Haymarket's revamped Paddy's Markets vowed to be a first-rate food hub. Did it deliver?
For reasons beyond speculation, there are also old Encyclopaedia Britannicas strewn around the bar. Who's reading 'Volume 12: Hydrozoa to Jeremy, Epistle Of' with their Jansz Cuvée? Management should research the City of Sydney's recycling guidelines instead. There are plenty of bins (and a lot of disposable cutlery and boxes), but I haven't found any receptacles to separate cans, plastic and cardboard. Even Westfield has recycling bins for PET's sake.
I have, however, been served a very good martini on three occasions at Traders, which is stocked with some decent booze. You can then take that martini to The Fish + Chippery and down it with thick chips of noble crunch fried in beef tallow. They're not just the best thing I've eaten across six visits to Hay St Market, they're some of the best chips in town.
I'll also bat for the vibrant pho at Luke Nguyen's noodle store, even if you can get twice the amount for the same price at many restaurants nearby. Wan Chai Wok's chow fun with shaggy, soy-seasoned beef is totally fine, as are most of Thomas Hay Bakery's pastries. The cannoli shop's cannoli do the job; barbecued Skull Island prawns at Little Midden have long savoury flavour; Scoop & Sons knows what it's doing with gelato.
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News.com.au
5 days ago
- News.com.au
Restaurants close, iconic traders vanish as drug beat takes over Little Saigon
Restaurants have been gutted, bars permanently closed and iconic Vietnamese traders vacated as a once thriving Melbourne neighbourhood lovingly referred to as Little Saigon gives way to a trade in street drugs. So dire is the situation on Victoria Street in North Richmond that formerly prime real estate is being offered with 'free rent' to anyone willing to try their luck running a business adjacent to the city's safe injecting room. There is no way around it — the strip of shops has lost much of its charm as drug deals happen in the open and users stumble up and down the street. The injecting room on nearly Lennox Street is where many users consume methamphetamine and heroin, but Victoria Street is where they congregate before and after using. Locals say in the last five years it has become unsustainable as migrants who moved to Australia and opened a business in a Vietnamese food hub are 'treated like shit' and forced to confront a very different reality today to the one that existed when they first opened. is aware of a number of retailers who have had enough, including restaurant owners who packed their things and moved on after 22 years. Others keep their front doors locked and tell genuine customers to call them if they're waiting outside to get in. One business owner who spoke to on condition of anonymity said the situation is so bad that they are actively looking for somewhere else. 'Every day we're faced with anti-social behaviour on our doorstep. Our staff don't feel like coming to work anymore,' they said. Rent for empty shopfronts — of which there are dozens — starts around $25,000 a year for a 99sq m space with a kitchen. Among the recent casualties are the once-popular Minh Tan II restaurant which opened to great fanfare in August of 2017 but is now empty. Next door, the Hai Phu butcher and seafood market is also abandoned with a 'free rental offer' sticker plastered on the front window. Yarra City Council has something of a plan for the street but locals say it won't amount to anything. This week they promoted their decision to spend $550,000 of ratepayers' funds on a revitalisation project that will include 'greening and beautifying public spaces, as well as making them safer'. 'Victoria Street has been crying out for this sort of help for too long, and we can't wait any longer,' said Yarra City Council Mayor, Stephen Jolly. 'This is not a typical urban renewal plan that is reliant on the State Government. But we understand the urgency and will look to do everything we can within our remit – alongside local businesses and residents — to ensure we meet the moment.' Resident Christine Maynard told the plan is 'a joke'. 'You could spend $90 million on Victoria Street to revitalise it but nothing will work until you move the elephant in the room.' She is referring to the safe injecting room, a facility green-lit by Daniel Andrews when he was Victorian Premier. It is run by the State Government in a bid to save lives in what is universally regarded as Victoria's heroin epicentre, but much of the impacts are felt by locals. They are the ones who have to deal with the fallout of drug use in their suburb and next to their primary school. And they are the ones whose rates pay for the hundreds of thousands of dollars it costs each year to collect used syringes from the suburbs' gutters and playgrounds and footpaths. Ms Maynard told this week's council meeting they were owed '$3 million' for an injecting room that the state government expects them to manage. 'So I appear again with the same question I've had for a long time,' she told the meeting. 'This is in relation to the over $3 million that ratepayers are owed in relation to the failed supervised injecting room. Council attends regularly to clean up. 'This is not something that my rates should have to be paying for. I think it's just disgusting that I'm still sitting here. I know the guys that are down there cleaning up every day. 'Who is paying for this? We are. This is not a council-run facility. It never was and never will be.' Cr Jolly said he agreed with her position, but it was almost impossible to get the state government to cough up any money. 'The supervised injecting facility is definitely a state government facility. That's correct,' he said. 