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The Latest Breaking News from Economy

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

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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

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…

France 24

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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."

Fortune

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.

Ballotpedia

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

The Independent UK

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.

Barchart

IMF Head Backs Reforms To Increase China’s Voting Power

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

Zenger

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 Guardian - UK

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 Times of India

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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.

AAP

New workplace laws are 'life and death legislation'

Businesses across Australia have spent millions of dollars on a campaign against workplace reforms that unions say stop gig economy worker deaths.

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Zenger

Israel Slashes Gasoline Tax For Palestinian Authority, Eases Financial Strain

Reduction to save $21 million annually; other measures aim to support struggling economy amidst political tensions.

Caixin Global

Caixin China New Economy Index Rises Again on Growing Investment

The NEI increased 1.5 points in September to 31.9, marking a third straight month of growth

Al Jazeera

Fears China ‘closing in on itself’ amid crackdowns, rising nationalism

From laws on espionage and security to fewer foreign films and clothing bans, is China turning away from the world?

Zenger

Chad Looks To Israeli Agritech To Transform Economy

Israeli initiative supports Great Green Wall, providing Chad with vital agricultural technologies

The Independent UK

Fed's Powell gets an earful about inflation and interest rates from small businesses

Federal Reserve officials typically gather many of their insights and observations about the economy from some of the top Ph.D. economists in Washington

The Guardian - UK

Hunt’s speech pleases Tory faithful but is unlikely to resonate with voters

Cost of living crisis, rising unemployment and extended NHS waiting times will determine government’s chances in general election

The Conversation

Glaciers can give us clues about when a volcano might erupt

Globally, there is about one volcano erupting each week. Volcanic unrest kills an average of 500 people every year and costs the global economy roughly US$7 billion (£5.7 billion). With one in 20 people living somewhere at risk of volcanic activity, every effort that can be made to improve the…

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