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

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Speaker 1: The World Economic Forum kicks off tonight in Davos, forty

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Speaker 1: eight hours after US President Donald Trump slapped tariffs on

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Speaker 1: European allies, which will remain in place until they agree

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Speaker 1: to sell him. Greenland Prime Minister Anthony Albanezi shells half

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Speaker 1: his racial vilification legislation as Parliament sits for a two

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Speaker 1: day summer session. And the remarkable improvement in cancer recovery rates,

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Speaker 1: plus holiday makers into Australia surge and the Australian Tennis

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Speaker 1: Open kicks off. It's Monday, the nineteenth of January twenty

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Speaker 1: twenty six. I'm Michael Thompson and good morning Sean Aylmer.

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Speaker 2: Good morning, Michael.

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Speaker 1: Back to normal today, Sean. We've got full episodes in

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Speaker 1: the morning afternoon Report. We've got the week ahead with

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Speaker 1: Stephen Cocola's coming up next in the Fear and Greed

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Speaker 1: newsletter as well. Everything back in action from today. If

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Speaker 1: you haven't signed up to the newsletter, head along to

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Speaker 1: our website to do that, or I'll put a link

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Speaker 1: in today's show notes. But the main story this morning,

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Speaker 1: Davos kicks off this week. It is the global talk

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Speaker 1: fest with some of the world's biggest named politicians and

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Speaker 1: business leaders attending. You've got BHP CEO Mike Henry will

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Speaker 1: be there so to fortescue Metal's Andrew Forrest. The headline act, though,

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Speaker 1: of course, will be Donald Trump.

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Speaker 2: Yes, it is Trump's first appearance Davos this presidency at least,

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Speaker 2: and there are rumors He's going to announce a significant

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Speaker 2: housing package. Maybe for most of the discussion, no doubt,

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Speaker 2: will be around Trump's plans for Greenland. Over the weekend,

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Speaker 2: he imposed a ten percent tariff on goods sent to

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Speaker 2: the US from Denmark, the UK, France, Germany, the Netherlands

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Speaker 2: and three Scandinavian countries, all close allies. They will remain

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Speaker 2: in place until Greenland is sold to the US. They

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Speaker 2: will increase to twenty five percent from June one. All

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Speaker 2: this came after some NATO membercent troops to reinforce Greenland security.

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Speaker 2: There's a two week delay between now and when the

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Speaker 2: tariffs are introduced, which has become very typical of Trump's

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Speaker 2: negotiating style. There's always negotiations with Trump, notwithstanding that they

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Speaker 2: certainly do escalate the already changed relationship between the US

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Speaker 2: and Europe. Over the weekend, the European letters basically said

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Speaker 2: that the fate of Greenland is up to the citizens

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Speaker 2: of that country. In the Danes, probably quite sensible really,

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Speaker 2: and they just rejected what Trump has said. It's the

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Speaker 2: fifty sixth Annual Meeting of the World Economic Forum, which

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Speaker 2: is what Davos is formally known as. It's got an

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Speaker 2: overriding theme of a spirit of dialogue. See how that

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Speaker 2: one turns out. About three thousand people are due to attend.

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Speaker 2: You've got leaders from all over the place, Canada, Germany,

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Speaker 2: the European Commission, Argentina, Indonesia, Spain. I know the head

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Speaker 2: of Columbia will be there. I'm sure he'd love to

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Speaker 2: get a word with Donald Trump. Ukraine's a lot of means.

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Speaker 2: Zelenski is due to attend. The war with Russia, of course,

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Speaker 2: will be a focus to the meeting, as will Trump's

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Speaker 2: Board of Peace to oversee the reconstruction and governance of

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Speaker 2: postwar Gaza and the I think it's about the third

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Speaker 2: and command from China is heading to Davas, so I'm

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Speaker 2: sure everyone will be waiting to see what he has

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Speaker 2: to say.

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Speaker 1: I love that overriding theme of a spirit of dialogue.

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Speaker 1: That's using four words to say talkfest, isn't it?

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Speaker 2: That is just a nice way. Yeah.

