Bitcoin in crosshairs as EU goes after non-green crypto
The EU wants to shame the world of crypto into greener practices — and Bitcoin is first in line. The world’s most popular crypto will likely fall under a scheme
South Korea’s factory output falls in warning for global economy
South Korea’s factory production fell for a second straight month in August, a warning sign for the global economy as it faces risks from the war in Ukraine to rising interest rates.
Eurozone inflation hits record 10%, highest in the history of the euro
Inflation in the 19-member eurozone reached 10% in September, the highest it has ever been in the history of the common European currency, according to the latest flash estimate from
Sweden detects a fourth leak in Nord Stream gas pipeline
The Swedish Coast Guard has detected a fourth gas leak in one of the Nord Stream pipelines that cross under the Baltic Sea carrying natural gas from Russia to Europe. According to
‘Path to oblivion’: Ukraine military gains could deepen Russia’s economic problems
Ukraine’s military has had stunning success in recent weeks, recapturing Russian-occupied territory in the northeast and south of the country. Holger Schmieding, chief economist at Berenberg, said the recent Ukrainian
Markets spooked as UK slashes taxes and boosts borrowing
LONDON — U.K. Chancellor Kwasi Kwarteng signaled a sharp change in British economic policy Friday as he cut taxes, pledging a “new era” focused on boosting growth. Markets reacted dramatically
The world’s largest carbon removal project yet is headed for Wyoming
A couple of climate tech startups plan to suck a hell of a lot of carbon dioxide out of the air and trap it underground in Wyoming. The goal of
Bank of Japan keeps ultra-low rates despite US Fed tightening
The Bank of Japan has maintained ultra-low interest rates and dovish policy guidance as it seeks to reassure markets that it will continue to swim against a global tide of
Africa Seeks Public-Private Investments to Help Combat Climate Change
Rabat- Africa faces an uncertain future with the impacts of climate change ahead. While the continent’s citizens are still unsure about the consequences of the climate crisis, the solution to
Bank of England and new UK government risk policy clash
LONDON, Sept 15 (Reuters) – The Bank of England and Britain’s new finance minister Kwasi Kwarteng will test their ability to jointly manage the economy next week, with the BoE
California files lawsuit against Amazon for blocking price competition
The US state of California filed a lawsuit on Wednesday against online shopping giant Amazon for allegedly violating antitrust laws by blocking price competition. Rob Bonta, the Californian attorney general,
Queen’s funeral could push U.K. into ‘technical recession’: economic forecast
The death of Queen Elizabeth II could be the blow that sends the United Kingdom’s already-strained economy into a “technical recession,” according to one economic projection, as some Canadians also ring warning
European Central Bank could unleash a jumbo rate hike as the economy slides toward recession
FRANKFURT, Germany — The European Central Bank is expected to frontload a series of rate hikes and sacrifice growth in the region due to the rising cost of living which
Is Russia’s economy really hurting?
Russia’s economy was predicted to collapse after Western countries imposed unprecedented sanctions on Moscow over the war in Ukraine. But last week, the Russian statistics bureau Rosstat said gross domestic
After record floods, now Pakistan has to worry about economy
Islamabad, Pakistan – Tanveer Aziz Kingrani was planning to spend August preparing for his term examinations at the University of Sindh. Instead, the 23-year-old aspiring physicist has been camping out in
World close to hitting four climate “tipping points,” new research warns
Even if the world somehow manages to limit future warming to the strictest international temperature goal, four Earth-changing climate “tipping points” are still likely to be triggered with a lot
Sterling suffered its worst month since Brexit, and analysts expect it to ‘plumb new depths’
LONDON — Sterling in August suffered its sharpest monthly fall against the U.S. dollar since the aftermath of the Brexit referendum, as political uncertainty and a historic cost-of-living crisis weigh
India’s status as world’s fastest growing major economy to be short-lived
BENGALURU, Aug 29 (Reuters) – India likely recorded strong double-digit economic growth in the last quarter but economists polled by Reuters expected the pace to more than halve this quarter
Two-thirds of UK households to be in fuel poverty by the new year, according to new report
People living in the poorest and coldest regions of the UK will be the worst affected along with those who are already most likely to be struggling with the cost
Global fish stocks can’t rebuild if nothing done to halt climate change and overfishing, new study suggests
Global fish stocks will not be able to recover to sustainable levels without strong actions to mitigate climate change, a new study has projected. Researchers at UBC, the Stanford Center
UK energy bills to rise by 80% in October as regulator announces hike
LONDON — Britain’s energy regulator announced Friday it will raise its main cap on consumer energy bills to an average £3,549 from £1,971 a year, as campaign groups, think tanks
Goods Barometer points to stagnating global trade growth
The Goods Trade Barometer is a composite leading indicator for world trade, providing real-time information on the trajectory of merchandise trade relative to recent trends. The latest reading of 100.0
French minister demands probe into TotalEnergies’ reported links to Russian army refueling
French Transport Minister Clément Beaune on Thursday called for an investigation on whether gas exploited by oil giant TotalEnergies has been used to fuel fighter jets used by the Russian
Ukraine battles to avoid hyperinflation as war costs soar
As the war against Russia enters its seventh month on Wednesday, Ukraine is stuck between a financial rock and a hard place as it seeks to stay afloat while fighting off Moscow’s invading forces. Tax revenues have
The petrochemical industry is convincing states to deregulate plastic incineration
The petrochemical industry has spent the past few years hard at work lobbying for state-level legislation to promote “chemical recycling,” a controversial process that critics say isn’t really recycling at
Chinese tech giants hand over algorithms as Beijing tightens internet controls
Dozens of technology companies have submitted their proprietary algorithms to China’s internet regulator in recent weeks, including Alibaba, Tencent and Weibo, according to official documents. The move comes after the
Brussels prepares diplomatic offensive to stop the advance of China and Russia in Latin America
The European Union is alarmed at the advance of Russia and China, in the countries of Latin America, a region traditionally linked in political and economic terms to the West.
