Inflation is outpacing wage growth again, squeezing Americans’ paychecks
In August, consumer prices rose 3.4% over the past year while wages increased just 3.1%.
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In August, consumer prices rose 3.4% over the past year while wages increased just 3.1%.
Russia’s full-scale war in Ukraine cost Poland an estimated €113.4 billion between 2022 and 2025, according to Statistics Poland. The losses include reduced economic output, higher inflation, lower real wage growth, and increased defense and Ukraine-related spending.
Ukraine’s State Statistics Service revised its second-quarter 2026 GDP estimate down to 0.4% year-on-year, from a 0.6% flash estimate, and to 0.3% quarter-on-quarter, below the National Bank’s earlier 0.8% calculation. Nominal GDP reached just under Hr. 2.31 trillion ($51.8 billion).
As mainstream parties vie for votes with promises of jobs and economic growth, young people may take more convincingThirty minutes north of New Zealand’s capital, raucous laughter is tumbling out of a nondescript building in Naenae – an economically deprived suburb in Lower Hutt – into the car park of a tiny shopping strip.Inside, 10 students aged between 15 and 24 are trying to better their chances of finding a job, with help from Youth Inspire, a not-for-profit that assists hundreds of young people each year into training, education or work. Continue reading...
China exported more than 6.2 million passenger cars in the first eight months of this year, beating its full-year total for 2025 with four months to spare, while domestic sales fell 25.6% in August. Europe absorbed much of the growth through plug-in hybrids, which the EU’s tariff on Chinese cars does not cover, and BYD’s […] This story continues at The Next Web
MUMBAI, Sept 11 (Reuters) - Finance ministers and central bank governors of BRICS countries have called for reform of global developmental financial institutions such as the International Monetary Fund and World Bank, seeking a stronger voice for emerging market economies."With the growing share of emerging market and developing economies in global output and growth, reform of global economic governance remains a consistent BRICS priority," finance chiefs of BRICS countries said in a joint statement issued late on Thursday.
It comes after France's national statistics office lowered its forecast for 2026 growth from 0.7% to 0.4% and warned that the French economy was "losing ground."
KB Financial Group selected Vice Chairman Lee Jae-keun as its next chairman for a three-year term, surprising a market that had widely expected incumbent Chairman Yang Jong-hee to secure another term. Lee was selected over Yang and former Woori Bank CEO Kwon Kwang-seok. His appointment is due to be finalized at a shareholders meeting on Nov. 20, when Yang's current term expires. "The group selected Lee to lead a bold transformation and generational shift as it seeks to strengthen its core competitiveness and secure new growth engines beyond its current strong performance," the group's chairman recommendation committee said in a statement. At Friday's meeting, the committee conducted two-hour in-depth interviews with each of the three shortlisted candidates. They were assessed on five criteria: professional experience and expertise, leadership, morality, alignment with the group's vision and values, and commitment to sound management over the short and long term. The committee then held a final vote. The leadership change comes as financial authorities pursue governance reforms aimed at c
Finance minister Roland Lescure also downgrades GDP growth forecast for 2026
Recent comments by Portugal's prime minister have prompted discussion about which EU country currently has the best-performing economy and employment growth rate.
The UK economy grew by a much better than expected 0.4% in July - but experts warn a slowdown is looming amid jump in Iran war related costs
Gross domestic product (GDP) increased by 0.4% in July, following growth of 0.3% in June, official figures showed.
KB Financial Group selected Vice Chairman Lee Jae-keun as its next chairman for a three-year term, surprising a market that had widely expected incumbent Chairman Yang Jong-hee to secure another term. Lee was selected over Yang and former Woori Bank CEO Kwon Kwang-seok. His appointment is due to be finalized at a shareholders meeting on Nov. 20, when Yang's current term expires. "The group selected Lee to lead a bold transformation and generational shift as it seeks to strengthen its core competitiveness and secure new growth engines beyond its current strong performance," the group's chairman recommendation committee said in a statement. At Friday's meeting, the committee conducted two-hour in-depth interviews with each of the three shortlisted candidates. They were assessed on five criteria: professional experience and expertise, leadership, morality, alignment with the group's vision and values, and commitment to sound management over the short and long term. The committee then held a final vote. The leadership change comes as financial authorities pursue governance reforms aimed at c
Welcome boost for chancellor with unexpected rise put down to rapid growth of AI in services sector outweighing Iran war fallout The UK economy grew in July as the rapid expansion of AI appeared to outweigh the economic damage from the Iran war, in a welcome boost for John Healey.Figures from the Office for National Statistics (ONS) showed a surprise 0.4% increase in gross domestic product (GDP), compared with 0.3% growth in June. City economists had forecast zero growth. Continue reading...
