Indonesia plans to switch to a single time zone on Oct. 28, allowing Southeast Asia’s biggest economy to match clocks in Singapore, Malaysia and China with the aim of boosting economic development and synchronizing markets, the nation’s trade ministry said.
U.K. public-sector workers are prepared for “indefinite” industrial action on a scale not seen since the 1926 general strike to challenge government pension plan changes, Dave Prentis, head of the country’s largest labor union, said in an interview with the Guardian.
The U.K. unemployment rate rose to the highest in 15 years in the three months through August, adding pressure on the government to loosen its fiscal squeeze as the economy struggles to avoid recession.
British lawmakers said investors are making too much money out of the privately financed delivery of public services and called on Prime Minister David Cameron to explore other ways of paying for them.
Prime Minister David Cameron ’s coalition said it wanted to send a “shock wave” through departments as it announced 6 billion pounds ($8.6 billion) of spending cuts, the first steps toward reducing Britain’s record budget deficit.
U.K. 10-year government bond yields stayed near the highest in more than a month as rising stocks and higher-than-estimated industrial output in China damped demand for the safety of fixed-income assets.