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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Monday, the first of September twenty twenty five. Are

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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: with story number one. The S and p ASX two

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Speaker 1: hundred fell half of one percent today to eighty nine

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Speaker 1: hundred and twenty eight points. That is a two week low.

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Speaker 1: Investors have been a little spooked, it seems by comments

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Speaker 1: from the US President Donald Trump suggesting really that there's

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Speaker 1: no inflation in the US the prices are low, putting

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Speaker 1: more pressure on the FED to cut rates now. Analysts

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Speaker 1: say that investors are worried about the fed's independence and

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Speaker 1: are heading for safe haven assets, namely gold. As a result,

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Speaker 1: of course, the gold price was up and the gold

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Speaker 1: miners too. They saw the benefits. Neumont up three point

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Speaker 1: one percent today, Northern Star up six point four percent,

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Speaker 1: Capricorn Metals and Genesis Minerals both up more than eleven percent.

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Speaker 1: The banks were all off, but by less than one percent.

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Speaker 1: The big miners were down two as iron ore prices fell,

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Speaker 1: and tech was the worst performing sector on the local

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Speaker 1: boss with Cloud Accounting Group zero off more than four percent.

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Speaker 1: Retailer Harvey Norman, though had a cracker of a day

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Speaker 1: up more than eight percent after last week's strong earnings

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Speaker 1: and pretty positive outlook onto story number two now and

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Speaker 1: a landmark government study has confirmed that it is technically

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Speaker 1: possible to verify the age of social media users, but

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Speaker 1: warns that leaving it to platforms could mean messy, inconsistent outcomes.

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Speaker 1: The report, which has published one hundred days before Labour's

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Speaker 1: ban on under sixteen's takes effect, found a range of

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Speaker 1: methods could work, everything from government iddchecks to parental approval

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Speaker 1: to emerging AI tools that estimate age using faces or behavior,

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Speaker 1: but every approach has risks from privacy concerns through the

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Speaker 1: reliability issues kind of giving a margin of a couple

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Speaker 1: of years either side. Communications Minister Anika Wells says it

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Speaker 1: proves platforms have the two rules to better protect children,

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Speaker 1: though no single solution is going to be mandated. Instead,

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Speaker 1: companies will need to show they are taking quote reasonable

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Speaker 1: steps to keep under sixteens off their platforms. Experts are

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Speaker 1: still warning, of course, of false positives and privacy pitfalls

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Speaker 1: and the risk that kids will simply find a way

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Speaker 1: around the rules. Story number three now and Bob Catter,

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Speaker 1: the Independent MP, has doubled down after threatening to punch

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Speaker 1: a nine News journalist who asked about his Lebanese heritage,

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Speaker 1: saying his only regrets was not being more aggressive. The

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Speaker 1: eighty year old MP waved his fists at reporter Josh

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Speaker 1: Bavas last week during really what was a very fiery

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Speaker 1: press conference on immigration, later branding him during the confrontation

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Speaker 1: a racist that prompted bipartisan condemnation from Anthony Albanesi, from

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Speaker 1: the Coalition and from Crossbandchampees. Nine Entertainment has demanded an

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Speaker 1: apology and is considering defamation action. We knew that late

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Speaker 1: last week, but today Bob that has insisted that he

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Speaker 1: deserves an apology, warning that he hopes he doesn't quote

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Speaker 1: run across Bavas again. So far, no moves have been

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Speaker 1: made in Parliament to formally censure the veteran MP. Story

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Speaker 1: number four. South Australia has become the first jurisdiction in

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Speaker 1: the world to ban fish shaped soy sauce containers as

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Speaker 1: part of its ongoing phase out of single use plastics.

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Speaker 1: We all know the little sushi fish from the first

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Speaker 1: of September twenty twenty five. From today, small plastic containers

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Speaker 1: under thirty mills are outlawed, and so this band also

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Speaker 1: then includes plastic cutlery and expanded polystyrene food packaging. Those

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Speaker 1: sachets remain permitted, so there are some little exceptions to it.

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Speaker 1: The state's Environment Minister, Doctor Susan Close said, the tiny

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Speaker 1: dispenses the soy sauce dispenses are a common form of litter.

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Speaker 1: They are easily washed into waterways and mistaken for food

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Speaker 1: by marine life. Little wonder they are shaped like fish. Now.

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Speaker 1: In two thousand and nine, South Australia became the first

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Speaker 1: state to ban lightweight plastic shopping bags. Ban the sale

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Speaker 1: or distribution of plastic straws, cutlery or drinkster is in

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Speaker 1: twenty twenty one. South Australia does have a tendency of

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Speaker 1: setting a precedent here, so I suspect we could be

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Speaker 1: seeing this elsewhere in the country soon as well. Finally,

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Speaker 1: story number five, at least five hundred people have been

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Speaker 1: killed and more than one thousand injured after a powerful

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Speaker 1: six point zero magnitude earthquake struck eastern Afghanistan. The quake

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Speaker 1: hit overnight near Jalalabad, which is a city of about

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Speaker 1: three hundred thousand people. A lot of the buildings they

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Speaker 1: are poorly built. The worst damages in two provinces where

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Speaker 1: landslides are cutting off roads, forcing rescuers to rely on helicopters.

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Speaker 1: Authorities say that the death toll is actually likely to

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Speaker 1: rise as teams reach remote villages. A second quake of

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Speaker 1: four point five magnitude followed soon after. Afghanistan sits on

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Speaker 1: a major fault line. It has suffered a series of

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Speaker 1: deadly quakes in recent years. That's it for the afternoon

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Speaker 1: report for Monday, the first of September twenty twenty five.

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Speaker 1: Make sure you hit follow on the podcast and we'll

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Speaker 1: be back tomorrow morning with the Tuesday edition of the

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Speaker 1: Fast five Business News By Fear and Great Are Michael Thompson.

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Speaker 1: Enjoy your evening.