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"And with Democrats now controlling the White House and the Senate, President Biden is going to erase President Trump's gains in the federal circuit courts over the next two years." Trump later filled two other Supreme Court vacancies after Justice Anthony Kennedy retired and Justice Ruth Bader Ginsburg died, a level of high-court turnover Biden may never experience. So far, the Senate has confirmed Jackson, as well as 28 appellate court justices and 68 district court judges during Biden's presidency. [Extracted from the article]

(Bloomberg) -- The US health-care bill edged past $4.3 trillion, or almost $13,000 for every American, as pandemic spending increases slowed in 2021. Read More: The Most Expensive Health Care in the World Is Hardly the Best The US spending figure reflects the combined outlays of government programs, private employers and households; federal spending makes up more than a third. [Extracted from the article]

A staggered payment would also improve fairness by catching people who lose their job after the assessment period so are declared ineligible for any help, the committee said. "This could undermine the decade's worth of work in terms of making work pay, and we need to make sure that we're vigilant and not creating behavioral signals that cause people to find themselves better off in benefits than in work." (Bloomberg) -- The UK government's cost-of-living support for households struggling with sky-high energy bills may be contributing to labor shortages by discouraging people from seeking work, a panel of lawmakers said. [Extracted from the article]

(Bloomberg) -- The UK government's cost-of-living support for households struggling with sky-high energy bills may be contributing to labor shortages by discouraging people from seeking work, a panel of lawmakers said. A staggered payment would also improve fairness by catching people who lose their job after the assessment period so are declared ineligible for any help, the committee said. "This could undermine the decade's worth of work in terms of making work pay, and we need to make sure that we're vigilant and not creating behavioral signals that cause people to find themselves better off in benefits than in work.". [Extracted from the article]

In his evidence to the committee, Carl Emmerson, deputy director of the Institute for Fiscal Studies, said other similar perverse incentives existed, as legal aid and free school meals are also subject to means testing. A staggered payment would also improve fairness by catching people who lose their job after the assessment period so are declared ineligible for any help, the committee said. (Bloomberg) -- The UK government's cost-of-living support for households struggling with sky-high energy bills may be contributing to labor shortages by discouraging people from seeking work, a panel of lawmakers said. [Extracted from the article]

Since the start of the pandemic in March 2020, there has been a jump in benefit claimants with work requirements, meaning welfare recipients must look for a job, and a steep rise in inactivity as people dropped out work. (Bloomberg) -- The UK government's cost-of-living support for households struggling with sky-high energy bills may be contributing to labor shortages by discouraging people from seeking work, a panel of lawmakers said. A staggered payment would also improve fairness by catching people who lose their job after the assessment period so are declared ineligible for any help, the committee said. [Extracted from the article]

(Bloomberg) -- Japan is set to increase the annual limit on tax-free investment accounts aimed at the middle classes and raise taxes on ultra-wealthy individuals, as Prime Minister Fumio Kishida pursues his agenda of fairer distribution of the fruits of growth. Kishida had sought to tackle an anomaly whereby those on annual incomes of more than ¥100 million sometimes pay a lower rate of tax than people with lower incomes. [Extracted from the article]

Moreover, officials have told ministers significant new regulations will need to be imposed on businesses and private landlords to set a minimum energy standard, the person said. The UK will miss its energy targets without an additional tens of billions of pounds of funding for the government's new home insulation program, ministers have been privately warned. If Prime Minister Rishi Sunak's headline goal of reducing energy demand by 15% by 2030 is to be met, more money will be required, an official familiar with the internal government advice told Bloomberg. [Extracted from the article]

The energy efficiency push is set to be unveiled on Thursday by Chancellor of the Exchequer Jeremy Hunt as a major spending commitment in his Autumn Statement, according to Treasury officials familiar with his thinking, who requested anonymity because the plans haven't been announced. (Bloomberg) -- The UK government is set to spend billions of pounds to insulate homes and upgrade boilers in a drive to cut Britain's overall energy demand by at least 13% this decade. [Extracted from the article]

(Bloomberg) -- The cash bail system in Los Angeles is being challenged in a lawsuit as unconstitutional for treating poor people who can't afford to pay their way out of jail differently from those who can. "Had Mr. Urquidi been able to pay the full bail amount, he would have been immediately released on this charge and could have had the full amount returned to him when his case was discharged", the civil rights groups said in the complaint. [Extracted from the article]

