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The Latest Breaking News from Economy

Unemployment’s up, house prices are stagnating. But is the Victorian economy doing as badly as it seems?

The early 1990s in Victoria were tough. The economy was contracting severely, the population was shrinking, employment was collapsing and the unemployment rate skyrocketed to the highest in the land.

The Conversation

Scotland's mountain paths 'desperate' for funding post-Brexit, say campaigners

SCOTLAND’s deteriorating mountain paths are in “desperate” need of sustainable funding they have been starved of post-Brexit, a campaigner has…

The National (Scotland)

Putin calls for alternative international payment system at Brics summit

Russian president’s goal to de-dollarize world economy alarms members that do not want bloc to turn against west

The Guardian - UK

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Chancellor Scholz leads delegation to India seeking to reduce German reliance on China

German Chancellor Olaf Scholz is leading a high-level delegation to New Delhi this week, betting that greater access to the vast Indian market can reduce Germany's reliance on Beijing even if India does not turn out to be the 'new China'.

Radio France Internationale

3 Consumer Discretionary Stocks Breaking Out This Quarter

As the U.S. economy showcases resilience amid evolving inflation trends and shifting interest rates, fundamentally solid consumer discretionary stocks eBay (EBAY), PulteGroup (PHM), and Expedia (EXPE) might be solid buys this quarter. Read on.

StockNews.com

South Africa’s massive Sasol petrochemical plant faces serious challenges – new report

The giant Secunda complex of Sasol, South Africa’s biggest chemicals and energy company, provides the fundamental ingredients to South Africa’s petrochemical sector. It produces petrochemicals, plastics, chemicals essential to key industries such as agriculture (fertilisers) and mining (explosives), and 30% of the country’s liquid fuels. These value chains are very…

The Conversation

Nevada's Immigrant Labor Force at the Center of the 2024 Election Debate

As immigration policies divide voters, Nevada's economy, dependent on immigrant labor, highlights the complexities of immigration ahead of the election.

Latin Times

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Asian stocks are mixed following a quiet day on Wall Street

Asian stocks are mixed under pressure from a rising U.S. dollar and the uncertainties over the U.S. election

The Independent UK

Rising sea levels to hit economy like a lockdown wave

The economic impact of rising sea levels would be in the hundreds of billions of dollars for Victoria without proper action, a state inquiry has been told.

AAP

Fortune 500 Europe: How Germany is flirting with long-term irrelevance

Everything that could go wrong has gone wrong for Germany’s economy. How can it turn things around?

Fortune

Let’s tax carbon: Ross Garnaut on why the time is right for a second shot at carbon pricing

Australia now has a government and parliament wanting timely transition to net zero. We have a government and parliament wanting to build Australia as the renewable energy superpower of the zero-carbon world economy. For the time being, we have favourable international settings for using our opportunity.

The Conversation

A UN report says it could take 350 years for Gaza to rebuild if it remains under a blockade

U.N. agencies have long warned that it could take decades to rebuild Gaza after Israel’s offensive against Hamas

The Independent UK

‘Utter ruin’: Gaza economy would take 350 years to return to pre-conflict level, UN says

Report says ‘intense military operations in Gaza have left unprecedented humanitarian, environmental and social catastrophe’

The Guardian - UK

FTSE 100 regains most of its losses after early falls

The UK’s top stock index recovered later in the day after improved predictions for the UK economy by the International Monetary Fund.

Evening Standard

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International Business Times

IMF Predicts Slightly Slower Global Growth In 2024 And 2025

Global growth is expected to ease slightly to 3.2 percent this year and remain at that level in 2025, the IMF announced Tuesday, while warning that the stable figures masked "important" regional and sectoral shifts.

The Conversation

End of coal in South Africa: what 100,000 workers will need when their jobs go

South Africa’s move to renewable energy means that the coal industry will be phased out over the coming decades. This transition away from a fossil-fuel based economy will affect over 100,000 workers in coal mining and coal-fired power generation – and their families. Economics professor and director of the Development…

Evening Standard

Budget 2024: Boost for Labour Chancellor Rachel Reeves as IMF ramps up economic growth forecast for Britain

The leading economists increased their prediction for GDP growth in the UK in 2024 from 0.7 per cent to 1.1 per cent

The Independent UK

IMF's economic view: A brighter outlook for US but still-tepid global growth

The International Monetary Fund has upgraded its economic outlook for the United States this year, while lowering its expectations for growth in Europe and China

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The Independent UK

UK economy to grow faster than thought in pre-Budget boost for Reeves

Only Spain was given a bigger economic upgrade by the IMF, making the UK the biggest beneficiary for extra growth in the G7 – although the US’s new growth rate of 2.8 per cent is higher

The Independent UK

Air Passenger Duty may go up in Reeves’s Budget – could the ‘Inverness Immunity’ come to an end?

Plane Talk: Why it’s not always a good idea to tax the traveller until the pips squeak

The Guardian - UK

IMF warns Trump trade tariffs could dent global economy as it upgrades UK outlook

New report upgrades outlook for UK economy with growth now forecast at 1.1% rather than 0.7%

Evening Standard

IMF upgrades UK economic growth as elections drive global uncertainty

It came as the financial agency held its forecasts for the global economy steady for 2024, with a slight downgrade for next year.

The Conversation

How finance can be part of the solution to the world’s biodiversity crisis

More than half of the world’s total GDP is at least moderately dependent on nature. Yet arguably, there is no economy (or life) without nature. A quarter of animal and planet species are now threatened, and 14 out of 18 key ecosystem services – including fertile soils to grow food,…

The Independent UK

Yellen says isolationism 'made America and the world worse off' in speech to global finance leaders

Treasury Secretary Janet Yellen is telling world financial leaders that the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S. election

International Business Times

Four Fed Policymakers Back Further Rate Cuts But Differ In Pacing

Four Fed policymakers support rate cuts but differ on the pace that it would be implemented.

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