Economy

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...

• President Donald Trump signed a series of emergency executive orders from the Oval Office, described by the White House as the 'World's Most Powerful Reset,' impacting the US economy and financial system. • The orders invoke national security protocols to grant the administration new powers over the Federal Reserve and address economic stability amid foreign threats. • The actions triggered fierce bipartisan debate over constitutional authority, volatile market reactions, and shockwaves globally.

HSBC, Barclays, Lloyds, NatWest and Santander will this week discuss with chancellor how to limit effects of conflict The bosses of Britain’s “big five” retail banks have been summoned to a meeting with the chancellor, Rachel Reeves, this week to discuss how to limit the economic impact of the crisis in the Middle East triggered by the US and Israel’s attacks on Iran.The chief executives of HSBC, Barclays, Lloyds, NatWest and Santander have been asked to attend an emergency summit that comes amid increasing acceptance that a major economic hit from the Iran war is unavoidable. Continue reading...

ONS figure for February suggests economy was gaining momentum before conflict stoked inflation with soaring energy pricesThe UK economy unexpectedly expanded by 0.5% in February, before the war in the Middle East dashed hopes of an uptick in growth this year, official figures show.The unusually large increase reported by the Office for National Statistics, suggests the economy had gained momentum before the conflict began. Economists had forecast just a 0.1% expansion. Continue reading...

Passengers can book a four-hour session in the bunk beds from May for Auckland-New York flights but airline cautions against smuggling in childrenEconomy passengers on Air New Zealand’s ultra-long-haul flight between Auckland and New York can book a spot in the airline’s bunk-bed style sleeping pods from May, which will take to skies in late 2026.In what the airline says is a world first, six full-length, lie-flat sleeping pods, are squeezed into the aisle of the new Boeing 787-9 Dreamliner. The pods, known as “Skynest”, will include fresh bedding, a privacy curtain, ambient lighting and kit with eye-masks, skincare, earplugs and socks. Continue reading...

Prices were up 3.3% over the year, adding to the unpredictability that first came with Trump tariffsSign up for the Breaking News US email to get newsletter alerts in your inboxUS inflation soared in March amid the US-Israel war with Iran, with prices up 0.9% compared to last month and 3.3% over the year, according to new data released Friday.The spike in the consumer price index (CPI), which measures the price of a basket of goods and services, is the largest in nearly two years and the first official measure of how the conflict has impacted US consumer prices, particularly as Iran blocked the strait of Hormuz, where a fifth of the world’s oil and gas would typically pass through. Continue reading...

Mayor says disinformation, including about London crime rates, is ‘eating away at basic bonds of trust’Sadiq Khan has called on ministers to take significantly stronger action against social media companies that spread disinformation after a study showed a surge in hostile accounts posting falsehoods about London’s crime rates and integration.In an intervention on what he called “the outrage economy”, the London mayor, who has also written to social media firms demanding change, said a lack of action could prompt more domestic terrorism by people who believe conspiracy theories they find online. Continue reading...