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The Latest Breaking News from Economy

German Economy Shrinks Again Amid Political Crisis

Germany's economy shrank for a second straight year in 2024, official figures showed Wednesday, with little hope of a speedy recovery as Europe's traditional powerhouse is also mired in political crisis.

International Business Times

Germany's economy shrank for the second consecutive year in 2024

Preliminary official figures show that the German economy shrank for the second consecutive year in 2024

The Independent UK

China's Economy Seen Slowing Further In 2024: AFP Survey

China's economic growth likely fell fractionally short of the government's five percent target last year, according to an AFP survey, as leaders head into 2025 steeling for the second presidency of Donald Trump amid fears of another painful trade standoff.

International Business Times

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Renewed US Trade War Threatens China's 'Lifeline'

China might not be able to rely on trade to steer it out of trouble as blistering tariffs being considered by US President-elect Donald Trump threaten an already struggling economy.

International Business Times

Americans Overwhelmingly Support Stricter Fuel-Economy Standards: Study

Polarization may be the buzzword lately, but when it comes to improving fuel economy, Americans appear to be united. Across party lines, they agree: Fuel economy standards should keep improving to reduce car ownership costs.

InsideEVs

After ‘historic’ investment in chips and data centers, can Malaysia maintain its optimism in the age of Trump 2.0?

"We are no longer satisfied with playing the spectator."

Fortune

UK Industries Brace For £2.5B Blow From Trump's Tariff Threats: Which Sectors Are At Risk?

President Donald Trump's plan to defend the US economy with a wall of tariffs could cost British businesses £2.5 billion per year, analysts have predicted.

International Business Times UK

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Gen Z is buying into the dupe economy

Younger shoppers are embracing less expensive versions of designer brands

Salon

December inflation set to stay at 2.6% in ‘reprieve’ for UK economy

The rate of Consumer Prices Index (CPI) inflation is expected to have come in at 2.6% last month, unchanged from November.

Evening Standard

US To Ban Smart Cars Containing Chinese Tech

The United States finalized a rule Tuesday effectively barring Chinese technology from cars in the American market, taking aim at software and hardware from the world's second biggest economy over national security risks.

International Business Times

Rachel Reeves faces questions over future in Hamlet-inspired Tory attack

The Chancellor insisted leadership is ‘not about ducking these challenges’ as she defended her handling of the economy.

Evening Standard

Rachel Reeves: From child chess champion to ‘iron’ Chancellor

She became Britain’s first female Chancellor in July against a daunting backdrop of a sluggish economy and competing demands for public spending.

Evening Standard

The Trump Economy And Federal Reserve Rate Outlook: Four Scenarios

Fed chief Jerome Powell has said "policy uncertainty" under Donald Trump clouds the Federal Reserve rate outlook.

Investors Business Daily

UK Finance Minister Under Pressure To Restore Market Confidence

Britain's finance minister Rachel Reeves is expected to address parliament Tuesday to try and regain the confidence of markets in the face of rising pressure over the country's struggling economy.

International Business Times

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The Guardian - UK

UK politics: Starmer says ‘door remains open’ for Tulip Siddiq following her resignation as Treasury minister – as it happened

PM appoints Emma Reynolds as her replacement as Siddiq steps down but implies she could return to government in future

Al Jazeera

Australia’s economy was the envy of the world. Now it’s falling behind

After record-breaking streak of growth, Australia is lagging behind its peers amid cost-of-living and productivity woes.

International Business Times

Asian Markets Mixed As Traders Eye US Inflation Data, Earnings

Asian markets diverged Tuesday as bargain buying after recent losses played against ongoing worries about the outlook for the global economy and the impact of a second Donald Trump presidency.

The Guardian - UK

No 10 backs Rachel Reeves to remain in post for rest of parliament

Keir Starmer offers support to underfire chancellor after bruising start to new year

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Roll Call

Joe Biden's legacy: How a recent trip embodied his shaky term

The president had some legislative wins, but a number of missteps hamstrung his term. One recent trip summed up his four years in office.

AAP

Upgraded NBN could compete with Elon Musk's Starlink

Australia must expand its network if it wants to compete with Elon Musk's offering and provide affordable, reliable internet to the regions, an expert says.

The Independent UK

Downing Street insists Rachel Reeves will be chancellor ‘for whole of this parliament’

The prime minister told an audience in east London that he is ‘completely confident’ in his team as pressure grows over the economy

Evening Standard

UK will be ‘AI superpower’, says Starmer as he unveils plans to boost growth

The Prime Minister said the changes would help revolutionise creaking public services and turn around Britain’s economy.

The Conversation

One way Trump could help revive rural America’s economies

Picture yourself living the American Dream. You likely have more opportunity than your parents did. Through hard work, smart choices and perhaps some good luck along the way, you have financial stability and a great deal of freedom to choose your next steps in life.

The Guardian - UK

Keir Starmer says Treasury will be ruthless on public spending cuts

Chancellor’s tough approach to public spending ‘absolutely right’, says PM after cost of government borrowing rose

Al Jazeera

Russia ‘prepared for any scenario’ on Ukraine war as Trump presidency nears

The US president-elect has promised to end the conflict in Ukraine but the Kremlin has not endorsed any tentative plans.

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