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

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Speaker 1: for Wednesday, the fifteenth of October twenty twenty five. Michael Thompson.

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Speaker 1: Every afternoon, we've got the five stories that happen today

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Speaker 1: that you need to know about. Let's go a story

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Speaker 1: number one. The S and P ASX two hundred climbed

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Speaker 1: one percent today to eighty nine hundred and ninety points.

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Speaker 1: Ten of the eleven sectors gained ground. It came after

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Speaker 1: a bit of optimism that the US Federal Reserve will

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Speaker 1: cut rates again, perhaps twice this year, although that enthusiasm

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Speaker 1: then was tempered a little bit by more unrest in

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Speaker 1: the trade relationship between the US and China, and that

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Speaker 1: uncertainty led to yet another say it with me record

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Speaker 1: in the price of gold, the precious metal hitting four thousand,

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Speaker 1: one hundred and eighty five US dollars announce. Most of

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Speaker 1: the local gold miners benefited from that one. Today. Elsewhere

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Speaker 1: on the ASX, let me see the banks had a

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Speaker 1: great day. Commonwealth Bank was up one point five percent,

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Speaker 1: NAB nearly two percent, A and Z up zero point

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Speaker 1: five percent. The best was Westpac, though it shot up

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Speaker 1: two percent after APRA removed a five hundred million dollar

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Speaker 1: capital penalty that it had placed on it in the

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Speaker 1: wake of a money laundering scandal. A good day too

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Speaker 1: for the big iron ore miners BHP, Rio Tinto, Fortescue,

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Speaker 1: all up around two percent. One more company worth a mentioned,

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Speaker 1: Telix Pharmaceuticals, shot up more than sixteen percent today after

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Speaker 1: the biotech company upgraded its profit guidance. Plenty going on

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Speaker 1: onto story number two and Commonwealth Bank Chief Executive Matt

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Speaker 1: Common will remain in the top job for at least

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Speaker 1: another three years, according to chairman Paul O'Malley. O'Malley told

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Speaker 1: the bank's annual general meeting today in Brisbane that the

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Speaker 1: decision on common successor would be a matter for the

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Speaker 1: next chair now. O'Malley is seeking re election for a

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Speaker 1: final three year term, which likely then pushes Common's departure

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Speaker 1: out to twenty twenty nine, by which time he will

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Speaker 1: have served eleven years in the role. There's been plenty

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Speaker 1: of speculation around and leadership succession at our biggest bank.

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Speaker 1: It's been swirling for months now. The chair though, added

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Speaker 1: that the board has been pleased with commons performance, perhaps

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Speaker 1: unsurprising given the meteoric rise in the company's share price.

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Speaker 1: In recent years. Story number three, Australia has fallen almost

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Speaker 1: sixty six thousand homes short of the annual pace needed

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Speaker 1: to meet the government's goal of one point two million

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Speaker 1: new homes by twenty twenty nine. Just one hundred and

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Speaker 1: seventy four thousand and thirty new dwellings were built in

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Speaker 1: the year to June. That is a twenty seven percent

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Speaker 1: miss on the first year's target, the weakest results in

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Speaker 1: three years and underlines the difficulty of hitting really what

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Speaker 1: is a very ambitious housing target. Industry groups are calling

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Speaker 1: for urgent reforms to planning, zoning and taxes to speed

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Speaker 1: up construction, saying that without these major policy changes, supply

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Speaker 1: is going to continue lagging well behind demand. For her part,

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Speaker 1: Housing Minister Claire O'Neil has admitted that the target is

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Speaker 1: quote aspirational. Story number four so the Competition Regulator has

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Speaker 1: launched an investigation into Southern Cross Media's proposed merger with

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Speaker 1: seven West Media, warning the deal could reduce competition for

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Speaker 1: advertisers and audiences. The deal would see the owner of

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Speaker 1: the seven network, the West Australian newspaper and other assets

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Speaker 1: joined with the owner of the HIT and Triple M

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Speaker 1: radio networks and other things as well. The arible C

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Speaker 1: says it is examining how closely the two companies compete

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Speaker 1: in areas such as entertainment, sport, news and advertising, and

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Speaker 1: whether the tie up could limit consumer choice, flagging interestingly

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Speaker 1: regional Western Australia as a particular area of concern. Finally,

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Speaker 1: story number five, US President Donald Trump has warned her

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Speaker 1: Mass to disarm as the group faces fresh accusations of

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Speaker 1: violating the Gaza ceasefire deal. A video verified by Reuter's

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Speaker 1: showed her Mask fighters executing a group of men in

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Speaker 1: Gaza City, while Israel accused the group of failing to

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Speaker 1: return the bodies of all hostages. Israel responded to that

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Speaker 1: by harving the number of AID trucks entering Gaza and

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Speaker 1: keeping the Egypt border closed. Trump says that the next

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Speaker 1: phase of his peace plan involves demilitarizing Hamas, offering amnesty

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Speaker 1: to those who disarm, and deploying an international stabilization force.

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Speaker 1: He was questioned about this today and said they're going

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Speaker 1: to disarm because they said they would. He then added

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Speaker 1: that if they don't, we will disarm them. And when

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Speaker 1: asked how that would happen, he said, quickly and perhaps violently.

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Speaker 1: That's it for the afternoon Report for Wednesday, the fifteenth

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Speaker 1: of October twenty twenty five. Make sure you hit follow

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Speaker 1: on the podcast and we'll be back tomorrow morning with

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Speaker 1: the Thursday edition of the Fast five Business News by

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Speaker 1: Fear and Greed by Michael Thompson. Enjoy your eat