Brisbane Hustle

Sir Patrick Stewart, Star Trek and X-Men actor, dies aged 86

Sir Patrick Stewart, the classically trained British actor best known for commanding the starship Enterprise as Captain Jean-Luc Picard and leading the X-Men as Professor Charles Xavier, has died at his Los Angeles home aged 86.

A statement posted to his X account confirmed he passed away in the care of his wife, Sunny, following a diagnosis of Alzheimer's disease and Lewy Body dementia. Stewart was knighted in 2010 by Queen Elizabeth II for his contributions to drama.

From Yorkshire to the Stars

Born in 1940 in Mirfield, a small Yorkshire coal-mining town, Stewart grew up in postwar England before winning a place at the Bristol Old Vic Theatre School at 17, funded by a full local council scholarship. He joined the Royal Shakespeare Company in the 1960s and spent decades on stage — playing roles from Claudius to Macbeth — before mainstream fame arrived when he was cast as Captain Picard in Star Trek: The Next Generation, which ran from 1987 to 1994. A producer had spotted him lecturing American students on Shakespeare and suggested him for the role; by Stewart's own account, franchise creator Gene Roddenberry was initially opposed to the casting.

His stage career ran alongside his screen work throughout his life. He performed a one-man rendition of A Christmas Carol and appeared in West End and Broadway productions of Harold Pinter's No Man's Land and Samuel Beckett's Waiting for Godot alongside close friend Ian McKellen. Later, he reprised Picard in the sequel series Star Trek: Picard. "I will never say goodbye to Jean-Luc Picard, to his ideals, to his struggles to create an honest world, an unprejudiced world," he told this masthead in 2022.

Fellow Star Trek actor George Takei, who played Sulu in the original 1960s series, led tributes on social media, writing on Bluesky: "As Captain Jean-Luc Picard, Patrick Stewart took the starship Enterprise to places it had never gone before. He inspired a whole next generation of stargazers who looked longingly ahead to a brighter future for all humanity. Our hearts are heavy, indeed. Rest in the heavens, Captain."

Federal government launches parliamentary inquiry into Australia Post's long-term future

The Albanese government has launched a parliamentary inquiry into the long-term viability of Australia Post, with Communications Minister Anika Wells citing shifting consumer behaviour and deteriorating commercial conditions as key pressures on the 217-year-old institution.

Australia Post Under the Microscope

The inquiry, to be conducted by a House committee, will examine whether the postal service is keeping pace with the needs of Australians. Last financial year, approximately 1.42 billion letters were sent through Australia Post — a fall of 14.7 per cent on the prior year — compounding broader concerns about declining foot traffic at post offices around the country.

"That's why I've asked the House committee to explore how we can better support a sustainable and accessible postal service that delivers for all Australians," Minister Wells said. The inquiry is due to report back by the middle of next year.

Australia Post welcomed the government's move. "For several years, we have highlighted the growing challenges facing Australia Post, which are shared by postal organisations around the world," a spokesperson said. "We welcome the government's action to address these challenges and support our long-term sustainability."

Separately, Trade Minister Don Farrell used an address to the National Farmers Federation to defend the proposed Australia-EU free trade agreement, arguing it could generate $10 billion in additional trade in its first year. Farrell acknowledged that beef and lamb industries wanted more from the deal but said 95 per cent of Australian industries support the agreement. He told farmers the deal was not open to renegotiation, despite calls from the Coalition to seek better terms.

ASX set to rise as Alphabet sheds $US500bn in record single-day fall

The Australian share market is poised to open higher on Friday, with ASX 200 futures up 15 points overnight, even as a dramatic sell-off in tech stocks rattled overseas markets.

