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The Latest Breaking News from Economy

Splurging shoppers push economy over speed limit

The sharpest rise in household spending in 21 months suggests the economy is continuing to grow in strength, heightening Reserve Bank fears about inflation.

AAP

Services Sector Shows Robust Growth — But Prices Are Still Way Too Hot

The crucial U.S. services sector maintained its expansion in November, according to two key survey reports, reinforcing the economy's surprising resilience in the fourth quarter.

Benzinga

The White House Has A New Enemy: Fuel Economy

Plus, we discuss electric vehicle sales in November and why South Korea is stressed about Tesla's Full-Self Driving software.

InsideEVs

From analysis to the latest developments in health,
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Expensive data and poor internet access: South Africa fails to measure up against Brazil

Emerging middle-power countries like South Africa, India and Brazil face growing inequalities. At the same time, everyday lives are becoming more and more digital – from paying bills and reading news to contacting companies and services. Ways need to be found to include everyone in the online world, regardless of…

The Conversation

There are two big drivers of Australia’s economic growth – but shape matters as much as size

Income from rooftop solar panels and investment in data centres are helping to power the economy, which leads us to the question: is all growth good?

The Guardian - AU

Researchers slightly lower study's estimate of drop in global income due to climate change

Researchers who examined climate change’s potential effect on the global economy say data errors led them to slightly overstate an expected drop in income over the next 25 years

The Independent UK

Liz Truss mini-Budget torpedoed Brexit economic hopes, says expert as Labour seeks closer EU ties

The UK economy has suffered a multi-billion pound blow from quitting the European Union, according to the Office for Budget Responsibility

Evening Standard

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Iran's currency falls to a new low as nuclear sanctions squeeze its ailing economy

Iran's rial currency has fallen to a new low of 1.2 million to the U.S. dollar as nuclear sanctions squeeze the economy

The Independent UK

Cheers and alarm: 4 takeaways from the GOP's win in Tennessee

Republicans cheered the victory while fretting over the latest evidence that voters are cooling on Trump's agenda and his handling of the economy.

Axios

Chancellor Rachel Reeves accused of overstating chess championship win

Ms Reeves has used her love of the board game to promote herself as a strategic and competitive Chancellor

Evening Standard

Belgium rejects EU plan to use frozen Russian assets for Ukraine, saying the move is too risky

Belgium is rejecting a plan to use frozen Russian assets to support Ukraine's economy and war effort

The Independent UK

Trump Administration To Propose Loosening Major Fuel Economy Standards: Report

The Trump administration, on Wednesday, is reportedly planning to propose a significant relaxation of the fuel economy standards set by the previous Biden administration.

Benzinga

Myanmar opium cultivation hit highest level in a decade, UN report says

Opium poppy cultivation in Myanmar has surged to its highest level in a decade as the nation enduring a long conflict remains one of the world’s primary suppliers for the illicit drug economy

The Independent UK

Martin Shkreli Warns Elizabeth Warren And Zohran Mamdani Policies Would Make US Stock Returns Resemble France, Japan's Dismal Performance

While comparing U.S. equity market returns over the past 35 years with those of France and Japan, investor Martin Shkreli issued a sharp warning regarding the growing influence of progressive lawmakers on the nation’s economy.

Benzinga

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The Guardian - AU

Australian economy crawls back into growth mode thanks to datacentre boom and household spending uptick

Analysts say national accounts figures show how far the economy has come, with annual GDP growth hitting 2.1% compared to 0.8% this time last year

The Conversation

Australian economic growth is solid but not spectacular. Rate cuts are off the table

Australia’s economy grew by a softer-than-expected 0.4% in the September quarter, slowing from 0.6% growth in the June quarter. It confirms the recovery is tracking forward but without strong momentum.

Benzinga

Chuck Schumer Says The Only 'Hoax' Is Trump's Repeated Lies About The Economy Amid Soaring Grocery, Housing And Utility Prices: 'We All Feel The Pain'

Senate Minority Leader Chuck Schumer (D-N.Y.) slammed President Donald Trump’s latest claims regarding the economy amid soaring prices of key essentials under his administration.

Evening Standard

Keir Starmer to face PMQs amid continued Budget questions

The OECD has warned tax hikes and reduced spending will act as a ‘headwind’ to the UK economy over the next two years.

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International Business Times

BoE Eases Bank Capital Requirements for the First Time Since 2008

The Bank of England has eased bank capital rules for the first time since 2008. Here's what it means for borrowing, savings and the wider economy.

The Conversation

Gaza’s once-growing economy is nearing total collapse

Gaza is going through one of the most severe economic collapses the world has seen in modern times. According to a UN report published in late November, the average income per person there is now just US$161 (£122) a year. Before 2007, when Israel imposed a blockade of Gaza after…

International Business Times UK

BoE Eases Bank Capital Requirements for the First Time Since 2008—What It Means for You

The Bank of England has eased bank capital rules for the first time since 2008. Here's what it means for borrowing, savings and the wider economy.

AAP

Australian economy builds as investment roars back

Australia's economic growth rate came in below market expectations, but a strong domestic pulse shows the economy is in good shape.

The Independent UK

Government to allow flat rate tourist tax

The visitor levy gives councils the power to tax stays in hotels and other accommodation.

Fortune

The trade war was never going to fix our deficit

Trump's tariffs won't alter the trajectory of our national debt or entitlements. For the economy's sake, the Supreme Court should end this abuse of power.

The Independent UK

Despite US trade war, EOCD expects global economy will grow 3.2% this year

The world economy has proven surprisingly durable in the face of President Donald Trump’s trade wars, the Organization for Economic Cooperation and Development said Tuesday, upgrading its outlook for global and U.S. economic growth this year

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