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The Latest Breaking News from OECD

In another reset, PM Johnson pitches plan for UK economy, housing

Prime Minister Boris Johnson told Britons on Thursday he was "on your side", vowing to build a high-growth, low-tax economy where everyone could buy their own home, in his latest attempt at a reset after surviving a major revolt against his leadership.

Reuters

UK economy ‘will grind to a halt’ and then shrink, BCC forecasts

Business group downgrades its outlook for growth next year to 0.6% as inflation soars

The Guardian - UK

Fuel cost surge and dire economic forecast shatter PM’s hope of reset

Zero-growth warning for UK as petrol prices surge and OECD says Britain will be weakest economy in G7 next year

The Guardian - UK

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Payroll jobs grow more slowly than 2021

The Australian Bureau of Statistics said payroll jobs grew by 0.2 per cent in the month to May, recovering after the impact of the Easter holiday in April.

AAP

OECD warns of upside inflation risk

The OECD has warned of further upside risks to inflation in Australia and the possibility of more aggressive interest rate rises by the Reserve Bank.

Crikey

Why everyone’s on strike (but why it’s not the 1970s either)

I did something dumb yesterday – I forgot to check Citymapper. So I walked to my local tube station for 7:05am, only to find it was still shut following Monday’s strike. I returned home and in a dangerously decaffeinated haze put my pyjamas back on.

Evening Standard

UK economy to flatline in 2023 as cost of living crisis curbs spending , warns OECD

Inflation set to rise to levels “not seen since the Seventies.”

Evening Standard

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OECD slashes global economic outlook on Russia-Ukraine war

The Organization for Economic Cooperation and Development says Russia’s war in Ukraine and the energy and food crises it worsened will severely drag down global economic growth and push up inflation this year

The Independent UK

Stock Market Today - 6/8: Stocks Finish Lower on Mounting Stagflation Worries: Gas Nears $5 Per Gallon

Slowing growth and surging inflation may not spark a 70s-style bout of global stagflation, but dimming prospects for the U.S. economy weighed on stocks Wednesday.

The Street

Tories under pressure as report says UK economy will grind to a halt next year

THE UK economy will grind to a halt next year and will only be better than Russia’s among the G20, the OECD forecast on Wednesday.

The National (Scotland)

UK on brink of recession and will fall behind all major economies except Russia, OECD warns

Zero growth forecast for Britain next year and global average slashed to 2.8 per cent

The Independent UK

OECD slashes global growth forecasts, urges Australia to keep shifting to renewable energy as Ukraine war continues

The OECD says the war in Ukraine is a humanitarian disaster, and the economic shock will make inflation higher and more persistent

ABC News

UK to be major economy worst hit by Ukraine war, says OECD

Thinktank forecasts UK growth to slow to standstill in 2023, as impact of conflict felt

The Guardian - UK

OECD sees lower world growth due to Ukraine war's 'hefty price'

Paris (AFP) - The OECD warned Wednesday that the world economy will pay a "hefty price" for Russia's invasion of Ukraine as it slashed its 2022 growth forecast and projected higher inflation.

AFP

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Crikey

OECD warns RBA may go harder on rates

The Organisation for Economic Cooperation and Development has warned the Reserve Bank of Australia may need to go harder on interest rates to contain inflation.

Newcastle Herald

Hunter e-scooter trial can't skate past the issues seen elsewhere

Email letters@newcastleherald.com.au or send a text message to 0427 154 176 (include name and suburb).

AFP

Global plastic waste on track to triple by 2060

Paris (AFP) - A world severely blighted by plastic pollution is on track to see the use of plastics nearly triple in less than four decades, according to findings released Friday.

Crikey

Dear minister for health, here’s an agenda for change from someone in the system

Addressing the social and economic drivers of health inequality in Australia is of vital importance. We should not waste a day.

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The Independent UK

American tourist stunned after only being charged $31 for night in Morocco hospital

The 23-year-old travel blogger was terrified his overnight stay at Moroccan hospital would bankrob him

Newsroom.co.nz

ILO lists NZ among labour 'abuse' cases

Fair Pay Agreements will be scrutinised on the global stage, alongside the policies of a select group of countries accused of child labour, trafficking and violent repression, reports Rebe

Tribune News Service

Window closing for US to implement global corporate tax deal

With midterm elections fast approaching, Democrats’ window to follow through on the Biden administration’s plan for rooting out tax havens and raising taxes on global companies’ foreign profits may be closing.

Roll Call

Window closing for US to implement global corporate tax deal - Roll Call

Democrats’ window for rooting out tax havens and raising taxes on global companies’ foreign profits may be closing.

The Guardian - UK

People in US and UK face huge financial hit if fossil fuels lose value, study shows

Strong climate action could wipe $756bn from individuals’ pension funds and other investments in rich countries

Asharq Al-Awsat

UNICEF Accuses Wealthy Countries of Creating Unsafe Environment for Children

A new UNICEF report has revealed that children in the world’s wealthiest countries grow in a relatively healthy environment.

The Hindu

Be wary of growing exports

The growing consumption in rich countries has come at a cost for developing countries such as India

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