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Speaker 1: Welcome to Fear and Greed business news you can use today.

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Speaker 1: Prime Minister Anthony Albanezi appoints a longtime bureaucrat to the

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Speaker 1: plum but difficult job of ambassadors to the US. Australians

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Speaker 1: are increasingly concerned about their long term financial prospects and

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Speaker 1: delivery wars are heating up, with Goodman doing a deal

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Speaker 1: with Uber Eats, plus China's Jijinping fires his head of

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Speaker 1: military consolidating his own power, and Elon Musk ponders buying

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Speaker 1: Ryan Air. It is Monday, the twenty sixth of January

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Speaker 1: twenty twenty six, Australia Day. I'm Michael Thompson and good

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Speaker 1: morning Sean Aylmer. Good morning Michael sewn with the country

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Speaker 1: on a public holiday today, This morning show is a

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Speaker 1: touch abbreviated, but obviously well worth a listen. Just absolutely

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Speaker 1: still plenty going on the main story this morning. The

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Speaker 1: new Australian Ambassador to the US is Department of Defense

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Speaker 1: Secretary Greg Moriarty, which is a decision that you got

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Speaker 1: to say was welcomed by all sides of politics yesterday.

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Speaker 2: Not often you get someone that pops up and suddenly

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Speaker 2: you've got the opposition leader and the Prime Minister all

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Speaker 2: saying yep, good choice. Moriarty will replace Kevin Rudd, who'll

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Speaker 2: leave the diplomatic post.

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Speaker 3: A year earlier.

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Speaker 2: A bureaucrat of note, Mariarti served as former Liberal Prime

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Speaker 2: Minister Malcolm Turnbull's chief of staff, has been Ambassador to

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Speaker 2: Iran and Indonesia and led the Defense Department since twenty seventeen,

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Speaker 2: meaning he has all sort of knowledge about the Orcus

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Speaker 2: nuclearis It's hard word to say, is it this morning

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Speaker 2: Orcus Nuclears submarine agreement. He's appointment by Labor Prime Minister

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Speaker 2: Anthony Albernezi breaks a tradition of the past fifteen years,

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Speaker 2: the last four ambassadors. Basically we're appointees that reflected the

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Speaker 2: political party in power too, from the coalition from Labor.

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Speaker 2: Alberizi yesterday said he had engaged extensively on the appointment,

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Speaker 2: including with the Trump administration in the US out scraped

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Speaker 2: Mariarti and everyone seems to be pretty happy on that one.

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Speaker 1: And considering just how high profile that job has been,

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Speaker 1: particularly with Kevin Rudd and that infamous clash in the

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Speaker 1: White House with Donald Trump, it's a big gig to

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Speaker 1: be going into and one that you want to make

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Speaker 1: sure that the administration over there is going to be

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Speaker 1: willing to work with. Right, you could put someone up there,

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Speaker 1: but if you're just going to get stonewall, what's the

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Speaker 1: point right Yep? Definitely interesting as well. Albanezi has also

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Speaker 1: announced that Canadian Prime Minister Mark Carney is going to

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Speaker 1: visit Australia. That's happening in March.

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Speaker 2: Sean, don't you think Mark Karney is everyone's favorite foreign

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Speaker 2: leader at the moment?

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Speaker 1: Oh yeah, yeah, which is amazing because he's a former

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Speaker 1: central banker, isn't he. So it's good to see you

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Speaker 1: kin'd of form a central bankers getting a moment on

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Speaker 1: the world stage.

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Speaker 3: Two. But of course that's because that Darvis.

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Speaker 2: He enunciated that the old world order led by the

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Speaker 2: US is gone. Middle powers like Canada and Australia need

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Speaker 2: to get used to it and gathered together, and I

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Speaker 2: suppose that's what this particular visit is all about. Karne

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Speaker 2: will address Parliament during his it. Alberizi was on ABC's

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Speaker 2: Inside Is yesterday. He didn't actually say much more than

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Speaker 2: the fact that he's turning up, but no doubt these

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Speaker 2: middle powers like Australia and Canada and Koreas in there

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Speaker 2: some of the South and largest South American country, Brazil.

