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

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Speaker 1: The Federal government's hate speech and gun buyback legislation passes

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Speaker 1: Parliament but splits the coalition. The country's largest coal fired

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Speaker 1: power station to operate for an extra two years, and

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Speaker 1: a fashion legend dies. Plus Superannuation delivers another strong year

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Speaker 1: for Savers and Nike steps into the world of pickleball.

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Speaker 1: It is Wednesday, the twenty first of January twenty twenty six.

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Speaker 1: Are Michael Thompson and Good Morning Sean Aylmer. Good Morning Michael,

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Speaker 1: Sean the main story this morning. The Coalition has split

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Speaker 1: over the Federal government's hate speech laws, with the Nationals

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Speaker 1: absenting themselves from voting in the House of Reps. However,

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Speaker 1: the legislation passed with the support of the Liberals, giving

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Speaker 1: the government greater powers to crack down on hate groups.

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Speaker 2: That's right, so let law has passed the Senate last

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Speaker 2: night after negations between Labor and the Liberal Party leaders.

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Speaker 2: They state that an organization can be outlawed to protect

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Speaker 2: the Australian community against social, economic, psychological and physical harm,

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Speaker 2: a definition considered too broad by some National Party MPs.

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Speaker 2: The Libs gained some concessions in negotiations between Anthony Obernezi

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Speaker 2: and Susan Lee, namely that the decision to outlaw a

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Speaker 2: group must be supported by the opposition leader as well

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Speaker 2: as the Director General of ASIO. The Greens are against

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Speaker 2: the hate speech law, saying they're a threat to free

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Speaker 2: speech and the right to associate peacefully. Now the Greens

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Speaker 2: hold the balance of power and centered, of course, but

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Speaker 2: their vote wasn't needed last night given Labour and Libs

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Speaker 2: both voted for the legislation. The government's gun reform law

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Speaker 2: past the Lower House fairly easily. It was supported in

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Speaker 2: the Upper House by the Greens, meaning it will become

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Speaker 2: legislation as well.

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Speaker 1: So in the end the government got to pass some

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Speaker 1: legislation in response to the Bondao massacre with liberal amendments.

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Speaker 1: You would like to think that on an issue like this,

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Speaker 1: a topic like this, that the hostilities might take a

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Speaker 1: break from that in parliament any chance.

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Speaker 2: No, of course not. I mean the think about it

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Speaker 2: is that Lee's Lee and Alberanzi obviously negotiated and went

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Speaker 2: against members of the coalition, so it was definitely good

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Speaker 2: faith negotiations on both sides, and there's quite a bit

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Speaker 2: given by the government. That's great, you get to question time.

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Speaker 2: It's on for young and old. Right, it got pretty personal.

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Speaker 2: The Opposition later called Alberanzi, calling him to apologize to

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Speaker 2: the families of the Bondi terror victims, claiming he's handling

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Speaker 2: the tragedy was callous and unfair. She also blasted the

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Speaker 2: PM for delaying announcing a Royal commission. Alberzi back he

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Speaker 2: accused his predecessor, Scott Morrison, of overseeing a spike in

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Speaker 2: anti Semitism and not acting so the spirit of cooperation,

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Speaker 2: which you would think on such a big issue as this,

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Speaker 2: it would just be nice if they didn't get personal it.

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Speaker 1: Actually, it makes me really sad to hear that. Actually,

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Speaker 1: when you think that they were clearly able to cooperate

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Speaker 1: enough to negotiate the legislation through that couldn't just do

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Speaker 1: it without descending into the hostility that Parliament really has

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Speaker 1: now become known for.

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Speaker 2: Yeah it is, I mean it is such a shame.

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Speaker 1: Yeah, Okay, moving away from politics now, Sean. The Araing

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Speaker 1: power station in New South Wales will stay open until

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Speaker 1: April twenty twenty nine, beyond its previously expected closure, which

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Speaker 1: was August twenty twenty seven.