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Speaker 1: Indeed, ahead of flying out to the it's in a

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Speaker 1: Swiss I mean, Davos is a Swiss ski town, like

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Speaker 1: it is a very nice place to hold a talk fest.

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Speaker 1: Andrew Forres had a few rather choice words you'd say

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Speaker 1: about the meeting, seeing the rules based order built from

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Speaker 1: the smoking ruins of World War Two is now breaking down.

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Speaker 2: He warned that it's dangerous when leaders ignored the lessons

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Speaker 2: of history. According to the Finn Review, he said he'd

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Speaker 2: push back against a softening commitment from governments to fight

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Speaker 2: climate change. PHP boss Ken Henry will be speaking on

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Speaker 2: a panel about energy security, while outgoing ambassadors to the

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Speaker 2: US Kevin Rudd, we'll speak on panels about the Japanese

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Speaker 2: economy and US China rivalry. How many years ago, a

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Speaker 2: mid ranking reporter at the Finn Review and the then

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Speaker 2: CEO of Fairfax as it was decided that the senior

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Speaker 2: journalists should go to Davos. So the editor of the

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Speaker 2: Financial Review wait name the Finn Reviews only ever female editor,

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Speaker 2: the absolutely wonderful Colin Ryan Dieger. I've named it. Colin

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Speaker 2: and others went off to Darvos and she said it

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Speaker 2: was fantastic. It was this spectacular experience with the then

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Speaker 2: CEO of Fairfax, Fred Hillmer and others. She's just quite amazing.

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Speaker 1: It would be an incredible experience because there is just

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Speaker 1: so much power and influence concentrated in just one place.

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Speaker 2: I would love to go to Davas.

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Speaker 1: Yeah.

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Speaker 2: Yeah, bucket list.

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Speaker 1: It is a bucket list like it's quite a niche

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Speaker 1: bucket list. I think it's a very fear and greed

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Speaker 1: bucket list thing to do, but still bucket list. Nonetheless.

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Speaker 1: Away from Davos now, Sean Prime Minister Anthony Albanezi has

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Speaker 1: backed down from trying to ram through legislation today and

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Speaker 1: tomorrow the combined gun reform with contentious racial vilification and

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Speaker 1: hate speech provisions, saying it is clear that the Greens

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Speaker 1: and the Coalition will not support the bill in its

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Speaker 1: current form.

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Speaker 2: But easy he said it's a pragmatic step to ensure

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Speaker 2: gun reform passes Parliament, which he of course dramatically recalled

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Speaker 2: for two days about a week ago. The government will

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Speaker 2: proceed with legislation, giving Home Affairs Minister Taineyburke powers to

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Speaker 2: ban ban extremist groups and to reject visas for foreign

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Speaker 2: anti Semites. So that means there's basically two pass to

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Speaker 2: this legislation before Parliament over the next couple of days.

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Speaker 2: The billion dollar gun buyback scheme in the extremist group legislation,

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Speaker 2: which is essentially the hate speech part of the original

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Speaker 2: omnibus bill. However, Labor has shelved the more controversial racial

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Speaker 2: vilification passages.

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Speaker 1: And while we're still in politics, the release of the

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Speaker 1: Liberal Party's review into its disaster stress federal election loss

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Speaker 1: last year has been delayed over accusations that it contains

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Speaker 1: defamatory material about former leader Peter Dutton.

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Speaker 2: So on a day when Opposition leader Susan Lee should

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Speaker 2: have had a win over the racial qalification back down

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Speaker 2: by the Government, much of the news yesterday was about

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Speaker 2: the ever imploding Liberal Party. The ABC reports that Dutton,

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Speaker 2: who received the much awaited election review in advance, has

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Speaker 2: claimed that releasing it in its current form would be

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Speaker 2: inappropriate because it contains claims about him and his staff

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Speaker 2: and he believes are defametry and which would carry a

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Speaker 2: league or could carry a legal risk for the party.

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Speaker 2: You can imagine how much the government loved that one yesterday.

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Speaker 1: Fascinating reading though, Yeah, wouldn't it anyway? Okay, plenty still

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Speaker 1: to cover Sean a big start to the week. Back

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Speaker 1: in a moment with the rest of the day's business news.