UK’s COVID heroes among hardest hit by cost of living crisis
t the height of the pandemic, as hundreds were dying each day, Ivan Andino was travelling across London on a crowded Tube carriage to clean an empty office. Ivan works
Jailed Australian economist testifies in secretive Myanmar trial
An Australian academic and economic adviser to Myanmar’s elected leader Aung San Suu Kyi, who was detained after the military seized power last year, has testified in a military court
Spain bans setting the AC below 27 degrees Celsius
A decree published on Tuesday morning in the official state gazette and scheduled to go into effect next week mandates that air conditioning in public places be set at or
Germany’s 9-euro transport ticket drives up train trips
A ticket allowing people unlimited travel on Germany’s trains and buses for just €9 ($9.28) a month has led to a large uptick in train trips, particularly in rural and tourist areas,
How the soaring cost of living is impacting asylum seekers
For asylum seekers, who are given a paltry sum to live off by the Home Office, rising prices are set to make a desperate financial situation even worse. UK inflation
It appears Truss has a problem with solar panels but not with fracking
Liz Truss has set out her energy plans and they might not seem the most likely to meet our net zero targets. Speaking to the TalkTV hustings in Exeter, Foreign Secretary Ms Truss revealed
Amazon’s emissions increased dramatically last year despite carbon neutrality goal
Despite the company’s commitment to decrease its carbon footprint, Amazon’s emissions grew by 18 percent last year, according to the annual sustainability report it released today. While online shopping increased during the pandemic’s second
What 21 billion Facebook friendships say about the economic ladder in the US
Meta publicly released information on 21 billion Facebook friendships as part of a research project looking at economic inequality in the United States, the company announced today. Along with new insights
UK central bank raises interest rate, warns of recession
The pound sterling dropped on Thursday after the Bank of England upped interest rates by the biggest increase in 27 years. At the same time it delivered the rise in
Another big Fed rate hike is here to battle inflation. Economy hangs in balance
With prices rising at their fastest pace in a generation, the Federal Reserve is ratcheting up its fight against inflation. On Wednesday, the Fed raised its benchmark interest rate by
Economic instability blamed for decrease in food & drink dealmaking
Soaring inflation and economic instability has weighed on UK food and drink dealmaking, with the past quarter seeing the lowest number of deals completed since the depth of the Covid
Could Nancy Pelosi’s Visit to Taiwan Set Off a War?
To go or not to go? That’s the billion-dollar question for House Speaker Nancy Pelosi, the third-most senior U.S. official, whose reported trip to Taiwan next month has spurred threats of a
Rich countries broke climate finance promise, says OECD
Rich countries broke their main climate promise to developing nations, the Organization for Economic Cooperation and Development confirmed Friday. In 2009, high-income countries pledged to deliver $100 billion a year
How 40C heatwave vapourised millions of pounds from UK economy
The UK recorded its highest temperature ever on Tuesday, exceeding 40C (104F), and prompting a refocus on climate change as the heatwave gripping Europe intensifies. According to the Met Office a record
Amazon buys into health care market for $3.9 billion cash
Seattle-based Amazon on Thursday announced its purchase of established primary health care provider One Medical. The deal reportedly cost Amazon $3.9 billion in cash ($18 per share / $76.8 premium). This would
Is the dream of clean and unlimited nuclear fusion energy finally within reach?
The Sun has fueled life on Earth for billions of years, creating light and heat through nuclear fusion. Given that incredible power and longevity, it seems there can hardly be a better
Good News: Economy Sucks, You’re Screwed, and It’s All Your Fault, Economists Say
Good news everyone: wage increases are slowing, raises are getting smaller, layoffs are beginning to happen, and inflation is all your fault. And you should be grateful about all of
Nature is in crisis. A UN report says short-sighted economics is to blame.
When governments make decisions, economic considerations often trump everything else — human well-being, social connections, the health of the environment. According to a new report from the United Nations, this
Closing the gender gap for women could help economies out of crisis. Here’s how
The current recession, unlike past economic slumps that have tended to be worse for men, is disproportionately bad for women. It comes after a period where the COVID-19 pandemic and
Sri Lanka’s crisis is not just about the economy, but a long history of discrimination against minority groups
Sri Lanka is in the grip of an economic, political and humanitarian crisis. In a remarkable display of anger on Saturday, thousands of protesters disregarded government curfews, rampant military and
China’s economy slows sharply, fanning global recession fears
China’s economy grew at the slowest pace since the start of the COVID-19 pandemic in the second quarter, highlighting the punishing economic toll of Beijing’s stringent “dynamic zero COVID” strategy.
Euro falls to 20-year low against US dollar and approaches parity
The possibility that a US dollar and a euro will be worth exactly the same is getting closer to becoming a reality. The single currency suffered further falls this Tuesday
US weighs restructuring Trump-era China tariffs to fight inflation
US President Joe Biden’s administration is looking at whether to cut tariffs on some Chinese imports in a bid to ease inflation, the White House said on Tuesday. Four years ago, former US President Donald Trump imposed
Why sustainability is emerging as the key bellwether of Web3
In April, the largest land rush in the brief history of the metaverse raised approximately $320 million from the sale of 55,000 parcels of virtual land in Otherside, an immersive world created by
As natural gas prices soar, coal makes a comeback in Europe
A report from Bloomberg lays out the ways that natural gas is now affecting not only the world’s carbon future, but our present geopolitics and international economy. The price of the ostensible bridge
G7 and Nato summits lay bare deep and hostile divide between Russia and China and the west
Against a backdrop of unprecedented turmoil – the first major war in Europe in three decades, the highest inflation rates in decades and a rapidly worsening global food crisis – western leaders have met for two
The Supreme Court’s EPA decision could have been much, much worse
On Thursday morning, the U.S. Supreme Court handed down its long-awaited decision on West Virginia v. EPA, the case challenging the Environmental Protection Agency’s authority to regulate greenhouse gas emissions from
Worker-Owned Apps Are Redefining the Sharing Economy
Ken Lewis moved from Grenada to New York City in 1989 at a time when he says employment options for immigrants were limited. “You either got into construction or drove
UK economy faces double threat of inflation surge, recession risk
LONDON, June 29 (Reuters) – Britain’s economy is struggling under the strain of two major risks in the form of double-digit inflation and a possible recession, leaving the Bank of
Creating a wellbeing economy
Measuring economic, social and environmental prosperity. A new monitor will help inform policy decisions to reduce Scotland’s vulnerability to future financial and environmental shocks, helping build a more prosperous, resilient,
EU leaders talk economy as Russia slashes gas supplies
Leaders of the European Union’s 27 member states are meeting for the second day of a summit on Friday to address the bloc’s inflation-hit economy. The first day of the summit
Digital transformation could grow EU economy by €2.8 trillion
The European Commission (EC) has proposed a bold vision for Europe’s digital transformation by 2030. According to a new study by Public First — Unlocking Europe’s Digital Potential — the EC’s Digital
UK to be major economy worst hit by Ukraine war, says OECD
Britain’s economy is forecast to slow to a standstill next year as it suffers more than any other major industrial country from the effects of Russia’s invasion of Ukraine. The UK
Chances of recession in Britain in next two years have increased, J.P. Morgan economists say
LONDON, June 16 (Reuters) – The Bank of England stuck to its gradual increases in interest rates on Thursday, as other central banks took more urgent action, but said it
Why investors suddenly care about saving the environment
Here’s a big number: $44 trillion. That’s how much of the world’s total economic output is dependent on animals and ecosystems, according to the World Economic Forum. Insects pollinate commercial crops, coral reefs protect coastal
Inflation is expected to remain high later this year even as the economy slows and layoffs rise
Kat Johnston didn’t expect the pandemic to make her less stressed about her finances. After all, she temporarily lost her job at the library where she worked full time. But,
Fifth consecutive hike as interest rate raised to 1.25% by Bank of England
The Bank of England has raised interest rates for the fifth time in a row to 1.25% and set the scene to act more “forcefully” ahead because of a mounting
Climate versus cost: what does the UK’s energy crisis tell us about the economics of net-zero in an energy-scarce world?