"Of course I would say to executives to embrace pay restraint at a time like this and make sure they are also looking after all their workers", Sunak said in an ITV interview in Bali, Indonesia, where he's attending the G-20 summit. (Bloomberg) -- Prime Minister Rishi Sunak urged UK executives to rein in excessive pay awards as he seeks to keep a lid on double-digit inflation. [Extracted from the article]

(Bloomberg) -- Prime Minister Rishi Sunak urged UK executives to rein in excessive pay awards as he seeks to keep a lid on double-digit inflation. "Of course I would say to executives to embrace pay restraint at a time like this and make sure they are also looking after all their workers", Sunak said in the interview in Bali, Indonesia, where he's attending the G-20 summit. [Extracted from the article]

The UK's new financial plan will seek to make any recession as short as possible, Chancellor Jeremy Hunt said. "I want to make sure that this recession, if we are in one, is as short and shallow as possible", Hunt said in an interview on Sky News on Sunday. [Extracted from the article]

Hunt will announce his plan on Nov. 17 as he seeks to plug a budget shortfall estimated at more than £50 billion ($56 billion). (Bloomberg) -- The UK's new financial plan will seek to make any recession as short as possible, Chancellor Jeremy Hunt said. [Extracted from the article]

Bailey has urged businesses to keep a lid on pay increases, amid concerns that the UK's tight labor market could spur a wage-price spiral that keep inflation elevated. Bank of England Governor Andrew Bailey praised companies for directing salary rises to the lowest-paid workers, while on a two-day visit to the north of England. [Extracted from the article]

But Meredith pointed to Trudeau's record on labor-force participation as a major accomplishment, with a rise in the employment rate among workers between 25 and 54 years old. (Bloomberg) -- One of Canadian Prime Minister Justin Trudeau's longest-serving economic advisers said progressive governments need to reckon with the unequal impact of inflation, arguing it requires carefully-targeted spending. [Extracted from the article]

(Bloomberg) -- Federal Reserve Bank of San Francisco President Mary Daly sees a high bar for slowing the central bank's 75 basis-point pace of interest-rate increases, though she's watching key data between now and their Nov. 1-2 meeting. Chair Jerome Powell and his colleagues have been front-loading rate increases in an effort to bring inflation, which peaked at a 40-year high of 9.1% in June, down toward the Fed's 2% target. [Extracted from the article]

With this being Prime Minister Ismail Sabri Yaakob's last budget before going to the polls, investors including BNP Paribas Asset Management and Areca Capital expect to see a populist plan that could involve cash handouts, which should benefit consumer staples companies. (Bloomberg) -- Malaysia's upcoming budget will bolster consumer staple companies with the government expected to increase spending ahead of a general election, while doing little to stem foreign outflows. [Extracted from the article]

Read more: Some of Truss's Top Team Say Her UK Project May Already Be Over "When people are on a fixed income, when they are pensioners, it is quite hard to adjust", Truss told LBC Radio on Tuesday. Liz Truss said she has yet to decide whether welfare payments in the UK should rise in line with inflation, an issue that threatens to spark another bitter dispute with disgruntled Conservative members of Parliament. [Extracted from the article]

"I've always supported -- whether it's pensions, whether it's our welfare system -- keeping pace with inflation", Mordaunt said, in comments that will pile pressure on Truss. Liz Truss said she has yet to decide whether welfare payments in the UK should rise in line with inflation, an issue that threatens to spark another bitter dispute with her disgruntled Conservative members of Parliament. [Extracted from the article]

(Bloomberg) -- Bosnia-Herzegovina's elections triggered an overhaul in the nation's collective presidency, but the result of the ballots has little chance of ending fragmentations along ethnic lines. The Croat representative in the top body, veteran politician Zeljko Komsic, kept his post there, despite complaints by the Croat community that he wins with Muslim votes due to Bosnia's troubled voting system. [Extracted from the article]

Hussain's lawyer, Rupert Bowers, asked the jury to evaluate Hussain's words with the "yardstick" of Pakistan's violent political culture, pointing out that his client had apologized for what ensued. In Karachi he could only find work in a textile mill, and then died when Hussain was just 13, leaving his 11 children dependent on Hussain's brother's civil-service salary as well as what their mother earned sewing clothes. The Karachi wing sought control of the party's British assets, alleging in a lawsuit that Hussain had siphoned millions of pounds of MQM funds into his own pocket. [Extracted from the article]

