Shares in Domino’s Pizza, KFC operator Collins Foods and multi-brand food franchise owner Retail Food Group have all suffered double-digit fallsGet our breaking news email, free app or daily news podcastOnce a symbol of cheap eating, fast food is transforming into a luxury many can no longer afford due to resurgent living costs.This shift is reflected on the ASX, where major pizza, fried chicken and doughnut outlets are seeing significant price drops, raising the question: are consumers so downbeat that they are even giving up on fast food? Continue reading...
Defense secretary to be quizzed by lawmakers on Senate armed services committee after bad-tempered session in House yesterdaySign up for the Breaking News US email Hello and welcome to our US politics coverage as Pete Hegseth faces a second day of grilling from Democrats on Capitol Hill, with senators getting their first opportunity to confront or praise the Pentagon chief over his handling of the Iran war.The defense secretary battled with Democrats - and some Republicans - yesterday during a nearly six-hour House armed services committee hearing, where he faced questioning over the war’s costs in dollars, lives and the diminishing stockpiles of critical weapons.US economic growth likely accelerated in the first quarter on a rebound in government spending after a crippling government shutdown. The anticipated increase in gross domestic product last quarter also would reflect robust growth in business investment in equipment, fueled by an artificial intelligence spending boom and the building of data centers underpinning the technology. Figures will be out at 8.30am ETKing Charles and Queen Camilla are expected to make stops in Virginia before wrapping up their US visit back at the White House on Thursday with a formal farewell from Trump. Charles will then travel solo to Bermuda on his first visit as king to a British overseas territory.Senate minority leader Chuck Schumer said that Democrats will once again force a vote on a war powers resolution on Iran, the sixth time in recent weeks. “This week, Democrats will force a vote on our war powers resolution for the sixth time. We’ll continue to force votes every week as this war rages on,” Schumer said from the Senate floor.The House approved a three-year reauthorization of a divisive US surveillance program ahead of its expiration on Friday, adding new oversight measures but stopping short of the warrant requirement that critics have demanded. A large group of Democrats joined most Republicans in passing the bill by a 235-191 vote.Trump once again reinforced his feelings towards James Comey in a social media post. Commenting on the accusation that the former FBI director called for him to be killed after posting a picture of some seashells in a pattern showing 86 47, Trump wrote: ““86” is a mob term for “kill him.” They say 86 him! 86 47 means “kill President Trump.”James Comey, who is a Dirty Cop, one of the worst, knows this full well! EIGHT MILES OUT, SIX FEET DOWN! Didn’t he also lie to the FBI about this??? I think so!”. Trump is the 47th president of the US.The US supreme court’s conservative majority struck down a major element of the Voting Rights Act which protects against racial discrimination in redistricting, in a ruling that paves the way for aggressive gerrymandering in states across the nation that could affect elections for years to come.The Florida Legislature approved a new congressional map intended to maximize Republicans’ advantage in the state as part of the national redistricting battle that Republicans launched ahead of this year’s midterms.Outgoing Federal Reserve chair Jerome Powell said he will stay on as a central bank governor when his leadership term ends in just over two weeks.The Department of Justice announced on Wednesday that three anti-ICE protesters have been charged with allegedly assaulting Savannah Hernandez, a rightwing video journalist who was shoved to the ground during a skirmish with three members of a family outside an immigration detention facility in St Paul Minnesota this month. Continue reading...
Consumer insight tracker shows 85% are worried about food prices and a majority think the economy will deteriorateThree million UK households are being forced to skip meals as consumers resort to drastic measures to deal with rising costs, according to a Which? report published on Thursday.The conflict in the Middle East and subsequent surge in oil and raw material prices has led to businesses preparing to raise prices, putting more pressure on household finances and hitting consumer confidence. Continue reading...
• Gas prices have surged above $4 per gallon and flights skyrocketed as the Strait of Hormuz blockade impacts energy markets amid the US-Israel war with Iran, eroding Trump's key political advantage.
