PERTH — Western Australia is finally set to join the digital age for driver identification, with the Cook Labor Government announcing Thursday it will introduce optional digital driver’s licences by late 2027 after allocating $28.2 million in the upcoming state budget.

The initiative, unveiled in Perth, includes a trial beginning mid-2027 and full rollout by the end of that year. Digital licences will initially live in the ServiceWA app’s digital wallet, with plans to expand compatibility to Apple Wallet and Google Wallet for broader convenience.

Science and Innovation Minister Stephen Dawson described the move as a significant step toward modern, secure government services. “These changes are designed around how people live and work today,” Dawson said. “Having key credentials available digitally means less paperwork, fewer delays, and greater convenience.”

Assistant Transport Minister Jessica Stojkovski emphasized that the digital licence would remain optional. Physical cards will stay available “for the foreseeable future,” addressing concerns from residents wary of fully digitizing sensitive documents.

“You can choose to have a digital driver’s licence if that suits your circumstances and lifestyle, but equally if you like having a physical driver’s licence, you can do that as well,” Stojkovski said.

The funding comes from the Digital Capability Fund and will support not only driver’s licences but also a broader State Digital Identity system. This will enable Western Australians to access more online services and secure transactions while maintaining control over their personal data.

Security has been a key focus during development. WA deliberately took longer than eastern states to ensure the system meets top national and international standards. Stojkovski highlighted enhanced safety features, particularly for proof-of-age scenarios at licensed venues.

When scanned for age verification, the digital licence will share only necessary confirmation — such as “over 18” — without revealing full personal details. This contrasts with current physical cards, where venues may capture and store complete information with uncertain data practices.

Transport Minister Rita Saffioti noted most Western Australians already carry their phones daily, making the digital option a natural extension of modern life. The system builds on recent innovations like phone-based SmartRider public transport tagging.

WA has lagged behind other Australian jurisdictions. New South Wales, South Australia, Victoria and others rolled out digital licences years ago, while Tasmania and the Northern Territory advanced plans for 2026 launches. The state’s cautious approach prioritized robust cybersecurity to protect the personal data of roughly 2.2 million licence holders.

The digital credential will allow near real-time verification, ensuring information stays current and accurate. This promises faster licence issuance and replacements, reducing visits to physical service centres. Upgrades to the WA Relationship Authorisation Manager will also improve business-government interactions.

For everyday users, the benefits are clear. Forgot your physical licence? Pull out your phone. Need to prove age quickly? A secure scan does the job with minimal data exposure. The system aligns with national efforts to harmonize digital identities across Australia.

Privacy advocates and older residents have raised questions about digital access and data security. The government has stressed inclusivity, with physical options remaining and strong safeguards against theft or fraud. Dawson noted the project lowers chances of identity theft through better-controlled sharing.

The ServiceWA app already supports Digital ID setup for those over 15 with compatible smartphones. Users link documents like driver’s licences, birth certificates or passports through the myID platform (formerly myGovID) for stronger verification.

Implementation will involve collaboration with licensed venues, police and other stakeholders to ensure smooth acceptance. The pilot phase mid-2027 will test functionality, user experience and verification processes before wider availability.

This rollout forms part of a broader digital transformation under the Cook Government. It complements other initiatives aimed at making services smarter, more efficient and user-friendly while supporting economic growth through reduced administrative burdens.

Industry groups have welcomed the news. Road safety organizations see potential for better compliance checks, while tech sectors view it as boosting WA’s digital credentials. For businesses, real-time verification could streamline hiring, age-restricted sales and insurance processes.

Challenges remain. Not everyone owns a compatible smartphone, and network coverage in regional WA could affect reliability. The government has committed to addressing these through the trial phase and ongoing consultation.

As WA catches up, the digital licence represents more than convenience — it signals a shift toward secure, privacy-focused identity management. With $28.2 million committed, the state aims to deliver one of the strongest systems nationally.

