Global public debt is set to reach $100tn, or 93% of global gross domestic product (GDP), by the end of this year, driven by the U.S. and China, according to the IMF’s latest Fiscal Monitor report. Debt is tipped to increase in the U.S., Brazil, France, Italy, South Africa and U.K., according to the IMF…

The Nobel Memorial Prize in Economic Sciences was awarded on Monday to Daron Acemoglu and Simon Johnson, both of the Massachusetts Institute of Technology, and to James Robinson of the University of Chicago. Acemoglu and Robinson were co-authors of “Why Nations Fail: The Origins of Power, Prosperity and Poverty,” which was first published in 2012….

The number of Americans who applied for unemployment benefits surged by 33,000 to 258,000 in the week that ended October 5th, according to the Labor Department – the highest level of initial claims since early August 2023. Economists polled by the Wall Street Journal had estimated new claims would rise by just 5,000 to 230,000….

U.S. Sens. Elizabeth Warren (D-MA), Ron Wyden (D-OR), and Rep. Katie Porter (D-CA), have urged the Department of the Treasury and the IRS to enhance the Direct File tax filing program by eliminating the use of ID.me for identity verification. They argue that “taxpayers should not be forced to jump through extra, onerous hoops that…

Crypto.com has filed a lawsuit against the SEC, accusing the agency of overreach in its efforts to regulate the cryptocurrency industry. The crypto trading platform said its move follows the receipt of a Wells notice – a formal declaration that an enforcement action is to be recommended – from the markets regulator on the grounds…

A new poll of 200 finance leaders at middle-market companies by BDO USA has found that clients increasingly expect their audit firms to leverage artificial intelligence (AI) to aid the audit process. Sixty-three percent of senior finance leaders say trust is somewhat or significantly enhanced for them and their key stakeholders when auditors use advanced…