Peering inside a (fiscal) black hole

Come for the snark, stay for the Soundgarden puns

World - Financial Times - 5 hours ago

Jeremy Hunt attempts to block watchdog report on £22bn ‘fiscal hole’

Former chancellor argues publication on Budget day will be used by Labour as ‘political weapon’

Business - Financial Times - 2 days ago

Reeves aims to close £40bn funding gap as she plans tax rises in Budget

Figure is significantly more than the £22bn fiscal hole the government previously identified

Business - Financial Times - October 15

The English county facing the biggest financial ‘black hole’

Even in relatively prosperous Hampshire, the cost of providing social care is swallowing up funding for everything else

Business - Financial Times - October 22

Two Black Holes are Giving the Cosmos a Fright

The ghosts of stars are up to their usual mischief.

World - The New York Times - Yesterday

Is there a £22bn ‘black hole’ in the UK’s public finances?

Economists say the state of public finances should not have come as a complete surprise to the new government.

The Papers: 'Bogus £40bn black hole' and 'Tuchel takes hotseat'

Many newspapers lead on the Budget and report that Chancellor Rachel Reeves faces a "backlash".

Treasury failed to disclose ‘material’ spending pressures under Hunt, says OBR

Watchdog says it cannot tell how big ‘black hole’ inherited by Rachel Reeves would have been with full transparency

World - Financial Times - Yesterday

Harris’s Faith, Inside and Outside the Black Church

Her biography embodies the multifaith, pluralistic and increasingly secular America she is bidding to lead.

Top stories - The New York Times - October 21

It’s hard to fill a budget black hole if you’ve ruled out raising income tax | William Keegan

Keir Starmer and Rachel Reeves were so desperate to win the election that they deprived themselves of the best tools for fixing their bleak ‘inheritance’. It saddens those of us who waited so long ...

World - The Guardian - 5 days ago

Inside a 1760 schoolhouse for Black children is a complicated history of slavery and resilience

A Virginia museum has nearly finished restoring the nation’s oldest surviving schoolhouse for Black children, where hundreds of mostly enslaved students learned to read through a curriculum that ...

Europe’s fiscal tug of war

Pressure to display fiscal discipline is no less high than pressure to spend more on security and economic innovation

World - Financial Times - 6 days ago

China’s investors are counting on fiscal stimulus

Recent market rally will peter out without decisive policy action to boost the economy

World - Financial Times - October 16

Why chancellors need fiscal rules

Rachel Reeves’s new set-up frees up capital spending but her ability to reap benefits depends on many other things

Business - Financial Times - October 25

Meta Battles Social Media Addiction Lawsuit in Massachusetts

Meta, which owns and operates Facebook and Instagram, is facing accusations that it used tactics to get users hooked on its platforms.

Business - Inc. - October 19

Boeing to Bring New Offer in Attempt to End Strike

Boeing’s machinist strike is nearing its second month.

Business - Inc. - October 19

‘Kindness’ Content, Gifting Cash for Clicks, Draws Criticism as Performative

Critics say recording and sharing video of an unwitting stranger to gain social media clout is problematic.

Business - Inc. - October 19

Mail Carriers, USPS Strike Tentative Contract for Raises, Upgraded Trucks

Postal workers have been working without a contract since May 2023.

Business - Inc. - October 19

KC Chiefs Tight End and Taylor Swift Boyfriend Travis Kelce Just Taught a Valuable Lesson in How to Build a Following

Fans love you more if you let them get to know your story, Kelce says.

Business - Inc. - October 20

Instantly Identify Bad Leadership with These 7 Warning Signs

What does it take to be a good leader? Avoid these common mistakes at all cost.

Business - Inc. - October 20

Chick-fil-A Just Made a Very Smart Announcement, and These 5 Words Mattered Most

“Our unique approach, with locally owned and operated restaurants, will also allow us to better connect with people in Singapore.”

Business - Inc. - October 20

5 Keys to Fostering a Mindset of Accountability In Your Team

You don’t get team accountability without a caring culture and a leader role model.

Business - Inc. - October 20

Tesla Earnings Call Could Mean Tough Robotaxi Questions for Musk

Investors will likely grill the mercurial CEO over the company’s major strategic shifts, including self-driving software and sales in China and the U.S.

Business - Inc. - October 21

Starmer to pledge to ‘embrace fiscal reality’ in the Budget

UK prime minister is facing growing criticism that planned tax rises will hit ‘working people’

Business - Financial Times - 4 days ago

The elusive pivot from monetary to fiscal tightening

IMF wants lower interest rates and government deficits. That looks unlikely

World - Financial Times - 2 days ago

‘Misguided fears’ of nanny state to blame for obesity crisis, peers warn

House of Lords committee calls for ‘long-term’ plan to address disease and ‘broken’ food system in England

World - Financial Times - October 23

Low-volatility ETFs lose favour as investors jump to buffered peers

Despite poor returns in recent years, analysts say people could be missing out on their long-term investment potential

World - Financial Times - 4 hours ago

'Hole in the ground' nuclear bunker to go under the hammer

"Quirky" buyer is sought for the nuclear bunker under a field, which has no running water or toilet.

The unfair hole in next week’s UK Budget

Why will council tax remain decades out of date?

Business - Financial Times - October 25

Chinese stocks gain after Beijing lays out fiscal plans

Government plans to increase spending to boost world’s second-largest economy

Business - Financial Times - October 14

FirstFT: Musk backs Trump election bid with $75mn donation

Also in today’s newsletter, luxury shares fall after poor LVMH results and Boeing raises new capital

World - Financial Times - October 16

U.S. budget deficit in fiscal 2024 swells to third-highest level on record

The federal budget deficit for fiscal 2024 was $1.8 trillion, up 8% from a year ago, as the government’s spending continued to swamp revenue.

Business - MarketWatch - October 19

Why Xi Jinping changed his mind on China’s fiscal stimulus

After resisting calls to intervene, Beijing has made a sudden U-turn. But will the package be enough to get the economy back on track?

Business - Financial Times - October 22

My fiscal rules will provide the stability on which growth depends

Britain faces a choice between investment or decline

Business - Financial Times - October 24

Reeves confirms change to UK fiscal rules to help fund £20bn of annual investment

Chancellor promises in FT to avoid ‘falls in public sector investment’ planned by Tories

Business - Financial Times - October 24

Latest in Peering inside a (fiscal) black hole