The chips are down: pizza, fried chicken and doughnut shares plunge on ASX as living costs bite budgets

• The United Arab Emirates withdrew from OPEC yesterday, marking a historic split from Saudi Arabia during the escalating regional crisis. • This decision coincides with the Strait of Hormuz being almost entirely shut down due to a US naval blockade aimed at halting Iranian oil exports. • The US is threatening to cut off major Chinese banks from its financial system to prevent processing of Iranian oil, intensifying global energy tensions.

Senior police officer warns of young people being drawn into violent extremism as Alfie Coleman found guiltyMore and more young people are being drawn into the world of violent extremism, a senior police officer has warned, as a young neo-Nazi was convicted of planning a mass gun attack after being caught in an undercover MI5 sting.Alfie Coleman, a former supermarket worker from Great Notley in Essex, compiled a hate-list of colleagues and customers he branded with racial slurs or as “race traitors”. He wrote a “manifesto” in a diary and identified potential targets, including the “lord mayor of London” and a mosque. Continue reading...

The prime minister also accused anyone marching alongside Hamas supporters of ‘venerating the murder of Jews’Golders Green attack – latest updatesKeir Starmer has called on people to “open their eyes to Jewish pain” in the wake of the Golders Green terror attack, and accused anyone marching alongside supporters of Hamas of “venerating the murder of Jews”.The prime minister made his strongest ever remarks on antisemitism after visiting the area of the attacks for a meeting with emergency workers and community leaders. Continue reading...

Move comes after mayor Zohran Mamdani spoke on return of the Koh-i-noor diamond after UK royals’ visit to New YorkHundreds of antiquities valued at $14m have been returned to India by New York authorities, including some connected to the alleged art smuggler Subhash Kapoor, in a move that is likely to raise the pressure on others to make similar gestures.The return of 657 antiquities was announced by the Manhattan district attorney, Alvin Bragg Jr, on Tuesday, and came as New York City’s mayor, Zohran Mamdani, waded into the historically contentious ownership of the 105.6 carat Koh-i-noor diamond. Continue reading...

Lee Zeldin claims before Senate that Trump administration plan will make Environmental Protection Agency ‘more efficient’Senate Democrats accused the Trump administration of abandoning the Environmental Protection Agency’s mission to protect human health and the environment at a congressional hearing Wednesday, slamming agency leadership over a proposal to cut its budget in half.Lee Zeldin’s appearance before the Senate environment committee was the EPA administrator’s last of three budget hearings this week where he argued for sharply reduced funding for the agency, which already has seen its staffing reduced to its lowest level in decades under his leadership. During much of the week, the former Republican congressman from New York took an aggressive approach, responding to Democrats in the House and Senate with his own questions and at times accusing them of being unprepared or failing to care about the EPA’s record. Continue reading...

Hope that sessions of MDMA-assisted therapy could help soldiers fight longer by helping them process traumaAs the war on drugs approaches its end, a new doctrine could soon take hold: psychedelic drugs for active-duty soldiers suffering from PTSD.In two studies funded by the Department of Defense (DoD), 186 service personnel with PTSD will likely next year undergo multiple sessions of MDMA-assisted therapy. Continue reading...

State’s governor and attorney general move to postpone midterm 2026 primaries just a day after supreme court ruling guts Voting Rights ActLouisiana postpones primaries as states rush to redraw districts after supreme court rulingHere’s more of that statement from Louisiana attorney general Liz Murrill and Republican governor Jeff Landry:Yesterday’s historic Supreme Court victory for Louisiana has an immediate consequence for the State. The Supreme Court previously stayed an injunction against the State’s enforcement of the current Congressional map. By the Court’s order, however, that stay automatically terminated with yesterday’s decision. Accordingly, the State is currently enjoined from carrying out congressional elections under the current map. We are working together with the Legislature and the Secretary of State’s office to develop a path forward. Continue reading...

Exclusive: Government should back projects that prioritise renewables to protect consumers from ongoing price shocks, they sayGet our breaking news email, free app or daily news podcastFormer oil and gas industry leaders, including senior executives from BP and Shell, are warning the Albanese government that Australians risk ongoing price shocks and higher costs if it prioritises fossil fuel development in response to the global energy crisis.Sixteen ex-executives and professionals – who had worked for companies including Woodside, Inpex, Exxon Mobil and Esso – have urged the government to reject calls for fast-tracked gas and coal extraction, arguing it would do nothing to improve the nation’s liquid fuel security. Continue reading...

State’s police minister says buyback ‘doesn’t focus on keeping guns out of the hands of terrorists and criminals’, leaving NSW only clear supporter of planGet our breaking news email, free app or daily news podcastQueensland has rejected key recommendations from the Bondi royal commission’s interim report, insisting plans for a national gun buyback will not keep weapons “out of the hands of terrorists and criminals”.The report, handed down by commissioner Virginia Bell on Thursday, raised doubts about whether efforts to establish a national gun register after the 2022 police killings at Wieambilla in Queensland had been “unduly leisurely”. Bell recommended the federal government and the states speed up a jointly funded weapons buyback scheme. Continue reading...

UK was close behind, exporting 675,000 tonnes, with much of the waste sent to Turkey, Malaysia and Indonesia Germany was the world’s largest exporter of plastic waste in 2025 and sent more than 810,000 tonnes abroad, according to analysis of trade data carried out for the Guardian.The UK followed close behind, according to the analysis by Watershed Investigations and the Basel Action Network. It exported more 675,000 tonnes, its highest level in eight years and enough to fill about 127,000 shipping containers. Continue reading...

Experts estimate ‘accounting of the harm that was done’ by 200 years of chattel slavery would be US$2tn in damagesBritain stole 25 million years of life and labour through slavery in Barbados, according to new research by a team of international experts.Their report concludes that Barbados’s population of African descent have suffered damages estimated at up to US$2tn (£1.5tn) from 200 years of chattel slavery. Continue reading...