Business

Alternatives to Gulf supplies are scarce.

The national carrier has agreed to pay out a massive sum over cancelled flights during the COVID-19 pandemic.

Commodity prices are climbing again on Friday as traders watched new attacks on shipping and ports in the Middle East.

Upmarket NIMBY councils near the centre of some of Australia’s biggest cities are going slow on approving new homes during a rent crisis, which a data expert is also blaming on international students.

There are mounting job losses as artificial intelligence comes for once-secure industries — including its own creators.

Investor nerves over just how long the US-Israeli war with Iran will last and growing fears over global oil supply is driving the Australian share market back deep into the red.

The International Energy Agency will release 400 million barrels of oil, it’s largest ever release as Iran threatens to send oil prices to $200 a barrel.

The Albanese Government will allow dirtier fuel to be used in Australia to combat the record-high petrol price crisis.

Shares in Australia’s biggest KFC operator, Collins Foods, have jumped after announcing it will ramp up its push into Germany to capitalise on the country’s growing appetite for fried chicken.

The homegrown software company flagged that it can use AI to replace roles and improve productivity.

Iran has attacked merchant ships in the Gulf and launched strikes across the Middle East, signalling it can still retaliate despite intense US-Israeli bombardment.

Travellers should expect cut-price offers on Middle East-based airlines as soon as the Iran war is over, says an aviation industry expert. It comes as a major airline axes flights to and from the region.

At Thursday’s Australian close of US71.8¢, the dollar is the best performer this year from the G10 basket of currencies, which includes the US dollar, the British pound and the Japanese yen.

Treasurer Jim Chalmers and Energy Minister Chris Bowen have announced new maximum fines of $100 million for oil companies and petrol retailers that use the Middle East war as a cover to rip off motorists.

Australian bootmaker R.M. Williams is targeting more stores across the United Kingdom as it eyes over £15 million ($28.1m) in turnover.