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The Latest Breaking News from Economy

Jim Chalmers’ first budget comes amid a darkening economic outlook. Here’s what could go wrong

The federal budget forecasts growth of 3.25% this year but hints at a slowing global economy with high inflation and interest rates

The Guardian - AU

Australian budget forecasts heavy hit to economy due to floods and disasters

Estimates growth will lose about quarter of a percentage point during the current quarter, or about $5bn in economic activity, because of flooding

The Guardian - AU

Jim Chalmers’ 2022-23 budget mantra: whatever you do, don’t fuel inflation

Terrified by the prospect of further stoking the worst inflation in three decades, Treasurer Jim Chalmers and Finance Minister Katy Gallagher have delivered a budget that takes out of the economy about as much as it pumps into it.

The Conversation

From analysis to the latest developments in health,
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Federal budget 2022: Winners and Losers

It's the second federal budget of the year, but this time Treasurer Jim Chalmers is delivering Labor's first in close to a decade. Here's where it plans to spend its money and where it wants to rein things in.

ABC News

Two years to go before wages rise

The gloomy state of the economy will weigh on household budgets with a boost to real wages not expected until at least mid-2025.

AAP

Ramesh Ponnuru: Democrats are focusing on the wrong issues

A political party has a problem when voters think it has the wrong answers to their most important questions. It has a bigger problem when voters think it isn’t even focusing on those questions. Democrats have put themselves in that position, and it may cost them dearly in next month’s…

Tribune News Service

Allison Schrager: Biden hasn’t helped the economy. He’s made it worse

To President Joe Biden’s credit, his policies didn’t cause many of the economic problems we face today. But they did make them worse. Even more troubling, his policies might reduce growth in the future and make the economy less equal and resilient.

Tribune News Service

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Cardiff University's massive impact on UK economy revealed

The university has 33,000 students and almost 7,000 staff

Birmingham Post

What Rishi Sunak is likely to announce on benefits and energy bills

Mr Sunak vowed to increase benefits in line with inflation and scrap VAT on energy bills - but that was before the economy collapsed

Wales Online

Rishi Sunak will leave the economy in a hole – Labour will have to think big to dig it out

If Starmer wins, he must either pursue austerity with a red rosette, or find game-changing new ideas, says Guardian columnist Owen Jones

The Guardian - UK

Rishi Sunak’s prize for predicting Liz Truss chaos: He gets to clean up the mess

LONDON: Rishi Sunak spent the summer trying to warn the Conservative Party that Liz Truss would trash the economy if she became UK prime minister. He failed to win the top job then -- but is now on the hook for cleaning up her mess.

The Times of India

Plastic recycling remains a myth, study finds

WASHINGTON: Plastic recycling rates are declining even as production shoots up, according to a Greenpeace USA report that blasts industry claims of creating an efficient, circular economy as "fiction."

Bangkok Post

Development Bank of Wales to launch Net Zero business incentive next year

The regional bank will fast track its "invest to save decarbonisation" offer

Birmingham Post

California is about to become the world’s 4th largest economy. Here’s how and when

If California were a nation, it would be the world’s fifth largest economy. Soon, it may become the fourth.

Tribune News Service

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Reuters

Japan PM appoints ex-health min Goto as next economy minister

Japan's Prime Minister Fumio Kishida on Tuesday appointed former health minister Shigeyuki Goto as the next economy minister after the incumbent abruptly resigned amid criticism over his links to a controversial religious group.

Bangkok Post

Ubon floods 'worst in history'

Ubon Ratchathani is facing the worst flooding in its history, which has affected the lives of thousands of people as well as the economy of the province.

Axios

Biden officials quietly discussing lame-duck debt ceiling deal in case GOP wins House

Republicans have threatened to use the debt ceiling to extract painful spending cuts from the White House.

Tribune News Service

8 best short-term investments in October 2022

If you’re looking to invest money for the short term, you’re probably searching for a safe place to stash cash before you need to access it in the not-so-distant future. The volatile markets and slumping economy led many investors to hold cash as the coronavirus crisis dragged on — and…

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news in one place.

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The Guardian - UK

Tentative business welcome for Sunak amid deepening economic gloom

UK industry leaders hope for urgent steps from new PM to repair battered business confidence

Belfast Live

Analysis: What Rishi Sunak as Prime Minister means for Northern Ireland

The Conservatives regaining public confidence in their handling of the economy will be essential if the new Prime Minister ever hopes to win the next general election

Wales Online

New PM Rishi Sunak will have to get a grip of volatile post-Truss economy and cost of living crisis

The list of 'hot potato' challenges faced by Mr Sunak

Newsroom.co.nz

The climate-conscious are looking to NZ, says Grant Robertson

The finance minister says farmers know full well pricing agricultural emissions is as much about the country’s economy as it is the environment.

Daily Mirror

Inside the lavish new business class on UK-US flights with private ‘suites’

American Airlines is launching suite seats on some of its long haul flights from next year, as well as expanding the number of premium economy seats on its services

The Conversation

Rishi Sunak faces a very different economy to the one he left as chancellor -- here's what he must tackle as prime minister

As the incoming UK prime minister, Rishi Sunak has the immediate advantage of perceived success in his two years as chancellor.

Evening Standard

Sunak must balance the books and restore confidence in the UK economy

Britain’s new prime minister needs to be fiscally conservative, provide targeted support for the very poorest, and implement radical supply side reforms.

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