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The Latest Breaking News on Economy

The budget reveals what governments actually care about. And Labor has chosen to keep jobseekers in poverty

The government could easily index jobseeker to whichever is highest of the CPI or wage price index

The Guardian - AU

US Private Sector Job Growth Higher Than Expected: ADP

Hiring in the US private sector cooled in April but job growth was still higher than anticipated, boosted by the services sector, payroll firm ADP said Wednesday.

International Business Times

What is the significance of Labour Day or May Day? | Explained

The Hindu decodes the history of Labour Day and why it is celebrated worldwide.

The Hindu

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Asian Markets Track Wall St Down Ahead Of Fed Decision

Asian stocks sank in holiday-thinned trade Wednesday, tracking a sharp sell-off on Wall Street after fresh US data dealt another blow to hopes the Federal Reserve will cut interest rates this year.

International Business Times

Towards a green growth: On the RBI and a green taxonomy

The effort should be to mitigate the transitional risks to the financial system as the economy moves towards a sustainable future

The Hindu

Borrowers warned not to count on 2024 rates relief

Hotter-than-expected inflation data has likely pushed back the start date for interest rate cuts, a move that will keep pressure on mortgage holder budgets.

AAP

German Forecast To Offer Signs If Ailing Economy On The Mend

The German government will present its latest growth forecasts on Wednesday as Europe's crisis-hit top economy shows tentative signs it is finally turning a corner.

International Business Times

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Election-bound Tamil Nadu among top States in many socio-economic measures: Data

Analysis of Tamil Nadu's economic, social, and environmental indicators reveals holistic development, with focus needed on sustainable growth.

The Hindu

Treasurer admits 'difficult' budget ahead for Qld

The Queensland government will maintain its commitment to cost-of-living relief for households despite the treasurer warning of a difficult budget ahead.

AAP

Budget surplus 'still our goal' despite war, inflation

A budget surplus is "still our goal" but the degree of difficulty has risen with global economic uncertainty hitting tax revenue, Treasurer Jim Chalmers says.

AAP

Economists 'can safely say' recession is over after February GDP rise, but growth still slow

The meagre growth, not helped by torrential rain that hammered the construction sector, marks a slowdown from a 0.3% advance in January

Evening Standard

Whether Australia’s budget has a surplus tells us little about the government’s worth – it’s all on the choices made

Do you direct the recourses of the economy on things that produce good outcomes for Australians, or spend $4.6bn to improve the UK economy?

The Guardian - AU

Conservatism’s biggest failure is the despair it has created about Britain’s future

Fantasies about British exceptionalism have brought the UK to the brink of collapse. We need a new, realistic vision, says author and journalist Will Hutton

The Guardian - UK

Former Jharkhand CM Hemant Soren withdraws from Supreme Court his plea against HC order

Former Jharkhand CM Hemant Soren withdraws plea challenging high court order, remains under judicial custody for money laundering case.

The Hindu

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The Guardian - UK

Why UK recession may be deeper than two quarters of falling GDP suggest

Greater fall per head and latest trade data illustrate longer term decline of economy

The Hindu

Wages of Indian workers have remained almost same in last 10 years: Data

A report by Bahutva Karnataka shows that the share of self-employed workers increased, while the share of those in formal employment remained low

Top News

House To Vote On Critical Government Spending Legislation

House prepares for crucial vote on government spending legislation to avert shutdown. Bipartisan cooperation needed for timely approval.

Kiplinger

Fed Again Holds Interest Rates Steady

Inflation has eased over the last year but remains elevated, the central bank says.

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The Guardian - AU

Now is not the time to do anything more to slow the economy – it’s already in danger of stalling

The Sahm rule lets us get in front of recessions – so alerts should be flashing in the Treasury and RBA

AAP

NSW ups fight for GST amid move to 'wellbeing' budget

Premier Chris Minns has vowed to push to overhaul a "broken" GST distribution system as his government prepares for a budget focusing on more than the economy.

International Business Times

US Fed To Provide Fresh Clues On Rate Cuts After Uptick In Inflation

The US Federal Reserve is widely expected to keep its key lending rate unchanged again on Wednesday, as policymakers continue discussions over when to start rate cuts and launch the next phase in their long-running battle against inflation.

International Business Times

Eyes On Bank Of Japan As Unions Announce Wage Hikes

The results of key wage hike negotiations in Japan will be announced Friday, with a win for workers expected to set the stage for a hotly anticipated shift away from the central bank's ultra-loose monetary policy.

Evening Standard

OPINION - All models are wrong (except the Office for Budget Responsibility's Brexit forecasts)

"All models," the British statistician George Box observed, "are wrong, but some are useful." To which we now turn to the Office for Budget Responsibility, whose Brexit forecasts seem to be holding up remarkably well.

The Guardian - AU

Second surplus on track for Australia but budget will report a fall in revenue, treasurer says

Jim Chalmers says slide in iron ore prices and uptick in jobless rate mean budget will report a much smaller revenue upgrade than in recent years

AAP

Investment expert warns prices 'rollercoaster' possible

Unwinding pandemic effects will cause inflation to fall quickly, a key investment strategist expects, before supply shocks keep it higher over the long term.

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