StockTake: Brightstar Resources
Stockhead's Tylah Tully unpacks the latest from Brightstar Resources (ASX:BTR), who have executed a MoU with Paddington Gold to purchase a minimum of 1.5 million tonnes of ore from a Menzies gold project in WA now being developed into the company's third underground mine.
Watch the video to learn the details
This video was developed in collaboration with Brightstar Resources, a Stockhead advertiser at the time of publishing.
This video does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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News.com.au
an hour ago
- News.com.au
Penny Wong to meet Quad counterparts in Washington
Australia's chief diplomat will meet her Quad counterparts in Washington this week as the Trump administration looks to ramp up pressure on China. The Quad, made up of Australia, India, Japan and the US, is a partnership broadly seen as a check on China's economic and military might. Foreign Minister Penny Wong said the upcoming dialogue reflected the challenges facing the Indo Pacific. 'This will be the second Quad Foreign Ministers' Meeting within six months, reflecting the importance of our partnership and the strategic circumstances confronting our region and the world,' she said in a statement. 'I look forward to engaging with my Quad counterparts as we strengthen cooperation to ensure a peaceful, stable and prosperous Indo-Pacific.' Senator Wong also said she would 'meet separately with each of my counterparts … to progress bilateral cooperation'. The meeting comes as pressure mounts on the Albanese government to bolster Australia's alliance with the US. Nearly six months have passed since Donald Trump's inauguration and Anthony Albanese is yet to secure an in-person meeting with the US President. Australian producers have been slugged with tariffs on most exports to the US, including duties of up to 50 per cent on steel and aluminium, and doubts loom large about the Trump administration's commitment to AUKUS after it launched a snap review of the defence pact. The Albanese government has also refused to budge after Washington's call to hike defence spending to 3.5 per cent of GDP amid alarm over China's military build-up. In her statement, Senator Wong stressed the US 'is our closest ally and principal strategic partner'. 'Our alliance contributes to the peace, prosperity and stability of our countries and the region we share,' she said. 'We will continue to work together to further our important economic and security partnership and advance our mutual interests.' Former US president Joe Biden was last year caught on a hot mic telling his fellow Quad leaders that China was 'testing' them, giving a rare glimpse into the candid nature of talks between some of the region's key players. 'We believe (Chinese President) Xi Jinping is looking to focus on domestic economic challenges and minimise the turbulence in China's diplomatic relationships, and he's also looking to buy himself some diplomatic space, in my view, to aggressively pursue China's interest,' Mr Biden said. 'China continues to behave aggressively, testing us all across the region, and it's true in the South China Sea, the East China Sea, South China, South Asia and the Taiwan Straits. 'It's true across the scope of our relationship, including on economic and technology issues.' Mr Biden's bluntness was a stark contrast of how leaders of all Quad countries have tried to frame the strategic four-way dialogue, often deflecting suggestions that it exists to counter China. The hawkish approach to Beijing has been adopted by the Trump administration, with US Defence Secretary Pete Hegseth earlier this month warning of an 'imminent' threat to the Indo Pacific. Mr Hegseth said China could invade Taiwan as early as 2027. Such a move would deal a major blow to global supply of semiconductors – crucial components in modern tech – and massively disrupt vital trade routes. 'Let me be clear, any attempt by Communist China to conquer Taiwan by force would result in devastating consequences for the Indo-Pacific and the world,' Mr Hegseth said. 'There's no reason to sugarcoat it. The threat China poses is real and it could be imminent. 'We hope not but certainly could be.' Meeting with Deputy Prime Minister Richard Marles on the sidelines of the conference, he directly asked Australia to boost the defence budget to 3.5 per cent of GDP.
