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Australia’s recent fuel squeeze is reshaping the second‑hand car market, with used electric vehicles (EVs) now commanding higher prices while traditional petrol and diesel models face steep discounts.MotorMetrics’ live inventory data shows that dealers have lifted prices on a range of EVs, most notably a more than 6% increase for the Tesla Model Y during the final two weeks of March. Similar upward pressure is evident for the Model 3, MG4 and Polestar 2, indicating dealer confidence that new stock will settle at these elevated levels.At the same time, the supply of used EVs is tightening, creating a classic demand‑supply imbalance that fuels price growth.Conversely, the same data reveal that many used diesel and petrol vehicles have been slashed by as much as 20%, reflecting a rapid shift in consumer preference toward electric power as fuel costs climb.Rental platform Turo reports a 70% jump in bookings for EVs and hybrids compared with the same period last year. Managing director Rob Chan describes the surge as a “unique wave of consumer interest” reminiscent only of the post‑pandemic “revenge travel” boom.Australia’s EV fleet is expanding steadily; the Electric Vehicle Council estimates that over 454,000 battery‑electric and plug‑in hybrid vehicles were on the road at the end of 2025, giving EVs roughly 13% of new car purchases. Analysts expect this share to rise further as more models enter the market and charging infrastructure improves.Economist Peter Esho warns that while oil shocks are not new, this one “could very well be one of the last”, as the current price environment makes EVs a financially sensible alternative for many drivers.Petrol prices rose almost daily throughout March across major cities, only easing after a government fuel‑excise cut. In parallel, Commonwealth Bank data shows a 161% increase in weekly loan volume for new battery‑electric vehicles in March versus February, underscoring growing consumer financing for EVs.Individual stories echo the broader trend. Sydney motorist Har Rai Singh, who rented several EVs through Turo to test long‑distance capability, says he now sees little reason to stick with a combustion engine, noting that “people are waiting for petrol pumps and paying over $100 to fill a tank – it doesn’t make sense any more to hold on to a combustion engine.”

Guy Singh-Watson, founder of organic veg box company Riverford, has expressed deep regret for the decades he spent confined by traditional masculinity. On International Women's Day, he found himself in a crowd of mostly women, listening to his wife discuss her experiences. This encounter made him realize that many issues discussed on IWD relate to male behavior, and men should be paying attention. Challenging Traditional Masculinity: Singh-Watson notes that success in farming and most businesses depends on building and maintaining relationships. He recalls that when Riverford first measured its gender pay gap in 2017, women earned an average of 91p an hour compared to their male colleagues' £1. Despite efforts to address the issue, progress was slow until a new, younger female farm manager, Maddie, took charge and transformed the workplace culture. Under Maddie's leadership, Riverford became one of the few veg farms with a waiting list for pickers. The company achieved this by creating a fun, emotionally safe, and fulfilling work environment. Singh-Watson acknowledges that he and other men in leadership roles often struggle with sensitive issues and tend to turn to women for resolution. A Shift Towards Inclusivity: The cultural shift at Riverford began with its transition to employee ownership in 2018. This process required introspection and evaluation of decision-making processes. With the help of a business change coach and the company's head of HR, a genuinely inclusive culture was built. As a result, Riverford now has a negative gender pay gap, with women earning 1.56% more per hour than men. Singh-Watson emphasizes that men can change and that embracing emotional literacy – kindness, openness, empathy, and compassion – makes them stronger. He encourages men to cast off limiting beliefs around what it means to be a man and to support each other and the women in their lives. Ultimately, inclusivity benefits everyone, and men must take responsibility for creating a more equitable and compassionate work environment.

