1 00:00:07,080 --> 00:00:09,799 Speaker 1: Welcome to the Fear and Greed Afternoon Report for Friday, 2 00:00:09,840 --> 00:00:13,239 Speaker 1: the thirty first of October twenty twenty five. I'm Adam Lang. 3 00:00:13,560 --> 00:00:15,600 Speaker 1: Here are the five business stories you need to know 4 00:00:15,680 --> 00:00:18,319 Speaker 1: for Halloween tonight and for the weekend. The S and 5 00:00:18,360 --> 00:00:21,360 Speaker 1: p ASX two hundred closed at eighty eight hundred and 6 00:00:21,400 --> 00:00:25,000 Speaker 1: eighty two. That's down four points today and one point 7 00:00:25,079 --> 00:00:27,800 Speaker 1: five percent lower for the week. Banks were mixed to 8 00:00:27,840 --> 00:00:31,280 Speaker 1: the Commonwealth Bank rows one percent. Westpak also gained one percent, 9 00:00:31,520 --> 00:00:34,879 Speaker 1: while the Ainz slipped zero point six and NAB was flat. 10 00:00:35,200 --> 00:00:38,479 Speaker 1: Retail lagged with JB High Fly down three percent and 11 00:00:38,560 --> 00:00:42,160 Speaker 1: West Farmers down two percent. Gold is trading just below 12 00:00:42,280 --> 00:00:45,559 Speaker 1: US four thousand and ounce. Northern Star rose three percent, 13 00:00:45,840 --> 00:00:49,600 Speaker 1: Evolution four percent, New Mount three percent, and West Gold 14 00:00:49,680 --> 00:00:53,920 Speaker 1: five percent, and Regis five percent higher. Linus added three percent. 15 00:00:54,040 --> 00:00:57,400 Speaker 1: All up there week spots included broke A Steadfast Group 16 00:00:57,480 --> 00:01:00,560 Speaker 1: down ten percent and Drone Shield down six six percent. 17 00:01:01,040 --> 00:01:04,920 Speaker 1: On Wall Street, Meta Platforms, owner of Facebook and Instagram, 18 00:01:05,200 --> 00:01:09,320 Speaker 1: dropped eleven percent after warning of higher artificial intelligence spending 19 00:01:09,560 --> 00:01:12,679 Speaker 1: and a tax charge. Brent Krute is near US sixty 20 00:01:12,680 --> 00:01:14,959 Speaker 1: four dollars a barrel and the Australian dollar is buying 21 00:01:15,000 --> 00:01:19,880 Speaker 1: about US sixty five cents. Story number two. ANZ says 22 00:01:19,920 --> 00:01:22,520 Speaker 1: its full year results will take a one point one 23 00:01:22,680 --> 00:01:26,679 Speaker 1: billion after tax hit as new chief executive Nuno Matos 24 00:01:26,720 --> 00:01:30,160 Speaker 1: continues to drive change at the bank. The charges include 25 00:01:30,200 --> 00:01:32,920 Speaker 1: the cost of cutting around three thousand, five hundred jobs, 26 00:01:33,120 --> 00:01:35,240 Speaker 1: a two hundred and forty million dollar fine from the 27 00:01:35,240 --> 00:01:39,120 Speaker 1: corporate regulator ASSEK for misreporting bond trades and misconduct in 28 00:01:39,160 --> 00:01:42,080 Speaker 1: the retail division, as well as another thirty one million 29 00:01:42,120 --> 00:01:46,360 Speaker 1: dollars in related costs. Nunomatos is also accelerating the integration 30 00:01:46,400 --> 00:01:50,440 Speaker 1: of Suncourt Bank to June twenty twenty seven, adding a 31 00:01:50,560 --> 00:01:53,800 Speaker 1: sixty eight million dollar after tax charge for the promise 32 00:01:53,880 --> 00:01:57,320 Speaker 1: of simpler operations. There are also ride offs linked to 33 00:01:57,400 --> 00:02:02,360 Speaker 1: cash rewards and the bank's investment in Indonesia's Panninbank. Altogether, 34 00:02:02,480 --> 00:02:05,520 Speaker 1: the charges will trim an z's core capital ratio by 35 00:02:05,640 --> 00:02:08,480 Speaker 1: nineteen basis points, which is a slight dip in the 36 00:02:08,520 --> 00:02:12,080 Speaker 1: key measure of financial strength, but analysts say it remains 37 00:02:12,120 --> 00:02:16,600 Speaker 1: well above regulatory requirements. The annual results, due November ten, 38 00:02:16,720 --> 00:02:20,240 Speaker 1: will be Ninomattos first as chief executive. A Z shares 39 00:02:20,320 --> 00:02:24,880 Speaker 1: were zero point four percent lower. Story number three. Opposition 40 00:02:25,000 --> 00:02:28,600 Speaker 1: Liberal parties firm commitment to net zero emissions by twenty 41 00:02:28,720 --> 00:02:32,799 Speaker 1: fifty is on shaky ground. After a lengthy backbench meeting 42 00:02:32,800 --> 00:02:36,920 Speaker 1: in Canberra today, Liberal MPs agreed that Australia should continue 43 00:02:36,960 --> 00:02:40,880 Speaker 1: to cut emissions, but not at any cost. Some conservatives 44 00:02:40,919 --> 00:02:43,400 Speaker 1: want to drop the term net zero and remove the 45 00:02:43,440 --> 00:02:47,920 Speaker 1: twenty fifty target altogether, while moderates worn that could alienate 46 00:02:48,080 --> 00:02:51,880 