United States President Donald Trump on Sunday (Monday AEST) rejected Iran’s response to a U.S. proposal aimed at ending the conflict in the Middle East, as limited shipping movements resumed through the blockaded Strait of Hormuz amid continuing regional tensions. "I have just read the response from Iran’s so-called “Representatives.” I don’t like it — TOTALLY UNACCEPTABLE," Trump posted on Tr
United States consumer sentiment has fallen to a record low in May as gas prices continue to surge amid the Iran war. According to the University of Michigan’s Survey of Consumers, the consumer sentiment index dropped 3.2% month-over-month and 7.7% year-over-year to 48.2. Economists surveyed by Dow Jones had been looking for 49.7. Consumer expectations were up 0.8% month-over-month to 48.
A ceasefire in the United States-Iran war helped superannuation returns recover in April and almost recoup the losses of the prior month, according to SuperRatings. The superannuation research house estimated the value of a median balanced option in accumulation phase rose by 2.6% in April after falling by 3.2% in March, bringing the financial-year-to-date (FYTD) return to 5.5%. The median g
The United States is now imposing sanctions on individuals and companies who assist Iran with the ongoing war. The State Department made the announcement late last week, confirming that three individuals and 11 entities would be hit with the new sanctions. They are all located across the Middle East and China. “Included in today’s actions are several China-based entities providing satelli
United States job growth exceeded expectations in April, although several indicators within the closely watched nonfarm payrolls report pointed to a labour market that continues to lose momentum amid broader economic uncertainty. The Bureau of Labor Statistics (BLS) reported on Friday that nonfarm payrolls increased by a seasonally adjusted 115,000 during the month, above market expectations fo
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Giorgio Armani Group is weighing a three-way split of an initial 15% stake among LVMH, L'Oréal and EssilorLuxottica - the three buyers its late founder named in his will - as the Milan-based house prepares to formally launch a succession-driven ownership process, Italian daily La Repubblica reported on Sunday, without citing sources. Each of the three groups - already named as preferred buyers
A United States trade court has dealt another setback to President Donald Trump’s tariff agenda, ruling that his temporary 10% global tariffs imposed under a decades-old trade law were unlawful, although the decision only blocks the duties for two importers and the State of Washington. The U.S. Court of International Trade ruled 2-1 that Trump’s use of Section 122 of the Trade Act of 1974 to im
Toni Briggs-Brown re-launched TH Brown after realising the 115-year-old heritage furniture brand still had legs. Following taking over the brand, Briggs-Brown defined herself as a refounder of the business as she was refining the brand and bringing it into the future. “To me, every founder is not taking anything from someone who finds a founder of a new business or a founder of a new brand,
Global gold demand reached a record value in the first quarter of 2026, as surging prices and geopolitical uncertainty reshaped investor behaviour, with Asian buyers leading a decisive shift towards physical bullion. According to the World Gold Council’s Gold Demand Trends report, total demand, including over-the-counter trading, rose 2% year-on-year to 1,231 tonnes. However, the modest incr
Mortgage rates continued to climb even higher last week, causing current and potential homebuyers to retreat from the market. According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume fell 4.4% compared to the week before. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, inc
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