Inflation

NSW Government hands down 2023 budget with surplus of $844 million – here’s what you need to know

by

A rainy-day budget will prepare NSW for looming economic storms as the state battles the challenges of inflation, rising unemployment and higher interest rates. In his first budget, Treasurer Daniel Mookhey predicted a deficit of $7.8 billion in 2023/24 before the delivery of a modest surplus of $844 million in 2024/25. The forecast came despite … Read more

How inflation has hit YOUR pocket: Cost of gas and airline fares shot up last month – but dairy, bread and electronics are on the decline

by

Household budgets suffered another blow in August as the rate of annual inflation ticked up for the second month in a row, new figures revealed today. The annual rate is now hovering at 3.7 percent – after falling to a low of 3 percent in June. And it remains well above the Fed‘s target of … Read more

Ministers warn state pension triple lock is ‘not sustainable in the long term’ after wages surge puts OAPs on track for 8.5% boost in April – piling billions of pounds on to government spending

by

Ministers have warned the state pension triple lock is ‘not sustainable in the long term’ after surging wages put OAPs on track for a bumper rise next year. Under the triple lock, the payouts go up in April by the highest out of average earnings, CPI inflation or 2.5 per cent. The pay number for … Read more

Centrelink payments boost: Australians on JobSeeker, pensions, Youth Allowance all to get extra cash

by

Centrelink payments boost: Australians on JobSeeker, pensions, Youth Allowance all to get extra cash By Jesse Hyland For Daily Mail Australia Updated: 09:43 BST, 7 September 2023 More than 5.5million Aussies on Centrelink and pensions are set to receive a pay boost due to indexation and relief put forward by the Albanese government. The increase will … Read more

Labour-run Birmingham City Council declares itself ‘effectively BANKRUPT’ after being hit with £760m bill to settle equal pay claims – as officials blame ‘rampant inflation’ for ‘going bust’

by

Labour-run Birmingham City Council has declared itself effectively bankrupt after being hit with a £760million bill to settle an equal pay claim. In a statement on Tuesday, Europe’s largest local authority confirmed that it had issued the declaration that it cannot balance its books. It said all new council spending in the city, with the … Read more

Charles Schwab plans to cut jobs and close offices to save $500 million as layoffs spread on Wall Street

by

Charles Schwab plans to cut jobs and close offices to save $500 million as layoffs spread on Wall Street Charles Schwab is cutting an undisclosed number of jobs, firm said Monday Cuts are related to the integration of TD Ameritrade, acquired in 2020  Brokerage expects the cuts to save about $500 million annually   By Keith … Read more

Interest rates soar to highest level since 2001, sparking misery for credit card holders and homebuyers – here’s how latest Fed rate hike could hit YOUR pocket

by

Interest rates soar to highest level since 2001, sparking misery for credit card holders and homebuyers – here’s how latest Fed rate hike could hit YOUR pocket The Fed raised interest rates by a quarter percentage point, after pressing pause on hikes last month  The central bank made the unanimous decision to raise rates to … Read more

Martin Lewis reveals he was brought to tears by letter from viewer as he halts Good Morning Britain and says ‘I’ve had a stressful couple of weeks’

by

Martin Lewis reveals he was brought to tears by letter from viewer as he halts Good Morning Britain and says ‘I’ve had a stressful couple of weeks’ By Sean O’grady For Mailonline Published: 09:26 BST, 19 July 2023 | Updated: 17:01 BST, 19 July 2023 Martin Lewis has revealed he was brought to tears by … Read more

US hiring accelerated in April as employers added 253,000 new jobs

by

Job creation in the US accelerated last month, in a sign that the labor market remains surprisingly resilient in the face of rising interest rates, chronic inflation, multiple bank failures and mounting economic uncertainty.   Despite those headwinds, total employment rose by a surging 253,000 jobs in April. That was far above what economists had projected, … Read more

Treasurer Jim Chalmers says $10,000 pay rises for 250,000 aged care workers won’t add to inflation

by

Jim Chalmers defends $10k pay rise for 250,000 workers at the same time interest rates are being hiked to curb spending and end runaway inflation  Treasurer asked about pay rises on inflation  Plan to spend $11.3billion boosting wages  By Stephen Johnson, Economics Reporter For Daily Mail Australia Published: 07:55 BST, 4 May 2023 | Updated: … Read more

American Airlines offers Silicon Valley exec $2billion ticket for flight from Seattle to Florida

by

‘Is American now partnering with SpaceX!’ Silicon Valley exec tried to change his AA flight from Seattle to Palm Beach and one of the options came up as a ticket for over $2Billion American Airlines quoted a man $2,147,483,647 for a trip from Seattle to Florida Software developer Shaun Walker tweeted out an image of … Read more

Retired public sector workers predicted to see a pension increase worth double the average pay rise

by

Pensions bonanza for public sector workers who are predicted to see an increase worth double the current average pay rise Millions of pensioners will receive a 10.1 per cent rise – paid for by the tax payer By Natasha Livingstone Published: 00:34 BST, 9 April 2023 | Updated: 02:10 BST, 9 April 2023 Millions of retired … Read more