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The Latest Breaking News from OECD

Australia hopes to change climate reputation at COP27

A new government hopes to transform Australia’s reputation into a climate leader at COP27. But there’s a lot of damage to unpick.

360info

F1 faces legal challenge over Bahrain contract and sportswashing

Formula One faces a legal complaint accusing it of breaching OECD guidelines after the sport concluded a deal this year extending its contract to hold races in Bahrain until 2036

The Guardian - UK

Foreign aid gets $1.4bn budget boost but Australia still among least generous in OECD

Aid sector welcomes Albanese government’s commitment but says country ‘can and must do better’

The Guardian - AU

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Everything you need to know about Labor's first budget in 6 charts

This Budget makes hard decisions for hard times.

The Conversation

‘The beginning of something new’: how the 2022-23 budget does things differently

Treasurer Jim Chalmers told reporters on Tuesday his first budget was “the beginning of something new and responsible”.

The Conversation

In fairness to New Zealand’s tax and transfer system

Dodgy statistical work to generate headlines supporting higher taxation risks eroding the credibility of Oxfam’s aid work.

Newsroom.co.nz

Singapore has among the world's best education systems, so what can Australia learn from it?

Disruptions from COVID-19 and the recent Victorian floods have some experts calling for changes in Australian schools. They say Singapore's flexible education system could be a model to better prepare students to engage in quality learning during times of crisis.

ABC News

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Australia's COVID response was 'overreach' and worsened existing inequalities, according to independent review

Australia’s response to COVID-19 exacerbated existing inequalities within the society, according to an independent review, which urges that “overreach” be avoided in dealing with future such crises.

The Conversation

HSBC 'green' ads banned because they did not give information on bank's own emissions

The bank was told by the Advertising Standards Authority to ensure 'future marketing communications featuring environmental claims were adequately qualified'

Wales Online

HSBC ‘green’ ads banned for omitting information about bank’s own emissions

The posters, seen on bus stops in Bristol and London in October 2021, read ‘Climate change doesn’t do borders’.

The Independent UK

OECD Expects Saudi Arabia to Top G20 Economies for 2 Years

The real GDP growth projections of the Saudi economy are expected to reach 9.9 percent this year, and six percent in 2023, recording the highest growth rate among the G20 countries, according to a report by the Organization for Economic Cooperation and Development (OECD). The report "OECD Economic Outlook Interim…

Asharq Al-Awsat

Living costs top worry for Israeli voters stuck in election treadmill

Israelis are as fed-up with soaring prices as they are with the country's seemingly never ending elections. In the Nov. 1 ballot - a fifth in less than four years - steep living costs, exacerbated by record inflation, are top priority for voters.

Reuters

Brazil's slippage in corruption index clouds OECD membership, report says

Brazil slipped in its global corruption positioning due to government interference in the work of law enforcement agencies that has caused serious consequences for anti-graft efforts, Transparency International (TI) said on Tuesday.

Reuters

Half of poorest countries have cut health spending despite Covid, says Oxfam

Analysis of budgets finds rich nations, including UK, ‘exacerbated explosion of economic inequality’

The Guardian - UK

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The Guardian - UK

Liz Truss dreams of growth – but even if she pulls it off, it won’t help Britain

Incomes have stalled while the rich get richer. It’s clear the obsession with GDP has to change, says the University of Sheffield’s Michael Jacobs

The Guardian - UK

Government ‘burying head in sand’ over health inequality, says bishop of London

Exclusive: UK’s most senior female bishop calls for long-awaited white paper promising ‘bold action’

Reuters

Ukraine takes first step towards joining OECD economic group

Ukraine took a first step in the process towards joining the Organisation for Economic Cooperation and Development on Wednesday after the OECD said it could be a prospective member.

The Independent UK

Big Brazilian gold refiner delisted amid Amazon mining probe

One of Brazil’s biggest gold refiners, which processes gold suspected of being mined illegally in the Amazon rainforest, has been stripped of an important industry seal of approval that global manufacturers from Apple to Tesla rely on to root out abuses in their supply chains

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Al Jazeera

One year in, Japanese PM’s ‘new capitalism’ faces old complaints

Japanese leader’s signature economic strategy has been criticised for lacking concrete details or targets.

The Guardian - AU

Banks raise interest rates in response to RBA – as it happened

This blog is now closed

ABC News

Donald Trump sues CNN claiming defamation, RBA to raise rates again, and Ringo Starr cancels concerts — as it happened

The news Australia is searching for and all the news that happened while you snoozed. This is The Loop: your quick catch-up on this morning's stories as they happened.

The Conversation

Orthodox thinking won't cut it: why Mathias Cormann's leadership of the OECD has economists worried

In June 2007, Jean-Philippe Cotis, the chief economist of the Organisation for Economic Cooperation and Development, declared that 2008 was going to be a great year.

AAP

Multinational tax reform gets under way

The Albanese government has opened consultations on international corporate tax reforms to close tax loopholes exploited by multinationals.

The Guardian - UK

Google UK staff earned average of more than £385,000 each in 18 months

Figures to end of December come as tech firm gave almost £1bn in share-based payments

ABC News

Australia's public education funding went backwards during COVID pandemic

Public funding of education was cut in Australia during the early stages of the coronavirus pandemic, as most of the OECD did the opposite, according to a new report.

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