Too young to retire but at risk for Covid, older Americans struggle to find work

Despite reports of US worker shortages, people who are less than five years from retirement are facing a lack of employment options Elaine Simons, a 61-year-old substitute art teacher in the Seattle, Washington area, was on a 10-month contract and hoping to settle into a more permanent role at the school where she was […]

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UK government borrowing falls but debt interest payments hit December record – business live

Rolling coverage of the latest economic and financial news UK borrowed £16.8bn in December, less than economists expected Fourth-highest December borrowing on record Interest payments on central government debt were £8.1bn, a December record Higher inflation pushed up debt repayment costs US stock markets see another wild day amid concerns over Fed and Ukraine […]

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McKinsey: fundamental transformation of global economy needed for net zero

$9tn of annual investment required to avoid most catastrophic climate impacts, consultancy says Reaching net zero climate emissions by 2050 will require a “fundamental transformation of the global economy”, according to a report by McKinsey, one of the world’s most influential consulting firms. It estimates that $9.2tn will need to be invested every year […]

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If Jeremy Grantham is talking about a US ‘superbubble’, we should listen

The Boston-based fund manager has hard-to-deny evidence to back up his prediction of a ‘wild rumpus’ Jeremy Grantham’s warning that share prices are heading for a mighty fall is just part of the new year financial calendar, say his critics. On this occasion, however, the British co-founder of Boston-based fund manager GMO and highly […]

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Australia’s economic outlook for 2022: is our debt-fuelled pandemic finance party over?

Some near-term nasties loom on the horizon, but larger threats are geopolitical and difficult to predict Get our free news app; get our morning email briefing Follow our Australia news live blog for the latest updates Financial news has started to turn negative, both at home and abroad. Is the debt-fuelled party that has […]

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Global stock markets dive as fears of Ukraine conflict rattle investors

European markets slide to lowest levels since October with New York and London also hit Global stock markets have fallen sharply as fears of military conflict in Ukraine sent shares sliding. European markets tumbled by 4% to their lowest levels since October, after Nato said it was reinforcing its eastern borders with land, sea […]

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UK business growth hits 11-month low as Omicron chills service sector

Hospitality, leisure and travel businesses feel impact of Covid variant in January The UK economy grew at its slowest pace in almost a year in January as hospitality, leisure and travel businesses felt the impact of the Omicron variant. The monthly flash PMI (purchasing managers’ index) estimate of activity from IHS Markit and the […]

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Scrap national insurance rise, says ex-minister David Davis

Former Brexit secretary last week called for Boris Johnson to resign over alleged breaches of Covid rules Former Conservative Cabinet minister David Davis has called for the planned tax rise hitting national insurance contributions to be scrapped as a cost-of-living crisis looms, adding further pressure on the government. National insurance contributions, which are paid […]

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