1 00:00:03,840 --> 00:00:06,800 Speaker 1: It's Wednesday, the twenty first of January twenty twenty six. 2 00:00:06,960 --> 00:00:09,639 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,640 --> 00:00:11,440 Speaker 1: where we give you the top five business stories you 4 00:00:11,520 --> 00:00:13,680 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,720 --> 00:00:15,040 Speaker 1: and good morning Sean Ayler. 6 00:00:15,160 --> 00:00:16,560 Speaker 2: Good morning, Michael, Seawan. 7 00:00:16,800 --> 00:00:19,480 Speaker 1: Five big stories in five minutes. Let's go story number one. 8 00:00:20,040 --> 00:00:24,040 Speaker 1: The Coalition has split over the Federal government's hate speech laws, 9 00:00:24,040 --> 00:00:28,360 Speaker 1: with the Nationals absenting from voting in the House of Reps. However, 10 00:00:28,600 --> 00:00:31,800 Speaker 1: they passed the legislation with the support of the Liberals, 11 00:00:31,800 --> 00:00:34,680 Speaker 1: giving the government greater powers to crack down on hate groups. 12 00:00:35,040 --> 00:00:35,400 Speaker 1: That's right. 13 00:00:35,440 --> 00:00:38,479 Speaker 2: The laws passed the Senate last night after negotiations between 14 00:00:38,640 --> 00:00:42,720 Speaker 2: the Labor and Liberal parties. They state. The legislation states 15 00:00:42,720 --> 00:00:45,479 Speaker 2: that an organization can be outlawed to protect the Australian community 16 00:00:45,600 --> 00:00:49,839 Speaker 2: against social, economic, psychological and physical harm. That was the 17 00:00:49,840 --> 00:00:53,200 Speaker 2: definition considered too broad by some nets. The Libs gained 18 00:00:53,240 --> 00:00:56,760 Speaker 2: some concessions in negotiations between Anthony Albernezi and Susan Lee, 19 00:00:57,160 --> 00:00:59,720 Speaker 2: namely that the decision to outlaw group must be supported 20 00:00:59,720 --> 00:01:02,040 Speaker 2: by the Opposition leader as well as he directed General 21 00:01:02,120 --> 00:01:05,280 Speaker 2: of Asio. The Greens are against the hate speech law, 22 00:01:05,400 --> 00:01:07,440 Speaker 2: saying they are a threat to free speech and the 23 00:01:07,520 --> 00:01:10,400 Speaker 2: right to associate peacefully. The Greens of course hold the 24 00:01:10,440 --> 00:01:12,160 Speaker 2: bounce of power and the Senate, but their vote wasn't 25 00:01:12,200 --> 00:01:15,080 Speaker 2: needed given Labor and the Libs both voted for the 26 00:01:15,200 --> 00:01:19,560 Speaker 2: legislation in the Senate. The government's gun reform law passed 27 00:01:19,560 --> 00:01:22,119 Speaker 2: the lower house and was supported in the upper House 28 00:01:22,120 --> 00:01:25,600 Speaker 2: by the Greens, meaning it too will become law. 29 00:01:25,680 --> 00:01:28,440 Speaker 1: In the end. The government got to pass some legislation 30 00:01:28,480 --> 00:01:31,520 Speaker 1: in response to the Bondai massacre with those liberal amendments. 31 00:01:32,000 --> 00:01:35,480 Speaker 1: Any chance that kind of given the nature of this, 32 00:01:36,120 --> 00:01:39,080 Speaker 1: there was a cessation in hostilities between the major parties. 33 00:01:39,080 --> 00:01:40,640 Speaker 1: I wishful thinking Sean. 34 00:01:40,640 --> 00:01:44,800 Speaker 2: Yes, Nata, but Michael no, there wasn't of course. In fact, 35 00:01:44,920 --> 00:01:48,040 Speaker 2: question Dyne got pretty personal. He called on Anthony Alberinezi 36 00:01:48,040 --> 00:01:50,480 Speaker 2: to apologize to the families of the Bondai terror victims, 37 00:01:50,480 --> 00:01:53,120 Speaker 2: claiming his handling of the tragedy was callous and unfair. 38 00:01:53,200 --> 00:01:55,800 Speaker 2: She also blasted the pan for delaying announcing a Royal commission. 