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Speaker 1: Welcome to the Fearing Greed Business News Afternoon Report for Thursday,

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Speaker 1: the third of October twenty twenty four. 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 number one. The

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Speaker 1: s and PAX two hundred closed flat to eighty two

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Speaker 1: hundred and five points, with shares and commercial property groups

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Speaker 1: rising following an upbeat assessment from investment bank Barn Joey.

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Speaker 1: The Real Estate Investment Trust index on the ASX two

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Speaker 1: hundred closed up more than one percent. But really there

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Speaker 1: wasn't a lot of activity today. The banks were mixed,

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Speaker 1: so to the retailers and miners. Westpac is set to

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Speaker 1: make more than one billion dollars in proceeds from the

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Speaker 1: sale of its auto finance loan book to follow ASX

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Speaker 1: listed Rezumac Group. Westpac's share price for one percent today.

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Speaker 1: Sigma Healthcare share price keeps running up seven percent today.

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Speaker 1: It's now jump more than fifty percent since it gave

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Speaker 1: an undertaking to the ahable c about steel to merge

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Speaker 1: with Chemist Warehouse, and a note from Goldman Sachs suggested

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Speaker 1: investors switch for Goozmany Gomes shares to Colin's Foods, owner

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Speaker 1: of KFC. That pushed the share price of Colin's up

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Speaker 1: more than two percent and Goozman down five percent. I

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Speaker 1: you Goosman's share price is still more than double its

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Speaker 1: listing price back on June twenty, Straight Number two. As

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Speaker 1: the crisis in the Middle East worsens, pro Palestine organizers

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Speaker 1: in Sydney have dumped plans to hold a rally to

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Speaker 1: mark the one year anniversary of the Himas invasion of

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Speaker 1: Israel Earlier today, New South Wales Premier Chris Mint said

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Speaker 1: any protest shows no sympathy for the fact that this

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Speaker 1: was a terrible terrorist incident in Israel and there are

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Speaker 1: people who are grieving and it would be distasteful at best.

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Speaker 1: He made an application to stop the protest ahead of

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Speaker 1: the organizer's decision to pull the plug. Meanwhile, Opposition leader

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Speaker 1: Peter Dutton has accused Victorian Premier to Cinra Allen of

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Speaker 1: hiding behind an argument of convenience for not moving to

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Speaker 1: block planned anti Israel protests in Melbourne on that day.

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Speaker 1: October seven, straightt Number three Canned Food Group SPC is

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Speaker 1: heading back to the ASX with a reverse takeover of

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Speaker 1: original Juice Co SPC was established more than one hundred

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Speaker 1: years ago as a farmer cooperative in Victoria, eventually listed

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Speaker 1: on the ASEX than in two thousand and five. It

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Speaker 1: delisted after being bought by Coca Cola Emetol for about

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Speaker 1: seven hundred and fifty million dollars. A private equity group

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Speaker 1: bought the business from Coca Cola Emetal in twenty nineteen

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Speaker 1: for just forty million dollars. SPC will merge with Original

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Speaker 1: Juice Co, which is those small ASX listed stock the

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Speaker 1: Sheermark valuation of about fifty or fifty five million dollars.

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Speaker 1: It will then spend fifty million dollars to acquire Nature

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Speaker 1: One Dairies, infant Formula and powdered milk business combined, and

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Speaker 1: your revenues will be about four hundred million dollars or thereabouts.

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Speaker 1: The main brands in the SPC business are spc Ardmona,

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Speaker 1: Goldbanon Valley and pro Vital. The Original Juice Co is

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Speaker 1: the third largest orange juice producer in the country. Story

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Speaker 1: number four, the des moin Cotton Louis Drefus takeover saga,

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Speaker 1: which we thought had ended yesterday, continues. The ASEX was

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Speaker 1: forced to scrap hundreds of thousands of dollars of trades

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Speaker 1: in Nemoy cotton after it failed to publish an updated

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Speaker 1: takeover offer from bidder Louis Dreyfus ahead of the shares trading.

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Speaker 1: The information should have been published by the AASEX ahead

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Speaker 1: of the opening on Tuesday. The information was certainly relevant.

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Speaker 1: It said that Louis Dreyfus had up its takeover offer

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Speaker 1: to seventy seven cents to share for Nemoi and had

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Speaker 1: the support of a major shareholder. That's relevant and definitely material.

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Speaker 1: But for some unknown reason well the AX said it

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Speaker 1: was a processing error. The announcement wasn't published between ten

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Speaker 1: oh six and ten twelve on Tuesday morning. Shares were

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Speaker 1: traded just below seventy cents to share when the revised

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Speaker 1: offer was for the full seventy seven cents a share.

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Speaker 1: In the end, it probably doesn't make much difference. Louis

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Speaker 1: Drefus got Nemoy, but what if it was a much

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Speaker 1: bigger deal? Not a good look and story at Number

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Speaker 1: five this morning announced a jump in quarterly vehicle sales

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Speaker 1: for the three months to the end of September, though

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Speaker 1: the rise wasn't enough to keep investors happy investors were

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Speaker 1: hoping for more of a jump in sales in China.

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Speaker 1: Over All, nearly four hundred and sixty three thousand Teslas

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Speaker 1: was sold during the quarter, up six percent from a

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Speaker 1: year earlier. Tesla's share price fell three and a half percent,

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Speaker 1: having earlier droped more than six percent. China's government has

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Speaker 1: doubled an incentive for consumers to trade in older cars

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Speaker 1: for evs, and alongside excitement around self driving prototypes, due

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Speaker 1: to really shortly, there were hopes that Tesla sales would

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Speaker 1: be much higher. It wasn't to be as it. For

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Speaker 1: the Afternoon Report for Thursday, the third of October twenty

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Speaker 1: twenty four, Michael Thompson and I will be back tomorrow

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Speaker 1: morning with a Friday edition of Fear and Greed Business News.

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Speaker 1: I'm Seane Elmer. Enjoy your evening,