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The Latest Breaking News from OECD

Australia's COVID response was 'overreach' and worsened existing inequalities, according to independent review

Australia’s response to COVID-19 exacerbated existing inequalities within the society, according to an independent review, which urges that “overreach” be avoided in dealing with future such crises.

The Conversation

HSBC 'green' ads banned because they did not give information on bank's own emissions

The bank was told by the Advertising Standards Authority to ensure 'future marketing communications featuring environmental claims were adequately qualified'

Wales Online

HSBC ‘green’ ads banned for omitting information about bank’s own emissions

The posters, seen on bus stops in Bristol and London in October 2021, read ‘Climate change doesn’t do borders’.

The Independent UK

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OECD Expects Saudi Arabia to Top G20 Economies for 2 Years

The real GDP growth projections of the Saudi economy are expected to reach 9.9 percent this year, and six percent in 2023, recording the highest growth rate among the G20 countries, according to a report by the Organization for Economic Cooperation and Development (OECD). The report "OECD Economic Outlook Interim…

Asharq Al-Awsat

Living costs top worry for Israeli voters stuck in election treadmill

Israelis are as fed-up with soaring prices as they are with the country's seemingly never ending elections. In the Nov. 1 ballot - a fifth in less than four years - steep living costs, exacerbated by record inflation, are top priority for voters.

Reuters

Brazil's slippage in corruption index clouds OECD membership, report says

Brazil slipped in its global corruption positioning due to government interference in the work of law enforcement agencies that has caused serious consequences for anti-graft efforts, Transparency International (TI) said on Tuesday.

Reuters

Half of poorest countries have cut health spending despite Covid, says Oxfam

Analysis of budgets finds rich nations, including UK, ‘exacerbated explosion of economic inequality’

The Guardian - UK

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Liz Truss dreams of growth – but even if she pulls it off, it won’t help Britain

Incomes have stalled while the rich get richer. It’s clear the obsession with GDP has to change, says the University of Sheffield’s Michael Jacobs

The Guardian - UK

Government ‘burying head in sand’ over health inequality, says bishop of London

Exclusive: UK’s most senior female bishop calls for long-awaited white paper promising ‘bold action’

The Guardian - UK

Ukraine takes first step towards joining OECD economic group

Ukraine took a first step in the process towards joining the Organisation for Economic Cooperation and Development on Wednesday after the OECD said it could be a prospective member.

Reuters

Big Brazilian gold refiner delisted amid Amazon mining probe

One of Brazil’s biggest gold refiners, which processes gold suspected of being mined illegally in the Amazon rainforest, has been stripped of an important industry seal of approval that global manufacturers from Apple to Tesla rely on to root out abuses in their supply chains

The Independent UK

One year in, Japanese PM’s ‘new capitalism’ faces old complaints

Japanese leader’s signature economic strategy has been criticised for lacking concrete details or targets.

Al Jazeera

Banks raise interest rates in response to RBA – as it happened

This blog is now closed

The Guardian - AU

Donald Trump sues CNN claiming defamation, RBA to raise rates again, and Ringo Starr cancels concerts — as it happened

The news Australia is searching for and all the news that happened while you snoozed. This is The Loop: your quick catch-up on this morning's stories as they happened.

ABC News

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The Conversation

Orthodox thinking won't cut it: why Mathias Cormann's leadership of the OECD has economists worried

In June 2007, Jean-Philippe Cotis, the chief economist of the Organisation for Economic Cooperation and Development, declared that 2008 was going to be a great year.

AAP

Multinational tax reform gets under way

The Albanese government has opened consultations on international corporate tax reforms to close tax loopholes exploited by multinationals.

The Guardian - UK

Google UK staff earned average of more than £385,000 each in 18 months

Figures to end of December come as tech firm gave almost £1bn in share-based payments

ABC News

Australia's public education funding went backwards during COVID pandemic

Public funding of education was cut in Australia during the early stages of the coronavirus pandemic, as most of the OECD did the opposite, according to a new report.

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The Canberra Times

How the government plans to make multinationals pay their share of tax

The federal government has begun moving on international tax reforms.

France 24

‘Severe economic slowdown’ awaits Europe as energy crunch bites

The Organisation for Economic Co-operation and Development (OECD) published a gloomy economic forecast for 2023 on September 26 – suggesting that Europe faces a very difficult economic climate if the current energy crisis worsens, with winter temperatures likely to be a decisive factor.

The Conversation

A global recession looks increasingly likely – but here's how Australia could escape it

Global stock markets are tanking on fears of recessions in the US, the UK and Europe, and the OECD is actually forecasting recessions in Europe.

The Independent UK

OECD: War in Ukraine to drag on global economy into 2023

The Organization for Economic Cooperation and Development says Russia’s war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year

AAP

Australia not safe from economic downturn

The troubles facing the global economy are far from over and Australia is unlikely to get away unscathed, an OECD report says.

The Guardian - AU

Without radical tax reform, Australia faces an insoluble public finance problem

Simplifying our complex tax code of tens of thousands of pages is essential. It enables legal structuring of affairs to minimise tax liabilities

The Independent UK

OECD: Russia war, virus and climate hurting world's poorest

Russia’s war against Ukraine, the lingering coronavirus pandemic and the damage of climate change are putting intense pressure on the world’s poorest, the Organization for Economic Cooperation and Development warns

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