The UK is in the grip of a fierce cost-of-living crisis. In May, the country’s inflation rate hit a 40-year high of 9%, and although the current crisis is global, the
The ugly economics behind Apple’s new Pay Later system
Apple is getting into the “buy now, pay later” (BNPL) business with its new Pay Later service built into Apple Pay and Apple Wallet. While Apple bills the service as “designed with
Economists Aren’t Doing Much Economics These Days
Arnold Kling notes in a blog post that the recent issue of the Journal of Economic Literature, a prominent peer-reviewed econ journal, is largely sociology. He links to a different blog post by Florida State
Beyond Sri Lanka, economic cyclone bears down on South Asia
MUMBAI — For over a decade, Mattias Martinsson has been investing in frontier economies, including Pakistan, Bangladesh and Sri Lanka. Now, he says, South Asia is “in the eye of
Is ‘Greedflation’ Rewriting Economics, or Do Old Rules Still Apply?
There are few good things about living through a period with the highest inflation in four decades, but here’s one: It’s a chance to re-examine what happens in an economy
Labour shortages: the ‘most urgent problem’ facing the UK economy right now
Anyone going on a UK break this month would do well to book pubs and restaurants well in advance, said The Sunday Times – and even if they get a table, they
Immigration raids are being carried out with impunity
In the years between 2017 and 2021, almost all immigration raids were conducted without a warrant a new Huck investigation has found. While having a shower one morning, Maria*, who
Most landlords still using ‘no-fault evictions’ government vowed to ban
More than two-thirds of landlords in England who kicked tenants out in the last year used so-called no-fault evictions, new research reveals – as the government continues to drag its
A new coalition is placing a big bet on carbon removal technology
As global emissions continue to rise, the idea that the world will likely overshoot its climate targets is increasingly becoming a reality. In response, a growing contingent of companies have
Here’s how much it could cost to rebuild Ukraine — and who would pay for it
Russia’s invasion of Ukraine has already destroyed billions of dollars’ worth of infrastructure, blocked exports from key Black Sea ports and displaced more than 12 million people. The World Bank
Notes from Iceland: How the blue economy can drive value and cut waste
Iceland is forging a model for the ‘blue economy’ that has driven down waste and enhanced the value of fish. Supported by a vibrant innovation ecosystem, the seafood sector is
UK economy is ‘grinding to a halt’ amid cost of living crisis
The UK economy is “grinding to a halt” as a tightening cost of living squeeze sends a chill through private sector activity, reveals a closely watched survey. Households are cutting
How ‘USA-first’ failed the solar industry
The economic theory behind solar tariffs is simple: Solar cells and panels made abroad are often cheaper, thanks to lower manufacturing costs and generous government subsidies from countries like China.
How tech rebooted economics and platforms broke the invisible hand
Growing evidence and new research explain the evolution of economic diversity and the need to rethink monopolies in the age of technology. A cursory glance at the myriad apps and
Four-day work week: How competitive is mental health?
The Brussels economic policy crowd seems to be positively inclined towards the idea of a four-day work week if a recent debate at the Brussels Economic Forum is anything to
The Hidden Hostile Environment in the Fishing Industry
When Emmanuel* came to work in the UK, the conditions on the boat were the worst he had ever seen. Having grown up around fishing in Ghana, for him it
China’s uncertain wheat harvest engenders fear for global economy
Deluges and strict lockdowns in China have disrupted farming in a way that country’s winter wheat harvest next month remains one of the big uncertainties in a global economy that is already struggling with high commodity
Sri Lankan power family falls from grace as economy tanks
NEW DELHI — With one brother president, another prime minister and three more family members cabinet ministers, it appeared that the Rajapaksa clan had consolidated its grip on power in
UK economy ‘one of the most vulnerable’ in the world right now due to mortgage trends
There’s an economic idiosyncrasy in the U.K. that makes it “one of the most vulnerable countries in the world right now,” according to an investment strategist. Mike Harris, the founder
Northern Irish economy outperforming UK thanks to Brexit protocol
BELFAST — The post-Brexit trade protocol is helping, not hurting, growth and profitability in Northern Ireland because of its advantageous access to EU markets, according to a British economic think
Training, role models and entrepreneurship opportunities benefit families in Niger
To combat global poverty, social programs that not only provide cash to families — but also address psychological and social obstacles to seizing economic opportunities — can have a beneficial
China’s difficult balancing act: Achieving zero-Covid policy and economic growth
If you want to make God laugh, tell him your plans, so the joke goes. And the Chinese Communist Party (CCP) has announced them loud and clear. In 2022, the
No, Republicans Aren’t Better at Managing the Economy Than Democrats
In the first-ever televised debate between vice presidential candidates in 1976, Kansas Republican Robert Dole deflected a question about his running mate Gerald Ford’s pardon of Richard Nixon by accusing the Democrats
Scotland suffering ‘cost of living with Westminster crisis’ amid stark Brexit inflation report
SCOTLAND is suffering a “cost of living with Westminster crisis”, it has been claimed, after stark reports revealed the full impact of Brexit on soaring inflation and food prices. The trade agreement between the
Attention economy slowdown
After two years of unprecedented growth in social media and streaming, a post-pandemic reality is beginning to set in. Why it matters: Huge revenue gains during COVID inspired media and tech
China’s Politburo pledges support for economy
EIJING, April 29 (Reuters) – China will step up policy support for the economy, including its embattled internet platforms, as domestic COVID-19 outbreaks and the war in Ukraine raise risks,
Possibility of ‘large’ economic shocks in future, Yellen warns
US Treasury Secretary Janet Yellen said Thursday the global pandemic and Russia’s invasion of Ukraine highlight the possibility of big economic shocks in the future, adding that downturns are “likely
Euro Zone Barely Grows as Germany Dodges Recession: GDP Update
Economic expansion in the euro zone began 2022 on a weak footing — underscoring the damage from soaring energy costs and worsening supply snarls following Russia’s invasion of Ukraine. Output
How four big industries are driving the exploitation of our oceans
The world’s first offshore wind farm opened off the coast of Lolland, Denmark, in 1991. Since then, the global installed capacity has grown to nearly 35 gigawatts – enough to power
Economic growth slows as cost-of-living crisis dents optimism
The UK economy grew at its slowest pace for three months as companies saw a marked slowdown in business in the first half of April, according to new data. The
Experts mull Islamic digital economy’s future and challenges
EDDAH: Saudi Arabia was fast reaching its goal of becoming the global hub for Shariah-compliant investment, amid challenges of aligning the growing industry securely with the latest digital technology. These
Sri Lanka’s economic crisis exposes gaps in renewable energy push
It is hard to know how much Sri Lankan forest has been cut down as fuel shortages force people to use firewood to cook: inspectors have halted deforestation patrols because
The UK’s longest gig economy strike isn’t letting up
Now lasting for over 100 days, food couriers in Sheffield are continuing to lead a strike in protest of their pay cut. It’s unusually cold in Sheffield. The sunrise on
Rich countries are illegally exporting plastic trash to poor countries, data suggests
At the beginning of last year, 187 countries took steps to limit the export of plastic trash from wealthy to developing countries. It’s not working as well as they hoped.
