FEAR & GREED | Business News

A surprising jobs surge drops unemployment to 4.3%, putting rate cuts on hold. The Liberal Party makes waves by abandoning its net zero commitment. A Sydney fortune teller and her daughter face serious fraud charges over a $70 million scheme. In a bizarre twist, a house in northern NSW sells for just $1. Plus, the US mints its last penny, sparking discussions about rounding in retail. Tune in for insights on the market's reaction to these developments and more!

Annie Harrison, Head of Direct Lending at UBank, shares insights on navigating the booming Australian housing market. She discusses what lenders assess when approving loans, emphasizing the importance of honesty and partnership. Annie provides tips on choosing the right loan products and government schemes, including UBank's 10% deposit option. She tackles the concept of lenders mortgage insurance and suggests broader buying strategies if local prices soar. Lastly, they explore how homeownership can be a key to wealth-building and financial diversification.

Australia reports a surge of 42,200 jobs, but the ASX takes a hit amid concerns over rate cuts and a dip in tech stocks. Corporate updates reveal Guzman's cautious outlook and Orica's strong performance, while GrainCorp faces profit challenges. In a significant move, Rio Tinto halts its Serbian lithium mine project due to competition and licensing hurdles. Meanwhile, newly released emails intensify scrutiny on Trump regarding Epstein, stirring political controversy.

The Liberal Party's decision to drop its net zero target sparks significant political debate. Commonwealth Bank's shares plunge while investors flock to rival banks. Social media platforms are strategizing bans on users under 16, employing age-guessing tools to manage accounts. Meanwhile, Australia sees a rebound in foreign visitor arrivals post-COVID, but Menulog announces its closure due to fierce competition. In the lithium sector, notable deals are underway, and Warren Buffett accelerates his plan to donate his fortune.

Recent economic data shows a surge in consumer sentiment and improved business conditions, raising questions about the potential for interest rate cuts next year. CBA's Matt Comyn highlights the resilience of the Australian economy, while experts debate the implications of these trends. Capacity constraints might signal inflation risks, complicating the rate cut scenario. As growth shifts from the public to private sector, homeowners and small businesses could feel the effects, navigating a landscape of rising house prices and a return to normal interest rates.

CBA has hit a seven-month low, shedding light on the challenges facing banks today. ARN's alarming advertising warning adds to corporate unease. Meanwhile, the Liberal Party faces an internal showdown over the net zero by 2050 policy, highlighting political divides. ASIO raises alarms about potential sabotage threats from state-backed hackers targeting critical infrastructure. In a sobering report, a bridge collapse in China raises serious safety concerns about the country’s infrastructure.

Allegations of harassment emerge against property giants CBRE and JLL, raising serious concerns. Meanwhile, the Australian housing market has soared to a staggering $12 trillion, with notable shifts in consumer sentiment. The Commonwealth Bank reports a $2.6 billion profit, but shares tumble amid investor skepticism. BHP faces a fine for failing to consult employees about public holiday work. Additionally, a lithium price surge benefits miners, while gold prices rally and South Australia tops the business rankings.

Commonwealth Bank shares took a significant hit, raising questions about whether this downturn was expected. Analysts discuss the complexities of price-to-earnings ratios and why CBA's valuation stands out among its peers. The conversation highlights how high expectations can lead to sharp sell-offs when results don't surpass what investors anticipated. Additionally, insights into market behaviors reveal how commentary from CEOs can influence stock prices more than the actual earnings reports. Tune in for a deep dive into banking valuations!

Commonwealth Bank's 6.6% plunge drags down the ASX, raising concerns over costs. The podcast reflects on the 50th anniversary of the Whitlam dismissal, framing it as a calculated plot. Nationwide Remembrance Day events are observed, with heartfelt ceremonies across major cities. Near-miss incidents at Melbourne Airport highlight safety concerns, while the Senate clears a deal to prevent a US government shutdown, addressing back pay for furloughed workers. Tech and regional bank performance also capture attention in today's market highlights.

ANZ's profits took a hit, dropping 14%, raising questions about its governance amid executive bonuses being forfeited. The RBA signaled that further rate cuts are not in the cards, urging businesses to focus on productivity. Meanwhile, the ACCC issued a warning to retailers about misleading Black Friday promotions. On a different note, sales of hybrid and plug-in electric vehicles are booming, reflecting a shift in consumer preferences. Lastly, a deal ending the US government shutdown brings some relief alongside positive corporate earnings reports.