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The Latest Breaking News on Economy

Economists predict US inflation will keep cooling and the economy can avoid a recession

A survey shows most business economists think the U.S. economy could avoid a recession next year, even if the job market ends up weakening under pressure brought by high interest rates

The Independent UK

Fear and anger rise in Germany over handling of budget crisis

Der Spiegel accuses Scholz of ‘leading country into chaos’ as MPs scramble to plug €60bn shortfall

The Guardian - UK

End to wage cap, new dispute resolution for NSW workers

Nurses, paramedics, police and other essential workers are set to benefit from landmark reforms scrapping wage caps and delivering interest-based bargaining.

AAP

From analysis to the latest developments in health,
read the most diverse news in one place.

Blow for Rishi Sunak as UK to have second-slowest growth in G7

The OECD slashes its economic growth forecast for UK, while increasing expected inflation rate

The Independent UK

Jeremy Hunt’s debt reduction plan ‘a very big fiscal risk’, says OBR

Treasury’s independent forecaster says uncertain spending plans and higher than expected inflation could scupper cuts

The Guardian - UK

Scholz Defends Spending As Budget Crisis Rocks Germany

German Chancellor Olaf Scholz on Tuesday staunchly defended his government's record on spending after a bombshell court ruling on crucial debt rules sparked a budget crisis.

International Business Times

Why You Should Care About The Budget Crisis Rocking Germany

German Chancellor Olaf Scholz will address parliament Tuesday about an escalating budget crisis triggered by a bombshell court ruling that his government breached constitutional debt limits.

International Business Times

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How to Cushion Your Business Bank Account in an Uncertain Economy

Putting these practices in place can help your business weather the storm if economic disaster strikes.

Kiplinger

Flagship post-Brexit trade deal worth even less than ministers claimed, official estimates show

The Independent revealed earlier this year government’s predicted 0.08% boost risked being an overestimate

The Independent UK

Crisis-mired Germany To Blow Through Debt Limit In 2023

Germany will seek to suspend a constitutional debt limit for a fourth straight year, its finance minister said Thursday, after a shock court ruling upended government spending plans and sparked a budget crisis.

International Business Times

OBR halves UK growth forecast and warns inflation will exceed 2% target until 2025

Despite £27bn windfall for the autumn statement, government forecaster warns of generally more difficult outlook until 2028

The Guardian - UK

OPINION - The Standard View: Jeremy Hunt is walking a tightrope on tax cuts

Having met his pledge to halve inflation by the end of the year — albeit thanks to the Bank of England — Rishi Sunak has confirmed that tax cuts will be in tomorrow’s Autumn Statement. Much of the focus is likely to fall on business taxation in the face of…

Evening Standard

Sunak says he will cut taxes ‘over time’ as he reveals new economic priorities

PM signals that business tax cuts more likely than personal ones as he sets out ‘next phase’ of government’s economic plan

The Guardian - UK

PM unveils five new pledges as he promises tax cuts ahead of Autumn Statement

RISHI Sunak has said he is taking “five long-term decisions” in a bid to grow the economy and public finances.

The National (Scotland)

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AAP

Cashed up schools get $3b in bonus funding: report

New analysis has found taxpayers are forking out $2.9 billion over the next six years over and above private schools' needs-based funding.

AAP

Robust wage print expected as one-off pay bumps hit

Workers' wages have been growing strongly in a tight labour market, with new data set to show how quickly pay packets are expanding.

Reason

The U.S. Needs a Fiscal Commission Because Congress Won't Do Its Job

In the last 50 years, when the budget process has been in place, Congress has managed only four times to pass a budget on time.

The Independent UK

Bank of England expected to keep interest rates unchanged amid risk of recession

Bank of England’s Monetary Policy Committee announces its next interest rates decision on Thursday

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Reason

Spending Recklessly in Good Times Is a Recipe for Disaster in Bad Times

Years ago, when interest rates were low, calls for the federal government to exercise fiscal restraint were dismissed. That was unwise.

Kiplinger

Stock Market Today: Stocks Extend Monthly Losing Streak

The main indexes ended Tuesday with modest gains but finished October in the red.

The Hindu

An unfolding economic tragedy

A sober analysis of GDP growth just before and after COVID points to a medium-term annual GDP growth forecast of 3%-4%

The Guardian - UK

Sunak ‘highly unlikely’ to meet promise to cut NHS waiting lists, warn health leaders

‘Sobering’ analysis suggests backlog will rise to 8 million next summer after a decade of underinvestment in the NHS

The Hindu

Crushed by inflation, populace using loans to make ends meet: Congress

The October bulletin ‘shows extremely concerning economic trends’ as inflationary trends have remained above the RBI’s threshold level of 4%.

Evening Standard

UK 'skirts with recession' as private sector declines again, PMI survey finds

A recession might already be underway as the Bank of England's recent interest rate hikes slow the economy

The Hindu

MGNREGS is a demand-driven scheme, no question of deficit in it: Rural Development Minister Giriraj Singh

Union Minister Giriraj Singh says MGNREGS is demand-driven, no scope of deficit. Finance Ministry has given blank cheque to meet shortfall. Govt. has shifted to DBT & Aadhaar seeding of job cards to bring transparency.

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