• More than three-quarters of registered voters—including over half of Republicans and 82% of independents—now blame Trump for the cost-of-living crisis affecting fuel, groceries, housing, and healthcare.
• Trump's second-term approval ratings have fallen far faster than previous presidents after a government shutdown, tariffs, and the joint US-Israel attack on Iran, with Federal Reserve Chair Jerome Powell warning the war is fueling inflation.
• Nearly two-thirds (64%) of U.S. adults worry about affording health care costs, with 30% very worried, topping affordability concerns over gas prices.
• Health care affordability remains the public's primary worry despite other economic pressures.
• Poll highlights ongoing financial strain on households amid rising medical expenses.
Brown calls for police to look into former prince’s use of public funds as he says he had colleague raise issue in 2008Gordon Brown has revealed he ordered that Andrew Mountbatten-Windsor be questioned about incurring “unacceptable costs” as a trade envoy in 2008, as he called for the police to widen their inquiry to include the use of public funds.The former prime minister said he asked a colleague from the business department to question Mountbatten-Windsor about his travel expenses. Continue reading...
Insolvency firm points to tax rises, staff costs and shaky consumer confidence after number increases to 62,193The number of UK businesses in “critical financial distress” has risen by more than a third over the past year, according to insolvency practitioners, as companies contend with a “slew of increased taxes” and the impact of the Middle East conflict.Hospitality and leisure firms have been faring particularly badly because of shaky consumer confidence, and rising taxes and staff costs, according to research by the restructuring company Begbies Traynor. Continue reading...
Fishing companies can also access up to 70% subsidies, in loosening of state aid rules for ‘most exposed sectors’Business live – latest updatesThe EU is to subsidise up to 70% of the extra cost of fuel and fertilisers caused by the Iran war for farmers, fishing businesses and road hauliers as part of a package of emergency measures unveiled on Wednesday.Individual companies can claim up to €50,000 each between now and the end of the year with minimum paperwork, a measure the EU hopes will remove what it sees as an existential threat to hauliers and farmers. Continue reading...
Exclusive: Report shows cost of first appointment rose $20 in one year, with steeper rises in Western Australia, South Australia and TasmaniaGet our breaking news email, free app or daily news podcastPatients are increasingly going without medically necessary dermatological care, the head of the Consumers Health Forum said, as new report reveals the rising cost of the specialty in Australia.Dermatology is expensive and getting pricier, with an average first visit now costing an adult patient without concessions $230 out-of-pocket, while follow-up appointments cost almost $190, the report from health directory Cleanbill found. Continue reading...
• The Department of Justice dropped its criminal investigation into Federal Reserve Chair Powell regarding the agency's building expenditures, marking a significant development in federal oversight.
• The decision came amid broader discussions on Capitol Hill about federal accountability, with both Republican and Democratic representatives weighing in on the implications.
• The outcome reflects shifting priorities in federal investigations and debates over Fed governance and spending practices.
Officials hope more casual attire for public servants will save electricity during Iran war as summer approachesPublic servants working for the Tokyo metropolitan government are being encouraged to swap their suits for shorts this summer to combat sweltering heat and rising energy costs caused by the US-Israel war on Iran.Inspired by the country’s Cool Biz energy-saving initiative, Tokyo officials hope the measure will cut dependence on air conditioning. Continue reading...
Farmers have been calling for higher prices for weeks, amid soaring diesel and fertiliser costs and limited supplyGet our breaking news email, free app or daily news podcastColes has increased home-brand milk prices by up to 20c a litre, with Woolworths set to follow as war in the Middle East starts to hit Australian grocery costs.The price rise will support the company’s bottom line against pressure from higher fuel and operating costs, while some of the revenue will be temporarily passed on to dairy farmers. Continue reading...
The trend has been accelerated by the US-Israel war on Iran, leaving households – and cafe owners – glum, surveys suggestFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastFor many coffee drinkers, takeaway orders are changing from a habitual purchase to an occasional treat, as elevated petrol prices and other living costs leave households feeling glum.This rapid shift in behaviour has disappointed cafe owners and surprised economists, raising an uneasy question: if takeaway coffee sales are falling, is the economy next? Continue reading...