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Speaker 2: Those sorts of places the certainly getting used to a

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Speaker 2: new world order, and Mark Carney is heading that.

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Speaker 1: Okay, let's take a look back to Friday. Where did

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Speaker 1: the ASX finish up?

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Speaker 2: The local sheer market closed, flat, gold stocks led the

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Speaker 2: way on the bounce of another new record that was

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Speaker 2: on Friday. Then over the weekend gold hit and US

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Speaker 2: dollars four nine eight seven point sixty six US dollars

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Speaker 2: an ounce, so close to that five thousand US dollars

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Speaker 2: an ounce. Incredible really among large caps. Locally, the banks,

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Speaker 2: the big retailers were weaker, the miners were mixed by

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Speaker 2: the clothes. The SMPAX two hundred was up about half

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Speaker 2: a percent from where it started.

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Speaker 1: Without any agenda whatsoever. Sean, what about the Aussie dollar?

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Speaker 2: Oh, shameless, shameless. I suppose you're interested against the US

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Speaker 2: dollars specifically.

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Speaker 1: Specifically, I don't care about any other currencies, specifically counting

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Speaker 1: down to my US trip, Sean.

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Speaker 2: Good news, trading just under sixty nine US sense sixteen high.

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Speaker 3: Go you good thing.

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Speaker 1: Oh keep going, keep of course, Michael.

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Speaker 2: Now, the reason it's training at this level is because

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Speaker 2: people think there's going to be an interest rate high

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Speaker 2: in about eight days time. Right, so you can be

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Speaker 2: there cheering. We homeowners are not so happy. Many retirees

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Speaker 2: very happy. They like higher interest rates.

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Speaker 3: Not sure about the renters.

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Speaker 1: You can never make everyone happy, right, So all I

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Speaker 1: can do is focusing on satisfying myself.

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Speaker 2: Again, it's Australia day. It's Michael Thompson day. Let's move on.

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Speaker 1: Oh golly. Fidelity International Sean mentioned this at the top

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Speaker 1: of the show. The Global Sentiment Survey from Fidelity shows

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Speaker 1: more Australians are becoming concerned about their long term financial prospects,

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Speaker 1: with the country's workers saving less than almost any other

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Speaker 1: country in the past six months. That's pretty worrying.

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Speaker 2: Yeah, So it's a massive survey. There's about thirty eight

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Speaker 2: thousand respondents across thirty five markets, so US, Japan, China,

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Speaker 2: and Brazil, UK, Saudi Arabia, but to middle power countries

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Speaker 2: there Michael had some big ones too and Australian.

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Speaker 3: The idea is that it analyzes.

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Speaker 2: The sentiment of working adults towards finance, health, life, that

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Speaker 2: type of thing and then compares cross country. According to

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Speaker 2: the research, seventy two percent of Australian workers say the

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Speaker 2: cost of living the impact of rising inflation is causing

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Speaker 2: them stress. Now the average cost of region is sixty

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Speaker 2: four percent, So in this instance it just suggests that Australians.

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Speaker 3: Are more worried about that.

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Speaker 2: It also shows that Australian workers are more likely to

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Speaker 2: have saved less in the past six months than to

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Speaker 2: have saved more, so twenty eight percent have actually saved less.

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Speaker 2: The main reason given for saving less is, of course,

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Speaker 2: rising household expenses. The point of this story the cost

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Speaker 2: of living crisis, which we talked so much about.

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Speaker 3: We thought it was easy. It ain't. It's not going away.

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Speaker 3: It is still there.

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Speaker 2: And if we get great hikes next week and then

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Speaker 2: potentially one sort of further into the year, these are

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Speaker 2: only going to be exacerbated.

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Speaker 1: Yeah, indeed, all right, a bit still to come. Sean

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Speaker 1: back in a moment with the rest of the day's

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Speaker 1: business news. Sean delivery was a heating up with Guzmani

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Speaker 1: Gomez doing a multi year exclusive delivery partnership deal with

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Speaker 1: Uber Eats here in Australia.

