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The Latest Breaking News from Economy

Salaries, hiring, AI: Here’s what’s really happening with U.S. tech jobs

In the first half of 2023, the U.S. shed almost 100,000 tech jobs.

Fortune

Rising long-term interest rates are posing the latest threat to a US economic 'soft landing'

Surging interest rates are intensifying the challenges for the U.S. economy and threatening to derail the Federal Reserve’s drive to tame inflation without causing a deep recession

The Independent UK

Cricket World Cup may add $2.6 billion to Indian economy

The Cricket World Cup may boost host country India’s economy by as much as 220 billion rupees ($2.6 billion), economists at Bank of Baroda estimate.

The Times of India

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T.N. CM Stalin inaugurates Hitachi Energy’s biggest Global Technology and Innovation Centre in Chennai

Tamil Nadu Chief Minister M.K. Stalin inaugurated Hitachi Energy's largest Global Technology and Innovation Centre in Chennai. The Centre will house over 2,500 energy transition technologists and is equipped to execute over 1,000 projects a year. Mr. Stalin said the State is creating sector-specific parks and policies to attract investments…

The Hindu

Punjab debt goes up by over ₹47,000 crore, experts call for check on freebies

Punjab's debt has risen to ₹47,000 cr in 1.5 years, prompting calls to rationalise freebies. CM Mann said ₹27,000 crore went to interest payments. Economists suggest road map to come out of crisis & mobilise resources.

The Hindu

Evergrande, the ‘runaway’ developer that could become a wrecking ball for China’s economy

The regulatory crackdown that sparked arrests and a debt crisis in China’s second-biggest developer may do more harm than good to market, say analysts

The Guardian - AU

IMF expects continuing US support for Ukraine despite Congress dropping aid

The International Monetary Fund says it expects the U.S. to continue playing its key role in amassing multinational support that has helped keep Ukraine’s economy afloat during Russia’s invasion

The Independent UK

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Janet Yellen: Surprisingly resilient American consumers blocked a recession—and now the Fed could keep interest rates higher for longer

Janet Yellen's interest rate predictions, recession outlook, and thoughts on semiconductors and China.

Fortune

How oil and gas company tax reliefs could lose the UK billions

The recently-approved Rosebank oil field in the North Sea has been touted as a way to boost the UK economy and its energy security. But even with its windfall tax on energy company profits, the project is a good example of how the UK could miss out on billions in…

The Conversation

What are bond yields and why are they at a 25-year high in UK?

Inflation expectations have pushed up government’s long-term cost of borrowing, which is expected to slow economy

The Guardian - UK

Cryptocurrencies Slide As Housing Concerns Mount

Higher interest rates and potential recession fears drive major crypto market decline

Zenger

Central banks ‘risk global recession unless they relax 2% inflation targets’

Economic arm of UN says pro-growth stance needed, with interest rate rises increasing inequality

The Guardian - UK

Companies surprisingly busy despite slowing economy

The Australian services sector continues to bring in a lot of new business even as interest rates remain high and consumers start to pull back.

AAP

Climate scientist faces sack for refusing to fly to Germany from Solomon Islands archipelago

Dr Gianluca Grimalda told by Kiel Institute for World Economy he must be at his desk on Monday after finishing fieldwork

The Guardian - UK

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France 24

Protesters in Ghana demand resignation of central bank governor

In tonight's edition: Frustration over Ghana's worst debt crisis in a generation bubbles over onto the streets. Thousands march in protest against the central bank governor, whom they accuse of dismally mismanaging the economy. Also, US President Joe Biden thanks his Kenyan counterpoint for stepping up to lead a UN…

Fortune

Janet Yellen says AI's 'unbelievably rapid' development could 'make a significant difference' in boosting the economy—but she wants to be careful

"I don’t believe we should decouple at all from China," the Treasury Secretary told Fortune CEO Alan Murray, "but I do think we need to derisk."

Ballotpedia

Senators ask Treasury for additional climate finance regulation

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the environmental, social, and corporate governance (ESG) trends and events that characterize the growing intersection between business and politics.

The Independent UK

EU announces plans to better protect its sensitive technologies from foreign snooping

The European Union has announced plans to better protect its cutting-edge technologies from foreign snooping that might threaten its economy and security

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news in one place.

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Barchart

1 Undervalued Chinese Stock to Buy Near 52-Week Lows

JD.com stock fell to new 52-week lows last week, and has lost almost half of its market cap in 2023. The stock now looks quite undervalued after the recent sell-off, and could offer strong returns in the medium to long term.

Zenger

IMF Head Backs Reforms To Increase China’s Voting Power

IMF's Georgieva supports giving China more voting power amid global economic changes.

The Guardian - UK

Green economy workers: how will the UK’s net zero U-turns affect you?

We want to hear from people working across the UK’s green economy sectors about how they will be impacted by the prime minister’s net zero U-turns

The Times of India

2023 ODI World Cup: From Kuldeep to Rashid - Watch out for these spinners

With India set to host the 2023 ODI World Cup after a hiatus of 12 years, the spinners are licking their chops in anticipation of bagful of wickets on helpful, turning Indian tracks.

The Conversation

Climate change is about to play a big role in government purchases – with vast implications for the US economy

Each year, the federal government purchases about 50,000 new vehicles. Until recently, almost all of them ran on diesel or gasoline, contributing to U.S. demand for fossil fuels and encouraging automakers to continue focusing on fossil-fueled vehicles.

Radio France Internationale

UN approves Kenya-led mission to combat gangs in Haiti

The United Nations Security Council has approved a Kenya-led mission aimed at bringing stability to Haiti, where violent armed gangs have taken over parts of the Caribbean country, leaving the economy in tatters.

The Texas Tribune

Texas’ unemployment rate is among the nation’s worst — but experts say it signals a growing economy

The state has yet to return to its pre-pandemic unemployment rate of about 3.5%, even as it leads the country in new jobs created. However, state economic experts say the unemployment rate is an indicator of Texas’s rapidly growing population and labor force.

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