United States President Donald Trump has ordered a federal development bank to underwrite political risk insurance for all commercial shipping transiting the Persian Gulf. In a move aimed at containing a surge in global energy prices following joint U.S.-Israeli strikes on Iran, Trump also flagged the deployment of U.S. naval escorts through the Strait of Hormuz. In a statement posted on Tuesd
Chancellor Rachel Reeves said her economic plan is the right one even in uncertain times, despite growth estimates for the United Kingdom being lowered for this year. “(It’s) a plan that is even more important in a world that, in the last few years, has become yet more uncertain,” she said. This comes as the Office for Budget Responsibility (OBR) cut its expected growth rate for 2026 to 1.1%
American businesses and households are absorbing the overwhelming share of President Donald Trump’s tariffs, according to John Williams, in remarks that directly challenge White House assertions that foreign exporters would shoulder the cost. Speaking at a conference in Washington, D.C., the president of the Federal Reserve Bank of New York said recent analysis shows the burden has fallen squar
Target Corporation shares rose after it forecast its first sales growth in four years, despite reporting a fall in profit for the fourth quarter (Q4) of 2025. The American big-box retailer said net earnings dropped 5.2% to US$1.046 billion (A$1.484 billion) and diluted earnings per share (EPS) eased 4.5% to $2.30 on net sales which dipped 1.5% to $30.453 billion in the three months ended 31 Jan
While BYD Company (HK:1211) remains a global player in the electric vehicle market, a significant downturn in early 2026 has more to do with ‘The China’ factor than a material slowdown in demand for EVs globally. Having been embroiled in a brutal domestic price war, BYD - the world’s largest electric car maker - recently lost its top car moniker in China to rival Geely Automobile Holdings (HK:0
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Jonathan Anderson has showed his latest Dior collection in Paris this week, for Autumn-Winter 2026. Appointed as creative director of the fashion house last year, this marks Anderson's second ready-to-wear women's collection and fifth collection overall so far, with Simon Longland, director of fashion buying at Harrods, calling it “his strongest collection to date”. The show took place at th
Congress will vote on war powers for Iran this week, after attacks were launched over the weekend. Washington and Israel launched drone strikes across Iran and the surrounding United Arab Emirates over Sunday and Monday, ahead of an already planned vote in congress for a war powers resolution "This is a disaster, it is illegal, and the president is obligated under the Constitution to come to
Economic growth in Australia continued to accelerate in the last quarter of 2025, according to the Australian Bureau of Statistics (ABS). The ABS said gross domestic product (GDP) increased by 0.8% in the December quarter of 2025 and 2.6% in the year to December 2025, in seasonally-adjusted terms. Head of National Accounts Grace Kim said GDP per capita increased for the fourth consecutive qu
AWS said late Monday that two of its data centers in the UAE and a facility in Bahrain were damaged by drone strikes, taking the facilities offline. Amazon Web Services has taken a hit from ongoing drone strikes in the United Arab Emirates, leaving banking, taxi and payment service platforms all down. Two of AWS' data centres were hit in strikes on Monday, with a range of apps impacted as a
Apple has launched new MacBook Pro and MacBook Air models with the company’s M5 chips, though they will be more expensive than previous generations amid the industry-wide memory shortage. The new M5 chips include a faster central processing unit and a next-generation graphics processing unit, which Apple has said will enable complex artificial intelligence tasks. The MacBook Pro also features M
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