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The Latest Breaking News from GDP

US urges Australia to increase defence spending to 3.5% of GDP

PM Albanese says government already increasing spending and decisions will be based on defence capability needs.

Al Jazeera

Keir Starmer vows to make Britain ‘battle-ready’ as he unveils defence spending plans

PM promises to spend billions more on weapons factories, drones and submarines but refuses to set date for spending 3% of GDP on defence

The Guardian - UK

Albanese again pushes back on US demand for Australia to increase defence spending to 3.5% of GDP

US defense secretary Pete Hegseth calls for Australia to boost annual military spend by tens of billions ‘as soon as possible’

The Guardian - AU

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'Read the room': SNP criticise Labour's plans to increase defence spending

THE SNP have criticised Labour’s Defence Secretary John Healey’s comments, where he said there was “no doubt” that the UK Government would…

The National (Scotland)

Britain will 'without a doubt' spend £10 billion extra on defence, says Labour

LABOUR’S Defence Secretary John Healey said spending 3 of GDP on defence was no longer an “ambition” but a certainty ...

The National (Scotland)

Growing geopolitical uncertainty casts shadow over UK defence review

Paper is likely to run into two difficulties, people and money, as personnel numbers fall and spending rises

The Guardian - UK

UK on track to spend 3% of GDP on defence by 2034, says Healey

The Defence Secretary has promised a ‘certain decade of rising defence spending’.

Evening Standard

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Labour pledges huge increase in defence spending after pressure from Trump

Defence secretary John Healey has promised a ‘certain decade of rising defence spending’ after the US President cast doubt on his willingness to defend Nato countries if they do not pay more

The Independent UK

Inside India’s shadow wealth: Just 3 lakh crorepatis in a nation of 1.4 billion

India’s wealthy elite love their cash – not just for convenience, but for what it hides. Despite a surge in digital payments, stacks of unaccounted currency still fuel real estate deals and many economic activities in the informal part of the economy, leading to tax dodging and funding of election…

Newslaundry

US economy falls 0.2% in the first quarter, hit by Trump's trade war

First-quarter growth was brought down by a surge in imports as companies in the United States hurried to bring in foreign goods before the president imposed massive import taxes.

Euronews

India’s FDI story is a mirage and the numbers prove it

Late last week multiple news outlets reported that in 2024-25, gross foreign direct investment (FDI) into India hit $81 billion, up nearly 14 percent from the previous year – a stat that made headlines.

Newslaundry

Hit by Trump trade wars, U.S. economy falls 0.2% in first quarter, an upgrade from initial estimate

The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business, the government said Thursday in a slight upgrade of its initial estimate

The Independent UK

Stock Index Futures Rally on Tariff Ruling and Upbeat Nvidia Earnings, U.S. GDP Data and Fed Speak on Tap

June S&P 500 E-Mini futures (ESM25) are up +1.57%, and June Nasdaq 100 E-Mini futures (NQM25) are up +1.96% this morning as risk sentiment improved following upbeat earnings from Nvidia and after a federal trade court struck down U.S. President Donald Trump’s sweeping tariffs.

Barchart

Kate Forbes demands Westminster action as Scotland's economy shrinks

Scotland’s economy shrank in both February and March, figures show – although GDP as a whole increased over the first three months of 2025.

The National (Scotland)

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The Conversation

Nobel laureate Brian Schmidt is ‘scared’ about Australia’s research capacity – this is why

On Wednesday, Nobel laureate Brian Schmidt and economics professor Richard Holden gave a joint address to the National Press Club in Canberra. Their key message? Australia isn’t spending enough money on university research.

The Independent UK

Has India really overtaken Japan to become world’s 4th largest economy?

IN FOCUS: Surpassing Japan’s GDP would be a significant milestone for the world’s most populous country, but experts say an Indian official’s claim might be premature. Either way, are such moments really a cause for celebration? Shweta Sharma reports from Delhi

The Independent UK

NATO set to commit to five percent defense spending goal amid threats from Trump

‘I assume that in The Hague we will agree on a higher defense spending target of in total five percent,’ said NATO Secretary General Mark Rutte

International Business Times

IMF Report Spotlights St Kitts And Nevis' Need For Major Investment Project

With GDP growth stalling and tourism still below pre-pandemic levels, the IMF highlights the urgent need for a transformative investment project

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news in one place.

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Fortune

Trump is going to get 'punched in the face' by markets if he pushes through spending bill without a plan for national debt and tariffs, says Wharton professor

Republicans argue that growth is the best way to rebalance America’s books, but economists fear that tax cuts may be the final nail in the coffin for national debt.

The Guardian - UK

Trump’s latest Wall Street showdown pushes investor scepticism to the brink

US president’s One Big Beautiful Bill Act has rattled the bond market and will inevitably have global consequences

Euronews

‘Surprisingly good March’ helps German GDP exceed expectations

The German economy, Europe's biggest, grew by 0.4% in the first quarter thanks to stronger-than-expected exports and manufacturing.

Euronews

Can tourism be reimagined? New Saudi-led platform wants to future-proof global travel

Tourism is expected to contribute nearly €11 trillion – about 10 per cent of GDP – to the global economy this year.

Euronews

OECD growth slows abruptly to 0.1% in the first three months of 2025

The overall GDP growth of the 38 countries of the OECD, providing more than 40% of the global economy, slowed down substantially in the first quarter of 2025.

Al Jazeera

Will EU deal make food cheaper, add $12bn to the UK economy?

PM Keir Starmer has heralded a ‘landmark deal’ seeking to reset ties between the United Kingdom and the European Union.

The Conversation

NZ Budget 2025: science investment must increase as a proportion of GDP for NZ to innovate and compete

A lack of strategy and research funding – by both the current and previous governments – has been well documented, most comprehensively in the first report by the Science System Advisory Group (SSAG), released late last year.

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