Britain to become gas ‘bridge’ to Europe
Britain is set to be a “transit” country for natural gas supplies to Europe this summer as the continent scrambles to ditch its dependency on Russian reserves. National Grid has predicted
Native American economy leads rural communities
AILSA CHANG, HOST: All right. We’re going to take a moment now to look at the state of the Native American economy. A new series running on the website Indian
Lebanon’s economic crisis creating ‘lost generation’ of children
Lebanon’s economic crisis, which is massively impacting the country’s education and health sectors, has created a “lost generation” of children who have been “robbed of an education”, the deputy representative
China’s all-weather friends in deep economic crisis
The two countries are caught in the Chinese debt trap with Beijing demanding further concessions for rescheduling the debt like demanding that Colombo give permission for Oceanography in South Sri
Russia’s Tragic Failure to Reform Its Economy
Russia’s invasion of Ukraine and resulting sanctions will likely devastate Russia’s economy. If the country had taken a more productive economic course over the past two decades, it might be
One in five bankers claims non-dom tax status
More than one in five top earning bankers has benefited from non-dom status, according to a new LSE and University of Warwick report. Non-doms also make up a sizeable share
Darkening sentiment a ‘major concern,’ ECB’s chief economist says
FRANKFURT – The latest drop in economic sentiment is a major concern, suggesting the eurozone economy could suffer a massive hit from Russia’s war against Ukraine, according to European Central Bank
German economy minister raises warning level for gas supplies
German Economy Minister and Vice-Chancellor Robert Habeck on Wednesday triggered the early warning level for gas supplies as Moscow continues to demand to be paid in rubles. This move is
China’s economy hit by double whammy in March
BeijingActivity in Chinese manufacturing and services simultaneously contracted in March for the first time since the height of the country’s Covid-19 outbreak in 2020, adding to the urgency for more policy intervention to stabilize the
Why did a popular UK news site run anonymous propaganda about Russian oil?
A popular UK news website has launched an internal review over its decision to run a flattering anonymous article about BP’s investment in a Russian state-owned oil firm. The website,
New Rich List Reflects China’s Shifting Economic Policies, Experts Say
Beijing’s crackdown on high-profile market sectors like tech is upending share prices and forcing a radical reranking of China’s really, really rich as the government changes its economic focus to
Charities face £2bn income dip in the wake of spring statement, economists warn
The charity sector could see a £2bn drop in income, at a time when more people will be turning to the sector, according to new analysis. Pro Bono Economics (PBE)
‘Testosterone-Fueled Bear Pit’ Discourages Women From Economics
The field of economics has a “dirty secret” that’s putting women off its pursuit in academia: It’s a “testosterone-fueled bear pit.” That’s according to one of the U.K.’s most influential
Is China’s zero-Covid strategy a threat to the world economy?
More than two years on from the first cases being detected in Wuhan, China is battling the “worst Covid-19 outbreak” it has seen since the early days of the pandemic,
IEA urges ’emergency measures’ to cut oil use over supply fears
The International Energy Agency on Friday urged governments to urgently implement measures to cut global oil consumption within months following supply fears stemming from Russia’s invasion of Ukraine. The IEA
UK only major economy hiking taxes on working people during cost-of-living crunch
The UK is the only major world economy to raise taxes on working people in response to the cost-of-living crisis, new research has revealed. Labour has called on Rishi Sunak
Sri Lankan protesters demand president quit over economic crisis
Anti-government protests have roiled Sri Lanka’s capital amid demands that President Gotabaya Rajapaksa resign, as the country suffers its worst economic crisis in decades. Tens of thousands of people gathered outside the
Brexit trade deals may not deliver any ‘actual economic benefits’, MPs warn
It is uncertain whether Brexit free trade agreements negotiated by Boris Johnson’s government will provide any “actual economic benefits”, an influential committee of MPs has warned. In a scathing report released on
Why big firms are rarely toppled by corporate scandals – new research
Everyone makes mistakes. And that includes the world’s biggest companies, which are reliably prone to gaffes, errors of judgment and wrongdoing. Some of these moments could even be labelled as
Britons to be £2,500 out of pocket with record level of inflation to hit
Interest rates are also set to increase and the UK GDP will fall, according to the Centre for Economics and Business Research [CEBR]. Their report looked into the possible impact
China may warm to Japan to tackle economic slump, but faces hurdles
China may try to cozy up to Japan in the short run to curb a possible economic downturn, as President Xi Jinping has been keen to secure a controversial third
Surging inflation likely to throttle European economic recovery
Energy prices in Europe have been surging since the start of the Russia-Ukraine conflict, pushing inflation to a higher level and possibly denting Europe’s hope that its economic recovery can
UK economic growth to halve this year as domestic & global headwinds soar
UK economic growth is expected to halve this year amid soaring inflation, major tax rises, and global shocks – including Russia’s invasion of Ukraine. UK Economic Outlook – 2022 The British Chambers of Commerce has downgraded its expectations for UK GDP growth in
A transformational budget for transitional economy
India today is the world’s fourth largest renewable energy (RE) country and fifth largest in terms of installed solar capacity. In early February, solar installations crossed the 50 GW milestone,
Mental health problems cost UK economy at least £118 billion a year – new research
Mental health problems cost the UK economy at least £117.9 billion annually according to a new report published today by Mental Health Foundation and the London School of Economics and Political Science
War in Ukraine ‘to cost global economy at least $400bn in 2022’
The war in Ukraine will cost the global economy at least $400bn (£300bn) this year, according to expert projections. Global growth is set to take a significant hit but European countries will
Russia’s Economy on the Brink of Crisis After Ukraine Attack
Russia’s economy faces being plunged into a fresh economic crisis following Moscow’s move to start military action in Ukraine. The Russian ruble fell 10% to its lowest ever level against
Skills are critical, but lagging, in the race to green the economy
Workers everywhere are acquiring green skills and taking up green jobs. The share of green talent among our membership increased from 9.6 percent in 2015 to 13.3 percent in 2021
An NFT Bubble Is Taking Over the Gig Economy
Argentinian musician Frank Tavis had the life he always dreamed of. The 26-year-old was traveling the world and performing on the streets and in bars in more than 20 countries—each
Investment in languages education could return double for UK economy
An increase in secondary school pupils learning Arabic, Mandarin, French or Spanish could boost the UK economy by billions of pounds over 30 years, according to new research. The study
Migration data shows Johnson’s Brexit will not result in a high wage economy
The UK’s shift towards a more restrictive migration regime after Brexit will not deliver the “high wage” economy promised by prime minister Boris Johnson, a report shows. The analysis from
What is causing inflation? Economists point fingers at different culprits
Americans continue to experience and hear about the nation’s inflation woes: they’re seeing it fairly clearly in gas and grocery prices, and on their news feeds. The inflation rate has exceeded
The Circular Economy and Electronics
The last couple of decades have witnessed an explosion in electronic consumer products. Our lives are now full of devices from smartphones to laptops, speakers, TVs, wearables, battery packs, and chargers
Ukraine: the economic impact of tension with Russia is part of Putin’s long-term plan
Europe is facing strong economic headwinds. Record inflation, the need to recover from the pandemic, and a divided response to Russian troop deployments along the Ukraine border, all chill the February air. Whether
