Gas Firms Must Set Aside Local Supply Under Labor Plan
Australia's Labor government proposes forcing gas companies to reserve domestic supply, aiming to lower prices and secure energy for households and businesses.
Category : Economy GDP
Iran Deal Revives; Shell Profits Surge; Oil Markets React
As oil giant Shell announces robust profits, the revived Iran nuclear deal promises to reshape global energy markets. Stock markets show mixed reactions.
UK Investors Return to Equities After 10-Month Sell-Off
UK investors ended a 10-month selling spree in April, adding £1.1bn to equity funds. Inflows were concentrated in US and global funds, while UK and other regions saw outflows.
California Gas Crisis: Last Middle East Oil Tanker Arrives
California's gas prices top $6 as last oil tanker from Middle East arrives, raising supply concerns amid Iran war and Strait of Hormuz closure.
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Fertiliser Shortages to Cause Dramatic Global Food Price Hikes
Fertiliser costs for UK farmers have surged by up to 70% due to the Iran war and closure of the Strait of Hormuz, with dramatic impacts on global food prices expected next year, warns Grosvenor Group.
Discovery, Quantedge Gain in April Market Recovery
Discovery Capital and Quantedge posted gains in April as a ceasefire-driven market recovery boosted hedge fund returns, reversing March losses.
62% of Gamers Skip Full Price Games, Survey Finds
A new survey reveals 62% of hardcore gamers avoid full price games, with Gen X least likely to pay full price. Millennials and Gen Z show different habits.
AI Boom to Drive Up Electronics Prices, Tech Earnings Show
Tech giants' soaring AI spending is raising memory chip costs, leading to higher prices for smartphones, laptops, and other devices for consumers.
Rubio: US 'Fortunate' as Gas Prices Near $4.50
Secretary of State Marco Rubio says the US is fortunate as gas prices approach $4.50 per gallon due to the US-Israel war on Iran, claiming other countries are suffering more.
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Jet Fuel Crisis: How War in Iran Could Ground Flights
Jet fuel prices have doubled since the Iran war began. Explore the potential grounding of flights, economic impacts, and the push for sustainable aviation.
RAMageddon: Cheap Laptops and Phones at Risk Due to AI Chip Demand
A memory chip shortage driven by AI demand is causing price hikes on laptops, phones, and consoles. Budget models under £400 may disappear by 2028 as costs rise.
Snow Forecast for Three States as Cold Front Hits Australia
A cold front and high-pressure system bring snow to Victoria, Tasmania, and NSW, with temperatures plunging across southern Australia.
Starbucks CEO's $9 Coffee Remark Draws Ire
Starbucks CEO Brian Niccol calls $9 coffee an 'affordable luxury' as millions struggle. Critics slam his $96m pay and private jet commute. Arwa Mahdawi offers satirical advice.
Melbourne Declaration: Hope for India's Invisible Female Workers?
A 16-year-old bidi roller in India symbolizes the gap between global gender equality pledges and ground reality. The Melbourne Declaration aims to change that.
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JD Wetherspoon Issues Third Profit Warning on Rising Costs
JD Wetherspoon issues third profit warning as rising costs hit UK hospitality. Chair Tim Martin warns of potential profit miss amid energy, food, and wage hikes.
Labor's Trust Tax Tweaks Could Reduce Inequality
Greg Jericho argues that Labor's rumored 30% minimum tax rate on discretionary trusts could curb tax avoidance by the wealthy, reducing inequality.
FTSE 100 Banks Face £2.5bn Headwinds Amid Iran and Credit Risks
FTSE 100's Big Five banks report £15.6bn profit but face £2.5bn headwinds from Iran conflict and private credit exposure, with HSBC and Barclays most affected.
UK Consulting Growth of 5.7% Amid Cost and Cyber Challenges
The UK consulting sector is set to grow by 5.7% this year as businesses grapple with rising costs, cyber risks, and stagnant growth, according to a new MCA report.
UK Consulting Sector to Grow 5.7% Amid Budget Pressures
The UK consulting sector is set to grow 5.7% in 2026, driven by cost management and budget constraints, though down from earlier 9% forecast. AI adoption faces caution.
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Hormuz Crisis May Cause UK Job Losses, Minister Says
Work and Pensions Secretary Pat McFadden warns that the Iran war and Strait of Hormuz closure could lead to UK job losses, rising energy and food costs.
Oil Prices Fall, FTSE 100 Rises After Trump Halts Hormuz Escort
Oil prices dropped to $106 per barrel and the FTSE 100 rebounded after President Trump paused the military escort operation through the Strait of Hormuz, sparking 'TACO' jokes.
Top Barriers for Brits Starting Businesses: Funding, Confidence, Age
A poll of 2,000 adults reveals lack of funding (60%), confidence, and age are key barriers to starting a business. Many seek advice but are unaware of government support.
Diageo Shares Jump 5% on World Cup Sales Boost
Diageo shares rose 5.2% after reporting 2.3% net sales growth, driven by World Cup advance sales and strong Guinness demand in Europe.
FTSE 100 Live: Stocks Jump as Trump Ends 'Project Freedom'
Gilt yields hit 28-year high amid political uncertainty. Trump pauses 'Project Freedom' for Iran peace deal, boosting markets. OBR reveals £23.1bn borrowing need.
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Falling Cooking Oil Prices Keep Supermarket Costs in Check
City AM's survey of three major supermarkets shows minimal price changes in May, with cooking oil dropping 14% and overall inflation near zero, despite concerns of future increases.
Fossil Fuels Essential for Food Security
Bjorn Lomborg argues that the Strait of Hormuz crisis shows fossil fuels are vital for food security, criticizing climate alarmism and advocating for accessible fertilizers.
UK Expert Warns of 40C Summer Heatwave in London
Weather expert Jim Dales warns of possible 40C heatwaves this summer, citing record fossil fuel emissions and El Niño effects. London may face temperatures above 30C.
Labour Leadership Hopefuls Court Bond Market Credibility
Angela Rayner and Andy Burnham are trying to reassure bond markets amid fears they could loosen fiscal rules if they replace Keir Starmer as Labour leader after local elections.
Reform UK Immigration Policies Risk UK Economy
Former MPC member Sushil Wadhwani warns that Reform UK's anti-immigration policies could cause economic disruption akin to Idi Amin's Uganda, urging electoral reform for stability.
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Australia Abandons Half of Inland Rail Project
The Albanese government drastically scales back the inland rail project, abandoning plans to connect NSW and Queensland, as costs exceed $45bn. $1.75bn reallocated to other rail upgrades.
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