US markets see-saw as investors keep close eye on Iran war

US stocks see-sawed on Monday as investors tried to keep abreast of the news on the first day of trading since the US and Israel attacks on Iran began.After dipping down over 1% across the board, the major indexes recovered most of their losses even after global markets saw heftier drops earlier in the day. At Monday’s closing, the Dow was down 0.15%, while the S&P 500 was 0.04% up

A gas shock – not an oil shock – from the Iran war looks more threatening | Nils Pratley

The price of oil grabs most of the energy-related attention during conflicts in the Middle East for understandable reasons: oil is the commodity on which the world runs (still) and analysts have roughly reliable models for what every $10 per barrel increase in cost does to global growth and inflation.So, on that front, one can say we’re still a long way from “oil shock” territory. Monday’s rise to $79 a barrel, up 9% since the end of last week, is sizeable, especially as the price was $62 at the start of this year, but remember that $125 was seen shortly after Russia’s invasion of Ukraine in 2022 and $100-plus was then sustained for three months.A gas shock, however, looks a real and present threat. European wholesale gas prices rose 50% as QatarEnergy, the world’s largest producer of liquefied natural gas (LNG) halted production after being targeted by Iranian drone strikes

Men almost twice as likely as women to earn high salaries in ‘reality check’ on Australia’s gender pay gap

Men are nearly twice as likely as women to be making $220,000 a year, with minimal progress made on closing Australia’s gender pay gap in the past 12 months.The federal government’s Workplace Gender Equality Agency (WGEA) published its gender pay gap results for 10,500 employers on Tuesday. It revealed there was a slight increase in the number of women in highly paid roles, but men were still 1.8 times more likely to be in the upper quartile of earners on an average salary of $221,000.On the other hand, women were 1

Maritime insurers cancel war risk cover in Gulf as Iran conflict disrupts shipping

Leading maritime insurers have cancelled war risk cover for vessels operating in the Gulf as the escalating Iran conflict disrupted shipping and sent some freight costs surging.At least 150 vessels including oil and liquefied natural gas tankers have dropped anchor in the strait of Hormuz and surrounding waters, and at least three tankers were damaged and one seafarer killed over the weekend.The vital shipping route, through which about 20% of the world’s oil supplies and 20% of seaborne gas tankers pass, is effectively closed after the US and Israel began intense airstrikes on Iran on Saturday.Several leading mutual marine insurers, including Norway’s Gard and Skuld, the UK’s NorthStandard and the London P&I Club, and the New York-based American Club, said they were cancelling war risk cover for ships operating in the region.This is likely to further dissuade shipowners from traversing the Gulf

BrewDog bought by US cannabis and drinks firm for £33m, costing nearly 500 jobs

The UK and Irish assets of BrewDog, the Scottish self-styled “punk” brewer, have been sold to the US cannabis and drinks firm Tilray for £33m, in a deal that will cost nearly 500 jobs and leave legions of the company’s early-stage crowdfunders empty-handed.Tilray agreed a deal to buy BrewDog’s brand, intellectual property, UK brewing operations and 11 “strategic” bars in the UK and Ireland, the two companies confirmed, preserving 733 jobs. The remaining 38 bars will close immediately, at a cost of 484 jobs.Tilray said it was negotiating separately to buy BrewDog assets in the US and Australia.“No offer was made at any stage of the sales process, from any prospective bidder, which would have preserved BrewDog in its entirety,” AlixPartners, which acted as the administrator for BrewDog, said in a statement

McDonald’s CEO’s awkward taste test sparks mocking online: ‘His aura screams kale salad’

Business leaders are increasingly placing themselves in front of the camera, in an effort to appear more relatable to a social media-first audience. When it goes well, it can be a huge hit. When it doesn’t, you risk becoming the subject of online ridicule.In the recent case of Chris Kempczinski, the McDonald’s CEO and president, it’s the latter.A video of the head of the iconic fast food chain trying a new menu item has gone viral, with social media and online comedians mocking his awkward taste test and citing it as evidence that he did not enjoy the experience of his own firm’s burger