Maritime and port workers: how is the Middle East conflict affecting you?

The conflict in the Middle East is disrupting shipping across the region, including in the Strait of Hormuz, one of the world’s busiest maritime routes.Maritime traffic through the strait, the narrow channel linking the Persian Gulf with the Gulf of Oman, has effectively been closed since strikes on Iran began. Some vessels have been diverted or delayed and ports and shipping companies are dealing with heightened security concerns and uncertainty.Meanwhile, at least six major cruise ships, each carrying thousands of tourists, are anchored in or close to harbours across the region, their passengers confined to the shipsWe would like to hear from maritime workers, port staff and shipping crews about how the situation is affecting your work.You can get in touch with us confidentially by using the form below or by messaging us

Labor says Australia won’t run out of fuel due to the Iran conflict. So how much do we have and how long will it last?

“There is no need to panic-buy petrol.”Those words from the treasurer, Jim Chalmers, on Wednesday were a bid to reassure Australians that the US-Israeli war on Iran did not mean our nation was about to run out of fuel.There has been some breathless reporting of Costco service stations running out of petrol, and long lines at other servos as motorists rush to fill up before the anticipated price rises.Three days after the start of missile strikes on one of the world’s biggest oil producers, Chris Bowen, the energy minister, on Tuesday suggested that the only thing to fear was fear itself.“There are real challenges, but there is no need for panic-buying; that will just make the situation worse,” Bowen said, in advice reminiscent of the Covid toilet paper shortages

UK oil firm fined £13m for repeatedly publishing inaccurate financial results

John Wood Group has been fined nearly £13m for repeatedly publishing inaccurate financial results.The FTSE-listed oil and has engineering company, which is soon to be bought by a Dubai-based rival, has previously admitted that “cultural failings” led to information being kept from auditors.On Wednesday, the Financial Conduct Authority handed Wood Group a £12.9m fine for inaccurate reporting between January 2023 and November 2024. The watchdog began an investigation into the firm in June last year

Workers at top 20 US low-wage firms rely on public assistance, report says

Many workers at some of the largest US corporations have no choice but to rely on healthcare and food assistance because of low wages, even as CEO compensation continues to grow, according to a new report released Wednesday.The report, published by the Institute of Policy Studies, focuses on 20 of the S&P 500 corporations that have primarily US-based workforces and report the lowest median wages of the group.Collectively, this “Low-Wage 20” employs 6.7 million people in the US. The median pay at a majority (75%) of the companies is lower than the income minimum for a family of three to be eligible for Medicaid in most states

UK supermarket chain Iceland drops trademark dispute with Iceland

The UK supermarket chain Iceland has abandoned its decade-long trademark battle with Iceland and instead promised a “rapprochement discount” for shoppers in the country.After the budget grocery chain suffered its third legal loss last year, its executive chair, Richard Walker, said on Wednesday that it would draw a line under the dispute.Lord Walker told the Financial Times he would take “the couple of hundred grand we would have spent in legal fees in the fourth and final round in the EU court and reapply that to a rapprochement discount to the good Icelandic people. It’s something I’m going to do.”The discount is expected to take the form of shopping vouchers that Icelandic people can use at the frozen food retailer

UK borrowing costs jump again on fears Iran conflict will curb growth

UK borrowing costs jumped for a second day on Tuesday as the potentially damaging effects of the Iran conflict spooked investors concerned that growth will stall across the major industrial economies.Investors fear inflation will rise, driven by rising oil and gas prices, hitting businesses and households just as they are recovering from a long period of elevated inflation.Analysts said higher energy costs were likely to lead to price rises, forcing central banks to delay expected cuts in interest rates until later this year.Brent crude passed $83 a barrel on Tuesday, up from about $60 in December.The government had hoped that last month’s decline in inflation to 3% and a faster fall in Whitehall’s annual spending deficit would further push down the interest on UK debt