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Speaker 2: Under the agreement, thereats will become Goosman's sole third party

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Speaker 2: delivery partner in Australia. Know about your how all your

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Speaker 2: kids are younger. I've got sort of late teenagers, twenty

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Speaker 2: year olds. Guzman is a regular.

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Speaker 1: I can only imagine the steady stream of deliveries that

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Speaker 1: would be coming into your house. It would be NonStop, right,

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Speaker 1: you know.

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Speaker 2: My favorite, of course, is that they might get home

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Speaker 2: little late. Sometimes the kids and Jack and I will

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Speaker 2: get up early in the morning, game for a walk,

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Speaker 2: and there'll be a Goosman or a McDonald's delivery sitting

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Speaker 2: there a little cold, the food being a little cold.

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Speaker 2: I'd gotten home having had a few drinks. He's Goodsman,

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Speaker 2: a ring obviously be delivering from here on in. And

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Speaker 2: you know, sometimes in fact different times, looking outside, it's

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Speaker 2: actually at the front door, like I've been delivered six

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Speaker 2: hours earlier, but whoever had ordered it had a little snooze.

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Speaker 3: Oh my god.

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Speaker 1: It's just this food delivery hotspot, this economic hub of

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Speaker 1: your house.

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Speaker 3: Yeah.

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Speaker 2: So basically, you know, if you're a Goodman customer. Audervir

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Speaker 2: Uber Eats alongside GYG Delivery, which is the company's white

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Speaker 2: label service, which basically Erber does anyway, Goodsman said the

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Speaker 2: expanded partnership includes increased joint investment with Erber aimed at

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Speaker 2: lifting customer value and delivering improved commercial terms for the

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Speaker 2: restaurant chain it's franchises. The point really here, if you

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Speaker 2: can go with Goodsman is arguing, if you can go

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Speaker 2: with one major delivery company, you're actually cutting costs and

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Speaker 2: your customers end up better off. Certainly if they got

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Speaker 2: them to our house earlier rather than sort of ten minutes,

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Speaker 2: like six or seven minutes. Is a chance that the

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Speaker 2: food month the eton delivery, of course, remains a key

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Speaker 2: driver growth, a growth driver.

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Speaker 3: For the busines.

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Speaker 2: It accounts for twenty seven percent of Wosmand's sales.

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Speaker 3: That surprised me. I thought it'd be a lot more

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Speaker 3: than that.

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Speaker 1: Yes, actually, I think you're right. Then again, they do

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Speaker 1: have a lot.

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Speaker 3: Of outlets they do at service stations.

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Speaker 1: And drive throughs as well. Remember they've really kind of

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Speaker 1: focused hard on those drive through locations. So maybe a

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Speaker 1: share price, yeah, I mean, let's move on, John Prominent

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Speaker 1: Sydney fund manager Rodney Forrest will spend at least three

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Speaker 1: years behind bars after being found guilty of insider trading

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Speaker 1: when he used confidential information to purchase millions of dollars

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Speaker 1: worth of shares in Platinum Masse Set Management.

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Speaker 2: Not that often is someone found guilty of inside of trading,

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Speaker 2: so this is quite I mean, it's not unique by

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Speaker 2: only stretch, but it is certainly unusual. Forest was sentenced

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Speaker 2: to six years imprisonment by the Federal Court on Friday,

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Speaker 2: non parole of three years. According to a report in

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Speaker 2: the AFR, Forrest had argued previously he shouldn't receive any

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Speaker 2: time in jail because he pleaded guilty, shawed genuine remorse,

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Speaker 2: contrition and insight, and that prison time would have a

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Speaker 2: significant impact on his young family, of which he is

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Speaker 2: the sole breadwinner. However, Justice Robert from Which said the

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Speaker 2: seriousness of Forest's actions required jail to deter others from

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Speaker 2: offending now. He purchased two point seven million dollars of

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Speaker 2: shares in Platinum Asset Management Plasant Platinum Asset Manager which

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Speaker 2: is listed on that was listed on the ASEX he

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Speaker 2: told others to do so. This is between August and

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Speaker 2: September twenty twenty four. He did this after accessing Platinum

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Speaker 2: chairman Michael Cole's computer without permission, taking fatus of a

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Speaker 2: confidential takeover proposal from its rival firm, Regal Partners, then

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Speaker 2: went out bought the shares on September seventeen, twenty twenty four.