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Speaker 1: Sean holidaymakers into Australia surged late last year, while migration

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Speaker 1: fell back. According to the Australian Bureau of Statistics.

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Speaker 2: The data shows that in November last year, short term

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Speaker 2: arrivals are up twenty percent on a year earlier, while

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Speaker 2: permanent arrivals were down seventeen percent. Of Rural Australia recorded

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Speaker 2: one point eighty five million international arrivals in November. That's

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Speaker 2: about eight percent higher than a year earlier. Departures were

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Speaker 2: also up by about seven and a half percent. In

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Speaker 2: that case. What I thought was interesting in these data

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Speaker 2: Chinese tourists are back in the top three. I'd fallen off,

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Speaker 2: but New Zealand, Brits one and two, China coming in

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Speaker 2: at number three. It's fantastic to get such a diverse

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Speaker 2: range of people visiting our country. Also, surgeon visitors from

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Speaker 2: the US, Japan, and South Korea. While the East Coast

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Speaker 2: states get most visitors, there were proportionately more visiting South

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Speaker 2: Australia and Western Australia during the month. Interesting. The big

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Speaker 2: economic news this week is the labor force data for December.

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Speaker 2: The unemployment rates sitting about four point three percent. Wouldn't

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Speaker 2: be surprised if it ticked up a touch last month.

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Speaker 2: I bet the Kook talks about this in the week

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Speaker 2: Ahead Michael.

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Speaker 1: Funnily enough, he does, Sean because it is happening this week,

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Speaker 1: and this comes up after the show. Our resident economist

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Speaker 1: Stephen coculis every Monday for the week Ahead. We talk

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Speaker 1: a lot about jobs, We talk about interest rates, what

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Speaker 1: the Preserve Bank is going to do when it meets

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Speaker 1: in a fortnight, and also quite significantly about what if

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Speaker 1: you're in business, right, if you're in a small or

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Speaker 1: medium sized business or in a larger business, what matters

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Speaker 1: this year, what you need to be watching this year,

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Speaker 1: What is going to signal whether this is going to

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Speaker 1: be a good year for business a bad year for business,

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Speaker 1: and how you prepare for it. So it's coming up

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Speaker 1: after the show. Speaking of the week ahead, how's the

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Speaker 1: ax shaping up for the weak ahead?

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Speaker 2: Shawn Futures Training suggests it will open flat after last

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Speaker 2: week's two percent gain. Broadly, the mining stocks have done

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Speaker 2: best so far this year, and the asexas outperformed Wall Street,

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Speaker 2: of course, after a couple of years of underperformance. So

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Speaker 2: far in twenty twenty six, the Materials index is up

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Speaker 2: a whopping eight percent as commodity prices including gold, silver, lithium,

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Speaker 2: and other battery metals surge. The worst performing sub disease

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Speaker 2: and utilities and tech financials are flat so far this year.

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Speaker 2: Just in case you're back in the office for the

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Speaker 2: first time, you haven't been following the exciting race between

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Speaker 2: CBA and BHP. Will the Big Australian overtake the Big

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Speaker 2: Bank as the largest company on the burse? It's now

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Speaker 2: just nine billion dollars smaller and closing with three billion dollars.

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Speaker 2: I think last Thursday pretty remarkable given middle last year

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Speaker 2: was about fifty percent smaller and now it is closing

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Speaker 2: and closing fast.

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Speaker 1: That is amazing, isn't it. It's just a great story

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Speaker 1: to watch. Now catching up on some of the news

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Speaker 1: from late last week, four point seven million social media

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Speaker 1: accounts have been deactivated under the government's social media ban

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Speaker 1: for under sixteen year olds. That's a lot more than

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Speaker 1: I was expecting.

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Speaker 2: Yeah, so Communications Minister Annaka Wells said there are about

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Speaker 2: one point two million thirteen to sixteen year olds in Australia,

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Speaker 2: so four point seventy one point two what's that? Four

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Speaker 2: social media accounts per child and given a lot of

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Speaker 2: them wouldn't have diagony. You're right, that's a huge number,

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Speaker 2: isn't it.

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Speaker 1: Yeah.