Motorists are encouraged to stay informed via the ServiceWA app and Department of Transport channels. While physical licences continue unchanged for now, the optional digital version promises to make carrying identification simpler and safer for those who choose it.

The announcement comes as Australia moves toward greater digital integration. With most states already offering or planning mobile licences, WA’s entry completes the national picture and positions the state for future interoperable systems.

For millions of Western Australian drivers, the phone in their pocket could soon serve as their official licence — a practical evolution in how identity travels in the 21st century. The mid-2027 trial will provide the first real test of this long-awaited technology.

Ford is recalling more than 140,000 Ranger trucks in the U.S. after federal safety regulators warned a wiring issue could elevate the risk of fire, as well as potential crashes or injuries.

The recall affects 140,201 vehicles spanning the 2024 through 2026 model years, according to the National Highway Traffic Safety Administration (NHTSA).

The agency said the problem is linked to wiring associated with the sun visor and headliner that may be routed incorrectly or wrapped with too much tape, conditions that can cause the wires to degrade and potentially trigger an electrical short near the A-pillar.

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To address the issue, Ford dealers will examine the wiring and update the vehicle’s body control module software. Harnesses showing signs of damage will be replaced at no cost to owners, the agency said.

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The recall is being rolled out in phases, beginning with certain 2025 model-year trucks. Owner notification letters are scheduled to start the week of May 31, followed by additional rounds in late June for 2026 models and late July for 2024 models.

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Regulators said interim notices alerting drivers to the safety risk are expected to be mailed April 27, with a final repair solution anticipated later in the summer. The campaign is identified as 26S29, and affected VINs have been searchable on NHTSA’s website since mid-April.

Reuters contributed to this report. 

Gold and silver prices opened sharply lower on the Multi-Commodity Exchange of India on Friday as oil prices surged back towards $110 per barrel, intensifying inflation concerns and raising expectations that interest rates may stay higher for longer.

Tensions escalated further after Iran released footage of commandos boarding a cargo vessel in the Strait of Hormuz, along with reports that its air defence systems had engaged what were described as “hostile targets.”

In the domestic market, MCX silver futures for May 2026 delivery fell Rs 2,300 or 1%, to Rs 2,39,200 per kg. Gold futures for June 2026 delivery declined Rs 600 or 0.4% to 1,51,159 per 10 grams. In the previous session, silver and gold ended higher by 0.25% each.

Rising crude oil prices tend to fuel inflation by increasing transportation and production costs, which in turn raises the likelihood of higher interest rates. Although gold is traditionally seen as a hedge against inflation, higher interest rates reduce its appeal by making yield-bearing assets more attractive.

Globally, yellow metal was little changed on Friday but remained on course for a weekly decline. Spot gold edged up 0.1% to $4,697 per ounce as of 0105 GMT, though it has fallen 2.6% so far this week, snapping a four-week winning streak. U.S. gold futures for June delivery slipped 0.2% to $4,712.50. Spot silver also eased 0.1% to $75.36 per ounce.

How should you trade gold?

Manoj Kumar Jain of Prithvi Finmart said gold and silver are likely to remain volatile in today’s session due to fluctuations in the dollar index, swings in crude oil prices and uncertainty around the US-Iran peace deal.
He sees gold support at $4,681–4,640 and resistance at $4,755–4,790 per troy ounce. Silver has support at $72–68 and resistance at $78–80.40 per troy ounce for the day.
On MCX, gold has support at Rs 1,55,000–1,49,800 and resistance at Rs 1,52,350–1,53,100, while silver has support at Rs 2,38,800–2,34,000 and resistance at Rs 2,45,000–2,48,500.

He advises waiting for stability in bullion markets before taking fresh positions.

Gold rates in physical markets

Gold Price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,12,712/8 grams while pure gold (24 carat) prices stand at Rs 1,22,952/8 grams.

Gold Price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,12,592/8 grams while pure gold (24 carat) prices stand at Rs 1,22,832/8 grams.

Gold Price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,13,272/8 grams while pure gold (24carat) prices stand at Rs 1,23,576/8 grams.