Worker shortage means small businesses are hiking prices at fastest pace since 1974
Researchers canvassing small businesses found that pay and price hikes are happening in tandem across economic sectors as the worker shortage persists into 2022. According to a new survey from
Africa is bringing vaccine manufacturing home
It took a pandemic for the world to learn that African countries import 99% of their vaccines. Africa has around ten vaccine manufacturers, but most do not make a vaccine’s active
Economic impacts of trucker convoy protests could be felt for months, experts warn
First Bite Treats has been through a lot in the six months since it first opened in Ottawa’s ByWard Market. Starting this year with a COVID-19 lockdown was “really disheartening,” says owner
Ethnicity pay monitoring ‘will boost economy by billions’
The figure is based on calculations by Conservative peer Baroness Ruby McGregor-Smith, who’s 2017 report into racism at work found that the UK was losing the equivalent of 1.3% of GDP every
As economy collapses, some young Lebanese turn to militancy
WADI NAHLEH, Lebanon — Two weeks before he was supposed to get married, Bakr Seif told his mother he was going out to see his fiancee and would be back
As China welcomes the world to Winter Olympics, its economy is ever more isolated from the west
As the Beijing Winter Olympics get underway, all eyes are on China. There has been lots of coverage about China’s chilly relationship in the west and its persecution of the
Humans v AI: here’s who’s better at making money in financial markets
Artificial intelligence (AI) has now closely matched or even surpassed humans in what were previously considered unattainable areas. These include chess, arcade games, Go, self-driving cars, protein folding and much more. This rapid technological progress has
Bank of England ups rates
LONDON — The Bank of England increased the key interest rate by 0.25 percent to 0.5 percent on Thursday, the first time since 2004 that it has implemented consecutive rate hikes. Of the
EU launches WTO case against China over Lithuania mistreatment
The European Union on Thursday announced it had lodged a complaint with the World Trade Organization (WTO) over China’s behavior toward EU member state Lithuania, a move Beijing has dismissed as
The Great Resignation has morphed into the Great Sabbatical
Early last year, after winding down a long-term work contract in Hong Kong and relocating to England, for the first time in 20 years, I found myself with plenty of
IMF warns China’s property stress poses spillover risk
A funding crisis battering China’s big property developers could start to shake the wider economy and global markets, the IMF warned on Friday, saying deeper reforms were needed to fully
UK’s rich and poor face similar inflation – but different economic pain
LONDON (Reuters) -Britain’s rich and poor alike are experiencing surges in inflation, official data showed on Friday, although soaring food and energy prices mean low-income households stand less chance of
The ‘potato crisis’ at the heart of Algeria’s imploding economy
Algeria is facing a multifaceted crisis, one of the most serious since the North African country gained independence in 1962. Boiling social and economic unrest has combined with continuing political
Report: ‘Throwaway global economy’ is fuelling climate change
The ‘throwaway global economy’ is fuelling climate change, according to a new report from Circle Economy, showing more than half a trillion tonnes of virgin materials have been consumed since the 2015
When it rains more, there’s less economic growth (Bad news: There’s more rain now)
Our current climate brings plenty of disastrous examples of extreme rainfall. Floods have caused death and displacement around the world, from Sri Lanka to Colombia. In Canada, British Columbia’s unprecedented heavy
Economic benefits of Premier League confirmed by report
A new study by EY highlights how the Premier League and its clubs have continued to generate widespread benefits for the economy, society and the entire football pyramid, despite the
GM’s chief economist says U.S. inflation problems will improve
General Motors’ chief economist said Thursday that she believes the country’s inflation problems are only temporary and mostly the result of supply-chain bottlenecks — not last year’s stimulus checks — and that
Freddie Mac Issued $5B in ESG Bonds Last Year
Freddie Mac Multifamily issued more than $5 billion in green, social and sustainability bonds in 2020 through its Impact Bond series for the asset class, the GSE announced this week.
Inside the UK’s longest gig-economy strike in history
n Sheffield, food delivery drivers are fighting back against one of the giants of the gig economy. On the 6 December 2021, Stuart Delivery – who are contracted to provide
18,000 people have been fined for doing what Boris Johnson did
Police in England and Wales have fined more than 18,000 people for meeting outside during the pandemic – a crime for which Boris Johnson has repeatedly escaped punishment. Black, Asian
Recovery weakening as inflation worries soar
The BCC’s Quarterly Economic Survey (QES) – the UK’s largest independent survey of business sentiment and a leading indicator of UK GDP growth – has shown the recovery stalled in the fourth quarter, with firms facing
Survey says billionaires ‘should pay for climate action’
Wealthy individuals must pay higher taxes to cover the costs of mitigating and adapting to climate breakdown, according to 70 percent of the public as revealed in a survey of
Belgian Government Workers Can Now Ignore Their Boss After Work Hours
Bosses won’t be able contact employees outside of work hours except in exceptional circumstances, according to a proposed law for civil servants in Belgium. A “Right to Disconnect” will be introduced for
Study finds economic progress is aided by longer supply chains and deeper networks
Nations and industries benefit from longer supply chains and deeper networks, which magnify the benefits of innovative improvements, according to research published in Proceedings of the National Academy of Sciences. Although
Renewed attempt to curb high levels of fuel poverty in isles
NORTHERN Isles MP Alistair Carmichael is supporting yet another legislative attempt to get more government support to those who live in fuel poverty and who are to be worst hit
Geoff Harcourt was one of Australia’s greatest economists and a link back to Keynes’s circle
Today Australia lays to rest one of its greatest economists and, with him, a rich chapter of the nation’s economic history. Obituaries are usually about the rich, famous and powerful. Outside
Changing rules for pubs causing major economic damage
The boss of pub giant Wetherspoon has accused the Government of causing “massive” economic damage over the changing restrictions for his industry. Company chairman Tim Martin called for measures to
Omicron, More Lockdowns And Other Big Economic Risks For 2022
New Delhi: The Covid years are littered with predictions that didn’t work out. For anyone looking ahead into 2022, that should be enough to give pause. Most forecasters, including Bloomberg Economics,
UW Economists Question Current Anti-Money Laundering Measures
It’s not that professors in the Department of Agricultural and Applied Economics at the University of Wyoming are involved in money laundering, but they are — sort of. Economists Chian
Trade Experts Highlight Role for AfCFTA in Economic Recovery of African Continent
An event titled, “Exploring the African Continental Free Trade Area and the Resilient Economic Recovery” and organised by the Overseas Development Institute (ODI) and Tulip Consulting, centred on exploring the resilient
Turkey’s economic gamble
Polite descriptions of Turkish President Recep Tayyip Erdoğan’s economic policies go something along the lines of “unorthodox” or “going against the grain.” Put more bluntly, his ideas appear to tap into
Germany’s new climate minister aims for green economic miracle
Once again, a German minister is planning to revolutionize his country’s economy in the face of crisis. In the post-war era, with the country’s economy in tatters, Ludwig Erhard, the
China alert to global economic risks from Omicron, but ‘financial turmoil’ of early pandemic unlikely
he new Omicron variant adds more uncertainty to the global economic recovery and China will closely follow its potential impact on trade and international supply chains, the Ministry of Commerce
World trade reaches all-time high, but 2022 outlook ‘uncertain’: UNCTAD
According to UN trade and development body UNCTAD, although worldwide commerce stabilized during the second half of 2021, trade in goods went on to reach record levels between July and September.