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Speaker 2: She also actually made a real effort, I think fair

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Speaker 2: enough to acknowledge the impact the policy has had on

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Speaker 2: many of those young Australians. Eight social media sites have

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Speaker 2: been affected, though only Metal, which has Facebook, Instagram and Threads,

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Speaker 2: has released data. It said five hundred and forty thousand

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Speaker 2: accounts were shut down. That means the another four million

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Speaker 2: from the others. The numbers don't said to be adding

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Speaker 2: up here as we're doing this, but these are the

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Speaker 2: government figures, so I'm not who am I to question it.

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Speaker 2: The Prime Minister Anthony Albanezy he said wild change doesn't

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Speaker 2: happen right, the band is working, No, I mean.

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Speaker 1: Like those numbers from Meta, I can't imagine there are

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Speaker 1: a lot of young people on Threads for instance. Yeah,

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Speaker 1: and Facebook is kind of fading a little bit, particularly

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Speaker 1: in that in that demographic I mean you add in

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Speaker 1: suddenly TikTok and you add in Snapchat, which are obviously

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Speaker 1: the big ones for that demo, that maybe the numbers

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Speaker 1: do make sense. Sean very exciting time. The Australian Open

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Speaker 1: tennis tournament, known as the Happy Slam, kicked off in

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Speaker 1: Melbourne yesterday. Around one point two million people expected to

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Speaker 1: view the competition for one hundred and eleven point five

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Speaker 1: million dollars in prize money.

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Speaker 2: Ah. Yes, the cues yesterday were huge. All this debate

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Speaker 2: about not enough money. What I'm wondering is what does

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Speaker 2: it mean for your Wednesday night tennis games? Michael, You're

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Speaker 2: the tennis man in this duo.

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Speaker 1: Becomes very fierce and very competitive because suddenly everyone's inspired

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Speaker 1: by the tennis and everyone's trying to play a whole

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Speaker 1: lot better and just going, hey, you know what, maybe

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Speaker 1: that could be us out there.

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Speaker 2: Yeah, you'd be the Venus Williams I reckon of the two.

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Speaker 1: Welder please but still but still, flashes are brilliant.

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Speaker 2: That's right, that's right. Of course, it's one of the

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Speaker 2: four Grand Slam tournaments in tennis. The other's been Wimbledon,

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Speaker 2: the French Open and the US Open. Takes place started yesterday,

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Speaker 2: finishes a fortnight from yesterday, so it takes place over

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Speaker 2: a couple of weeks. Prize money has been a contentious

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Speaker 2: issue this year. Organized to say, the money out for

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Speaker 2: grabs is sixteen per cent higher than last year. The

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Speaker 2: winner of the tournament gets four point one million dollars.

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Speaker 2: Anyone knocked out in the first round you always feel

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Speaker 2: sorry for him one hundred and fifty thousand bucks. Not bad.

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Speaker 2: While nowadays the Australian Open is anonymous with Melbourne, particularly

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Speaker 2: you know, end of January Melbourne. Nothing better. In its

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Speaker 2: one hundred and twenty one year history, it's been played

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Speaker 2: in Sydney, Adelaide, Brisbane, Perth, and twice the Australian Open

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Speaker 2: was played in New Zealand.

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Speaker 1: No Yeah.

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Speaker 2: Trivia Couyong Lawn Tennis Club in Melbourne, of course, became

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Speaker 2: its permanent home in nineteen seventy two. Basically they decided

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Speaker 2: to keep it in melbournecause more people turned up to

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Speaker 2: watch it and so they said, well Melbourne you can

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Speaker 2: have it. Then a nine to eighty eight moved to

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Speaker 2: its current home of Flinders Park. I don't know if

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Speaker 2: you've ever been down there. I'd try and go. I mean,

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Speaker 2: I'm not going this year, but wow, it's an incredible event.

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Speaker 1: And it's so well run. It is great. I don't

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Speaker 1: know if you're poking around on the TV on Saturday

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Speaker 1: night at all Shawn the night before it officially kicked off.

