1 00:00:04,240 --> 00:00:07,080 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:07,120 --> 00:00:09,600 Speaker 1: for Friday, eighty fourth of October twenty twenty four. I'm 3 00:00:09,600 --> 00:00:12,280 Speaker 1: Sean Elmer. Every afternoon, we've got the five stories that 4 00:00:12,400 --> 00:00:14,520 Speaker 1: happened today that you need to know about. Story number one, 5 00:00:14,560 --> 00:00:17,720 Speaker 1: there's some PASX two hundred closed down zero point seven 6 00:00:17,720 --> 00:00:20,160 Speaker 1: percent today to eight thousand, one hundred and fifty points, 7 00:00:20,560 --> 00:00:24,040 Speaker 1: ending a three week winning streak. Fears about tensions in 8 00:00:24,040 --> 00:00:26,279 Speaker 1: the Middle East dominated training, and for the week, the 9 00:00:26,280 --> 00:00:29,840 Speaker 1: BOSS was down nearly one percent. Minors were hard as 10 00:00:29,840 --> 00:00:32,839 Speaker 1: tip today as enthusiasm about last week's stimulus measures from 11 00:00:32,880 --> 00:00:36,720 Speaker 1: Beijing waned somewhat. BHP and Real Tinto bosdropped close to 12 00:00:36,760 --> 00:00:39,480 Speaker 1: two percent. The banks also fell, with the Big four 13 00:00:39,600 --> 00:00:41,760 Speaker 1: all down around one and a half percent. The techtoks 14 00:00:41,760 --> 00:00:44,440 Speaker 1: were lower, led by Wistech, which ended down three percent, 15 00:00:44,880 --> 00:00:48,600 Speaker 1: and industrial property giant Goodman Group closed two percent lower. 16 00:00:48,960 --> 00:00:51,279 Speaker 1: CSL was an outperformer Best and the day was Light 17 00:00:51,360 --> 00:00:54,600 Speaker 1: and Wonder, which rallied eight percent after the gaming company 18 00:00:54,640 --> 00:00:57,320 Speaker 1: said it intended to develop a new version of its 19 00:00:57,360 --> 00:01:01,840 Speaker 1: popular Dragon Train game following an intellectual property dispute with 20 00:01:01,920 --> 00:01:04,920 Speaker 1: the Aristocrat Leisure Earlier in the year. Story number two. 21 00:01:05,280 --> 00:01:08,160 Speaker 1: Oil prices have been reasonably low in recent months, and 22 00:01:08,200 --> 00:01:10,679 Speaker 1: we've all appreciated that at the petrol bowser, but the 23 00:01:10,720 --> 00:01:13,760 Speaker 1: region provides about one third of the world's oil, and 24 00:01:14,000 --> 00:01:17,120 Speaker 1: prices are rising again. The most recent spike today followed 25 00:01:17,160 --> 00:01:21,639 Speaker 1: US President Joe Biden commenting almost casually that the US 26 00:01:21,680 --> 00:01:26,040 Speaker 1: and Israel had discussed striking Iranian oil fields. That pushed 27 00:01:26,120 --> 00:01:28,720 Speaker 1: up the big oil and gas companies locally, with Woodside 28 00:01:28,720 --> 00:01:32,199 Speaker 1: gaining two point two percent, Santos jumped two point one percent. 29 00:01:32,480 --> 00:01:35,639 Speaker 1: Others to benefit with Viva Energy, Horizon Oil, Strike Energy, 30 00:01:35,680 --> 00:01:39,919 Speaker 1: and Karun Energy. Story number three, related to the earlier story. 31 00:01:39,959 --> 00:01:44,560 Speaker 1: A series of huge explosions rocked densely populated neighborhoods south 32 00:01:44,560 --> 00:01:48,360 Speaker 1: of Beirut overnight as Israel kept up its bombing campaign 33 00:01:48,760 --> 00:01:52,920 Speaker 1: aimed at HEZBLA leaders and weapons stores. Shockwaves short buildings 34 00:01:52,920 --> 00:01:56,320 Speaker 1: across the Lebanese capital, and three Israeli officials told The 35 00:01:56,320 --> 00:01:58,600 Speaker 1: New York Times that the air strikes were intended to 36 00:01:58,680 --> 00:02:02,960 Speaker 1: destroy an underground bunker where senior HESBLA leaders were meeting. 37 00:02:03,240 --> 00:02:06,800 Speaker 1: The explosions came shortly after an Israeli warplane carried out 38 00:02:06,960 --> 00:02:10,440 Speaker 1: an airstrike in the Israeli occupied West Bank in which 39 00:02:10,440 --> 00:02:13,480 Speaker 1: Palestinian health facials set at least eighteen people were killed. 