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Did Harry and Meghan tour Australia to make money – or cosplay a return to royal life? | Monarchy
In Aussie parlance, Meghan and Prince Harry’s whirlwind visit down under was the very definition of a “Claytons” tour.
Claytons in Australia is primarily known as a cultural phrase for a substitute, fake or ersatz version of something, the saying evolving from a 1970s/80s non-alcoholic beverage marketed as “the drink you have when you’re not having a drink”.
Yes, Harry and Meghan are royals. But this was not a royal tour. It was something very different.
No one seems sure exactly why they were here. Were there meant to be streets lined with adoring royalists, throwing posies and waving flags? Or was it really all about publicity and profit?
In the salt air of Sydney harbour, the world’s most famous spare, Harry, joined by his wife, Meghan, wrapped up their four-day tour on Friday.
Between discussing mental health and appearing on the cooking competition MasterChef Australia, the Sussexes celebrated Australia’s social media ban for children, served frittata to homeless women, disappointed gathered crowds by not appearing, wooed others, and had the local media in an absolute frenzy.
Where they went, the eyes of the press followed. And while their events were tightly controlled, with no questions allowed, people still asked: how much were tickets to the commercial dinners (about $3,000), what is Harry like in person, what was Meghan wearing, how much was she earning from putting her looks on OneOff, a “fashion discovery platform” she has investment in – and how much did the taxpayer fork out for this, and why exactly are they here again?
Were they really just here to use Australia as an ATM?
Associate Prof Lauren Rosewarne from the school of social and political sciences at the University of Melbourne says that at the end of the day Meghan and Harry were in Australia to boost their personal brand, which has two arms: charity work and commercial endeavours. Just two people making money for themselves and the things they care about.
“The primary way to measure the success of the visit is whether it helped their brand,” Rosewarne says. “They are, after all, no longer ‘working royals’, so they are visiting Australia in service of their brand as individuals and as a couple.”
While taxpayers footed an unknown cost for some of the extra policing needed for the trip, it was reported that large public gatherings were avoided to prevent higher costs.
“Ultimately, Australia, like the world, has mixed feelings about them,” Rosewarne says.
“The absence of open-to-the-public events means we don’t have great insight into how enthusiastic support is – beyond those who paid several thousand dollars to see them speak at various events.”
It has not gone unnoticed that the pair are reportedly struggling to fund their lifestyle, despite Harry reportedly inheriting roughly £10m (US$13m) from his late mother, Diana, and another £7-8m (US$10.5m) from the queen mother.
Things were very different back in 2018, when the pair first visited Australia.
Newly married and newly pregnant, Australia ate the royals up. They were welcomed by rapturous crowds and met the then prime minister, Scott Morrison. Throngs of people attended their public outings, lavish receptions were thrown and flowers were presented.
Harry himself has noted that the 2018 tour caused waves in Buckingham Palace because of Meghan’s ability to charm the public.
“It was also the first time that the family got to see how incredible [she] is at the job,” he said in a 2021 interview with Oprah Winfrey.
He compared it to a 1983 trip by his parents, Charles and Diana.
The Flinders University associate professor and royals researcher Giselle Bastin says the glamour and newness of the couple then left Australia besotted.
“We were very, very excited,” Bastin says. “They had a glamour attached to them … they felt like a new beginning, like the future of the Windsors.
“[But] there’s been so much fracture and unhappiness around the couple and their relationship with the royals … the celebrity shine has rather worn off.”
During this tour, Meghan headlined the three-day “Her Best Life” retreat in Sydney, including participating in a Q&A. Pitched as a “girls’ weekend like no other”, tickets cost A$2,699 including accommodation, or A$3,199 for a more VIP experience including a group table photo with Meghan.
Along with the luxe wellness retreat, Meghan was promoting As Ever, her collection of products that the website describes as “more than a brand”.
“It’s a love language,” it says of its assemblage of jams, spice kits and candles.
But Bastin says: “They’re not reading the room. Having to flog A$3,000 tickets to a wellness retreat looks quite pointless in the current world climate. It’s tin-eared.”
On this trip, things went a little differently. There were no large crowds, and no large feeling of love. There was a kind of ambivalence.
“It’s a faux royal tour. They’re not working royals,” Bastin says. “I think they’re using Australia as an opportunity to get a sense of the mood, about how they’ll be received … to cosplay what it might be like if they once again become working royals.”
If they were trying to do that, it’s easy to say the whole country was not won over. And some members of the public were outraged. One reader, David, wrote in asking why “so many writers and content makers around the world continue to give text space to Harry Sussex and his fatuous wife Markle, surely some of the largest Grifters in the world today.