KB Financial Group selected Vice Chairman Lee Jae-keun as its next chairman for a three-year term, the financial holding company said Friday. Lee was selected over incumbent Chairman Yang Jong-hee and former Woori Bank CEO Kwon Kwang-seok. His appointment is due to be finalized at a shareholder meeting on Nov. 20, when Yang's current term expires. "The group selected Lee to lead a bold transformation and generational shift as it seeks to strengthen its core competitiveness and secure new growth engines beyond its current strong performance," the group's chairman recommendation committee said in a statement.
Insee has cut its 2026 growth forecast from 0.7% to 0.4%. After a weak first half, sluggish consumption, falling investment and rising inflation darken prospects for year-end.
Plus wage growth and inflation
The ECB is raising borrowing costs to stop expensive energy from fuelling lasting inflation. Economists disagree on how far rates must rise and how much growth could suffer.
National Audit Office says failure to implement £70bn modernisation would also hold back economic growthThe ‘great grid upgrade’ is off track – ministers should spell out the risks for billsConsumers will pay higher energy bills unless the UK government speeds up work on a vast programme of upgrades to the electricity grid to enable the switch to renewables, the public spending watchdog has warned.The National Audit Office (NAO) said that without faster action the extra costs associated with managing the ageing power network, which are ultimately passed on to the public, could reach £7.8bn a year by 2030. Continue reading...
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Anthropic has published an economic model projecting how AI might reshape the US economy by 2030, and its three scenarios range from barely perceptible to a boom with no historical precedent, including one in which GDP grows 15% a year while nearly a fifth of office workers are out of a job.
For decades, Korea’s unique “jeonse” rental system was widely seen as a natural stepping stone to homeownership. The system spread during the country’s breakneck economic growth in the 1970s. Under jeonse, tenants pay their landlord a large lump-sum deposit — often equivalent to 60 to 80 percent of the property’s value — instead of monthly rent. The deposit is returned in full when the lease ends, typically after two years. Such distinct rental arrangements took root in part because Korea’s formal housing finance market was still underdeveloped at the time. As rapid urbanization drove millions of people from rural areas into cities, demand for housing surged. But ordinary households had limited access to mortgages, as banks were largely focused on channeling credit into state-led industrial development projects. Jeonse effectively filled that gap as a private alternative to bank financing. Landlords could use tenants’ deposits to fund part of a home purchase, invest the money or deposit in high interest-bearing accounts. In that sense, the deposit functioned much like a
Motive has secured more than $1.3bn in growth financing from General Catalyst’s Customer Value Fund, the company announced on Thursday. Because of the financing, Motive has withdrawn its previously filed S-1 registration statement for an initial public offering. The San Francisco company describes itself as “the AI platform for physical operations”. Its software helps companies […] This story continues at The Next Web
Downing Street gives more details of plan, saying it would be charged as a percentage of accommodation costs, not a flat feeTourists in England face nightly levy on hotel and Airbnb stays under new plansThe Centre for Cities, a thinktank that focuses on promoting growth in cities, has welcomed the government’s plans to let mayors in England impose a tourism tax. This is from its chief executive, Andrew Carter.The overnight visitor levy is a great step forward for fiscal devolution. This marks the first time that mayors in England have gained more autonomy over funding.The overnight visitor levy means places will get rewarded for doing what they need to attract more visitors and grow their local economies.Labour’s solution to every issue is always to hike taxes. This is just the latest method they’ve found to squeeze more money out of hardworking families and the economy.The hospitality industry has already been hit by colossal business rates hikes thanks to Labour, on top of their Jobs Tax and employment red tape that have driven up costs. Now hotels and other businesses face another blow that will harm local economies and discourage local tourism. VAT is already charged at 20% on hotels - much higher than in other countries - and now they’ll pay VAT on this tourism tax too: a Labour double whammy. Continue reading...
WASHINGTON — The IMF said on Thursday the global economy had weathered the energy shock caused by the war in the Middle East better than feared and global economic output was still expected to expand by about 3 percent in 2026, but it cautioned that risks remained high. Julie Kozack, spokesperson for the International Monetary Fund, said oil and gas prices remained elevated and the energy shock from the war was not over. Global debt pressures were also mounting and the disinflation process over the 2022 cost of living crisis had stalled. Global inflationary expectations have risen but remain well-anchored over the longer run, Kozack told a regular IMF briefing. "So far, despite six months of war in the Middle East, the global economy has been resilient," Kozack said, adding that the use of oil and gas reserves had allowed some countries to cope with energy shocks caused by the war, while others had shifted to new energy sources or acted to curb demand. "We remain on track for world growth of around 3 percent but uncertainty, as we've been saying for quite some time, continues to remain