LIVE UPDATES: Anthony Albanese announces new push to make big tech pay for Australian journalism content

Meta, Google and TikTok will have to pay Australian news organisations for their content, or pay even more to the Government under a new version of laws aimed at making sure tech giants pay their fair share.

Anthony Albanese unveiled the news bargaining incentive on Tuesday to update the previous regime that has fallen apart after Meta walked away from striking fresh deals with media companies.

“Our government is taking the next steps to ensure that Australian journalism is sustainable now and into the future, by ensuring that large digital platforms cannot avoid their obligations under the news media bargaining code,” he said.

Under the new system, which the Government will put to Parliament before the end of winter, the tech companies have to pay the government 2.25 per cent of their Australian revenue, unless they strike deals with media companies both large and small.

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Iranian Foreign Minister Abbas Araghchi met Monday with Russian President Vladimir Putin, who pledged to do “everything” possible to bring peace to the Middle East, amid stalled talks between Iran and the United States.

Araghchi arrived in St Petersburg early Monday after stops in Oman — like Russia, a key diplomatic mediator for Iran — and Pakistan, which has been hosting on-again, off-again peace talks.

Hopes of a deal dimmed over the weekend after President Donald Trump at the last minute called off plans to send to Pakistan envoys Steve Witkoff and Jared Kushner, Trump’s son-in-law.

Iranian negotiators have floated a proposal that would separate the Strait of Hormuz from talks regarding Iran’s nuclear program and a larger peace deal, according to a Pakistani official briefed on the matter, who spoke on the condition of anonymity to share sensitive details.

The Trump administration is discussing the matter, White House press secretary Karoline Leavitt told reporters Monday.

Russian state media did not report what kind of support, if any, Putin pledged to Araghchi behind closed doors in their meeting Monday.

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Australia’s share market has extended Monday’s drop as some States return from a long weekend and the Middle East energy shock continues to drag on sentiment.

The S&P/ASX200 fell 50.9 points by midday on Tuesday, down 0.58 per cent, to 8,715.5, as the broader All Ordinaries lost 48 points, or 0.53 per cent, to 8,942.8.

Wall Street stalled at fresh record highs overnight as oil prices crept up on signals that the US was unlikely to accept an Iranian proposal to delay nuclear talks in order to prioritise the opening of the strait of Hormuz.

“Markets have been in limbo since President Trump formally cancelled the latest round of in-person negotiations over the weekend,” Westpac economist Ryan Wells said.

“Price action has been mixed against this fluid backdrop around US-Iran negotiation prospects.”

Energy and real estate were the only two sectors trading higher, scraping gains of less than 0.2 per cent.

- with AAP

Anthony Albanese has responded to concerns raised by a British parliamentary committee about the future of the AUKUS pact, pushing back on suggestions the program could falter due to a lack of investment and commitment.

He said the partnership continues to enjoy strong backing in the UK, adding: “There is overwhelming support from the British Government, from Prime Minister Keir Starmer as well as from the defence personnel in the United Kingdom. AUKUS is to quote President Trump, full steam ahead and I’m confident it will be so.”

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Anika Wells says most Australians are now getting their news directly from platforms like Facebook, TikTok and Google, arguing it’s only fair that those companies contribute to the journalism that underpins their revenue.

Ms Wells said the current media bargaining code is no longer doing its job, adding, “The News Bargaining Code is no longer working effectively. We are fixing it.”

The government’s updated framework is designed to push platforms into striking deals with news organisations and ensuring they contribute what she described as their fair share under Australian law.

Anthony Albanese has confirmed the government will move the News Bargaining Incentive into its next phase, with legislation set to be introduced during the winter sitting.

An exposure draft of the reforms will be released ahead of that process.

“We have just come from Cabinet and we can announce today that our Government is taking the next steps to ensure that Australian journalism is sustainable now and into the future by ensuring that large digital platforms cannot avoid their obligations under the new Media Bargaining Code.”

Meghan Quinn is set to make history as the first woman to be appointed Secretary of Australia’s Department of Defence, with her five-year term due to begin on May 18, 2026.

Prime Minister Anthony Albanese confirmed he will recommend her appointment to the Governor-General, describing Ms Quinn as a “standout candidate”.

Currently serving as Secretary of the Department of Industry, Science and Resources, she brings decades of experience across the public and private sectors, including senior roles at Treasury, the Department of the Prime Minister and Cabinet, BHP and the Bank of England.

She was awarded the Public Service Medal in 2009 for her work on climate change policy.

The Prime Minister also thanked outgoing Defence Secretary Greg Moriarty for his service as he prepares to take up a new role as Australia’s Ambassador to the United States.

It has been reported that a luxury superyacht tied to a sanctioned Russian billionaire has been tracked moving through the Strait of Hormuz, according to shipping data.

Reuters shared the 142-metre vessel Nord was seen travelling from Dubai to Muscat, Oman, over the weekend, though it remains unclear how it was permitted to pass through the heavily monitored waterway.

It is believed that the yacht is linked to steel magnate Alexey Mordashov, who was sanctioned by the EU and US following Russia’s invasion of Ukraine over his ties to Vladimir Putin. The vessel is registered to a company owned by Mordashov’s wife.

Erika Kirk has spoken out following the latest attempt to assassinate Donald Trump, describing it as “yet another traumatic example of the evil in our country and the continued rise in political violence” in a post on X.

She said she plans to address the incident in more detail on The Charlie Kirk Show on Thursday (AEST), as reactions continue to build across the US.

Scott Bessent has escalated rhetoric against Iran, claiming the country’s leadership is under mounting pressure as the US blockade tightens and its oil sector falters.

“While the surviving IRGC Leaders are trapped like drowning rats in a sewage pipe, Iran’s creaking oil industry is starting to shut in production thanks to the US BLOCKADE,” he said on X. “Pumping will soon collapse. GASOLINE SHORTAGES IN IRAN NEXT!”