Australia news live: Anika Wells named in Time’s ‘influential rising stars’; no negative equity crisis despite property slump | Australia news
Anika Wells named as part of Time100 ‘most influential rising stars’ list
Josh Butler
The federal communications minister, Anika Wells, has been named as one of Time magazine’s “world’s most influential rising stars”, as part of its annual Time 100 list.
Wells, who has overseen the under-16s social media ban and is now working on a world-leading digital duty of care framework, was included on what Time calls its list of “leaders who are shaping the future”.
Also on the list: musicians Sombr and PinkPantheress, soccer player Folarin Balogun, US senator Andy Kim, the Dutch prime minister, Rob Jetten, and Donald Trump’s political adviser James Blair.
Wells was published in the list alongside a testimonial written by the former Labor PM Julia Gillard:
As the world grapples with the extraordinary power of social media and the increasingly pervasive role it plays, Anika Wells has emerged as one of the most significant voices in a growing global movement to reframe the relationship between technology and the well-being of our children.
Even in the face of intense opposition from some of the world’s largest tech companies, she remains steadfast … Future generations will look back on her landmark changes as courageous and trail-blazing.
Australian musician Troye Sivan was also included on the “influential rising stars” list, with a testimonial written by Kylie Minogue. She wrote:
Troye Sivan is a perfect 2020s pop star… Troye doesn’t just make pop music to love. He makes pop music to believe in.
Key events
Patrick Commins
RBA warns of risk that AI boom goes bust
The Reserve Bank has warned that a sudden loss of faith in the artificial intelligence boom could trigger “disorderly asset price corrections” and that “Australia is unlikely to be immune” from the impact.
The RBA’s latest financial stability review said “threats to global financial stability continue to mount”.
Alongside the huge sums being invested in AI, two ongoing conflicts – in the Middle East and Ukraine – alongside “intensifying strategic competition among major powers” underscored these threats, the RBA said.
High valuations in global corporate debt and share markets meant they were vulnerable to a “disorderly” correction.
“One possible trigger could be a shift in sentiment towards the AI investment boom, which is increasingly fuelled by expectations of sustained rapid earnings growth and a debt-financing cycle that is becoming more opaque and circular,” the report said.
The RBA also warned of the rising risk of cyber-attacks, potentially facilitated by AI, and a sudden sell-off in global bond markets.
These external factors are the most prominent threats to financial stability in Australia.
Penry Buckley
Sydney’s metro extension meets key safety approvals – but some doors won’t open
The NSW transport minister, John Graham, says the highly anticipated southwest extension of the Sydney Metro has received key safety approvals, but after discussions with the safety regulator, six doors on the line will not be in use when it opens later this year.
Providing an update at a press conference this morning, Graham said:
As part of the initial safety case when first passengers jump on this train, we’ve agreed with [the Office of the National Rail Safety Regulator] that six of those doors will stay closed, so that there’s no even minor safety issues as this runs … They’ll be clearly signed so passengers know just one of the safety measures in place for this complex bill that we’re undertaking on what is a 130-year-old railway.
They include three sets of doors at Dulwich Hill, and one each at Marrickville, Canterbury and Campsie. Graham said it was an “ongoing discussion” whether these doors will eventually be in use.
The issue relates to mechanical “gap-fillers” that have been added to fill the space between the train and curved platforms on the historic line, with the issue affecting doors where those gaps are widest. There are 360 doors across the 10 stations that are part of the extension, with 18 on each platform at Dulwich Hill.
The Sydney Morning Herald has reported that Sydney Metro is targeting an opening date for the line, which closed to the public two years ago, of mid-October, but the government has consistently refused to commit to a date. This morning, Graham said “we’re confident we’ll be able to operate this railway safely very shortly”.
No sign of negative equity crisis despite property slump
Patrick Commins
The Reserve Bank estimates that fewer than one in 100 borrowers owe more on their home than its worth, despite this year’s broadening price falls.
The RBA in its latest financial stability review said Australia’s household sector was largely coping well with rising interest rates and a recent decline in real incomes. The biannual report said:
While some households continue to experience hardship, the estimated share of mortgagors in severe financial stress or in arrears has, so far, remained low, supported by the strong labour market and mortgagors’ savings and equity buffers.
The RBA’s estimate that fewer than 1% of borrowers were in “negative equity” came with the caveat: recent buyers who took out loans worth close to the value of the property were more likely to now be in the position where the mortgage was higher than their home’s market value.
This included those who took advantage of the government’s 5% home guarantee scheme, the RBA said, although evidence suggested that the share of these borrowers falling behind on their payments remained “contained”.
The RBA estimated that even a 20% property price crash would only push about 5% of mortgages into negative equity – a testament to the fact most homeowners have enjoyed significant value gains over the years. The report said:
Negative equity is insufficient to trigger default if borrowers remain able to service their loans, which remains the case for the vast majority of these households.
