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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 tenth of December. I'm Michael Thompson, and

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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. Let's go with story

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Speaker 1: number one. A very flat day really on the SMPA

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Speaker 1: SEX two hundred, today's investors process, yesterday's decision by the

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Speaker 1: Reserve Bank to leave rates on hold, and more importantly,

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Speaker 1: the commentary around the likelihood of no more interest rate cuts.

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Speaker 1: The share market closed down zero point zero eight percent

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Speaker 1: today to eighty five hundred and seventy nine points, so

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Speaker 1: just off a touch. The best performing sector was the

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Speaker 1: materials stocks, the worst the tech companies. A lot of

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Speaker 1: anticipation ahead of the US FED meeting overnight the Central

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Speaker 1: Bank tip to cut interest rates in the world's biggest economy.

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Speaker 1: The decision will come through tomorrow morning. Locally, we'll start

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Speaker 1: with the miners, the gold diggers, in particular Newmont and

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Speaker 1: Northern Star both jumped more than four percent today. Romeilius

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Speaker 1: Resources was up after announcing new share buybacks and an

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Speaker 1: increased dividend, as well a record silver price today of

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Speaker 1: sixty US dollars an outsource, South thirty two and Sun

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Speaker 1: Silver have a very good day. Mixed day for the banks,

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Speaker 1: and at the other end, the tech stocks had an

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Speaker 1: ordinary one, Technology one, Wisetech Global and zero were all

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Speaker 1: off between one and a half and two percent today.

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Speaker 1: Story number two. This is day one of the federal

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Speaker 1: government's social media ban for under sixteens and teenagers are

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Speaker 1: already finding workarounds. As you would expect, Lesser known apps

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Speaker 1: like Lemonade, YopE and cover Star are rocketing up the

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Speaker 1: download charts. Teams looking for loopholes. We'll have more on

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Speaker 1: that tomorrow. Others are using their parents logins using VPNs

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Speaker 1: to dodge age checks. Media reports also include stories of

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Speaker 1: underage teens being deemed old enough by Snapchat's facial age

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Speaker 1: check or the age check software it's not working at

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Speaker 1: all and giving them access still. The Financial Review reports

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Speaker 1: a pole of fifteen year seven students from a school

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Speaker 1: in Geelong that out of those fifteen, only two had

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Speaker 1: been removed from their accounts over the past week. The

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Speaker 1: others had mostly used fake birth dates to avoid removal.

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Speaker 1: The government admits that the system is not and won't

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Speaker 1: be perfect, but says the law sets are very clear

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Speaker 1: national standard and gives parents back up when they say

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Speaker 1: no to social media. Sorry Number three. Westpac customers have

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Speaker 1: been hit by an outage today that's left some unable

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Speaker 1: to pay or get paid. From about lunchtime today, thousands

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Speaker 1: of people reported problems with fpost terminals and online payments,

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Speaker 1: with some retailers saying they couldn't process any sales. Westpac

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Speaker 1: has confirmed the outage, saying some merchant systems and card

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Speaker 1: systems were degraded and that it was working to restore

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Speaker 1: services as quickly as possible, while apologizing for the disruption.

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Speaker 1: The bank's status page says terminals and e commerce platforms

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Speaker 1: are suffering intermittent failures, and call center messages were warning

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Speaker 1: of issues with merchant terminals as well. Story number four.

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Speaker 1: This is a little bit worrying. More than four in

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Speaker 1: five Senior Australians say they have encountered scams, and around

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Speaker 1: one in five have actually lost money, in some cases

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Speaker 1: tragically more than fifty thousand dollars. A new report commissioned

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Speaker 1: by Seniors Australia says most individual losses were smaller under

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Speaker 1: one thousand dollars, but it also revealed the number of

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Speaker 1: victims who don't actually report the crime, with sixteen percent

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Speaker 1: of those who lost money not reporting the loss to

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Speaker 1: any organization. Those who did report mostly went to their bank,

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Speaker 1: but around twenty percent went to Scam Watch. Another twenty

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Speaker 1: percent went to the police. Parcel delivery cons, fake overdue bills,

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Speaker 1: and phishing scams are the most common ones encountered, but

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Speaker 1: AI is starting to play a role, including deep fake

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Speaker 1: voices pretending to be loved ones, hyperrealistic emails, and bogus

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Speaker 1: images that are hard to pick. Nearly ninety percent of

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Speaker 1: seniors feel that they are being left behind on AI,

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Speaker 1: and most admit they still sometimes assume what they see

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Speaker 1: online is real without checking, which I think all of

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Speaker 1: us do. That story number five Fresh images out of

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Speaker 1: Russia our fueling long running claims that Vladimir Putin has

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Speaker 1: two secret young sons with a former Olympic gymnast, Elena Kavieva.

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Speaker 1: The Australian newspaper reports videos posted on a Russian language

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Speaker 1: website show two boys said to be ten year old

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Speaker 1: Ivan and six year old Vladimir Junior, training and performing

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Speaker 1: at a gymnastics academy linked to Kavieva. Investigative journalists say

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Speaker 1: the children news an alias surname, live under heavy security

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Speaker 1: at a forest compound outside Moscow and have effectively been

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Speaker 1: erased from official records. The Kremlin has never acknowledged any

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Speaker 1: relationship between Putin and Kaveeva, and Russian state media are

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Speaker 1: banned from mentioning it. Putin publicly recognizes only two adult

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Speaker 1: daughters from his former wife, but rumors about a second

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Speaker 1: secret family have swirled for more than a decade. That's

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Speaker 1: it for the afternoon report for Wednesday, the tenth of December.

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Speaker 1: Make sure you're following the podcast and please head along

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Speaker 1: to Fear and Greed dot com dot A you to

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Speaker 1: sign up for our pre daily newsletter. I'm Michael Thompson.

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Speaker 1: Enjoy your evening. M