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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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

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Speaker 1: Oh Michael Thompson, and every afternoon, we've got the five

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Speaker 1: stories that happened today that you need to know about.

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Speaker 1: Let's go a story number one. The SMPA SEX two

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Speaker 1: hundred closed zero point four percent lower today to eighty

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Speaker 1: seven hundred and eighty three points. It came after a

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Speaker 1: brutal lead in from Wall Street. The S and P

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Speaker 1: five hundred and the Nasdaq both fell more than two

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Speaker 1: percent overnight amid concerns over US President Donald Trump's threat

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Speaker 1: to slap tariffs on European nations unless the US is

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Speaker 1: able to buy greenland locally. The tech stocks took a hit.

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Speaker 1: Cloud Accounting Group zero was down more than five percent.

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Speaker 1: WEISEEC Global off two point four percent. Some big falls

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Speaker 1: for the banks as well. Commwealth Bank and A and

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Speaker 1: Z were both off more than two percent today. NAB

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Speaker 1: was down one point six percent and Westpac one point

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Speaker 1: two percent. I mentioned Commonwealth Bank there well. It was

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Speaker 1: a good day today for mining giant BHP, which climbed

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Speaker 1: one and an half percent, which saw its market cap

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Speaker 1: grow to within about a billion dollars of Commonwealth Bank,

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Speaker 1: which remains for now at least the largest company on

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Speaker 1: the ASX. Elsewhere, the gold miners had a cracker, with

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Speaker 1: the price of the precious metal passing four eight hundred

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Speaker 1: US dollars and ounce for the first time. Newmont was

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Speaker 1: up five percent. Evolution Mining and West Goold were both

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Speaker 1: almost ten percent higher today. On to story number two.

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Speaker 1: Now and three senior National senators have quit the coalition's

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Speaker 1: shadow cabinet after defying its position on the government's hate

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Speaker 1: speech reforms, deepening the tensions inside the coalition. Bridget Mackenzie,

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Speaker 1: Ross Cadell and Susan McDonald voted against the legislation that

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Speaker 1: passed the Senate late last night after the Liberal Party

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Speaker 1: negotiated to support the laws alongside Labour. The reforms expand

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Speaker 1: powers to ban extremist groups, cancel visas, and tough and

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Speaker 1: penalties for religious leaders who promote violence. We talked about

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Speaker 1: that on this morning show. So Opposition leader Susan Lee

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Speaker 1: has today said that the senators breached cabinet solidarity. They

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Speaker 1: were told that they had to vote in line with cabinet.

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Speaker 1: They've offered their resignations, which she has accepted. National's leader,

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Speaker 1: David little Proud, had abstained from voting in the Lower House,

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Speaker 1: saying his party supported the intent of the laws but

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Speaker 1: had concerns about free speech and the rush process. It

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Speaker 1: is the latest significant blow to the Coalition relationship, which

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Speaker 1: has been extremely fragile since the May election last year.

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Speaker 1: Story number three. Australia's fledgling space industry has received a

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Speaker 1: major boost after the taxpayer backed National Reconstruction Fund announced

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Speaker 1: a seventy five million dollar investment in Gilmore Space Technologies,

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Speaker 1: the Queensland based company. The stake, which has taken alongside

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Speaker 1: industry superfund host Plus, backs Gilmore's push to establish Australia's

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Speaker 1: first sovereign orbital sovereign orbital launch capability that's a mouthful,

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Speaker 1: which is aimed at boosting national security, satellite access and

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Speaker 1: defense resilience. Gilmore Space raised the funding as part of

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Speaker 1: a two hundred and seventeen million dollar capital round, which

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Speaker 1: will be used to scale manufacturing expand at Spaceport, which

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Speaker 1: is at Bowen in North Queensland, and support future launch attempts. Now,

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Speaker 1: if Gilmore Space Technology sounds familiar, we talked about it

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Speaker 1: last year when the company's rocket achieved liftoff for a

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Speaker 1: grand total of fourteen seconds last year. It did get

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Speaker 1: off the launch pad. It was a milestone. It was

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Speaker 1: not yet a successful orbit, though another launch attempt is

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Speaker 1: planned this year. Story number four. Britain security agencies have

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Speaker 1: warned that a popular Chinese made electric bus, which is

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Speaker 1: also operating here in Australia, could be remotely disabled from China,

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Speaker 1: raising concerns about cybersecurity risks tied to high tech imports.

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Speaker 1: The Telegraph in the UK reports an investigation by the

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Speaker 1: UK's National Cybersecurity Center found Yutong electric buses could be

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Speaker 1: fitted with a remote kill switch simcards used for software updates.

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Speaker 1: There's no evidence that the feature has actually been used

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Speaker 1: to date. In Australia. Yutong buses are already in service

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Speaker 1: in the Act, New South Wales, Brisbane, parts of South

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Speaker 1: Australia as well. Australian transport authorities say over the air

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Speaker 1: updates are disabled locally and no evidence has emerged of

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Speaker 1: remote access. And finally, story number five, President Donald Trump

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Speaker 1: is on his way to the World Economic Forum in

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Speaker 1: Davos in the midst of a global political storm, but

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Speaker 1: even his flight to Switzerland isn't without drama. The president's plane,

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Speaker 1: air Force One, has been forced to turn back to

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Speaker 1: the US an hour after takeoff due to a minor

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Speaker 1: electrical issue. White House officials said the decision was made

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Speaker 1: out of an abundance of caution, and Trump will now

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Speaker 1: travel on a replacement aircraft to the World Economic Forum

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Speaker 1: in Davos, where the Canadian Prime Minister has caused a

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Speaker 1: major stir, urging middle powers to ban together in response

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Speaker 1: to rising tensions between major powers. We will have plenty

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Speaker 1: more on this one tomorrow, but Carney warned this is

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Speaker 1: a great quote that if you're not at the table,

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Speaker 1: you are on the menu. That's it for the afternoon

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Speaker 1: Report for Wednesday, the twenty first of January twenty twenty sixth.

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Speaker 1: Make sure you're following the podcast and head along to

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Speaker 1: Fearangreed dot com Today you to sign up for our

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Speaker 1: free daily newsletter. I'm Michael Thompson. Enjoy your rep