SBS News In Depth

The Australian Government has unveiled the 2026 National Defence Strategy, outlining reprioritised investments in drones, missile defence and undersea warfare capabilities. While the government claims the new strategy includes record defence spending allocations, the opposition has accused Labor of artificially inflating the numbers.

The ASX eases despite strong leads from Wall Street, while Australia’s unemployment rate holds at 4.3 per cent and companies grapple with rising costs. Ricardo Gonçalves speaks with HSBC Chief Economist Paul Bloxham on what the latest labour market data means for interest rates, and with David Lane from Ord Minnett on the day’s market moves. Plus, Mark Thirlwell from the Australian Institute of Company Directors explains why artificial intelligence and productivity pressures are keeping business leaders awake at night.

US-Iran talks collapse, and China feels the pressure over President Trump’s blockade in the Strait of Hormuz. Plus, a stunning election victory signals a new era for Hungary and how Australia is helping to fuel Colombia’s drug trade.

U-S President Donald Trump continues to talk up prospects for an end to the war in the Middle East. In media interviews, he has told the world to watch out for an amazing two days ahead of new ceasefire talks, while U-S forces continue their blockade on vessels leaving Iranian ports. But Israel's campaign in Lebanon is casting doubt on prospects for peace.

A new Human Rights Commission report highlights the devastating impacts of discrimination against communities in Australia - targetting Jewish, Muslim, Palestinian, Arab and Israeli communities - since the October 7, 2023 attacks. The federal government is facing urgent calls to implement the National Anti-Racism Framework - which they've had access to for almost two years - to combat racism.