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

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Speaker 1: for Tuesday, the seventh of October twenty twenty five. I'm

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Speaker 1: suan Alma. Every afternoon, We've got the five stories that

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Speaker 1: happened today that you need to know about. Story number one. Yes,

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Speaker 1: and PASX two hundred closed down to zero point three

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Speaker 1: percent today to eight thousand, nine hundred and fifty seven points,

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Speaker 1: with the consumer discretionary sector leading the falls. It came

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Speaker 1: to spite Wall Street hitting record highs this morning. BHP

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Speaker 1: and Rio Tintel outperformed. The banks were mixed. Telstra was lower.

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Speaker 1: In corporate news, Web Travels shares rallied after the hotel

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Speaker 1: aggregated business spun out of Webjet said it was on

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Speaker 1: track to deliver record earnings this fiscal year. Defense tech

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Speaker 1: company droneshell It's been a favorite. It announced it's spending

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Speaker 1: thirteen million dollars to build a new research and development

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Speaker 1: facility in Adelaide and Brisbane. Broncos shares tumbled as investors

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Speaker 1: took profits following the rugby league club's twenty six percent

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Speaker 1: surge yesterday. That was on the back of winning both

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Speaker 1: the n and the NRLW. That's the Women's League the

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Speaker 1: Grand finals on Sunday. It's the only publicly listed sports

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Speaker 1: club in Australia. Story number two. Federal Parliament is back

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Speaker 1: in session and Prime Minister Anthony Alberizi started question time

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Speaker 1: by condemning Hamas and paying tribute to the victims of

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Speaker 1: the terrorist group's attack on Israel two years ago. Today,

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Speaker 1: he said Hamas stands in opposition to all humanity and

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Speaker 1: all that we value as human beings. Opposition leader Sais

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Speaker 1: and Lead said Australia has fallen short of its responsibilities

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Speaker 1: to confront anti Semitism and support Israel following the attacks.

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Speaker 1: Story number three. The Prime Minister said he received quite

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Speaker 1: a lovely invitation to meet US President Donald Trump at

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Speaker 1: the White House in October twenty Speaking to nine's Today

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Speaker 1: program this morning, he said the US is Australia's most

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Speaker 1: important ally and both countries have an important economic relationship also,

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Speaker 1: and of course he mentioned our defense and security relationship.

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Speaker 1: Alberizi said he'd been holding talks on the importance of

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Speaker 1: the Orchest Submarine Pact with his UK counterpart, Keir Starmer.

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Speaker 1: Storying number four, Gold will become Australia's second most valuable

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Speaker 1: commodity export, overtaking liquefied natural gas still behind iron ore.

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Speaker 1: On the back of the precious metal surge, revenues from

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Speaker 1: bullion will jump to sixty billion dollars this financial year,

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Speaker 1: up from forty seven billion dollars last financial year, almost

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Speaker 1: double the level of two years ago, according to the

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Speaker 1: Department of Industry, Science and Resources. This surge will partially

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Speaker 1: offset expected revenue falls in other commodities, including iron or llen.

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Speaker 1: G Demand meanwhile, has softened, in part as crude oil

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Speaker 1: has weakened, while metallurgical coal, another big product we sell

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Speaker 1: plenty of, it's also dropped in valume. The price of

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Speaker 1: gold is heading towards four thousand US dollars an ounce,

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Speaker 1: with Goldman Sachs today suggesting it could get to four

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Speaker 1: nine hundred US dollars an ounce. Quite incredible. The run

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Speaker 1: goals going on and story number five. The predancial regulator

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Speaker 1: has toll superannuation trustees it will come after their executive

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Speaker 1: pay if the next first guardian or shield fund collapse

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Speaker 1: happens on their watch. The Australian Financial Regulation Authority today

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Speaker 1: called on super trustees to accelerate and escalate efforts to

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Speaker 1: safeguard members' investments held in platform products, as it noted

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Speaker 1: weaknesses observed in its review, including in the onboarding and

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Speaker 1: monitoring of products, as well as remedial action taken by trustees. Now,

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Speaker 1: trustees are bound by the Financial Accountability Regime, which means

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Speaker 1: bonuses can be called back if they fumble their obligations

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Speaker 1: to members. According to report in The Australian, that's it

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Speaker 1: for the Afternoon Report for Tuesday, the seventh of October

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Speaker 1: twenty twenty five. Make sure you hit follow on the

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Speaker 1: podcast who will be Back tomorrow morning with a Wednesday

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Speaker 1: edition of The Fast five. I'm Sean aelma Enjoy read