The Treasury watchdog was forced on Wednesday to defend its reputation after it again downgraded its forecasts for the British economy and the public finances.

The Chancellor unveiled a raft of upbeat data pointing to the recovery gaining momentum, with record numbers in work, borrowing falling and house prices forecast to soar by 5.2 per cent next year.

George Osborne's comments while delivering the 2013 Budget revived his fortunes. But it was only a confidence trick. Now, with an election just around the corner, the Chancellor is in a bind.

Defying Brexit doomsayers, the deficit came in at £4.3billion in October - below the £6billion expected. The figures emerged on the eve of Philip Hammond's Autumn Statement.

MPs have voiced deep scepticism after the Office for Budget Responsibility delivered a series of dire forecasts about the impact of Brexit.

The new Chancellor Philip Hammond forecasts that Britain’s economy will continue to grow and create new jobs in every year to the end of this Parliament, says ALEX BRUMMER.

WARNING: GRAPHIC CONTENT - The 37-year-old Perth father had a 40cm chunk of his neck gauged out (pictured) in an effort to remove deadly melanoma.

She's the glamorous wife of AFL star Marc Murphy. But on Tuesday, Jessie Murphy revealed she had a rare eye growth and two melanomas removed in recent years.

Advisors are planning to present President Donald Trump with a menu of economic options after the Dow dropped 7 per cent Monday amid fears of the spreading coronavirus and oil market moves.

'I think what the President was trying to do, he was making an aspirational projection to give people some hope,' Fauci said of the proposed April 12 target date on CNN Thursday night.

Chris Christia, Former New Jersey governor (pictured) has said Americans are 'gonna have to' accept the economy reopening before the coronavirus has been brought under control.

LAWRENCE BOOTH AT THE OVAL: Joe Root hailed a 'phenomenal' summer of cricket after England squared the Ashes at 2-2 almost exactly two months after England's World Cup win.

California Governor Gavin Newsom and health officials have said some workplaces, schools and childcare facilities can gradually reopen once the state improves coronavirus testing and contact tracing.

At least 31 states have started to ease coronavirus lockdown restrictions prompting millions trickle out of quarantine to enjoy the spring sunshine this weekend.

EXCLUSIVE INTERVIEW BY LUKE AUGUSTUS: Anthony Joshua has hailed the prospect of fighting in America as 'phenomenal' should his next fight be held Stateside.

PETER HITCHENS: As I watched the Prime Minister order mass house arrest on Monday night, I felt revulsion, anger and grief - as anyone brought up when this was a free and well-governed...

Lee Howdle was hiking through in the Peak District National Park in Derbyshire, central England where he encountered 'an angel in the sky' or brocken specter.

The Reserve Bank fears the coronavirus will hit Australia's already fragile economy and be much worse than the 2003 SARS outbreak in China. Apple is also expecting a global iPhone shortage.

Economics and comedy. Not a conventional pairing.But after spending a weekend at the world’s first economics and comedy festival, I can tell you they’re a match made in heaven.

The seven-part documentary charting the rise and spectacular fall of zoo owner Joe Exotic has been a distraction for Brits as they adapt to lockdown laws put in place to halt the spread of COVID-19.

India's economic growth bounced back in the July-September quarter to reverse a five-quarter slowdown.

All 89 nominations filed on Monday proposed party vice-president Rahul Gandhi as leader, setting in motion celebrations and preparations for the imminent change of guard on Tuesday.

Scientists at University of California Riverside are using NASA's new James Webb Space telescope to detect changes in light that may be suggestive of oxygen on planets outside our Solar System.

Scientists convened on an unfinished underground power plant in Elma, Washington to test a group of autonomous military robots in a simulated disaster scenario searching for survivors.

Business Standard Opinion pieces for the day talk about various economic aspects of the pandemic

Business Standard opinion pieces for the day talk about the fiscal and other aspects of the pandemic.

Here's a selection of Business Standard Opinion pieces for the day

Follow up demonetisation by bringing land and real estate into the GST, suggests the survey

It has recommended reforms in labour and tax policies to make these two sectors globally competitive

Upsurge in protectionism, affecting India's exports, is a matter of concern, says Sunil Kanoria

Tracking India's Economic vitals, as Modi Government completes two years

The former union minister said "only achievement" of NDA govt was changing names of UPA schemes

Thackeray said he will have to resign if it doesn't happen

House Majority Leader Kevin McCarthy predicts a brokered Republican Convention and says he will support the ultimate nominee. He speaks at the ECO:nomics conference in Santa Barbara, Calif.

House Majority Leader Kevin McCarthy argues for the EPA’s Clean Power Plan to be struck down in the courts. He speaks at the ECO:nomics conference in Santa Barbara, Calif.

MUST READS ECB Keeps Rates on Hold as Europe’s Outlook Darkens: European Central Bank President Mario Draghi opened the door to new stimulus measures as the bank stood pat on interest rates, warning that economic risks are mounting. Europe’s Political Funk Sets Back Its Economy: Europe seems stuck, its economic recovery running out of steam and its […]

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U.S. stocks eked out a second consecutive day of gains as investors weighed a cloudy picture of the economy against U.S. businesses starting to slowly reopen after a period of stultifying coronavirus lockdowns.

