The United States Federal Reserve has held its benchmark interest rate steady, as policymakers assess persistent inflation pressures, mixed labour market signals and the uncertain economic fallout from the war with Iran. In a widely anticipated move, the Federal Open Market Committee voted 11-1 to maintain the federal funds rate within a target range of 3.5%-3.75%. The benchmark rate influen
Australia’s unemployment rate rose unexpectedly in February, though total employment also climbed as more people moved into part-time work. The seasonally adjusted unemployment rate grew by 0.2 percentage points to 4.3% last month, the Australian Bureau of Statistics (ABS) said. This represents an increase of 35,000 people and surpassed Westpac forecasts of 4.1%. “This month we saw fewer peo
Micron Technology (NASDAQ: MU) delivered fiscal Q2 results that didn't just top consensus - they rendered predictions largely irrelevant, with revenue landing at US$23.86 billion for the three months to March. That figure marks an eye-whopping 196% increase year-on-year (YoY) from $8.05 billion and a 75% sequential leap, according to the company's quarterly earnings release, against an LSEG con
United States wholesale prices rose far more than expected in February due to a large increase in service prices, with prices for vegetables and gasoline products also climbing. The producer price index increased 0.7% during February and 3.4% annually, the Bureau of Labor Statistics (BLS) said. Dow Jones-polled economists had projected an 0.3% increase. The spike was largely due to rising pr
French President Emmanuel Macron has refused any immediate action in the Strait of Hormuz, but said France could help escort ships through the waterway once the situation was “calmer”. At the start of a defence council meeting in Paris, Macron said it was out of the question for France to take part in operations to open or liberate the strait, citing the ongoing conflict in the region. “Fran
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Mortgage applications in the United States have dropped significantly in mid-March, with a sudden spike in interest rates chilling refinance activity, according to data from the Mortgage Bankers Association (MBA). Mortgage applications fell 10.9% on a seasonally adjusted basis on the week ending 13 March. This was likely triggered by increasing borrowing costs across the board, with 30-year
Australia’s e-commerce market rose to a record A$82.6 billion in 2025, with spending growing across generational groups and regions. E-commerce spending was up 14% year-over-year, according to Australia Post’s 2026 eCommerce Report. This represented around 24% of all retail spending, increasing 1.6 percentage points from 2024. “Across the generations, the numbers reveal a consistent desire f
Qatar's Raf Laffan Industrial city is suffering “extensive damage” after an Iranian strike. Ras Laffan, the largest LNG production facility in the world, was hit by missiles on Wednesday, amidst ongoing attacks across the Middle East and a worsening fuel crisis. The state oil company QatarEnergy confirmed the attacks via social media, stating that while emergrency response teams had been dep
Meta is closing down its virtual reality platform, 'Horizon Worlds’, after only a few years. Horizon Worlds launched at the end of 2021, with a mobile version in 2023, but struggled to gain continued success. Designed as a VR social environment for Meta's Quest headsets, it allowed users to create avatars, play games with one another and socialise. But despite billions in investment and d
Financial advisers have welcomed reforms to their education requirements proposed by the Australian Government as the nation deals with a severe shortage of advisers in the wake of an exodus over the last seven years. The Financial Advice Association of Australia (FAAA) and Financial Services Council (FSC) backed consultation on the reforms announced by Assistant Treasurer and Minister for Fina
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