Global Economy

Soaring energy costs from the Middle East conflict are driving up global inflation. Economists expect major central banks to delay anticipated rate cuts.

When it comes to what the US will do next, Jeffries said the best hope for the Trump administration would be a "sudden implosion" of the current Iranian administration.

Goldman Sachs noted that the impact of AI on the labour market continues to be narrow.

An index of hiring plans among small businesses held steady in March at one of the lowest levels in recent years.

The president's decision to seek a dramatic rise in the Pentagon's budget — the largest single-year increase since World War II — comes as polls indicate he's struggling to convince many Americans of the wisdom of the war in Iran.

As part of the package, Microsoft, whose Copilot has struggled to keep pace with OpenAI's ChatGPT and Google's Gemini, will invest in cybersecurity partnerships and train a million AI engineers through 2029

Over 40 US allies met virtually to discuss reopening the Strait of Hormuz, addressing global concerns over disruptions caused by tensions with Iran.

The government is preparing a large credit support plan to cushion sectors facing emerging stress, signalling a pre-emptive move to manage potential economic impact due to Iran war.

Duties for products made by certain larger companies will take effect in 120 days, while items from smaller manufacturers won't be hit for another 180 days, according to a White House statement.

Oil markets remain under pressure due to reduced flows from the Gulf, particularly through the Strait of Hormuz, a key transit route for global energy supplies.

"We don't need oil from the Hormuz strait. Those who import from there must take care of the passage," Trump said in an address from the White House.

In a televised address from the White House, Trump said US operations are close to achieving their objectives, even as he set a two- to three-week window for either a deal or further attacks.

Donald Trump Speech Live: He said Iran's navy is gone, its air force is in ruins, most of its leaders are dead, and its ability to launch missiles has been curtailed.

As the conflict evolves, an expert points to a shift in risks between key players, suggesting different paths ahead for countries involved in the crisis.

Global energy price surges and weakened growth forecasts have boosted the dollar as a safe haven, with traders holding over seven billion dollars in bullish derivative bets.

Oil prices fell below $102 after reports that President Trump may end the Iran conflict even if the Strait of Hormuz remains closed, following recent tanker attacks.

Stocks rose and oil prices fell after reports that President Trump is open to ending the US military campaign against Iran despite the Strait of Hormuz remaining closed.

Powell noted that tariffs typically have a one-time impact on inflation and said there is no evidence that the Federal Reserve's past bond-buying programmes significantly contributed to inflation.

Located at the southern tip of the Red Sea, this narrow passage connects the Red Sea to the Gulf of Aden and the Indian Ocean, making it a vital artery for global trade.

The reasons behind the improvement could be because Iranian jamming capabilities may have been reduced by US strikes or that the United Arab Emirates has stepped down its interference in light of fewer attacks by Tehran.