1 00:00:03,840 --> 00:00:07,160 Speaker 1: It's Tuesday, the thirteenth of January twenty twenty six. Welcome 2 00:00:07,160 --> 00:00:09,639 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,680 --> 00:00:11,479 Speaker 1: where we give you the top five business stories you 4 00:00:11,560 --> 00:00:13,880 Speaker 1: need to know in just five minutes. O'm Michael Thompson 5 00:00:13,920 --> 00:00:15,200 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,320 --> 00:00:16,880 Speaker 2: Good morning Michael, Sean. 7 00:00:17,040 --> 00:00:19,159 Speaker 1: Five stories in five minutes. Let's go a story. Number one. 8 00:00:19,200 --> 00:00:22,759 Speaker 1: Prime Minister Anthony Alberzi will recall Parliament on Monday and 9 00:00:22,840 --> 00:00:26,320 Speaker 1: Tuesday next week to debate new hate speech laws as 10 00:00:26,320 --> 00:00:30,640 Speaker 1: the federal government pushes to be more proactive around anti Semitism. 11 00:00:30,960 --> 00:00:34,720 Speaker 2: Alberanezi will push to make incitement of hatred a crime 12 00:00:34,880 --> 00:00:37,200 Speaker 2: and being hate groups in the two day emergency session 13 00:00:37,240 --> 00:00:41,360 Speaker 2: of parliament he called on He called parliament back and 14 00:00:41,600 --> 00:00:43,920 Speaker 2: asked them to back his initial plans to deal with 15 00:00:43,920 --> 00:00:46,680 Speaker 2: the aftermath of the Bondai massacam. The PM said both 16 00:00:46,680 --> 00:00:49,400 Speaker 2: houses will be recalled. The first day will be set aside, 17 00:00:49,400 --> 00:00:52,280 Speaker 2: that's Monday, for a condolence motion for the victims. The 18 00:00:52,360 --> 00:00:55,720 Speaker 2: anticipated the name of the Bill Combating Anti Semitism and 19 00:00:55,760 --> 00:00:59,400 Speaker 2: Extremism Bill will create serious offenses for hate preachers and 20 00:00:59,480 --> 00:01:03,360 Speaker 2: leaders seeking to radicalize young Australians. According to the PM, 21 00:01:03,480 --> 00:01:07,800 Speaker 2: the anticipated Serious Vilification offense will criminalize inciting hatred on 22 00:01:07,800 --> 00:01:10,319 Speaker 2: the grounds of race and carry a maximum penalty of 23 00:01:10,319 --> 00:01:13,400 Speaker 2: five years. Building on hate speech laws passed last year, 24 00:01:14,400 --> 00:01:16,920 Speaker 2: alber Easy said it was also create a new framework 25 00:01:17,080 --> 00:01:19,520 Speaker 2: that will enable the Minister of Home Affairs to list 26 00:01:19,640 --> 00:01:23,399 Speaker 2: organizations as prohibited hate groups, and it will include the 27 00:01:23,480 --> 00:01:27,920 Speaker 2: national guns buyback scheme announced after the Bondo massacrem Once 28 00:01:27,920 --> 00:01:30,440 Speaker 2: an organization is listed as a hate group, it will 29 00:01:30,480 --> 00:01:32,960 Speaker 2: be a criminal offense to be a member, to recruit 30 00:01:33,000 --> 00:01:36,200 Speaker 2: for it, to donate or receive funds, or support that 31 00:01:36,240 --> 00:01:39,160 Speaker 2: group in any way. Penalties could be up to seven 32 00:01:39,240 --> 00:01:40,520 Speaker 2: years in jail. 33 00:01:40,600 --> 00:01:43,920 Speaker 1: So essentially, the government's trying to lower the threshold for 34 00:01:44,000 --> 00:01:46,720 Speaker 1: hate speech so that organizations that have probably come close 35 00:01:46,760 --> 00:01:49,760 Speaker 1: to crossing the line in the past may well now 36 00:01:49,920 --> 00:01:52,559 Speaker 1: be caught up. What's the response been. 37 00:01:52,480 --> 00:01:55,440 Speaker 2: Like Chairney General Michelle Rowland said the laws were developed 38 00:01:55,520 --> 00:01:58,800 Speaker 2: with consultation from experts and stakeholders, starting with members of 39 00:01:58,800 --> 00:02:01,200 Speaker 2: the Jewish community. Now, the op position said it hasn't 40 00:02:01,200 --> 00:02:04,720 Speaker 2: seen the legislation yet, though Opposition Leader Susan Lee has 41 00:02:04,760 --> 00:02:07,000 Speaker 2: been critical of a single bill to deal with both 42 00:02:07,320 --> 00:02:10,960 Speaker 2: both hate speech and gun reforms. She said the announcement 43 00:02:11,000 --> 00:02:15,200 Speaker 2: was a political decision aimed at fostering division, not creating unity. 