Alphabet's record-breaking losses dominate

The session was dominated by Alphabet's worst share price fall since listing, with the Google parent company plunging 12.6% to $US283.82 — wiping close to $US500 billion from its market valuation in a single day. Investors were rattled by the company's negative free cash flow of $US9.1 billion, which shocked analysts who had broadly expected it to come close to breaking even. Alphabet's Google Services unit also missed quarterly revenue expectations by just over $US2 billion, generating $US96.3 billion, as growth in search revenue slowed. The company told investors it plans to increase investment spending beyond this year's forecasts of around $US200 billion.

The sell-off was severe enough to drag the Nasdaq down 1.375% to 26,184 points, compared to more modest falls of 0.3% for the S&P 500 and Dow Jones Industrial Average.

Microsoft escapes the rout

Not all tech giants suffered equally. Microsoft's share price fell just 0.2% to $US530.14 overnight. Betashares investment strategist Hugh Lam attributed the divergence to the contrasting cash flow positions of the two companies. While Alphabet's free cash flow remained negative for a second consecutive quarter, Microsoft has continued to fund its AI expansion while maintaining positive free cash flow. "The market is moving from indiscriminately rewarding AI spending to scrutinising how it is financed," Lam said. He noted Alphabet did show some green shoots, with Google Cloud revenue rising 103% year-on-year to $US30.7 billion and its operating margin expanding to 36.2% from 23.7% a year earlier. The Gemini app also reached one billion users. The key question, Lam said, is whether Alphabet's expected increase in capital expenditure in 2027 converts into Cloud revenue quickly enough to return the company to positive free cash flow.

At approximately 8:10am AEDT, the ASX 200 was tracking at 8,891 points, the Australian dollar was flat at 70.33 US cents, spot gold fell 1.15% to $US4,020 per ounce, and Brent crude edged up 0.16% to $US115.50 per barrel.

Fresh Aboriginal heritage bid seeks emergency protection for McPhillamys gold mine site

A faction of Orange Local Aboriginal Land Council (OLALC) members has lodged a new emergency protection application over part of the McPhillamys Gold Project near Blayney in New South Wales, weeks after the Federal Court struck down a previous protection order covering the same area.

The application, submitted independently of the OLALC by "concerned members" of the council, invokes Section 9 of the Aboriginal and Torres Strait Islander Heritage Protection Act. It argues the area faces "imminent threat of desecration" and calls on federal Environment Minister Murray Watt to act urgently. The applicants describe the Belubula River — which originates at the mine site — as a sacred songline of particular significance to the Wiradjuri people. "It is a Sacred Songline of particular significance to the Wiradjuri people … [it] is sacred, the giver of life and the lifeblood of our people," the application states.

Court Overturned Earlier Order

The fresh bid follows a significant legal setback for protection advocates. On October 14, Regis Resources successfully challenged in the Federal Court the decision made by former environment minister Tanya Plibersek in August 2024 to declare an Aboriginal protection order over the site. That original Section 10 declaration — sought by Wiradyuri elder Aunty Nyree Reynolds and supported by the Wiradyuri Traditional Owners Central West Aboriginal Corporation — was intended to protect the headwaters and springs of the Belubula River, where a tailings dam for mining waste was planned. The court ruled Ms Plibersek's decision was "invalid" due to procedural errors in how additional information about the area's cultural significance was assessed. Regis Resources had previously stated the minister's declaration made the open-cut operation "not viable" in its current form.

The Department of Climate Change, Energy, the Environment and Water has confirmed it is assessing the new application and that no decision has been made. Under the process, the minister must determine whether the site is a significant Aboriginal area under serious and immediate threat. OLALC chief executive Annette Steele said she expected the department would ask the council to respond to the privately submitted application, adding that the council's response would "be guided by the senior Wiradjuri elders who hold cultural authority for the area in question." The application also underscores broader tensions between the region's Aboriginal groups over cultural authority and the right to speak for country.

First Guardian liquidators recover just $8m of $512m lost in super collapse

Thousands of investors in the collapsed First Guardian superannuation scheme have been dealt a fresh blow, after liquidators confirmed they have recovered only $8.02 million — just 1.56 per cent of the roughly $512.8 million the fund's directors had valued its investments at.