Gold Price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,12,592/8 grams while pure gold (24 carat) prices stand at Rs 1,22,832/8 grams.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Roughly 1,400 people across Nike’s Global Operations team will be laid off, the company announced Thursday.

In a memo to employees, Chief Operating Officer Venkatesh Alagirisamy said the cuts will primarily affect Nike’s technology division and span North America, Asia and Europe, representing just under 2% of the company’s global workforce.

“This is not a new direction,” Alagirisamy wrote. “It is the next phase of the work already underway.”

The announcement follows a series of recent job cuts as Nike restructures its operations.

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In January, the company said it would cut 775 jobs as part of an automation push at distribution centers. 

In February 2024, Nike announced plans to reduce its workforce by about 2%, or more than 1,600 employees, and a few months later, in August, said it would cut less than 1% of corporate staff as part of a broader turnaround effort under CEO Elliott Hill.

Shares rose about 0.5% in after-hours trading, though Nike stock has lost more than half its value over the past three years.

According to Alagirisamy’s memo, the layoffs are aimed at streamlining supply chains for materials, footwear and apparel, and centralizing technology operations in two hubs: Beaverton, Oregon, and the Nike India Technology Center.

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Nike also plans to move some Converse manufacturing and engineering operations closer to factory partners.

“These changes are meant to make the company less complex and more responsive,” Alagirisamy said. “As we look ahead, that means simplifying parts of how we operate, using more advanced automation where it helps us work better, and building an even stronger end-to-end foundation for future growth.”

Ticker	Security	Last	Change	Change %
NKE	NIKE INC.	44.78	-0.90	-1.97%

Hill, who became CEO in 2024, has pledged to refocus the Nike brand on core sports, such as running and soccer, while accelerating new product launches.

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Nike forecast a 2% to 4% drop in sales this quarter, with China, a key market, expected to decline about 20%, the company said.

Nike referred FOX Business to Alagirisamy’s memo when asked for comment.

FOX Business’ Eric Revell and Reuters contributed to this report.

Operator

Good day, and welcome to the Enova International First Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Lindsay Savarese, Investor Relations for Enova. Please go ahead.

Lindsay Savarese
Investor Relations

Thank you, operator, and good afternoon, everyone. Enova released results for the first quarter 2026 ended March 31, 2026, this afternoon after market close. If you did not receive a copy of our earnings press release, you may obtain it from the Investor Relations section of our website at ir.enova.com.

With me on today’s call are Steve Cunningham, Chief Executive Officer; and Scott Cornelis, Chief Financial Officer. This call is being webcast and will be archived on the Investor Relations section of our website.

Before I turn the call over to Steve, I’d like to note that today’s discussion will contain forward-looking statements, and as such, is subject to risks and uncertainties. Actual results may differ materially as a result from various important risk factors, including those discussed in our earnings press release and in our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Forms 8-K. Please note that any forward-looking statements that are made on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information

NEW YORK — World oil prices climbed sharply on Friday, with Brent crude topping $105 per barrel and WTI hovering near $97 as stalled U.S.-Iran ceasefire talks and persistent disruptions in the Strait of Hormuz kept markets on edge amid one of the most significant supply shocks in recent years.

As of late morning trading on April 24, 2026, Brent crude futures, the global benchmark, rose more than 1% to trade around $105.50-$106.14 per barrel. West Texas Intermediate crude gained similarly, settling near $96.50-$97.40. Both contracts have surged more than 50% year-over-year, reflecting heightened geopolitical risk premiums that have dominated trading for weeks.

The primary catalyst remains the effective closure or severe restriction of the Strait of Hormuz, through which roughly 20% of global oil supply normally flows. Ongoing military tensions, including threats to tanker movements and reported seizures, have dramatically reduced shipments. Analysts warn that even partial normalization could take weeks or months, keeping upward pressure on prices.