Former Bank of England policy maker Danny Blanchflower weighed in with criticism of UK Prime Minister Liz Truss's economic plan, concluding that investors should "short the pound." Read more: Truss Says UK Must Examine Tax Rates as She Goes For Growth UK Recession Will Force Next PM Into U-Turn, Blanchflower Says UK Probably Already in Recession, Former BOE Rate-Setter Says Blanchflower Says BOE Rate Rise Would Be "A Terrible Error" (Adds chart, details on pound.). [Extracted from the article]

Former Bank of England policy maker Danny Blanchflower weighed in with criticism of UK Prime Minister Liz Truss's economic plan, concluding that investors should "short the pound." The Dartmouth College economics professor who served at the UK central bank from 2006 to 2009 has long been critical of government plans that he says don't go far enough to help people on low incomes. Danny Blanchflower Criticizes Truss and Says "Short the Pound". [Extracted from the article]

(Bloomberg) -- Chicago has decided to prohibit its agencies, including the police department, from cooperating with out-of-state law enforcement in investigating those who travel to the city for abortions or gender-affirming care. While most cities offering protection focus exclusively on abortion access -- as did Lightfoot in her initial executive order -- Chicago's expanded law provides protection for those seeking gender-affirming care. [Extracted from the article]

Verizon launched its credit card with Synchrony in 2020. (Bloomberg) -- Three years after expanding into credit cards, Goldman Sachs Group Inc. has quietly signed up a third partner, T-Mobile US Inc. [Extracted from the article]

Turkey's top opposition leader is promising to spend more on welfare and write off loans for struggling low income Turks as part of efforts to drum up voter support. Kemal Kilicdaroglu, leader of the Republican People's Party and a likely contender against President Recep Tayyip Erdogan in elections next June, said on Sunday he would triple the share of social welfare spending to around 12% of the $300-billion state budget. Erdogan, who is more popular than Kilicdaroglu despite poll ratings hovering near all-time lows, announced a $50 billion project last week to increase home-ownership among lower-income voters. [Extracted from the article]

Just over a year into her job as Israel's economy minister, Orna Barbivay's ambition is colliding with political reality. For Barbivay, 60, politics is the second profession in which she's broken through the barriers of Israel's male-dominated workforce. [Extracted from the article]

If Wellstar goes through with the planned November closure of Atlanta Medical "this will be one of the greatest crime scenes in the history of Georgia", said Jones, of the Concerned Black Clergy of Atlanta. (Bloomberg) -- The Atlanta Medical Center sits on a vast stretch of urban land, just one mile south of Ponce de Leon Avenue -- the street that segregationists over a century ago designated as the dividing line between Black and White Atlanta. [Extracted from the article]

Davis and others point to a long history of investments in downtown Chicago that largely bypassed the city's historically Black and Hispanic neighborhoods. (Bloomberg) -- The roots of Chicago's modern-day challenges with crime, joblessness and inequality lie in decades-old divides that separate Black residents from White residents, and a prosperous downtown from neighborhoods to the south and west that have long struggled economically. Jobless Black and Latino youth turned to retail and service work while their White counterparts were able to find employment in higher-paying professional and related jobs downtown, according to the study. [Extracted from the article]

(Bloomberg) -- The Indian government has asked the central bank to prepare a "whitelist" of digital lending apps in a bid to crackdown on platforms that use unethical lending and recovery practices, the finance ministry said in a statement Friday. The Ministry of Corporate Affairs will identify and deregister shell companies to prevent their misuse, the finance ministry said. [Extracted from the article]

Disadvantages Enormous cost Freezing the price cap risks unlimited costs for either energy suppliers or the state. Back to business A household energy price cap does nothing for businesses and may drive their prices higher as suppliers try to recoup any additional costs. Liz Truss was named winner of the Conservative Party leadership race on Monday, following a lengthy final run-off against ex-chancellor Rishi Sunak. [Extracted from the article]

