Today’s News

The Big Picture

• Food relief demand surges across Australia. About 1 in 3 Australians using food relief services are doing so for the first time, with around 350,000 people seeking help each month, according to OzHarvest. Demand is rising sharply, with charities turning away more than 74,000 people monthly, while a third of households are now food insecure. Families and single parents make up the majority of those seeking support. (ABC)
  
  

• Government confirms increased fuel stocks. Energy Minister Chris Bowen says Australia now has 46 days of petrol supply, up 10 days since the Iran conflict began. But globally, tensions remain high, with Iran saying the Strait of Hormuz cannot reopen while a US naval blockade is in place. Meanwhile, upheaval continues in Washington, with the US Navy’s top civilian official reportedly fired amid internal tensions at the Pentagon. (ABC | The Guardian)
  
  

• Marijuana shares jump on US policy shift. The US is expected to reclassify marijuana, a major policy shift that would loosen restrictions and boost research into the drug. The change would move cannabis into a less dangerous category, alongside drugs like ketamine and some painkillers. Shares in Canopy Growth jumped 23% and Tilray Brands rose 15%. (Reuters)
  
  

• Former PM Rishi Sunak warns AI is squeezing young workers. The ex-UK prime minister says artificial intelligence is making it harder for young people to land entry-level roles as companies slow hiring. Now advising firms like Anthropic and Microsoft, Sunak says business leaders are privately acknowledging AI is replacing some junior jobs, and has urged governments to cut hiring costs to keep opportunities open. (BBC)

Companies in the news

• Microsoft commits $25bn to Aussie data centres. The tech giant will invest a record amount by 2028 to expand data centres and digital infrastructure nationwide, alongside funding for cyber security and training 3 million Australians in AI skills. Announcing the investment in Sydney, CEO Satya Nadella said AI will reshape the job market, but the impact can be positive if companies and governments work together. (AFR)
  
  

• Canadian exchange operator targets ASX with Cboe deal. Toronto-based TMX Group has agreed to buy Cboe’s Australian and Canadian businesses for $419m, marking a major push into the local market. The move sets up a direct challenge to ASX, which has faced mounting scrutiny over governance and system issues. (AFR)
  
  

• Tesla triples spending on AI and robotaxis. Elon Musk says Tesla will ramp up investment to $25bn this year, nearly triple last year’s spend of $8.5bn, as it doubles down on self-driving taxis, robots and a new chip factory. The move comes as the company shifts focus beyond cars, with those new ventures yet to deliver meaningful revenue. (FT)
  
  

• Trump family crypto company hit with lawsuit. World Liberty Financial is being sued by billionaire investor Justin Sun, who alleges the company tried to seize his tokens in an “illegal scheme.” Sun claims the firm, co-founded by Donald and Eric Trump, froze his holdings and stripped his voting rights in the project’s governance. (BBC)
  
  

• Switzerland forces UBS to raise $20bn in capital. New banking reforms will require UBS to boost its capital buffers after the collapse of Credit Suisse, including stricter backing for its foreign operations. UBS has criticised the move as “extreme,” warning it could have broad impacts on the Swiss economy. (FT)
  
  

• Boeing retakes aircraft lead from Airbus. The US aircraft manufacturer delivered more planes than its European rival Airbus for the first time since 2023. The result helped lift revenue 14%, marking Boeing’s largest lead since 2018 as Airbus continues to grapple with supply chain issues. (FT)

What the…?

3,000+ Irish pubs called by AI agent to track the price of Guinness. The Irish government stopped tracking the price of a pint of Guinness 14 years ago, so Matt Cortland, an Irish/American AI engineer took matters into his own hands. He built an AI agent named Rachel with a warm Northern Ireland accent to call thousands of pubs and ask a simple question: How much for a pint of Guinness?

The result is ‘The Guinndex,’ a live price tracking website showing the all-Ireland average pint price for Guinness. The website is currently under maintenance due to the high volume of views but Matt released a YouTube video where in March the average price was €5.97 for a pint. One pub has even dropped its prices after being listed. Built with Claude, the site also offers a deep dive into Ireland’s pub scene, including lists like “pints under €5,” “most expensive pints,” and even how many pubs are named after different animals. The video is well worth a watch if you’ve got a spare 10 minutes. (The Guinndex YouTube video | The Guinndex Website | VICE)

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Today’s Insight

Top Aussie Fund Manager Holdings

On a recent episode of Equity Mates Investing Bryce and Ren unpack some of the top holdings for some of Australia’s leading global fund managers (Spotify | Apple | YouTube)

Bryce: So we call this segment Cheat Sheet. We look at what some of the best investors around the world are investing in to hopefully get some ideas for ourselves. We've pulled the top 13 Australian fund managers who are picking global equities and this is as of February 2026.

Ren: We've looked at their top holdings and we've said, where are the commonalities there?

Bryce: So unsurprisingly, the top holdings are big tech. Amazon is the most commonly held with 10 of the 13 funds holding it. Microsoft, 9 of the funds hold it, and then Meta, 6 of the funds hold it.

Ren: Alphabet is also on the list, with 4 funds holding it. Apple is there with 3 and Nvidia, 4 of the funds holding it. So the only one of the Magnificent Seven that isn't in the top, Tesla. What about some of the other non-Magnificent Seven names?

Bryce: So Taiwan Semiconductor, TSMC, 5 of the funds hold it. Then Visa, 5 of the funds holding Visa. More funds of those that we looked at hold Visa than they do Nvidia.

Ren: And then MasterCard is the final one, 3 hold MasterCard.

Today in Equity Mates