Anika Wells named as part of Time100 ‘most influential rising stars’ list
Josh Butler
The federal communications minister, Anika Wells, has been named as one of Time magazine’s “world’s most influential rising stars”, as part of its annual Time 100 list.
Wells, who has overseen the under-16s social media ban and is now working on a world-leading digital duty of care framework, was included on what Time calls its list of “leaders who are shaping the future”.
Also on the list: musicians Sombr and PinkPantheress, soccer player Folarin Balogun, US senator Andy Kim, the Dutch prime minister, Rob Jetten, and Donald Trump’s political adviser James Blair.
Wells was published in the list alongside a testimonial written by the former Labor PM Julia Gillard:
As the world grapples with the extraordinary power of social media and the increasingly pervasive role it plays, Anika Wells has emerged as one of the most significant voices in a growing global movement to reframe the relationship between technology and the well-being of our children.
Even in the face of intense opposition from some of the world’s largest tech companies, she remains steadfast … Future generations will look back on her landmark changes as courageous and trail-blazing.
Australian musician Troye Sivan was also included on the “influential rising stars” list, with a testimonial written by Kylie Minogue. She wrote:
Troye Sivan is a perfect 2020s pop star… Troye doesn’t just make pop music to love. He makes pop music to believe in.
Penry Buckley
Minns says ‘incumbent upon all of us’ to reduce public spending amid high inflation
The NSW premier, Chris Minns, has again defended the state’s record on inflation, as he seeks to distance himself from the federal government ahead of the March 2027 election.
Following calls by the former RBA governor, Philip Lowe, for federal and state governments to reduce public spending and run large budget surpluses amid high inflation and interest rates, Minns yesterday defended NSW’s record, saying “we’ve been careful with public money”.
Asked about Lowe’s comments again on 2GB today, and whether the prime minister and federal treasurer needed to be “called out”, Minns said:
Well, I think it’s incumbent upon all of us … me included, and all of the premiers as well. I mean, the Reserve Bank’s been really clear. Public demand, government spending in the economy is pushing or putting pressure on inflation, as is other things like the war in the Middle East and Donald Trump’s decision to spark a war in Iran. But the truth of the matter is, there’s not much we can do about that geopolitical conflict unless Donald Trump’s listening to this program, and even if he is, I don’t think it’d make a difference. So we have to be look at spending in NSW, whatever we can do, and we’ve tried to do that.
Minns went on to say that NSW was the “only state with a AAA credit rating from [rating agency] Fitch”.
We think that protecting public money, particularly as we get close to an election campaign where political parties are up for spending everything to try and get re-elected, we just can’t throw the barn out because the public are about to go to the polls.
Ampol to acquire major EV charging network
Ampol said today it will acquire one of Australia’s major public electric vehicle charging networks, which it hopes will add more than 1,030 EV charging bays to its sites across the nation.
The acquisition is still subject to approval by the ACCC. But if the $225m deal is completed, Ampol would eventually have 1,425 EV charging bays at more than 400 locations, making it one of the largest public EV charging platforms in Australia.
Matt Halliday, Ampol’s managing director, said:
For Ampol, EV charging is ultimately a question of disciplined investment at the right time. … Our job is to be there for customers with what they need, when they need it, as they choose vehicle technology that suits their needs.
Albanese says new Greens leader’s remarks ‘somewhat concerning’
The prime minister, Anthony Albanese, said he was concerned the newly minted Greens leader David Shoebridge had criticised the Labor party during his first speech at the helm yesterday.
Shoebridge declared he wants the Greens to replace Labor, casting his party as the one that can “beat down One Nation”.
Albanese said the remarks were “somewhat concerning” at a press conference in Tasmania this morning, adding:
I think that at a time where we see a rise of a far-right wing party, senator Shoebridge took the opportunity to actually criticise Labor.
Sounded a lot like some of the people who didn’t win their seats at the House of Representatives election last May.
So the Greens political party, you know, I’m a Labor loyalist, we are a party of government, not a party of protest, and that’s the difference when you’re a party of government.
Penry Buckley
NSW premier says controversial mine expansion ‘hugely important’ for economy: ‘this is the right decision’
The NSW premier, Chris Minns, has welcomed the approval of the controversial Hunter Valley Operations (HVO) continuation project.
Yesterday the NSW Independent Planning Commission approved the proposal, the biggest coalmine project to ever go before it, allowing mining to continue until 2045. Climate groups have described the HVO project as a “carbon bomb”.
Asked about the decision on 2GB this morning, Minns said:
This is a hugely important decision for the New South Wales economy. It props up and is responsible for literally thousands of direct and indirect jobs … It also produces billions of dollars of royalties for the NSW government, which we put into schools and hospitals, as well as the renewable energy renovation of the state.
So, look, this is the right decision. The IPC has determined it. I think they’ve made the right call here, and it would give a lot of certainty to that businesses up there, but alongside that, a lot of workers that were sweating on this decision over a long period of time.