'In my opinion, they should be picking up the needles for obvious reasons. I agree that it's cost-shifting. They're not giving us the $3m that you've referred to. 'When we ask for the $3m for this, we're asking Dracula not to suck our blood. They'll try to spend as much money of ours for jobs they should be doing. We'll keep banging on the door.' The fight for fairness for locals and retailers comes as shocking figures confirm what many already feared. The Coroners Court of Victoria revealed this week that Victoria recorded its highest number of fatal drug overdoses in a decade. According to the new data, there were 584 fatal overdoses in 2024 and 547 the year prior. Heroin, methamphetamine, MDMA, cocaine and GHB were the main culprits, where use of those drugs peaked in both metropolitan Melbourne and the regions. The 2024 figure is a 16 per cent increase on the number of people who died from illegal drugs in 2015.' Cr Jolly has been vocal about the issues facing his constituents. He previously referred to Victoria Street as a 'ghetto' and 'Disneyland for drug users'. 'You can get there by train or tram, there's plenty of people that will sell you the drugs, there's plenty of nice houses in Abbotsford and North Richmond you can rob to get the money for the drugs, and there's even a supervised injecting facility that you can shoot up in,' Mr Jolly told 3AW in March. Ha Nguyen, president of the Victoria Street Business Association, said in April that the 'drug market near the injecting room, with anti-social behaviour daily, create public safety concerns and that undermines liveability and damages our economic prospects. 'Families feel unsafe, visitors are hesitant and businesses move away or shut down,' he said. to hear from residents who said they had never seen the neighbourhood in such bad shape. 'I don't feel safe,' 51-year-old long-time resident Jackie said. 'I found one dead body before the injecting room arrived. But there have been more after. 'I feel so unsafe even during the day going for a walk. I get constant verbal abuse and sexual harassment.' The supervised injecting room was granted permanent status next door to Richmond West Primary School in 2023. Since then, there have been numerous incidents including drug users passing out in the street clutching syringes, a dead body opposite the primary school, a man entering the school grounds with a knife and a man exposing himself outside the school fence. North Richmond Community Health, which manages the safe injecting room, says that between 2018 and 2023 there were almost 8000 overdoses inside the facility and all were safely managed.
News.com.au
7 days ago
- News.com.au
Record highs offer opportunity… and a warning
Global equity markets have reached fresh record levels, supported by softer US inflation figures and growing expectations that the Federal Reserve will cut interest rates in September. It's an impressive run, but I believe the enthusiasm may be running ahead of the underlying reality. August rallies are not unusual, and they often have more to do with seasonal trading dynamics than with a meaningful shift in economic conditions. Lower volumes, repositioning by institutional investors, and a tendency for sentiment to swing quickly can all magnify price movements during the summer. This year's surge has the hallmarks of that pattern. The latest moves were fuelled by data showing inflation rising less than forecast, easing fears that tariffs were adding upward pressure to consumer prices. On Tuesday, the S&P 500 closed 1.1% higher at 6,445.76, the Nasdaq gained 1.4% to 21,681.90, and the Dow Jones added 483 points to finish at 44,458.61. The Russell 2000 outperformed with a jump of nearly 3%, as traders positioned for cheaper credit ahead. Futures markets now put the probability of a September rate cut near certainty, and some are even betting on a more aggressive 50 basis-point move after US Treasury Secretary Scott Bessent called for stronger action. But rate expectations can shift rapidly. A single data release, or a change in tone from policymakers at the Jackson Hole symposium later this month, could reset the market's assumptions. Opportunity and risk – discipline is key Earnings season is also sending mixed signals. Cava shares fell more than 22% after the restaurant chain reported weaker-than-expected revenue growth and cut its full-year forecast. In a truly broad-based rally, we would expect to see consistent earnings beats and upgraded guidance across sectors – something the current market has yet to deliver. Global economic conditions remain uneven. The US economy is performing better than many expected earlier this year, but Europe's recovery is still patchy, Asian markets remain volatile, and US-China trade negotiations continue against a backdrop of tension, particularly in technology and semiconductors. Any deterioration in these areas could quickly undermine investor confidence. This is why I see the current market as offering both opportunity and risk. Participating in the upside is possible – but only with a clear understanding of what's driving the move and a willingness to manage exposure if conditions change. Price action driven by sentiment and positioning can reverse just as fast as it climbs. August often gives the illusion of stability before reality reasserts itself in the autumn. For investors, this is a time to remain disciplined, assess whether portfolio gains are built on solid ground, and ensure that risk management plans are in place. It's one thing to benefit from short-term momentum; it's another to depend on it. Nigel Green, is the group CEO and founder of deVere Group, an independent global financial consultancy. The views, information, or opinions expressed in the interviews in this article are solely those of the author and do not represent the views of Stockhead.