Development community calls for universal vaccine access
Sal (Cabo Verde) – Cabo Verde President José Maria Neves on Thursday joined the development community in calling for urgent universal vaccine access as a way to mitigate the impact
New Support for UK’s World-leading Agri-food and Drink Industry
Network of agri-food and drink attachés to be placed in key global markets to promote trade and boost exports. The Government has today announced further measures to support the UK’s
IMF revives $6BN bailout for Pakistan’s economy
The International Monetary Fund (IMF) said on Monday it had agreed with Pakistan on measures needed to revive a stalled $6bn funding programme for the South Asian country, which faces
BoE chief economist hints at rate rise but new Covid variant fuels doubts
The Bank of England appears to have move a step closer towards increasing the cost of borrowing next month after its new chief economist, Huw Pill, said the UK’s recovery from
As Virus Cases Rise in Europe, an Economic Toll Returns
Europe’s already fragile economic recovery is at risk of being undermined by a fourth wave of coronavirus infections now dousing the continent, as governments impose increasingly stringent health restrictions that could reduce
The negativity bias in news about how public money is used affects our willingness to pay taxes
To meet the public’s preference for negative content. the media tend to overreport negative news. Miloš Fišar, Tommaso Reggiani, Fabio Sabatini, and Jiří Špalek write that this negativity bias in the coverage of economic policy issues
Researchers caution global economic growth could slide into stagnation
We’ve been living in a time of unprecedented global economic growth. Depressions, recessions and other dips in the economy notwithstanding, the last century has been unlike any other before in
The child poverty rate in the U.S. is down
Inflation schminflation. Amid all the bad news about prices going up—to say nothing of supply chain woes, a still-raging delta variant, and climate change havoc—there’s a ray of economic light.
Biden will skip January’s World Economic Forum in Davos
President Joe Biden plans to skip January’s World Economic Forum in Davos, Switzerland, a gathering of global political and economic elites that many of his predecessors also chose not to
NI-RoI economic links to be examined by think tank project
Two leading think tanks have started a project to improve understanding of the economic links between Northern Ireland and the Republic of Ireland. The work involves Dublin’s Economic and Social
Friday 12th – this week’s top economic news
Emerging economies spar with U.S. over ‘carbon colonialism’ from Politico: GLASGOW, Scotland — The United States, the European Union and the U.K. drew a sharp rebuke on Thursday from developing
Friday 29th – this week’s top economic news
Wage squeeze will leave average worker almost £13,000 worse off, Sunak warned from The Guardian: The biggest wage squeeze in British economic history will leave the average worker almost £13,000
Circular economy is ‘unclear and lacks substance’, new report finds
The definition of a circular economy is ‘unclear and lacks substance’, according to a team of researchers from Lancaster University Management School, Lund University and the Royal Institute of Technology
New Zealand raises interest rates for first time in seven years
New Zealand’s central bank has raised interest rates for the first time in seven years as it tries to rein in property prices and inflation. The Reserve Bank of New
Rich countries fall $10bn short in climate finance pledges
Wealthy nations are trying to make up for a $10bn shortfall in the $100bn annual target for climate finance they were supposed to have met in 2020, according to Bloomberg.
The nation’s economic recovery is still unequal for Black workers
JACKSON, Miss. — As the delta variant crept through Mississippi this spring, Ashley Brown kept showing up at her elderly clients’ homes, arranging their medication into pill organizers, sweeping their
World Bank slashes economic recovery for Asia
East Asia and the Pacific region’s recovery has been undermined by the spread of the COVID-19 Delta variant, which is likely slowing economic growth and increasing inequality in the region,
Algeria-Morocco Rift a Blow to Africa’s Free Trade Hopes
Algerian Foreign Affairs Minister Ramtane Lamamra’s announcement on August 24, 2021 of a new break in diplomatic relations with Morocco, is another setback for free trade and free movement on
Debt ceiling fight pits corporate America against Republicans
The debt ceiling battle on Capitol Hill is pitting corporate America against congressional Republicans in a test for business groups that have historically aligned with GOP lawmakers on economic issues.
IMF board gets initial briefing on Georgieva role in China data rigging scandal
WASHINGTON – The International Monetary Fund said its executive board met on Tuesday to discuss a report prepared for the World Bank alleging that IMF chief Kristalina Georgieva pressured staff to alter data
Lord Bethell and Matt Hancock to hand over private messages
For months, Government has been refusing to hand over evidence in our challenge concerning Abingdon Health, the testing company awarded £85 million worth of contracts without competition. Yesterday we took
Six companies made £16 billion in excess profits during the pandemic
ASOS and Serco were among six companies across finance, outsourcing, retail, real estate, mining and pharmaceuticals who made £16 billion in excess profits during the pandemic. Our new report “Pandemic
Tech industry braces for skyrocketing rare earth prices
TAIPEI — Electronic hardware manufacturers are sweating as prices for rare-earth metals surge amid soaring demand and simmering tensions between the U.S. and China, the world’s most important source of
Open source software boosted the EU economy by ‘between €65 to €95 bn’ – report
Open source software boosted the European Union’s GDP by between €65 to €95 bn in 2018, a new report published by the European Commission on Monday (6 September) has shown,
UAE to invest $14 bln in UK industries, sovereign wealth fund saysv
DUBAI, Sept 16 (Reuters) – The United Arab Emirates plans to invest 10 billion pounds ($13.8 billion) in Britain over the next five years, building on the two country’s long-running
From zippers to glass, shortages of basic goods hobble U.S. economy
Her company, Diamond Brand, just launched a new line of high-end wall tents called the Liminal, thick with vents and fasteners demanded by discerning campers. But that means using lots
Asian economies hardest hit as Delta variant weighs on global growth
Global growth is slowing, the latest economic data for August has shown. The extent of the slowdown – and in some regions a contraction – depends on how governments have
SEC Threatens Action Against Coinbase
Coinbase, the “largest cryptocurrency exchange” in the U.S., revealed on Wednesday that SEC officials are threatening to sue it “over a proposed financial product that would let customers earn interest
Johnson gambles on tax hike to pay for elder care
