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The Latest Breaking News from Economy

‘So immoral’: gig economy workers charged fee to get paid quicker

Retail assistants on low pay using YoungOnes platform told to wait up to 30 days for earnings or be charged for quick payment

The Guardian - UK

Fed rate cuts are already over after they barely started as blowout jobs report shifts focus to hikes, BofA says

"Inflation is stuck above target and risks are skewed to the upside. Economic activity is robust. We see little reason for additional easing."

Fortune

How a robot cafe in Tokyo aims to empower – not replace – human workers

Inventor Kentaro Yoshifuji’s robots allow people to work at the Dawn cafe from anywhere in the world – ‘teleportation’ technology that could open up new demographics for Japan’s flatlining economy. Adam Withnall reports from Tokyo

The Independent UK

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Reeves vows to stand by fiscal rules to achieve stability despite market turmoil

UK chancellor made comments during visit to China where agreements were made worth £600m to UK economy

The Guardian - UK

Labour urged to change course to avoid 'crisis point' as economy tanks

LABOUR have been warned they must change course urgently or risk bringing the country to a “crisis point” amid a series of dire economic…

The National (Scotland)

UK Finance Minister Begins China Visit Amid Govt Bond Crisis

British finance minister Rachel Reeves began a visit to China on Saturday, seeking to revive dialogue with the world's number two economy as UK borrowing costs soar.

International Business Times

Reeves defiant over China trip in face of growing criticism and economic turmoil

Labour chancellor accused of ‘undesirable’ policies and ‘incompatible promises’

The Independent UK

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Glasgow needs an economy strong enough to sustain its heritage

Letters: It needs to realise its Victorian buildings are an asset rather than a liability, writes Richard Owen; plus a letter from Douglas Anderson

The Guardian - UK

Blowout December Jobs Report Puts Rate Cuts on Ice: What the Experts Are Saying

The strongest surge in hiring since March keeps the Fed on hold for now.

Kiplinger

US jobs data sparks Wall Street sell-off while pound slump continues

Global stock markets were in the red on Friday as investors reacted to stronger-than-expected labour market data from the world’s largest economy.

Evening Standard

Soaring air fares between Melbourne and Sydney see travellers take 11-hour train

Exclusive: Seats on Sydney-Melbourne train service regularly sell out over holiday period, as one-way flights to Tullamarine average almost $500

The Guardian - AU

US job market soars past expectations in last report before Trump retakes White House

Economy adds 256,000 jobs in December, with Biden boasting of 16.6m jobs created during presidency

The Guardian - US

US sees unemployment drop further after strong jobs report from the holidays

U.S. hiring picked up unexpectedly in December as employers added 256,000 jobs, another sign of the economy’s resilience in the face of high interest rates

The Independent UK

All Eyes On Final Jobs Report For 2024: What To Expect In 2025

The slowdown in labor market is due to the post-pandemic recovery, job growth in a few industries, high interest rates, tech advances, and uncertainty about the economy, global events, President-elect Donald Trump's potential policies.

International Business Times

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The Independent UK

Cabinet minister defends Rachel Reeves trip to China during economic crisis

The value of the pound fell to its lowest level in over a year while UK borrowing costs jumped to their highest since the financial crisis

The Guardian - UK

Minister defends Rachel Reeves’ China trip amid market turmoil – as it happened

Lisa Nandy says chancellor’s visit to China is ‘right and proper’, despite continued bond market sell-off

Radio France Internationale

Who is Alcide Ponga, New Caledonia's new pro-French president?

The French Pacific territory of New Caledonia has named French loyalist Alcide Ponga as its new head of government, as the archipelago attempts to recover from months of violent unrest that has left the economy in tatters.

The Independent UK

Stock market today: Asian shares slide further as rate cut, tariff worries hit market sentiment

Shares have fallen for a second day in Asia after U.S. markets were closed to observe a National Day of Mourning for former President Jimmy Carter

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The Independent UK

Streeting urged to honour promise to end osteoporosis service postcode lottery

It comes amid warnings that the condition ‘disproportionately affects women’ with the risk of ‘enormous’ costs to the economy.

The Independent UK

Liz Truss lays into Rachel Reeves over economy and trip to China

Chancellor faces Tory calls to scrap planned visit to Beijing

Barchart

Crude Prices Finish Higher on Energy Demand Optimism

February WTI crude oil (CLG25 ) Thursday closed up +0.60 (+0.82%), and February RBOB gasoline (RBG25 ) closed up +0.0181 (+0.90%). Crude prices Thursday settled moderately higher but remained below Wednesday's 3-month high. Signs of strength in the global economy support energy demand and crude prices after German industrial production...

The Independent UK

UN predicts world economic growth at subdued 2.8% in 2025

The United Nations says the world economy resisted battering by conflicts and inflation last year and is expected to grow a subdued 2.8% in 2025

Barchart

Crude Prices Supported by Signs of Strength in the Global Economy

February WTI crude oil (CLG25 ) today is up +0.86 (+1.17%), and February RBOB gasoline (RBG25 ) is up +0.0258 (+1.28%). Crude prices today are moderately higher but remain below Wednesday's 3-month high. Signs of strength in the global economy support energy demand and crude prices after German industrial production...

The Guardian - UK

‘Stop saying I crashed the economy,’ says Liz Truss. Is it possible to gaslight an entire country?

The former PM has sent a cease and desist letter to the current one. Will everyone who thinks she was useless get one next, asks Guardian writer Hugh Muir

The Independent UK

PM will not moderate language on Truss despite cease and desist letter – No 10

Downing Street questioned whether Ms Truss would also be writing to ‘millions of people up and down the country’ who shared the Prime Minister’s view.

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