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Speaker 2: So after that, Platinum said it had received an offer

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Speaker 2: from Regal share price thirteen percent. Now that deal eventually

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Speaker 2: fell over and Platinum merged Well One Capital. But that's

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Speaker 2: a pretty clear cutcase of inside training and not that

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Speaker 2: often that. I mean to mister Forrests, I spoke credit.

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Speaker 2: He did actually fest everything up.

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Speaker 1: But wow, it's pretty blatant, isn't it. Taking photos? Wow?

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Speaker 1: Turning into international news now, Sean China's highest ranked highest

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Speaker 1: ranked rather general has been placed under investigation for serious

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Speaker 1: violations of discipline, in a move that leaves Jijinping in

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Speaker 1: total control of the armed forces.

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Speaker 2: So this guy was a childhood friend o Jijing Ping.

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Speaker 2: He was the leader of the People's Liberation Army. He'd

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Speaker 2: survived several rounds of military purchase, kind of thought was

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Speaker 2: untouchable basically, however, I mean he's also a member the

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Speaker 2: ruling polap Buro, one of the few Chinese military commanders

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Speaker 2: with combat experience, having for the country's nineteen and seventy

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Speaker 2: nine war against Vietnam. I'm going to pronounce his surname,

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Speaker 2: but I really hope.

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Speaker 3: I mean, I'll butcher it, but I'll do my best.

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Speaker 3: So Zug, I've stopped there. I O u Xia look Zucha.

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Speaker 2: That's where we're going with anyway, I apologize with pronunciations

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Speaker 2: in Greek. His dismissal marks the high point of She's

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Speaker 2: year's long effort to root out corruption and disloyalty within

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Speaker 2: the top rings of the military. It's also likely to

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Speaker 2: delay any attempt to seize Taiwan by force.

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Speaker 3: According to the Dai. To the Telegraph of London.

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Speaker 1: You noticed I didn't help you out there.

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Speaker 3: You just looked at me. I looked at you, and

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Speaker 3: I said.

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Speaker 1: And implied, and then I apologize. You're on your own here, Sean.

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Speaker 3: That's it now.

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Speaker 1: A massive winter storm has grounded more than fifteen thousand

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Speaker 1: flights around the US, triggered a greed emergency knocked out

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Speaker 1: powered one thousands, while up to thirty centimeters of snow

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Speaker 1: was expected in one New York City. Sorry to it

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Speaker 1: is expected on.

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Speaker 3: New York City. Out there's what I'm wondering.

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Speaker 1: I realized as soon as I said, I'm like I

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Speaker 1: don't think that came out.

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Speaker 3: I think it's like the pub holiday things.

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Speaker 1: It's Australia day. We are struggling, And that was also

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Speaker 1: across the rest of the Northeast corridor overnight. But just

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Speaker 1: fifteen thousand flights around the US being affected by this storm.

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Speaker 1: When we remember how a couple of weeks ago we

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Speaker 1: had the air traffic controller shortage in Sydney that we

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Speaker 1: were talking aboutfteen or twenty flights and the impacts to

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Speaker 1: flow on fifteen thousand is just an entirely different scale

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Speaker 1: of impact, right, that is.

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Speaker 2: Huge, and that round two million people are expected to

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Speaker 2: be hit with freezing conditions. The massive storms covering parts

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Speaker 2: of thirty two states, really southern states, so great photos

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Speaker 2: around Texas of these incredibly snow covered streets and things

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Speaker 2: like that. In parts of Canada, the temperature dropped as

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Speaker 2: low as minus forty five degrees celsius, quite phenomenal. Also Minnesota,

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Speaker 2: which is of course the hometown of Alex Pretty who

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Speaker 2: was tragically killed by an ice over the weekend. A

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Speaker 2: lot of the photos of that just showed how cold

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Speaker 2: it was. That story, of course, is still playing out.

