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The Latest Breaking News from Economy

Joe Biden's legacy: How a recent trip embodied his shaky term

The president had some legislative wins, but a number of missteps hamstrung his term. One recent trip summed up his four years in office.

Roll Call

Upgraded NBN could compete with Elon Musk's Starlink

Australia must expand its network if it wants to compete with Elon Musk's offering and provide affordable, reliable internet to the regions, an expert says.

AAP

Downing Street insists Rachel Reeves will be chancellor ‘for whole of this parliament’

The prime minister told an audience in east London that he is ‘completely confident’ in his team as pressure grows over the economy

The Independent UK

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UK will be ‘AI superpower’, says Starmer as he unveils plans to boost growth

The Prime Minister said the changes would help revolutionise creaking public services and turn around Britain’s economy.

Evening Standard

One way Trump could help revive rural America’s economies

Picture yourself living the American Dream. You likely have more opportunity than your parents did. Through hard work, smart choices and perhaps some good luck along the way, you have financial stability and a great deal of freedom to choose your next steps in life.

The Conversation

Keir Starmer says Treasury will be ruthless on public spending cuts

Chancellor’s tough approach to public spending ‘absolutely right’, says PM after cost of government borrowing rose

The Guardian - UK

Russia ‘prepared for any scenario’ on Ukraine war as Trump presidency nears

The US president-elect has promised to end the conflict in Ukraine but the Kremlin has not endorsed any tentative plans.

Al Jazeera

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British PM Vows AI Will Usher In 'Golden Age'

Prime Minister Keir Starmer on Monday laid out his vision to harness the power of artificial intelligence to boost Britain's flagging economy, promising flexible regulations amid concerns about the technology's unchecked use.

International Business Times

Pound slides to fresh 14-month low as stocks fall; rise in UK borrowing costs reverses – as it happened

Dollar jumps to over two-year high against major currencies as bets on US rate cuts recede; UK 30-year government bond yield eases after hitting fresh 27-year high

The Guardian - UK

China Saw Booming Exports In 2024 As Trump Tariffs Loom

China's exports surged to a record high in 2024, providing a much-needed boost for the economy as the prospect of biting tariffs imposed by US president-elect Donald Trump looms.

International Business Times

Three Ways President Trump Could Impact the Economy

Some of Trump's top priorities could boost economic growth, but others risk fueling inflation.

Kiplinger

UK must not let AI ‘wash over our economy’, says Science Secretary

Peter Kyle is set to unveil the UK’s AI action plan alongside the Prime Minister on Monday.

Evening Standard

Australia's bullet-proof jobs market put to the test

Even with restrictive interest rate settings and inflation battering the economy, Australia's labour market has proved surprisingly resilient.

AAP

U.S. Economy Doing "Quite A Bit Better" Than Expected, Says IMF Chief

She also warned that the strong US dollar could lead to higher funding costs for emerging market economies.

International Business Times

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Top News

US Job Growth Surges, Unemployment Falls Unexpectedly

U.S. job growth exceeds expectations, indicating a strong economy with potential inflationary pressures. President Biden addresses rising costs, businesses...

The Guardian - UK

‘So immoral’: gig economy workers charged fee to get paid quicker

Retail assistants on low pay using YoungOnes platform told to wait up to 30 days for earnings or be charged for quick payment

Fortune

Fed rate cuts are already over after they barely started as blowout jobs report shifts focus to hikes, BofA says

"Inflation is stuck above target and risks are skewed to the upside. Economic activity is robust. We see little reason for additional easing."

The Independent UK

How a robot cafe in Tokyo aims to empower – not replace – human workers

Inventor Kentaro Yoshifuji’s robots allow people to work at the Dawn cafe from anywhere in the world – ‘teleportation’ technology that could open up new demographics for Japan’s flatlining economy. Adam Withnall reports from Tokyo

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The Guardian - UK

Reeves vows to stand by fiscal rules to achieve stability despite market turmoil

UK chancellor made comments during visit to China where agreements were made worth £600m to UK economy

The National (Scotland)

Labour urged to change course to avoid 'crisis point' as economy tanks

LABOUR have been warned they must change course urgently or risk bringing the country to a “crisis point” amid a series of dire economic…

International Business Times

UK Finance Minister Begins China Visit Amid Govt Bond Crisis

British finance minister Rachel Reeves began a visit to China on Saturday, seeking to revive dialogue with the world's number two economy as UK borrowing costs soar.

The Independent UK

Reeves defiant over China trip in face of growing criticism and economic turmoil

Labour chancellor accused of ‘undesirable’ policies and ‘incompatible promises’

The Guardian - UK

Glasgow needs an economy strong enough to sustain its heritage

Letters: It needs to realise its Victorian buildings are an asset rather than a liability, writes Richard Owen; plus a letter from Douglas Anderson

Kiplinger

Blowout December Jobs Report Puts Rate Cuts on Ice: What the Experts Are Saying

The strongest surge in hiring since March keeps the Fed on hold for now.

Evening Standard

US jobs data sparks Wall Street sell-off while pound slump continues

Global stock markets were in the red on Friday as investors reacted to stronger-than-expected labour market data from the world’s largest economy.

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