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The Latest Breaking News from Economy

UK mortgage approvals hit six-month low; pandemic recovery faster than expected – as it happened

Updated GDP figures show UK recovering faster from pandemic than Germany or France, but mortgage approvals have fallen

The Guardian - UK

UK economy larger than thought, updated 2023 GDP figures confirm, with Q1 revised upwards

The ONS had already revised the UK’s GDP for 2021 dramatically upwards, so an unchanged growth rate means a larger economy than first thought

Evening Standard

Rishi Sunak set to preside over biggest tax-raising parliament on record, say experts

By the time of the next general election, taxes will likely have risen to around 37% of national income, according to analysis by the IFS

Evening Standard

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Millions take to China's railways, roads, air in 1st big autumn holiday since end of zero-COVID

Many millions of Chinese tourists are expected to travel within their country, splurging on hotels, tours, attractions and meals in a boost to the economy during the 8-day autumn holiday period that began Friday

The Independent UK

Sunak set to preside over biggest set of tax rises since WWII, experts say

By the time of next general election, taxes will likely have risen to around 37% of national income

The Independent UK

Ashwin in, Axar out: What India's World Cup squad change means for Rohit Sharma's Men in Blue

NEW DELHI: The Rohit Sharma-led Indian team for the upcoming ICC ODI World Cup made just one change to its provisional 15-member squad on the last day of final submission to the International Cricket Council (ICC) on Thursday. Veteran spinner Ravichandran Ashwin was included in place of Axar Patel, who…

The Times of India

Immigration worries hit six-year high as pensioners and Tories express concern

The economy remains the number one issue in the UK, but worries about inflation appear to have eased.

The Independent UK

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Sunak set to preside over biggest tax-raising parliament on record, say experts

By the time of the next general election, taxes will likely have risen to around 37% of national income, according to analysis by the IFS.

The Independent UK

Interest rates: Monetary policy is always political as central banks opt to back the financial sector

As the Bank of Canada prepared to announce its decision on interest rates in early September, Tiff Macklem, the bank’s governor, received imploring letters from premiers spanning both the country and the political spectrum.

The Conversation

Federal childcare funding is about to expire–and it could be terrible for the U.S. economy

The loss in taxes and revenue from closed programs could cost states $10.6 billion in economic activity–and cost families $9 billion in lost earnings.

Fortune

Deutsche Bank studied 34 past U.S. recessions to identify key warning signs and found that all 4 are flashing red right now

Based on a study of the U.S. economy since 1854, Deutsche Bank created “hit ratios” that show how often key macroeconomic triggers have caused recessions.

Fortune

Punished Ewing will ‘consider’ rejoining SNP group at Holyrood after suspension

SNP MSPs voted to suspend the former rural economy secretary for seven days.

The Independent UK

US government estimates last quarter's economic growth was 2.1%, unchanged from previous estimate

The U.S. economy grew at a 2.1% annual pace from April through June, extending its sturdy performance in the face of higher interest rates, the government said Thursday, leaving its previous estimate unchanged

The Independent UK

The Reserve Bank shouldn’t be spooked by Australia’s imported inflation

If you look at what’s increased most in price over the past year, such as petrol, there is little that higher interest rates would change

The Guardian - AU

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Zenger

Guyana’s Economy Set To Double In Size, Driven By Booming Oil Industry

Fastest-growing nation poised for explosive growth as oil production surges and non-oil sectors see investments

Fortune

The economist who’s been predicting a recession for 18 months says the ‘litmus test’ is finally here, especially with oil headed toward $100 a barrel

David Rosenberg said the current situation with the economy is like trying to cancel winter just because it didn’t snow in December. “It hasn’t materialized, dot dot dot, yet.”

The Conversation

Gabor Maté claims trauma contributes to everything: from cancer to ADHD. But what does the evidence say?

Our health consumes a growing share of our economy and our attention, but we are not in great shape. Even as a ruinous pandemic subsides, epidemics of chronic disease, obesity, addiction and mental illness continue. Systems of care strain to cope and many of us engage in an anxious and…

Fortune

I have seen Ukraine’s future–a phoenix nation destined to prosper

'Ukraine will not be a basket case trapped in a forever war. Instead, it will be the world’s breadbasket, a beacon of culture, and a leader in technology.'

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news in one place.

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Salon

What is nanocellulose?

"Demand for nanocellulose is growing worldwide"

The Guardian - AU

Anthony Albanese to accelerate transition to low emissions after voice referendum

Exclusive: PM says ‘right decisions’ are needed to ensure Australia emerges a winner in the global race to renewable energy

The Conversation

Somali piracy, once an unsolvable security threat, has almost completely stopped. Here's why

In 2011, pirates carried out 212 attacks in a vast area spanning Somali waters, the Indian Ocean, the Red Sea and the Gulf of Aden, actions that the World Bank said cost the world economy US$18 billion a year.

Fortune

The U.S. economy has always shrugged off government shutdowns–but that might stop being the case if they become the new normal

Past government shutdowns barely made a dent in the U.S. economy–but real risk arises if hardball negotiating tactics become routine in Congress.

The Conversation

Why central banks should stop raising interest rates

Mortgage borrowers breathed a sign of relief following a recent pause in the Bank of England’s 14-month campaign of base rate hikes.

Fortune

How Detroit and JPMorgan Chase teamed up to tackle the city's economic woes

Detroit's unemployment, housing, and economy are trending in the right direction, and JPMorgan Chase has been a big part of the turnaround.

Zenger

Bangladesh Joins Digital Cooperation Organization To Boost Digital Economy

Bangladesh becomes a member state, strengthening initiatives for digital empowerment and inclusive growth.

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