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The Latest Breaking News from Economy

'Minimum wage is destroying jobs and must be cut', Liz Truss's economy group claims

A group of economists brought together by former prime minister Liz Truss says the minimum wage should be frozen and then cut.

The National (Scotland)

Truss-backed economists say minimum wage is ‘destroying jobs’ and call for cut

Plans to increase the minimum wage will be a ‘significant drag on the economy’, according to The Growth Commission.

The Independent UK

West Africa’s plastic waste could be fuelling the economy instead of polluting the ocean: experts

Plastic pollution is an urgent environmental issue, globally. Every year, about eight million tonnes of plastic end up in the oceans.

The Conversation

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Biden’s economic messaging should ‘hit Trump’ and highlight his mistakes, data reveals

Biden can revive ailing poll numbers by reminding voters Trump was a threat to social security and cut taxes for the wealthy

The Guardian - US

Social cohesion lowest on record as Australia reels from cost of living, inequality concerns and voice debate

The social cohesion index – which draws on a survey of more than 7,000 Australians – plummets to lowest since it began 16 years ago

The Guardian - AU

Forget the gloom of the 1970s—UBS thinks the US economy is headed back to a Clinton-like era of the bustling 1990s

"The bottom line: Something is afoot with the US economy," wrote UBS's Jason Draho.

Fortune

US delays APEC trade deal due to domestic pushback

At the Asia-Pacific Economic Cooperation (APEC) Forum on Tuesday, US treasury secretary Janet Yellen said a trade deal that would cover some 40 percent of the global economy "looks not to be complete". Her comments came after Democrat senator Sherrod Brown voiced his opposition to the text over labour standards…

France 24

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BRS is ‘B’ team and Majlis ‘B’ Plus team of the BJP: Manish Tewari

Manish Tewari terms BRS as BJP's 'B' team & AIMIM as 'B Plus' team. He asserts Congress is reflecting people's voice & wants BRS to go. He recalls how Sonia Gandhi overcame pressure to form Telangana. He alleges family rule has destroyed Telangana's economy & BRS govt is rife with…

The Hindu

How does an electric battery work and what are the different types? | Explained

Batteries are collections of cells, and corrosion can degrade their performance. Li-ion batteries and EVs are two examples of batteries in the news. Hydrogen fuel cells are of great interest for the green hydrogen economy.

The Hindu

Morgan Stanley’s investment chief expects stocks to rise just 2% in all of 2024—but these AI-era picks and defensive plays could help investors outperform

“The leading macro data suggests that we're in a late cycle market environment,” Morgan Stanley's Wilson wrote Monday, adding that it's stock pickers' world.

Fortune

The growth dichotomy: On September’s Index of Industrial Production data

The Index of Industrial Production for September indicates an asymmetry in the economy and that a fresh fork lies in the road ahead

The Hindu

Rachel Reeves plans pensions reform as part of Labour’s growth plan

Shadow chancellor also backs planning changes and industrial strategy, but no ‘unfunded tax cuts’

The Guardian - UK

Will China Have to Boost Stimulus to Revive Domestic Demand?

Recent alternative data and independent surveys show China’s domestic consumption rebound slowed, and private business confidence lost momentum in October, suggesting the recovery isn’t sustainable and additional stimulus measures may be needed to revive domestic demand. Chinese leaders met in July and warned that the Chinese economy is following a...

Barchart

Biden's economy vs. GOP mythology

Many voters claim Biden's economy is bad and Trump's was better. What fantasy version of America do they live in?

Salon

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The Conversation

William Ruto's first year: he promised to make life easier for Kenyans, but things got worse

It’s more than a year since President William Ruto was sworn into office as Kenya’s fifth president. He assumed power at a time when Kenya was beset by rising food and fuel prices, high unemployment and a worrying debt burden.

Barchart

Retail Earnings, CPI and Other Can’t Miss Items This Week

This week we have some high-profile earnings due out in addition to plenty of manufacturing and housing news releases. Here are 5 things to watch in the markets this week.

The Guardian - UK

Floating factories of artificial leaves could make green fuel for jets and ships

Cambridge University scientists develop a device to ‘defossilise’ the economy using sunlight, water and carbon dioxide

The Guardian - UK

I challenge Rishi Sunak: vote with Labour to stop a Truss-style disaster happening again

When the former PM crashed the economy, working people suffered. We can never let it happen again, writes the shadow chancellor

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The Guardian - UK

Labour motion to ban Truss-style budget meltdowns puts pressure on Tory MPs

Party loyalty would force Conservatives to vote against plan for fiscal responsibility

The Independent UK

Labour to put plans for strengthened OBR to Commons vote

Shadow chancellor Rachel Reeves said the plan would ‘prevent a repeat of Liz Truss’ disastrous mini-budget’.

The Independent UK

A fragile global economy is at stake as US and China seek to cool tensions at APEC summit

The United States and China are the two global economic heavyweights

The Hindu

CII’s infra summit aims to bring leaders together to explore T.N.’s future-ready infrastructure

CII's infra summit in Chennai to discuss TN's trillion-dollar economy target by 2030. Discussions on reducing carbon footprint, data centers, green energy, EV industry, fast charging points, battery swapping, and tech advancements. Policy support needed for successful implementation.

The Guardian - UK

Inflation halved will still leave Sunak with little to boast about

Slower price growth, due partly to tighter Treasury purse strings, won’t lift the gloom of a flatlining economy

Fortune

What recession? The unlikely factors shaping America's economic landscape

After expanding at a red-hot 4.9%, all signs point to further, albeit slower, growth for the U.S. economy in the election year.

StockNews.com

Green Light for Stocks!

The late summer correction for stocks is over as we have bounced ferociously from bottom. This is easy to see as the S&P 500 (SPY) keeps leaping over technical hurdles like the 50, 100 and 200 day moving averages. This green light for stocks will stay true as long as…

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