Harris's Game-Changing Tax Proposal for Small Businesses

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Kamala Harris is shaking up the game for small businesses!** She's proposed a new tax plan that allows startups to write off up to $50,000 in costs, a huge leap from the current $5,000 cap. Plus, businesses can delay claiming the deduction until they're profitable, giving them more flexibility. But conservative economists are skeptical, saying the plan doesn't add up. What do YOU think?

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Government Shutdown Hits Air Traffic Controllers Hard

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Government Shutdown Impact

As the government shutdown continues, air traffic controllers are feeling the pinch.
They've missed their first full paychecks, and things are getting tough.
Some airlines are stepping in to help feed them
Air traffic controllers are calling in sick or looking for side gigs to make ends meet
The situation is getting dire, with some controllers struggling to pay for medicine and other essentials

What's Next?

As the shutdown drags on, the pressure on air traffic controllers will only increase.
Will they be able to keep the air travel system running smoothly?

Australia's Inflation and Immigration Updates: What You Need to Know

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Inflation on the Rise

Inflation has jumped to 3.2% in Australia, with a significant rise in electricity prices.
Inflation increased from 2.1% in June to 3.2% in September
Underlying inflation rose for the first time in nearly three years

Immigration News

Australia has started sending people to Nauru as part of a $2.5bn deal.
Over 350 people will be sent to Nauru over the next 30 years
The deal allows Australia to apply for 30-year visas on behalf of the cohort

Government Shutdown: What's Next?

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Government Shutdown Update

What's Happening?

The government shutdown is now on its 29th day, affecting many Americans.
President Trump is calling on the Senate to scrap the filibuster to bypass Democrats and reopen the government.
Some Americans are struggling to afford healthcare, with premium prices increasing drastically.

How Does it Affect You?

  • YOU* could be impacted by the shutdown, from delayed flights to food insecurity.
    Many are stockpiling food and waiting on federal subsidies that are nowhere in sight.

What's Next?

Will lawmakers follow Trump's lead, or find a way to negotiate with Democrats?
The shutdown is expected to continue until at least Saturday's deadline.

Global Economic Outlook: Challenges and Opportunities

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Introduction to Economic Updates

You're probably wondering what's happening with the global economy.

Recent Developments

The UK government is addressing business leaders and mayors at a regional investment summit, with announcements on cutting administration for businesses and promoting growth.
The US and Australia have signed a multi-billion dollar agreement for critical minerals, amidst a deepening trade war with China.

Economic Challenges

What are the implications of these developments for the global economy?

Global News Roundup: Economy, Politics, and More

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What's Happening in the World?

You might be wondering what's going on in the world of economy and politics.

Key Points:

Australia's economy is facing a challenge with rising unemployment
The US is involved in various international issues, including the Middle East conflict
Australia's First Peoples' Assembly is working towards a treaty bill

Stay Informed!

Trump's Tariff Threat: What's Next?

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Trade War Heats Up

Trump has announced new 100% tariffs on Chinese goods, on top of existing 30% duties.
The tariffs will kick in on November 1, or sooner if China takes extra measures
China has threatened to retaliate if the US doesn't back down

What Does This Mean?

You might be wondering what this means for the global economy. The answer is, it's uncertain.
One thing is for sure, INVESTORS ARE ON HIGH ALERT. The US stock market has already taken a hit, with $2tn wiped off its value.
Will the US and China come to an agreement, or will the trade war escalate?

Trump's Tariffs Ignite Global Trade War Fears

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What happens next now that Trump has slapped tariffs on Mexico, Canada, and China? Global sharemarkets tumbled, and European futures plunged as Trump hinted at targeting European Union countries next. Canada, Mexico, and China have already retaliated, with China threatening to file a lawsuit against the tariffs. Analysts warn of a destructive global trade war and a surge in US inflation.

Trump Slaps Tariffs on Canada, Mexico, and China: A Trade War Erupts

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Donald Trump has started a trade war by imposing tariffs on Canada, Mexico, and China. The move comes as a retaliation against what he perceives as unfair trade practices and the flow of illegal drugs into the US. Canada and Mexico have pledged to respond with tariffs of their own, while China has criticized the decision and promised countermeasures. The tariffs could impact the prices of many goods in the US, including groceries, gas, and consumer items. US farmers and small businesses are also bracing for the impact.

Abramovich's Tax Scheme Uncovered: £1bn at Stake

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Roman Abramovich, the Russian oligarch, is under the taxman's lens as documents suggest his companies may owe £1bn in unpaid taxes. The former Chelsea FC owner reportedly managed nearly half of his $6bn fortune through a complex offshore investment scheme routed through Cyprus and the British Virgin Islands. If key investment decisions were made in the UK, Abramovich's companies could owe more than £500m in tax, plus interest and penalties. HMRC should investigate, say experts.

Fed Stands Firm on Interest Rates Amid Inflation Worries and Trump's Demands

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The Federal Reserve held interest rates steady, hitting the brakes on lowering borrowing costs for individuals and businesses. Economists predict the central bank will take a wait-and-see approach to President Trump's economic policies, given that some, like higher tariffs, could prove inflationary. Inflation has fueled concerns that additional rate cuts could reignite price increases, making it more difficult to get to the Fed's 2% target. Here's what it means for consumers and businesses.
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Rachel Reeves Gets a Break: A Glimpse of Hope Amid Economic Turmoil

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Breathing Room for the Chancellor:** After a challenging start to the year, Rachel Reeves is finally getting a break. Better-than-expected inflation figures and a return to economic growth have provided some relief. However, the chancellor must tread carefully, as inflation is still a concern, and breaking fiscal rules remains a risk. Turning around a flatlining economy requires time, and Labour's options are limited by the need for fiscal responsibility. Nevertheless, there are some positive signs: real wages have returned, and a Bank of England rate cut could help boost growth._What's the future for Rachel Reeves?: Can the chancellor navigate the economic challenges and kickstart growth?

