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The Latest Breaking News from Economy

Parliamentary proceedings | Opposition, BJP MPs continue to fight in Rajya Sabha over state of economy

On the second day of the short-duration discussion on the state of the economy held in the Rajya Sabha, the Opposition and the Treasury Benches used statistics to counter each other.

The Hindu

Renting is getting too expensive for Gen Z, making living alone a luxury saved for the middle-aged

Roommates have long been a rite of passage for young adults, even more so for Gen Z.

Fortune

Big bank CEOs warn that new regulations may severely impact economy

The heads of the nation’s biggest banks say there are reasons to be concerned about the health of U.S. consumers _ particularly poor and low-income borrowers _ in their annual appearance in front of Congress on Wednesday

The Independent UK

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The U.S. economy could face 'a perfect storm' if Basel III Endgame goes into effect. Here’s why

The capital regulation plan known as Basel III Endgame will increase capital requirements by 20% or more for the eight largest U.S. banks.

Fortune

Ditch the rose-coloured glasses: Australia’s GDP is going backwards

We have now had three consecutive quarters of falling GDP on a per capita basis. That last happened 40 years ago during the 1982-83 recession

The Guardian - AU

Bracket creep is cooling Australia’s economy – it’s good news for interest rates but not for household budgets

The weak economy probably means the next RBA rates move – short of an inflation surprise next month – will be a cut

The Guardian - AU

From Taylor and Beyoncé to Barbie and Coco Gauff, women dominated the events economy this year

The top four women musical artists more than tripled the sales of the top 10 highest-selling artists of 2022.

Fortune

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In this East Texas town, a 45-foot tall oil pump is a holiday symbol and connection to the past

Rudolph the Red-Nose Pumping Unit has long been a holiday tradition in Lufkin. The machinery, now used worldwide to extract oil from the ground, was invented by a local businessman.

The Texas Tribune

Economist Santiago Bausili To Become Argentina's Central Bank Chief Under Milei Administration

The economist is known to be a close ally of Luis Caputo, who is the incoming economy minister.

Latin Times

November Jobs, Unemployment And Wages: What To Expect

Wall Street expects the U.S. economy to have created somewhere between 160,000 and 185,000 jobs in November, based on two forecasts published by Trading Economics.

International Business Times

Stock market today: Asian shares surge as weak US jobs data back hopes for an end to rate hikes

Asian shares have advanced after most stocks slipped on Wall Street following a mixed set of reports on the U.S. economy

The Independent UK

Why can’t British Gas install a smart meter that works?

We’ve been waiting more than two years for all of our problems to be solved

The Guardian - UK

ASX skyrockets as economy shows sign of weakness

The ASX200 made its biggest daily gain in more than a year as lower-than-expected GDP growth signals the RBA's rate rises are having their intended effect.

AAP

Australia’s economic growth slows, reducing chance of another interest rate rise next year

Economy grows more slowly than expected, with consumer spending flat under the pressure of high interest rates

The Guardian - AU

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The Hindu

Opposition questions Centre’s inaction on issues of unemployment, price rise in Rajya Sabha

Opposition questions Union government performance in economy, BJP defends Centre, citing electoral victories. Chidambaram focussed on unemployment, price rise & inequality. O'Brien & Reddy raised issues of price rise & trade deficit

The Hindu

The Ambedkar touch in rethinking social justice policies

It is an appropriate time to imagine how the worst-off social groups can become an integral and substantive part of the new economic order

The Conversation

Why the UK economy is in such a state – and even the Labour party doesn’t seem to get how bad things are

The Labour leader Keir Starmer has warned that if his party wins the next UK general election, he will not be able to “turn on the spending taps”. Speaking at a thinktank event focused on the stagnation of the UK economy, he said the country was “in a hole” after…

AAP

Economy weakens as rising costs take toll on households

The Australian economy almost came to standstill last quarter, with clear signs of financial pain in the household sector.

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The Guardian - UK

Moody’s cuts China credit outlook to negative as economy slows

Rating agency says Beijing may need to bail out local governments as property sector collapses

The Guardian - UK

Israel’s use of disproportionate force is a long-established tactic – with a clear aim

The strategy goes well beyond defeating an opponent: it seeks to destroy key infrastructure and the economy, says academic Paul Rogers

The Guardian - UK

UK has high rate of teenagers missing meals due to poverty, OECD says – as it happpened

One in 10 UK 15-year-olds (11%) told the OECD they had missed meals because of poverty

France 24

LinkedIn report shows labour market heading for 'green skills' shortage

Professional networking platform LinkedIn's annual "green skills" report tracks how the labour market is facing up to the challenge of building a sustainable economy. This year, the number of people with skills that are useful in transforming the economy grew by a median of 12.3 percent, which is outpaced by…

StockNews.com

Analyzing the Potential of 3 China Stocks - Buy, Hold, or Sell?

Despite facing multiple challenges, China's economy has displayed commendable resilience over recent years. Given the policy actions undertaken to stabilize the Chinese economy this year, let us ascertain which China stocks among H World Group Limited (HTHT), New Oriental Education & Technology Group (EDU), and X Financial (XYF) are worth…

The Independent UK

Moody's cuts China credit outlook to negative, cites slowing economic growth, property crisis

Credit rating agency Moody’s has downgraded its outlook for Chinese sovereign bonds to negative, citing risks from a slowing economy and a crisis in its property sector

International Business Times

Moody's Downgrades Outlook On China Credit Rating Over Debt Fears

Ratings agency Moody's on Tuesday downgraded the outlook on China's credit rating to "negative" from "stable" on the back of rising debt in the world's second-largest economy, with Beijing saying it was "disappointed" by the move.

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