Australia is facing its shortest rate cut cycle in 30 years as the RBA hints it may have to start hiking

The Reserve Bank’s governor, Michele Bullock, has effectively ruled out further rate cuts and flagged that hikes may be needed in 2026 if the recent inflationary rebound proves persistent.Speaking at a press conference after the widely expected decision to hold the cash rate at 3.6%, Bullock seemed surprisingly upbeat as she delivered the bad news to the roughly 3.3 million households with a mortgage.“I would say at this moment that, given what’s happening with underlying momentum in the economy, it does look like additional cuts are not needed

UK households cut spending at fastest pace in almost five years, says Barclays

UK households cut back on spending at the fastest pace in almost five years last month as consumers put Christmas shopping on hold, according to a leading survey.Adding to concerns that uncertainty surrounding the budget has helped dampen consumer confidence, Barclays said card spending fell 1.1% year on year in November – the largest fall since February 2021.The bank said retailers still enjoyed their busiest day of the year so far on Black Friday, with transaction volumes 62.5% higher than the average day for 2025

‘I feel it’s a friend’: quarter of teenagers turn to AI chatbots for mental health support

It was after one friend was shot and another stabbed, both fatally, that Shan asked ChatGPT for help. She had tried conventional mental health services but “chat”, as she came to know her AI “friend”, felt safer, less intimidating and, crucially, more available when it came to handling the trauma from the deaths of her young friends.As she started consulting the AI model, the Tottenham teenager joined about 40% of 13- to 17-year-olds in England and Wales affected by youth violence who are turning to AI chatbots for mental health support, according to research among more than 11,000 young people.It found that both victims and perpetrators of violence were markedly more likely to be using AI for such support than other teenagers. The findings, from the Youth Endowment Fund, have sparked warnings from youth leaders that children at risk “need a human not a bot”

Social media use damages children’s ability to focus, say researchers

Increased use of social media by children damages their concentration levels and may be contributing to an increase in cases of attention deficit hyperactivity disorder, according to a study.The peer-reviewed report monitored the development of more than 8,300 US-based children from the age of 10 to 14 and linked social media use to “increased inattention symptoms”.Reseachers at the Karolinska Institute in Sweden and the Oregon Health & Science University in the US found that children spent an average of 2.3 hours a day watching television or online videos, 1.4 hours on social media and 1

F1 2025 awards: Lando Norris justifies favourite tag after gruelling three-way tussle

McLaren were the obvious choice for team of the year but Lewis Hamilton and Ferrari were a big disappointment while Williams exceeded expectationsLando Norris had gone into the season as favourite and he emerged on top after a gruelling contest. Securing his maiden world drivers’ title was no easy feat given how hard he had been pushed by his McLaren teammate, Oscar Piastri, and Red Bull’s Max Verstappen. Closing it out was testament to a driver who maintained his nerve and confidence even as at times it seemed the title had slipped from his reach.The three title protagonists all had impressive seasons. Piastri, who had been so strong with a series of excellent wins, was let down by his drop in form in the final third, when he was found wanting on the circuits with low grip and made several errors that proved costly

England dealt fresh Ashes blow with Mark Wood ruled out for rest of series

The blows just keep coming for England in Australia. On Tuesday came confirmation that Mark Wood will miss the remainder of the Ashes tour because of a knee problem that resurfaced after the first Test defeat in Perth.It represents a heartbreaking setback for Wood following a lengthy battle to be fit for a series that England now find themselves trailing 2-0. The 35-year-old underwent surgery on his left knee in March, sent down 11 overs in the series opener, only to then miss the eight-wicket loss in Brisbane.“Gutted to be out of the remainder of the Ashes,” said Wood, sharing the news on social media