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’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
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
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
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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The deck chairs are being reshuffled in Australian sports administration, with Tennis Australia appointing National Rugby League (NRL) Chief Executive Officer (CEO) Andrew Abdo as its new CEO. Abdo replaces Craig Tiley, who earlier this year announced he would leave Tennis Australia to become CEO of the United States Tennis Association (USTA). The Australian Rugby League Commission (ARLC) sa
Competition in the artificial intelligence (AI) market has escalated with DeepSeek announcing it will permanently slash prices for its flagship artificial intelligence tool by 75%. The Chinese artificial intelligence startup said it would lower the price of its V4 Pro model to between 0.025 and 6 yuan per million tokens ($0.0035 to $0.83), depending on usage type, from 0.1 to 24 yuan per millio
Ukraine has been hit with a deadly hypersonic missile attack from Russia, the third of its kind since the war began. The attacks were carried out overnight, involving hundreds of drones and missiles, including the powerful hypersonic Oreshnik. Kyiv was the primary target, with water and electricity facilities hit, alongside residential buildings and a school, with the strikes also leaving th
Nvidia's chief executive has confirmed China is part of the company's US$200 billion CPU market projection, even as export restrictions have prevented a single H200 chip from reaching a Chinese customer. Jensen Huang arrived at Taipei's Songshan Airport on Saturday ahead of next month's Computex trade show and a scheduled meeting with TSMC chairman C.C. Wei. The meeting is focused on securin
Kevin Warsh has been sworn in as chair of the Federal Reserve at a pivotal moment for the United States economy, as policymakers grapple with rising inflation pressures linked to the conflict involving Iran and Israel and growing concerns over consumer confidence. Warsh signalled an intention to pursue major reforms at the central bank shortly after taking the oath of office. “I will lead a