40 00:02:13,800 --> 00:02:16,919 Speaker 1: Israel said it had killed a Hamas commander. Meanwhile, the 41 00:02:16,960 --> 00:02:20,520 Speaker 1: Australian Federal Police, along with every state and territory police force, 42 00:02:20,840 --> 00:02:23,880 Speaker 1: have warned that they will not tolerate violence at pro 43 00:02:24,040 --> 00:02:27,600 Speaker 1: Palestinian rallies that will go ahead over the weekend. Story 44 00:02:27,720 --> 00:02:30,760 Speaker 1: um before Elon Musk and his company X Corp must 45 00:02:30,840 --> 00:02:34,200 Speaker 1: comply with a transparency notice issued by the country's online 46 00:02:34,240 --> 00:02:38,680 Speaker 1: safety watchdog. The Federal Court has ruled X unsuccessfully challenged 47 00:02:38,720 --> 00:02:41,440 Speaker 1: the validity of the notice innaa six hundred and ten 48 00:02:41,520 --> 00:02:45,120 Speaker 1: thousand dollars fine associated with it, but today Judge Michael 49 00:02:45,160 --> 00:02:48,360 Speaker 1: Wheelerhan said that the e Safety Commissioner, Julie Inman Grant 50 00:02:48,400 --> 00:02:51,120 Speaker 1: was right to issue the notice, requiring the platform to 51 00:02:51,200 --> 00:02:54,079 Speaker 1: provide information about how it was meeting the basic online 52 00:02:54,080 --> 00:02:58,079 Speaker 1: safety expectations in relation to child sexual exploitation and abuse 53 00:02:58,160 --> 00:03:01,680 Speaker 1: material and activity hosts on its site. X took the 54 00:03:01,680 --> 00:03:04,280 Speaker 1: Commissioner to court last year, challenging the fine and the 55 00:03:04,360 --> 00:03:07,600 Speaker 1: validity of the notice itself. Brett Walker, sc acting for 56 00:03:07,639 --> 00:03:10,760 Speaker 1: the company argued the notice didn't apply because the company 57 00:03:10,760 --> 00:03:14,000 Speaker 1: didn't exist when the notice was issued. The notice was 58 00:03:14,040 --> 00:03:17,359 Speaker 1: given to Twitter in February twenty twenty three, and Excort 59 00:03:17,440 --> 00:03:20,480 Speaker 1: came into being in March twenty twenty three. XCOP was 60 00:03:20,520 --> 00:03:23,359 Speaker 1: also ordered to pay the EAT Safety Commissioner's costs. This 61 00:03:23,480 --> 00:03:27,040 Speaker 1: case is separate from the ongoing Administrative Appeals Tribunal metal 62 00:03:27,120 --> 00:03:29,320 Speaker 1: concerning a video of the stabbing of a bishop in 63 00:03:29,400 --> 00:03:32,360 Speaker 1: a Western Sydney church and story number five. A strike 64 00:03:32,400 --> 00:03:35,880 Speaker 1: that closed US East in Gulf Coast ports will be 65 00:03:35,920 --> 00:03:38,880 Speaker 1: suspended after the dock Workers' union and the group representing 66 00:03:38,920 --> 00:03:42,720 Speaker 1: ocean carriers reached an agreement overnight. The biggest strike on 67 00:03:42,880 --> 00:03:46,000 Speaker 1: US ports in several decades was threatening to hurt the 68 00:03:46,000 --> 00:03:50,000 Speaker 1: economy ahead of the presidential election. Negotiations, which had been 69 00:03:50,040 --> 00:03:53,880 Speaker 1: at an impass over wages and automation for months, will 70 00:03:53,880 --> 00:03:56,960 Speaker 1: now continue. According to both sides, the work stop each 71 00:03:57,000 --> 00:03:59,600 Speaker 1: had threatened to up end the US economy by starling 72 00:03:59,640 --> 00:04:03,040 Speaker 1: global supply chains and halting imports of fresh foods, pharmaceuticals 73 00:04:03,280 --> 00:04:06,360 Speaker 1: and other consumer goods. According to report in the Financial Times, 74 00:04:06,600 --> 00:04:09,560 Speaker 1: JP Morgan analysts estimated it could cost the US economy 75 00:04:09,600 --> 00:04:11,640 Speaker 1: as much as four and a half billion US dollars 76 00:04:11,680 --> 00:04:14,680 Speaker 1: a day. The three dozen affected ports span from Maine 77 00:04:14,720 --> 00:04:17,680 Speaker 1: to Texas and together handle one quarter of the country's 78 00:04:17,720 --> 00:04:21,600 Speaker 1: annual international trade worth three trillion dollars. US President Joe 79 00:04:21,640 --> 00:04:25,279 Speaker 1: Biden congratulated the Union and the United States Maritime Alliance, 80 00:04:25,520 --> 00:04:28,039 Speaker 1: which represents the carriers, on the deal, saying in a 81 00:04:28,040 --> 00:04:31,599 Speaker 1: statement that it represents critical progress towards a strong contract. 82 00:04:32,120 --> 00:04:34,240 Speaker 1: That's it for the Afternoon Report for Friday, the fourth 83 00:04:34,240 --> 00:04:36,480 Speaker 1: of October twenty twenty four. Don't forget tit. Follow on 84 00:04:36,520 --> 00:04:39,600 Speaker 1: the podcast and find Fear and Greed on LinkedIn, Instagram, 85 00:04:39,760 --> 00:04:42,159 Speaker 1: x TikTok and Facebook. Join Michael Thompson and I tomorrow 86 00:04:42,160 --> 00:04:44,400 Speaker 1: morning for the weekend Fast five by Fear and Greed. 87 00:04:44,600 --> 00:04:46,520 Speaker 1: I'm Seane Elma. Enjoy your reading.