Surveys show Iran war's deepening toll on global business
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Surveys indicate that the ongoing war in Iran is significantly impacting global business. Confidence levels in Australia and the U.S. have plummeted, with notable declines in hiring and investment plans due to rising costs. Industries such as electronics and automotive are experiencing supply chain disruptions and soaring raw material prices. Additionally, disruptions in the Strait of Hormuz have reduced oil flows, leading to record reserve releases that may only provide temporary relief to the escalating global supply gap.
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