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The Latest Breaking News from OECD

OECD forecast: High rates and inflation to slow world growth

Hobbled by high interest rates, punishing inflation and Russia’s war against Ukraine, the world economy is expected to eke out only modest growth this year and to expand even more tepidly in 2023

The Independent UK

If you think the world’s energy crisis is bad right now, next winter will be worse, says the OECD

The OECD says the true scale of the world’s economic woes will only become clear in 2023, when the organization predicts “a significant slowdown" for the global economy.

Fortune

Five-year mortgage rates drop below 6%; UK lagging G7 rivals; European stocks at three-month high – as it happened

Average five-year fixed mortgage rate has dropped below 6% for the first time in seven weeks, as OECD cuts growth forecasts

The Guardian - UK

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‘I’m afraid to have children’: fear of an older future in Japan and South Korea

As birth and fertility rates fall, there is official concern about the economic impact of a declining and ageing population

The Guardian - UK

Opinion: The Yuan’s Status as a Reserve Currency Could Improve

After the recent turmoil in forex markets blows over, central banks around the world will be likely to reduce their holdings of the yen, pound and even the euro, allocating more assets to the more stable yuan

Caixin Global

Australia criticised for resisting Cop27 push to end international fossil fuel subsidies

Labor party’s environment wing says it’s ‘disappointing’ Albanese government has not joined partnership which would build consensus across OECD

The Guardian - AU

Global corporations ‘cheating public out of billions in tax’, say campaigners

Tax Justice Network says countries lose $89bn a year by allowing anonymity over use of tax havens

The Guardian - UK

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A future never to be seen

The former local politician reviews the review of local government, and is not confident its broad wellbeing goals will ever see the light of day.

Newsroom.co.nz

Fighting inflation doesn’t directly cause unemployment – but that's still the most likely outcome

You may have seen the news: in its attempts to tackle inflation, the Reserve Bank is going to increase unemployment. The idea can even seem to come right from the mouths of experts, including the bank’s governor, Adrian Orr. Speaking recently to an industry conference, he said:

The Conversation

Australia hopes to change climate reputation at COP27

A new government hopes to transform Australia’s reputation into a climate leader at COP27. But there’s a lot of damage to unpick, says Robyn Eckersley in part two of a series on COP27

Newsroom.co.nz

Paid maternity leave offers 'little benefit' to community, Queensland's Mareeba Shire Council says

Staff at a Queensland council will retain the right to maternity leave after a full bench of the industrial commission's ruled in the union's favour.

ABC News

Health sector pushes for certainty on establishment of an Australian Centre for Disease Control

Medical groups ‘optimistic’ as October budget commits to initial consultation but urge Labor to provide greater detail and more resources

The Guardian - AU

Health service will be brought to its knees this winter by respiratory illnesses, Sligo consultant warns

“From this time of year onwards, we tend to see increases in respiratory illness"

Irish Mirror

Who is really to blame for British aid not reaching poorer countries?

Letter: OECD rules exaggerate donors’ generosity and leave developing nations paying for the climate crisis, says Steve Cutts

The Guardian - UK

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360info

Australia hopes to change climate reputation at COP27

A new government hopes to transform Australia’s reputation into a climate leader at COP27. But there’s a lot of damage to unpick.

The Guardian - UK

F1 faces legal challenge over Bahrain contract and sportswashing

Formula One faces a legal complaint accusing it of breaching OECD guidelines after the sport concluded a deal this year extending its contract to hold races in Bahrain until 2036

The Guardian - AU

Foreign aid gets $1.4bn budget boost but Australia still among least generous in OECD

Aid sector welcomes Albanese government’s commitment but says country ‘can and must do better’

The Conversation

Everything you need to know about Labor's first budget in 6 charts

This Budget makes hard decisions for hard times.

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The Conversation

‘The beginning of something new’: how the 2022-23 budget does things differently

Treasurer Jim Chalmers told reporters on Tuesday his first budget was “the beginning of something new and responsible”.

Newsroom.co.nz

In fairness to New Zealand’s tax and transfer system

Dodgy statistical work to generate headlines supporting higher taxation risks eroding the credibility of Oxfam’s aid work.

ABC News

Singapore has among the world's best education systems, so what can Australia learn from it?

Disruptions from COVID-19 and the recent Victorian floods have some experts calling for changes in Australian schools. They say Singapore's flexible education system could be a model to better prepare students to engage in quality learning during times of crisis.

The Conversation

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.

Wales Online

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'

The Independent UK

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’.

Asharq Al-Awsat

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…

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