44 00:02:15,560 --> 00:02:18,040 Speaker 2: That doesn't necessarily mean the opposition won't vote for it, 45 00:02:18,120 --> 00:02:20,720 Speaker 2: though the NATS won't like the changes to the gun laws. 46 00:02:21,040 --> 00:02:24,000 Speaker 1: Okay, moving on to story number two. Now, household spending 47 00:02:24,080 --> 00:02:26,760 Speaker 1: has risen strongly for the second month in a row, 48 00:02:26,960 --> 00:02:30,639 Speaker 1: which will put pressure on inflation and higher interest rates. 49 00:02:30,760 --> 00:02:34,800 Speaker 2: The Black Friday sales drove turnover during November, with clothing, footwear, 50 00:02:34,800 --> 00:02:37,600 Speaker 2: furnishings and electronics particularly popular. For the four month sales 51 00:02:37,720 --> 00:02:40,480 Speaker 2: up nearly one percent, but increases in turnover for eight 52 00:02:40,560 --> 00:02:43,000 Speaker 2: of the nine different categories. Over the year, sales are 53 00:02:43,080 --> 00:02:46,600 Speaker 2: up about six percent, leading the way furniture and household equipment. 54 00:02:46,600 --> 00:02:51,520 Speaker 2: The laggard alcoholic beverages and tobacco, probably tobacco mostly. What 55 00:02:51,600 --> 00:02:53,839 Speaker 2: it does suggest it's that household spendings up that puts 56 00:02:53,880 --> 00:02:56,840 Speaker 2: some inflationary pressures into the economy. However, the a and 57 00:02:56,919 --> 00:03:00,800 Speaker 2: ZL indeed Australian Job Adds Index yesterday f half percent 58 00:03:00,840 --> 00:03:03,240 Speaker 2: in December, following revised one and a half per cent 59 00:03:03,280 --> 00:03:05,600 Speaker 2: in drop down About eight percent of the six months 60 00:03:05,680 --> 00:03:09,200 Speaker 2: to December, particularly poor in Queensland and Victoria. That suggests 61 00:03:09,240 --> 00:03:12,000 Speaker 2: that maybe the labor market isn't as hot as we'd thought. 62 00:03:12,520 --> 00:03:15,120 Speaker 1: Story number three One month on, and it's still not 63 00:03:15,440 --> 00:03:18,720 Speaker 1: clear just how successful the social media ban for under 64 00:03:18,760 --> 00:03:22,320 Speaker 1: sixteen year olds has been. Yesterday, Meta said it had 65 00:03:22,400 --> 00:03:26,000 Speaker 1: removed more than five hundred and forty thousand uses as 66 00:03:26,040 --> 00:03:27,360 Speaker 1: a result of the change. 67 00:03:27,520 --> 00:03:31,280 Speaker 2: Yes Instagram, three hundred and thirty one thousand removed from Instagram, 68 00:03:31,400 --> 00:03:33,959 Speaker 2: one hundred and seventy three thousand from Facebook, forty thousand 69 00:03:33,960 --> 00:03:36,520 Speaker 2: from threads. Given this about one million thirteen fourteen fifteen 70 00:03:36,560 --> 00:03:39,880 Speaker 2: year olds means about half of all Australians of that 71 00:03:40,000 --> 00:03:43,000 Speaker 2: age are reached by Meta, about one third by Instagram. 72 00:03:43,320 --> 00:03:45,680 Speaker 2: After providing the information the US companies of the band 73 00:03:45,680 --> 00:03:48,280 Speaker 2: was ineffectual in its current form, it says the only 74 00:03:48,320 --> 00:03:51,320 Speaker 2: way to provide consistent industry wide protections for younger people 75 00:03:51,800 --> 00:03:55,800 Speaker 2: is to undertake age verification at the app store, which 76 00:03:55,880 --> 00:03:58,120 Speaker 2: of course puts the owners on plaiers like Apple and 77 00:03:58,200 --> 00:04:00,720 Speaker 2: Google slash alphabet not measure. 78 00:04:01,320 --> 00:04:04,640 Speaker 1: Story number before. The US Attorney's Office in the District 79 00:04:04,720 --> 00:04:08,720 Speaker 1: of Columbia has opened a criminal investigation into Jerome Powell, 80 00:04:08,880 --> 00:04:11,640 Speaker 1: the head of the US Federal Reserve, over the Central 81 00:04:11,640 --> 00:04:15,680 Speaker 1: Banks renovation of its Washington headquarters, and whether the chair 82 00:04:15,920 --> 00:04:18,840 Speaker 1: lied to Congress about the scope of the project. 