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The Latest Breaking News from OECD

Price spikes continue, with oil up and OECD forecasting highest inflation since 1988

Markets globally are in the red as the world faces continuing inflation and the likelihood it will be tackled with rising interest rates. The ASX finishes down again.

ABC News

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

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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

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

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

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

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).

Newcastle Herald

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

The Independent UK

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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

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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

The Guardian - UK

‘Historic’ global tax deal on multinationals delayed until 2024

Some doubt the OECD-brokered agreement, which would levy more tax on the world’s largest firms, will ever be implemented

Reuters

OECD chief sees global digital tax deal pushed back to 2024

The Organisation for Economic Cooperation and Development (OECD) on Tuesday acknowledged for the first time that a global digital tax deal may take a year longer to implement.

ABC News

Whether it was climate, integrity or the economy, no topic was safe from political spin in the 2022 election campaign. Here are the facts

Politicians were spinning hard for Australian's votes during the 2022 election. So who got their facts straight, and who missed the mark?

The Guardian - AU

Australia’s greenhouse pollution from coal higher per person than any other developed country, data shows

Despite the growth of renewable energy, Australia’s per capita coal emissions of 4.04 tonnes of CO2 a year is nearly four times the global average

The Guardian - AU

Gas industry and Coalition reach for a get-out-of-catastrophe-free card in climate crisis Monopoly

Carbon capture and storage isn’t working close to a scale that would significantly lower emissions – despite billions in taxpayers’ cash thrown at it

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