Economy

The findings land before supreme court hearing on Trump bid to end protections for Syrians and HaitiansTemporary protected status (TPS) holders, who have historically been protected from deportation due to safety concerns in their home countries, contribute around $29bn every year to the US economy, according to a new report published this week.The findings from this report, which comes from FWD.us, have emerged one week before the supreme court is set to hear arguments challenging the Trump administration’s attempts to strip TPS status from Syrians and Haitians. It also comes nearly one week since the House passed legislation to protect Haitian immigrants, whose protected status is at risk. 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...

• 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...

Kristalina Georgieva says even ‘most hopeful scenario’ will lead to growth downgrade and cause permanent hit to living standardsBusiness live – latest updatesThe head of the International Monetary Fund has warned that the Iran war will permanently scar the global economy even if a durable peace deal in the Middle East can be reached.In a speech delivered as the ceasefire in the conflict threatens to unravel, Kristalina Georgieva said the “scarring effects” caused by the war to date would mean slower global growth this year than first anticipated. Continue reading...

• The S&P 500 index has declined 6.96% year-to-date through early April 2026, with the S&P 500 Growth Index dropping a steeper 11.11% amid shifting investor focus. • Investment managers adopted defensive postures by buying U.S. Treasury bonds as economic slowdown signals emerged, though rising oil prices took center stage. • Gold, silver, and bitcoin prices fell while crude surges from Iran conflict and distribution chokepoints overshadowed traditional safe-haven demand.

• The US Labor Department reported that employers added 178,000 jobs in March 2026, significantly surpassing economists' expectations of 60,000 jobs polled by LSEG. • The unemployment rate declined to 4.3% from 4.4% in February, lower than the projected 4.4%, with January revised up to 160,000 jobs and February down to 133,000. • This rebound follows February's unexpected job losses and signals labor market resilience despite geopolitical tensions and economic uncertainty.

The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins The towns that are the bulwark of China’s energy security can, at a moment of global crisis, appear deceptively quiet. Trucks carrying oil trundle along wide-open highways that have little traffic, while a few boarded-up shops in crumbling low-rise buildings hint at a long-forgotten local buzz.A ramshackle noodle shop serving hand-pulled ribbons of dough was empty at lunchtime, save for a few construction workers and a teacher watching videos on Douyin, the social media platform, with his meal. Continue reading...

Organisation for Economic Cooperation and Development says UK economy will grow by just 0.7% this yearThe conflict in the Middle East will damage the UK’s economy more than any other industrialised nation, according to analysis by the Organisation for Economic Cooperation and Development (OECD), which warned over rising inflation.In the first major assessment by a leading international thinktank of the economic impact from the attack on Iran, the OECD said the UK economy would grow by just 0.7% this year, compared with its last forecast, made in December, of 1.2% for 2026. Continue reading...

OECD says the Middle East war will test the world’s resilience with Australia expected to suffer from higher rates and inflationGet our breaking news email, free app or daily news podcastThe world economy is on the brink of a major inflationary spike as soaring fuel prices threaten growth in European and Asian nations, the OECD has warned, and local economists are slashing Australia’s growth prospects for this year and the next amid the ongoing US-Israel attack on Iran.The Organisation for Economic Cooperation and Development’s latest interim outlook said the US-Israel war on Iran will “test the resilience of the global economy”, and warned of the “significant downside risk” to their forecasts should the oil supply disruptions prove more persistent and push energy prices even higher. Continue reading...

Minister tells security conference many people could have been killed in Invasion Day incident; Treasury working ‘full tilt’ on budget measures. Follow updates liveGet our breaking news email, free app or daily news podcastRadicalisation now more likely to come ‘across a browser’ than a border, home affairs minister saysTony Burke says it would be “reckless” and “ignorance in the extreme” for Australia to pretend that immigration is the solution to preventing violent extremism on our shores.It would be ignorance in the extreme for us to pretend that that is the fix. It would be reckless in the extreme for us to pretend that immigration is the solution. It is something that is one of our tools, but the only way we deliver national security is to deal with facts and risks as they present themselves, not as you might want them to be.Where we once only had to look at radicalisation potentially being something that might come across our border, it now comes across a browser. Where radicalisation used to involve – that you might have to go to a training camp in Afghanistan – it now comes to you in an algorithm.The Australia Day arrest in Perth, for a number of reasons, it didn’t receive the publicity that it really should have. But can I just say – we got so lucky. We got so lucky.This was not a stunt. The person who threw the pipe bomb into the middle of a crowd of First Nations protesters believed that – if you look at what it was – this was something where there was a reasonable expectation it would have gone off, and the number of people who then would have been killed. The fact that that didn’t happen is not through any planning. We just got lucky. Continue reading...

National leader Christopher Luxon drops in preferred PM stakes with rise in people saying country heading in wrong directionThe personal ratings of New Zealand’s prime minister, Christopher Luxon, have dipped, polling shows, as his government’s handling of the economy fails to impress voters ahead of the November election.The RNZ-Reid Research poll, released on Monday, also found a growing number of people felt that New Zealand was heading in the wrong direction. Continue reading...

Donald Trump’s ‘little excursion’ is likely to have long-term effects, from oil prices to inflation to growth, say expertsIn the days after the US and Israel first bombed Iran, financial markets bet the economic fallout from Donald Trump’s “little excursion” in the Middle East would be short-lived.“There are risks from higher oil prices longer term. But this is a tail risk,” one US-based fund manger said after the airstrike killing Iran’s supreme leader, Ayatollah Ali Khamenei. “History has shown time and time again that geopolitical flare-ups like this tend to be short-lived. This one should prove to be no exception.’’ Continue reading...