39 00:01:56,160 --> 00:01:58,960 Speaker 2: For his part, Albanezi accused his predecessors Scott Morrison of 40 00:01:59,040 --> 00:02:01,960 Speaker 2: overseeing a spike in anti Semitism and not acting. 41 00:02:02,120 --> 00:02:05,280 Speaker 1: Okay, Moving on to story number two. Now, the Araring 42 00:02:05,400 --> 00:02:08,400 Speaker 1: power station in New South Wales will stay open until 43 00:02:08,440 --> 00:02:12,920 Speaker 1: April twenty twenty nine, beyond its previously expected closure in 44 00:02:12,960 --> 00:02:14,360 Speaker 1: August twenty twenty seven. 45 00:02:14,720 --> 00:02:16,600 Speaker 2: So the New South Ofwaler's government agreed to undwrite the 46 00:02:16,639 --> 00:02:19,040 Speaker 2: power station until next year, but then Origin Energy, which 47 00:02:19,080 --> 00:02:21,760 Speaker 2: owns Aaring, said it will extend its life beyond that 48 00:02:21,919 --> 00:02:24,600 Speaker 2: until about the middle of twenty twenty nine. New South 49 00:02:24,639 --> 00:02:27,239 Speaker 2: Wales Minister for Environment Penny Sharp said the decision gives 50 00:02:27,240 --> 00:02:30,480 Speaker 2: certainty to work as the market and energy consumers while 51 00:02:30,480 --> 00:02:33,440 Speaker 2: they transition to green energy. Is ongoing home solar that's 52 00:02:33,440 --> 00:02:36,120 Speaker 2: taking off, for example. The challenge, of course is keeping 53 00:02:36,200 --> 00:02:39,280 Speaker 2: the lights on and that is a real challenge. Ahing 54 00:02:39,400 --> 00:02:41,600 Speaker 2: is one of the two power stations in New South Wales. 55 00:02:41,720 --> 00:02:44,520 Speaker 2: The largest in the country. Black coal fired power station 56 00:02:44,600 --> 00:02:46,639 Speaker 2: has been operating one hundred and twenty kilometers north of 57 00:02:46,720 --> 00:02:49,280 Speaker 2: Sydney for about forty years, accounts for about twenty five 58 00:02:49,280 --> 00:02:51,519 Speaker 2: percent of the state's power needs. 59 00:02:52,000 --> 00:02:55,920 Speaker 1: Story number three. Superannuation Funds delivered another strong year in 60 00:02:55,960 --> 00:02:58,960 Speaker 1: twenty twenty five, with the medium balance to option returning 61 00:02:58,960 --> 00:03:01,679 Speaker 1: eight point eight percent. The long term average over the 62 00:03:01,720 --> 00:03:04,320 Speaker 1: past twenty five years is six point six percent. 63 00:03:04,400 --> 00:03:07,040 Speaker 2: So another good year for the super funds, while median 64 00:03:07,120 --> 00:03:10,880 Speaker 2: returns during November were negative and just slightly positive in December. 65 00:03:11,120 --> 00:03:14,840 Speaker 2: All up, not bad result nearly nine percent for the 66 00:03:14,840 --> 00:03:20,520 Speaker 2: whole year. The more aggressive options led performance products, according 67 00:03:20,520 --> 00:03:23,519 Speaker 2: to super ratings, return ten point two percent. The more 68 00:03:23,560 --> 00:03:28,560 Speaker 2: conservative capital stable products returned six percent or thereabouts. International 69 00:03:28,560 --> 00:03:31,840 Speaker 2: shares with the standout asset classes or fixed interest in 70 00:03:31,960 --> 00:03:34,560 Speaker 2: cash return between three point seven to four percent, which 71 00:03:34,560 --> 00:03:35,320 Speaker 2: is above inflation. 72 00:03:35,440 --> 00:03:39,800 Speaker 1: Pretty good, yeah. Story Number four. Italian fashion designer Valentino Garavani, 73 00:03:40,000 --> 00:03:42,800 Speaker 1: known of course as Valentino, has died at the age 74 00:03:42,800 --> 00:03:45,120 Speaker 1: of ninety three. As one of the giants really of 75 00:03:45,160 --> 00:03:49,280 Speaker 1: twentieth century fashion is designs, known for displaying luxury, wealth 76 00:03:49,400 --> 00:03:50,080 Speaker 1: and opulence. 