1 00:00:03,840 --> 00:00:07,080 Speaker 1: It's Tuesday, the twentieth of January twenty twenty six. Welcome 2 00:00:07,160 --> 00:00:09,640 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,640 --> 00:00:11,480 Speaker 1: where we give you the top five business stories you 4 00:00:11,560 --> 00:00:13,720 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,760 --> 00:00:15,000 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,080 --> 00:00:16,160 Speaker 2: Morning Michael, Sean. 7 00:00:16,360 --> 00:00:19,400 Speaker 1: Five stories, five minutes. Let's go. Story number one. Investors 8 00:00:19,400 --> 00:00:21,959 Speaker 1: are looking for safe haven assets, pushing the price of 9 00:00:22,040 --> 00:00:25,599 Speaker 1: gold and silver to record highs as markets get spooked 10 00:00:25,600 --> 00:00:29,560 Speaker 1: by Donald Trump's demand for European nations to sell him Greenland, of. 11 00:00:29,520 --> 00:00:32,400 Speaker 2: Course, underlying the thirties of potential outbreak of a trade 12 00:00:32,400 --> 00:00:35,519 Speaker 2: war after Trump announced ten percent tariffs and several European 13 00:00:35,560 --> 00:00:40,600 Speaker 2: countries from February one unless Greenland is sold. The ax 14 00:00:40,680 --> 00:00:44,199 Speaker 2: fell yesterday, investors looking for US dollars nominated assets. The 15 00:00:44,240 --> 00:00:47,560 Speaker 2: price of golds that record high yesterday almost forty seven 16 00:00:47,640 --> 00:00:50,479 Speaker 2: hundred US dollars an ounce. It means that companies like 17 00:00:50,600 --> 00:00:54,080 Speaker 2: Northern Star is now a top fifteen company on the 18 00:00:54,120 --> 00:00:56,960 Speaker 2: A six. Tech stocks have been hit by the chaos, 19 00:00:56,960 --> 00:01:00,520 Speaker 2: with the local sector sharply lower yesterday. Now night Wall 20 00:01:00,520 --> 00:01:02,400 Speaker 2: Street was closed to the Martin Luther King holiday but 21 00:01:02,480 --> 00:01:04,680 Speaker 2: a bunch of tech stocks like Nvidia, Apple are down 22 00:01:04,720 --> 00:01:07,280 Speaker 2: ten percent from their highs of late last year. Microsoft, 23 00:01:07,319 --> 00:01:10,080 Speaker 2: sof fifteen percent one rescue your asset that has actually 24 00:01:10,080 --> 00:01:12,200 Speaker 2: held up reasonably well. Bitcoin. 25 00:01:12,880 --> 00:01:15,639 Speaker 1: What are the key factors here, Sean? What's driving markets? 26 00:01:15,680 --> 00:01:18,600 Speaker 1: Because today we've got Donald Trump marking one year since 27 00:01:18,640 --> 00:01:20,720 Speaker 1: being sworn in. Our investor is going to have to 28 00:01:20,760 --> 00:01:23,000 Speaker 1: put up with this kind of volatility for the next 29 00:01:23,000 --> 00:01:24,039 Speaker 1: three years as well. 30 00:01:24,160 --> 00:01:26,200 Speaker 2: Possibly a few things could get in the way of that. 31 00:01:26,240 --> 00:01:29,360 Speaker 2: The first is the Supreme Court and whether it says 32 00:01:29,400 --> 00:01:32,920 Speaker 2: the Donald Trump tariffs are legal now they're imposed under 33 00:01:32,920 --> 00:01:36,880 Speaker 2: the International Emergency Economic Powers Act. The Court needs to 34 00:01:36,880 --> 00:01:40,320 Speaker 2: decide whether the current geopolitical climate equates to an international emergency. 35 00:01:40,360 --> 00:01:43,920 Speaker 2: If not, Trump can't use tariffs. We'll find that out 36 00:01:43,959 --> 00:01:46,759 Speaker 2: in the next couple of days. Probably also interest rates 37 00:01:46,800 --> 00:01:49,600 Speaker 2: in the bond market. The Fed Reserve is under attack 38 00:01:49,760 --> 00:01:53,720 Speaker 2: from Trump. If markets move against Trump, that might stop him. 39 00:01:53,840 --> 00:01:57,120 Speaker 2: Also in twelve months time, or actually November this year, 40 00:01:57,120 --> 00:01:59,640 Speaker 2: we've got midterm elections, so that might provide some sort 41 00:01:59,640 --> 00:02:00,000 Speaker 2: of balance. 