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The Latest Breaking News on Economy

India's external debt declines by $2.3 billion in Q2 FY23

NEW DELHI: India's external debt stood at $610.5 billion in the second quarter of 2022-23, down by $2.3 billion from end-June 2022, the finance ministry said on Thursday.

The Times of India

Applications for US unemployment aid rose slightly last week

The number of people seeking unemployment benefits rose modestly last week, the latest sign that the labor market remains strong despite the Federal Reserve’s efforts to cool the economy and hiring

The Independent UK

Editorial: The fiscal cliff looms; nothing to see here

The national debt is much like the weather. Everybody worries about the topic, but nobody wants to do anything about it.

Tribune News Service

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Italy's parliament gives final approval to government's 2023 budget

The Italian government on Thursday comfortably won a vote of confidence in the Senate over its expansionary 2023 budget, obtaining parliament's final approval of the package a few days before the end-year deadline.

Reuters

Understanding stagflation

Stagflation is a real problem for policymakers because the Central Bank can increase interest rates to reduce inflation or cut interest rates to reduce unemployment.

Fortune

Childcare bills to be slashed by a quarter from next week

The cut will be the biggest reduction in childcare fees in the history of the State

Dublin Live

The jobs market posted its best year in decades, but wages haven’t kept up

Australia’s jobs market has finished 2022 in a remarkably strong position, but there's a mystery underneath that's hurting most workers.

The New Daily

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5 Reasons to Be Bearish in 2023

Some price action for the S&P 500 (SPY) is quite meaningful and tells you a great deal about the future direction of stocks. And some price action is just useless noise. Such is the case for trading during the holidays when so many people are on vacation and trading volume…

StockNews.com

Can Texas’ jobs-making machine keep cranking through a 2023 slowdown?

Recoveries don’t last forever.

Tribune News Service

Delaying free school meals to all primary kids branded 'shameful' by Scots teaching union

Scottish Government pledge to provide all P6 and P7 children with free school meals was put back till 2024.

Daily Record

Scotland’s international outlook ‘vital’ to the economy, says Angus Robertson

The External Affairs Secretary pledged the country will continue to be a ‘good global citizen’.

The Independent UK

'World economy is headed for a recession in 2023'

LONDON: The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research.

The Times of India

World economy is headed for a recession in 2023, researcher says

The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Center for Economics and Business Research.

Tribune News Service

Egypt Targets 5.5% GDP Growth in FY2023/24

Egypt is targeting GDP growth at 5.5% in fiscal year 2023/24, its Finance Minister Mohamed Maait said in a circular on Saturday.

Asharq Al-Awsat

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Tribune News Service

Italy’s lower House approves Giorgia Meloni budget law

Italy’s lower house has approved Giorgia Meloni’s budget law, following a confidence vote in which the new prime minister secured wide backing for her economic plans.

Asharq Al-Awsat

Tunisia Seeks to Cut Fiscal Deficit to 5.5% in 2023, Led by Economic Reforms

Tunisia expects to reduce its fiscal deficit to 5.5% next year from a forecast 7.7% this year, driven by austerity measures that could pave the way for a final deal with the International Monetary Fund on a rescue package. The country has been in urgent need of international help for…

StockNews.com

3 Stocks That Could Easily Survive a Recession

The Fed's persistent hawkish stance is making a recession in the next year look inevitable. Given the backdrop, investors could consider investing in quality stocks UnitedHealth (UNH), PepsiCo (PEP), and Darden Restaurants (DRI) to shield their portfolios from recession blues. These stocks possess solid dividend-paying records. Keep reading….

The Times of India

India's GDP to grow at 6.8% in current fiscal year, should prepare for headwinds: IMF

NEW DELHI: Amid persisting challenges from a gloomy global economic scenario, the International Monetary Fund (IMF) on Friday projected India to grow by 6.8% in financial year 2022-23.

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The Times of India

India economic growth 'extremely fragile', needs all support, says RBI MPC member

NEW DELHI: India's economic growth is now 'extremely fragile' and needs all the support that it can get, as private consumption and capital investment are yet to pick up, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Friday.

Axios

Raimondo channels CEOs' case for holiday cheer

In an interview with Axios, she says CEOs are "reasonably optimistic" about the economy.

Reuters

Japan to unveil record $864 billion budget driven by military costs

Japan is set to unveil on Friday a record $864 billion budget for the next fiscal year from April, pushed up by increased military spending and higher social security costs for a fast-ageing population, according to a final draft reviewed by Reuters.

ABC News

Cloncurry childcare centre's $150k salary package not enough to lure teachers to Queensland outback

This Queensland community has struggled to attract a childcare teacher for years. Despite a new $6 million facility in the works and a generous salary package on offer, no-one is interested.

Reason

Congress Can Reduce the Deficit by $7.7 Trillion in 10 Years

The Congressional Budget Office projects that future deficits will explode. But there's a way out.

The Independent UK

US economy grew 3.2% in Q3, an upgrade from earlier estimate

Shrugging off rampant inflation and rising interest rates, the U.S. economy grew at an unexpectedly strong 3.2% annual pace from July through September, the government reported Thursday in a slight upgrade from its earlier estimate of third-quarter growth

Evening Standard

UK economy shrank ‘more than thought’ up to September putting it last among G7 nations

Growth has been weaker than estimated throughout much of the past year

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