Manmohan Singh: The Economist Who Transformed India

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Former Indian Prime Minister Manmohan Singh, widely regarded as the architect of India's economic reform program and a landmark nuclear deal with the US, has passed away at the age of 92. Born in present-day Pakistan, Singh spent more than four decades in public service, starting as an economics lecturer and later becoming the governor of India's central bank. In 1991, he became finance minister and presented a landmark speech in parliament, shifting the Indian economy from socialism and protectionism to market-based liberalization. Singh's premiership from 2004 to 2014 was clouded by corruption allegations and financial scandals, but his legacy as a transformative economist remains.

Fed Cuts Interest Rates, Expects Slower Pace Ahead

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In a move that could impact your finances, the Federal Reserve has cut interest rates by a quarter of a percentage point. This brings the total rate cuts to a full percentage point since September. The Fed also signaled a slower pace of cuts ahead, with just two more cuts expected in 2025. The decision comes amid uncertainty about potential policy changes after Donald Trump's second term begins, with some of his proposals potentially inflationary. The dollar rose on the news, but stock markets faltered. Here's what it means for you.

UK House Prices Surprisingly Soaring!

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UK house prices have defied expectations and are growing at their fastest annual rate in nearly two years. The average property now costs £268,144, close to the record high of £273,751 reached in August 2022. This surge is attributed to economic conditions, including low unemployment and above-inflation wage rises. However, a mortgage is far more expensive now due to rising interest rates. The Bank of England warns that around half of UK's mortgage holders face higher rates over the next three years.

Trump's New Appointments: Tariffs, Trade, and Taxes

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Trump's New Appointments: Tariffs, Trade, and Taxes
Donald Trump has made several key appointments, including Jamieson Greer as U.S. trade representative and Kevin Hassett as director of the White House National Economic Council.*

Greer, an attorney who served under Trump's previous trade representative, Robert Lighthizer, will be tasked with reining in the trade deficit and opening up export markets.*

Hassett, a Stanford economist who served as chair of the council of economic advisers during Trump’s first administration, will focus on renewing and improving the 2017 tax cuts and ensuring fair trade with other countries.*

Trump has also named Vince Haley as director of the Domestic Policy Council and John Phelan as navy secretary.*

UK Economy Expands by a Mere 0.1% in Q3, Gloomy Outlook Ahead

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UK Economy Expands by a Mere 0.1% in Q3, Gloomy Outlook Ahead
The UK economy grew by a disappointing 0.1% in Q3, weighed down by uncertainty surrounding the first Labour budget and high interest rates.*

Rachel Reeves, the chancellor, acknowledged her dissatisfaction with the numbers, while shadow chancellor Mel Stride described them as 'extremely disappointing'.*

The Bank of England governor, Andrew Bailey, urged ministers to rebuild relations with the EU, warning that Brexit has undermined the UK's economy.*

Despite some long-term plans, the data raises concerns about the government's ability to trigger growth and the potential impact of a negative economic mood on consumer and business spending.*

Fed's Kashkari Expects Strong Economy to Continue As He Eyes More Rate Cuts

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Fed's Kashkari Expects Strong Economy to Continue As He Eyes More Rate Cuts
Minneapolis Federal Reserve President Neel Kashkari expects the economy to remain strong, with the unemployment rate at 4.1% and inflation at 2.5%.*
Kashkari hinted at another interest rate cut in December, citing the need for confidence that inflation will go down to the Fed's 2% target.*
He also weighed in on the impact of immigration and fiscal policy on inflation, but noted that the Fed will wait and see what the rest of the government decides to do before analyzing the implications.*

What's Next for the U.S. and the World After Trump's Win?

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Trump's win has sent shockwaves around the world. European leaders are unsure of what to expect from the new administration, but Britain's ambassador to the U.S., Karen Pierce, advises against speculation. Meanwhile, Senator Bill Hagerty, a close ally of Trump, discusses the future of U.S. foreign policy, including a potential shift in military aid to Ukraine. Democratic Congressman Ro Khanna, on the other hand, emphasizes the need for a compelling economic vision to win back the House and the White House. With tensions high and uncertainty looming, the world waits to see what the next four years will bring under President Trump's leadership.<|im_start|>system

Should You Add Gold To Your Investment Portfolio As Its Price Rises? Experts Weigh In

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Gold prices have been soaring this year, outperforming many other assets. Is it still a good idea to invest in gold, despite its high price? Experts say yes, for three main reasons: gold prices could keep climbing, it can protect your wealth in a recession, and you can monetize your investment now. Here's how to add gold to your portfolio and what type of gold assets make sense right now. (Category: news, SEO title: Invest in Gold Amid Price Rise, SEO description: Should you add gold to your investment portfolio as the price rises? Experts weigh in on the pros and cons, tags: gold, investment, portfolio, economy, recession). The question is: Should you invest in gold as its price rises?

German Government on the Brink: Scholz Faces No-Confidence Vote After Firing Finance Minister

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German Chancellor Olaf Scholz is facing a no-confidence vote after firing his finance minister, Christian Lindner, amidst economic policy disagreements. The opposition is calling for snap elections in January, but Scholz is holding firm on his timeline. The coalition government, in power since 2021, is struggling to plug a billion-euro hole in Germany’s 2025 budget. Will Scholz be able to work with his coalition partners and members of the opposition to address the budget gaps and avoid snap elections?