LONDON (AP) — U.K. Prime Minister Boris Johnson announced Tuesday how he plans to keep a key election promise to grapple with the rocketing cost of long-term care for Britain’s
El Salvador Has Adopted Bitcoin As Legal Tender
MARY LOUISE KELLY, HOST: El Salvador this week officially became the first country in the world to adopt Bitcoin as legal tender. Tim Padgett of member station WLRN in Miami
Shipping, supply chain crunch could drag into 2022 as world economy awaits Delta variant shock
A supply chain crunch that was meant to be temporary now looks like lasting well into next year as the surging Delta variant upends factory production in Asia and disrupts
The Bond Taper & Why You Should Know About It
You might want to get familiar with this term because you will be hearing it a lot: the bond taper, or more widely known as just the taper. When markets
How corruption has added to Latin America’s COVID death toll
After coming down with COVID-19 in December, Vinicio Sánchez visited three health centres in a single day. At the first, a clinic in the south of Ecuadorian capital, Quito, he
Euro zone business boom roared on in August – PMI
LONDON, Aug 23 (Reuters) – Business activity in the euro zone grew strongly this month, only dipping from July’s two-decade high monthly pace, as a rapid COVID-19 vaccination drive allowed
Facebook, telecom carriers to expand undersea cable network in Africa
Facebook Inc. and some of the world’s largest telecommunications carriers, China Mobile Ltd. and MTN Group Ltd., are set to build a wider-than-earlier planned giant sub-sea cable in Africa. The companies
Brexit and Covid Add to U.K. Inflationary Pressure
(Bloomberg) — Britain’s exit from the European Union and the pandemic are adding to inflationary pressures that are starting to slow the U.K. economic recovery, two business surveys show. The
Taliban stop imports, exports from India through Pakistan’s transit routes
“We keep a close watch on developments in Afghanistan. Imports from there come through the transit route of Pakistan. As of now, Taliban has stopped movement of cargo to Pakistan,
USDA announces biggest SNAP benefits increase in program history
According to agency estimates, the boost will translate to a total of $19.7 billion in additional benefits over a one-year period. The Department of Agriculture (USDA) announced on Monday that
40 Lords reported to authorities over financial interests
Forty members of the House of Lords have been reported to parliamentary authorities, in what is believed to be one of the most wide-scale breaches of transparency rules ever reported
Turning MMT into practice
America’s growing income inequality has long needed attention. Last January, under emergency circumstances, it finally got some, in the form of a $1.9 trillion pandemic relief package. The quietly influential
Biden, “Big Three” automakers join forces on EV goals
“The future of the auto industry is electric,” President Joe Biden said in a voiceover to a video posted on Twitter Wednesday night. Automakers seem to agree with him. On Thursday,
Since 1978, CEO Pay Has Risen 1,322%. Typical Worker Pay? Just 18%
A new analysis released Tuesday by the Economic Policy Institute finds that CEO pay in the United States rose by a staggering 1,322% between 1978 and 2020—a sharp contrast to the
Four reasons why EU is staring down the barrel of a second lost decade
The eurozone’s latest economic growth figures are a little better than expected. This group of 19 EU nations grew 2.2% in the second quarter of 2021 compared to the first quarter, partly
India’s Female Labour Participation Rate Falls to 16.1% As Pandemic Hits Job Sector
Female labour participation rate in India fell to 16.1% during the July-September 2020 quarter, the lowest among the major economies, a government report said, reflecting the impact of pandemic and a widening job crisis. The percentage of women
Why Sri Lanka’s economy is in crisis
Colombo avoids a debt default, but it’s fast running out of money to pay for imports. Will the IMF provide a bailout? Sri Lanka’s finances are in a precarious state,
The Oil Industry’s New Climate Change Solution Is More Pipelines
Two controversial new projects propose laying thousands of miles of pipe through America’s Corn Belt, carrying liquid carbon dioxide across five states, from Iowa to the Dakotas, where they’d wind
Not Even Jerome Powell Gets What’s Up With the Bond Market
You’re in good company if you can’t figure out why U.S. Treasury yields are tumbling. Jerome Powell isn’t sure either. Bonds have relentlessly rallied for months, even as inflation spikes
Young changemakers for circular innovation
• 10 new cities join the World Economic Forum’s latest cohort of Circular Shapers, an initiative leveraging grassroots change to transform cities into centres of circular economy innovation. • This
Coal Mining and Indigenous Communities in India
Anti-mining protests by Adivasis, India’s indigenous communities, have in recent years drawn considerable attention. In many places across India’s mining tracts, Adivasis have been battling to protect their homes and local
Fraught G20 meeting highlights divisions
G20 environment ministers in Naples, Italy, concluded a “hard-fought summit” yesterday, reports the Financial Times, which “at times appeared to be on the brink of disintegrating”. The newspaper continues: “In the
Solar Power Buildout Would Generate Billions in Economic Benefits
Published last week in collaboration with the Initiative for Energy Justice and the nonprofit Solar United Neighbors, the report outlines the benefits of a proposal to offer solar power to 30-million homes
Why has Cuba exploded in protests?
Although she did not take part in the historic protests that rocked the entire island of Cuba on Sunday, Caridad Montes, 50, says she understands why they took place. “It’s
Europe’s elderly care problem
“You could see what was coming… and it was like your worst nightmare. Because you felt like, oh my God, I’ve never seen anything like this before,” says Eileen Chubb,
Only 2% of the pandemic recovery goes to clean energy
The huge amount of money poured into the pandemic recovery—around $16 trillion, by the latest count—could have helped launch the world on a path to cut emissions quickly enough to
Biden is targeting non-compete agreements with an executive order.
Workers of all stripes—from brewers to chefs to fast-food employees—are subject to non-compete agreements, which can restrict their ability to find new jobs or start their own businesses. The Biden
Slowing economic recovery in China is a warning sign
China’s V-shaped economic recovery from the Covid-19 pandemic is slowing, sending a warning to the rest of world about how durable their own recoveries will prove to be. The changing
South Sudan Wants to Build a New Capital in a Former Rhino Sanctuary
Despite being only 10 years old, South Sudan has already been beset by economic challenges, bitter disputes with its neighbours and the remnants of a five-year civil war that claimed almost 400,000 lives. The
A $100 billion promise holds the Paris Agreement together. Now, it’s coming apart.
