Tag: Economies

Economic Platforms of the Political Parties

Liberal Party The Liberals were the second-to-last of the main political parties to release their economic platform, but it was the only one fully costed. Costing has not yet been done for the other parties’ platforms. In addition to running up a record deficit and debt, the Liberals are prepared to spend more than $78…


UK’s Johnson Raises Tax to Fund Social Care, Breaking Election Pledge

British Prime Minister Boris Johnson announced on Tuesday he is raising taxes to pay for the cost of care for the elderly and disabled people, breaking a key election pledge. In a statement to the House of Commons, Johnson announced a new UK-wide 1.25 percent health and social care levy, which is based on National…


Bitcoin Becomes Legal Tender in El Salvador

El Salvador has become the first country to adopt Bitcoin as legal tender, a real-world experiment that proponents say will lower commission costs for billions of dollars sent home from abroad and boost financial inclusion while critics warn of risks, including around the cryptocurrency’s volatility. Lawmakers in the Central American country passed legislation in June making…


Goldman Sachs Lowers US Growth Forecast Amid COVID-19 Delta Variant And Fading Fiscal Support

Economists at Goldman Sachs Group Inc. have lowered their forecast for growth in the U.S. economy this year for a second time, citing the COVID-19 Delta variant and dwindling fiscal support and pointing to a “harder path” ahead for the American consumer than previously anticipated. In a report to clients on Monday, economist Ronnie Walker wrote…


European Banks Still Booking Profits in Tax Havens, Says Report

LONDON—Top banks in Europe continue to use tax havens to book chunks of profits, a trend that has changed little since 2014 despite country-by-country disclosures becoming mandatory, the EU Tax Observatory said in a report on Monday. The independent research body, co-financed by the European Union, said disclosures from 36 major European banks showed they…


Economic Growth Figures Mask the Real Pain of Australians Under Lockdown

Commentary Headline economic numbers do not reflect the hardship many Australians are enduring under prolonged lockdowns. The thousands of Australians who have had their jobs and businesses destroyed will find little solace in the fact the June quarter saw growth in Australia’s economy that has staved off a second official recession in two years. The…


Rigidly Configured Recruitment Software Contributing to ‘Broken’ Hiring System: HBR Report

Automated resume-scanning software that is inflexibly configured and overlooks potentially suitable workers is a major factor contributing to a “broken” hiring system in the United States, according to a new report from Harvard Business School (HBR). The HBR report (pdf), released Sept. 4, provides insight into America’s labor market dynamics, including the widely reported mismatch between…


Rigidly Configured Recruitment Software Contributing to ‘Broken’ Hiring System: HBS Report

Automated resume-scanning software that is inflexibly configured and overlooks potentially suitable workers is a major factor contributing to a “broken” hiring system in the United States, according to a new report from Harvard Business School (HBS). The HBS report (pdf), released Sept. 4, provides insight into America’s labor market dynamics, including the widely reported mismatch between…


UK Labour Shortages Could Last 2 Years: Business Group

The UK could suffer two more years of labour shortages due to the twin effects of the CCP (Chinese Communist Party) virus pandemic and Brexit, the Confederation of British Industry (CBI) has warned. “Labour shortages are biting right across the economy,” said Tony Danker, the CBI’s director-general. “These shortages are already affecting business operations and will have…


Oil Prices Fall $1 After Saudi Price Cuts for Asia Spur Demand Concerns

Oil prices fell on Monday, extending losses after Saudi Arabia, the world’s top oil exporter, slashed crude contract prices for Asia over the weekend, reflecting well-supplied global markets and concerns over the outlook for demand. Brent crude futures fell 0.69 percent to $72.11 a barrel by 10:39 GMT, while U.S West Texas Intermediate crude was at $68.83 a…