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The Latest Breaking News on Economy

Union Budget 2023-24: India must grow at 7% in FY24; govt needs to focus on structural reforms

By RP Gupta

The Times of India

Experts suggest recession could be much worse than previously thought

An updated forecast predicts the recession could be cut deeper but will not last as long as previously thought

Manchester Evening News

Brexit: UK set to hit £1trn export target 15 years late

Government accused of ‘failure and broken promises’, as exports set to slump next year

The Independent UK

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

Record number of Britons are now dependent on the state

Analysis showed that 83 per cent of all income tax is paid by just 40 per cent of British adults

Wales Online

Record number of Britons dependent on the state – analysis

The Government wants to revamp the benefits system to boost employment numbers that have not returned to pre-pandemic levels amid labour shortages.

The Independent UK

Big decisions needed on green growth as UK lags behind rivals – CBI chief

Tony Danker will urge the Government not to shy away from hard decisions.

The Independent UK

Recession to be worse than previously thought, experts say

EY said that while the recession might cut deeper than it thought earlier, it will not necessarily last longer than the previous forecast.

The Independent UK

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UK will be 15 years late in hitting £1tn annual export target, figures show

Exclusive: Forecasts predict exports will fall to £707bn next year and target will not be reached until 2035

The Guardian - UK

Stockton Beach disappearing quicker than expected

Stockton Beach is disappearing even quicker than the experts predicted.

Newcastle Herald

Sunak must come up with long-term growth plan, says Tesco boss

John Allan says it is needed to ensure UK economy recovers from cost of living crisis

The Guardian - UK

India to be a $3.7 trillion economy in 2023, says RBI article

MUMBAI: India will be a $3.7 trillion economy in 2023, maintaining its lead over the UK as the fifth largest economy of the world, a Reserve Bank article said on Thursday stressing that the macro economic stability is getting entrenched.

The Times of India

'We don't expect a global recession' in 2023: IMF chief Georgieva

FRANCE 24 spoke to IMF Managing Director Kristalina Georgieva at the World Economic Forum in Davos. Gloomy economic forecasts have cast a long shadow over this year's event in the Swiss Alps. But Georgieva said that although the IMF projects 2023 to be "a difficult year" and for growth to…

France 24

US jobless claims drop to 190,000, lowest level since September

WASHINGTON: Applications for US unemployment benefits unexpectedly fell last week, sliding to the lowest level since September and underscoring a strong jobs market where many businesses are reluctant to let go of workers.

The Times of India

US hits borrowing limit, kicking off fight between Republicans and Democrats – as it happened

Biden and Democrats want to raise debt limit without conditions but House Republicans will only agree if spending is cut – get the latest

The Guardian - US

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Birmingham Post

Bank of England Governor Andrew Bailey on inflation, interest rates and recession

Andrew Bailey has been on an official visit to South Wales

The Independent UK

Countdown in the offing for political fight over debt

The countdown toward a possible U.S. government default is in the offing

Bangkok Post

Is a global recession really coming up?

The world's leading economists spent most of 2022 convincing themselves that, if the global economy was not already in a recession, it was about to fall into one. But with the year 2022 end, the global slump has been postponed to the present 2023.

AAP

Unemployment rate stays at 3.5 per cent

Australia's unemployment rate remains stuck at 3.5 per cent, with 14,600 jobs disappearing from the economy in the latest official statistics.

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StockNews.com

These Are the 3 Best Stocks on Wall Street to Buy Now

Although inflation moderated for the sixth consecutive month in December, a recession is still likely as the Fed is expected to keep raising rates this year. Amid an uncertain economic backdrop, fundamentally strong and popular stocks on Wall Street, Microsoft (MSFT), Pfizer (PFE), and AT&T (T), could make ideal additions…

The Times of India

Union Budget 2023-24: State of Indian economy

NEW DELHI: Finance minister Nirmala Sitharaman is all set to present her fifth Union Budget on February 1. This will be the last full year budget of the Modi 2.0 government before the general elections in 2024.

Evening Standard

Inflation falls by 0.2% to 10.5% but food prices go up by eye-watering 16.9%

There is no sign of easing in food prices, which rose by 16.9% in the 12 months to December 2022

The Guardian - UK

UK inflation dips but food prices rise 17% amid squeeze on low-income families

Annual rate falls in December, although it remains at one of the highest levels in 40 years

Axios

The mood from Davos: Not as bleak

Many key indicators have come in better than forecasters anticipate in recent months.

Tribune News Service

WA jobless workers living 'surrealistic nightmare' as recession looms

Even as economists are forecasting an economic slowdown and rising unemployment in Washington later this year, the state system that provides benefits to jobless workers hasn't even recovered from the last slump.

Asharq Al-Awsat

ILO Warns: Economic Slowdown Could Force Workers to Accept Lower-Quality Jobs

The International Labor Organization (ILO) has warned against the current global economic slowdown which could force workers to accept lower-quality jobs, often at very low pay. The number of unemployed people in the world is expected to rise by 3 million to 208 million in 2023, the ILO said Monday…

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