Standard Chartered and other banks now describe $95 per barrel as a potential new equilibrium level in the near term, with some forecasts calling for sustained highs even if flows resume partially. The price action has rippled through energy markets, lifting gasoline futures to multi-year highs and contributing to broader inflation concerns.

U.S. Energy Information Administration data and industry reports show global oil supply dropped sharply in March, with OPEC+ output falling dramatically due to infrastructure attacks and export constraints. Non-OPEC production also faced headwinds, amplifying the shortfall at a time when demand remains relatively resilient despite economic uncertainties.

The International Energy Agency revised its 2026 demand outlook downward in its April report, now projecting a slight contraction of 80,000 barrels per day on average. However, near-term tightness from the Hormuz disruptions overrides longer-term demand softness, supporting current elevated levels.

Traders monitored statements from U.S. officials indicating no immediate rush to finalize any Iran deal. President Trump’s comments that an agreement would come only “when it’s appropriate” added to uncertainty, preventing a meaningful pullback in risk premiums. Israel’s continued threats of further action in the region compounded the volatility.

On Wall Street, the energy sector outperformed as broader indices showed mixed results. Airline and consumer stocks faced pressure from higher fuel costs, while oil service companies and producers gained. The surge has also influenced currency markets, with the U.S. dollar strengthening against some emerging market currencies.

Refinery margins have expanded in key regions as product prices, particularly gasoline and diesel, climbed in tandem with crude. U.S. gasoline futures hit levels not seen in years, raising concerns about summer driving season costs for American consumers.

Longer-term forecasts vary widely. J.P. Morgan maintains a more bearish outlook for late 2026, projecting Brent averages near $60 if surpluses return after the current crisis eases. Others, including some IEA scenarios, see prices settling in the $75-$90 range by 2027 once supply chains normalize.

OPEC+ faces difficult decisions on production. The group has already seen significant output cuts forced by events rather than voluntary restraint. Any coordinated response could further influence prices, though internal dynamics and compliance issues complicate coordination.

U.S. shale producers have ramped up activity in response to higher prices, but regulatory and infrastructure constraints limit rapid response. Canadian and Brazilian output provides some offset, yet Middle East disruptions dominate the narrative.

Retail fuel prices in the United States have risen steadily, with national averages for regular gasoline approaching or exceeding $4 per gallon in many regions. Analysts warn that sustained high crude could add several cents weekly at the pump, potentially influencing consumer spending and Federal Reserve policy considerations.

Emerging markets, particularly those heavily dependent on imports like India and parts of Europe, face greater strain. Higher energy costs could exacerbate inflation and slow growth in vulnerable economies. China, the world’s largest importer, has shown mixed demand signals amid its own economic challenges.

Storage levels and tanker tracking data indicate inventory draws in key hubs, though official weekly U.S. EIA reports have shown occasional builds from strategic movements. Floating storage has increased as traders seek to capitalize on contango in futures curves.

Environmental groups and renewable advocates point to the crisis as underscoring the risks of oil dependence, calling for accelerated transition policies. Conversely, industry voices argue for increased domestic production and infrastructure investment to enhance energy security.

Technical analysts note Brent has broken key resistance levels, with momentum indicators suggesting potential for further upside if Hormuz tensions persist. Support sits around $100, with stronger floors near $90 if de-escalation news emerges. Options markets show elevated implied volatility, reflecting trader caution.

As markets digest the latest developments, attention turns to upcoming diplomatic efforts and weekly inventory data. Any credible progress toward reopening the strait could trigger a sharp reversal, while prolonged closure risks pushing prices toward $110-$120 territory seen earlier in the flare-up.

The current oil price environment serves as a stark reminder of geopolitics’ power over commodity markets. For consumers, businesses and policymakers worldwide, the coming weeks will test resilience as elevated energy costs filter through economies already navigating inflation, growth concerns and shifting alliances.

Whether this spike proves temporary or marks a new pricing regime depends heavily on resolution in the Persian Gulf. For now, the world’s most vital commodity trades at a significant premium, with ripple effects likely to influence everything from household budgets to global inflation trajectories in the months ahead.