Liz Truss is expected to be named winner of the Conservative Party leadership race today, following a lengthy final run-off against ex-chancellor Rishi Sunak. Disadvantages Enormous cost Freezing the price cap risks unlimited costs for either energy suppliers or the state. Back to business A household energy price cap does nothing for businesses and may drive their prices higher as suppliers try to recoup any additional costs. [Extracted from the article]

(Bloomberg) -- On Aug. 10, Hillsborough County Public Schools started the school year short 620 teachers -- a more than threefold increase from last year when there were just 181 open positions. Officials in the western Florida school district spent $26 million to hike teacher pay, and used federal stimulus funds for $2,000 bonuses for special education teachers. [Extracted from the article]

(Bloomberg) -- President Joe Biden announced a sweeping package of student-debt relief that forgives as much as $20,000 in loans for some recipients, a move he said would help a generation "saddled with unsustainable debt." Read more: Biden to Unveil Student Loan Plan Allies Fret Is Too Meager Although they'd pushed for a higher per-borrower debt relief figure, progressive lawmakers hailed the forgiveness of $20,000 for Pell grant recipients as a major win. [Extracted from the article]

(Bloomberg) -- President Joe Biden announced a sweeping package of student-debt relief that forgives as much as $20,000 in loans for some recipients, a move he said would help a generation "saddled with unsustainable debt." Read more: Biden to Unveil Student Loan Plan Allies Fret Is Too Meager Although they'd pushed for a higher per-borrower debt relief figure, progressives lawmakers hailed the forgiveness of $20,000 for Pell grant recipients as a major win. In his speech outlining the student debt plan, Biden also is expected to discuss ways to make the student-loan system more manageable for current and future borrowers by cutting monthly payments in half for undergraduate loans. [Extracted from the article]

(Bloomberg) -- President Joe Biden announced a sweeping package of student-debt relief, forgiving as much as $20,000 in loans for some recipients and extending the moratorium on repayments for four months until the end of the year. In his speech outlining the student debt plan, Biden also is expected to discuss ways to make the student-loan system more manageable for current and future borrowers by cutting monthly payments in half for undergraduate loans. Read more: Biden to Unveil Student Loan Plan Allies Fret Is Too Meager Although they'd pushed for a higher per-borrower debt relief figure, progressives lawmakers hailed the forgiveness of $20,000 for Pell grant recipients as a major win. [Extracted from the article]

In his speech outlining the student debt plan, Biden also is expected to discuss ways to make the student loan system more manageable for current and future borrowers by cutting monthly payments in half for undergraduate loans. Biden will also announce changes Wednesday to the current loan system, allowing borrowers with loans from their undergraduate years to cap repayments at 5% of their monthly income. Read more: Biden to Unveil Student Loan Plan Allies Fret Is Too Meager Although they'd pushed for a higher per-borrower debt relief figure, Progressives said they viewed the forgiveness of $20,000 for Pell grant recipients as a major win. [Extracted from the article]

(Bloomberg) -- President Joe Biden announced a sweeping package of student-debt relief, forgiving $10,000 in debt for borrowers who earn less than $125,000 per year and households who earn less than $250,000 and $20,000 in debt for Pell grant recipients. Biden will also announce changes to the current student loan system, where if you have undergraduate loans, you can cap repayment at 5% of your monthly income. [Extracted from the article]

He's also aware of the issues that short-term credit can create, noting that Zilch doesn't allow users to pay off their accounts with a credit card, cycling from debt to debt. (Bloomberg) -- The corporate TikTok account for Zilch features brunch plates, tourist trips and snacks for the office dog: buy now, pay later as a lifestyle. Lockdown Debts Michael Quinn, a 36-year-old who is unemployed and living in Glasgow, uses Zilch to split the cost of his groceries and energy bills over six weeks, paying it off with his government benefits. [Extracted from the article]

Nightclubs are being hit by rocketing energy bills, while inflation has pushed consumer confidence to a record low and convinced many people to cut out their non-essential spending. With the cost of natural gas more than tripling since May and pushing up power prices, more companies are finding costs they once thought were predictable are starting to eat into their earnings. [Extracted from the article]

Australia ranked highest in the region in 2021, while Singapore was second, according to HSBC, which did not say how the US compared for that year. (Bloomberg) -- Singapore will overtake Australia to have Asia's highest share of millionaires in the adult population by 2030, according to a report by HSBC Holdings Plc. [Extracted from the article]