General fiscal deficit in FY19 expected to be 5.8 per cent of GDP, compared with 6.4 per cent the previous year

When seasonally adjusted numbers continue to exhibit the influences of seasonal effects, much as first-quarter readings on gross domestic product have regularly been doing, statisticians refer to it as residual seasonality. And that effect hampers seasoned economists from making clear-eyed judgments on the strength of the economy.

While reopening economic activities, we need to keep in mind that the industry cannot be opened in isolation, the whole ecosystem along with the related supply chains needs to be revived and restarted, said Suresh Prabhu, Hon'ble Member of Parliament. We should follow the Chinese model of revival through specific geographical openings for economic activities in areas which are marked green and keeping the hotspot districts completely locked, till there is full containment in those areas, said Hon'ble Member of Parliament. This is the time India needs to take advantage of the crises and convert it into an opportunity, we set our National goal of getting Foreign Direct Investments to India and each citizen and all arms of the government must work towards this common goal with complete alignment of reforms, said Prabhu. Businesses are the most important part of the economy, as they are significant contributors to economic growth and progress, he said.

The country-wide lockdown imposed on 23rd March, while necessary, has had deep ramifications on economic activity. According to the CII CEOs Snap Poll on Impact of COVID-19 on Economy and Industry, while a majority of the firms continue to anticipate a significant decline in their topline, they now foresee a delay in economic revival and demand recovery. The survey saw the participation of more than 300 CEOs, of which nearly two-thirds belonged to MSMEs. The lockdown brought economic activity to a grinding halt and the survey findings indicate that a significant majority of the firms (65%) expect revenues to fall more than 40% in the current quarter (Apr-Jun 2020). For financial year 2020-21, the expectations of a fall in revenue are staggered, with 33% of the firms anticipating a revenue fall of more than 40%, closely followed by 32% of firms expecting a revenue contraction ranging between 20% to 40%.

Union Minister for MSME and Road Transport and Highways, Nitin Gadkari informed that a policy on imports substitution is being thought of in the wake of the new economic situation created by COVID-19 pandemic. He called upon various stake-holders to convert knowledge into wealth by improving quality through innovations and cutting down cost. He sited the example of a Nagpur based MSME Orange cluster taking up PPE making from scratch. These PPEs cost between Rs 550 to Rs 650 against the market price of about Rs 1200 for which country was heavily import dependent. The cluster is in a position to supply large quantity of PPEs.

The Trump administration steps up assertions that the coronavirus originated at a lab in Wuhan, governments around the world start to allow businesses to reopen, millions of imported masks fall short of N95 standards. WSJ’s Jason Bellini has the latest on the pandemic. Photo: Scott Keeler/Zuma Press

US President Donald Trump reached out to several world leaders, including those from Germany and Saudi Arabia, to discuss the coronavirus pandemic and the global economy on Friday, the White House said. Trump and King Salman bin Abdulaziz Al-Saud of Saudi Arabia discussed the latest positive developments in defeating the coronavirus pandemic and re-energising global economies, the White House said in a readout of the call. The two leaders agreed on the importance of stability in global energy markets and reaffirmed the strong United States-Saudi defence partnership, it said. Trump and King Salman also discussed other critical regional and bilateral issues and their cooperation as leaders of the G7 and G20, respectively, the readout of the call said. In a separate phone call with Chancellor Angela Merkel of Germany, the two leaders discussed positive developments in defeating the coronavirus pandemic, research efforts and reopening the American and German economies. "The President ...

A shootout erupted on Saturday at a protest in western Afghanistan by residents demanding economic assistance, leading to the deaths of at least six people, including a local reporter and two police officers, officials said. Interior Ministry spokesman Tareq Arian said the protesters had gathered outside the governor's office in Feroz Koh, the capital of the western Ghor province. They were demanding relief after weeks of restrictions aimed at containing the coronavirus pandemic. He said some people at the protest opened fire at police, igniting a gun battle that killed the six people and wounded another 19, including nine police. The ministry has launched an investigation and plans to send a delegation to the province. Afghanistan was already mired in poverty before the onset of the pandemic, which has infected nearly 3,800 people in the country and killed at least 109. Many Afghans rely on day labour, which has dried up because of the closure of nonessential businesses.

BJP leader Pankaja Munde has said that she was not upset over not being nominated by the party for the upcoming Legislative Council election. In a tweet, Munde asked her supporters not to get demoralised. "We both are there for each other and have the blessings of saheb (father Gopinath Munde)," she said. The former BJP minister, who lost the Parli seat in last year's assembly polls to her cousin and NCP leader Dhananjay Munde, said she was not upset over not being given a ticket for the May 21 biennial elections. "You called up my mother and sister (Beed MP Pritam Munde) to express your dismay. I did not take calls because I had nothing to say. I am not upset. My best wishes to the four party candidates," she said. A party source said that senior BJP leader Eknath Khadse, who was keen on representing the party in the Council, is upset over not being considered. The BJP has fielded former NCP MP Ranjitsinh Mohite, lesser-known faces like Gopichand Padalkar, Praveen Datke ..