“… Let’s move on, please.”
This sentiment is common, says Rosewarne, as “the couple are often viewed as grifters who only have fame because of the very same family they are perceived to constantly besmirch”.
Of course, this is complicated. People love Harry because they’ve watched him grow up, because they adored his mother. People love to hate Meghan because she disrupted that, she says.
“There are those who loathe Meghan because she is a woman, because she is black, because she has a career, because she is perceived to have seduced Harry away from the bosom of his family,” she says.
But not everyone is as sceptical.
Rose Dennis, a diehard supporter of the Western Bulldogs AFL team, does not consider herself a royal enthusiast, but was delighted the prince chose to visit her football club in Melbourne’s inner west.
“I was coming here for training anyway, so having Harry here is an extra bonus,” she says.
She pushes back against critics of the duke and duchess, claiming they are using their profiles for the right reasons.
“I heard someone say it’s just a publicity thing, but it’s not, he’s really interested in men’s mental health,” Dennis says.
Most of the reporting from that day concentrated on what Harry did – he kicked a football, talked about seeing a therapist – and not what he was actually there to talk about: the launch of a report on how much new Australian fathers are struggling and what needs to be done to help them.
“The charities will need to decide whether having them gave them good press,” Rosewarne says. “This is always a complicated question: celebrities can bring attention to causes – can get people to buy tickets to events they otherwise would never have attended – but divisive figures like Harry and Meghan can also work against them.”
Some charities, such as Lifeline, got a decent bang for no buck. Harry volunteered his time and people in the packed-out room forked out more than $2,000 for a ticket to the two-day event.
And some just want to run with the show.
The celebrity PR agent Max Markson has previously offered Meghan US$1m and a private jet to visit Australia to do two events. She declined. But he did organise for her estranged half-brother to appear on Big Brother and her father to appear on 60 Minutes in 2021, when he pleaded for reconciliation with his daughter after the birth of Lilibet.
“They’ve done a lot of good things. They’ve obviously done charity stuff, visited hospitals,” Markson says about the tour.
It’s unclear if the tour resonated with the broader public. Perhaps, only the Sussexes’ bank balances, and those of the charities they help, can ever know. But one thing is clear: the tumultuous marriage between fame and the media prevailed. They at least had the attention of the press.
“The media has written about it a lot,” says Markson. “And that’s good.
“Whether it’s been negative or positive, it doesn’t matter; they’ve made a noise.”
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European stock markets hit record high and oil price falls to three-month low after US-Iran peace deal – business live | Business
European stock markets hit record high
European stock markets have hit a record high at the start of trading, as relief over the US-Iran peace deal ripples across global markets.
The pan-European Stoxx 600 index has jumped by 0.9% to 639 points, over the previous record high set just before the Iran war started, with shares rising in London, Frankfurt, Paris, Madrid and Milan.
Mining and travel companies are driving the rally, while oil company shares are sliding.
That follows sharp gains in Asia-Pacific markets overnight, where Japan’s Nikkei surged by 5% on hopes that the strait of Hormuz will reopen within days.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, says global equity markets are starting the week firmly on the front foot after President Trump announced that a deal with Iran had been reached, adding:
The move has given investors a clear reason to dial back some of the geopolitical risk premium that has hung over markets, especially as the Strait of Hormuz is expected to reopen and oil prices move sharply lower.
Energy prices have been one of the clearest transmission channels from Middle East tensions into inflation, bond yields and equity sentiment, and there is likely to be a concerted effort to get prices down even further once this deal is finalised.
There are still details to be ironed out before markets can fully trust the agreement, but for now the direction of travel is clear: lower oil, calmer nerves and a renewed appetite for risk.
Key events
Peace deal should keep mortgage rates down
Mortgage borrowers can breathe a sigh of relief at the news of a peace deal in Iran, says Adam French, head of consumer finance at Moneyfactscompare.co.uk.
While we are far from being out of the woods yet, a lasting peace deal should dramatically reduce the risk of the Bank of England’s worst-case scenario for inflation and interest rates becoming a reality.
“Under that scenario, Base Rate could have risen to 5.25%, potentially pushing typical rates on new mortgages towards 6.75%. Instead, today’s news means mortgages rates, which have already been slowly falling for several weeks, have likely already passed their peak – at least until the next unwelcome crisis.
“Borrowers can be optimistic but with a word of caution, as inflation and economic data will continue to influence the outlook. However, a lasting peace should remove one of the biggest risks to mortgage costs and may help restore a more stable environment for hard-pressed remortgage borrowers and prospective buyers.”
Even before this morning’s drop in UK bond yields (see earlier post), average mortgage rates have dipped slightly.