For decades, rich and poor countries were trapped in a stalemate over how to deal with the carbon-dioxide coated, rapidly overheating planet. The United States and other developed countries —
Why China wants to tame its new tech giants
Maximilian Mayer thinks being among China’s richest people may not be an advantage these days. The global technology and China expert at Cologne University is convinced the country’s political leadership
Why India’s cryptocurrency boom is problematic
Indian investors are flocking to cryptocurrency like never before and the trend could be a dangerous one. Indians had parked nearly $6.6 billion in cryptocurrency until May this year, as compared
TikTok strike highlights issues of compensation and race in the creator economy
On TikTok, when Megan Thee Stallion drops a new song, a dedicated dance trend is not far behind. But that’s not what happened after the June release of her song
Funding net-zero could cost UK less than pandemic
There is widespread coverage across the UK newspapers of the latest annual report by the Office for Budget Responsibility (OBR), in which the UK fiscal watchdog focuses on both the
Sudden Deaths Reported in Canada Heatwave
‘This Is the Climate Emergency’: Dozens of Sudden Deaths Reported as Canada Heat Hits Record 121°F Dozens of sudden-death calls that Vancouver authorities have received this week are believed to be
Fall in life expectancy exposes UK government’s ‘levelling up’ lies
For a few hours on Wednesday 30 June 2021, a report released by University College London’s Institute of Health Equity hit the headlines. “‘Jaw-dropping’ fall in life expectancy in poor
Forced labour in the solar supply chain
The recent G-7 summit reaffirmed two priorities of leading democratic nations: addressing climate change and combating forced labor. Based on a new report examining evidence that links solar panel manufacturing to forced labor
Economics challenges for China’s Communist Party at 100
Shenzhen, China – Private education companies that provide extracurricular lessons to legions of Chinese children are in the crosshairs of the government, as officials seek to ease pressure on students and
The Klarna Conundrum
Whether you use Klarna all the time or have barely heard of it, it’s time to start paying attention: the buy-now-pay-later app has just become the biggest private fintech company
Global South countries come together
The Summit brings together Global South governments, political leaders, healthcare workers and vaccine manufacturers from more than twenty countries and follows criticism of the G7’s plan by U.N. aid chief
Brexit at 5: Economic arguments still a small concern
It’s been five years since the UK’s Brexit vote. The vote appalled those who saw it as economic self-sabotage. But those in favour of leaving were not swayed by economic
UK will miss climate goals by without new policies
The UK government has once again failed to come forward with sufficient policies to meet the ambition of its climate goals, according to the Climate Change Committee (CCC). Across nearly
Surging inflation in Nigeria fuels crime wave – World Bank
Surging inflation is undermining the recovery of Africa’s biggest economy, pushing 7 million Nigerians into poverty and encouraging criminality as rising prices deplete already meager incomes, according to the World
G7 Tax Reform for the 1%—Not the 99%
Despite the recent G7 agreement on corporate taxation, global leadership requires going beyond national interests to ensure that all countries have sufficient resources to develop healthier post-pandemic economies. This will
Full Employment Prioritised by Biden
Full employment is being pursued by Biden, despite repeated consultation will famously neoliberal Larry Summers. James Galbraith and Ryan Grim sit down to discuss what this means for US economic
GDP Numbers Not What They Seem
GDP growth appears positive The World Bank has added its voice to those predicting the global economy will recover faster from the pandemic than previously thought. According to its latest report,
How bankruptcy lets oil companies evade cleanup
How bankruptcy lets oil and gas companies evade cleanup rules. A battle over who is responsible for cleaning up hundreds of oil and gas rigs in the Gulf of Mexico
Child labour on the rise for the first time since 2000
Child labour has increased to 160 million – the first rise in two decades – and that number could swell by millions more because of the effects of the coronavirus
G7 Tax Clampdown & the End of Hyper-Globalization
The G7 tax agreement on global corporations still needs formal approval from a wider set of countries, and there remain many details to be worked out for it to be
UK Housing market on fire, BofE Chief warns
The UK housing market is “on fire” thanks to the extension of government tax breaks for homebuyers and increased demand from richer households with more savings following coronavirus lockdowns, the
What Did The Luddites Get Right?
Gavin Mueller’s “Why You Should be Breaking Things at Work” makes a persuasive case for the Luddites. So why have so many people—including your favorite Communist philosophers—insisted that they were
An Exodus of Women From The Workforce.
As women around the world celebrated International Women’s Day on March 8, a startling reality sunk in – there has been an exodus of women from the workforce. Forty-seven million
CEO Lobbying To End Unemployment Benefits
Restaurant lobbying groups and CEO lobbying contributed to many of the GOP governors now ending pandemic unemployment benefits. The governors parroted talking points pushed by some of their past donors:
New EU Carbon Tax – Choosing the right rate
How can the EU set a carbon tax at a rate that contributes to net zero? The European Commission is holding a meeting in June that is, on the face
Economics has a race problem
The murder of George Floyd by a police officer in Minneapolis in May 2020 sparked outrage across the world. The Black Lives Matter protests that followed brought the issues
Free Markets: Capitalism and Darwinism Don’t Mix
By Matthew Barad. Darwinism has been the foundation of the capitalism of free markets. Markets—especially the capitalist sort—are frequently imagined as ecosystems. Corporations, like wolves, clams, or algae, are locked
Circular Economy for 2050 Spain
Spain aims to achieve a circular and carbon-neutral economy by 2050, Prime Minister Pedro Sánchez announced. By 2050, Spain will be “more arid and unpredictable”, as 70% of its territory
Another IMF Loan Feared For Kenya
Kenya is suffering from a financial crisis, and the government has invited the IMF back. But those who survived the IMF and World Bank Structural Adjustment Programmes of the ’80s
Everyone Is Funding Oxygen. This Is a Problem.
As the second wave of COVID-19 rages through the country, media and global donor attention is focused on the supply of oxygen in its various forms – even as the
What the UK can teach the world about engaging with China
Covid-19 fundamentally altered the perception that the UK has of China. People in London, Edinburgh, or Belfast woke up to the reality that decisions made by a government thousands of
Research reveals a pay gap for LGBTQ workers and the cost of exclusion
The wage gaps that exist between men and women and between white and black people have received a lot of attention in recent years. But there’s another wage gap that
Study Shows ‘Intentional Policy Decisions’—Not Abstract Market Forces—to Blame for Wage Stagnation
A new report published Thursday by the Economic Policy Institute details how wage stagnation in the U.S. is not due abstract forces like technological advances and globalization, but the result
How the growing identity economy is reshaping the future of work
People no longer work just to put food on the table. In addition to funding basic needs, they work with a vision of self-fulfilment, purpose, and growth. They expect their
The UK government is using ‘levelling up’ to hide a crackdown on political dissent
Every British prime minister has a set of flagship policies that defines their legacy in office. For Margaret Thatcher, it was privatisation and deregulation. For Tony Blair, it was investment
Why Soaring Stocks Could Be Bad News For The Economy
While it’s had some ups and downs, the stock market has soared to historic heights in recent years. For many, that’s great news: It’s a sign the economy and their
Increasing droughts will drive ‘billions’ in economic losses in Europe
A new study, published in Nature Climate Change, finds that droughts currently drive around €9bn in annual economic losses across the EU and UK – mainly from damage to the
Additional 230 Million Indians Fell Below Poverty Line Due to the Pandemic
At a time when the second wave of the COVID-19 pandemic is ravaging India, a report prepared by the Centre for Sustainable Employment at Azim Premji University (APU) has highlighted
Slow Electric Vehicle Charging Is Making Drivers Switch Back to Gas
What will it take to get people to buy electric vehicles? It is one of the biggest questions facing the United States these days as we hope to make some
The secret to happy, healthy homes? Universal childcare
Prior to the COVID-19 pandemic, people in power—the primarily white male business leaders and policymakers who set the standards, policies, and cultural norms for the rest of us—didn’t think much
International cooperation and the era of digital currency growth
The COVID-19 pandemic and consequent economic crisis have indelibly altered our daily lives. One of the profound changes has been the acceleration in the shift towards digital payments, as customers avoided cash
France and Germany back US on 21% minimum corporate tax proposal
German Finance Minister Olaf Scholz and his French counterpart Bruno Le Maire have been discussing Europe’s future. A minimum corporate tax rate may well play a role in that. US