Fears of an all out war in the Middle East are impacting financial markets, with the price of crude oil rising as Iran strikes Israel. Follow the day's events and insights as they happen on the live markets blog.
As well as two stores in Melbourne and one in Sydney, the business has an online store and a wholesale business that supplies restaurants and other hospitality businesses.Its directors Syd Weddell and Peter Walmsley say the business' collapse is an "enormous disappointment".
"Following our post COVID investments for growth, we faced economic headwinds which have not enabled us to realise the expectation of returning to pre COVID profitability," they said." will continue to trade while the"The Administrators aim to move quickly to preserve as much of the business and as many jobs as possible.
"The quit rate – an indicator of wage growth – decreased below 2.0% for the first time since May 2020.How Brent crude oil reacted to Iran's attack"The Brent crude oil price increased sharply from $US70/brl to as high as $US75.44/brl," notes CBA this morning."Government bonds rallied while equity markets retreated up to 2% in Europe and the US.
"While the conflict in the Middle East has potential to escalate further, the USD has potential to jump."By Emilia Terzonhow changes to negative gearing concessions could impact the market.Why a dock workers' strike could throw shipping into choascould throw global supply chains into disarray.and it is set to cripple the nearly 50 per cent of US imports that trade through the affected ports.
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