Global oil markets have reacted swiftly to escalating tensions in the Middle East as the United States and Israel continue their assault on Iran.
After oil tanker traffic through a key chokepoint, the Strait of Hormuz, stopped,
the benchmark oil price, Brent crude, jumped about 6% to over US$77 a barrel. It initially spiked as high as US$82, its highest level since January 2025.
Travellers are being advised not to cancel their tickets for flights through the Middle East and check with their airlines, as airspace remains closed indefinitely.
If travellers cancel a ticket, they may lose some of their consumer rights and ability to claim refunds.
Katharine Braddick CB appointed as the next Deputy Governor for Prudential Regulation at the Bank of England and Chief Executive of the Prudential Regulation Authority, succeeding Sam Woods when his term ends in June 2026.
Getty ImagesThe steady embrace of artificial intelligence (AI) in the public and private sectors in Australia and New Zealand has come
The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.
The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.
Claudio Schwarz/UnsplashYou’re scrolling through an online retailer, like Amazon, Shein or eBay, and spot a shirt on sale for $40. You add it to your cart, but at checkout, a $10 shipping fee suddenly appears. Frustrated, you close the tab.
But what if that same shirt was priced at $50 with “free” shipping? The likelihood that you would have bought it without a second thought is much higher.
Vitaly Gariev/UnsplashAfter just three rate cuts in 2025, interest rates have risen again in Australia this year. It’s unwelcome news for many borrowers – particularly those still struggling with the increasing cost of living.
Using regional data for 11 euro area countries from 1999 to 2023, instead of country-level data, we find that inflation still responds to economic slack, but this relationship is more modest and largely shaped by inflation expectations. This implies that traditional demand-side central bank policies may have limited direct effects on inflation, highlighting that anchoring expectations is essential for effective monetary policy transmission.
Yan Krukov/PexelsThe federal Coalition has proposed an alternative to the universal child care system involving vouchers that could be used for long daycare, family daycare, nannies or a combination of these.
