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The Latest Breaking News from Economy

Long COVID cost the Australian economy almost $10 billion in 2022 – new research

The World Health Organization (WHO) estimates 10–20% of people suffer from long COVID after they recover from the initial COVID infection.

The Conversation

Asian stocks are mixed after Wall Street's best week of the year

Asian stocks are mixed as investors ponder the upcoming meeting of the Federal Reserve, while Wall Street coasted to the close of its best week since November with a slight uptick in U.S. stocks Friday

The Independent UK

Long COVID cost economy $9.6b in lost work hours

Research shows long COVID meant about 100 million work hours were missed in 2022, costing the Australian economy billions.

AAP

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Greens condemn ‘deeply flawed’ deal – as it happened

This blog is now closed.

The Guardian - AU

The tail wags the dog: Top recession indicator now slows the economy, creator says

"So as a CEO, when you see an inverted yield curve, you're just less likely to pull the trigger on a bet-the-farm type of investment."

Fortune

Recycling more than pop cans: A circular economy for our energy landscapes

From cereal boxes to our distinct milk bags, Canadians have been told that one of the best things we can do for the planet is to embrace the circular economy — reusing, repurposing or reallocating assets to ensure they’re kept within useful circulation as long as possible, and ideally forever.

The Conversation

GDP growth is strong but it masks UK plc’s deep-seated structural problems

Rachel Reeves must show how the Tories failed to tackle longstanding productivity, investment and trade deficits and stress how Labour can

The Guardian - UK

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Thailand’s Paetongtarn Shinawatra sworn in as PM after royal sign-off

The economy in the divided country will be the new young leader’s ‘bread and butter’ issue, analysts say.

Al Jazeera

High stakes at Jackson Hole symposium as Powell surveys US’s rocky prospects

Presidential candidates, bankers and economists will all be keen to hear what the Fed chair foresees for interest rates

The Guardian - UK

‘Share government data to boost economy’, says UK statistics watchdog chief

The UK Statistics Authority’s chair says linking data sets from departments could aid growth and improve services• We need to make data sharing across UK government the rule, not the exception

The Guardian - UK

Australia’s productivity riddle – and what it might mean for interest rates

Michele Bullock keeps telling us productivity is flatlining. How it changes may well determine if the Reserve Bank will tolerate wage rises beyond 3%

The Guardian - AU

Slow the growth, save the world? Why declining birth rates need not mean an end to prosperity

The pursuit of eternal growth is toxic, campaigners say. The economy, and the planet, can thrive with fewer people

The Guardian - AU

Harris takes a populist tone on the economy. Will it help with young voters?

Polling shows young voters care about the cost of housing

The Independent UK

In major policy speech, Kamala Harris promises to ‘bring down costs’

US Democratic presidential candidate presents plan to tackle food ‘price gouging’, child care and housing costs.

Al Jazeera

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The Guardian - US

Harris is pitching an ‘opportunity economy’ to voters. Will it sway them?

Democratic nominee’s Friday speech gave most specific economic proposals of her campaign so far

The Guardian - US

Harris vows to build ‘opportunity economy’ and attacks Trump on tax

Democratic nominee unveils proposals to lower cost of living and advocates ban on price-gouging by big companies

Barchart

Dollar Slides and Gold Soars to a Record on Dovish Fed Comments and Soft US Housing News

The dollar index (DXY00 ) Friday fell by -0.50% on dovish comments from Chicago Fed President Goolsbee, who said the US labor market and some leading indicators on the economy are flashing warning signs. The dollar also retreated on Friday’s weaker-than-expected US July housing starts report. The dollar extended its...

The Independent UK

Kamala Harris promises to lower costs as she slams Trump for having ‘no serious plans’ to help middle class

‘Key to creating this opportunity economy is building up our middle class,’ Harris said

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Radio France Internationale

Can France solve the economic collapse and unrest plaguing New Caledonia?

Three months into deadly protests in New Caledonia – sparked by a proposed constitutional reform that reignited tensions over independence – confrontations in the French territory persist, and its economy is in shambles. President Emmanuel Macron wants to hold talks in September, but does the government have anything to offer?

Barchart

Dollar Slides and Gold Rallies on Disappointing US Housing News

The dollar index (DXY00 ) today is down by -0.23% on dovish comments from Chicago Fed President Goolsbee, who said the US labor market and some leading indicators on the economy are flashing warning signs. The dollar is also lower on today’s weaker-than-expected US July housing starts report. The dollar...

The Conversation

How a currency devaluation in Kazakhstan made the country’s poor worse off

It is the job of the government to keep a country’s economy in check. But sometimes policies don’t work out as planned. Governments often take economic decisions that follow specific political agendas, and these decisions are not always beneficial for everyone.

The Conversation

Oil prices will whipsaw as we move to net zero, which could be disastrous for low-income producer countries

One huge question for the future of the global economy is how oil will be affected by the transition to net zero. Any energy economist will tell you that predicting oil prices is something of a fool’s errand, given all the uncertainties involved – but it would be even more…

The Conversation

Ethiopia’s bold economic reforms target stability and growth, but they come with risks

Ethiopia’s recent macroeconomic reforms, supported by the International Monetary Fund (IMF) and the World Bank, could have profound implications for the country and the region. The key reforms include the use of a floating exchange rate system and of interest rates as a policy tool.

Reason

Harris' Economic Illiteracy

Plus: Taylor Lorenz scandal, Chinese economy in trouble, tax-free tips, and more...

Fortune

'Black Swan' hedge funder warns a recession is coming this year—and the biggest market bubble in history will soon pop

“It’s not different this time,” Mark Spitznagel, cofounder and CIO of the private hedge fund Universa Investments, told Fortune.

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