Business

Aldi is cutting hundreds of positions in its UK head office and logistics divisions as part of a broader global effort to reduce costs.

Poundland, along with its 11,000 employees, is expressing hope for a last-minute rescue deal to delay its impending collapse and avoid immediate administration.

Libya's vast oil and gas reserves have made it a focus of European diversification efforts amid the global energy crisis sparked by the US-Israel war on Iran, but the country remains energy-insecure, with falling gas exports, chronic blackouts and $17bn in subsidies eating up 35 percent of GDP. Greater foreign demand risks reinforcing the hydrocarbon-dependent model that has kept Libya trapped in the resource curse, unless structural reforms address its domestic energy problems.

Australia’s cash rate is expected to rise from 4.35% to 4.6% on Tuesday, the highest level since 2011 and the fourth increase of 2026, pushing typical mortgage rates to 6.5%. The hike would add about $119 to monthly repayments on an average new $731,000 mortgage and cut borrowing capacity by a further $11,200.