Andy Burnham announced regional mayors will play a leading role in UK economic policy through the revived National Economic Council and the opening of No 10 North in Manchester, aiming for a significant rebalancing of power and driving growth across the UK.
A new report by the Economic Policy Institute suggests tripling US union membership to 30% could boost the median worker's pay by 14.5% ($7,700 annually), shifting $1.2tn to workers, narrowing racial wage gaps, and reversing one-third of inequality since 1979.
Labour's deputy leader Lucy Powell endorses Ed Miliband as a potential chancellor, citing his ability to challenge Treasury orthodoxy. Andy Burnham, the likely next PM, is set to deliver a key economic speech, focusing on devolution and reassuring markets, with his chancellor decision pending.
Chancellor Rachel Reeves urged an Andy Burnham-led Labour government to continue her economic policies, which she claims are "beginning to bear fruit." She defended her fiscal rules, which Burnham reportedly supports, amid calls from some Labour left-wingers to relax spending.
South Korea's nominal GDP growth is projected to exceed 10% due to tech giants like Samsung and SK Hynix. However, a senior economic policymaker expressed concern that the boom's benefits are not reaching small businesses and retail sectors, leading to store closures and failures.
A senior US State Department official stated the US is actively promoting its AI technologies in Asia, particularly in APEC economies, amidst competition from China. Discussions are underway regarding the safe development of AI.
Labour Party factions outline distinct economic policy approaches ahead of a potential leadership challenge, emphasizing AI opportunities, EU trade, public borrowing, and wealth redistribution.
South Korea's top economic and financial policymakers warn that a potential strike at Samsung Electronics could threaten the country's economy, urging prompt resolution through principle-based negotiations.
Bitcoin's trajectory hinges on whether markets view the oil shock as causing sticky inflation with tight financial conditions or prompting policy accommodation, leading to two potential pathways: stagflation-driven liquidity squeeze or scarce-asset narrative revival.
Bitcoin's path through 2026 now runs through global economic policy. The disruption around the Strait of Hormuz has moved beyond a commodity-price event and into the machinery of governments. The International Energy Agency said crude and refined-product exports through the strait had fallen to less than 10% of pre-conflict levels after about 20 million barrels […] The post Hormuz oil contagion spreads to 8 major economies and Bitcoin has just one route through appeared first on CryptoSlate.
