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The Latest Breaking News from Economy

The surprise state topping Australia's economic ladder

South Australia has retained its title as the nation's top economy for the third consecutive time in CommSec's latest State of the States report.

AAP

Bank of England set to rain on hopes of interest rate cut after economic bounce

This week’s Bank meeting is unlikely to bring borrowers any joy amid a strong recovery from 2023’s mild recession

The Guardian - UK

Rayner to set out overhaul of planning rules to clear path for new social housing

Angela Rayner has said the planning system should be a ‘launchpad’ rather than a millstone ahead of setting out changes next week

The Independent UK

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Rachel Reeves to unveil ‘broke Britain’ dossier as Jeremy Hunt hits back with tax ‘scam’ claim

Rachel Reeves is expected to tell parliament that Rishi Sunak’s party left a £20bn black hole in the public finances, including making ‘significant funding commitments’ this year with no idea how they would be paid for

The Independent UK

How bad are Britain’s finances? Key questions and answers on the state of the economy

Several factors restrict the Labour government’s room for manoeuvre in its agenda for growth, writes Phillip Inman

The Guardian - UK

Rachel Reeves to delay some of Tories’ ‘unfunded’ road and hospital projects

Chancellor attempts to plug £20bn hole in spending but will commit to above-inflation public sector pay rise

The Guardian - UK

G20 Seeks Common Ground On Taxing Super-rich

G20 finance ministers are expected to take a first step towards international cooperation on taxing the super-rich Friday, with a deal in Brazil likely to call for individual nations to strengthen their own measures, rather than delivering a set of unified regulations.

International Business Times

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Millions of UK public sector workers set for above-inflation pay rise

Rachel Reeves is expected to accept pay review body recommendations in move that could cost up to £10bn

The Guardian - UK

Russia Raises Key Rate To 18% To Curb Inflation

Russia's Central Bank raises key lending rate to 18.00% to combat inflation amid sanctions and overheated economy.

Top News

Fed Expected To Cut Interest Rates As Inflation Cools

Latest data shows low inflation, potential interest rate cuts by the Fed, and steady economic growth in the U.S.

Top News

Fed's preferred inflation gauge cools, adding to likelihood of a September rate cut

The Federal Reserve’s favored inflation measure remained low last month, bolstering evidence that price pressures are steadily cooling and setting the stage for the Fed to begin cutting interest rates this fall

The Independent UK

FactCheck updates how the US has performed under Biden - Roll Call

From FactCheck.org: how the U.S. has fared under Joe Biden under a broad array of measurements, including economics and immigration.

Roll Call

Sri Lanka presidential election set for September 21 amid ailing economy

President Wickremesinghe is first candidate to register at the Election Commission as he seeks mandate from voters.

Al Jazeera

Green economy could generate 3.3m jobs across Africa by 2030 – report

Policymakers and funders are being urged to invest in training a workforce to serve the industries of the future

The Guardian - UK

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Fortune

Even September may be too late for a rate cut to swing the U.S. economy out of a recession, warns former Fed president

"Although it might already be too late to fend off a recession by cutting rates, dawdling now unnecessarily increases the risk."

The Independent UK

Stock market today: Asian shares mostly advance after Wall St comeback from worst loss since 2022

Shares are mostly higher in Asia after Wall Street made a comeback from its worst loss since 2022

International Business Times

Asian Markets Battle To Recover From Tech Rout After US Data

Asian traders struggled to fight back Friday after a tech-fuelled sell-off, taking heart from forecast-beating US growth data that reassured that the economy was still in rude health, but did not dent hopes for an interest rate cut.

The Conversation

Declining PhD student numbers are a warning sign for NZ’s future knowledge economy

The decline in the number of doctoral candidates at New Zealand universities is a worrying sign for the country’s effort to build a knowledge-based economy.

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The Canberra Times

Greens say all Canberra households can have food waste bins sooner

The plan relies on a network of decentralised composting.

Evening Standard

'Soho rolling up pavements at 11pm': London night economy underperforming as venues grapple with rising costs

Tourists ‘looking for places to spend money’ are left disappointed, Soho Business Alliance warns

The Conversation

Kenya’s new cabinet: finance minister faces an uphill battle against corruption, unemployment and debt

Kenya faces difficult times ahead because of pressure to pay debts, create jobs for the youth, offer improved services to citizens and uproot entrenched corruption.

Barchart

Stocks Stabilize on Reduced Fears About A Weaker Economy

The S&P 500 Index ($SPX ) (SPY ) today is down -0.23%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.47%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.86%. US stocks are mixed today following Wednesday's plunge, when the S&P 500 index fell...

Top News

US GDP Growth Surges To 2.8% In Latest Report

US economy shows signs of a 'soft landing' as GDP growth exceeds expectations. Inflation and wage growth slowing down, with debates on potential shifts in ...

Top News

Economy Surges In Second Quarter, Potential Interest Rate Cut

U.S. economy shows 2.8% GDP growth in Q2 driven by consumer and business spending, but concerns arise over high borrowing costs and low savings rates.

International Business Times

US Economy Beats Growth Expectations In Second Quarter

US economic growth blew past expectations in the second quarter, boosted by consumer spending and inventory building despite high interest rates, government data showed Thursday, after a slow start to the year.

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