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

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Speaker 1: for Friday, the fourth of October twenty twenty four. I'm

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Speaker 1: Sean Aylmer. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about. Storing Number one,

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Speaker 1: there's in PASX two hundred closed down zero point seven

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

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Speaker 1: ending a three week winning streak. Fears about tensions in

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Speaker 1: the Middle East dominated training, and for the week, the

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Speaker 1: BOSS was down nearly one percent. Minors were hard as

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Speaker 1: tipped today as enthusiasm about last week's stimulus measures from

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Speaker 1: Beijing waned somewhat. BHP and Reo Tinto both dropped close

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Speaker 1: to two percent. The banks also fell, with the Big

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Speaker 1: four all down around one and a half percent. The

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Speaker 1: textoks were low, led by Wistech, which ended down three percent,

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Speaker 1: and industrial property giant Goodman Group closed two percent lower.

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Speaker 1: CSL was an outperformer. Best in the day was Light

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Speaker 1: and Wonder, which rallied eight percent after the gaming company

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Speaker 1: said it intended to develop a new version of its

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Speaker 1: popular Dragon Train game following an intellectual property dispute with

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Speaker 1: the Aristocrat Leisure earlier in the year. Story Number two.

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Speaker 1: Oil prices have been reasonably low in recent months, and

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Speaker 1: we've all appreciated that at the petrol bowser, but the

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Speaker 1: region provides about one third of the world's oil, and

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Speaker 1: prices are rising again. The most recent spike today followed

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Speaker 1: US President Joe Biden commenting almost casually that the US

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Speaker 1: and Israel had discussed striking Iranian oil fields. That pushed

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Speaker 1: up the big oil and gas companies locally, with Woodside

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Speaker 1: gaining two point two percent, Santos jumped two point one percent.

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Speaker 1: Others to benefit with Viva Energy, Horizon Oil, Strike Energy,

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Speaker 1: and Karun Energy. Story number three, related to the earlier story.

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Speaker 1: A series of huge explosions rocked densely populated neighborhoods south

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Speaker 1: of Beirut overnight as Israel kept up its bombing campaign

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Speaker 1: aimed at HEZBLA leaders and weapons stores. Shockwaves short buildings

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Speaker 1: across the Lebanese capital, and three Israeli officials told The

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Speaker 1: New York Times that the air strikes were intended to

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Speaker 1: destroy an underground bunk where senior HESBLA leaders were meeting.

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Speaker 1: The explosions came shortly after an Israeli warplane carried out

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Speaker 1: an airstrike in the Israeli occupied West Bank in which

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Speaker 1: Palestinian health ficials set at least eighteen people were killed.

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Speaker 1: Israel said it had killed a Hamas commander. Meanwhile, the

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Speaker 1: Australian Federal Police, along with every state and territory police force,

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Speaker 1: have warned that they will not tolerate violence at pro

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Speaker 1: Palestinian rallies that will go ahead over the weekend. Story

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Speaker 1: numb before Elon Musk and his company X Corp must

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Speaker 1: comply with a transparency notice issued by the country's online

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Speaker 1: safety watchdog. The Federal Court has ruled X unsuccessfully challenged

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Speaker 1: the validity of the notice innaa six hundred and ten

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Speaker 1: thousand dollars fine associated with it, but today Judge Michael

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Speaker 1: Wheelerhan said that the e Safety Commissioner, Julie Inman Grant

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Speaker 1: was right to issue the notice, requiring the platform to

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Speaker 1: provide information about how it was meeting the basic online

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Speaker 1: safety expectations in relation to child sexual exploitation and abuse

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Speaker 1: material and activity hosted on its so X took the

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Speaker 1: Commissioner to court last year, challenging the fine and the

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Speaker 1: validity of the notice itself. Brett Walker sc acting for

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Speaker 1: the company, argued the notice didn't apply because the company

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Speaker 1: didn't exist when the notice was issued. The notice was

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Speaker 1: given to Twitter in February twenty twenty three, and Excort

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Speaker 1: came into being in March twenty twenty three. XCOP was

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Speaker 1: also ordered to pay the E Safety Commissioner's costs. This

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Speaker 1: case is separate from the ongoing Administrative Appeals Tribunal metal

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Speaker 1: concerning a video of a stabbing of a bishop in

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Speaker 1: a Western Sydney church and story number five. A strike

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Speaker 1: that closed US East in Gulf Coast ports will be

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Speaker 1: suspended after the dock Workers' union and the group representing

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Speaker 1: ocean carriers reached an agreement overnight. The biggest strike on

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Speaker 1: US ports in several decades was threatening to hurt the

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Speaker 1: economy ahead of the presidential election. Negotiations, which had been

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Speaker 1: at an impass over wages and automation for months, will

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Speaker 1: now continue. According to both sides, The work stoppage had

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Speaker 1: threatened to upend the US economy by starling global supply

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Speaker 1: chains and halting imports of fresh foods, pharmaceuticals, and now

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Speaker 1: the consumer goods. According to report in The Financial Times,

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Speaker 1: JP Morgan analysts estimated it could cost the US economy

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Speaker 1: as much as four and a half billion US dollars

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Speaker 1: a day. The three dozen affected ports span from Maine

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Speaker 1: to Texas and together handle one quarter of the country's

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Speaker 1: annual international trade worse three trillion dollars. US President Joe

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Speaker 1: Biden congratulated the Union and the United States Maritime Alliance,

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Speaker 1: which represents the carriers, on the deal, saying in a

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Speaker 1: statement that it represents critical progress towards a strong contract.

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Speaker 1: That's it for the afternoon report for Friday, v fourth

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Speaker 1: October twenty twenty four. Adam Lange, Michael Thompson, and I

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Speaker 1: will be back tomorrow morning with a weekend division. If

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Speaker 1: you're in Green Business News, I'm Shane Elmer. Joey read

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Speaker 1: me