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The Latest Breaking News on Economy

How opposition leaders praised Nirmala Sitharaman’s Budget 2023

NEW DELHI: While leaders of the ruling BJP-led NDA are gloating over the budget presented by finance minister Nirmala Sitharaman on Wednesday, some opposition leaders unexpectedly have also praised it.

The Times of India

Bank of England poised for big rate hike to tame inflation

The Bank of England is expected to raise interest rates by as much as half a percentage point

The Independent UK

Vaughan Gething outlines his priorities for the Welsh economy

Apprenticeships and the foundational economy will be priorities

Birmingham Post

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IMF urges tough tax reforms as Australia treads 'narrow path' to avoid recession

The Albanese government is being urged to embark on a range of unpalatable economic and tax reforms to pay for massive spending already baked into its budget.

ABC News

Fed hikes key interest rate by quarter-point, signals more ahead

The Fed did note for the first time that price pressures are cooling. It said “inflation has eased somewhat but remains elevated.”

Chicago Sun-Times

The Guardian view on economics in the media: poorly communicated, poorly understood

Editorial: Economics affects us all, yet is too often treated as an abstract field fenced in by impenetrable rules

The Guardian - UK

Majority of schools in England closed to some pupils amid teachers’ strike

Secondary schools were more likely to have closed their doors to some cohorts of pupils than primary schools, according to figures by the DfE.

The Independent UK

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Owning These 3 Stocks Could Make You Rich in 10 Years

Consistently falling prices and stronger-than-expected fourth-quarter GDP are renewing hopes about the economy’s overall health. Therefore, it could be wise to add quality stocks with solid fundamentals, Walmart (WMT), Bristol-Myers Squibb (BMY), and CVS Health (CVS), to your portfolio to garner substantial returns in 10 years. Read more….

StockNews.com

Centre Presented Budget Keeping In Mind 2024 Parliamentary Polls: Samajwadi Party MP Dimple Yadav

The Centre has presented the Union Budget keeping in mind the 2024 parliamentary elections, said Samajwadi Party MP Dimple Yadav. Read further on Dynamite News:

Dynamite News

India to raise spending on job creation ahead of election

Prime Minister Narendra Modi’s government plans to ramp up capital spending by 33% in a $550 billion annual budget designed to spur economic growth and create jobs ahead of a general election next year

The Independent UK

Reserve Bank expecting up to 800,000 fixed home loan contracts will end this year

As charities report increases in workers needing support amid rising living costs, the Reserve Bank is forecasting household pressures will increase as fixed-term home loans end.

ABC News

New compensation data shows inflation pressure fading

It looks increasingly like last year's surge in worker compensation was a one-time bump.

Axios

Fuel retailer warns of cost-of-living 'trade-offs'

Ampol says there are trade-offs to be made between living costs, fuel security and the energy transition.

AAP

Tax cuts, factory perks: What to watch for in Union Budget 2023

The Union Budget on Wednesday will test the government’s resolve to stay fiscally prudent as expectations of lower taxes, wider social security net and further boost to production gather steam before national elections.

The Times of India

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Evening Standard

The Standard View: Britain’s economy is falling behind, with little end in sight

After national security, a strong economy is the top priority for any democratically-elected government. Sustainable growth and low inflation don’t just look good in Budget red books, they materially improve the lives of citizens. But in absolute and relative terms, Britain is falling behind.

The Times of India

Economy to grow by 7% in FY23; current account deficit may widen: Highlights of Economic Survey 2023

Chief economic advisor (CEA) V Anantha Nageswaran on Tuesday unveiled the Economic Survey 2022-23 and said that the Indian economy is poised to do better on the back of reforms undertaken by the government.

The Times of India

Nirmala Sitharaman tables Economic Survey 2022-23 in Lok Sabha: Highlights

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday presented the Economic Survey in Parliament ahead of the Union Budget to be presented on Wednesday.

The Guardian - UK

Official UK jobless figures may be missing 3m people, study finds

Report on ‘hidden unemployment’ shows stark north-south divide in adults out of work due to ill health or lack of good opportunities

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Axios

IMF says recession "not in our baseline" as it raises global growth forecasts

"2023 could be the year of turning points, with growth bottoming out and inflation decreasing," IMF chief economist says.

The Independent UK

IMF warns UK economy is set for sharp contraction in ‘weakest performance among G7’

IMF predicts UK economy will contract by 0.6% in 2023 as Britain looks set to suffer more than most from soaring inflation

The Independent UK

UK economy to shrink more than Russia, predicts IMF

The forecast leaves the UK economy languishing behind sanctions-hit Russia

Daily Mirror

UK economy to go BACKWARDS in 2023 with worst performance of all major nations

The UK is set to see its economy contract 0.6% this year according to the International Monetary Fund which will be the worst performance of all the advanced nations

Evening Standard

UK recession warning as IMF predicts weakest performance among G7

Britain's economy will slam into reverse this year as the cost-of-living crisis hits households hard, the International Monetary Fund warns

The Independent UK

German economy shrank 0.2% in Q4, worse than expected

Official figures show that Germany’s economy shrank by 0.2% in the fourth quarter compared with the previous three-month period

The Times of India

Union Budget 2023-24: Global economic slowdown may lead to business uncertainty, shows TOI-Deloitte survey

NEW DELHI: The Union Budget 2023-24 assumes significance as it is being presented at a time when global headwinds might impact India's growth trajectory.

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