FEAR & GREED | Business News

Markets are buzzing as the ASX climbs and tech stocks see notable performance. In corporate news, DroneShield's secret contract raises eyebrows while Australia Post hires Bain for an operations overhaul. As the Melbourne Cup approaches, residential auction activity cools down. Meanwhile, Donald Trump's controversial Halloween party faces backlash over SNAP disruptions, with Australian guests in attendance. Stay updated with the latest in business and economy!

House prices are surging at their fastest pace in over two years, driven by rate cuts and supply shortages. Wall Street's tech giants continue to dominate the market, raising concerns about concentration risks. Meanwhile, tensions arise within the Coalition over climate policy, as emissions ties spark debate. Warren Buffett’s record cash reserve of $382 billion raises questions about the future of Berkshire Hathaway. Plus, two Australian hotels make it to the world’s top 50, highlighting local luxury.

Diana Mousina, the Deputy Chief Economist at AMP, joins to dive into the latest economic trends. She analyzes how shock inflation numbers have shifted expectations for the RBA's interest rate decisions. Surprising CPI figures caught economists off guard, and Diana discusses the implications for future rate cuts. Housing prices are also a focal point as they impact RBA policies. Lastly, she emphasizes the importance of household spending as a key indicator that the RBA will be monitoring closely.

Sean Aylmer, a former business journalist with extensive experience at The Australian Financial Review, dives into the intricate relationship between media and corporations. He discusses how a report sent Domino's shares surging and the trustworthiness of platforms like Street Talk. Aylmer also sheds light on the verification process journalists use before publishing, explores how government entities mirror business media tactics, and reveals behind-the-scenes pressures that shape news coverage.

This week brought an inflation shock that could change interest rates. A surprising meeting between the US and Chinese presidents hints at easing trade tensions. WiseTech faces scrutiny over alleged improper trading activities. Meanwhile, James Hardie’s chair was ousted following a turbulent annual meeting. Flattery toward Trump at APEC raises eyebrows, and Japan's Prime Minister took it to the next level with extravagant gestures. Lastly, King Charles's move to strip Prince Andrew of his titles marks a significant moment for abuse survivors.

In today's discussion, the ASX showed mixed performance with gold miners seeing a rally. Meta's stock took a hit after warnings about increased AI spending and tax charges. ANZ announced a staggering $1.1 billion profit impact under its new CEO. There's a political stir with the Liberal Party reconsidering its net-zero stance, stirring business uncertainty. Meanwhile, ResMed is set to double its US manufacturing capacity with a new plant in Indianapolis. Lastly, Buckingham Palace decided to strip Prince Andrew of his royal titles.

Shareholders make headlines by ousting the chair of James Hardie over a controversial $14 billion merger. In a surprising twist, Trump vows to speed up nuclear testing during discussions with Xi Jinping. Coles outpaces Woolworths with a faster sales growth, while Nvidia achieves an astonishing $5 trillion market valuation. Retailers like Bunnings and Kmart report an alarming increase in aggressive shopper behavior, further shaking the retail landscape.

Giovanni Dolce, Chief Commercial Officer at IMAX Corporation, dives into the fascinating world of cinema. He reveals IMAX's unique end-to-end film format, offering everything from cutting-edge cameras to post-production services. Dolce discusses collaborations with blockbuster filmmakers like Christopher Nolan and the rigorous quality control that ensures a consistent experience across global screens. He also shares IMAX's ambitious expansion plans in Australia and argues that the communal cinema experience remains vital in a post-COVID world, reinforcing the resilience of theatres.

The ASX 200 sees a decline as hopes for rate cuts dim, impacting property and retail sectors. In corporate news, MinRes reports strong results, negating the need for lithium asset sales. The James Hardy chair is ousted after a major merger, while Senate dynamics shift with a new questioning strategy. The US Federal Reserve cuts rates but remains cautious, highlighting risks in the job market and tariffs. Stay tuned for a quick update on key business stories!

Jack Newton, Founder and CEO of Clio, and Caralee Fontenele, Director at Scalable Law, discuss how technology is revolutionizing the legal industry. They delve into the data lock-in crisis, revealing that one in three law firms face hurdles in accessing and migrating their data. Jack emphasizes the critical need for data portability, while Caralee shares her firsthand challenges with vendor constraints. They advocate for open standards and better vendor practices, highlighting a growing demand for regulatory changes to ensure data freedom across all platforms.