42 00:02:00,480 --> 00:02:04,320 Speaker 1: Okay. Story number two. The Prime Minister Anthony Albernezi and 43 00:02:04,400 --> 00:02:07,800 Speaker 1: Opposition leader Susan Lee will work together to find a 44 00:02:07,840 --> 00:02:11,560 Speaker 1: compromise on the hate crimes legislation after both agreed that 45 00:02:11,600 --> 00:02:14,160 Speaker 1: the families of the Bondai victims were looking to Parliament 46 00:02:14,160 --> 00:02:14,840 Speaker 1: for leadership. 47 00:02:15,000 --> 00:02:18,359 Speaker 2: They both met with victims families yesterday in Canberra. Not 48 00:02:18,440 --> 00:02:21,919 Speaker 2: everyone in conservative politics is happy about a deal with Labor, 49 00:02:21,919 --> 00:02:24,000 Speaker 2: with National MPs not wanting to deal with the government 50 00:02:24,080 --> 00:02:26,560 Speaker 2: on any of the legislation. At this stage, it appears 51 00:02:26,560 --> 00:02:28,760 Speaker 2: the bill dealing with gun restrictions will be passed with 52 00:02:28,840 --> 00:02:31,600 Speaker 2: Green support. A second bill giving the government new power 53 00:02:31,600 --> 00:02:35,120 Speaker 2: to jail people associated with hate groups and separate and 54 00:02:35,240 --> 00:02:37,920 Speaker 2: separate powers to block visas for hate driven activists is 55 00:02:37,960 --> 00:02:41,200 Speaker 2: still being debated. Politicians are back in Canberra for a 56 00:02:41,240 --> 00:02:44,919 Speaker 2: two day sitting to pass legislation dealing with the Bondeo massacre. 57 00:02:45,000 --> 00:02:47,440 Speaker 2: Yesterday was given over to condolence motions, many which were 58 00:02:48,040 --> 00:02:52,760 Speaker 2: very very heartfelt. Today, debate on the legislation will dominate Story. 59 00:02:52,560 --> 00:02:56,800 Speaker 1: Number three Sean Even the airlines think airfares are too high, 60 00:02:56,840 --> 00:03:01,519 Speaker 1: but perhaps not surprisingly, they're not taking the blame, so 61 00:03:01,680 --> 00:03:03,040 Speaker 1: the airports are responsible. 62 00:03:03,160 --> 00:03:05,959 Speaker 2: That's try. The industry group that represents Quantas Virgion Australia 63 00:03:06,000 --> 00:03:09,120 Speaker 2: and Air New Zealand called Airlines for Australia and New 64 00:03:09,200 --> 00:03:12,639 Speaker 2: Zealand for ain Z says the government needs to strengthen 65 00:03:12,680 --> 00:03:17,160 Speaker 2: airport regulations to stop airfares from soaring now. It comes 66 00:03:17,320 --> 00:03:20,120 Speaker 2: after the Australian Competition and Consumer Commission said over the 67 00:03:20,160 --> 00:03:24,600 Speaker 2: weekend it lacked the regulatory ability to stop airports exercising 68 00:03:24,600 --> 00:03:27,960 Speaker 2: their market powers. That before we're talking about here Sydney, Melbourne, 69 00:03:27,960 --> 00:03:31,080 Speaker 2: Brisbane and Perth. Air for ain Z ed said airports 70 00:03:31,120 --> 00:03:33,360 Speaker 2: planned to spend forty four billion dollars upgrading over the 71 00:03:33,360 --> 00:03:36,160 Speaker 2: next decade. That'll find its way into airfares. So it's 72 00:03:36,320 --> 00:03:42,320 Speaker 2: airport's fault, not the air carriers. Now, carriers pay airports 73 00:03:42,360 --> 00:03:45,839 Speaker 2: for landing, parking and security make about two point six 74 00:03:45,880 --> 00:03:49,800 Speaker 2: billion dollars in revenue. That's across those four so of 75 00:03:49,840 --> 00:03:52,680 Speaker 2: course earned revenue from car parks, retailers, et cetera. But 76 00:03:52,760 --> 00:03:55,680 Speaker 2: the carriers say there should be some controls on the airports. 77 00:03:56,040 --> 00:04:01,160 Speaker 1: Yeah, charge people more for parking instead. Before Australia has 78 00:04:01,240 --> 00:04:05,000 Speaker 1: forty eight billionaires who hold more wealth than the bottom 79 00:04:05,080 --> 00:04:08,240 Speaker 1: forty percent of the population combined. According to a new 80 00:04:08,280 --> 00:04:09,920 Speaker 1: report by OXFAM, Australia. 81 00:04:10,040 --> 00:04:12,800 Speaker 2: It says that with eight new billionaires added to Forbes 82 00:04:12,840 --> 00:04:16,600 Speaker 2: Australian Billionaires list since twenty twenty, and they are now wealthier. 83 00:04:17,320 --> 00:04:21,320 Speaker 2: Australian billionaires are wealthier than almost eleven million Australians combined. 