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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 fell thirteen point eight or zero point one

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Speaker 1: five percent, to close at nine thy nineteen points. That's

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Speaker 1: about one percent belode record high of nine thy one

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

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

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Speaker 1: a percent. Energy stocks rose after the United States imposed

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Speaker 1: new sanctions on Russia's major oil producers, which pushed crude

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Speaker 1: prices higher. Miners were mixed. Iron ore ease to around

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Speaker 1: one hundred and five US dollars a ton as Chinese

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Speaker 1: steelmakers cut production because profits are shrinking. Gold miners also

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Speaker 1: lost ground after strong gains earlier in the week. Australian

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

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

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

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

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

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

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

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

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

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Speaker 1: thousand current and former service women could be part of

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Speaker 1: the action. The adf acknowledges there is more work to

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Speaker 1: do and says a new strategy to prevent misconduct is

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Speaker 1: being developed. The case follows a Royal commission that found

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Speaker 1: hundreds of sexual assault complaints happened in recent years. It

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Speaker 1: also revealed that many will that many women still fear

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Speaker 1: reporting incidents. This will be one of the biggest tests

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Speaker 1: of accountability for the military in decades. Story number three.

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Speaker 1: Reserve Bank Governor Michelle Bullock used her brad Field Oration

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

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

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

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

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

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

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

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Speaker 1: technology 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 for ZED Chief executive Shane Eliot has defended

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Speaker 1: the bank's decision to sack trader Etten Alexiu, saying he

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

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

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

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Speaker 1: of the language used by traders, including the phrase slaughter

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

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Speaker 1: The case follows a fifty million dollar settlement A and

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Speaker 1: Z reached with regulators in twenty seventeen. The trial continues

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Speaker 1: story number five Fresh this afternoon. Donald Trump has ended

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Speaker 1: all trade negotiations with Canada after accusing its government of

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Speaker 1: running a fraudulent TV ad about US tariffs. Posting on

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Speaker 1: truth Social this afternoon, Trump said the ad used doctored

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Speaker 1: footage of Ronald Reagan and was egregious behavior intended to

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Speaker 1: influence court decisions. He wrote, quote, all trade negotiations with

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Speaker 1: Canada are hereby terminated unquote. The ad was part of

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Speaker 1: an Ontario government campaign pushing back against US tariff's on

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Speaker 1: Canadian goods. The Reagan Foundation later confirmed the footage was

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Speaker 1: used without permission. Canadian Prime Minister Mark Carney has not

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Speaker 1: yet responded, but the move adds new interest ahead of

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Speaker 1: Trump's upcoming meeting with China's Xijimping in Seoul next week.

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Speaker 1: That's it for the Fear and Greed Afternoon Report for Friday,

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Speaker 1: the twenty fourth of October twenty twenty five. Follow the

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Speaker 1: podcast and sign up for our daily newsletter at Feirnngreed

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Speaker 1: dot com dot au. I'm Adam Lang. Enjoy your evening

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Speaker 1: and please have a great weekend.