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Speaker 2: Huge protests in parts of the US over ICE. The

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Speaker 2: Democrats i've natist have said that they will not be

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Speaker 2: voting for funding for that organization going forward, but of

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Speaker 2: course a lot of politics play out. The White House

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Speaker 2: is standing by the actions of the ICE agents.

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Speaker 1: Finally, Sean Elon Musk has asked his followers on social

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Speaker 1: media site X whether he should buy Ryan Air and

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Speaker 1: the escalation of a dispute that began when the carrier CEO,

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Speaker 1: Michael O'Leary ruled out adding Starlink Internet to the airlines planes,

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Speaker 1: which Elon did not like.

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Speaker 2: So the past week the Tesla boss has several times

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Speaker 2: post on a next about purchasing the airline so he

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Speaker 2: can fire the chief executive.

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Speaker 3: This is Michael O'Leary that you mentioned.

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Speaker 2: Musk posted a poll titled by Ryan airir and restore

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Speaker 2: Ryan as their rightful ruler. Now Tom Ryan, the owner,

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Speaker 2: actually died in two thousand and seven, so I don't

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Speaker 2: think he's going to be restored as the rightful ruler.

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Speaker 2: But the post was viewed thirty million times. A learyly

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Speaker 2: hit back, telling the Financial Times that Musk should spend

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Speaker 2: less time undressing women and children on X, which of

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Speaker 2: course is a reference to a feature that the allowed

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Speaker 2: users of social media site to use the grock ai

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Speaker 2: tool to alter images to remove clothing. That feature has

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Speaker 2: since been disabled, but it's getting very nasty between the two.

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Speaker 3: The irony of ball. This's under a year rules.

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Speaker 2: Airlines based in the block must be majority owned by

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Speaker 2: nationals from within the area or Switzerland, Norway, Iceland or Littenstein.

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Speaker 2: So Musk probably can't buy it. But it just shows

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Speaker 2: the reach of these tentacles and he's really gotten under

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Speaker 2: the skin obviously of Michael O'Leary from Ryan Air.

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Speaker 1: I was reading about this and I think it's really interesting.

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Speaker 1: One of the reasons why Ryan Air don't want to

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Speaker 1: add starlink was because of the extra drag that is

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Speaker 1: going to be introduced to the planes by having to

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Speaker 1: add essentially the antenna to it. Yeah, it adds something

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Speaker 1: like it was two percent additional fuel drag, they said,

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Speaker 1: which would add the equivalent of like a dollar a

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Speaker 1: dollar per ticket to every every ticket in order to

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Speaker 1: cover the additional fuel. And so it's interesting was that no, no, no, no,

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Speaker 1: did you you would have done it a bit.

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Speaker 2: It's a great, it's a great I mean, it's chaotic,

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Speaker 2: but there are a few things you've got to learn,

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Speaker 2: and like the priority boarding means you can get somewhere

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Speaker 2: to put your your bag, bag and your fate.

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Speaker 3: I like Ryan here, I think it's great.

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Speaker 1: Anyway, you won't be getting starlink on there anytime soon.

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Speaker 1: By the Sean Now next Fear and Greed Q and A.

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Speaker 1: It is the week ahead, of course, with our resident

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Speaker 1: economist Stephen Couldculis, will focus this week on the December

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Speaker 1: quarter inflation figures which come out on Wednesday, which are

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Speaker 1: obviously going to have a major impact on the Reserve

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Speaker 1: Bank's decision next week. That is coming up next in

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Speaker 1: the Fear and Greed playlist on your podcast platform or

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Speaker 1: at Fear and Greed dot com dot au, which is

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Speaker 1: where you sign up for our free daily newsletter, which

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Speaker 1: Sean is not coming out today because it is a

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Speaker 1: public holiday. And you heard how much we battled our

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Speaker 1: way through this, you would not want to receive our

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Speaker 1: newsletter along those same lines. Thanks Sean.

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Speaker 3: Thanks Michael.

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Speaker 1: It's Monday, the twenty sixth of January twenty twenty six.

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Speaker 1: Make sure you're following the podcast and join us online

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Speaker 1: on LinkedIn and Instagram. I'm Michael Thompson. And that was

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Speaker 1: peer and greed. Have a great day,