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Speaker 1: Welcome to the Fear and Greed Afternoon Report for Friday,

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Speaker 1: the twenty fourth of October twenty twenty five. I'm Adam Lang.

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Speaker 1: Here are the five business stories you need to know

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Speaker 1: as the week winds down. Story number one. The ASEX

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Speaker 1: dips for the day, but up for the week. It

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Speaker 1: slipped slightly to end the week. The S and PASEX

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Speaker 1: two hundred and fell thirteen point eight or zero point

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Speaker 1: one five percent to close at niney nineteen points. That's

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Speaker 1: about one percent belides record high of niney one hundred

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Speaker 1: and nine points set on the sixteenth of October. For

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Speaker 1: the week, the index still gained a quarter of a percent.

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Speaker 1: Energy stocks rose after the United States imposed new sanctions

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Speaker 1: on Russia's major oil producers, which pushed crude prices higher.

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Speaker 1: Miners were mixed. Iron ore ease to around one hundred

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Speaker 1: and five US dollars a ton as Chinese steelmakers cut

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Speaker 1: production because profits are shrinking. Gold miners also lost ground

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Speaker 1: after strong gains earlier in the week. The Australian dollar

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Speaker 1: is steady near sixty five usns as investors look ahead

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Speaker 1: to next week's Federal Reserve meeting, which is on October

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Speaker 1: twenty eight and twenty nine. Any change in the tone

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Speaker 1: from the Fed could influence global markets and set the

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Speaker 1: mood for local trading. Next week, story number two, the

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Speaker 1: Australian Defense Force is facing a major class action over

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Speaker 1: claims of sexual violence, harassment and discrimination. Four lead applicants

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Speaker 1: have filed a case in the Federal Court, supported by

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Speaker 1: law firm JGA Sadler. They say up to twenty thousand

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Speaker 1: current and former service women could be part of the action.

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Speaker 1: The adf acknowledges there is more work to do and

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Speaker 1: says a new strategy to prevent misconduct is being developed.

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Speaker 1: The case follows a Royal commission that found hundreds of

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Speaker 1: sexual assault complaints happened in recent years. It also revealed

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Speaker 1: that many will that many women still fear reporting incidents.

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Speaker 1: This will be one of the biggest tests of accountability

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Speaker 1: for the mill military in decades. Story number three. Reserve

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Speaker 1: Bank Governor Michelle Bullock used her brad Field Oortion speech

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Speaker 1: in Sydney to attack stamp duty and warn about new

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Speaker 1: risks to Australia's payment system. She described stamp duty as

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Speaker 1: a quote tax on mobility unquote that locks people into

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Speaker 1: homes that no longer suit their needs. Bullock said this

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Speaker 1: is adding pressure to Australia's housing shortage and limiting flexibility

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Speaker 1: in the workforce. She also warned that banks need to

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Speaker 1: upgrade encryption before the arrival of quantum computing. That technology

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Speaker 1: could break today's data protection in minutes instead of centuries,

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Speaker 1: posing a serious threat to global payments. Bullock also urged

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Speaker 1: the financial sector to adopt quantum safe encryption standards and

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Speaker 1: said the entire economy must prepare for the challenge. Her

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Speaker 1: message was clear, fixed housing policy, reform taxes and secure

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Speaker 1: the nation's digital infrastructure. It was a big speech. Story

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Speaker 1: Number four. Former an Z she executive Shane Elliott has

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Speaker 1: defended the bank's decision to sack trader ETTN Alexiu, saying

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Speaker 1: he blatantly breached the bank's code of conduct. Alexiu claimed

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Speaker 1: he was punished for whistlebling on rate rigging allegations more

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Speaker 1: than a decade ago. Elliot told the Federal Court that

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Speaker 1: some of the languages used by traders, including the phrase

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Speaker 1: slaughter the rate set, was unacceptable, but said the dismissal

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Speaker 1: was fair. The case follows a fifty million dollar settlement

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Speaker 1: A and Z reached with regulators in twenty seventeen, The

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Speaker 1: trial continues story number five Fresh this afternoon. Donald Trump

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Speaker 1: has ended all trade negotiations with Canada after accusing its

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Speaker 1: government of running a fraudulent TV ad about US tariff's

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Speaker 1: posting on True Social this afternoon, Trump said the ad

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Speaker 1: used doctored footage of Ronald Reagan and was egregious behavior

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Speaker 1: intended to influence court decisions. He wrote, quote, all trade

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Speaker 1: negotiations with Canada are hereby terminated unquote. The ad was

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Speaker 1: part of an Ontario government campaign pushing back against US

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Speaker 1: tariffs on Canadian goods. The Reagan Foundation later confirmed the

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Speaker 1: footage was used without permission. Canadian Prime Minister Mark Carney

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Speaker 1: has not yet responded, but the move adds new interest

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Speaker 1: ahead of Trump's upcoming meeting with China's Xijimping in Seoul

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Speaker 1: next week. That's it for the Fear and Greed Afternoon

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Speaker 1: Report for Friday, the twenty fourth of October twenty twenty five.

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Speaker 1: Follow the podcast and sign up for our daily newsletter

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Speaker 1: at Feirnngreed dot com dot au. I'm Adam lang. Enjoy

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Speaker 1: your evening and please have a great weekend.