Today’s News

The Big Picture

• Labor establishes $1bn high-tech military fund. The federal government will contribute up to $500 million alongside private capital to invest in the domestic defence industry. It will target AI, quantum computing and undersea warfare. Australia has seen defence tech wins recently, including DroneShield and Anduril’s submarine manufacturing facility. (AFR)
  
  

• Real wage growth goes negative as inflation soars. The Australian Bureau of Statistics announced nominal wages grew 3.4% in the 12 months ended December. Inflation was 3.8% over the same period, indicating negative real wage growth and highlighting the impact of Australia’s high inflation. (AFR)

• Private health premiums to rise at fastest rate in eight years. The federal government approved a 4.41% average increase starting April. NIB and Medibank shares rose 4.5% and 6% on the news. (AFR)

  
  

• UK unemployment hits five-year high. The quarter ended December saw unemployment hit 5.2%, driven by unemployment of 16.1% for 16- to 24-year-olds. The Australian dollar rose to a 19-month high against the British pound on the news. (BBC)
  
  

• Germany’s population set to shrink 5%. A German think-tank has revised its estimate out to 2050 from a 1% drop to a 5% drop. The working age population - people between 20 and 66 - is expected to drop by 12%. (FT)
  
  

• "Long gold” reigns supreme with fundies. For the second consecutive month, the most popular trade theme by global fund managers was on gold to continue to rise, according to Bank of America. 51% and 50% of fund manager trades were long gold in January and February, respectively. (AFR)

Companies in the news

• Warner Bros reopens negotiations with Paramount. After accepting Netflix $83bn offer for streaming and studio, Paramount came in with $108bn for the whole company. While initially resistant to reopening negotiations, WB has given Paramount one week to finalise an offer. (Guardian)
  
  

• Kerry Stokes still wants BlueScope. The Australian billionaire and his American partner have upped their takeover offer by $1 billion to $14.2 billion for Australia’s largest steel producer, just after BlueScope rejected the previous offer. (AFR)
  
  

• Bayer settles lawsuit against cancerous weedkiller. The German biotech giant has offered $7.2 billion to settle a lawsuit alleging its Roundup weedkiller causes cancer. Bayer has already paid roughly $10 billion in settlements relating to Roundup. (BBC)
  
  

• Santos to cull workforce amid poor profits. Australia’s second-largest oil and gas producer will cut 10% of its workforce, or 400 jobs, following a 35% drop in profits. (AFR)
  
  

• NAB’s record quarter boosts stock. The bank grew quarterly net profit by 30% to $2.2 billion. NAB, Australia’s top business bank, also grew business loans by 7%. The stock rose 5% on the results. (AFR)

What the…?

GLP-1s in high demand amongst US adults. Nearly one in five American adults have used GLP-1s, despite over half of American users finding it difficult to afford the weight-loss drugs. One in eight Americans are currently using a GLP-1, with 97% of current users having diabetes, heart disease, or being overweight or obese.

Most American users struggle to pay for the vital drugs. It’s no wonder — popular GLP-1s like Ozempic can cost between $900 and $1,000 per month in the US, a stark contrast to the $31.60 for PBS-supported Ozempic in Australia. (KFF)

Today’s Insight

In it for the long haul

We recently sat down with Gemma Mitchell, author and financial adviser with Rask. One of the most refreshing ideas from this conversation was Gemma’s reminder that personal finance isn’t just about doing the perfect thing every time, it’s about building a system that actually works for your life.

Many of us assume discipline is always the goal, meaning we’re tracking every dollar, optimising every account, maximising points, and checking investments constantly. Gemma points out that even the perfect money habits can become unhealthy when they turn into obsession, anxiety, or pressure. What looks smart financially can sometimes make you feel worse, not better.

Sometimes forfeiting a bit of perfection is worth it if it means you stay more engaged with your finances for longer by avoiding self-imposed financial exhaustion. Sometimes the best money plan isn’t the most efficient one, it’s the one you can stick with when motivation fades.

Gemma’s message was clear: Money should support your life, not consume it. The goal isn’t perfection, it’s alignment, flexibility, and a healthier relationship with your finances over the long term.

Want to improve your relationship with money and talk to a financial adviser? Fill out the form on our website and we’ll match you with one of our hand-picked advisers.

Today in Equity Mates