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Speaker 2: The New South Wales's government agreed to underwrite the power

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Speaker 2: station until next year, but oragein Energy said it will

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Speaker 2: extend its life beyond that to about the middle of

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Speaker 2: twenty twenty nine. The New South Wales Minister for the Environment,

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Speaker 2: Penny Sharp, so the decision gives certainty to workers, the

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Speaker 2: market and energy consumers across the state, as well as

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Speaker 2: contributing to New South wales twenty thirty emissions reduction target.

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Speaker 2: Not quite sure how that one works. That you can

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Speaker 2: keep the cold pop fired power station going and it

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Speaker 2: contributes anyway. The transition to green energy is ongoing. We

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Speaker 2: know that home solar, for example, taken off that the

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Speaker 2: challenge of keeping the lights on. Remain Arang is one

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Speaker 2: of the two power stations in New South Wales. It's

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Speaker 2: actually the largest in the country. The black coal fired

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Speaker 2: power station has been operated. It's about one hundred and

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Speaker 2: twenty klometers north of Sydney, been running for about forty years.

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Speaker 2: The council about twenty five percent of New South Wales' power.

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Speaker 2: The Clean Energy Council said origins move to extend or

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Speaker 2: are and highlights. The agent need to speed up investment

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Speaker 2: in renewable energy, storage and transmission. All very true, but

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Speaker 2: it is just incredible how this debate really comes down

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Speaker 2: to can we keep the lights on? And that's what

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Speaker 2: this decisions about.

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Speaker 1: You've got solar at your place, Sean.

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Speaker 2: Now I've got two very beautiful massive trees. We're a

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Speaker 2: north facing house right in front, and we have had

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Speaker 2: many people come. I'm hoping that the technology gets better, yeah,

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Speaker 2: such that we can use it. Have you no?

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Speaker 1: The technology is called a chain saw.

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Speaker 2: No.

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Speaker 1: But lately I've been bitten by the solar bug and

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Speaker 1: I just I feel like I need to be getting

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Speaker 1: on board. But it feels like a lot of the

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Speaker 1: rebates and a lot of the incentives have actually kind

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Speaker 1: of you passed that that moment where you could really

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Speaker 1: get the most out of it. But anyway, stories like

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Speaker 1: this make me go, maybe I should be reconsidering this ASX.

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Speaker 1: Where did we finish up yesterday?

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Speaker 2: Very quickly it SMPAX two hundred closed down zero point

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Speaker 2: seven eight eight one six points. Pretty rough day for

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Speaker 2: the large caps. The big banks were lower, led by

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Speaker 2: Commonwealth Bank. The big miners were lower. Some of the

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Speaker 2: better performers where's farmers, they're cell transurban woolies, global markets.

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Speaker 2: Oil price has been a bit chopping in recent days,

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Speaker 2: which we will care about because we're going to find

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Speaker 2: that out at the petrol pump. It pretty much depends

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Speaker 2: on what traders think about the Venezuelan situation or what's

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Speaker 2: going on in Europe that Ukraine or Greenland or whatever.

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Speaker 2: Brent's trading around. You are sixty four dollars a barrel.

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Speaker 2: It's facing it is actually overall, Apart from all that,

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Speaker 2: it's got downward pressure because there is this view that

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Speaker 2: supply will outpace demand on oil. Gold continues to rally

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Speaker 2: to new highs, as does silver. Bitcoin is off a bit.

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Speaker 2: We talked about it yesterday, actually holding up pretty well.

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Speaker 2: It still has held up pretty well. That was down

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Speaker 2: about three percent just after we did that story. Of course,

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Speaker 2: trading around ninety two thousand US dollars a unit. A

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Speaker 2: couple of the other cryptos have actually been dumped Ether Solana,

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Speaker 2: They've both fallen a fair bit. Osidollar buying sixty seven

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Speaker 2: point four US cents and Michael one for the bond

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Speaker 2: market of Fishionado's speaking my language gone. You know how

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Speaker 2: much we love the Japanese bond market.

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Speaker 1: Oh yes, we do.

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Speaker 2: Oh, yes, Well the forty forty year Japanese government forty

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Speaker 2: forty years for decades hit four percent yesterday. Why we're excited, Well,

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Speaker 2: that's the highest since forty year. As we introduce, basically,

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Speaker 2: Japan's the world's third biggest country, big buyer of Australian commodities.