Moneyfacts reports:
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The average 2-year fixed residential mortgage rate today is 5.61%. This is down from 5.62% the previous working day.
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The average 5-year fixed residential mortgage rate today is 5.58%. This is down from 5.59% the previous working day.
Why it may take months for oil flows to return to normal
Donald Trump excitedly declared: “Ships of the World, start your engines. Let the oil flow!” last night, but the reality is that it will take some time for oil flows through the strait of Hormuz to return to pre-war levels.
One reason is that many oil tankers are simply in the wrong place, after the long closure of the strait.
Another is that some production and refining facilities have been damaged by the conflict, while others were mothballed after storate facilities filled up to the brim.
A third factor is that insurers could still be wary of the conflict reigniting, and price their cover accordingly.
Neil Shearing, group chief economist at Capital Economics, explains:
Even if ships now have safe passage, tankers are in the wrong place, oil production/refining facilities need to get up to full capacity, and questions over the cost and availability of insurance for ships traversing the Strait will remain.
Our current working assumption is that ~80% of energy flows will resume by the end of Q3. Natural gas flows will be slower to return, following the damage to Qatari facilities earlier in the conflict, which according to local officials has put 17% of production offline for two to three years.
US crude drops below $80
US crude oil has dropped to its lowest level since the second week of the Iran war.
The cost of a barrel of West Texas Intermediate (WTI) light sweet crude has dropped by 6% today to $79.72 per barrel, the first time since 10 March that it has been under $80/barrel.
That could help to pull down US gasoline prices, which climbed after the conflict began, hitting consumer confidence.
UK bond yields fall
Today’s relief rally is also driving up government bond prices, pushing down the cost of borrowing.
The yield (or interest rate) on 10-year UK government debt has dropped by 6.5 basis points (0.065 of a percentage point) to 4.775%.
Two-year bond yields are down 8bps to 4.16%.
Lower bond yields indicate that that the cost of issuing new government debt has fallen, which will be a relief for the UK Treasury after the Iran war drove up borrowing costs.
Copper mining company Antofagasta is now the top riser on the FTSE 100, up almost 8%.
Trader will be concluding that an end to the Iran war will boost the world economy, leading to more demand for raw materials such as copper.
European stock markets hit record high
European stock markets have hit a record high at the start of trading, as relief over the US-Iran peace deal ripples across global markets.
The pan-European Stoxx 600 index has jumped by 0.9% to 639 points, over the previous record high set just before the Iran war started, with shares rising in London, Frankfurt, Paris, Madrid and Milan.
Mining and travel companies are driving the rally, while oil company shares are sliding.
That follows sharp gains in Asia-Pacific markets overnight, where Japan’s Nikkei surged by 5% on hopes that the strait of Hormuz will reopen within days.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, says global equity markets are starting the week firmly on the front foot after President Trump announced that a deal with Iran had been reached, adding:
The move has given investors a clear reason to dial back some of the geopolitical risk premium that has hung over markets, especially as the Strait of Hormuz is expected to reopen and oil prices move sharply lower.
Energy prices have been one of the clearest transmission channels from Middle East tensions into inflation, bond yields and equity sentiment, and there is likely to be a concerted effort to get prices down even further once this deal is finalised.
There are still details to be ironed out before markets can fully trust the agreement, but for now the direction of travel is clear: lower oil, calmer nerves and a renewed appetite for risk.
BP and Shell’s shares slide
Shares in oil companies are falling, though – BP and Shell are both down 3.7%, as investors anticipate an end to their earnngs boost from the Iran war.
FTSE 100 index hits eight-week high
Boom! Britain’s stock market has hit a near-two month high at the start of trading, as investors welcome the breakthrough between the US and Iran to end the Middle East conflict.
The FTSE 100 blue-chip share index has jumped by 99 points, or almost 1%, at the start of trading to 10,570 points, its highest level since 21 April.
Engineering firm Rolls-Royce, which makes and services jet engines, is the top riser on the FTSE 100, up 5.5%, followed by British Airways parent company IAG, up 4.8%.
UK house prices dip in June

Gwyn Topham
Two bits of good news for Britons who don’t own their homes have been revealed, with data showing a drop in house prices in June as well as fewer tenants facing rent hikes last month.
Figures from Rightmove showed the average price of property coming on the to market fell by 0.6% or £2,113 to £376,191, the biggest June fall in fourteen years, with prices 0.5% below this time in 2025. The biggest drops were seen in southern England and Wales, and in asking prices for flats rather than houses.
The property site said the number of homes for sale was still at historically high levels for summer, making it more of a buyer’s market. Mortgage affordability has also improved slightly this month, with the average two-year fixed rate deal dropping about 0.1 percentage points to 5.07%, it said.
