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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 twentieth of November twenty twenty four. I'm

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Speaker 1: sure in Aelma every afternoon we've got the five stories

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Speaker 1: that happened today that you need to know about. Stratum

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Speaker 1: On the share market might have hit a new high yesterday,

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Speaker 1: but it fell today. In fact, it dropped another zero

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Speaker 1: point six percent to finish at eighty three hundred and

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Speaker 1: twenty seven points. Telcos were among the hardest hit after

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Speaker 1: Telstra dropped nearly two percent, while industrials and consumer discretionary

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Speaker 1: stocks also fell. Among the large caps are Plenty that

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Speaker 1: dropped more than one percent. Westpac, Woodside, Ria Group, Aristocrat,

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Speaker 1: Leisure QB zero, Brambles Coals CSL was the best of

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Speaker 1: the megacaps. It rose nearly one percent. Downer came out

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Speaker 1: with an update at its annual general meeting. It disappointed,

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Speaker 1: and its share price dropped nearly one percent. Where the

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Speaker 1: Travel Group was the post report today, but it delayed

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Speaker 1: for seven days. No real reason for that one and

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Speaker 1: wis tech Global is under five for holding a virtual

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Speaker 1: AGM on Friday, means Richard White, the founder and CEO,

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Speaker 1: won't have to physically front shareholders. H interesting that one.

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Speaker 1: Story Number two, Australia's Ambassador to the United States, Kevin Rudd,

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Speaker 1: has made his first public comments since the US election,

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Speaker 1: saying he will work to deepen the US engagement in

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Speaker 1: the Indo Pacific, adding that American leadership remains indispensable. Now,

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Speaker 1: this is the guy who was talking about Donald Trump,

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Speaker 1: called him a traitor to the West, the most destructive

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Speaker 1: president in history, a village idiot. You get the gist.

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Speaker 1: Having said all that, Donald Trump has forgiven enemies previously.

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Speaker 1: In fact, his vice president elect j D Vance was

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Speaker 1: very anti Trump at some point. But it seems to

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Speaker 1: have turned things around. Looks like Donald Trump loves a

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Speaker 1: convert more than anything else, and that's what is sounding like.

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Speaker 1: Miss Rud said the Albanezy government had done all the

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Speaker 1: work and was ready to work with the new Trump administration.

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Speaker 1: He said that the embassy in Washington has been working

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Speaker 1: hard for this moment. He would try and sell Donald

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Speaker 1: Trump on the benefits of the Orchest nuclear subdeal to

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Speaker 1: American industry and jobs. He was speaking via video, so

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Speaker 1: he couldn't actually answer any questions. That's a shame. Story

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Speaker 1: Number three furniture retailer Nick Scarley said profits could be

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Speaker 1: lower than estimated a month ago because one of its

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Speaker 1: logistics partners has collapsed. Now about two hundred con containers

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Speaker 1: full of sofas and dining sets are stranded, mostly at ports.

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Speaker 1: The company's name is lin Global Forwarding. It collapsed. Basically

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Speaker 1: what it does is ship furniture from China. Nick Scarly

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Speaker 1: realized there were problems last month when they were asked

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Speaker 1: to pay their bills early. The group obtained court orders

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Speaker 1: for the shipping lines engaged byline to release the company's containers.

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Speaker 1: How About half are now delivered, but there's still a

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Speaker 1: stack at ports. Nix s. Carly's share price was down

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Speaker 1: two percent today. Story number four ACIK is threatening Superannuation

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Speaker 1: fund executives with penalties if they don't fix them their

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Speaker 1: customer service failings, and it's telling boards they're responsible for

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Speaker 1: improved governance. Today, the Australian Financial Regulation Authority warned Sea

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Speaker 1: Bus that it was still under investigation around governance after

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Speaker 1: the super fund rubber stamped three new CFMEU linked directors

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Speaker 1: to its board. Over the past week, we've had asset

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Speaker 1: launch action against sea Bus, alleging it delayed paying up

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Speaker 1: to twenty million dollars in death and disability payments to

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Speaker 1: people most in need. SeaBus is also under fire for

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Speaker 1: making payments to the CFMEU, another giant of the industry.

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Speaker 1: Hester will be forced to compensate more than one hundred

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Speaker 1: and twenty thousand members who had their retirement savings stranded

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Speaker 1: in unlisted property assets when valuations tumbled in the early

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Speaker 1: days of COVID. The Superannuation watchdog APPRES says Hester's processes

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Speaker 1: were inadequate. It is a sector under the spotlight at

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Speaker 1: the moment and story number five. Israeli Prime Minister Benjamin

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Speaker 1: net Yahoo will pay five million US dollars to any

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Speaker 1: Gaza resident who returns a hostage plus ensure safe passage

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Speaker 1: out of the war ravaged territory. It's the latest twist

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Speaker 1: and what's been an unsuccessful attempt to get the one

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Speaker 1: hundred and one hostages home. Talks between Hamas and Israel

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Speaker 1: to free the hostages have stalled after attempts to reach

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Speaker 1: a ceasefire failed. Benjamin Netanya, who visited Gaza overnight, he

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Speaker 1: said Hamas would not rule the Palestinian territory after the

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Speaker 1: war ends. That's it for the Afternoon Report for Wednesday,

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Speaker 1: the twentieth of November twenty twenty four. Don't forget follow

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

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Speaker 1: ex TikTok and Facebook. Join Michael Thompson and I Rum

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Speaker 1: Morning for the Fast five by Fear and Greed, the

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Speaker 1: top five visits stories you need to know in just

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Speaker 1: five minutes. I'm Sean Elma enjoy reading