1. Australian borders reopen after almost two years
Fortress Australia will come to a close on February 21 as the national cabinet permitted the reopening of Australia’s borders to international travel after almost two years of covid induced restrictions. However, the Morrison government will not use this opportunity to catch up on its immigration numbers, opting to keep the annual intake capped at its pre-covid levels. “We want to be sure in taking the next step we wouldn’t be overloading the hospital system and the chief medical officer (Paul Kelly) was able to give us good confidence that ... we’ve already moved past that peak,” Prime Minister Morrison said.

2. Meta (Facebook) threatens Europe over data transfer protocol
The social media giant issued the warning in its annual report last Thursday, which stated: “If a new transatlantic data transfer framework is not adopted and we are unable to continue to rely on SCCs (standard contractual clauses) or rely upon other alternative means of data transfers from Europe to the United States, we will likely be unable to offer a number of our most significant products and services, including Facebook and Instagram, in Europe.” Regulators in Europe are currently drawing up new legislation that will dictate how EU citizens’ user data gets transferred across the Atlantic. “In July 2020, the European Court of Justice ruled the data transfer standard between the EU and the U.S. doesn’t adequately protect European citizens’ privacy,” CNBC reports.

3. Germany criticised for lagging on Ukraine-Russia fallout
As many neighbouring allies and global powers such as the US divert significant resources into staving off war between Russia and Ukraine, Germany has been told to “wake up” and provide much-needed support. However, Germany has refused to send military hardware to Ukraine, resting in a bind between its complex relationship with Russia as it is still a reliable source of energy to the nation, with the current rise in energy prices making matters worse.

4. Comedian Joe Rogan comes under more fire for saying the n-word on his podcast
Joe Rogan, the man who arguably turned podcasts mainstream and went on to sign a US$100 million deal with Spotify to hold the exclusive rights to his show, has received more scrutiny this week following a montage of him saying the N-word in previous episodes. Both Rogan and Spotify have come under recent pressure from listeners who claim that the show peddles unfounded anti-vaxxer claims, with this new video only adding fuel to the fire. Famous actor Dwayne “The Rock” Johnson retracted his support for Rogan over the covid misinformation controversy after hearing of his N-word use.

5. ASX poised for flat open following mixed signals from Wall St
Australian shares are set to open little changed after Wall Street rose in choppy trading before a big week for earnings. ASX futures were up 0.2% to 7026 at 7am AEDT. The local currency was up 0.4 per cent to 71.09 US cents. On Wall St: Dow +0.1%, S&P 500 -0.3%, Nasdaq -0.3%. 2-year yield: US (1.30%) Australia (0.98%) 10-year yield: US (1.91%) Australia (1.99%).