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

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Speaker 1: for Tuesday, the seventh of October twenty twenty five. I'm

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Speaker 1: sure in Alma every afternoon we've got the five stories

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Speaker 1: that happened today that you need to know about. Stratumer

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Speaker 1: one Yes and PASX two hundred closed down to zero

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Speaker 1: point three percent today to eight thousand, nine hundred and

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Speaker 1: fifty seven points, with the consumer discretionary sector leading the falls.

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Speaker 1: He came to spite Wall Street hitting record highs this morning.

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Speaker 1: BHP and Rio Tintel outperformed, the banks were mixed. Telstra

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Speaker 1: was lower. In corporate news, Web Travels shares rallied after

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Speaker 1: the hotel aggregated business spun out of Webjet said it

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Speaker 1: was on track to deliver record earnings this fiscal year.

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Speaker 1: Defense tech company droneshel It's been a favorite. It announced

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Speaker 1: it's spending thirteen million dollars to build a new research

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Speaker 1: and development facility in Adelaide and Brisbane. Broncos shares tumbled

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Speaker 1: as investors took profits following the rugby league club's twenty

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Speaker 1: six percent surge yesterday. That was on the back of

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Speaker 1: winning both the NRL and the NRLW. That's the Women's

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Speaker 1: League the Grand finals on Sunday. It's the only publicly

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Speaker 1: listed sports club in Australia. Story number two. Federal Parliament

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Speaker 1: is back in session and Prime Minister Anthony Alberizi started

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Speaker 1: question time by condemning Hamas and paying tribute to the

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Speaker 1: victims of the terrorist group's attack on Israel two years ago. Today,

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Speaker 1: he said Hammas stands in opposition toward humanity and all

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Speaker 1: that we value as human beings. Opposition leader Sais and

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Speaker 1: Lead said Australia has fallen short of its responsibilities to

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Speaker 1: confront anti Semitism and support Israel following the attacks. Story

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Speaker 1: number three. The Prime Minister said he received quite a

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Speaker 1: lovely invitation to meet US President Donald Trump at the

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Speaker 1: White House in October twenty. Speaking to nine's Today program

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Speaker 1: this morning, he said the US is Australia's most important

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Speaker 1: ally and both countries have an important economic relationship also,

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Speaker 1: and of course he mentioned our defense and security relationship.

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Speaker 1: Alberizi said he'd been holding talks on the importance of

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Speaker 1: the Orchest Submarine Pact with his UK counterpart, Keir Starmer,

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Speaker 1: storing Number four. Gold will become Australia's second most valuable

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Speaker 1: commodity export, overtaking liquefied natural gas still behind iron ore.

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Speaker 1: On the back of the precious metal surge, revenues from

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Speaker 1: bullion will jump to sixty billion dollars this financial year,

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Speaker 1: up from forty seven billion dollars last financial year, almost

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Speaker 1: double the level of two years ago, according to the

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Speaker 1: Department of Industry, Science and Resources. The surge will partially

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Speaker 1: offset expected revenue falls in other commodities, including iron or llen.

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Speaker 1: G Demand meanwhile, has softened, in part as crude oil

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Speaker 1: has weakened, while metallurgical coal, another big product we sell

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Speaker 1: plenty of, it's also dropped in value. The price of

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Speaker 1: gold is heading towards four thousand US dollars and ounce,

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Speaker 1: with Goldman Sacks today suggesting it could get to four

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Speaker 1: nine hundred US dollars an ounce. Quite incredible. The run

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Speaker 1: goals going on and story number five. The predancial regulator

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Speaker 1: has told superannuation trustees it will come after their executive

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Speaker 1: hey if the next first Guardian or shield fun collapse

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Speaker 1: happens on their watch. The Australian Financial Regulation Authority today

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Speaker 1: called on super trustees to accelerate and escalate efforts to

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Speaker 1: safeguard members' investments held in platform products as it noted

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Speaker 1: weaknesses observed in its review, including in the onboarding and

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Speaker 1: monitoring of products, as well as remedial action taken by trustees. Now,

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Speaker 1: trustees are bound by the Financial Accountability Regime, which means

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Speaker 1: bonuses can be called back if they fumble their obligations

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Speaker 1: to members. According to report in The Australian, that's it

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Speaker 1: for the Afternoon Report for Tuesday, the seventh of October

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

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Speaker 1: We will be back tomorrow morning with a Wednesday edition

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Speaker 1: off View and Green business News. I'm sure Alma enjoy

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Speaker 1: Reeve