83 00:04:19,120 --> 00:04:21,839 Speaker 2: The investigation represents the opening of a major new legal 84 00:04:21,880 --> 00:04:25,440 Speaker 2: front against Powell, whom Trump has continually attacked for resisting 85 00:04:25,520 --> 00:04:28,479 Speaker 2: his demands to slash interest rates. Powell more or less 86 00:04:28,480 --> 00:04:31,200 Speaker 2: called it witch hunt. He said, I quote, the threat 87 00:04:31,279 --> 00:04:33,760 Speaker 2: of criminal charges is a consequence of the Federal Reserve 88 00:04:33,800 --> 00:04:36,560 Speaker 2: setting interest rates based on our best assessment of what 89 00:04:36,720 --> 00:04:39,440 Speaker 2: will serve the public, rather than following the preference of 90 00:04:39,640 --> 00:04:42,520 Speaker 2: the President. Trump, of course, has been very critical of 91 00:04:42,640 --> 00:04:45,320 Speaker 2: Powell and the fact that he hasn't cut interest rates. 92 00:04:45,520 --> 00:04:48,440 Speaker 2: More he's continually threatened to fire him, even though he 93 00:04:48,480 --> 00:04:51,159 Speaker 2: appointed Powell in his first term, and he can't actually 94 00:04:51,200 --> 00:04:55,240 Speaker 2: fire him. Starting an investigation is not the same as 95 00:04:55,279 --> 00:04:59,279 Speaker 2: succeeding with an investigation. Now, previous indictments against the former 96 00:04:59,360 --> 00:05:03,200 Speaker 2: FBI directed James Camey, New York Attorney General Letitia James, 97 00:05:03,240 --> 00:05:06,600 Speaker 2: were both thrown out in November. We'll just have to 98 00:05:06,600 --> 00:05:07,800 Speaker 2: see where this one lands. 99 00:05:07,960 --> 00:05:10,479 Speaker 1: Indeed, all right, last one, story number five, bit of 100 00:05:10,480 --> 00:05:12,279 Speaker 1: a change of pace for the last one Sewan. A 101 00:05:12,360 --> 00:05:15,400 Speaker 1: rare nineteen thirty eight copy of the comic book that 102 00:05:15,560 --> 00:05:19,000 Speaker 1: introduced Superman to the world, and also was one stolen 103 00:05:19,080 --> 00:05:22,040 Speaker 1: from the home of actor Nicholas Cage, has been sold 104 00:05:22,080 --> 00:05:25,560 Speaker 1: for a record fifteen million US dollars or about what's 105 00:05:25,560 --> 00:05:27,640 Speaker 1: app Twenty two million Aussie dollars. 106 00:05:28,040 --> 00:05:31,640 Speaker 2: The private deal for Action Comics Number one eclipses the 107 00:05:31,640 --> 00:05:34,520 Speaker 2: previous record price for a comic book, set last November, 108 00:05:34,880 --> 00:05:38,400 Speaker 2: when a copy of Superman number one different Action Comics 109 00:05:38,440 --> 00:05:40,600 Speaker 2: Number one That one sold for nine point one two 110 00:05:40,680 --> 00:05:43,679 Speaker 2: million US. This one fifteen million US. The comic book's 111 00:05:43,720 --> 00:05:46,440 Speaker 2: new owner wants to remain anonymous, according to Associated Press, 112 00:05:46,480 --> 00:05:48,159 Speaker 2: the comic, which sold the ten cents when it came 113 00:05:48,720 --> 00:05:52,440 Speaker 2: When it came out was an anthology of tales about 114 00:05:52,480 --> 00:05:56,400 Speaker 2: mostly now little learned characters, but over a few panels, 115 00:05:56,400 --> 00:05:59,239 Speaker 2: it tells the original stories Superman's birth and a dying planet, 116 00:05:59,320 --> 00:06:01,600 Speaker 2: his journey to work, with his decision as an adult 117 00:06:01,640 --> 00:06:06,440 Speaker 2: to turn his titanic strength into channels that would benefit mankind. 118 00:06:06,880 --> 00:06:07,560 Speaker 2: Go super Man. 119 00:06:08,000 --> 00:06:09,680 Speaker 1: What a way to finish? There we go the top 120 00:06:09,720 --> 00:06:13,000 Speaker 1: five business stories in five minutes. Thank you very much, Sean, 121 00:06:13,160 --> 00:06:16,000 Speaker 1: Thank you Michael. It's Tuesday, the thirteenth of January twenty 122 00:06:16,000 --> 00:06:18,880 Speaker 1: twenty six, remembered hit follow on the podcast and if 123 00:06:18,880 --> 00:06:21,320 Speaker 1: five minutes isn't enough, you can find our longer daily 124 00:06:21,360 --> 00:06:24,320 Speaker 1: show called Fear and Greed wherever you listen to podcasts. 125 00:06:24,360 --> 00:06:26,560 Speaker 1: I'm Michael Thompson and that was the past five business 126 00:06:26,600 --> 00:06:31,720 Speaker 1: news by Fear and Greed. Have a great day.