens of grass and bush fires were ablaze,

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Speaker 1: some of which are still out of control, and in

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Speaker 1: Tasmania there have been evacuations of some areas due to

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Speaker 1: flooding and about twenty five one thousand people are still

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Speaker 1: without power today. There are expected to be some big

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Speaker 1: insurance claims filed over the next few days and weeks.

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Speaker 1: Story number three. The Greens are pushing to establish a

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Speaker 1: National Renter's Protection Authority to deal with tenancy disputes and

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Speaker 1: to enforce new minimum rental standards. The authority would cost

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Speaker 1: two hundred million dollars a year, with one thousand national

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Speaker 1: staff members to investigate rental breaches, but also undertake advocacy,

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Speaker 1: advice and education work for tenants. It would be able

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Speaker 1: to levy fines of up to eighteen thousand, seven hundred

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Speaker 1: and eighty dollars against real estate agencies and instant fines

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Speaker 1: of more than three thousand, seven hundred dollars. The idea

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Speaker 1: is that this authority would actually replace tribunals in states

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Speaker 1: and territories that are regularly backed up with these kinds

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Speaker 1: of cases. The Greens are also pushing for a two

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Speaker 1: year rental freeze, two percent per annum caps for rent increases,

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Speaker 1: and the right to have an option to access five

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Speaker 1: year leases and guaranteed renewals final only. Story number five

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Speaker 1: X has officially gone offline in Brazil after owner Elon

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Speaker 1: Musk chose not to comply with the country's laws. It's

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Speaker 1: left millions of local users locked out of the social

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Speaker 1: media platform. The Supreme Court in Brazil had ordered X

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Speaker 1: to scrap anti democratic and far right voices from the

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Speaker 1: service following major upheaval locally, Musk refused and mister deadline

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Speaker 1: to name a new local legal representative after closing its

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Speaker 1: Brazilian office in August. Now locked out, Brazilians have been

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Speaker 1: flocking to rival Blue Sky, according to the Guardian, which

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Speaker 1: has racked up an extra five hundred thousand users over

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Speaker 1: just two days. This number may yet skyrocket, with x

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Speaker 1: having had twenty two million users in Brazil. There has

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Speaker 1: been a backlash against the Brazilian Supreme Court, though, and

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Speaker 1: it's likely that this will be an evolving story. That's

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Speaker 1: it for the afternoon report for Monday, the second of

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Speaker 1: September twenty twenty four. Don't forget to hit follow on

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Speaker 1: the podcast and find Fear and Greed on LinkedIn, Instagram,

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Speaker 1: x TikTok on Facebook. Join us tomorrow morning for the

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Speaker 1: fast five business news by Fear and Greed. The top

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Speaker 1: five business stories you need to know in just five

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Speaker 1: minutes are Michael Thompson Enjoy your Ead