• Oil prices dropped significantly, providing tailwinds for technology companies as lower energy costs reduce operational expenses and improve profit margins across the sector.
• Constellation Research founder R 'Ray' Wang discussed the direct relationship between Big Tech performance and oil and gas pricing, highlighting how the energy market collapse supports tech stock rebounds.
• The decline in energy costs removes a key headwind for capital-intensive tech operations and data centers, contributing to the broader market rally.
Health secretary and chef Robert Irvine claim Americans could eat healthier and more cheaply if they shopped betterSign up for the Breaking News US email to get newsletter alerts in your inboxThe first episode of the new Secretary Kennedy Podcast, produced by the US Department of Health and Human Services (HHS), opens with this quote from guest Robert Irvine, who creates meal plans for the US military: “We talk about food being expensive. If you’re buying expensive food, it’s expensive. But if you’re buying food and you know what to do with it, it’s not expensive.”The episode is titled Fixing America’s Food System – Robert Irvine, and features a 45-minute conversation with the HHS secretary, Robert F Kennedy Jr, the host of the show, and guest Irvine. Best known as a celebrity chef, Irvine has collaborated with the US military to launch Victory Fresh, a program that offers healthy grab-and-go meals on military bases, during the Biden administration. The program’s Biden-era origins are never acknowledged during the show. Continue reading...
Scheme cutting bills by up to 25% expanded to cover 10,000 firms, but they will not be paid until next yearRachel Reeves has announced an expansion of support for the most energy-intensive UK businesses, as they face soaring bills as a result of the Middle East conflict.The chancellor said the long-promised British Industrial Competitiveness Scheme (BICS) would be expanded to cover 10,000 companies, up from the 7,000 originally announced. Continue reading...
Governments spending $2.13bn annually on low quality food in public settings, report saysGet our breaking news email, free app or daily news podcastReptile remains, believed to be from a crocodile, have been found dumped on the side of the road in Adelaide.A spokesperson for the state’s environment and water department confirmed in a statement that department staff had “collected the remains of a reptile at Waterloo Corner.” They said:The remains, which were dumped on the side of the road at Coleman Road, will be analysed in an effort to confirm the species and any other information.“It is not currently known how the remains came to be located at the site.A different approach can increase the use of fresh, local produce, redirect spending to Australian farmers and producers, support the people working in public food service kitchens, and generate real benefits for Australia.Better public food procurement is not about spending more, it’s about spending smarter. The evidence is clear, public support is strong, and the solutions exist. Given the threat to our food system caused by the global fuel and fertiliser crisis, now is the moment for leadership. Continue reading...
• Truckload markets are tightening faster than anticipated, with freight costs now projected to increase 16–17% year over year in 2026, according to C.H. Robinson's April freight market update.
• Capacity constraints and carrier attrition are driving the acceleration in transportation costs across North America.
• The tighter capacity environment signals sustained pressure on logistics expenses for shippers as supply chain challenges persist into the second quarter.
PM appears to draw comparison between Russian and US leaders and calls for plan to restore shipping through strait of HormuzKeir Starmer has said he is “fed up” with the effect that Donald Trump’s actions in the Middle East are having on the British public, while appearing to draw a comparison between the US president to Vladimir Putin.Speaking to ITV’s Robert Peston on Thursday, the prime minister said: “I’m fed up with the fact that families across the country see their bills go up and down on energy, businesses’ bills go up and down on energy because of the actions of Putin or Trump across the world.” Continue reading...
Delta, United and JetBlue hiked rates even as Delta announced $1bn pre-tax profit in quarter ending JuneMiddle East crisis – live updatesSign up for the Breaking News US newsletter email Several major US airlines have raised their baggage fees in recent days, blaming ongoing volatility in oil markets caused by the US-Israeli war in Iran that has almost doubled jet fuel prices.On Tuesday, Delta followed the lead of United Airlines and JetBlue, which announced last week that they were hiking baggage prices because of the ongoing war. Continue reading...
