The United States has said it will blockade Iran's ports after Friday’s peace talks with Iran ended without a deal. While President Donald Trump had claimed the Strait of Hormuz would be entirely blockaded, U.S. Central Command (CENTCOM) later said it would only apply to ships entering or exiting Iranian ports and coastline. “The blockade will be enforced impartially against vessels of all n
Consumer sentiment in the United States has fallen to its lowest level on record, as households brace for rising prices linked to the Iran war and a surge in energy costs, according to closely watched survey data released Friday. The preliminary April reading of the University of Michigan’s consumer sentiment index dropped to 47.6, a 10.7% decline from March and the weakest result in the survey
Iraq’s parliament voted to elect Nizar Amidi as president five months after a parliamentary election that didn’t produce a bloc with a decisive majority. Amidi is a political official with one of the country’s two main Kurdish parties, and he beat out a roster of candidates that included Iraq’s current Foreign Minister, Fuad Hussein, who was the pick of the rival Kurdistan Democratic Party.
United States inflation soared in March amid the war in Iran and sent the Federal Reserve further from its inflation target. According to the Bureau of Labor Statistics (BLS), the consumer price index rose 0.9% for the month and climbed 3.3% year-over year. This was pushed by a 10.9% surge in energy costs. Energy prices have been heavily impacted by the effective closure of the Strait of
Taiwan Semiconductor Manufacturing Co. reported record revenue last quarter as price increases on its advanced chips began to take effect. Revenue for the quarter ending in March was up 35% year-over-year to NT$1.13 trillion (US$35.6 billion), above LSEG consensus estimates of $1.13 trillion. This is at the upper end of the company’s guidance range for the quarter, which had projected revenu
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The Melbourne Motor Show celebrated its second edition since returning last year by highlighting 120 exhibitors from 10-12 April, with electric and hybrid vehicles representing most major reveals. The event was set to welcome 100,000 attendees, with around 23% visiting from other states, organisers said on the Motor Show’s first day. It included 40,000 metres of exhibition space, featuring bran
The ongoing war in Iran can push an additional 32 million people into poverty. New projections from the United Nations Development Program (UNDP) show that as the war enters its sixth week, the impacts are evolving from an ‘acute’ to ‘enduring’ phase, putting people from 162 countries at risk of poverty. Countries in the Gulf region, Asia, Sub-Saharan Africa, and Small Island Developing Stat
The Japanese Government will provide an extra ¥631.5 billion (US$4 billion) to Rapidus to develop the next generation of computer chips. The announcement was made by Japan's industry ministry and the Government-backed semiconductor manufacturer on Saturday (Sunday AEST). The support from the ministry’s New Energy and Industrial Technology Development Organisation (NEDO) brings total researc
OpenAI is improving its online security after discovering an issue involving a third-party developer tool, Axios. The privately-owned company best known for its ChatGPT artificial intelligence (AI) chatbot said the issue was part of a widely-reported broadly industry incident. “Out of an abundance of caution we are taking steps to protect the process that certifies our macOS applications are
Anyone old enough to remember the folk rock band, America, may recall the lines from the early 1970s classic, Sandman, which laconically asks: Oh I almost forgot to ask, did you hear of my enlistment? Fast forward fifty-plus years and this question may no longer be a rhetorical reference to being drafted to serve in Vietnam. If the United States President Donald Trump – exempt from serving in V
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