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The Latest Breaking News on Economy

Nigeria's Tinubu Signs Major Tax Overhaul

Nigerian President Bola Tinubu on Thursday signed four landmark bills into law aiming to overhaul the country's tax system, after backing away from more controversial tweaks that would have upended revenue sharing among states.

International Business Times

US Recession Risk Rises As Leading Economic Index Falls Again In May: 37 Declines In 39 Months Mark Worst Streak Since 1960

The Conference Board Leading Economic Index fell 0.1% month-over-month in May, marking its sixth consecutive monthly decline and signaling intensifying recession risks for the U.S. economy.

Benzinga

Queensland state budget 2025: five key takeaways

A looming wage fight, the end of the coal boom and a shared equity scheme for first home buyers is on the cards

The Guardian - AU

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World Bank grants South Africa a $1.5B loan for infrastructure upgrade and green energy transition

South Africa's National Treasury says the World Bank has granted South Africa a $1.5 billion loan to upgrade transportation infrastructure and help it transition toward a low-carbon economy

The Independent UK

Younger workers in England face ‘place-based’ pay penalty, study warns

The study analysed earnings data spanning all early-career workers in England, covering more than 11 million individuals.

The Independent UK

Future focus as inflation blare dims but change needed

Ahead of delivering his third budget, NSW Treasurer Daniel Mookhey says changes are required to ensure the state can "hold on to what we love".

AAP

Big-spending budget raises questions over living relief

A cash splash from the nation's richest state is targeting housing supply and health but critics say there should have been greater cost-of-living relief.

AAP

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Labour market stays tight despite surprise drop in jobs

The economy lost some jobs in May, confounding expectations, but the Reserve Bank will likely view it as noise not signs of a weakening labour market.

AAP

Australia slides down economic competitiveness rankings

Poor productivity is hobbling Australia's efforts to attract global talent, as the federal government details its plans to get the country building again.

AAP

Dollar slides to three-year low while FTSE 100 hits record high

Investors turn away from weakening US economy and erratic policy after Trump repeats tariff threats

The Guardian - UK

Business, union divisions threaten to derail PM summit

The prime minister hopes business groups and unions will unite to address a lagging economy but there are already signs of division before a planned summit.

AAP

Economic summit aims to firm up drooping productivity

Anthony Albanese is confident businesses and unions can find common ground in the quest to improve Australia's ailing productivity.

AAP

Are we heading for a recession? Show me your nails

Who needs boring old facts and figures? According to a host of entirely authoritative influencers, changing tastes in manicures can tell us all we need to know about the economy, says Arwa Mahdawi

The Guardian - UK

Economy stalls as private sector fails to pick up slack

More rate cuts might be needed to boost Australia's fragile economy with soft household consumption figures contributing to stalled growth.

AAP

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AAP

Credit rating downgrade cost unknown for debt-hit state

No research has been done on how much interest repayments on spiralling state debt would soar from a possible credit rating downgrade.

AAP

National accounts to reveal Australia's economic pulse

Australia's economic growth rate for the first quarter will be revealed this week and investors will study minutes from the Reserve Bank's last board meeting.

The Guardian - UK

In Hong Kong, my daughter was dazzled by futuristic tech – and I glimpsed the world she’ll grow up in

When I was young, Britain felt like the apex of global civilisation. But as power migrates to autocracies, our belief in democracy seems complacent, says Kojo Koram, a teacher at Birkbeck School of Law

The Independent UK

Downturn across UK firms stretches into May despite tariffs respite

While the UK’s largest sector, services, returned to growth, the manufacturing sector fell at the fastest rate since October 2023.

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International Business Times

Third Time Lucky? South Africa Presents Revised Budget

South Africa's finance minister presented Wednesday a third version of the 2025 budget after being forced to backtrack on a proposed increase in value-added tax that threatened to split the coalition government.

The Guardian - AU

Victoria state budget 2025: treasurer uses public service cuts and GST windfall to fund cash splash

Labor’s 2025-26 budget includes more money for health, education and $2.3bn in cost-of-living measures

AAP

'Wafer-thin' budget surplus won't fix debt problem

One unforeseen event would likely erode a state's long-awaited return to surplus, as its treasurer attempts to tame mounting debt in her first budget.

International Business Times

Merz Vows To Rev Up German Economic 'Growth Engine'

German Chancellor Friedrich Merz on Wednesday pledged reforms and investment for Europe's biggest economy to transform it once again into a "growth engine" after two years of recession.

The Guardian - AU

Price says some Liberals still back nuclear – as it happened

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The Guardian - AU

Labor wants to boost productivity. Does this mean Australians need to work even harder?

Productivity is down and it’s hurting the economy and your salary. Here’s how treasurer Jim Chalmers plans to try and fix that

The Guardian - UK

We all know the crisis in UK social care damages lives and the economy: it’s the Treasury we must convince

There are real costs to not tackling this grievous problem. But, as we report today, the data we need doesn’t seem to exist, says Layla Moran, chair of the health and social care select committee

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