Speaker 1: urban voters. Opposition energy spokesman Dan Teen said the party 47 00:02:51,919 --> 00:02:55,919 Speaker 1: is working hard towards a unified position focused on affordability 48 00:02:56,040 --> 00:03:00,600 Speaker 1: and energy reliability, while Opposition leader Susan Lay insisted she 49 00:03:00,680 --> 00:03:04,600 Speaker 1: won't accept net zero at any cost. The coalition plans 50 00:03:04,600 --> 00:03:08,200 Speaker 1: to finalize its climate policy six to nine months after 51 00:03:08,400 --> 00:03:12,880 Speaker 1: the next federal election, leaving business uncertain about future carbon 52 00:03:13,120 --> 00:03:18,600 Speaker 1: targets and transition settings. Story number four. Sleep apnea device 53 00:03:18,639 --> 00:03:22,440 Speaker 1: maker ResMed, led by chief executive Mic Farrell, announced today 54 00:03:22,480 --> 00:03:26,280 Speaker 1: that it will open a new manufacturing facility in Indianapolis 55 00:03:26,280 --> 00:03:29,600 Speaker 1: in twenty twenty seven. The plant will double res Med's 56 00:03:29,680 --> 00:03:33,880 Speaker 1: US production capacity and extend beyond masks and motors into 57 00:03:33,960 --> 00:03:38,560 Speaker 1: full device manufacturing. Farrell says the move supports President Trump's 58 00:03:38,640 --> 00:03:42,720 Speaker 1: Made in America agenda and reflects lessons from pandemic supply 59 00:03:42,920 --> 00:03:46,400 Speaker 1: chain shocks. It's part of resmed's plan to expand US 60 00:03:46,440 --> 00:03:50,560 Speaker 1: manufacturing by twenty thirty while continuing to develop digital sleep 61 00:03:50,600 --> 00:03:55,080 Speaker 1: monitoring tools. The Indianapolis facility will be smaller than resmed's 62 00:03:55,080 --> 00:03:58,280 Speaker 1: major sites in Singapore and Sydney, but will add capacity 63 00:03:58,400 --> 00:04:02,000 Speaker 1: close to its largest market. Quarterly revenue rose nine percent 64 00:04:02,080 --> 00:04:05,320 Speaker 1: to one point three billion US dollars, profit climbed twelve 65 00:04:05,320 --> 00:04:07,800 Speaker 1: percent to three hundred and forty eight million, and shares 66 00:04:07,960 --> 00:04:11,920 Speaker 1: rose nearly two percent. On the news story number five, 67 00:04:12,120 --> 00:04:16,080 Speaker 1: the Royal family has taken unprecedented action against Prince Andrew, 68 00:04:16,400 --> 00:04:20,080 Speaker 1: stripping him of every royal and noble title and evicting 69 00:04:20,160 --> 00:04:23,000 Speaker 1: him from his home at Windsor. He will now benign 70 00:04:23,080 --> 00:04:27,200 Speaker 1: simply as Andrew Manbatan Windsor, making the final fall from 71 00:04:27,279 --> 00:04:31,440 Speaker 1: grace for the former Duke of York. In a statement 72 00:04:31,520 --> 00:04:35,400 Speaker 1: issued from Buckingham Palace at six am today Eastern Standard time, 73 00:04:35,920 --> 00:04:38,880 Speaker 1: King Charles and Queen Camilla said their sympathies will remain 74 00:04:38,960 --> 00:04:42,080 Speaker 1: with the victims and survivors of any and all forms 75 00:04:42,080 --> 00:04:46,640 Speaker 1: of abuse. Andrew's ties to convicted sex offender Jeffrey Epstein 76 00:04:46,920 --> 00:04:50,799 Speaker 1: and allegations by Virginia Guffray, which he denies, have haunted 77 00:04:50,920 --> 00:04:54,039 Speaker 1: the royal family for years. Andrew has now lost his 78 00:04:54,120 --> 00:04:57,200 Speaker 1: home at Royal Lodge, his military honors and his place 79 00:04:57,279 --> 00:05:00,440 Speaker 1: in the Order of the Garta Andrew Mountbatten w Windsor. 80 00:05:00,640 --> 00:05:03,000 Speaker 1: We'll move to a smaller house on the King's Soundringham 81 00:05:03,040 --> 00:05:05,880 Speaker 1: estate in the English county of Norfolk. His accommodation and 82 00:05:05,920 --> 00:05:09,960 Speaker 1: income will reportedly be privately funded by the King. Observers 83 00:05:09,960 --> 00:05:12,760 Speaker 1: say this is the monarchy drawing a final line under 84 00:05:12,760 --> 00:05:15,760 Speaker 1: one of its darkest scandals. That's it for the Fear 85 00:05:15,760 --> 00:05:18,200 Speaker 1: and Greed Afternoon Report for Friday, the thirty first of 86 00:05:18,240 --> 00:05:21,640 Speaker 1: October twenty twenty five. Follow the podcast and sign up 87 00:05:21,640 --> 00:05:24,719 Speaker 1: for our daily newsletter at Fearangreed dot com dot au. 88 00:05:25,200 --> 00:05:28,080 Speaker 1: Join us tomorrow for the weekend edition, where we wrap 89 00:05:28,200 --> 00:05:30,880 Speaker 1: up the stories of the week. I'm Adam lang Enjoy 90 00:05:30,920 --> 00:05:34,000 Speaker 1: your evening, Happy Halloween everyone, and please have a great weekend.