• Rates of US adults skipping needed care due to unaffordable costs rose to 12.4% in 2024, up from declines seen 2019-2021.
• Forgone care varies by state, insurance type, and chronic disease status, exacerbating health disparities nationwide.
• Gallup polls identify healthcare costs as the top health issue, surpassing access and obesity concerns for Americans.
• A Gallup poll reveals 61% of Americans are 'extremely' or 'very' concerned about rising healthcare costs and insurance premiums, now topping all other domestic issues.
• Concern spans parties: 89% of Democrats, 80% of independents, and 72% of Republicans express high worry over healthcare affordability.
• The finding surpasses fears about the economy or inflation, highlighting healthcare as a unifying voter priority ahead of elections.
The average traditional funeral now costs £4,623 – up 1.3% since January – says report from Pure Cremation The war in Iran is pushing up the cost of living in the UK but it is also driving up the “cost of dying” as higher gas prices feed through to funerals.A new report says the average cost of a funeral in Britain is running ahead of inflation, with the war seemingly partly to blame as it has pushed up the price of gas used in crematoria. Continue reading...
Biggest rises were in vegetable oil and sugar prices, which increased by 5% and 7% respectivelyVisual guide to the Gulf fertiliser blockadeFood prices rose sharply in March as war in the Middle East drove up energy prices and freight costs around the world, a UN report says.An index of food commodity prices by the UN’s food and agriculture organisation increased by 2.4% in March, its second consecutive monthly rise. Continue reading...
Bank of England survey in March shows chief financial officers foresee 3.7% increase over coming yearBusiness live – latest updatesCompanies in the UK expect to raise their prices more rapidly over the coming months as the war in the Middle East drives up costs, Bank of England research shows.The Bank’s regular survey of more than 2,000 chief financial officers conducted last month, after the Iran conflict began, shows they now expect to raise their prices by 3.7% over the coming year. Continue reading...
• US healthcare costs for employers are forecasted to increase more than 9% in 2026, driven by regulatory changes, labor shortages, and rising demand.
• Growing use of specialty drugs, particularly GLP-1 medications for weight loss and diabetes, significantly contributes to the cost surge.
• Businesses face pressure to redesign benefits packages amid these economic pressures on public health spending.
Exclusive: Pubs, restaurants and hotels warn of mounting pressure days before rates rises and higher wage bills take effectOne in five hospitality businesses fear collapse in the next 12 months, according to an industry-wide survey that comes days before rises in tax and employment costs kick in.From Wednesday, many pub, restaurant and hotel companies face the prospect of a higher bill for business rates paid to their local authority, while an increase in minimum wage thresholds takes effect on the same day. Continue reading...
Following the US-Israeli strikes on Iran, gas prices, grocery bills and mortgage rates have all climbed The US-Israel war against Iran has sent shockwaves through global markets, leaving many Americans grappling with a growing financial squeeze on everyday living costs.Following the US-Israeli strikes on Iran – prompting retaliatory attacks on US allies in the region and Iran’s decision to close the Strait of Hormuz, a critical maritime passage – costs have surged across the US. Gas prices, in particular, have spiked sharply, with the national average rising by roughly 30% over the past month. Grocery bills, mortgage rates and fertilizer costs have also climbed. Continue reading...
• A new analysis identifies Louisiana and Kentucky as among the most stressed US states in 2026, with stress levels significantly influenced by geographic factors.
• Rising healthcare costs are forcing residents to skip medical care, contributing to elevated stress levels across affected regions.
• The stress disparities highlight how healthcare affordability challenges vary by state, with geographic and economic factors playing key roles in residents' wellbeing and access to care.
Yields on 10-year debt reach highest since the 2008 financial crisis, raising concerns of faster interest rate risesUK government borrowing costs have risen above 5% amid an intensifying global bond market sell-off fuelled by the Iran war.The yield – or interest rate – on 10-year debt hit its highest level since the 2008 financial crisis, rising 13 basis points to 5.081%, as investors acted on concerns about the economic fallout from the conflict. Continue reading...
