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The Latest Breaking News from Deficit

Mid-year budget update will project deficit of nearly $37 billion for current financial year

Wednesday’s budget update will project a deficit of $36.8 billion for this financial year, which is $5.4 billion better than forecast in the Pre-election Economic and Fiscal Outlook (PEFO) issued before the May election.

The Conversation

Jim Chalmers won’t have good news in Myefo. Instead, he’ll be trying to sell Labor’s good intentions

The unwelcome return of inflation means Anthony Albanese’s government is desperate not to be seen to be adding to the problem

The Guardian - AU

Budget update to reveal Australia's fiscal fortunes

The federal treasurer says he's booked another $20 billion in savings in the budget update, but is keeping mum on whether that means a smaller deficit.

AAP

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read the most diverse news in one place.

December cut to UK interest rates ‘nailed on’ after economy shrinks unexpectedly by 0.1% in October – as it happened

Disappointing UK GDP report shows economy contracted by 0.1% in both September and October

The Guardian - UK

FTSE 100 up as Fed sounds softer tone than feared

After Europe’s close on Wednesday, the US central bank cut interest rates by 25 basis points as expected.

Evening Standard

Things Trump ‘Needs’ To Do for American’s Wallets in 2026, According to Economists

Economists outline key financial steps Trump should take in 2026 to strengthen Americans’ wallets and boost economic stability.

GOBankingRates

Trump's Tariffs Were Supposed To Cut the Trade Deficit and Boost U.S. Manufacturing. They're Not Working.

For Trump, tariffs are a solution to every problem, and his trade war is more about the vibes than the economics.

Reason

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UCI Cyclo-cross World Cup Terralba: Michael Vanthourenhout outsprints Joris Nieuwenhuis and Laurens Sweeck to win first World Cup of the season

Sweeck reduced his deficit in overall standings to 4 points to Thibau Nys

Cycling News

I have no memory: Bryce Cotton blown away by crazy win

Adelaide have overcome a 21-point, third-quarter deficit to post a famous one-point win over the Wildcats in Bryce Cotton's emotional return to Perth.

AAP

Canberra overcome illness and deficit to win thriller

The UC Capitals have won a 76-75 tussle against the Geelong Venom, courtesy of a courageous double-double by Opal Zitina Aokuso.

AAP

Woeful England slide towards second Test defeat as Mitchell Starc and Australia dominate

England 134/6 (trail Australia by 43 runs): The tourists are facing a 2-0 series deficit after Starc starred in Brisbane

The Independent UK

‘This is a bad idea made worse’: Senate Dems’ plan to fix Obamacare premiums adds nearly $300 billion to deficit, CRFB says

The plan to protect Obamacare would cost nearly $550 billion over 10 years if it were made permanent, the budget watchdog said.

Fortune

Tariffs and the $38 trillion national debt: Kevin Hassett sees ‘big reductions’ in deficit while Scott Bessent sees a ‘shrinking ice cube’

The favorite to become Fed chair says tariffs are an important part of Trump’s economic policy and behind “a lot of the revenue coming into the Treasury.”

Fortune

Donald Trump says national debt is ‘peanuts’ compared with tariff income, which will pay dividends—but the math isn’t adding up

A $2,000 dividend for each citizen would increase the deficit by $6 trillion, according to one estimate, roughly twice as much as Trump’s tariffs are estimated to raise.

Fortune

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Tom’s Hardware

AI data-centre buildout pushes copper toward shortages, analysts warn — only 70% of 2035 demand could be met, 2025 deficit thought to be 304,000 tonnes

Copper producers and market analysts are starting to outline a supply gap that arrives just as hyperscale AI campuses ramp toward record power draws.

International Business Times UK

Trump Highlights Economic Gains as Data Points to Falling Deficit, Wage Recovery and Manufacturing Growth

Trump shares new economic data showing lower deficits, rising wages, stronger manufacturing output and booming business investment in early 2025.

Barchart

Copper Bull Case 2026: Fundamentals, Trend, Correlation, and a Proven Nov-Feb Seasonal Play

Don’t just retweet and forget—pull up the seasonal copper chart, check the correlation years, run the numbers. If you’ve never traded copper before, this is the setup that turns heads. Do your homework. Then see if $7 copper is a reality.

Sports Illustrated

Man Utd Player Ratings vs. Crystal Palace: Two Droughts Ended in Comeback Win

The Red Devils overturned a half-time deficit to edge past Palace in south London.

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The Guardian - UK

Your Party is voted to be called … Your Party, Jeremy Corbyn announces – UK politics as it happened

Former Labour leader announces official name at conference in Liverpool after vote by members

Evening Standard

Starmer stands by Reeves as claims grow she misled public on finances

Downing Street says Reeves’ remarks were ‘entirely accurate’ as pressure grows over claims she misled voters

The Guardian - UK

Water shortages could derail UK’s net zero plans, study finds

Tensions grow after research in England finds there may not be enough water for planned carbon capture and hydrogen projects

Euronews

What to expect as Belgium faces third day of strikes against austerity measures

Belgium faced major disruptions since Monday as trade unions staged a three-day strike against government austerity measures, affecting public transport, airports and ports.

Euronews

Eight EU countries face warning from the Commission over budget spending

Eight member states, including Spain, Hungary and the Netherlands, could face a formal reprimand from the European Commission in June if they do not take further action to stay within the EU’s public spending rules.

The Independent UK

MAGA senator slams Trump’s $2,000 check plan: ‘We can’t afford it’

Wisconsin’s Ron Johnson joins other Senate Republicans in arguing that money earned from President Donald Trump’s tariffs would be better spent on easing the $38 trillion national deficit

Benzinga

Copper Gets A 2026 Price Bump, As Diverging Market Forces Raise Alarm

Copper prices are set for further gains in 2026. Tightening supply, widening market deficits, and mine disruptions all amplify concerns about the metal’s long-term availability. UBS is the latest bank to upgrade the yearly outlook, warning that persistent operational setbacks and falling inventories are now exerting a decisive influence on…

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