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The Latest Breaking News from Economy

Could this energy crisis be worse for the global economy than COVID?

Despite reports of negotiations between the US and the Iranian regime, the Strait of Hormuz remains effectively closed to most oil tankers, with only a small number of vessels being allowed to pass. The result is a loss of roughly 11 million barrels per day (mbd) of oil and petroleum…

The Conversation

Spain's parliament approves €5 billion package to curb impact of war in Iran

The European Union's fourth-largest economy has in recent years registered growth rates far higher than its peers, notably thanks to domestic consumption, tourism and exports.

Euronews

Trump's war in Iran is costing the U.S. economy 10,000 jobs a month, Goldman Sachs says

The bank sees the Iran-driven oil shock stripping 10,000 jobs a month from U.S. payrolls through year-end. Leisure, hospitality, and retail are hit worst.

Fortune

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Pension Schemes Bill clears third reading in House of Lords - what this means

The Pension Schemes Bill has cleared its third reading in the House of Lords, moving closer to becoming law. The legislation aims to enhance defined contribution pension schemes by offering more information, consolidating savings, and securing improved returns for members. A contentious aspect of the Bill is a reserve power…

The Independent UK

Iran war will jolt U.S. inflation, new analysis finds

The OECD projects U.S. headline inflation will be 4.2% this year.

Axios

Senator Bernie Sanders announces bill to pause US data center construction: 'AI and robotics will impact our economy, our democracy, our privacy rights... even our very survival as human beings on this planet'

'I fear that Congress is totally unprepared for the magnitude of the changes that are already taking place.'

PC Gamer

UK gets biggest cut to growth outlook this year among world’s major economies

The OECD published the biggest downgrade to the UK’s growth outlook for 2026 than any other country in the G20 group of economies.

Evening Standard

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Primark, Magnum, Castrol... who’s next? Why Britain’s top brands are being sold or split by their owners

A weak pound and a sluggish economy mean some of our top brands are up for grabs

The Independent UK

Rishi Sunak tells CEOs to move fast on AI—or risk landing on the wrong side of the K-shaped economy

Also: All the news and watercooler chat from Fortune.

Fortune

Australian growth forecasts slashed as global economy faces inflation spike

OECD says the Middle East war will test the world’s resilience with Australia expected to suffer from higher rates and inflation

The Guardian - AU

Middle East conflict will damage UK’s economy ‘more than any other’

Organisation for Economic Cooperation and Development says UK economy will grow by just 0.7% this year

The Guardian - UK

Auction clearance rate slumps to 57% nationwide as interest rate hikes prompt Australians to sell

Homebuyers lose confidence amid higher rates and Iran war-linked price rises across the economy, buyers agent says

The Guardian - AU

British consumer confidence plunges to record low as Middle East conflict fuels inflation fears

British consumers are anticipating rising costs over the coming months due to the Iran war

The Independent UK

Consumer confidence ‘collapses’ as Middle East war escalates

Consumer expectations of the economy over the next three months has fallen to its lowest level on record, the BRC and Opinium found.

The Independent UK

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AAP

Global group backs cuts, rate rises to curb inflation

Australia's inflation rate will peak higher than previously forecast, as surging oil costs cause consumer prices to increase, a Paris-based policy body says.

Reason

Politicians Want To Fix the Economy. So Why Do They Keep Making It Worse?

"Central planning doesn't work because everybody has different ideas for themselves," says Ryan McMaken of the Mises Institute.

Newsroom.co.nz

Truckies worry as diesel slows to a trickle: ‘Shortage would bring economy to its knees’

Newsroom forecasts just 17 days' diesel by Sunday. Plus, Z Energy chief executive Lindis Jones gives his first interview since the start of the oil shock, agreeing business needs to work with ministers in something akin to a wartime governance of national unity. Jonathan Milne reports.

The Conversation

This is how the 1970s oil shock played out. There are lessons for the economy today

On October 6 1973, the Yom Kippur War – mainly involving Egypt, Syria and Israel –triggered one of the biggest energy crises of the 20th century. Eleven days later, several Arab members of the Organization of the Petroleum Exporting Countries (OPEC) announced they would stop selling oil to countries supporting…

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AAP

RBA ready to shift up a gear as the neutral rate rises

The Iran war will hurt consumers by pushing up prices and slowing the economy but the Reserve Bank must act to contain inflation expectations, an official says.

International Business Times UK

United Airlines Launches 'Relax Row'—Economy Seats That Turn Into Couches For Long Flights

Discover United Airlines' new 'Relax Row' concept, transforming economy seats into couch-like spaces for added comfort on long-haul flights

The Guardian - AU

Australians can expect high fuel costs to linger for far longer than the war in Iran

Rising inflation and unemployment mean effects of Iran war could be even worse than the post-Covid cost-of-living crisis

Euronews

European sovereignty requires control over its industry, Belgian economy minister tells Euronews

Belgium's Economy Minister David Clarinval is advocating full economic sovereignty in Europe. Therefore, Europe needs to regain control of its industrial capabilities, energy, defence and agriculture.

The Conversation

Pittsburgh’s post-steel economy is a success – and a warning for other cities

Few regions pose as much of an economic conundrum as Pittsburgh.

Euronews

This airline is rolling out economy class rows that convert into beds for long-haul flights

Coming to United Airlines in 2027, the ‘Relax Row’ has leg rests that can be raised to create a larger lie-flat space.

Grocery Coupon Guide

Publix Comes in Second Nationally in Customer Satisfaction Rankings

The supermarket industry is fiercely competitive. Retailers battle constantly to win the loyalty of their local shoppers. The American Customer Satisfaction Index releases an annual report detailing exactly how consumers view the major grocery chains. The 2026 report, which analyzes survey data collected throughout 2025, reveals a shift at the…

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