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Speaker 1: And the exhibition match, which I reckon is the best

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Speaker 1: exhibition match I reckon I've ever seen, because you had

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Speaker 1: on one team one side Pat Rafter and Leyton Hewitt

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Speaker 1: up against on the other side Roger Federer and Andre Agassy,

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Speaker 1: and then Agasy stepped out and Ash Barty came in

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Speaker 1: and it was just amazing. It was just great fun

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Speaker 1: and some amazing tennis to watch. Absolutely loved it. Anyway,

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Speaker 1: enough about the tennis, turning to international news. Now, the

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Speaker 1: big banks in Australia having a bit of a rocky

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Speaker 1: start to the year. But on Wall Street, On Wall Street, Shawn,

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Speaker 1: the six biggest lenders are having a great time cutting costs,

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Speaker 1: hitting record highs in share price terms, and combined paying

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Speaker 1: out a record one hundred and forty billion US dollars

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Speaker 1: in dividends and buybacks last year.

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Speaker 2: The six largest firms JP, Morgan Chase, Bank of America,

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Speaker 2: City Group, Wills, Figo, Goldman Sachs and Morgan Stanley had

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Speaker 2: a combined one point one million employees at the end

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Speaker 2: of December. So there, you know, massive employees and the

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Speaker 2: trickle down effect is big. But they're actually losing staff

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Speaker 2: through about ten thousand lower than previously, down on the

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Speaker 2: lowest level since twenty twenty one, so that's sort of

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Speaker 2: the cost cutting side. JP Morgan Chase itself repurchased thirty

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Speaker 2: billion US dollars of stock which they hire for Wall

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Speaker 2: Street banks last year. Goldman Sachs has reported record December

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Speaker 2: quarter earnings, its share price at a new record been

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Speaker 2: among the best performers of the banking stocks this year.

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Speaker 2: Relying JP, Morgan Chase, Bank of America, Wells, fire Go

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Speaker 2: all hit record share price levels. We did it twelve

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Speaker 2: months ago. The US banks are doing it now.

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Speaker 1: All right. The one last one Seawan the revival rate

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Speaker 1: for cancer patients. There's now seventy percent five years after diagnosis.

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Speaker 1: That's up from just fifty percent in the mid seventies,

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Speaker 1: meaning that in a lot of cases, cancer is becoming

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Speaker 1: more of a treatable chronic disease rather than a death sentence.

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Speaker 2: Yes, I mean it's nice to have some good news

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Speaker 2: to finish the show on ye. That's the fining from

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Speaker 2: the American Cancer Society, which says it reflects both advances

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Speaker 2: and treatment of cancers and earlier diagnosis. Also, less people

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Speaker 2: are smoking. The American Cancer Society estimates at four point

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Speaker 2: eight million cancer deaths were prevented four point eight million

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Speaker 2: between nineteen ninety one and twenty twenty three. Now, having

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Speaker 2: said all that, there will be about two point one

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Speaker 2: million new cancer cases this year. That's almost six thousand

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Speaker 2: diagnoses each day in the US. For women, incidents is

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Speaker 2: highest for breast cancer, which is diagnosed more than twice

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Speaker 2: as often as the second ranking lung cancer. Fortunately, breast

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Speaker 2: cancer survival rates have risen to ninety two percent. For men,

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Speaker 2: highest incidents is prostate cancer, which is diagnosed twice as

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Speaker 2: often as the second ranking lung cancer. Prostate cancer survival

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Speaker 2: now ninety eight percent. It's fantastic. The law of survival

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Speaker 2: rates remain. Pancreatic cancer, liver cancer, and lung cancer.

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Speaker 1: Okay, Up next is Fear and Greed The week Ahead

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Speaker 1: This afternoon, we've got the Afternoon Report, and we've got

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Speaker 1: the Fear and Greed Newsletter back today head on to

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Speaker 1: Fearangreed dot com dot au to sign up, and I'll

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Speaker 1: put a link in today's show notes. Thank you Sean.

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Speaker 2: Thanks Michael.

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Speaker 1: It's Monday, the nineteenth of January twenty twenty six. Make

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Speaker 1: sure you're following the podcast and please join us online

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Speaker 1: on LinkedIn, Instagram, ex TikTok and Facebook. I'm Michael Thompson

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