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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 eighth of January twenty twenty six

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

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

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Speaker 1: Let's go with story number one. The S and PA

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Speaker 1: is Sex two hundred closed just a touch lower today,

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Speaker 1: down zero point one percent to nine hundred and thirty

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Speaker 1: four points. But that does not tell the whole story,

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Speaker 1: because it has been a very eventful day after the

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Speaker 1: ABS released the latest CPI data revealing that inflation jumped

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Speaker 1: well above expectations in the December quarter, with markets now

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Speaker 1: pricing in a seventy five percent chance of an interest

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Speaker 1: rate hike when the RBA Board meets next week. We'll

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Speaker 1: have more on this one tomorrow. But that helped push

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Speaker 1: the Aussie dollar higher, with the currency hitting a three

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Speaker 1: year high of seventy point two to two US sense

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Speaker 1: interest rates. Sensitive tech stocks fell wise. Tech Global was

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Speaker 1: off almost four percent today, next TODC nearly three percent lower,

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Speaker 1: monitoring app Life three sixty was down seven point six percent.

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Speaker 1: They were offset, though, by another good day for the

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Speaker 1: gold miners Northern Star, Evolution mining, PERSEUS mining all climbing today,

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Speaker 1: with the price of gold now beyond five thousand, two

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Speaker 1: hundred US dollars an ounce another record. Energy stocks rose

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Speaker 1: today as well. Woodside and Santos were both up around

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Speaker 1: three percent. Oil prices are higher due to a massive

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Speaker 1: winter storm in the US disrupting oil production there on

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Speaker 1: de story number two now and grocery wars certainly heating

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Speaker 1: up after Amazon did a deal whereby it will deliver

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Speaker 1: products from Harris Farm Markets. That is the first time

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Speaker 1: in Australia that the global powerhouses dipped its toe into

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Speaker 1: fresh food delivery. The deal is going to put pressure

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Speaker 1: on both woolies and coals and that should be good

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Speaker 1: for consumers. Initially, the concept will be rolled out in

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Speaker 1: Inner Sydney with free delivery for purchases over one hundred dollars.

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Speaker 1: Harris Farm has thirty three stores around the country and

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Speaker 1: increasingly is competing with both the big supermarkets. Delivery is

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Speaker 1: escalating in importance for all retailers, with online sales now

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Speaker 1: about eleven percent of the market. Last year we had

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Speaker 1: daw Dash doing a deal with Aldi to deliver products,

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Speaker 1: while Willies and Cole's use a number of delivery services.

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Speaker 1: Story number three, Former Prime Minister Scott Morrison has called

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Speaker 1: for Islamic leaders in Australia to take greater responsibility for

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Speaker 1: tackling extremism. During a somewhat controversial speech at an anti

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Speaker 1: Semitism conference in Jerusalem, Morrison argued that Muslim institutions should

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Speaker 1: license preachers, translate sermons into English, and discipline radical voices,

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Speaker 1: comments that have been condemned by labor and Muslim leaders

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Speaker 1: as harmful, with Treasurer Jim Chalmers saying Morrison is a

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Speaker 1: pretty divisive figure. The comments come as fresh instability bruis

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Speaker 1: inside the Coalition, with Nationals MP Colin Boyce announcing that

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Speaker 1: he will move a leadership spill next week to challenge

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Speaker 1: David Little Proud, despite colleagues saying he lacks the numbers.

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Speaker 1: More on this one tomorrow. Story number four. Speaking of

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Speaker 1: former Prime Ministers Kevin Rudd back in the news, Prime

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Speaker 1: Minister Anthony Albernesi not ruling out backing Rudd for a

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Speaker 1: second crack at becoming the United Nations Secretary General, fueling

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Speaker 1: speculation that the former PM is preparing a formal bid.

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Speaker 1: Reports suggests that Rudd stepped down early as Australia's ambassador

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Speaker 1: to the US in order to position himself ahead of

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Speaker 1: the leadership contest later this year. The term of the

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Speaker 1: current Secretary General, Antonio Guterrez expires in December. When he

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Speaker 1: was questioned about this, Anthony Abernezi declined to confirm or

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Speaker 1: deny support, saying only that he looked forward to the

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Speaker 1: Australian media backing Australians who put themselves forward for international roles.

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Speaker 1: Rudd's first UN bid collapsed in twenty sixteen after the

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Speaker 1: coalition refused to endorse him. Is not known exactly how

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Speaker 1: successful he'll be this time around. It was expected that

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Speaker 1: the next leader of the UN would be from in

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Speaker 1: America and likely be female, and of course Kevin rud

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Speaker 1: is neither of those. Story Number five Global logistics Giant

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Speaker 1: UPS will cut up to thirty thousand jobs and close

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Speaker 1: at least twenty four facilities this year as it dramatically

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Speaker 1: reduces its reliance on Amazon deliveries. According to the FT,

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Speaker 1: the cuts represent about six percent of UPS's workforce and

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Speaker 1: follows twenty thousand job losses last year as the company

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Speaker 1: reshapes its network after agreeing to more than half Amazon

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Speaker 1: package volumes. Ups says Amazon remains its biggest customer, but

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Speaker 1: the thing is it is one of its least profitable.

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Speaker 1: Hence the pivot towards higher margin healthcare logistics, including vaccine delivery.

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Speaker 1: And that's it for the afternoon Report for Wednesday, the

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Speaker 1: twenty eighth of January twenty twenty six. Make sure you're

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Speaker 1: following the podcast that's very important and head along to

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Speaker 1: Fear and Greed dot com dot Are you to sign

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Speaker 1: up for our free daily newsletter. I'm Michael Thompson. Enjoy

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