FEAR & GREED | Business News

A major system outage at ASX sent markets spiraling downward, halting trading and triggering chaos. Concerns arise as the closure of Eraring power station could lead to blackouts in NSW. Woolworths steps up its game with enhanced delivery options just in time for the bustling festive season. Meanwhile, US-Venezuela tensions escalate with a stern ultimatum issued. And in F1 news, a strategic blunder leaves Oscar Piastri's championship hopes hanging by a thread.

The ASX has been struggling, underperforming compared to global markets. Meanwhile, national home prices have seen a surprising third consecutive monthly rise. The tax office is cracking down on income-splitting schemes for high earners. A new help-to-buy scheme is launching, but may come with price pressures. Interestingly, research reveals that cats meow louder at men, possibly because they tend to listen less. It's an entertaining mix of market insights and quirky animal behavior!

Economist Stephen Koukoulas, known as 'The Kook', shares insights on a pivotal week for the economy. He discusses the shocking rise in inflation and its implications for interest rates, arguing that rate cuts are off the table. Stephen also highlights a significant boost in business investment, pointing to its critical role in productivity. As he predicts strong GDP growth, he warns about potential risks from imported capital spending and the impact of cost-of-living pressures on household spending.

The hosts reflect on six years of running their business, sharing lessons learned through experimentation and the importance of failing fast. They discuss the constant mental tension of balancing cash flow with innovative ideas. Belief in their mission kept them going despite early struggles. Knowing one's limits and seeking help from experts was emphasized, along with the value of hands-on learning and effective communication among partners. Finally, they ponder what they would change if given the chance, highlighting the unpredictability of the future.

Adam Lang, a regular contributor, serves as the guest judge in this lively debate on the top business stories. The discussion heats up over surprising economic data, including unexpected inflation and a booming job market. Canberra's last sitting week features political drama, while APRA’s new limits on high-income loans aim to cool the housing market. The hosts reveal tales of unusual wealth, like a German inspector's embezzlement and a treasure hunt for the San José shipwreck. With all this, Adam chooses the week's standout story!

Market movers this week include a surge in Woolworths and WiseTech, with the ASX remaining flat overall. The final day of Parliament saw crucial laws passed before adjournment until 2026. Star Entertainment made headlines with a share price jump following their cleansing prospectus. Meanwhile, the RBA is considering easing restrictions on credit card surcharges amidst public backlash, while a federal ban on debit surcharges is set for next year. Tragically, a deadly tower fire in Hong Kong continues to raise the death toll.

The economy is gaining momentum, with business investment soaring due to a data centre boom. However, many Australians still face financial pressures despite green shoots in the market. New mortgage rules from the banking regulator are aiming to curb home lending, which may shift some borrowing to private lenders. In a surprising twist, researchers reveal that chihuahuas share DNA with wolves, shedding light on canine genetics. Meanwhile, notable changes in cricket ownership and a narrowing gender pay gap also make headlines.

Steve Wheen, Head of Healthcare and Managing Director of Equity Research at Jarden, dives into the recent turmoil facing CSL. He discusses significant issues like a major R&D failure leading to a stock price plunge, concerns over the Vifor acquisition, and a notable drop in albumin sales due to policy changes in China. Weaker flu vaccine bookings and potential government risks also impact CSL's outlook. Despite negative sentiment, Wheen suggests the market may have overreacted, hinting at future opportunities for investors.

The ASX 200 is on the rise amidst optimism about a Federal Reserve rate cut. Barnaby Joyce's departure from the Nationals stirs political drama as he investigates his next moves. Business investment sees a significant bump, the largest in four years. In tragic news, a devastating fire in Hong Kong claims numerous lives, while a targeted attack injures National Guard soldiers in D.C. Political discussions also spotlight Labor's struggle to meet ambitious emissions targets.

A surprising spike in inflation has dashed hopes for interest rate cuts. The Labor government is negotiating over new environmental laws. Super funds have been warned to improve services for retirees to avoid regulatory scrutiny. Meanwhile, Harvey Norman is celebrating a sales surge, contrasting with Temple & Webster's struggles. In a bizarre turn, a German parking meter attendant is accused of embezzling two million euros. The market reacts to these developments, shaping future financial landscapes.