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Speaker 2: There's a real fear that there's going to be inflation

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Speaker 2: in Japan. Now. Inflation hasn't been above three point three

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Speaker 2: percent in more than forty years in Japan, and there's

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Speaker 2: been deflation, so it's like inflation just hasn't existed for

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Speaker 2: a generation or two in Japan. All of a sudden

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Speaker 2: they're worried about it. Bond Neil's four percent, Michael, how

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Speaker 2: exciting can it get?

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Speaker 1: On feery greetother forty year term? Ah, this is a

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Speaker 1: what a great story. Okay, quick break, Sean. We've got

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Speaker 1: a lot still to come. I can't wait to talk

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Speaker 1: pickleball with you later and the business of pickleball. That's

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Speaker 1: a good one. Back in a moment with the rest

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Speaker 1: of the day's business news Seawan. The Remuneration Tribunal has

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Speaker 1: recommended a crackdown on family travel entitlements after any expenses

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Speaker 1: scandal engulfed the parliament back in December.

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Speaker 2: Any new listeners to fear and greed must realize we

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Speaker 2: love a good crackdown. The much anticipated recommendations released yesterday

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Speaker 2: will tighten the rules on airfare class and restrict the

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Speaker 2: number of expense flights available to family members each year,

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Speaker 2: according to report in the finn The report recognizes that

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Speaker 2: parliamentary life is not family friendly, as the average MP

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Speaker 2: has to spend about one quarter of the year in Canberra.

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Speaker 2: The Tribunal recommended that the annual limit for family reunion

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Speaker 2: travel for the family members of all eligible members, including

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Speaker 2: senior office holders, should be calculated using economy class return airfares.

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Speaker 2: So I think that's kind of the big one there.

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Speaker 2: Travel for spouses or ten functions and engagements where an

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Speaker 2: official limitation has been extended should be limited to three

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Speaker 2: return fairs a year. Of course, this all came after

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Speaker 2: Communications Minister Annika Wells last year in cud one hundred

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Speaker 2: thousand dollars for three return flights to New York. Then

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Speaker 2: everyone kind of came out of the woodwork considered, Ah,

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Speaker 2: I better check out my d title is here and

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Speaker 2: this is the upshot of all.

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Speaker 1: Flights criss crossing Australia, going to the AFL Grand Final, everything, everything,

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Speaker 1: you name it. There were people traveling to it and

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Speaker 1: so it got pretty messy towards the end of last year.

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Speaker 1: Superannuation funds still live at another strong year sewn in

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Speaker 1: twenty twenty five, with the median balanced option returning eight

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Speaker 1: point eight percent. The long term average over the past

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Speaker 1: twenty five years is six point six percent.

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Speaker 2: So not many things more exciting than Japanese bond markets, however,

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Speaker 2: part wait super superinuation returns is one of those things.

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Speaker 2: Another good year for super funds. We've all got super

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Speaker 2: This is a good news story.

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Speaker 1: This matters.

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Speaker 2: Median returns during November and negative. They are only up

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Speaker 2: a little bit in December. That kind of held that

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Speaker 2: final return back, but still eight point eight percent for

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Speaker 2: a median is a balanced fund, the median being the

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Speaker 2: middle the meddal result of balanced funds. The more aggressive

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Speaker 2: options led performance according to super ratings, came in at

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Speaker 2: ten point two percent, more conservative capital stable six percent,

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Speaker 2: International shares with the standout asset class fixed interest and

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Speaker 2: cash return between three point seven and four percent. That's

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Speaker 2: above inflation, so kind of a more normal market.

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Speaker 1: Sean. I was just doing a bit of googling while

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Speaker 1: you were talking, because I want to talk. We're going

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Speaker 1: to talk about potash, right, would you recognize potash if

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Speaker 1: you were to walk past it in the street.

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Speaker 2: Oh yes, I just say hello to him.

