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.

Vanuatu’s Minister for Climate Change, Ralph Regenvanu, has emerged as one of the Pacific’s most influential and principled public figures, combining political leadership with cultural advocacy and a sustained commitment to climate justice. In an exclusive interview with SBS, he said that current issues with fuel security and supply wouldn’t influence the negotiations between Australia and Vanuatu to finalise the Nakamal agreement. The treaty, initialed in August last year but not finalised, aims to enhance economic, security and cultural cooperation between the two countries. He told SBS’s Rayane Tamer that the current fuel crisis presents Australia with a unique opportunity to become an alternative energy superpower

Airfares are set to climb as Virgin Australia cuts flights to manage rising fuel costs, while Qantas flags a sharp increase in its fuel bill, reshaping travel plans for Australians. Phoebe Deas speaks with Ellis Taylor from Cirium on what these changes mean for the aviation sector, as new data reveals Japan has overtaken Indonesia as Australia’s second most popular destination, helped by a stronger exchange rate. Meanwhile, the ASX closes slightly higher, with insight from Scott Phillips of The Motley Fool on the market’s mixed performance.

Pope Leo the Fourteenth is on a historic tour of Africa, a journey spanning four countries, thousands of kilometres, and a continent that is now central to the future of the Catholic Church. From Algeria to Cameroon, Angola and Equatorial Guinea, the visit is being described as both pastoral and political.

Israel and Lebanon have agreed to formally launch direct negotiations with one another after historic talks in Washington, mediated by the United States. The first direct talks between the two countries in more than three decades have been characterised as a diplomatic milestone. But, negotiations have been overshadowed by conflicting agendas, and ongoing fighting.

After Prime Minister Albanese’s whistle-stop visit to Singapore, the future of Australia’s fuel supplies looks a lot more secure as the ripples from the Straits of Hormuz spread outwards. Last week Anthony Albanese met with his Singaporean counterpart Lawrence Wong in Singapore. The two signed off on a new bilateral trade agreement, under which Australia would guarantee Singapore’s supply of liquefied natural gas, and Singapore would prioritise the flow of refined petroleum to Australia. Singapore is Australia’s largest source of refined petrol. SBS's Naveen Razik secured an exclusive interview with Singapore's Energy Minister Dr. Tan See Leng about our energy partnership and the wider consequences of the current crisis in the Strait of Hormuz.

Opposition leader Angus Taylor has outlined the Coalition's new hardline immigration policy. The plan has drawn widespread criticism and strong condemnation from critics, including Labor and human rights groups.

The ASX edges higher despite fresh warnings from corporate Australia, with Qantas and Westpac flagging the financial impact of the Middle East conflict as cost pressures build. Ricardo Gonçalves unpacks the latest market moves and what they mean for inflation and interest rates, speaking with NAB Chief Economist Sally Auld and LGT Wealth Management CIO Scott Haslem, while new data reveals rental stress has hit record levels. Cotality’s Head of Research Gerard Burg joins to explain why Australians are now spending more than ever on housing and what’s driving the shortage.

Australian consumers will be paying a temporary fuel surcharge for their Uber trips if they choose to ride in a petrol or hybrid car. The new measure will begin from Wednesday, and end on June 8. It comes at a time when the transport sector is introducing fee adjustments to cope with the ongoing fuel crisis.

Hungarian voters continue to celebrate after ousting Prime Minister Viktor Orbán after 16 years in power. The election result was a rejection of his authoritarian, far-right agenda in favour of pro-European challenger Peter Magyar. But for the new leader, the coming months won't be easy.

A US naval blockade on all maritime traffic through Iranian ports in the Strait of Hormuz has come into effect, after a deadline passed for a ceasefire deal and reopening of the passage. US President Donald Trump says any Iranian ships that challenge the blockade will be sunk, as Iran blames excessive demands from the U-S for stalling a resolution to the conflict.

Eight people have been recognised for their bravery during the Bondi Junction shopping centre attack. Governor-General Sam Mostyn announced the special honours to mark the two-year anniversary.

The ASX edges lower as oil prices climb above US$100 amid escalating Middle East tensions, raising fresh concerns about inflation and growth. Armina Rosenberg from Minotaur Capital breaks down whether AI-driven investing can make sense of geopolitical shocks, while Deloitte Access Economics partner David Rumbens warns Australia could be edging closer to recession, even if the conflict eases. With markets still near record highs but volatility building, this episode unpacks the risks shaping the economic outlook and what it means for investors and households.

Marathon talks between the United States and Iran have failed to reach a deal to end the war, jeopardising a fragile two-week ceasefire. The collapse of peace negotiations, and U-S plans to blockade the Strait of Hormuz, have rattled an already-tense region and raised fears of renewed fighting.

Australia is stepping into a new phase of its military evolution, producing a type of high-precision, sniper-like missile on home soil for the first time. Along with the United States, it is now one of the only nations manufacturing these guided weapons. Defence Industry Minister Pat Conroy tells Cameron Carr why the federal government believes a sovereign missile industry is so important.

India is about to conduct the world’s largest census of its predicted 1.4 billion population after a five year COVID-initiated delay, budgeted for almost two billion Australian dollars.More than 3 million paid surveyors, including school teachers and government officials, will head out and knock on each door in India’s hundreds of thousands villages and cities, as the task unfolds with questions around process, data security and the government claim that caste will be included for the first time since the 1930s.