From Monday, the United Kingdom’s statutory sick‑pay system will shift to pay employees from the first day of illness, a change that the Trades Union Congress (TUC) says will benefit up to 9.6 million workers. The reform is part of the first tranche of the Employment Rights Act 2025, which also introduces new safeguards on sexual harassment, parental leave and trade‑union recognition. Under the new rules, roughly 8.4 million employees who already receive statutory sick pay will see their entitlement start on day one rather than after a three‑day waiting period. In addition, about 1.2 million workers previously excluded because they earned less than the £125‑a‑week threshold will now qualify for the benefit. The expansion is expected to aid groups that are over‑represented in low‑paid or part‑time roles – notably women, disabled staff, and younger or older workers. The TUC argues that the measure will ease the financial pressure on lower‑income households, which often face a choice between extending their illness or forfeiting essential income. A TUC‑commissioned poll found that 76 % of respondents support sick pay from day one, indicating broad public approval across party lines. Business representatives, however, warn that the policy adds to a string of cost pressures already hitting firms. Neil Carberry, chief executive of the Recruitment and Employment Confederation, highlighted that employers are simultaneously coping with higher national‑minimum wages, increased payroll taxes and rising energy costs linked to the ongoing war with Iran. He cautioned that the new sick‑pay rules could force some companies to cut staff or raise prices, describing the situation as a "tipping point". Carberry also warned of potential abuse, saying a small minority of workers might attempt to exploit the system unless clear guidance is issued quickly. "The changes to statutory sick pay introduced this week will also cause chaos if not coupled swiftly with better guidance for firms," he said.

US President Donald Trump has issued a stern warning to Iran, threatening to unleash a severe attack on its civilian infrastructure, including power plants and bridges, if the Strait of Hormuz is not reopened by his stated deadline of Monday.In a profanity-laden social media post on Sunday, Trump repeated previous threats to target vital infrastructure across Iran, saying 'Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open the F****** Strait, you crazy b*******, or you'll be living in Hell – JUST WATCH!'The Strait of Hormuz, a critical shipping route for the global energy market, has been closed since the US and Israel first attacked Iran on February 28. Trump set a 10-day deadline for Iran to reopen the strait on March 26.Iranian officials have strongly condemned Trump's threats, with Iran's mission to the United Nations stating that 'the international community and all states have legal obligations to prevent such atrocious acts of war crimes. They must act now. Tomorrow is too late.'Iran's deputy for communications, Seyyed Mehdi Tabatabaei, dismissed Trump's threats as 'a sign of desperation and anger' and stated that the strait would only be reopened following the payment of reparations for damages caused by the war.The conflict has already seen US-Israeli strikes target civilian infrastructure, including bridges, schools, healthcare facilities, and universities. Experts have warned that some of these strikes could constitute war crimes.Trump has also confirmed that a US airman from an F-15E fighter jet shot down over Iran on Friday has been rescued from deep inside the mountains of Iran, describing the operation as 'an AMAZING show of bravery and talent by all!'

Iran is experiencing the longest nationwide internet blackout ever recorded, according to the global monitoring group NetBlocks. Since the United States and Israel launched their war on Iran on February 28, connectivity has hovered at about 1% of pre‑war levels, effectively cutting the country off from the global web. The blackout follows a prior 20‑day shutdown in January, which coincided with deadly nationwide protests. Combined, these measures mean that Iranian civilians have spent close to two‑thirds of 2026 in digital darkness, relying only on a slow, state‑controlled intranet for basic services and state‑run news. NetBlocks highlighted that while regions such as Myanmar, Sudan, Kashmir and Tigray have endured longer intermittent outages, no other war has forced an entire nation offline to this extent. The monitor added that Iran is the first country to lose previously functional internet connectivity by reverting to a national network. Economic analysts warned that the January shutdown already caused the economy to lose tens of millions of dollars each day in direct damages, with far‑reaching indirect effects. Companies reported that many online businesses could not survive more than three weeks without connectivity, leading to a wave of layoffs and reduced pay raises. One affected worker, Kamran, a product designer in Karaj, said he was dismissed after the latest wave of cuts. He now relies on a local skill‑matching group, but fears competition from thousands of similarly displaced workers. A senior data analyst from a Tehran firm disclosed that the firm is offering lower-than‑expected raises and shifting to three‑month contracts, creating uncertainty about future employment. Compounding the digital crisis, the war has targeted Iran’s steel factories, petrochemical plants and other civilian infrastructure, aggravating pre‑existing problems of high inflation and unemployment. Only a limited segment of the population can access the global internet—either because they are whitelisted by the state or because they pay steep fees for proxy connections that often disappear after a few hours. Government spokeswoman Fatemeh Mohajerani stated that internet access is being granted only to those who can “get the voice out,” such as officials, state‑affiliated entities and news agencies. Citizens on the ground describe a grim reality: frequent power outages, uncertainty about water supplies, and an inability to use services like Google Search or AI tools, even as they watch live feeds from space missions that remain inaccessible. In response to the prolonged shutdown, authorities have begun rolling out a tiered system dubbed “Internet Pro.” Business groups have received a “guide to connect to international internet,” urging them to contact a state‑run messaging app, Bale, for registration. Parallel efforts by a major telecom carrier offer one‑year data packages at prices higher than normal plans, while existing providers have not refunded customers for services they cannot deliver. President Masoud Pezeshkian’s administration, which campaigned on unblocking Iran’s internet, has offered no official explanation for the shutdown, leaving both the battered digital sector and the broader economy facing an uncertain future.

