Bank of England Leaves Interest Rates on Hold and Lowers Inflation Forecast Amid Middle East ‘Uncertainty’ – as It Happened
The Bank of England left its Bank Rate unchanged at 3.75% after a 7‑2 vote, citing lingering uncertainty from the Middle‑East conflict. It trimmed its inflation outlook, expecting CPI to rise just over 3.25% in Q4, down from the April forecast. The decision arrived as UK unemployment slipped to 4.9% and job vacancies fell to a five‑year low. Analysts note the hold is cautious but markets still price in a possible year‑end rate hike.
EV Prices in UK and EU Not Likely to Dive Due to Chinese Rivalry, Says Xpeng Boss
Xpeng’s vice‑chair Brian Gu said European EV prices will remain stable despite a surge of Chinese rivals, arguing that customers in the UK and EU prioritize quality over low cost. The company’s G6 model launches at £39,990 (about $51,000) and...
Australia Is Facing a Shortage of Critical Lubricants. How Do We Stop Everything Grinding to a Halt?
Australia faces a looming shortage of critical lubricants as base‑oil prices have more than doubled since February, driven by Middle East refinery damage and disrupted crude supplies. The country relies heavily on imports from South Korea, Singapore and Qatar, leaving...
‘Open Season’ on ABC as FCC Moves up Public Comment Process for Renewals
The FCC ordered Disney’s ABC to file an early renewal for its eight broadcast licenses, citing a preliminary investigation into the network’s diversity, equity and inclusion practices. The agency opened a public comment window that runs until June 29, inviting anyone...
Australian Billionaire Brett Blundy Wages High-Stakes Campaign to Oust Chair of Victoria’s Secret
Australian billionaire Brett Blundy, through BBRC International, is mounting a high‑stakes campaign to remove Victoria’s Secret chair Donna James at the company’s annual meeting. BBRC, the second‑largest shareholder with roughly 13% of the stock, has long sought a board seat...
Car Industry Pressing EU for Further Delay to Brexit EV Tariffs
The EU and UK car sectors have asked the European Commission to extend the suspension of Brexit‑related electric‑vehicle tariffs for another three years, citing inability to meet the 2027 rules of origin. The current regime demands that at least 55%...
On China, Trump Picked the Right Battle but the Wrong Strategy
The piece contends that Donald Trump correctly singled out China as the United States’ chief trade rival, but his indiscriminate tariff barrage lacked strategic depth. Consequently, a prolonged trade conflict is unfolding, prompting the EU, Canada and other nations to...
Disney Racks up $4.2bn Deficit on Paris Parks
Disney’s European flagship, Disneyland Paris, posted a record $4 bn revenue for the year to September 2025, up 8.4% and driving 40% of Disney’s total theme‑park revenue. Despite the surge, the resort still carries a $4.2 bn deficit from the $6.8 bn Disney has...
Democrats Oppose Trump Officials’ Effort to Include Crypto in 401(k) Plans
Congressional Democrats are rallying against a U.S. Department of Labor proposal that would let 401(k) plans invest in cryptocurrency, private‑credit and private‑equity assets. They warn the rule could expose roughly $14.2 trillion of retirement savings to volatile, high‑fee investments, citing the...
60 Minutes Correspondent Scott Pelley Accuses Bari Weiss of ‘Murdering’ Show
Veteran 60 Minutes correspondent Scott Pelley publicly rebuked CBS editor‑in‑chief Bari Weiss after the network dismissed executive producer Tanya Simon, executive editor Sharyn Alfonsi and correspondent Cecilia Vega in a sweeping overhaul. In a staff meeting, Pelley accused Weiss of "murdering" the flagship program, prompting a...
Australia’s Truckies Were Already Struggling to Survive. Then the Fuel Crisis Hit
Australia’s long‑haul owner‑drivers were already operating on razor‑thin margins when the Iran war triggered a global fuel crisis, pushing diesel from about A$1.80 (≈US$1.20) to a peak of A$3.20 per litre (≈US$2.10) in April. The surge forced many, like veteran...
CBS News Shakes up 60 Minutes as Ousted Correspondents ‘Fear What Comes Next’
CBS News announced a major overhaul of *60 Minutes*, naming former New York Times tech journalist Nick Bilton as executive producer for the 59th season. The shake‑up includes the ouster of top producer Tanya Simon, the termination of correspondents Cecilia Vega and Sharyn Alfonsi,...
EU to Discuss Potential Restrictions on Chinese Imports Amid Fears of Overreliance
EU commissioners are set to meet on Friday to explore new restrictions on Chinese imports, a move prompted by what officials dub “China Shock 2.0.” The surge in Chinese goods, from electric vehicles to medical components, is making some EU products...
US Inflation Rose at Fastest Pace in Three Years in April as Iran War Hikes up Prices
U.S. inflation accelerated to its fastest pace in three years in April, driven by a sharp rise in energy costs linked to the Iran‑Israel conflict. The personal consumption expenditures (PCE) price index jumped 3.8% year‑on‑year, while core PCE rose 3.3%,...
Oil Price Rises Back Above $100 a Barrel as Energy Market May Be Past ‘Point of No Return’
Oil prices jumped back above $100 a barrel on Tuesday after fresh U.S. strikes on Iran intensified geopolitical risk. The attacks, combined with the ongoing blockade of the Strait of Hormuz, have cut roughly 14.4 million barrels per day from Gulf...