STOCKHOLM — Joel Mokyr, Philippe Aghion and Peter Howitt won the Nobel memorial prize in economics Monday for “having explained innovation-driven economic growth.” Mokyr is from Northwestern University, Aghion from the College de France and the London School of Economics, and Howitt from Brown University. The Nobel committee said Mokyr “demonstrated that if innovations are … Read more
Statistics agency says economy ‘off to a good start’ despite more ‘complex and severe’ external environment. China’s economy grew 5.4 percent in the January-March quarter, the country’s statistics agency has said, a stronger-than-expected performance that comes as exporters are bracing for the fallout of United States President Donald Trump’s punishing tariffs. Industrial output rose 6.5 … Read more
Rachel Reeves’s first few months as Britain’s top finance official have been marked by a steady drumbeat of bad news: a “black hole” in the public finances, higher taxes and low growth. On Wednesday, Ms. Reeves sought to change Britain’s prospects by laying out plans to strengthen the economy, including supporting another runway at Heathrow … Read more
Chancellor says she’ll go ‘further and faster’ on growth planpublished at 13:35 Greenwich Mean Time 13:35 GMT Faisal IslamEconomics editor Media caption, Rachel Reeves: Need to go further and faster to kickstart growth The key line was the chancellor said the government will go “further and faster” on its growth plan. She said market volatility … Read more
Nations and companies around the world are weighing up AI’s costs and benefits. Almost one trillion dollars, that’s how much tech companies are estimated to be spending on building up the artificial intelligence industry over the coming years. Supporters of the technology say AI will increase productivity, boost incomes and revolutionise the global economy. But, … Read more
US treasury secretary says market-based reforms will aid world’s second largest economy. United States Treasury Secretary Janet Yellen has warned that China is too large to try to export its way to rapid growth and would benefit by reducing excess industrial capacity that is pressuring other economies. Yellen said on Friday during a visit to … Read more
<!– –> Two former nuns who accused Slovenian priest of sexual abuse Vatican City: Two former nuns said Wednesday that a world-renowned artist priest made them take part in threesomes and watch porn so they would “grow spiritually”. Slovenian mosaic artist Marko Rupnik, 69, is accused of sexually and psychologically abusing at least 20 women … Read more
IMF upgrades growth outlook for Russia and downgrades expectations for the eurozone. The International Monetary Fund predicts strong growth for Russia’s economy this year, despite sanctions imposed for its invasion of Ukraine. European nations trail well behind Russia in the IMF growth forecast. What’s behind these figures? Presenter: Adrian Finighan Guests: Chris Weafer – chief … Read more