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The Latest Breaking News from Economy

UK’s growth is a silver lining – and the clouds suggest recession looms

The chancellor says the economy is resilient but forward-looking indicators suggest otherwise

The Guardian - UK

Time to ‘see the job through’ on halving inflation, Hunt says

The Chancellor acknowledged household budgets are stretched but insisted the plan to halve inflation ‘is working’

Evening Standard

India will play an important role in trade realignment globally: Former U.S. Assistant Commerce Secretary Arun Kumar

India can play a pivotal role in global manufacturing post-pandemic, says Arun Kumar, former US Assistant Sec. of Commerce. He envisions a world where nations have learnt from the havoc wreaked by centralising manufacturing in China. His new book, The Global Trade Paradigm, explores how to rethink international business.

The Hindu

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Himachal Pradesh to tap tourism potential with 16 heliports soon: CM Sukhvinder Singh Sukhu

Himachal Pradesh CM Sukhu announces 16 heliports to be constructed across districts to facilitate tourist access to unexplored destinations. 9 heliports in 1st phase, 7 in 2nd. Kangra Airport to be expanded. Aim to increase tourist footfall & achieve 5 crore arrivals/yr. Boost local tourism & economy.

The Hindu

Northeast faced connectivity issues but that has completely changed: Union Minister Rajeev Chandrasekhar

Union Minister Rajeev Chandrasekhar said the Northeast has undergone a "dramatic transformation" to become a competitive investment destination. Connectivity has improved, allowing for economic expansion and job creation. To boost growth, 2.5 lakh students in the region will be skilled at an expenditure of ₹400 crore, funded by the Centre.…

The Hindu

China’s economic slowdown, its ripple effect

The news about China’s economic slowdown has caused mixed reactions and so, understanding the causes and the magnitude is essential.

The Hindu

An uneven rebound: On the economy

The months ahead could prove to be more challenging for the Indian economy with global headwinds combining with domestic pressures

The Hindu

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Watch: Joe Biden makes statement after US economy adds 187,000 jobs

Watch as Joe Biden makes a statement on Friday, 1 September, on the US economy after it added 187,000 jobs in August.

The Independent UK

Jobs are up, wages less so – and lower purchasing power could still lead the US into a recession

Don’t be overly fooled by seemingly rosy jobs data heading into the Labor Day weekend.

The Conversation

Britain no longer an economic outlier after ‘extraordinary’ GDP upgrade by ONS

Jeremy Hunt said ‘those determined to talk down the British economy have been proved wrong’

The Independent UK

Green transition takes centre stage at top French business gathering

This week we're at the 2023 annual MEDEF meeting, where the largest employers' federation in France gets leaders of the country's business community together to discuss the opportunities and challenges that lie ahead – one of them being the transition to a green economy. A world leader when it comes…

France 24

UK on recession alert after big falls in factory output and house prices

Signs of distress from very different parts of economy will add to Bank of England’s dilemma over interest rates

The Guardian - UK

US economy adds 187,000 jobs, beating expectations

The unemployment rate jumps to 3.8 per cent, with the trucking industry hit hard by closure of giant firm

The Independent UK

UK economy bounced back from pandemic much faster than previously thought, revised GDP figures show

The new stats say the UK economy hit its pre-pandemic size by the end of 2021, a stark difference from data that claimed GDP today is still below 2019 levels

Evening Standard

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The Independent UK

US jobs report for August could point to a moderating pace of hiring as economy gradually slows

Slowly and steadily, an overheated American job market is returning to room temperature

The Hindu

‘Sugar helped rise of capitalist economy,’ says Ulbe Bosma, author of The World of Sugar: How the Sweet Stuff Transformed Our Politics, Health, and Environment over 2000 Years

Sugar has been a key commodity in global capitalism since the 17th century, becoming ubiquitous with globalisation. Ulbe Bosma's book explores its history, highlighting India and Asia's role in shaping the world of sugar. It also reveals how the Atlantic slave trade contributed to the West's rise and how labour…

The Hindu

Janet Yellen to attend India G20 summit, focus on economy, climate: U.S. Treasury

She will “continue to build momentum” for her drive to evolve the World Bank and other multilateral lenders to boost financing capacity to aid developing countries’ clean energy transitions, tackle pandemics, fragility and conflict, the Treasury said.

The Independent UK

India shows an impressive 7.8% economic growth in April-June quarter

India’s economy has clocked up impressive growth of 7.8% in the first quarter of the current financial year, mainly due to good performance by the agricultural and financial sectors

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The Conversation

Australia needs a 'knowledge economy' fuelled by scientists and arts graduates: here's why

The federal government has been asking for “bold ideas” to “reimagine” the future of Australian higher education for decades to come.

Fortune

The $8.5 billion ‘Barbenheimer,’ Beyoncé, and Taylor Swift bonanza is fading, and the summer’s pop culture economy is giving way to a winter in consumer spending, Morgan Stanley warns

The historic summer of entertainment created a one-off economic boom that may be nearly impossible to replicate next quarter.

Fortune

Malaysian Prime Minister Anwar Ibrahim has an ambitious plan to rid his country of corruption and turn its economy around—starting with Elon Musk

The prime minister reveals how he wants to get more women working, balancing the U.S. and China, and his "long conversation" with Nelson Mandela.

Reason

China Is No Economic Model for America

The country's current struggles show the problems of the Beijing way—and make the case for freedom.

The Hindu

CII to do a comprehensive study across Tamil Nadu

CII works to position TN as leader in socio-economic dev. with white paper to help achieve $1 trillion economy by 2030. Questionnaires sent to 400 participants from 15 sectors to get feedback on 12 parameters. White paper to be submitted to TN govt. ahead of GIM. CII to look at…

The Independent UK

US applications for jobless claims inch back down as companies hold on to their employees

U.S. applications for unemployment benefits fell slightly last week as businesses continue to retain employees in an economy that has largely withstood rapidly rising interest rates for more than a year

The Guardian - UK

Mountain view: Bank top economist offers two routes to beating inflation

Huw Pill says he prefers longer, more steady use of interest rates of Table Mountain model over sharp rise and fall of Matterhorn approach

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