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The Latest Breaking News from Economy

Decoding major parties' economic credentials

There's no real data to suggest the economy is better off under a National or Labour government, writes Andrew Bevin

Newsroom.co.nz

Most millennials and Gen Zers feel they have it a lot harder than their parents did in today's economy

Recessions, inflation, an overpriced housing market, and student debt have all made the American Dream feel out of reach for younger generations.

Fortune

IMF sees bleaker economic times ahead for Australia, but the picture’s not all bad

Global assessment says country’s in better position this year than forecast six months ago, but revises down growth outlook to a historically bad 1.2%

The Guardian - AU

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UK to have highest inflation and slowest growth of any G7 economy, IMF says

THE UK is set to become the slowest growing economy among major developed nations next year, according to the International Monetary Fund (IMF).

The National (Scotland)

German government forecasts that the country's economy will shrink by 0.4% this year

Germany's government says it expects the country’s economy to shrink by 0.4% this year

The Independent UK

Israel-Hamas conflict may help Russia in war against Ukraine

Russia is set to benefit from the Israel-Hamas conflict, as Israel’s requests for US military aid risk diverting weapons and focus from Ukraine while the rising price of oil bolsters Moscow’s economy.

The Times of India

Sincere respect for sovereignty and territorial integrity remains foundation for reviving Indian Ocean as strong community: Jaishankar

India's EAM Jaishankar said multilateral rules-based order, respect for sovereignty & territorial integrity is foundation for reviving Indian Ocean as strong community. India will contribute to build capacity, secure safety & security in region, focus on Maritime Safety & Security & Blue Economy. India will work to strengthen IORA's institutional,…

The Hindu

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COVID-19 costing the Australian economy billions

Three years after the pandemic began, the COVID-19 virus is still taking a toll on the economy in sick days and healthcare costs.

AAP

Budget a ‘fundamental reform’ of public finances, Irish finance minister says

The Government insists the 14 billion euro budget package revealed on Tuesday balances current needs with the future wellbeing of the economy.

The Independent UK

Why Australia urgently needs a climate plan and a Net Zero National Cabinet Committee to implement it

Australia has a legislated target to reduce greenhouse emissions, a federal government with commitments to increase the share of renewable electricity and reduce power prices, and a globally important economic opportunity at its feet.

The Conversation

Unveiling of city’s 2024 budget will be 2nd big test of Brandon Johnson’s leadership

Mayor Brandon Johnson will stand before the City Council Wednesday to disclose how he plans to plug a $538 million budget shortfall, more than $200 million of it tied to the migrant crisis.

Chicago Sun-Times

Euro 2028 could be ‘massive boon’ for Scottish economy, says Humza Yousaf

HUMZA Yousaf has said the legacy of Scotland hosting the Euro 2028 tournament could be a “massive boon” for the economy...

The National (Scotland)

KCR’s objective is to prevent Kavita from going to jail, make KTR CM: Amit Shah

Amit Shah asserts BJP will never align with BRS, which is close to Majlis Party and "family-oriented, corrupt". He urges people to evaluate Modi govt's work, which has provided crores of rupees for Telangana's development. BJP is for country's development, not dynastic rule, corruption and vote bank politics. Modi govt…

The Hindu

UK economy set for weakest growth in G7 next year as IMF cuts its forecasts

Higher interest rates to stay as global economy ‘limping along’

The Independent UK

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Evening Standard

Sunak’s Harold Wilson act is a recipe for economic disaster

City Voices: If the Government is serious about growing the economy and levelling up then it needs to prioritise cities

The Independent UK

Sunak says jointly hosting Euro 2028 will deliver ‘massive boost’ to economy

Culture Secretary Lucy Frazer said the tournament is expected to deliver £2.6 billion of socio-economic benefit across the host nations.

Fortune

Janet Yellen says inflation is actually being ‘really well-behaved’ as she strikes optimistic tone on jobs

U.S. Treasury Secretary Janet Yellen said interest rates are not causing “dysfunction” in the market.

The Hindu

India’s space economy has potential to reach ₹35,200 crore ($44 billion) by 2033 with about 8% of global share

At present, the share of the domestic market is ₹6,400 crore ($8.1 billion). The export market share is ₹2,400 crore ($0.3 billion). The aim is to increase the domestic share to ₹26,400 crore ($33 billion), and the export share to ₹88,000 crore ($11 billion).

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Evening Standard

Euro 2028: UK and Ireland confirmed as hosts with £2.6billion boost to the economy expected

Scrutiny will now inevitably fall on security after the carnage that marred the Euro 2020 final at Wembley

The Independent UK

IMF outlook worsens for a world economy left 'limping' by shocks like Russia's war

The International Monetary Fund warns that the world economy is losing momentum in the face of higher interest rates, the ongoing war in Ukraine and widening geopolitical rifts

The Guardian - UK

UK interest rates will need to stay high into 2024, warns IMF

Britain faces ‘fairly subdued’ growth and ‘persistent’ inflation, global economic health check finds

AAP

Soft landing more likely for limping global economy

The global economy is limping along as inflation proves persistent, although the IMF is feeling more optimistic about a soft landing.

The Guardian - UK

The Guardian view on Labour’s conference message: win by focusing on the economy

Editorial: Rachel Reeves’ plans for stable growth contrast favourably with the Tories’ record of wasteful, corrupt and inept administration

The Guardian - UK

Mark Carney is ace in Rachel Reeves’ already strong hand against Tories

Ex-Bank of England governor’s backing for shadow chancellor shows how far Labour’s economic message has travelled

Barchart

Will Elevated U.S. CPI and Strong Labor Market Keep the Fed Hawkish?

The 10-year T-note yield last Friday posted a 16-year high of 4.885% and is up more than +100 bp this year. Elevated U.S. consumer prices and a surprisingly strong labor market have bolstered expectations for the Fed to keep interest rates higher for longer. Resilient demand in the U.S. economy...

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