Making the figures starker still, almost $7 million of the recovered amount has already been absorbed by liquidation fees. Liquidators Ross Blakeley and Paul Harlon of FTI Consulting told the scheme's 6,000 investors they still cannot say how much, if anything, will be returned from remaining asset sales, with much of the funds appearing to have been channelled offshore. They expect to provide a clearer picture after court hearings scheduled for November and December this year.

Investor reaction and wider losses

First Guardian investor Melinda Kee, who also runs advocacy group Save our Super, said she "felt broken" after learning the news. Ms Kee was given financial advice in November 2023 to move her superannuation from a retail fund into First Guardian and lost $400,000 in retirement savings as a result. "It is utterly devastating that after 18 months, just $8 million has been recovered from more than $512 million in investments, while almost $7 million has already been absorbed by liquidation costs," she told ABC News. "Behind these shocking figures are real Australians whose life savings, retirement dreams and financial security have been shattered."

Ms Kee is one of 11,800 investors who collectively lost more than $1 billion in retirement savings after moving funds into First Guardian and the related Shield managed investment scheme, both of which later collapsed. The corporate regulator ASIC is pursuing legal action against several parties involved in marketing and operating the schemes, including Diversa and Equity Trustees, both of which have said they will defend the lawsuits. In December, Netwealth reimbursed approximately $100 million to around 1,000 First Guardian investors who had invested through its platform under a deal with ASIC. Some investors are now considering a class action, while others may apply through the Compensation Scheme of Last Resort — though that scheme is capped at $150,000, a limit well below the losses many investors suffered.

US midterms: GDP up 3.4% but farmer-funded attack ads hit GOP on cost of living

The final economic snapshot before the US midterm elections has landed with mixed signals: third-quarter GDP grew 3.4 per cent annually, yet inflation accelerated to 3.6 per cent in September — well above the central bank's 2 per cent target.

"The country is doing unbelievably well," President Donald Trump told reporters while travelling to a rally in South Carolina. That message faces a tough audience, however, with the cost of living remaining the top issue for voters heading into the election.

Farmer-Funded Ads Target Republican Seats

This midterm cycle is already the most expensive in US history, and the advertising wars are escalating. A group of farmers is helping to fund $US3 million ($4.2 million AUD) in attack ads aimed at Republicans in some of the country's most competitive races. Trump has faced growing headwinds among traditionally loyal rural supporters, largely tied to tariffs and elevated fuel costs. In Texas, Elon Musk is separately funding an AI-powered robocall campaign targeting Democratic US Senate candidate James Talarico over alleged ties to "data center special interest" groups, according to CNN.

Alaska's Senate Race Takes Another Twist

Alaska's US Senate contest — featuring two men named Dan Sullivan on the ballot — grew stranger still after the New York Times reported Democrats sought a same-name spoiler candidate to run against Republican incumbent Dan Sullivan. House Oversight Committee chair James Comer has announced an investigation into Democratic challenger Mary Peltola, who is currently leading in the polls, and has requested interviews with her former campaign manager and former chief of staff. Legal experts say the challenging Sullivan likely broke no laws unless financial support was concealed, noting that political parties are permitted to mislead the public. Trump has directed the Justice Department to file a lawsuit seeking to block certification of results if his endorsed Sullivan loses.

Michigan and Texas are also drawing close attention, with progressive candidate Abdul El-Sayed in a tight race against Republican Mike Rogers for a Michigan Senate seat — a test of whether a left-wing candidate can prevail in a purple state — while Democrat James Talarico is attempting to turn Texas blue. North America correspondent Lauren Day noted that if Republicans lose either chamber, Trump's ability to advance his legislative agenda would be significantly curtailed, though executive orders and foreign policy actions would remain unaffected.