Mammoth operation under way to remove 31-tonne whale carcass from Perth beach
A 13-metre whale that washed up on Perth’s City beach early Monday is being removed after its carcass attracted huge great white sharks to the shoreline.
The public was asked to keep off the beach during the operation, with the carcass due to be taken to a landfill site for burial.
Post-surgery signs good for Nathan Cleary
Nathan Cleary has received positive early news on his badly broken leg, as the Penrith superstar was awarded his maiden Dally M while in a wheelchair, AAP reports.
Cleary beat out Braydon Trindall to take home the NRL’s top gong on Wednesday night, giving him a complete set of major rugby league awards.
The 28-year-old was unable to attend the awards night, after being released from hospital on Wednesday following emergency surgery on his ankle.
AAP understands the surgeon is so far happy with the outcome of the operation, with a hope Cleary will be able to return to the field for round one.
The Penrith halfback will also soon undergo surgery on the broken right foot he carried into Sunday’s preliminary final against Newcastle, but that should recover quickly.
Shoebridge addresses Faruqi’s comments after Greens leadership ballot
David Shoebridge has addressed comments from former deputy Mehreen Faruqi that her work on major global challenges was more effective outside the leadership team.
The new Greens leader rejected the assertion from ABC’s Melissa Clarke that it “sounds like [Faruqi] doesn’t want to work with you”.
Yesterday Faruqi – who nominated for the Greens party leadership – revealed she did not run for her deputy position in the ballot.
Naming challenges including conflict, genocide, racism, climate change, and cost of living, Faruqi posted to Instagram:
On reflection, I believe I can best play my part in that action outside the constraints of the leadership team.
Speaking to ABC Radio National this morning, Shoebridge said:
The Greens are unusual in that we pretty much everyone, every member of our team is a frontbencher with a huge portfolio load to get out and work in that portfolio …
I am looking forward to senator Faruqi getting out there and campaigning on matters that she’s clearly got a passion and a talent to connect with big parts of this country. And I think that’s great.
‘Like living in a wildlife documentary’: Antarctic outpost job applications now open
The Australian Antarctic Program has opened recruitment today for more than 200 roles for the 2027/28 Antarctic season, with plenty of tradies needed to deliver research station improvements, AAP reports.
“You can be walking to work at 10 o’clock in the morning and have an aurora over your head,” says Nelson Clegg, a Bureau of Meteorology technical officer who is currently posted at Davis station:
Getting to see penguin rookeries and seal colonies. It’s like living in a wildlife documentary.
The program has contracts ranging from six months to 12-plus months available across 29 roles including electricians, carpenters, mechanics, plumbers and chefs. There are also spots for specialists in science, aviation, voyage and field leadership roles and telecommunications.
Last year, the program had to sift through 6,200 applications.
Candidates need trade qualifications and several years’ experience to be successful and must be an Australian citizen. There is also a thorough application process examining personal characteristics, as well as medical and psychological assessments.
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One of Australia’s big four aluminium smelters gets $200m lifeline
A government funding package has helped secure a five-year power deal at one of Australia’s big four aluminium smelters, AAP reports.
The electricity contract for northern Tasmania’s Bell Bay Aluminium, one of Australia’s big four aluminium smelters, was due to expire at the end of 2026, and it had been at loggerheads with state-owned Hydro Tasmania for months over a deal.
A $200m joint support package from the Tasmanian and federal governments has soothed some concerns surrounding the future of the smelter, even though the parties were bargaining for a 10-year deal.
It employs 550 workers, and 1,000 more workers indirectly cross northern Tasmania.
Andrew Messenger
Disability groups urge Queensland to act on Thriving Kids program
Three disability advocacy groups have urged the Queensland government end “uncertainly” for families in the state awaiting the Thriving Kids program.
The state-delivered program will ultimately replace the NDIS for children with mild to moderate autism or developmental delays in January 2028.
But three groups, People with Disability Australia, Children and Young People with Disability Australia, and the Queensland Independent Disability Advocacy Network say the state government has left them in the dark.
“Queensland’s decision not to sign the bilateral agreement has consequences,” an open letter reads:
While other jurisdictions move into implementation, Queensland families are being asked to live with continued uncertainty about what supports will be available here and when.
If the government is not satisfied that the current arrangements protect Queensland children and families, it now needs to set out a credible pathway to arrangements that will.
People with disability, families and the organisations that represent and advocate alongside them must be part of that work.
The premier, David Crisafulli, yesterday said he was concerned the plan could become “a cost-shifting exercise” and complained of a lack of detail from the commonwealth.
I say to those families, we’re on your side, and we’re trying to get some common sense out of Canberra to make sure that you don’t fall through the cracks
Sydney Trains warns extra travel time needed after incident at Central
Just a quick note for Sydney commuters: Sydney Trains is urging anyone travelling this morning to allow extra time to get into work due to an incident at Central station.
Trains are expected to stop on platforms or between stations for longer than normal, or stops may change at short notice.
You can check for updates on trip planner apps.
