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UNCOVERED: 25 | History Defined

3 Surprising Countries That Have Less Money Than Elon Musk

Elon Musk's staggering net worth tops the GDP of over 150 countries, highlighting global wealth inequality and the scale of individual fortunes.

GOBankingRates

Is Trump’s ‘Big Beautiful’ spending law the biggest tax cut in US history?

Trump’s 2025 law ranks third among tax cuts since 1980 and mainly extends old cuts, making its impact modest for most.

Al Jazeera

Germany’s GDP contraction worse than expected after tariff boost

The economy had seen a slight uptick at the start of this year as businesses sought to get ahead of tariffs, but the country has now slipped back into contraction territory.

Euronews

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‘The nation’s finances have deteriorated’ since Trump took office, CRFB says, gaming out the scenarios up to a $28.5 trillion deficit

The baseline scenario shows cumulative deficits reaching $22.7 trillion by 2035, and that’s if everything goes according to plan.

Fortune

Giving Australians $2,700 tax back while widening GST could help generate $152bn windfall, economist says

Economist who modelled GST estimates his proposed tax reform would lift real GDP by 6%, boost business investment by 11% and increase the number of homes by 8%

The Guardian - AU

Eurozone business activity hits 15-month high in August

The eurozone's economy is gathering momentum as its latest business activity indicator, the flash composite PMI, increased in August, surpassing expectations. It was boosted by manufacturing, which expanded in the bloc for the first time since June 2022.

Euronews

Who really pays for what in the war on Ukraine? A tale of three burdens

Euronews breaks down who is paying what — revealing the vast gulf between the economic strain on Ukraine and its allies.

Euronews

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UK economy bigger than previously estimated by end of 2023 – ONS

The ONS said revised data showed that the economy was 2.2% bigger than its peak shortly before the coronavirus pandemic.

Evening Standard

Property tax across Europe: Which countries collect the most, and what’s their share of total tax?

Property tax policies vary across Europe. In some countries, such as the UK and France, property taxes make up a significant share of both GDP and total taxation.

Euronews

Could a wealth tax work in the UK? A visual guide

Rachel Reeves is under pressure to consider a new levy to help balance the books. We look at her options

The Guardian - UK

Amazon's data center spend tops $100bn - more than the GDP of most countries

Amazon spends more than Luxembourg's entire GDP on data centers – more than Google, Microsoft or Meta.

TechRadar

Japan's economy holds steady at half-year mark despite Trump tariffs

The country's GDP grew in the second quarter thanks to a rush of pre-tariff exports and a glut of international tourists.

Euronews

Japan's Economy Grows Faster Than Expected, China Loses Momentum As Tariff Impact Looms: Nikkei Bounces, US Futures Mixed

Japan’s economy grew faster than expected during the second quarter, with GDP growing 1% on an annualized basis, ahead of median consensus estimates at 0.4%, and marking its fifth consecutive quarter of growth, based on the figures released on Friday.

Benzinga

Japan Posts Modest Growth Despite US Tariffs

Japan eked out modest growth in the second quarter despite painful US tariffs, official data showed Friday, in welcome news to embattled Prime Minister Shigeru Ishiba.

International Business Times

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Evening Standard

Stocks mixed despite GDP surprise amid hot US producer price inflation

The FTSE 100 index closed up 12.01 points at 9,177.24.

The National (Scotland)

Is Wellbeing Economics the only way to generate economic growth?

I WANT to dispel a huge myth about the Wellbeing Economic Approach and that is that it involves de-growth ...

Fortune

AI spending added 0.5% to GDP growth, and the Magnificent 7 stocks are driving the market

The S&P 500 is up 10% this year, driven largely by tech companies that are spending heavily on AI.

Barchart

Stocks Muted Before the Open With Key U.S. PPI Data in Focus

September S&P 500 E-Mini futures (ESU25) are down -0.02%, and September Nasdaq 100 E-Mini futures (NQU25) are down -0.08% this morning, taking a breather after recent gains, while investors look ahead to crucial U.S. producer inflation data for insight into how aggressively the Federal Reserve may cut interest rates.

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The Guardian - UK

UK economy grew despite Trump tariffs causing three-year low in US goods exports – business live

Live, rolling coverage as surprise GDP acceleration in June helps quarterly output beat expectations, while eurozone industrial production slumps

The Guardian - UK

UK economy posts surprise 0.3% growth in three months to June

GDP figure slower than previous quarter but beats expectations thanks to 0.4% expansion in June

Evening Standard

FTSE 100 Live 14 August: Insurers Aviva and Admiral rally after results, GDP growth beats hopes

A surge for Admiral and Aviva was today offset by falls for ex-dividend stocks HSBC and BP as the FTSE 100 index failed to benefit from the UK’s GDP surprise.

The Guardian - UK

Mould, vermin and ceiling leaks: German police say they work in ‘embarrassing’ conditions

Union calls for increased spending to revamp vehicles and station houses that it says are an insult to officers’ dignity

The Conversation

No one holds the government to account on spending. We need a budget watchdog that can bite

Treasurer Jim Chalmers has made budget sustainability one of the key pillars of the reform roundtable to be held next week.

The Guardian - UK

Spain’s economy is the envy of Europe, but the plight of its strawberry pickers tells another story

Its migrant-powered GDP growth is lauded. If only the people who pick its fruit could be treated with dignity and respect, says Tone Sutterud, a human rights and environment journalist and translator

Evening Standard

Rachel Reeves should exempt defence pledge from budget rules, says Gordon Brown

The former chancellor said the commitment to spend 5% of GDP by 2035 should be treated as ‘exceptional’.

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