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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 fifteenth of October twenty twenty five, Am

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Speaker 1: Michael Thompson. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about. Let's go

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Speaker 1: a story number one. The S and p ASX two

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Speaker 1: hundred climbed one percent today to eighty nine hundred and

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Speaker 1: ninety points. Ten of the eleven sectors gained ground. It

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Speaker 1: came after a bit of optimism that the US Federal

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Speaker 1: Reserve will cut rates again, perhaps twice this year, although

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Speaker 1: that enthusiasm then was tempered a little bit by more

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Speaker 1: unrest in the trade relationship between the US and China,

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Speaker 1: and that uncertainty led to yet another say it with

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Speaker 1: me record in the price of gold, the precious metal

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Speaker 1: hitting four thousand, one hundred and eighty five US dollars announce.

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Speaker 1: Most of the local gold miners benefited from that one. Today.

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Speaker 1: Elsewhere on the ax, let me see the banks had

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Speaker 1: a great day. Comwealth Bank was up one point five percent,

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Speaker 1: NAB nearly two percent, v A and Z up zero

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Speaker 1: point five percent. The best was Westpac, though it shot

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Speaker 1: up two percent after APRA removed a five hundred million

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Speaker 1: dollar capital penalty that it had placed on it in

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Speaker 1: the wake of a money laundering scandal. A good day

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Speaker 1: too for the big iron ore miners BHP, Rio Tinto, Fortescue,

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Speaker 1: all up around two percent. One more company worth a mentioned,

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Speaker 1: Telix Pharmaceuticals, shot up more than sixteen percent today after

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Speaker 1: the biotech company upgraded its profit guidance. Plenty going on

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Speaker 1: under story number two and Commonwealth Bank Chief Executive Matt

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Speaker 1: Common will remain in the top job for at least

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Speaker 1: another three years, according to Chairman Paul O'Malley. O'Malley told

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Speaker 1: the bank's annual general meeting today in Brisbane that the

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Speaker 1: decision on common successor would be a matter for the

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Speaker 1: next chair now. O'Malley is seeking re election for a

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Speaker 1: final three year term, which likely then pushes Common's departure

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Speaker 1: out to twenty twenty nine, by which time he will

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Speaker 1: have served eleven years in the role. There's been plenty

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Speaker 1: of speculation around leaderships succession at our biggest bank. It's

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Speaker 1: been swirling for months now. The chair though, added that

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Speaker 1: the board has been pleased with commons performance, perhaps unsurprising

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Speaker 1: given the meteoric rise in the company's share price in

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Speaker 1: recent years. Story number three. Australia has fallen almost sixty

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Speaker 1: six thousand homes short of the annual pace needed to

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Speaker 1: meet the government's goal of one point two million new

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Speaker 1: homes by twenty twenty nine. Just one hundred and seventy

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Speaker 1: four thousand and thirty new dwellings were built in the

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Speaker 1: year to June. That is a twenty seven percent miss

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Speaker 1: on the first year's targets, the weakest result in three

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Speaker 1: years and underlines the difficulty of hitting really what is

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Speaker 1: a very ambitious housing target. Industry groups are calling for

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Speaker 1: urgent reforms to planning, zoning and taxes to speed up construction,

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Speaker 1: saying that without these major policy changes, supply is going

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Speaker 1: to continue lagging well behind demand. For her part, Housing

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Speaker 1: Minister Claire O'Neil has admitted that the target is quote aspirational.

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Speaker 1: Story number four. The Competition Regulator has launched an investigation

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Speaker 1: into Southern Cross Media's proposed merger with seven West Media,

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Speaker 1: warning the deal could reduce competition for advertisers and audiences.

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Speaker 1: The deal would see the owner of the seven network,

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Speaker 1: the West Australian newspaper and other assets joined with the

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Speaker 1: owner of the HIT and Triple M radio networks and

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Speaker 1: other things as well. The Ahrible C says it is

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Speaker 1: examining how closely the two companies compete in areas such

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Speaker 1: as entertainment, sport, news and advertising, and whether the tie

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Speaker 1: up could limit consumer choice, flagging interestingly regional Western Australia

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Speaker 1: as a particular area of concern. Finally, story number five,

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Speaker 1: US President Donald Trump has warned her Mass to disarm

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Speaker 1: as the group faces fresh accusations of violating the Gaza

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Speaker 1: ceasefire deal. A video verified by Reuter's showed her Mask

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Speaker 1: fighters executing a group of men in Gaza City, while

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Speaker 1: Israel accused the group of failing to return the bodies

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Speaker 1: of all dead hostage. Israel responded to that by harving

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Speaker 1: the number of AID trucks entering Gaza and keeping the

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Speaker 1: Egypt border closed. Trump says that the next phase of

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Speaker 1: his peace plan involves demilitarizing Hamas, offering amnesty to those

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Speaker 1: who disarm, and deploying an international stabilization force. He was

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Speaker 1: questioned about this today and said they're going to disarm

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Speaker 1: because they said they would. He then added that if

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Speaker 1: they don't, we will disarm them. And when asked how

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Speaker 1: that would happen, he said quickly and perhaps violently. That's

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Speaker 1: it for the Afternoon Report for Wednesday, the fifteenth of

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

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Speaker 1: the podcast and we'll be back tomorrow morning with the

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Speaker 1: Thursday edition of Fear and Greed. A'm Michael Thompson. Enjoy

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Speaker 1: your evening,