Meanwhile, figures suggest that the introduction of the Renters Right Act may already be seeing results in terms of keeping rents down for tenants.
The new law came into force at the start of May and means landlords can only increase rents for sitting tenants once a year. According to Hamptons monthly lettings index, the number of tenants who saw their rent rise was down 23% from the same month last year. Hamptons said if the rest of the year saw similar change, it would expect only 31% of sitting tenants to face increases, compared to 40%-50% in previous years.
However, the agency warned that rent rises in Scotland, where landlords have been operating under a similar system for longer, exceeded the national average. Sitting tenants who faced rent rises had an average increase of 5.4% in May, but the figure reached 7.7% in Scotland, albeit for a lower absolute rent – £952 – than the Great Britain average of £1375.
Speaking of the ECB, their president Christine Lagarde has been warning that inflation pressures are spreading in the euro area.
In an intervew with broadcaster France Culture, Lagarde warned that high energy prices are starting to feed through to other parts of the economy, saying:
“Indirect effects of inflation, we have absolutely started to see that more or less everywhere in recent weeks.”
The US-Iran agreement is well-timed for the Bank of England, which is due to set UK interest rates on Thursday.
If the strait of Hormuz does reopen, and oil flows return towards pre-war levels, there will be less inflationary pressure – and thus less need for interest rate rises.
The European Central Bank raised its interest rates last week, but this week is the turn of the BoE, the US Federal Reserve and the Bank of Japan.
Kathleen Brooks, research director at XTB, says:
Over the past month, the price of oil is down by more than a fifth, and the Brent crude price is now back at levels from early March. This is good news for inflation, which should start tumbling monthly from June, and it could ease concerns about price pressures as we lead up to some major central bank action this week. The decline in the oil price also raises questions about whether the ECB was too hasty in raising rates last week.
European stock markets are on track to jump when trading begins, in just over 20 minutes.
Germany’s DAX share index is up 1.65% in the futures market, Reuters reports, with the UK’s FTSE 100 0.75% higher.
The US dollar is weakening, as investors shift into riskier currencies.
The pound is its highest in over a week, at $1.3438.
Markets rally across Asia
There are strong gains across Asia-Pacific markets today, as investors welcome the deal between the US and Iran.
Japan’s Nikkei share index has leapt by 5%, as has South Korea’s KOSPI, while China’s CSI300 index is 1.9% higher.
Jim Reid, market strategist at Deutsche Bank, says:
Whilst the deal is very good news for markets it looks like tough conversations will have occur in the 60-day window to ensure the peace is sustainable. As an example, the Senate needs to approve any extensive sanction relief for Iran.
For now the can kicking exercise has been very well received by markets even after a strong US close on Friday where hopes were raised of a weekend signing
Introduction: Oil falls to three-month low
Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy.
The peace deal agreed between Iran and the US is sending a wave of relief through the markets today.
Oil has tumbled 4%, and markets across the Asia-Pacific region have jumped, as investors anticipate the reopening of the strait of Hormuz.
Although it is unclear exactly what has been agreed – with the final text of their memorandum of understanding unpublished – Donald Trump’s claim that “oil will flow on both ends again for the region, and the world” is pushing down energy prices – a relief for busineses, consumers, politicians and central bankers alike.
Brent crude has fallen as low as $83.04, its lowest since 10 March, after the prime minister of Pakistan announced the US and Iran will sign a memorandum of understanding in Switzerland on Friday.
That still leaves Brent above its pre-war price of $72.48 a barrel, though.
Trump has indicated that the opening of the strait is contingent upon the signing of the peace deal, scheduled for Friday.
Iran’s Mehr state news, though, reported that the agreed memorandum of understanding calls for the reopening of the strait within 30 days under “Iranian arrangements” – an indication that Tehran hasn’t surrendered its control of the waterway.
Chris Weston of IG points out that there are still obstacles to overcome:
The probable reopening of the Strait of Hormuz later this week would represent a significant positive development. Markets had increasingly questioned how long inventory draws could offset supply disruptions and whether physical dislocations would begin weighing more heavily on risk assets. The focus now shifts towards understanding what normalisation of logistics could realistically look like, and how quickly shipping volumes can return to pre-conflict levels of 120 to 140 commercial vessels transiting eastbound and westbound each day.
There are still obstacles to overcome. Mines may need to be cleared, and there may be structural damage to refineries and export facilities around the region that will take time to repair and come back to pre-conflict capacity.
The agenda
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Paying tribute, Sir Keir Starmer said Lord Hattersley “was a giant of the Labour movement”.
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