84 00:04:21,600 --> 00:04:23,600 Speaker 2: It's a global trend, with a number of billionaires around 85 00:04:23,600 --> 00:04:25,880 Speaker 2: the world passing three thousand for the first time combined 86 00:04:25,920 --> 00:04:29,880 Speaker 2: wealth of eighteen point three trillion US dollars. That's based 87 00:04:29,920 --> 00:04:34,000 Speaker 2: on Forbes Global list of billionaires. Billionaires globally earn three 88 00:04:34,040 --> 00:04:37,320 Speaker 2: point two million dollars per day on average. Ten richest 89 00:04:37,400 --> 00:04:39,559 Speaker 2: they are about moon about one hundred and fifty million 90 00:04:40,200 --> 00:04:43,480 Speaker 2: dollars each day. In Australia, each billionaire's wealth on average 91 00:04:43,480 --> 00:04:45,800 Speaker 2: grows by about six hundred thousand dollars a day. Ox 92 00:04:45,839 --> 00:04:48,400 Speaker 2: FAM is calling for a net wealth tax on the 93 00:04:48,560 --> 00:04:50,800 Speaker 2: richest half percent of households. 94 00:04:51,120 --> 00:04:53,520 Speaker 1: Last one story number five. How about this, Sean. This 95 00:04:53,640 --> 00:04:56,560 Speaker 1: is perhaps the toughest hard luck story of the Australian 96 00:04:56,560 --> 00:04:58,760 Speaker 1: Open tennis tournament so far, and it comes from an 97 00:04:58,760 --> 00:05:02,000 Speaker 1: American tennis player by the name of Michael Jung who 98 00:05:02,080 --> 00:05:05,159 Speaker 1: had a surprise first round victory. He may now be 99 00:05:05,240 --> 00:05:07,960 Speaker 1: forced to forfeit his minimum two hundred and twenty five 100 00:05:08,040 --> 00:05:10,960 Speaker 1: thousand dollars in prize money due to US college rules. 101 00:05:10,960 --> 00:05:13,520 Speaker 2: A nine year old beat fellow American Sebastian Quarter in 102 00:05:13,600 --> 00:05:16,200 Speaker 2: five sets over the weekend, granting him the match fee 103 00:05:16,200 --> 00:05:18,440 Speaker 2: for advancing to round two. But under US college rules, 104 00:05:18,480 --> 00:05:21,040 Speaker 2: players were only allowed to take home ten thousand dollars 105 00:05:21,080 --> 00:05:24,240 Speaker 2: annually in prize money from tennis tournaments, with any further 106 00:05:24,279 --> 00:05:28,840 Speaker 2: winnings capt at covering necessary expenses. According to News nine newspapers, 107 00:05:29,200 --> 00:05:31,479 Speaker 2: Young said he still had one semester to run at 108 00:05:31,520 --> 00:05:33,960 Speaker 2: Columbia University and it wasn't clear with that he could 109 00:05:34,040 --> 00:05:38,080 Speaker 2: keep the money. Australian player player Mayer Joint faced a 110 00:05:38,120 --> 00:05:40,839 Speaker 2: similar predicament in twenty twenty four after advancing to the 111 00:05:40,839 --> 00:05:43,000 Speaker 2: second round of the US OBN joined to was his 112 00:05:43,000 --> 00:05:45,880 Speaker 2: student at the University of Texas at the time, forfeited 113 00:05:46,000 --> 00:05:48,960 Speaker 2: two hundred and ten thousand dollars. Young might have to 114 00:05:48,960 --> 00:05:49,520 Speaker 2: do the same. 115 00:05:49,880 --> 00:05:51,960 Speaker 1: All right, there we go the top five business stories 116 00:05:51,960 --> 00:05:54,280 Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It 117 00:05:54,360 --> 00:05:57,960 Speaker 1: is Tuesday, the twentieth of January twenty twenty six, remembered 118 00:05:58,040 --> 00:06:00,800 Speaker 1: hit follow on the podcast and five minutes isn't enough. 119 00:06:00,800 --> 00:06:03,000 Speaker 1: You can find our longer daily show called Fear and 120 00:06:03,120 --> 00:06:05,520 Speaker 1: Greed wherever you listen to podcasts, and head along to 121 00:06:05,560 --> 00:06:08,039 Speaker 1: our website Fearangreed dot com dot au to sign up 122 00:06:08,040 --> 00:06:10,479 Speaker 1: for our free daily newsletter. There's a link in today's 123 00:06:10,480 --> 00:06:12,479 Speaker 1: show notes. I'm Michael Thompson and that was the fast 124 00:06:12,480 --> 00:06:15,640 Speaker 1: five business news by Fear and Greed. Had a great day.