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The Latest Breaking News from Economy

Scott Bessent Says Democrats Wanted To Stop Trump Agenda At Any Cost: 'The Shutdown Was Never About Healthcare'

Treasury Secretary Scott Bessent on Wednesday accused Democrats of engineering the record U.S. government shutdown to damage President Donald Trump politically, arguing the fight was "never about healthcare" and predicting the economy will roar back once Washington reopens for business.

Benzinga

'The tariffs are a big tax increase': Top bank crunches the numbers on how much Americans are paying for Trump's trade regime

"A decent chunk of the economy is in recession," according to UBS economists.

Fortune

Fed 'Flying Blind' As Shutdown Erases October Jobs, Inflation Reports

The longest government shutdown in U.S. history is set to end within hours—but it's already left a lasting scar on the economy's data map since two of the most vital inputs for the Federal Reserve won't be released.

Benzinga

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EU and Indian navies take over ship used by Somali pirates to seize Malta-flagged tanker

Somali piracy in the region cost the world’s economy €6 billion in 2011, with €138 million paid out in ransoms, according to the Oceans Beyond Piracy monitoring group.

Euronews

4 Stocks To Consider Buying As Luxury Spending Keeps Rising

By now, you've likely heard the theory of the K-shaped economy in the United States. Unlike a V-shaped economy, where all boats are lifted, a K-shaped economy has one group prospering while another sinks.

Benzinga

Economic growth predicted to have slowed in third quarter

Experts have predicted that the Office for National Statistics will report 0.2% growth over the three months to September.

Evening Standard

Robert Kiyosaki Says He's Never Been Fired Because He's 'An Entrepreneur, Not An Employee'

“Rich Dad Poor Dad” author Robert Kiyosaki is doubling down on his message that being an entrepreneur is the safest path in today's unstable economy.

Benzinga

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7 Obsolete Job Skills That Defined the ’80s Workforce

The workplace during the 1980s operated under entirely different conditions than modern workplaces do today. The office space was equipped with fax machines that emitted constant buzzing noises, while secretaries worked with fast electric typewriters. Paper-based work tasks were assigned to specific departments. Many staff members dedicated their professional lives…

The Free Financial Advisor

Fed Governor Michael Barr Says 'AI Is A Big Deal' That Could 'Transform Economies' And Affect Monetary Policy

Federal Reserve Governor Michael Barr discussed two potential scenarios of the AI revolution and its impact on the economy.

Benzinga

"A pivotal moment for the UK music industry": UK music generated a record £8bn for the economy in 2024, but challenges from AI and Brexit remain

2024 saw tours from the likes of Taylor Swift and big releases like Charli XCX's Brat

MusicRadar

Visa Launches Stablecoin Payouts For The Gig Economy As Traders Eye $343

Visa Inc. (NYSE:V) is shaking up digital payments with a new pilot program that lets creators, freelancers, and gig workers receive instant USDC stablecoin payouts through Visa Direct.

Benzinga

The best used hybrid SUVs you can buy for less than $25,000

Car shoppers love SUVs because of their commanding view of the road, generous amounts of passenger space, and roomy cargo holds

The Independent UK

Hopes for a December rate cut are fading fast despite labor fears—Jerome Powell will have his work cut out attempting to unite the Fed

Weaker labor market data should be building the case for Powell to post a cut—and yet expectations are leaning toward the hawkish.

Fortune

UK Music Contributes £8 Billion to GDP and Creates 220,000 Jobs in 2024

The UK music industry contributed £8 billion to the economy in 2024, supporting 220,000 jobs. Despite strong figures, challenges threaten future growth.

International Business Times UK

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Fortune

How CEOs are navigating the global economy's 'frog-boiling' conditions

Also: All the news and watercooler chat from Fortune.

Euronews

Google bets €5.5 billion on Germany’s AI future

The tech giant is making its biggest European investment yet and ensuring it dominates AI-related technologies in the continent's biggest economy.

The Guardian - UK

Wednesday briefing: Why young people are bearing the brunt of the unemployment crisis

In today’s newsletter: Almost 1.8 million people in the UK class themselves as unemployed, and it’s the youth who are driving it. What can be done to help, and will things get better (or worse)?

AAP

Food delivery service set to cease after Menulog off

It once thrived under a "Did Somebody Say" campaign but the celebrity driven catch-cry hasn't saved food delivery service Menulog from closure.

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The Guardian - AU

Ukraine war briefing: Top banker’s straight talk to Putin over troubled economy

Sberbank head German Gref gives unusually frank assessment; Zaporizhzhia situation has ‘significantly worsened’, says Syrskyi. What we know on day 1,358

The Guardian - UK

British music industry adds record £8bn to UK economy, according to UK Music

Taylor Swift’s Eras tour among the big events driving spending, as British artists perform well overseas and job numbers rise

The Guardian - UK

‘Part of the joy economy’: bumper year for UK toys as Wicked dolls and Pokémon appeal to ‘kidults’

Some of this year’s Christmas must-haves also expected to appeal to older generations

GOBankingRates

5 Economic Shifts To Expect Before 2025 Ends, According to Jaspreet Singh

Learn how they might affect Americans and the global economy.

The Mary Sue

‘Gaslight us into extinction’: Trump shamelessly dismisses the affordability crisis and claims ‘we’ve the greatest economy we’ve ever had’

As prices keep climbing and sentiment keeps sinking, Donald Trump rewrote reality in his latest Fox interview. The grocery aisles say one thing about the economy, but his teleprompter says another. Guess who he thinks is correct?

Fortune

Trump calls his 50-year mortgage idea 'not even a big deal' while insisting 'the economy is the strongest it's ever been'

"It might help a little bit," Trump said of the 50-year mortgage plan, which has no details attached yet. His housing director called it a "game-changer."

The Conversation

Bad wealth made good: how to tackle Britain’s twin faultlines of low growth and rising inequality

In the run-up to the 2024 election, future prime minister Keir Starmer labelled wealth creation Labour’s number one mission. “It’s the only way our country can go forward,” he declared. “We should nourish and encourage that – not just individuals but businesses.”

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