President Donald Trump confirmed early Sunday that a U.S. airman missing after his F-15E fighter jet was downed in Iran had been recovered, describing the operation as one of the most daring in American history. The rescue, which reportedly involved a heavy exchange of fire, concluded after the pilot, a colonel‑rank weapons systems officer, was extracted from the mountainous terrain of southwestern Iran. For roughly two days, both Washington and Tehran scrambled to locate the missing serviceman. Iranian officials even appealed to local residents, offering a $60,000 reward and urging the public to hand over the airman, a move that analysts said could have yielded a propaganda victory for Tehran. According to statements from the White House, the mission required the deployment of dozens of aircraft armed with lethal payloads. While the rescue was ultimately successful, the pilot sustained injuries; however, officials assured that his condition would improve. Experts highlighted the broader strategic implications. Amin Saikal, a professor at the Australian National University, noted that the operation demonstrated the U.S. military’s commitment to never abandon personnel behind enemy lines, while also freeing President Trump to pursue his stated 48‑hour deadline for Iran to negotiate access to the Strait of Hormuz. The conflict, now in its 37th day, has already caused 2,076 deaths and injured 26,500 people across Iran since the initial strikes on February 28, which targeted senior Iranian leadership. The war has expanded into a regional confrontation, with Iranian forces striking Gulf states that host U.S. military and commercial assets. Details of the downing indicate that Iran’s “new advanced air‑defence system” succeeded in shooting down the F‑15E, marking the first loss of a U.S. aircraft in the war and the first such incident since the 2003 Iraq invasion. An accompanying A‑10 Warthog was also hit, though its pilot ejected and was rescued. Initial rescue attempts saw a Black Hawk helicopter damaged but remaining airborne. Iran’s Islamic Revolutionary Guard Corps (IRGC) cordoned off parts of the Kohgiluyeh and Boyer‑Ahmad province, where the crash occurred, and reported that local nomadic groups, armed with rifles for livestock protection, joined the search. State media released footage of Iranian forces firing at U.S. helicopters, and the IRGC claimed to have destroyed two C‑130 transports and two Black Hawks during the operation. Trump’s announcement emphasized continuous monitoring of the pilot’s location by senior defense officials and a rapid response once the rescue window opened. He also referenced the ongoing disinformation campaign aimed at misleading Iranian search efforts. While Tehran has not officially confirmed the firefight, reports from Al Jazeera suggest that nine individuals were killed in related strikes, though the connection to the rescue remains unclear. Iranian authorities also claimed that another U.S. C‑130 aircraft was downed, a claim the United States has not addressed. Overall, the successful extraction underscores the heightened stakes of the U.S.–Iran confrontation and may influence forthcoming diplomatic overtures concerning the Strait of Hormuz and broader regional stability.

The former boss of the Co-op collected almost £2m before her sudden departure last month despite a difficult year when the retailer was pushed into the red by a damaging cyber hack.Shirine Khoury-Haq’s total annual pay package amounted to £1.9m in 2025, including a £165,000 “rewarding growth” bonus that was approved by the mutual’s board despite falling sales and the slide to an underlying loss of £125m.Khoury-Haq and other executives did not receive their regular annual bonus as the board said the company had not met an “affordability underpin” to make the payout. However, Khoury-Haq’s total pay did include a long-term performance bonus linked to earlier years.In the Co-op Group’s annual report, the remuneration committee said it had decided to pay out 10% of the three-year potential total for the new “rewarding growth” incentive plan, which goes to all staff. Full-time, frontline workers, such as shop floor staff, who were employed for all of 2025 received £100 each under the scheme.The report did not say if Khoury-Haq would receive any compensation for loss of office on her departure but did make clear she would not receive any more from the “rewarding growth” scheme. Kate Allum, a board member and former boss of the dairy group First Milk, will step in as the interim chief executive while a permanent replacement is sought.Khoury-Haq’s departure after four years heading the company, and almost seven at the business, came a month after reports of concerns about the culture at the top of the group. Last week, Khoury-Haq denied that her resignation was linked to the allegations of a toxic culture. “My decision to leave was very much a personal decision,” she said. “The reason is I want to go and do something else.”

