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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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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Rising tax receipts partly offset by surge in interest payments on the £2tn national debt The government borrowed almost £17bn to balance its books last month – the fourth highest December total on record – as the public finances felt the impact of sharply rising inflation. Rising tax receipts were partly offset by a […]
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$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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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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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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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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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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Shares fall by nearly 30% in early trading as company is hit by staff absences and chip shortages The banknote printer De La Rue has issued a profit warning after suffering from higher Covid-19 costs including staff absences and computer chip shortages. The company’s adjusted operating profit for the year to 26 March will […]
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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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