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

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Speaker 1: the thirty first of October twenty twenty five. I'm Adam Lane.

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

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Speaker 1: for Halloween tonight and for the weekend. The S and

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Speaker 1: p ASX two hundred closed at eighty eight hundred and

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Speaker 1: eighty two. That's down four points today and one point

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Speaker 1: five percent lower for the week. Banks were mixed to

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Speaker 1: the Commonwealth Bank rows one percent. Westpac also gained one percent,

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Speaker 1: while the Ainz slipped zero point six and NAB was flat.

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Speaker 1: Retail lagged, with JB High Fly down three percent and

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Speaker 1: West Farmers down two percent. Gold is trading just below

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Speaker 1: US four thousand and ounce. Northern Star rose three percent,

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Speaker 1: Evolution four percent, New Mount three percent, and West Gold

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Speaker 1: five percent, and Regis five percent higher. Linus added three percent.

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Speaker 1: All up there. Week spots included broke a Steadfast Group

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Speaker 1: down ten percent and Drone Shield down six percent. On

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Speaker 1: Wall Street, Meta platform WM's, owner of Facebook and Instagram,

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Speaker 1: dropped eleven percent after warning of higher artificial intelligence spending

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Speaker 1: and a tax charge. Brent Krute is near US sixty

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Speaker 1: four dollars a barrel and the Australian dollar is buying

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Speaker 1: about US sixty five cents. Story Number two. ANZ says

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Speaker 1: its full year results will take a one point one

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Speaker 1: billion after tax hit as new chief executive Nuno Matos

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Speaker 1: continues to drive change at the bank. The charges include

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Speaker 1: the cost of cutting around three thousand, five hundred jobs,

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Speaker 1: a two hundred and forty million dollar fine from the

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Speaker 1: corporate regulator ASSEK for misreporting bond trades and misconduct in

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Speaker 1: the retail division, as well as another thirty one million

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Speaker 1: dollars in related costs. Nuno Matos is also accelerating the

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Speaker 1: integration of Suncourt Bank to June twenty twenty seven, adding

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Speaker 1: a sixty eight million dollar after tax charge for the

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Speaker 1: promise of simpler operations. There are also rideoffs linked to

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Speaker 1: cash rewards and the bank's investment in Indonesia's Panninbank. Altogether,

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Speaker 1: the charges will trim an z's core capital ratio by

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Speaker 1: nineteen basis points, which is a slight dip in the

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Speaker 1: key measure of financial strength, but analysts say it remains

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Speaker 1: well above regulatory requirements. The annual results due November ten,

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Speaker 1: will be Ninomattos first as chief executive, a and z

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Speaker 1: shares were zero point four percent lower. Story number three.

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Speaker 1: Opposition Liberal Party's firm commitment to net zero missions by

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Speaker 1: twenty fifty is on shaky ground. After a lengthy backbench

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Speaker 1: meeting in Canberra today, Liberal MPs agreed that Australia should

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Speaker 1: continue to cut emissions, but not at any cost. Some

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Speaker 1: conservatives want to drop the term net zero and remove

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Speaker 1: the twenty fifty target altogether, while moderates worn that could

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Speaker 1: alienate urban voters. Opposition energy spokesman Dan Teen said the

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Speaker 1: party is working hard towards a unified position focused on

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Speaker 1: affordability and energy reliability, while Opposition leader Susan Lay insisted

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Speaker 1: she won't accept net zero at any cost. The coalition

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Speaker 1: plans to finalize its climate policy six to nine months

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Speaker 1: after the next federal election, leaving business uncertain about future

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Speaker 1: carbon targets and transition settings. Story number four. Sleep apnea

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Speaker 1: device maker ResMed, led by chief executive Mic Farrell, announced

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Speaker 1: today that it will open a new manufacturing facility in

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Speaker 1: Indianapolis in twenty twenty seven. The plant will double res

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Speaker 1: Med's US production capacity and extend beyond masks and motors

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Speaker 1: into full device manufacturing. Farrell says The move supports President

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Speaker 1: Trump's Made in America agenda and reflects lessons from pandemic

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Speaker 1: supply chain shocks. It's part of resmed's plan to expand

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Speaker 1: US manufacturing by twenty thirty while continuing to develop digital

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Speaker 1: sleep monitoring tools. The Indianapolis facility will be smaller than

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Speaker 1: resmed's major sites in Singapore and Sydney, but will add

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Speaker 1: capacity close to its largest market. Quarterly revenue rows nine

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Speaker 1: percent to one point three bus in US dollars, profit

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Speaker 1: climbed twelve percent to three hundred and forty eight million,

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Speaker 1: and shares rose nearly two percent. On the news story

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Speaker 1: number five, the Royal family has taken unprecedented action against

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Speaker 1: Prince Andrew, stripping him of every royal and noble title

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Speaker 1: and evicting him from his home at Windsor. He will

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Speaker 1: now benign simply as Andrew Manbatan Windsor, making the final

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Speaker 1: fall from grace for the former Duke of York. In

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Speaker 1: a statement issued from Buckingham Palace at six am today

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Speaker 1: Eastern Standard time, King Charles and Queen Camilla said their

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Speaker 1: sympathies will remain with the victims and survivors of any

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Speaker 1: and all forms of abuse. Andrew's ties to convicted sex

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Speaker 1: offender Jeffrey Epstein, and allegations by Virginia Guffray, which he denies,

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Speaker 1: have haunted the royal family for years. Andrew has now

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Speaker 1: lost his home at Royal Lodge, his military honors, and

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Speaker 1: his place in the Order of the Garta. Andrew Mountbatten

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Speaker 1: Windsor will move to a smaller house on the King's

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Speaker 1: Sundringams state and the English County of Norfolk. His accommodation

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Speaker 1: and income will reportedly be privately funded by the King.

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Speaker 1: Observers say this is the monarchy drawing a final line

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Speaker 1: under one of its darkest scandals. That's it for the

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Speaker 1: Fear and Greed Afternoon Report for Friday, the thirty first

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Speaker 1: of October twenty twenty five. Follow the podcast and sign

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Speaker 1: up for our daily newsletter at Fearangreed dot com dot au.

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Speaker 1: Join us tomorrow for the weekend edition, where we wrap

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Speaker 1: up the stories of the week. I'm Adam lang Enjoy

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Speaker 1: your evening, Happy Halloween everyone, and please have a great weekend.