US, Iran temper hopes of swift peace deal
Iran and the United States sought to temper expectations of an imminent breakthrough in their three-month conflict on Monday, despite reports that negotiations had advanced on reopening the Strait of Hormuz and extending a fragile ceasefire. U.S. Secretary of State Marco Rubio said Washington remained committed to diplomacy but warned there were alternative options if talks failed. Speaking
Israel intensifies strikes on Lebanon amid ceasefire
Israel’s air force struck multiple Hezbollah-linked targets across Lebanon late on Monday, including positions in the eastern Bekaa Valley, as Israeli Prime Minister Benjamin Netanyahu vowed to intensify military operations against the Iran-backed militant group. Netanyahu’s warning came amid an uptick in Hezbollah’s use of fibre optic drones against Israeli forces in southern Lebanon and north
IMF warns that EU must reform in face of joint debt
European Union countries will face large bills for defence, energy and pensions in the next 15 years, the International Monetary Fund told EU finance ministers on Saturday, suggesting a mix of reforms, consolidation and joint borrowing to manage them. "If left unchecked, public debt will be on an unsustainable path. Under unchanged policy, debt of the average European country would reach 130 p
GYG US exit leaves sour taste as fast food workers sue
A group of United States employees has launched legal action against Guzman Y Gomez (GYG) over the sudden closure of its American operations as the potential cost of this failed expansion attempt starts to mount. The lawsuit filed in an Illinois federal court alleges the ASX-listed Mexican-themed chain failed to give adequate notice to staff before shutting all of its Chicago-area restaurants
US consumer sentiment sinks to new low
United States consumer sentiment fell to a fresh record low in May as households grew increasingly concerned that the conflict involving Iran and elevated oil prices would drive inflation higher and weigh on the broader economy. The University of Michigan’s Surveys of Consumers said Friday that its consumer sentiment index declined to 44.8 from a preliminary reading of 48.2 and was sharply lowe
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