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‘We don’t want to go’: Australian couple told to pay $3,500 to postpone flights amid Middle East volatility

ByLuca Ittimani and Catie McLeod

Experts say consumers are unlikely to have any legal rights to defer flights unless the airline’s fine print allows itGet our breaking news email, free app or daily news podcastSharon Latour and her husband are scheduled to fly through Abu Dhabi on an …

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Ministers refuse to name companies that lobbied them over foreign ownership of UK newspapers

ByMichael Savage Media editor

Revealed: Crossbench peers scrutinising proposed law change say they were told not to share companies involvedUK politics live – latest updatesMinisters are refusing to name the media companies that lobbied them over laws restricting foreign state owne…

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Oil prices pare back losses amid doubts over Israel-Iran ceasefire

ByCallum Jones in New York

Stock markets including FTSE 100 edge higher as traders hope conflict will not disrupt oil suppliesBusiness live – latest updatesOil prices have pared back losses after a sharp fall triggered by Donald Trump’s declaration of a ceasefire between Israel…

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Airlines pay the price as no-go airspace increases due to global conflicts

ByGwyn Topham Transport correspondent

US strikes on Iran are adding to the pressure on carriers, which are having to avoid war-torn regions, lengthening routes and pushing up costsWith barely 48 hours elapsed since the US launched strikes against Iran, the swift resumption of near-normal s…

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Reeves calls for Middle East de-escalation amid oil price fears

ByHeather Stewart Economics editor

Government announces plan to cut firms’ electricity bills as part of launch of its industrial strategyBusiness live – latest updatesRachel Reeves has called for de-escalation of the conflict in the Middle East, warning that rising global oil prices cou…

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Reeves calls for Middle East de-escalation amid oil price fears

ByHeather Stewart Economics editor

Government announces plan to cut firms’ electricity bills as part of launch of its industrial strategyUK industrial strategy: the key pointsBusiness live – latest updatesRachel Reeves has called for de-escalation of the conflict in the Middle East, war…

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US strikes on Iran could damage global growth, says IMF chief

ByLauren Almeida

Oil prices could rise if Iran goes ahead with threat to shut down shipping in the strait of HormuzBusiness live – latest updatesUS strikes on Iran could damage global economic growth, the head of the International Monetary Fund has warned.Director Kris…

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Education minister intervenes to address crisis unfolding at ANU – as it happened

ByNick Visser

This blog has now closedBragg says ‘better value’ for taxpayers if Coalition part of Chalmers’ productivity roundtableAndrew Bragg, the shadow minister for productivity and deregulation, told RN Breakfast this morning it was up to treasurer Jim Chalmer…

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Shell boss warns of ‘huge impact on trade’ if Israel-Iran conflict escalates

ByLauren Almeida

Blockage of strait of Hormuz, through which about 25% of world’s oil passes, could shock energy market, says Wael Sawan• Business live – latest updatesAn escalation in the Middle East conflict could have a “huge impact on global trade”, the boss of the…

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Will the new Middle East crisis rock the world economy? The markets say no – but I fear they’re wrong | Larry Elliott

ByLarry Elliott

The oil shocks of the 1970s-90s had brutal economic impacts. As Israel attacks Iran, a moderate rise in oil prices rests on questionable assumptionsFinancial markets picked up the clear message when Donald Trump cut short his stay at the G7 summit in t…