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AUKUS defence pact 'being reviewed' by US government

AUKUS defence pact 'being reviewed' by US government

1News15-06-2025
The US government is reportedly reviewing the AUKUS trilateral defence agreement between Australia, the UK and the US.
The decision to conduct a review has been reported by multiple news outlets including Reuters, which cited US defence officials without giving further details.
The review will reportedly examine whether the pact is in line with US President Donald Trump's 'America First' policy, according to the ABC which also cited a Pentagon source.
AUKUS is a three-nation security alliance between Australia, the UK and the US agreed in 2021 under the prime ministership of ex-Liberal leader Scott Morrison.
The morning's headlines in 90 seconds including passengers stuck on ferry overnight, new flights to Sydney coming, and the weirdest things we leave in Ubers. (Source: 1News)
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It was formed to counter China's strategic moves in the Pacific arena and was underpinned by an agreement between the US and the UK to provide Australia with access to nuclear-powered submarine technology, to eventually replace its aging Collins-class boats.
The deal is worth hundreds of billions of dollars, although the first submarine is not expected to join the Australian fleet for years.
Australia, which in February made the first of six $US500 million (about $830 million) payments to the US for the boats, is expected to initially buy between three and five off-the-shelf Virginia-class boats.
At the time, US Defence Secretary Pete Hegseth said Trump was supportive of the AUKUS deal.
President Donald Trump gestures after speaking at Fort Bragg. (Source: Associated Press)
"The president is very aware, supportive of AUKUS," Hegseth said after a meeting with Australian Defence Minister Richard Marles.
"(He) recognises the importance of the defence industrial base."
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Marles responded that the pair had discussed how the US and Australia could advance their longstanding diplomatic relationship in terms of national security, including AUKUS.
Australia's military budget is expected to rise to 2.3% of gross domestic product, or output, by 2034.
The US regime has already called for Australia to increase that spending to around 3.5%.
Australia tore up its $97 billion diesel-powered submarine deal with France to sign on to AUKUS and is contracted to buy several off-the-shelf submarines costing about $US4 billion each, before making its own.
The first Australian-made boats are not due to be operational until the 2040s.
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It's An Eventful Week Ahead
It's An Eventful Week Ahead

Scoop

time21 minutes ago

  • Scoop

It's An Eventful Week Ahead

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GoCardless names Ian Boyd to lead Australia & New Zealand growth
GoCardless names Ian Boyd to lead Australia & New Zealand growth

Techday NZ

time26 minutes ago

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GoCardless names Ian Boyd to lead Australia & New Zealand growth

GoCardless has appointed Ian Boyd as General Manager for Australia and New Zealand as part of a strategy to expand its presence in the region's evolving payments sector. Boyd, who previously served as General Manager of Partnerships at Xero, brings more than twenty years of experience in financial services and technology to the role. His career includes significant tenures at Visa, Barclaycard, and ANZ Bank, positioning him to lead GoCardless as it aims to grow its market share in the region. Growth strategy GoCardless has reported a 28% revenue growth in Australia and 36% in New Zealand during 2024. The company intends to build on this momentum, particularly as changes in Australia's payments infrastructure—including the rise of PayTo and the proposed decommissioning of BECS by 2030—create new opportunities for merchants and payment service providers. In his new position, Boyd is tasked with driving growth, fortifying partnerships, and expanding the company's PayTo offering across both countries. He is also expected to oversee GoCardless' efforts to respond to local market changes and address demand for modern payment solutions. Leadership remarks "It's an exciting time for payments in Australia and New Zealand with bank payments on the rise. Direct Debit has long been popular and with PayTo now enabled for over 90% of consumer bank accounts, it's the perfect time to strengthen our presence in the market. Ian's proven background, particularly his experience at Xero and deep understanding of the local market, makes him the ideal leader to drive our next phase of growth." This statement was made by Pat Phelan, Chief Commercial Officer at GoCardless, highlighting the alignment between Boyd's background and the needs of the business in the region. Market demand The announcement of Boyd's appointment coincides with GoCardless' ongoing efforts to solidify its position as a partner for Australian merchants navigating new payment technologies. Partnerships have already been established with organisations such as Salesforce, i=Change, Optty, and InsuredHQ. These relationships are seen as key components of the firm's regional growth plans, particularly as businesses seek alternatives to legacy payment infrastructure. Outlook from Ian Boyd "I'm excited to join GoCardless at this pivotal moment. We have a huge opportunity to show businesses the benefits of bank payments, helping them boost revenues, cut costs, and build stronger customer relationships. In Australia, with the proposed decommissioning of BECS and the emergence of PayTo, we're the ideal partner for merchants, offering Direct Debit now and the ability to become PayTo-ready for the future. In New Zealand, we'll bring the latest payment technology to accelerate growth, disrupting a market long underserved by outdated infrastructure. I'm confident we can take the pain out of getting paid for millions of merchants, enabling them to truly thrive." Boyd's comments reflect an emphasis on meeting evolving merchant needs and leveraging modernised payment rails in both Australia and New Zealand. Sector context More than 90% of Australian consumer bank accounts are now PayTo-ready, signalling the widespread adoption of new digital payment options. The upcoming retirement of the BECS payment rails by 2030 is expected to accelerate the industry's transition towards real-time and account-to-account solutions. GoCardless is positioning its platform and services to support businesses through this period of change, both in Australia and neighbouring New Zealand. As the payments landscape transforms, GoCardless plans to continue building on recent partnerships and strengthening its local presence under Boyd's leadership, aiming to support merchants adjusting to updated infrastructure and customer payment preferences. Follow us on: Share on:

Contract inefficiencies cost global economy AUD $3.13 trillion
Contract inefficiencies cost global economy AUD $3.13 trillion

Techday NZ

timean hour ago

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Contract inefficiencies cost global economy AUD $3.13 trillion

Australian workplaces are experiencing a notable productivity slowdown, with new research indicating that inefficient contract management processes are contributing to the country's economic challenges. The latest report from Docusign, in collaboration with Deloitte, identifies outdated and manual agreement procedures as a factor behind ongoing micro-inefficiencies in businesses, which, when accumulated, significantly impact national productivity levels. The findings come as the Productivity Commission's most recent bulletin highlighted only a 0.2% growth in output, while hours worked rose by 0.3%—leading to stagnation in productivity results in early 2025. Despite widespread adoption of digital transformation initiatives and artificial intelligence (AI), many organisations still depend on fragmented contract workflows. According to Docusign, such inefficiencies equate to more than AUD $3.13 trillion in lost economic value on a global scale each year. Key findings The Docusign-Deloitte survey focused on the Australia and New Zealand (ANZ) region, uncovering the scale of the so-called 'Agreement Trap'. Lengthy negotiation cycles and delays in approval are prompting business leaders to prioritise operational efficiency measures. The study shows that 68% of ANZ decision-makers rate their contract creation capability as advanced, with 55% attributing significant performance improvements to this maturity. "Reversing Australia's weak productivity performance is one of the most urgent economic challenges we currently face, and slow business processes are only exacerbating the issue. It is perhaps no surprise that we're seeing businesses focus on tactical use cases like contract creation; what may seem like siloed inefficiencies at the individual business level actually causes a considerable strain on productivity when multiplied at the scale of the economy," said Shaun McLagan, Group Vice President and General Manager for ANZ at Docusign. 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Despite investments in automation and advanced tools, the business impact often lags behind technological maturity. Organisations must think bigger, and more strategically, about how agreements can unlock long-term performance gains." AI and contract lifecycle management Artificial intelligence is increasingly regarded as a key enabler for agreement management transformation. Globally, business leaders estimate 60% of each capability within contract lifecycle management could be AI-assisted within the next three years. Nearly half (48%) of global leaders surveyed rank contract creation as a priority area for AI application, ahead of functions such as insights and intelligence (35%), customer experience (35%), agreement storage and categorisation (32%), review and risk evaluation (30%), and obligation and renewal management (28%). The report cautions, however, that while automation can drive immediate productivity gains, businesses could repeat previous mistakes by ignoring use cases with potential for long-term strategic value. McLagan said: "Contract creation being an essential area for AI indicates a key pain point for organisations. However, AI and intelligent agreement management represent an opportunity for businesses to think beyond automating away pain points and digging deeper into the untapped potential trapped inside static contracts." He added, "Agreements are the heartbeat of the economy. As Australia seeks to turn the tide on its productivity slump, closing the gap between digital maturity and real-world business impact in agreement management will play a key role in growing the modern economy." Survey methodology The Docusign and Deloitte survey drew on responses from over 1,400 business leaders across 14 countries, including Australia and New Zealand. Organisations surveyed ranged in size from 125 to 20,000 employees and included representatives from sales, procurement, customer experience, human resources, legal, and information technology roles. Respondents were at director level or above and held responsibility for contract management functions. The research combined quantitative data with qualitative interviews for context.

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