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The Latest Breaking News on Economy

UK economic growth weaker than first thought, latest figures show

THE UK economy contracted by more than was first thought between July and September with growth also weaker than estimated in a grim set of official…

The National (Scotland)

FTSE 100 Live: Recession-bound UK economy declines 0.3% in Q3

The recession-bound UK economy contracted by 0.3% in the third quarter of the year, slightly more than originally thought.

Evening Standard

University of Canberra close to securing pay deal with staff

UC staff to get $1000 cost of living payment and pay rise in new agreement.

The Canberra Times

From analysis to the latest developments in health,
read the most diverse news in one place.

Indian economy likely to grow at over 7% in FY23: Arvind Panagariya

NEW DELHI: The Indian economy is likely to grow at over 7 per cent in the current fiscal year, former Niti Aayog vice chairman Arvind Panagariya said on Wednesday, while observing that the growth rate should sustain next year too provided the forthcoming Budget does not have any negative surprises.

The Times of India

Strikes reveal Britain is getting poorer – but we haven’t run out of money

Government borrowing surged to £22 billion last month due to higher debt interest and cost-of-living payments to households. This represents the largest monthly figure for November borrowing since records began in 1993.

Evening Standard

Oman Sees 2023 Budget Deficit at 3% of GDP

Oman is forecasting a 1.3 billion rials ($3.39 billion) deficit in its 2023 budget, or 3% of the gross domestic product, following an expected surplus this year after higher oil prices boosted revenues. State media reported the Gulf state expects revenues of 11.7 billion rials ($30.2 billion), up 10% over…

Asharq Al-Awsat

Things are only going to get worse in 2023, say seven out of ten Britons amid economic gloom

Seven in ten adults expect Britain’s general economic conditions to get worse in 2023, a new poll revealed on Wednesday.

Evening Standard

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Government borrowing soars to record £22bn after nearly doubling in a month

Jeremy Hunt blames Covid and Ukraine for woes, as chancellor promises to half inflation in 2023

The Independent UK

Teachers and social workers suffer most from ‘lost decade’ for pay growth in UK

Research shows public sector salaries have fallen significantly behind those in the private sector

The Guardian - UK

Scottish Government must get its house in order amid possible £80m budget overspend

Record View says Scots must be convinced the Government is as careful with its budgets as families are with theirs during the cost of living crisis.

Daily Record

New Year govt gift bonanza

The government will roll out a package of stimulus measures as "New Year gifts", including tax rebates for shoppers, reductions in land and building taxes, and property transaction fees to boost public consumption and the economy over the coming year.

Bangkok Post

Victorian teachers offered $10k bonuses at public schools as 1,100 positions remain vacant

Public schools are allowed to offer cash incentives to attract staff, but as a teacher shortage bites, some fear the practice is creating an "arms race" that leaves poorer state schools behind.

ABC News

Australia's economy recovered in 2022, will it crash in 2023?

Soaring inflation and aggressive central bank hikes were the theme of 2022, but will they continue with gusto in 2023? Here's what the experts think.

ABC News

Economists place 70% chance for US recession in 2023

Economists say there is a 7-in-10 likelihood that the U.S. economy will sink into a recession next year, slashing demand forecasts and trimming inflation projections in the wake of massive interest-rate hikes by the Federal Reserve.

Tribune News Service

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Insider UK

Scottish recession could be shallower than the rest of the UK, MSPs are told

Rebound in North Sea earnings could also boost Scotland’s relative economic performance

The National (Scotland)

Scotland’s recession may be shallower than elsewhere in UK , MSPs told

SCOTLAND may experience a slightly shallower recession than the rest of the UK, experts have told MSPs ...

The Conversation

Australia has a plan to fix its school teacher shortage. Will it work?

All year, we have heard reports of a “crisis” in Australian schools, thanks to a shortage of teachers around the country. Federal education department modelling shows there will be a high school teacher shortfall of about 4,000 by 2025.

StockNews.com

Bear Market is Back Again…

A lot has happened since my stock market (SPY) commentary last week! We nailed the interest rate hike — 50 bps, as everyone expected — and I was right that the dot plot and post-meeting commentary would spoil the party. This has certainly been a market where any bad news…

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Bangkok Post

Lower public debt on the cards

Thailand's fiscal status is improving thanks to a gradual economic recovery following the pandemic, which may prompt the government to lower the ceiling of the public debt-to-GDP ratio from the current 70%, according to the Public Debt Management Office (PDMO).

Bangkok Post

Central bank upbeat on long-term growth

The Bank of Thailand expects the economy to continue to align with potential growth projections for the next two years, then strengthen in the longer term.

AAP

All options on the table in 2023: RBA

The Reserve Bank of Australia has been careful not to lock itself into a set pathway for cash rate decisions in 2023.

Newsroom.co.nz

Budget 2023: Feeding the chooks for the general election

As election year approaches, voters want to be fed (bigger) hand-outs, and the Government wants to appease them, all while appearing fiscally responsible. Trouble is, the latest Budget Policy Statement appears anything but, especially when it comes to debt

Birmingham Post

The University of South Wales facing a multi-million-pound financial deficit

The University's Vice-Chancellor Ben Calvert said its challenging financial outlook had been impacted in part by an increase in students not returning

Daily Record

Warning over impact cuts to school budgets will have on West Dunbartonshire pupils

WDC currently faces a budget black hole of more than £20million, with cost saving options due to be considered by members at Church Street this week including a 20 percent cut to general school budgets.

The Guardian - UK

Freeze on alcohol duty to be extended to help UK hospitality industry

No increases until August 2023 despite Jeremy Hunt’s first full budget being scheduled for 15 March

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