Middle East crisis live: Iran steps up campaign to disrupt energy markets as oil price hits $100 a barrel

Australia news live: ASX suffers more heavy losses as Middle East crisis spooks investors

Follow updatesNSW prepares for fuel shortages at hospitals as Australia relaxes petrol standards for 60 daysGet our breaking news email, free app or daily news podcastDennis Richardson says his decision to resign from the royal commission into antisemitism had nothing to do with the government, but says he came to the decision that he was “surplus” to the needs of the body.He spoke to RN Breakfast this morning, saying:I think probably there wasn’t enough discussion right at the beginning about the precise way things would work, and ultimately I came to the [decision] that I was surplus to requirements. Continue reading...

Will Trump TACO on Iran?

It’s a crucial election year and economic and political costs of the war are rising. It won’t be easy for the president to declare victory and walk away.

First 6 Days of Iran War Cost U.S. $11.3 Billion, Pentagon Says

Defense Department officials told Congress that the estimate excludes many costs tied to the military buildup. Airstrikes were shaking Beirut and Tehran, and the price of oil surged past $100 a barrel.

Here is the latest.

Israel Bombards Lebanese Capital in Latest Round of Strikes

Lebanon’s health ministry said at least seven people were killed in the Beirut attacks early Thursday.

A young girl is knocked over at Tokyo crossing – what’s behind Japan’s ‘bumping’ trend?

Viral video of girl being shoved by fellow pedestrian has reignited debate over butsukari – with experts blaming stress and gender dynamicsIt starts out as a heartwarming clip. A young girl, clearly delighted to be in Tokyo, beams as she makes a peace sign to the camera. Seconds later, she is shoved to the ground from behind by a woman wearing a surgical mask. The assailant doesn’t skip a beat, striding out of shot of the clip filmed by the girl’s mother.This was no accidental clash of shoulders in a crowded place, but one of the most visible examples of a spate of butsukari otoko – “bumping man” – shoving incidents in Japan that experts attribute to a combination of gender dynamics and the stresses of modern life. Continue reading...

European drivers face €220 a year jump in fuel costs due to Iran conflict, say experts

Exclusive: Oil at $100 a barrel means higher prices in the EU and UK, making savings for those with electric vehicles even greater, analysts sayEuropean drivers face paying an extra €220 (£190) a year at the pumps because of the surge in oil prices caused by the war in Iran, analysts have warned. In the UK, a separate estimate puts the cost at an extra £140.A sustained oil price of $100 a barrel, the level seen on Monday, would mean motorists in the EU paying €55bn more over a year, researchers at the Transport & Environment (T&E) thinktank estimated. That is the equivalent of an average of €220 for each driver, with higher-mileage drivers facing even bigger hikes. The assessment was made by comparing data from 2022, when Russia’s invasion of Ukraine pushed the oil price to the $100 mark, with data from 2017-2019. Continue reading...

MPs launch student loans inquiry amid ‘perfect storm’ for young people in UK

Influential Treasury committee chair Meg Hillier says review follows growing concern over graduate debtUK firms struggling to hire young people amid cost pressures, MPs toldYoung adults in the UK face a “perfect storm” of economic challenges, the head of the influential Treasury select committee has warned as it launches an inquiry into student loans.The cross-party committee’s investigation comes as the government considers ways to ease the burden on graduates, amid a growing backlash about high interest rates and hefty repayments, including among Labour MPs. Continue reading...

This is what happened on March 11.