Economy news, explained for your life

Jobs numbers, inflation, rates, and tariffs, minus the jargon. What the release actually said, and who feels it first.

Economy

Proposed Common Cents Act would change coin transactions

The proposed Common Cents Act aims to change coin transactions by potentially eliminating the penny and introducing rounded transactions.

Economy

Economic concerns impact voter sentiment ahead of midterm elections

Economic concerns are leading to low consumer sentiment as voters approach the midterm elections.

Economy

Reserve Bank raises cash rate to 4.6%, highest since 2011

The Reserve Bank of Australia has raised its cash rate to 4.6%, the highest since 2011.

Economy

Georgia suspends state gas tax for 30 days

Georgia suspended the state gas tax for 30 days to help reduce rising fuel costs.

Economy

Australia reports on cash rate decision and police investigation of suspicious deaths

Australia's Treasurer discusses employment and inflation as the cash rate decision approaches, while police investigate the suspicious deaths of two men in New South Wales.

Economy

Fed member Lisa Cook discusses AI demand and inflationary impacts

Lisa Cook discussed how rising demand for artificial intelligence is contributing to inflation.

Economy

Research examines economic impact of recent immigration trends in the U.S.

New research analyzes the economic effects of a significant immigration surge in the U.S., highlighting job growth and modest rent inflation.

Economy

Experts warn of potential impact of further interest rate hikes on property market

The Reserve Bank of Australia is expected to raise the cash rate to 4.6%, which will increase mortgage costs for borrowers.

Economy

Heat pump sales increase in Europe as electricity taxes are reduced

Sales of residential heat pumps in Europe increased significantly due to rising oil and gas prices and reduced electricity taxes.

Economy

New SNAP benefit amounts and eligibility rules take effect

New SNAP eligibility rules and benefit amounts will take effect, impacting millions of Americans.

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Economy

Australia's budget outcome projected to reduce deficit; interest rates may increase

Australia's budget outcome is projected to reduce the deficit, while interest rates may increase to their highest level since 2011.

Economy

Protests in Madrid follow eviction of elderly resident from long-time apartment

Tens of thousands protested in Madrid following the eviction of an elderly woman from her long-time apartment.

Economy

States Compete to Host US Space Academy

Several states are competing to host a US Space Academy, which could lead to job creation and economic growth.

Economy

National debt reaches $40 trillion, impacting Americans' finances

The national debt of the United States has surpassed $40 trillion, impacting Americans' finances.

Economy

Interest Rates Rise Above 5%, Impacting Borrowing and Savings

Interest rates have risen above 5%, affecting borrowing costs and savings returns.

Economy

Examining the Divide Between Perceived and Actual Wealth in America

An essay discusses the disparity between Americans' financial realities and the wealth portrayed on social media, emphasizing the impact of consumer credit.

Economy

Consumer confidence decreases in September amid inflation concerns

Consumer sentiment in the U.S. fell to its lowest level in four months due to rising inflation and cost-of-living concerns.

Economy

Residents in some states have seen significant increases in debt

Residents in some states have experienced a significant increase in debt over the past decade.

Economy

UK food and drink trade deficit reaches £21bn

The UK’s food and drink trade deficit has increased to over £21bn, the highest level since 2000, due to various international factors.

Economy

Increase in diesel prices affects various sectors of the economy

The price of diesel fuel has increased significantly, impacting businesses and the economy.

Economy

Energy Department to allocate $2 billion for electricity capacity projects

The Energy Department will invest nearly $2 billion in electricity capacity projects across 26 states.

Economy

Unemployment claims decrease to 197,000, lowest since mid-July

Unemployment claims have fallen to 197,000, the lowest level since mid-July.

Economy

Treasury yields rise sharply amid economic data

Treasury yields have risen sharply, reaching their highest levels since 2004, due to stronger economic activity and higher inflation.

Economy

Australian diesel prices may exceed $3 a litre due to US export decisions

Diesel prices in Australia are rising, potentially exceeding $3 a litre due to US export decisions.

Economy

Increase in Australians Seeking Additional Employment Due to Rising Living Costs

More Australians are seeking additional employment as living costs rise and unemployment ticks up.

Economy

Challenges Facing American Family Farms

Family farms in the United States are facing increased costs and debt, impacting their viability.

Economy

Diesel prices increase amid geopolitical conflicts

Diesel prices have reached historic highs due to geopolitical conflicts involving the U.S. and Russia.

Economy

Couples delaying divorce in England and Wales amid cost of living challenges

Couples in England and Wales are postponing divorce due to financial pressures from the cost of living crisis.

Economy

Grocery prices increase by 7% at Australian supermarket chains, survey finds

Grocery prices have increased by 7% across major Australian supermarket chains, according to a recent survey.

Economy

Analysis indicates potential reduction in capital gains tax for property investors

Research suggests that most property investors may pay less capital gains tax under proposed budget reforms, though half could face higher costs due to the loss of negative gearing.