Sharpest

• Asian stock markets declined on Monday as investors aggressively sold off AI-linked technology shares. • South Korea's KOSPI index suffered the most significant blow, experiencing a sharp drop that triggered a trading halt. • Market instability was further exacerbated by rising oil prices and escalating geopolitical tensions in West Asia.

Firms hit by ‘perfect storm’ of uncertainty about Labour leadership and impact of Iran warBusiness live – latest updatesCompanies in the UK’s dominant services sector have reported one of the sharpest declines in business activity in a decade, according to a closely watched index.Businesses are grappling with a “perfect storm” of domestic political uncertainty around Keir Starmer’s leadership as prime minister and the growing impact of the Iran war, leading to soaring costs, supply shortages and job cuts, the report said. Continue reading...

Iran war is driving up prices for fuel and raw materials, says survey Business live – latest updatesConstruction companies in the UK are experiencing some of the sharpest cost rises in nearly 30 years as the war in Iran drives up prices for fuel and raw materials, according to a closely watched survey.The poll of UK construction companies found that input cost inflation – which accounts for expenses such as raw materials, energy and labour – rose last month to the highest level since June 2022 when there was a spike in commodity prices caused by Russia’s invasion of Ukraine. Continue reading...