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Australia news live update: Dylan Alcott is Australian of the Year; Invasion Day protests planned; NSW to record millionth Covid case

Gina Rinehart among record number of women to receive Australia Day honours as the Aboriginal Tent Embassy marks ‘50 years of resistance’. Follow all the day’s news

Tennis star and.. - source: The Guardian - 25.01.2022

Inflation and Omicron will dent world growth in 2022, says IMF

Global growth downgraded to 4.4% as body predicts especially marked slowdown for US and China

The International Monetary Fund has sharply cut its growth forecast for 2022 with a warning.. - source: The Guardian - 25.01.2022

UK factory costs rising at fastest pace since 1980, CBI says

Survey finds labour shortages driving ‘intense and escalating cost and price pressures’

Cost pressures for Britain’s factories are growing at their fastest pace since 1980 as.. - source: The Guardian - 25.01.2022

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.. - source: The Guardian - 25.01.2022

UK government borrows almost £17bn in December as inflation soars

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.. - source: The Guardian - 25.01.2022

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 expectedFourth-highest December borrowing on recordInterest payments on.. - source: The Guardian - 25.01.2022

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.. - source: The Guardian - 25.01.2022

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.. - source: The Guardian - 24.01.2022

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.. - source: The Guardian - 24.01.2022

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.. - source: The Guardian - 24.01.2022

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.. - source: The Guardian - 24.01.2022

Fears grow that US action on inflation will trigger debt crisis

Poor country repayments to creditors are running at highest level in two decades

Fears are growing that action by the US central bank to combat high inflation will trigger a fresh debt.. - source: The Guardian - 23.01.2022

Hopes shattered as banks fail to pass on interest rate rise

The Bank of England upped the base rate to 0.25% in December, but since then only a handful of savers have felt the benefit

The recent unexpected rise in interest rates could have been the.. - source: The Guardian - 23.01.2022

Britain’s welfare system ‘unfit for purpose’ with millions struggling, experts warn

Two-year study reveals households are being ‘battered again and again’ by an ‘unfit’ welfare state that is in urgent need of reform

Britain’s welfare system is “unfit for.. - source: The Guardian - 23.01.2022

Minouche Shafik: ‘The idea that you are successful because you are hardworking is pernicious’

The LSE’s director and former Bank of England economist is outspoken over the need for a reset of the wider capitalist system

Minouche Shafik seemed destined for the top job at the Bank.. - source: The Guardian - 22.01.2022

Energy bills crisis: UK business leaders demand urgent action

CBI, BCC, IoD, Make UK and FSB say ‘rocketing’ charges will delay economic recovery from Covid

Five of Britain’s leading business groups have demanded urgent and decisive government.. - source: The Guardian - 21.01.2022

Retail sales slide over Christmas, as Omicron and inflation fears hit UK consumer confidence – business live

Rolling coverage of the latest economic and financial news

Retail sales slumped 3.7% in DecemberConsumer confidence fell in January

Retail sales fell ‘across the board’ last month after.. - source: The Guardian - 21.01.2022

British Pound Holds Ground as Risk Aversion Grips Markets Ahead of Fed Action. Will GBP/USD Break?

The British Pound has steered clear of market meltdown volatility for now as traders were spooked by Fed hikes and geopolitical risk. Where to next for GBP/USD? - source: DailyFX - 21.01.2022

UK SMEs: how is your business experiencing current levels of inflation?

We’re keen to hear how small and medium sized businesses in the UK are affected by a sharp rise in inflation and rising energy bills

UK inflation figures have risen to their highest in.. - source: The Guardian - 20.01.2022

ABF sees escalating costs for energy, logistics and commodities, as Omicron hits Primark recovery – business live

Rolling coverage of the latest economic and financial news

ABF: all businesses see inflationary pressures in raw materials, commodities, supply chain and energyPrimark sales up 36%, but.. - source: The Guardian - 20.01.2022