News.com.au
13-08-2025
- News.com.au
Top 10 at 11: ASX goes for a dip; mining stocks target critical minerals
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. Profit taking sets the tone The market is in an odd kind of shape this morning, down 0.28% in the first hour with 8 of 11 sectors higher. After setting two new record closing highs this week, it's not terribly surprising to see traders lock in gains by selling down, taking profits in financial and utilities stocks in particular. The ASX 200 Utilities index is up 6.2% for the year so far, while the financials sector has added 8% over the same period. Oil dipped again overnight, sliding to US$66.15 a barrel of Brent. Gold futures also slid, down 0.2% to US3399 an ounce with spot gold trading at US$3344 an ounce this morning. Critical minerals are taking the spotlight in early trade, with three of our four small cap winners for the morning looking to unlock their strategic value. SMALL CAP WINNERS Code Name Last % Change Volume Market Cap SFG Seafarms Group Ltd 0.002 100% 4403092 $4,836,599 OD6 OD6 Metals Ltd 0.054 54% 2041428 $5,616,378 IS3 I Synergy Group Ltd 0.012 50% 6865393 $13,650,399 ATT Altitude Minerals 0.027 35% 2552650 $3,729,213 CHM Chimeric Therapeutic 0.004 33% 170503 $9,763,676 CYQ Cycliq Group Ltd 0.006 20% 100000 $2,302,583 OVT Ovanti Limited 0.007 17% 2193931 $25,645,942 KNG Kingsland Minerals 0.15 15% 23628 $9,432,918 WLD Wellard Limited 0.039 15% 135468 $18,062,511 LML Lincoln Minerals 0.008 14% 220000 $14,892,988 In the news... OD6 Metals (ASX:OD6) is celebrating the production of a mixed rare earth carbonate product of about 56% total rare earth oxides and a mixed rare earth hydroxide product of 59% TREP using feedstock from the Splinter Rock project. Management says the results are a major milestone for the project, demonstrating a simplified and scalable heap leach flow sheet process is suitable for producing high-quality, low-impurity rare earth products. I Synergy (ASX:IS3) has inked an MoU with Treasure Global Inc to purchase AI-based GPUs for a total contract value of $300k. IS3 will pay six monthly instalments to procure high-performance computing hardware and software capable of supporting advanced artificial intelligence applications. Altitude Minerals (ASX:ATT) has identified a zone of zircon and titanium mineralisation with surface sampling at the Nilpinna Eromanga Basin heavy mineral sands project. ATT is gearing up to drill the area in September, targeting areas that graded up to 30% zircon, 40% ilmenite (titanium dioxide), 10% leucoxene (fine-grained titanium dioxide) and 5% rutile (naturally occurring titanium). Kingsland Minerals (ASX:KNG) is a step closer to unlocking the gallium mineralisation at the Leliyn graphite project after the CSIRO's testing demonstrated strong potential for an economical byproduct. While graphite is KNG's main focus at Leilyn, gallium grades up to 135 parts per million in the host rock offer a lucrative opportunity. As a critical mineral, gallium is in high demand, garnering a US$1089 per kilogram price tag. The company says it's working toward a maiden gallium resource estimate, while also advancing a separate graphite-based scoping study to be wrapped up this quarter. SMALL CAP LAGGARDS Code Name Last % Change Volume Market Cap 1AD Adalta Limited 0.002 -33% 102173 $3,463,949 DTM Dart Mining NL 0.002 -33% 3683801 $3,594,167 TMK TMK Energy Limited 0.002 -33% 1350000 $30,667,149 AYT Austin Metals Ltd 0.003 -25% 3930000 $6,336,765 MRQ Mrg Metals Limited 0.003 -25% 691143 $10,906,075 PRX Prodigy Gold NL 0.002 -20% 1 $16,854,657 MRD Mount Ridley Mines 0.0025 -17% 268209 $2,335,467 ANX Anax Metals Ltd 0.006 -14% 45318 $6,179,653 GTR Gti Energy Ltd 0.003 -14% 2121280 $13,029,292 M4M Macro Metals Limited 0.006 -14% 25000 $27,841,923 At Stockhead, we tell it like it is. While OD6 Metals and Kingsland Minerals are Stockhead advertisers, they did not sponsor this article.
