A proposal slated by Pauline Hanson to allow Australians to withdraw more from their superannuation would “decimate” the retirement income of millions of Australians, Treasurer Jim Chalmers warned this morning. “[Superannuation] is a really important part of our economic security and retirement incomes for Australian workers,” Chalmers told Seven’s Sunrise. Federal Treasurer Jim Chalmers.Alex Ellinghausen
NEW YORK — Analysts are expecting major oil companies to report raking in large spring profits while fighting between Iran and the U.S. impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages. The conflict, now in its sixth month, halted most shipping through the Strait of Hormuz, a narrow
In response, the Saudis pumped as much oil as they could – about five million barrels a day – through their east-west pipeline to their Red Sea export terminal on their opposite coast at Yanbu. From there it was loaded onto tankers heading south to the Arabian Sea and markets in Asia. So far, so
Throughout its negotiations with the United States, Iran has insisted that it has the right to control movement through the strait and introduce tariffs for the passage of ships. The United States and its Gulf allies, as well as governments in Europe and Asia, oppose this and say passage through the strait must return to
The speaker of the Iranian parliament, Mohammad Bagher Ghalibaf, accused the United States of violating its Memorandum of Understanding (MoU) on this issue and others, including attacks in southern Iran and “violating Iranian adjustments in the Strait.” “The era of harassment and extortion is over. It leads nowhere. We will not bow down,” he said.