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Speaker 1: So this is the thing, right, we talked so much

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Speaker 1: about poduct This story is about the cost of BHP's

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Speaker 1: massive potash program in Canada has jumped more than a

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Speaker 1: billion US dollars, which and it's a fertilizer essentially, and

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Speaker 1: it's really interesting to look at. And I was just

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Speaker 1: kind of tells you how dull I've been become where

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Speaker 1: I'm there just google imaging potash. But the big Australian

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Speaker 1: remains in a standoff with the dominant player and the

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Speaker 1: Chinese iron ore market. That's affecting the prices it receives

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Speaker 1: for this deal making ingredient. There's a lot going on

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Speaker 1: for BHP at the moment.

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Speaker 2: I'm just looking at the potash peaks. It's kind of

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Speaker 2: like a funny pinkish it's a stone.

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Speaker 1: It is, it is.

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Speaker 2: It's very cool.

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Speaker 1: I would say one of the more attractive fertilizers and commodities.

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Speaker 2: Michael fertilizers and commodities.

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Speaker 1: Of course, I'm sorry.

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Speaker 2: BHV yesterday released it's December quarter results and said the

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Speaker 2: Jansen potash program in Canada were now a point four

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Speaker 2: billion dollars, not seven point four billion dollars now. Originally,

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Speaker 2: when it was announced five years ago, it was forecast

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Speaker 2: to cost five point seven billion dollars. So you put

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Speaker 2: that all together, it's going to cost about four million ozzie.

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Speaker 2: So the numbers I've been giving is US four million

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Speaker 2: ozzie more than we thought. That news Avery shadowed higher

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Speaker 2: copper forecasts and reaffirmed production numbers BPCE BP. Whe is

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Speaker 2: BHP become BP don't know. Just in the last few

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Speaker 2: moments it seems BHP share price fell two percent. The

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Speaker 2: mining giant has been in negotiations with sort of the

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Speaker 2: other news out of yesterday, The mining giant's been in

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Speaker 2: negotiations with Beijing backed China Mental Resources Group around iron

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Speaker 2: ore prices. Yesterday, the HP said there's no resolution there

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Speaker 2: seems that there are cargoes of iron or in Limbo.

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Speaker 2: This has been going on for months and month. A

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Speaker 2: bit of pressure on Mike Kenry, the CEO.

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Speaker 1: Now, yeah, very long time turning into international news. Now,

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Speaker 1: Donald Trump has vowed to one hundred percent follow through

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Speaker 1: on his threat to impose tariffs on European countries who

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Speaker 1: oppose his demand to take control of Greenland.

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Speaker 2: European allies have rallied around Greenland's sovereignty. Denmark's foreign minister

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Speaker 2: emphasized the US president cannot threaten his way to ownership

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Speaker 2: of the semi autonomous Danish territory. The UK Foreign Secretary

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Speaker 2: reiterated the UK's position that the future of Greenland is

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Speaker 2: for Greenlanders and for the Danes alone. Earlier, Trump declined

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Speaker 2: to rule out the use of force and insisted he

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Speaker 2: would press the head with the threatened tariffs on goods

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Speaker 2: arriving in the US from UK and seven other NATO

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Speaker 2: allied countries. As text exchanges between Trump and the Norwegian

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Speaker 2: Prime minister were released, he showed that the US president

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Speaker 2: blamed Norway for the fact that he didn't get the

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Speaker 2: Nobel Peace Prize. Now, the Norwegian Prime minister went back

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Speaker 2: said that's got nothing to do with us. He then

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Speaker 2: publicly said they say that, but it's not true.

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Speaker 1: Goodness, okay, I mentioned this at the top of the show.

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Speaker 1: Sean Italian fashion designer Valentino Garavani, obviously known as Valentino,

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Speaker 1: has died at the age of ninety three, one of

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Speaker 1: the giants of twentieth century fashion designs, known for displaying luxury,

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Speaker 1: wealth and opulence. You were a big Valentino.

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Speaker 2: Fan, absolutely, Michael Valentino read Valentino Rosso. He founded the

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Speaker 2: Valentino Fashion House in nineteen sixty. We think of Giorgio o'manni,

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Speaker 2: Carl Lagerfeld. That's kind of the level he's at. His

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Speaker 2: brand took off in nineteen sixty four after Jacquelin Kennedy

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Speaker 2: Nasis wore a Valentino addressed to her wedding to Aristotle Anassas.

