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Speaker 1: Welcome to Fear and Greed Business News Afternoon Report for Thursday,

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Speaker 1: the thirtieth of October twenty twenty five. I'm sure, alma.

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Speaker 1: Every afternoon we bring you the five big stories that

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Speaker 1: happened today that you need to know about. Story number one.

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Speaker 1: The S and p ASX two hundred closed down half

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Speaker 1: a percent to eight hundred and eighty six points, with

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Speaker 1: talks of interest rate cuts off the table for this year.

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Speaker 1: Intrastrate sensitive stocks were under pressure, with the property companies

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Speaker 1: being sold down. Consumer discretionary stocks were also sold off,

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Speaker 1: with West Farmers off more than seven percent after a

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Speaker 1: disappointing trading outlook among the best performers, with the lithium

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Speaker 1: companies after being upgraded by investment analysts. And there was

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Speaker 1: finally some good news for ceas Sell shareholders with its

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Speaker 1: share price jumping more than five percent. In corporate news,

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Speaker 1: James Hardy chair Ann Lloyd has been ousted by shareholders

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Speaker 1: at its AGM this morning following its fourteen billion dollar

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Speaker 1: merger with US building materials group Azek. Plenty more of

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Speaker 1: that on that one Tomorrow Morning show. And Cole's reported

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Speaker 1: near five percent sales growth for the September quarter. Outpacing Woolies.

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Speaker 1: We'll be talking about that one tomorrow morning as well.

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Speaker 1: Storry number two. In Canberra, the Albanezy government has threatened

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Speaker 1: to remove opposition MPs from Senior Committee positions in retaliation

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Speaker 1: for the Coalition backing a push to add five questions

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Speaker 1: to Senate question time. For the foreseeable future, question time

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Speaker 1: in the Upper House will run thirty minutes longer than

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Speaker 1: its usual sixty minutes after the Coalition, Greens and Cross

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Speaker 1: Bench backed the proposal put forward by act Independent Senator

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Speaker 1: David Pocock. It's all come from Pocock unsuccessfully trying to

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Speaker 1: access the report into government board appointments. While that report

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Speaker 1: was received two years ago, Finance Minister Katie Gallagher has

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Speaker 1: never released it. Pocock this week sought to add five

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Speaker 1: additional non government questions to the Senate's question time. In response,

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Speaker 1: he was supported by everyone but Labor. That's now got

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Speaker 1: enough up Labour's nose. Well seems a bit childish to me, really.

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Speaker 1: Story number three in battled Minor Mineral Resources today said

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Speaker 1: it won't have to sell us lithium assets given an

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Speaker 1: improved balance sheet and cashflow. The Minor share price jumped

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Speaker 1: fourteen percent today best on the ASX two hundred, after

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Speaker 1: a better than expected September quarter result thanks to record

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Speaker 1: iron ore shipments that came after the group made costly

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Speaker 1: repairs to erode out of its flagship Onslow iron ore project,

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Speaker 1: which had an unfortunate record and reputation of causing crashes

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Speaker 1: for jumbo trucks. Anyway, that seems to be fixed. Chief

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Speaker 1: financial officer Mark Wilson said Minres's stronger financial position meant

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Speaker 1: that lithium assets sales were not necessary to bolster its

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Speaker 1: balance sheet. Sorry number four in corporate news, Zampole said

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Speaker 1: refining margins were higher, as were earnings in the first quarter.

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Speaker 1: They would also experienced a temporary production hit two two

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Speaker 1: delays at its Litton refinery. White Haven chairman Mark Vale

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Speaker 1: said he will likely step down at the end of

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Speaker 1: his current term. My you, that's still got two years

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Speaker 1: to run. AI Software group Appen reported a strong September quarter,

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Speaker 1: with sales in China offsetting volatively. In the US. Retailer

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Speaker 1: Universal Store reported a big jump in sales, and Linus

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Speaker 1: Rare Earths posted strong sales revenue for the September quarter. Finally,

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Speaker 1: story number five, the US Federal Reserve cut interest rates

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Speaker 1: this morning, but Chair Jerome Power made it very clear

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Speaker 1: that another reduction is not a foregone conclusion. The EFFED

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Speaker 1: is battling a slower labor market and signs of a

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Speaker 1: re emergence of inflation, not helped by Donald Trump's tariffs. Unusually,

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Speaker 1: there were two dissenters from the Fed decision within the board.

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Speaker 1: One wanted no rate cut, another a Trump appoint ee

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Speaker 1: what at a fifty basis point cut. It was only

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Speaker 1: the fourth meeting in twenty five years where there's been

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Speaker 1: multiple dissenters from the decision. Power is pretty clear that

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Speaker 1: it's hard to read the economy right now, which meant

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Speaker 1: predicting another rate cut is problematic, or has he put it,

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Speaker 1: if you're driving in the fog, you slow down fair enough.

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Speaker 1: That's it for the Afternoon Report for Thursday, the thirtieth

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Speaker 1: of October twenty twenty five. Make sure you hit follow

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Speaker 1: on the podcast and head along to Fearangreed dot com.

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Speaker 1: Tod a you to sign up for our free daily

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Speaker 1: newsletter and go into the drawer to win Fear and

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Speaker 1: Greed merchandise. I'm sure elmer and enjoy readninking