Japan's economic strategy has inadvertently created a Japanese century in global finance, driven by the yen's role as a cheap and reliable funding currency. The Bank of Japan's loose monetary policy has suppressed yields on public debt, effectively creating a publicly subsidized funding pipeline for bankers.By borrowing cheaply in yen and investing in higher-return assets, such as US equities, global investors have profited tens of billions of dollars from the 'yen carry trade'. This trade surged after the pandemic, with speculators betting $435bn in the two years to 2024 out of the estimated $1.7tn worth of yen supplied.Despite Japan's first rate hike since 2007 in March 2024, the carry trade remains popular. However, a persistent fear exists that the BoJ may aggressively raise rates, risking a global financial shock. A stronger yen would increase the cost of repaying yen-denominated debts, and heavily leveraged hedge funds could face significant losses.Japan's economic success has created an external dependency on the carry trade to manage internal crises. The country's reflationist prime minister, Sanae Takaichi, is committed to fiscal expansion, which may continue to stabilize the private sector but not necessarily drive growth.Economic analysis suggests that Japan's growth constraints are rooted in its macroeconomic prices, including profit, exchange rate, interest, wages, and inflation. While Japan has seen recent real wage growth, wages have historically been flat or falling, and the country's firms lack a reliably competitive exchange rate and viable profit rate to drive demand and reform.

Prime Minister Keir Starmer seized the launch of a new package of workers’ rights, due to take effect on Monday, to launch a direct attack on the Green Party and Reform UK. He warned that supporting any rival would place recent gains in sick pay, parental leave and the curbing of zero‑hours contracts in jeopardy. Speaking ahead of the May 7 local elections, Starmer framed Labour’s agenda as the only one offering a "serious, credible economic strategy" capable of delivering the reforms. He dismissed business critics as "vested interests" who had warned against the measures. The reforms include several headline‑making changes: the two‑child benefit cap is lifted – a demand long championed by child‑poverty advocates – and the government touts this as one of its proudest achievements. A 4.8% rise in the state pension will raise weekly payments to £241.30, while the standard allowance for Universal Credit climbs by 2.3%. Under the Employment Rights Act 2025, statutory sick pay becomes a right from the first day of illness, and workers will be entitled to paternity and unpaid parental leave immediately upon starting a job. These "day‑one rights" are presented as the most significant strengthening of workers’ protections in a generation. Labour is positioning these policies as a bulwark against potential losses in English council and mayoral contests, where it faces challenges from Reform on the right and the Greens on the left. Recent YouGov data placed the Greens and Reform each at 21%** of voting intention, with Labour trailing at **17%**. Starmer’s rhetoric signals a leftward shift within Labour, amid pressure from potential leadership rivals such as Angela Rayner and Andy Burnham. He acknowledged past opposition from business leaders who warned of costs and disruption, but asserted that Labour chose to stand with "working people". Not all left‑wing allies are satisfied. Unite’s General Secretary Sharon Graham criticised the Employment Rights Act as "a shell of its former self," while the union recently slashed its membership fees to Labour over disputes like the Birmingham bin strike. The Conservative Party, represented by Kemi Badenoch, condemned the removal of the two‑child benefit cap, claiming it would cost billions and "reward worklessness". Government analysis estimates the change will channel at least £1 billion annually to 186,000 work‑less households, with a typical family of two unemployed adults and three children seeing a **£6,400** income boost. The bulk of the benefit is projected to flow to a handful of cities – Leeds, Manchester, Birmingham, Bradford and Glasgow – each set to receive over **£200 million** per year. Starmer likened the current reforms to the Blair government’s introduction of the minimum wage 27 years ago, positioning them as a historic step forward for the UK labour market.