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Speaker 2: She was actually Jacqueline Kennedy when she married Aristotle and

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Speaker 2: Asses to become Jacqueline Kennedy Nassas. Just clarifying that obviously

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Speaker 2: that Valentino read was his favorite color. All sorts of people,

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Speaker 2: Audrey Hepburn, Lizabeth Taylor, Nancy Reagan, Sharon Stone, Julia Roberts,

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Speaker 2: Gwyneth Paltrow all Valentino wearers.

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Speaker 1: And Giorgio Armani only died last year right as well,

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Speaker 1: so that he was in his nineties as well. Indeed, okay,

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Speaker 1: one last one Nike Sean has signed a deal with

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Speaker 1: world number one pickleball player Annalie Waters, making her the

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Speaker 1: first pickleball athlete to join the famed sportswears roster.

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Speaker 2: She will represent Nike for both apparel and footwear across

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Speaker 2: all of her events and professional tournaments. According to CMBC,

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Speaker 2: she's eighteen. She will serve as a global pickleball Ambassador

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Speaker 2: for Nike. Now, are you a pickleball fan?

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Speaker 1: Michael, I enjoy pickleball.

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Speaker 2: Play it.

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Speaker 1: Yeah, yeah, it's fun. It's fast, very much like tennis.

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Speaker 1: But you can take a lot of those same kind

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Speaker 1: of skills.

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Speaker 2: Old people, well, no.

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Speaker 1: The things you still move around a lot and you've

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Speaker 1: got it. It's very much there's a lot of pressure

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Speaker 1: then on your reflexes and so yeah, maybe you do

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Speaker 1: have people that are slightly older playing because you don't

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Speaker 1: need to cover quite as much ground, but you've got

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Speaker 1: to move quickly.

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Speaker 2: So Nike has had all sorts of problems in recent times.

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Speaker 2: This is part of a turnaround plan for the group.

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Speaker 2: It's share price about a third of what it was

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Speaker 2: four years ago, so it's trying to expand itself beyond

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Speaker 2: those traditional sports. So it's pick pickaball. Now, do you

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Speaker 2: know who Waters is?

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Speaker 1: No, Well, the number one pickleball player, number one.

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Speaker 2: She's number one in women's singles, women's doubles, mixed doubles.

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Speaker 2: It's got a record of one hundred and eighty one

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Speaker 2: gold medals, thirty nine career triple crowns. What's that mean, Well,

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Speaker 2: a triple crown is winning singles, doubles and mixed doubles

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Speaker 2: at one event. She is the goat of pickaball, even

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Speaker 2: though pickle has only been around for a few.

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Speaker 1: Years and she's only what eighteen eighteen. I don't think

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Speaker 1: I've ever felt more inadequate than right at this minute. Sean.

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Speaker 2: Okay, ah, Michael, there's plenty of dancing. I have to

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Speaker 2: feel that way. Thanks.

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Speaker 1: Up next is The Fear and Greed Q and A.

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Speaker 1: You're speaking today to HSBC Chief economist Paul Bloxham.

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Speaker 2: It's a great chat. We talk about the global outlook

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Speaker 2: and the Australian outlook, but we don't kind of talk mean.

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Speaker 2: We did talk about interest rates, but rather than actually

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Speaker 2: sort of getting into the nitty gritty, we talk about

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Speaker 2: what Australia needs to do, how it needs to change

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Speaker 2: to improve in the its economic prognosis. It's a great chat.

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Speaker 1: Yeah, it's a good not It's coming up next to

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

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Speaker 1: at Fearandgreed dot com dot au. Thank you very much, Sean,

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Speaker 1: Thank you, Michael. It's Wednesday, the twenty first of January

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Speaker 1: twenty twenty six. Make sure you're following the podcast and

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Speaker 1: please join us online on LinkedIn and Instagram. I'm Michael

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Speaker 1: Thompson and that was Fear and Greed. Have a great day.