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

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Speaker 1: the sixth of November. I'm Michael Thompson, and every afternoon

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Speaker 1: we bring you the five stories that happened today that

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Speaker 1: you need to know about. Let's go with story number one.

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Speaker 1: The S and p ASX two hundred closed zero point

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Speaker 1: three percent higher today to eight hundred and twenty eight points.

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Speaker 1: Six of the eleven sectors on the BOSS gained ground,

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Speaker 1: led today by the miners. Gold miners had a cracker

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Speaker 1: of a day after investors jumped back into the precious metal.

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Speaker 1: The gold price is currently sitting just a touch under

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Speaker 1: four thousand US dollars. Announce both Newmont and Northern Star

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Speaker 1: climbed almost three percent, Evolution almost four percent, Romelius Resources

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Speaker 1: up five point six percent. The iron ore giants all climbed,

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Speaker 1: even though the price of iron ore actually fell for

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Speaker 1: a sixth day in a row. It was a bit

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Speaker 1: of a mixed day for the banks, though National Australia

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Speaker 1: Banks share price slumped three point three percent after reporting

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Speaker 1: weaker than expected full year earnings of seven point h

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Speaker 1: nine billion dollars. We will have more on this one

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Speaker 1: in Fear and Greed tomorrow morning, including an interview with

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Speaker 1: NAB CEO Andrew Irvine in the main fear and greed feed.

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Speaker 1: Westpac lost ground as well today, down one point two percent,

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Speaker 1: while Comwealth Bank was up one point three percent. One

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Speaker 1: more company to mention and that is James Hardy. The

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Speaker 1: worst on the burs today it was almost thirteen percent

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Speaker 1: down after a very tumultuous day that saw an even

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Speaker 1: bigger plunge early on before the company went into a

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Speaker 1: trading halt. The building materials company says that the sell

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Speaker 1: off was due to index changes. It resumed trading still

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Speaker 1: thirteen percent down for the day.

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Speaker 2: Not a great day. Onto story number two and there

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Speaker 2: is plenty of corporate news around. Revel's share price jumped

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Speaker 2: after the appliance make of reassured investors about trading conditions.

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Speaker 2: It said it will have moved almost all of its

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Speaker 2: production bound for the US out of China by the

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Speaker 2: end of the year. Packaging group Amcor's share price jumped

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Speaker 2: about five percent after reporting better than expected September quarter earnings.

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Speaker 2: Tab Corp fell as the gambling business revealed that the

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Speaker 2: country's third largest superannuation fund, Aware super ceased to be

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Speaker 2: a substantial shareholder on November three, and in what's likely

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Speaker 2: to be seven West Media's final annual meeting. The group

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Speaker 2: has been hit with a strike against its remuneration report,

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Speaker 2: a shareholders express frustration at no dividends for years, and

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Speaker 2: a declining share price. The group is set to be

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Speaker 2: taken over by Southern Cross Media. Story number three Quantus

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Speaker 2: chair John Mullen says he intends to reduce his board commitments,

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Speaker 2: prompting speculation that he could step down from Treasury Wine Estates,

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Speaker 2: which is one of three major ASX listed companies that

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Speaker 2: he chairs. Mullen, who also Shaires Brambles and sits on

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Speaker 2: the board of Brookfield Infrastructure, told Vess that he's been

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Speaker 2: working to scale back his workload, but it's quote taking

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Speaker 2: longer than expected. He's faced pressure from governance advisors, who

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Speaker 2: argue the holding three public company chairmanships as too many.

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Speaker 2: It may well come up tomorrow when Quantus holds its AGM,

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Speaker 2: although much of the focus will be on executive remuneration

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Speaker 2: after a major cyber attack this year. Story number four.

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Speaker 2: Bank bosses across the country have been told to check

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Speaker 2: their work from home rules after Westpac lost a landmark

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Speaker 2: case over its policy requiring staff to be in the

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Speaker 2: office two days a week. The finance sector union has

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Speaker 2: today written to major banks warning they could be breaking

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Speaker 2: the law if they reject flexible work requests without proper consultation.

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Speaker 2: The Fair Work Commission found Westpac had breached the Fairwork

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Speaker 2: Act when it denied a long serving employee's request to

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Speaker 2: work remotely to help with school drop offs, saying the

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Speaker 2: bank failed to justify its decision. Westpac CEO Anthony Miller

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Speaker 2: says he still believes two days a week in the

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Speaker 2: office is the right policy, arguing that it helps collaboration

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Speaker 2: and fairness for branch staff. But the union says the

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Speaker 2: ruling sets an important precedent and shows that banks can't

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Speaker 2: quote hide behind buzzwords like collaboration or culture to deny

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Speaker 2: flexible work arrangements. And finally, story number five an update

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Speaker 2: on a story we talked about yesterday. Federal air crash

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Speaker 2: investigators are combing through maintenance logs for a UPS cargo

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Speaker 2: plane after finding one of the aircraft's engines fell off

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Speaker 2: during takeoff. At least twelve people have died now in

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Speaker 2: the crash in Louisville in Kentucky. Early findings show The

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Speaker 2: left wing caught fire as the MD eleven rolled down

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Speaker 2: the runway with one engine detaching, the aircraft still took

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Speaker 2: off before crashing into nearby businesses and exploding. Nearly twenty

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Speaker 2: people were injured, several remain missing. The UPS Worldport Hub,

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Speaker 2: which is the company's largest global distribution center, remains shut down.

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Speaker 2: That is it for the afternoon report for Thursday, the

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Speaker 2: sixth of November. Make sure you hit follow on the

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Speaker 2: podcast and head along the Fear and Greed dot Com.

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Speaker 2: Today you and sign up for our free daily newsletter.

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Speaker 2: I'm Michael Thompson. Enjoy your evening.