Today’s Top Stories

Only got a couple of minutes? Here are the key stories you need to know.

• Denmark & US report “fundamental disagreement” in Greenland talks. Denmark’s foreign minister told reporters that US President Donald Trump had insisted on “conquering” Greenland, a position the minister labelled “totally unacceptable.” Officials from the United States, Denmark, and Greenland have agreed to continue discussions. (BBC)

  
   

• X to block Grok AI from creating sexualised images. After weeks of scrutiny, X has implemented changes to Grok AI, preventing users from editing or generating nude images of real people. The restrictions apply to all users, including paid subscribers. Elon Musk posted on X that the tool “will refuse to produce anything illegal.” (Financial Times)

  
  

• China posts record-high trade surplus. Despite an ongoing trade war with the US, China recorded a trade surplus of US$1.2 trillion in 2025 as exports rose 5.5%. For context, Australia’s total GDP is expected to be around US$1.8 trillion, meaning China’s net exports alone are almost as large as the entire Australian economy. (ABC)

What’s Making News?

Australia

• Rental growth slows as tenants hit affordability limits. Rental prices in Melbourne, Adelaide, Perth, and Darwin were flat or declined over the past three months, according to a report from Domain. The report also found that an income of more than $100,000 was required in most cases to cover weekly household expenses due to elevated rent levels. (ABC)

  
  

• Rio Tinto and BHP sign iron ore agreement. Rio Tinto and BHP have agreed to collaborate on extracting up to 200 million tonnes of iron ore from their neighbouring operations in the Pilbara. (The Australian)

  
  

• Bonds underwear parent company put up for sale. HanesBrands Inc, which owns Bonds, Bras N Things, and Sheridan, has been put up for sale by its owner, Gildan Activewear. HanesBrands acquired Bonds, Sheridan, and lingerie maker Berlei in 2016 for $1.1 billion. (AFR)

Global

• US retail sales beat expectations. US retail sales rose 0.6% in November, beating economists’ forecasts. However, some analysts are concerned the growth has been driven primarily by wealthier households, with lower-income consumers struggling with rising living costs. (Reuters)

  
  

• Lithium breaks US$2,000 for the first time in two years. Prices have risen as demand for electric vehicles and energy storage continues to grow. Barrenjoey expects energy storage system battery shipments to increase by 40% this year, driven by improved economic efficiencies and increased government support. (AFR)

  
  

• Saks files for bankruptcy protection. The parent company of Saks Fifth Avenue has filed for bankruptcy after struggling to service its debt following the US$2.7 billion acquisition of Neiman Marcus in 2024. (CNBC)

  
  

• FC Barcelona becomes the world’s most indebted football club. FC Barcelona has accumulated €2.5 billion in debt, according to the club’s treasurer. The majority stems from the redevelopment of the historic Camp Nou, which required €1.5 billion in long-term financing. (New York Times)

What’s got us thinking

Investing is a lifelong journey. Here’s what we’ve been learning lately.

Thinking Long Term: Lehman Brothers Example

This was taken from a conversation between Bryce and Ren on the recent Essentials series with the episode titled ‘Essentials: The Fundamentals of Good Investing’ (Spotify | Apple | YouTube)

Ren: When you think long term and you think in decades, not days, whether you invest now or six months from now, the point is in a decade from now, two decades, three decades from now, you can be confident that the market's going to continue grinding higher. I think an example that we often talk about to really illustrate that point is the Lehman Brothers example.

Bryce: Yes, so the Lehman Brothers, for those who are unfamiliar, it was the start of the global financial crisis back in 2008. The bank collapsed due to the GFC and it collapsed on a Monday. If you had invested on the Friday before in the bank, arguably that would've been the worst possible time to invest as what occurred just after you’d invested was a 50% fall in the stock market.

Ren: Yep, so in the next six months, you lost half your money.

Bryce: But if you’d held from that Friday for the next 10 years, you would've doubled your money. So you've suffered a 50% drawdown, but then eventually doubled your money.

Ren: Yeah. It's gone all the way down, all the way back and then kept going.

Bryce: If you'd reinvested your dividends throughout that period, which side note another rule, you should definitely do that. You would have almost tripled your money from that point in time. So I think what we're showing here is time in the market is more important than timing the market, a classic saying. Thinking long-term allows you to ride out this volatility, allows you to ride out points in time in the market where you're suffering these huge drawdowns and inevitably the market always recovers.

Ren: And that example shows that even investing at the worst time is better than not investing at all if you're thinking long-term.

A message from PocketSmith

It’s one thing to say “I should invest more this year” and another to know the number that actually works for you. PocketSmith pulls in your bank accounts and cards, auto-categorises your transactions, and shows you exactly what you spend, save and have left over. You can then test “what if I invest $X a month?” using PocketSmith’s calendar and forecasting tools, and see how it fits around your bills, goals and buffers before you commit. Add your investment accounts and track your net worth in the same place, so you can watch the impact of those regular contributions over time.

Right now, PocketSmith is offering 50% off the first 2 months of a Foundation Plan. To try PocketSmith for yourself and claim this deal, head to pocketsmith.com/equitymates

What the…?

A look at one story that has us scratching our head

Want more Equity Mates?