The Brent crude oil price is on track for a record surge as the conflict in the Middle East continues.

Oil prices have been climbing all month as a result of the conflict and experts have raised concerns.

Harbour Asset Management's Shane Solly explained further.

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Chris Luxon says the Government's proposed LNG important terminal in Taranaki will only proceed if it makes commercial sense.

A procurement process was announced last month, with the Government due to make a decision on whether to proceed around the middle of the year.

Newstalk ZB understands multiple ministers privately admit high gas prices might lead Cabinet to walk away from the project.

The Prime Minister told Mike Hosking that the Government will seriously consider the options put on the table.

He says he genuinely wants to make sure the business case is right - and if there's a good business case they'll do it, and if there isn't, they won't.

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There's growing calls for Kiwis to buy New-Zealand made products as pressures mount on our manufacturing sector and local producers.

This follows the recent announcements of closures of both McCain and Heinz Wattie's processing sites.

Buy NZ Made executive director Dane Ambler says we need to nip this in the bud now, as demand collapses.

"There's growing international competition, so now is really the time to back local and step in and get as much support as we can."

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The Warehouse Group has reported a first half net profit after tax of nearly $16 million.

CEO Mark Stirton told Heather du Plessis-Allan he is 'pleased' with the result

But, like most of the world, concerns over Iran and fuel costs plague future outlooks.

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A Los Angeles ​jury recently found Meta and Google guilty of designing harmful social media platforms that encourage addictive behaviour in users.

The jury found Meta liable for $4.2 million in damages and Google for $1.8 million, and it's expected this case will inspire similar legal cases.

Senior public health researcher at UOA, Dr Samantha Marsh, says this is a historic moment for social media.

"This is the first time that they've actually been taken to court, they've been found liable for their product. Up until now, it's just been about what people post on their platforms and they can't be held responsible for that. But this kind of changes everything."

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Labour may still hand a lifeline to the Government's much-touted surcharge ban.

The policy was announced with much fanfare last year - with Minister Scott Simpson promising it would be in force by May.

But he now says the bill's on pause, after David Seymour confirmed ACT won't back it.

National's now hoping for Labour's support for it to pass, with the Opposition keen to see amendments made so retailers don’t bear the costs of the payments themselves.

Retail NZ's Carolyn Young says she think's it's unlikely the banks can be forced to absorb them.

"If they can get the banks to absorb the fees, that would be a great outcome."

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The Government is looking at potentially helping Channel Infrastructure increase its fuel storage capacity at Marsden Point.

Channel - New Zealand’s largest fuel import terminal business - has identified some 'very preliminary options' for significantly increasing its diesel storage capacity more quickly than would normally be the case.

NZ Herald Wellington business editor Jenee Tibshraeny explained further.

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The New Zealand sharemarket turned downwards, finishing with a fall of over 1.53 percent.

The conflict in the Middle East has continued on, and oil prices have kept going up as a result.

Milford Asset Management's Jeremy Hutton explained further.

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