War on Iran ‘making us all poorer’ but RBA may need to hike interest rates again, official warns

A senior Reserve Bank official says soaring fuel prices from the Iran war is “making us all poorer”, but signalled the central bank may need to hike interest rates again to prevent inflation getting out of hand.Chris Kent, an assistant governor at the RBA, said that a hit to financial markets from a global energy shock would normally argue against further rate rises.“A negative supply shock pushes up prices and leads to weaker economic activity, making us all poorer. Central banks cannot change that,” Kent said.“But they can ensure that the initial rise in prices does not lead to a rise in longer term inflationary expectations and extended inflationary pressures

British suppliers to be prioritised for contracts in sectors vital to national security

British suppliers will be prioritised for public contracts in shipbuilding, steel, AI and energy infrastructure under new guidance marking them out as sectors vital to national security.Departments will also have to either use British steel or justify sourcing it from overseas, under the rules announced by the government.The policy was already in the works but has been brought forward as the war in the Gulf and resulting shocks highlighted the fragility of global supply chains.Also, a Public Interest Test will oblige departments to assess whether outsourced service contracts over £1m could be delivered more effectively in-house. The test will cover more than 95% of central government contracts by value

Record investment in quantum computing talent | Letter

Dr Simon Williams (Letters, 19 March) writes that ambition in quantum computing cannot succeed without sustained investment in people and fundamental science. He is correct on that point, but wrong to say that UK’s investment plans risk losing quantum computing talent.The UK’s advantageous position in quantum has only emerged through sustained long-term public investment from UK Research and Innovation (UKRI) and partners into fundamental physics research projects, and the best people, infrastructure and partnerships. It is through this that the UK is poised to reap the benefits of the quantum revolution.In the last 10 years, UKRI’s councils have made investments in physics research, supporting hundreds of academics and building the foundation for where we are today

UK iPhone users face over-18 age check to use services after update

Millions of Apple iPhone customers in the UK will now have to confirm they are 18 or older to use all available services, including by showing a credit card or by scanning an ID.The move, believed to be a first for a European market, comes amid pressure on tech companies from the government to do more to protect children online.The new requirement will be included in a software update. It was welcomed by Ofcom, the online regulator, which called it “a real win for children and families” and said it was part of a wider drive to “keep young people away from harmful content”.However, some users complained that it raised concerns about the privacy of the information that is uploaded to prove age

‘It’s something bling’: Gout Gout ready to sparkle as he enters new phase of sprint career

Dazzling in his sponsor’s tracksuit, and sparkling with an earring and two glimmering chains, sprint sensation Gout Gout told his first press conference in Melbourne his confidence is growing.The teenager spoke to a swarm of cameras on Thursday, ahead of the Maurie Plant Meet on Saturday. The major attraction of the marquee night in Australian athletics is a rematch of the 200m race against Lachie Kennedy last year, when Gout was upstaged.Gout said his friendly rivalry with Kennedy was “amazing”, but he was confident he would be able to perform on Saturday. “Knowing there’s so many people here to watch you run and watch you compete, well, it just brings out the best in you,” the 18-year-old said

Jessica Pegula left frustrated as Elena Rybakina roars back to reach Miami last four

Jessica Pegula had her chances. Midway through the second set of yet another showdown with Elena Rybakina, the American had engineered a flawless start. After bulldozing through the opening set, Pegula’s level at the beginning of set two put her in with a fair shot of snatching a win against her Kazakhstani opponent, who has dominated their recent meetings.Instead, Pegula departed Miami with another tough lesson to parse through after being shown once again that the best players in the world pounce on even the smallest drops in intensity. Despite her mediocre start, Rybakina produced a brilliant comeback to reach the Miami Open semi-finals with a 2-6, 6-3, 6-4 win