ABC News
an hour ago
- ABC News
Grattan Institute pitches blueprint to 'save' NDIS as foundational supports rollout stalls
A new report has recommended four policy changes to "save" the National Disability Insurance Scheme (NDIS), as federal and state governments continue to negotiate a funding deal for a new tier of services to be set up outside the scheme. That new system — called foundational supports — was agreed to in 2023 and initially slated to begin by July 2025, but those services are still a long way off and yet to be properly defined. The Grattan Institute's report, released on Sunday evening, posited that a "rebalancing" of current NDIS spending could help save tens of billions of dollars while also making sure more people outside the scheme could get support. The NDIS has been projected to cost $48 billion this financial year, before overtaking spending on defence by 2026-27 and reaching $63 billion by 2028-29. However, most Australians with disability are not supported by the scheme. The NDIS' 717,000 participants account for about 13 per cent of the estimated 5.5 million Australians with disability. The Grattan report has called for "firmer boundaries" clarifying who the NDIS was for, changes to how claims were managed to make outcomes more consistent, and a new National Disability Agreement to define the responsibilities of different levels of government. But the biggest saving would come from a "modest" redirection of funds from the pool of money set aside for individual plans, into a new tier of foundational supports specifically for kids with developmental delay and people with psychosocial disability. Overall, the thinktank estimated its blueprint could save $12 billion over 10 years and then a further $34 billion over the same period by not requiring new money to fund foundational supports. Do you have a story to share? Email Grattan senior fellow Alistair McEwin, a former disability discrimination commissioner, said the institute was in "no way" proposing anyone be kicked off the scheme unnecessarily. "What we're saying is that supports for some children with developmental delay and people with psychosocial disability can be provided more effectively, more quickly and more fairly in other state or territory-based schemes," he said. In a statement, NDIS Minister Mark Butler said the government would consider the report. "[This is a] really important piece of work focusing on securing the sustainability and original intent of the NDIS so it works for participants and their families," he said. Alongside foundational supports, the Albanese government has been making other changes to the NDIS in pursuit of the 8 per cent annual growth target it set two years ago. The scheme is now growing at around 10 per cent, down from more than 20 per cent when Labor was elected in 2022. Source: National Disability Insurance Agency This year's budget projections had the scheme on track to meet the 8 per cent target by 2026-27. However, they assumed foundational supports and the shifting of services back to the states (which ceased most disability services when the NDIS began) would have started by this financial year. Mr Butler said this week that funding negotiations with the states and territories were ongoing, and the Commonwealth was working to finalise them as soon as possible. Before the states sign up, they want the federal government to scrap its 6.5 per cent annual growth cap on hospital funding. One of the main drivers behind the NDIS's growth is the larger than expected numbers of kids — many of whom are autistic or have developmental delays — joining and then not leaving the scheme due to the lack of services elsewhere. Melbourne University associate professor Sue Olney, who has been researching the NDIS for more than a decade, said the scheme was never designed to support all people with disability. She said too many previous changes to the scheme's rules happened before alternative supports were put in place, and it was crucial that was not repeated going forward. Muriel Cummins of advocacy group Every Australian Counts said the disability community was diverse and what foundational supports eventually offered needed to reflect that. The NDIS has transformed the lives of its participants, enabling many to live more independently, gain employment, and give back to the economy through taxes. A 2021 report from thinktank Per Capita found that for every dollar spent on the scheme, $2.25 was returned to the economy.
News.com.au
4 hours ago
- News.com.au
‘The death of the shout': Aussies ditch round-buying at the pub
The Aussie pub shout – the sacred social tradition of 'buying a round' for your mates – has long been a staple of Australian night-life. But new data on how Aussies are spending their money reveals that this beloved custom is on the way out. Rising living costs mean a full round for a table can now easily top $100, while changing drinking habits and technological advances are encouraging punters to skip the shout altogether. Instead, Aussies are increasingly choosing to split the bill or simply pay for their own drinks. The latest research comes from Tyro Payments, a payments platform company, and revealed a huge generational spending divide is unfolding at the pub. Using data collected from over 1000 participants and more than 30 million food and drink orders, the report reveals that nearly half of Aussies (49 per cent) have changed their drinking habits due to cost pressures, with one in 10 cutting out alcohol altogether. The report also found that the traditional 'shout' is dying, as Aussies are now 35 per cent less likely to buy rounds for their friends than they were last year. Instead, they're opting to order via QR codes and sidestep the age-old question of 'whose turn is it?' The trend is most prominent among millennials, with 42 per cent saying they'd use a QR code to order drinks specifically to avoid a shout. Among Gen Z, 38 per cent said they use QR codes for the same reason, while 37 per cent of Gen X and 33 per cent of Baby Boomers are also embracing this tech-driven approach. The ease of sending a quick bank transfer to a mate has also made it simpler than ever to settle up the bill without the awkwardness of unpaid drinks or unclaimed rounds. Brian Sarkis, General Manager of ArtHouse Hotel in the Sydney CBD and co-owner of East Village Hotel in Darlinghurst said he's noticed this shift playing out in his bars. 'At East Village, we mainly see customers buy individual drinks when they're with a group of friends,' he told 'Even for birthdays or celebrations, they are more likely to just buy the birthday person a drink rather than shout the whole table.' Mr Sarkis says he's noticed that people are still keen to come out and enjoy a fun night, but they're definitely being more conscious about their spending. 'Buying a round for six people in today's market, that's a big hit to the wallet. The whole 'shouting' thing has pretty much disappeared,' he admits. 'The QR system has eliminated both the generosity and the guilt of round-buying. No one has to be the generous one, but no one has to be the tight one either. Buying someone a drink used to be a gesture, now it's just more efficient to order your own.' He's also noticed that people are much more strategic about their spending now. 'They'll calculate exactly what they want to spend before they even sit down,' he explains. 'The days of 'let's see how the night goes' spending are pretty much over. People have a budget and they stick to it.' This trend isn't unique to Australia. A recent article in The New York Times reported that a similar thing is happening in the US. Gen Z in the States are far less likely to open up a bar tab than they were a few years ago, preferring instead to swipe their cards after every drink, no matter how many rounds they end up having. While bar tabs are more common in American culture than in Australia, the reasons for this change in spending habits remain the same. Having to pull out your card each time you buy a drink serves as a reminder that you're spending money, which helps to curb overspending amid cost-of-living pressures. Gen Z is also favouring 'one-and-done' transactions, mainly using Apple Pay and tapping their phones for a purchase, as they would for a coffee at a cafe. So, it appears that not only is the Aussie shout coming to an end, but mindless pub spending in general.
