The Latest Breaking News from Economy

Treasury proposes ESG restrictions for Trump Accounts

In this week’s edition of Economy and Society:

Ballotpedia · Aug 26

India on track to become third-largest economy despite global crisis: Rajnath Singh

India is among the world's top five economies and will soon reach third place. The nation is strengthening its indigenous defense production capabilities significantly. Defense exports have increased substantially after 2014, reaching new heights. Women now hold prominent leadership roles in defense and development sectors. Citizens are urged to uphold…

The Economic Times · Aug 26

Elon Musk Says We’re ‘1000% Going to Go Bankrupt’ Without Al and Robots — ‘We’re Totally Screwed’ as Interest on National Debt Tops $1 Trillion

Elon Musk warns the U.S. could face financial failure without AI and robots as the national debt tops $40 trillion and annual interest costs surge past $1 trillion.

Barchart · Aug 26

US economy expands at sluggish 1.5% pace in second quarter, but consumer spending stayed strong

The U.S. economy grew at a sluggish 1.5% pace from April through June

The Independent UK · Aug 26

EAC-PM paper suggests consolidation of banks of equal size without compromising market competition

The Economic Advisory Council to the Prime Minister proposed consolidating Indian banks into larger, equally sized entities. This consolidation aims to support the economy's growing credit needs and achieve Viksit Bharat by 2047. Recent mergers reduced public sector banks, bringing scale and potential operational synergies to the industry. Data shows…

The Economic Times · Aug 26

India has fixed its PSU banks. Now comes the more ambitious part

The EAC-PM has proposed consolidating India’s public sector banks into a few large, comparable institutions to meet rising credit demand and finance the country’s growth towards Viksit Bharat 2047. The recommendation comes after a major PSB turnaround, with stronger profits, lower NPAs and faster credit growth. Larger banks could better…

The Economic Times · Aug 26

Europe recycles just 12% of the materials it uses. Here’s how training can accelerate the transition to a circular economy

Since January 2024, ten organisations in four European countries have been working on the following question: If Europe is serious about circular economy, who is actually going to teach people how to run one? Become, short for Boosting Circular Economy Expertise through learning communities, is a project that was designed…

The Conversation · Aug 26

US debt burden raises longer-term risks as borrowing costs rise

US government debt remains a cornerstone of global financial markets, but rising borrowing costs, persistent fiscal deficits and stronger competition for global capital are raising concerns over its long-term sustainability.

The Economic Times · Aug 26

Global economy in tug-of-war between oil shock and AI boom: IMF chief

The global economy is weathering an oil shock better than feared. An investment boom in artificial intelligence is now a growth engine. Drawdowns of oil reserves and non-Gulf supply increases helped mitigate the energy shock. Risks remain tilted to the downside, with fiscal pressures and stalled disinflation causing worry. Developing…

The Economic Times · Aug 26

Deloitte puts the lunar economy at up to $566 billion by 2050—and SpaceX is speeding the timeline

The report, shared with Fortune ahead of its Wednesday release, says ripple effects could push the total above $1.1 trillion if water-ice rocket fuel and orbital data centers pan out.

Fortune · Aug 26