US government shutdown imminent after Republicans reject own funding bill September 30, 2023 Hardline Republicans in the US House of Representatives on Friday rejected a bill proposed by their leader to temporarily fund the government, making it all but certain that federal agencies will partially shut down beginning on Sunday.
Chancellor says welfare reforms and AI could help end ‘ever-rising taxes’ September 30, 2023 Chancellor Jeremy Hunt has said welfare reforms and the integration of artificial intelligence into the public sector could be the way to end the “vicious circle of ever-rising taxes”.
Why Britain is no friend of capitalism September 29, 2023 Britain has been a home to free marketeers for centuries. Yet the public don’t seem to want them, writes Dr Rainer Zitelmann in this guest essay for City PM You might have thought that the home of Adam Smith, a raft of prominent economists and indeed Margaret Thatcher would have a rose-tinted view of capitalism – or [...]
Eurozone inflation falls to lowest level in two years in sign the ECB’s rate hikes worked September 29, 2023 Inflation in the euro zone fell to its lowest level in two years in September, suggesting the European Central Bank's steady diet of interest rate hikes was succeeding in curbing runaway prices albeit at a growing cost for economic growth.
Mortgage and remortgage approvals fall as higher interest rates hits property market September 29, 2023 New mortgage approvals fell to the lowest level in six months while approvals for remortgaging plummeted as rising interest rates dented the mortgage market.
UK recovery from Covid pandemic stronger than expected, ONS figures show September 29, 2023 The UK economy grew slightly faster in the first quarter of this year than previously expected meaning it is now 1.8 per cent larger than it was pre-pandemic.
Current parliament will mark permanent shift to higher tax economy, says IFS September 29, 2023 The current parliament marks a "decisive and permanent shift" to a higher-tax economy, experts at the Institute for Fiscal Studies said.
US growth remains at 2.1 per cent in second quarter while jobless claims tick up September 28, 2023 The US economy maintained a fairly strong pace of growth in the second quarter, the government confirmed on Thursday, and appears to have gathered momentum this quarter amid a resilient labor market.
Evergrande: Shares suspended with future of China property giant uncertain September 28, 2023 Trading in shares of Evergrande have been suspended with the chairman under police watch and the balance sheet under stress
Are we in the age of the ‘permacrisis’? September 28, 2023 Michael Spence and Mohamed El-Erian tell City PM about the age of the ‘permacrisis’ as they release their new book with Gordon Brown.