77 00:03:50,480 --> 00:03:53,360 Speaker 2: He founded the Valentino Fashion House in nineteen sixty and 78 00:03:53,400 --> 00:03:57,120 Speaker 2: ranked alongside the likes of Giorgio o'manni Carl Lagerfeld at 79 00:03:57,120 --> 00:04:00,160 Speaker 2: the top of the profession. His brand really took off 80 00:04:00,200 --> 00:04:05,840 Speaker 2: in nineteen sixty four. Jacqueline Kennedy when marrying Aristotle Annassas 81 00:04:06,400 --> 00:04:10,600 Speaker 2: or a Valentino dress. Of course, most famous color Valentino 82 00:04:10,720 --> 00:04:15,120 Speaker 2: Rosso Valentino red, very kind of powerful red color. His 83 00:04:15,280 --> 00:04:18,480 Speaker 2: creations were worn by all sorts of celebrities, Audrey Hepburn, 84 00:04:18,480 --> 00:04:22,120 Speaker 2: Elizabeth Taylor, Nancy Reagan, Sharon Stone and Julia Roberts, Gwyneth Paltrow, 85 00:04:22,760 --> 00:04:26,479 Speaker 2: ah valets to, Valentino Garavani. 86 00:04:26,200 --> 00:04:29,919 Speaker 1: Indeed last one story number five. Nike has signed a 87 00:04:30,000 --> 00:04:34,279 Speaker 1: deal with world number one pickleball player Annalie Waters, making 88 00:04:34,320 --> 00:04:38,760 Speaker 1: her the first pickleball athlete to joined to join the 89 00:04:38,800 --> 00:04:41,000 Speaker 1: sports Where's roster. Probably will be the last. 90 00:04:41,320 --> 00:04:44,479 Speaker 2: No, definitely not. Waters will represent Nike for both apparel 91 00:04:44,520 --> 00:04:47,160 Speaker 2: and footwear across all of her events and professional tournaments. 92 00:04:47,200 --> 00:04:50,279 Speaker 2: According to CMBC, the eighteen year old will also serve 93 00:04:50,279 --> 00:04:53,800 Speaker 2: as a global Pickaball Ambassador for Nike Pickleball. I know 94 00:04:53,920 --> 00:04:56,200 Speaker 2: you've played it, I've never played it. Explosive growth in 95 00:04:56,240 --> 00:04:59,440 Speaker 2: recent years up until now, though Nike has been slow 96 00:04:59,480 --> 00:05:01,520 Speaker 2: to jump on the trend. The decision is part of 97 00:05:01,560 --> 00:05:03,640 Speaker 2: the turnaround plan for the group's share price. It's currently 98 00:05:03,640 --> 00:05:05,520 Speaker 2: about a one third of what it was four years ago, 99 00:05:05,640 --> 00:05:08,120 Speaker 2: so it's really struggled. In case you don't know who 100 00:05:08,200 --> 00:05:10,360 Speaker 2: Waters is, and maybe you don't currently rank number one, 101 00:05:10,360 --> 00:05:14,159 Speaker 2: and women's singles, doubles and mixed doubles a record one 102 00:05:14,200 --> 00:05:18,160 Speaker 2: hundred and eighty one gold medals, thirty nine career triple crowns. 103 00:05:18,200 --> 00:05:20,560 Speaker 2: That means in the tournament she won the singles, the 104 00:05:20,600 --> 00:05:23,600 Speaker 2: doubles and the mixed doubles. Clearly a very good pickleball 105 00:05:23,600 --> 00:05:25,640 Speaker 2: player for an eighteen year old, so full stop. 106 00:05:25,880 --> 00:05:27,919 Speaker 1: Yeah, I think that's quite incredible. There we go, the 107 00:05:27,920 --> 00:05:30,200 Speaker 1: top five business stories in five minutes. Thank you Sean, 108 00:05:30,400 --> 00:05:33,000 Speaker 1: Thank you Michael. It's Wednesday, the twenty first of January 109 00:05:33,000 --> 00:05:35,560 Speaker 1: twenty twenty six. Remember to hit follow on the podcast, 110 00:05:35,640 --> 00:05:37,800 Speaker 1: and if five minutes isn't enough, you can find our 111 00:05:37,880 --> 00:05:41,000 Speaker 1: longer daily show called Fear and Greed wherever you listen 112 00:05:41,000 --> 00:05:43,320 Speaker 1: to podcasts. I'm Michael Thompson and that was the fast 113 00:05:43,360 --> 00:05:45,920 Speaker 1: five business news by Fear and Greed. Have a great day.