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The Latest Breaking News from Economy

Rishi Sunak’s upbeat view on economy stokes claims he is out of touch

On flight to Japan for G7, PM says ‘economic optimism is increasing’ and insists Brexit is working

The Guardian - UK

Biden's Experience Doesn't Mean He Can Plan an Economy

No amount of experience can solve the "knowledge problem."

Reason

Johnson administration distances itself from $12 billion tax plan co-written by member of transition team

The plan by the Action Center on Race & the Economy and the People’s Unity Platform “has nothing to do with what we’re trying to do,” said Jason Lee, a senior adviser to Mayor Brandon Johnson. The mayor’s approach, Lee said, involves “sober analysis of what might be feasible.”

Chicago Sun-Times

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Brexit working by making beer cheaper, claims Rishi Sunak

Prime Minister insists economy ‘moving in right direction’ after criticism from Tory right

Evening Standard

'A positive start': First meeting of new Scottish Government business group

A Scottish Government meeting attempting to deepen links with Scotland’s private sector has been labelled “a positive start”...

The National (Scotland)

Larry Summers says the debt limit fight could shave $6 trillion from U.S. markets

Summers says the current debt limit debate has many similarities with the 2011 standoff that dealt a major blow to markets.

Fortune

Welsh Government gives go-ahead to Green Man to press on with plans for Gilestone Farm

Economy minister Vaughan Gething

Wales Online

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Rishi Sunak cites cheap beer and sanitary products as benefits of Brexit

On his way to the G7 summit, the prime minster insists household income is ‘outperforming’ expectations

The Guardian - UK

Biden says he’s ‘confident’ US won’t default on debt

‘America will not default,’ President Biden says

The Independent UK

Darwin’s ‘sustainable’ Middle Arm development is key to huge fossil fuel projects, documents show

Exclusive: Middle Arm has been sold as ‘sustainable’ but papers reveal the Albanese government was briefed on the project’s links to new fossil fuel developments, including fracking in the Beetaloo basin

The Guardian - AU

5 tips to tackle a home remodel in an uncertain economy

Homeowners may be reconsidering their remodeling plans this year because of the economy’s recent turbulence, but planning and prioritizing can help you accomplish projects with confidence

The Independent UK

OPINION - The Standard View: The Government must axe the tourist tax harming London

Ministers often stress that they are here to listen to business. A good place to start would be to axe the tourist tax on foreign shoppers before yet further damage is done to the capital’s global reputation — and economy.

Evening Standard

Elon Musk says US and China tensions over Taiwan control should be 'concern for everyone'

The Twitter CEO described the Chinese economy and global economy like 'conjoined twins' as he warned of the potential catastrophic impact of a Chinese invasion of Taiwan

Daily Mirror

Zelda: Tears of the Kingdom duplication glitch already has the game's economy in shambles

Link's printing money

GamesRadar

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Businessweek

Recession Calls Keep Getting Pushed Back, Giving Soft Landing Believers Hope

Defying sharp rate hikes, unemployment stays low and consumers resilient.

Evening Standard

What is the tourism tax? Jeremy Hunt could scrap controversial measure affecting London

Businesses have been urging the prime minister to reinstate tax-free shopping for tourists

The Independent UK

Top German ministry official resigns after accusations of favoritism

A top official at the German economy and climate ministry has resigned following accusations that he was involved in choosing his best man to head the federally owned German Energy Agency and signed off on financial support for a project in which his sister was involved

Evening Standard

Silvertown tunnel among projects hailed as ‘exemplar’ boost to London economy

Work on the newest Thames tunnel – roughly beneath the Emirates cable car – has stirred controversy

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Reuters

German economy ministry official leaves post amid nepotism scandal

A senior official in the German economy ministry is leaving his post after a nepotism scandal, Economy Minister Robert Habeck confirmed on Wednesday.

The Hindu

It's important to de-risk global economy in era of volatility and uncertainty: Jaishankar

In the era of volatility and uncertainty, it’s important to de-risk the global economy and yet to ensure that there is very responsible growth, External Affairs Minister S. Jaishankar has said. His remarks came following the first meeting of the India-EU Trade and Technology Council (TTC) held in Brussels on…

Bangkok Post

Ceremony foretells ample water, food and prospering economy

Sufficient water, abundant crops and a prosperous economy were predicted during the Royal Ploughing Ceremony at Sanam Luang in Bangkok presided over by Their Majesties the King and Queen on Wednesday morning.

The Independent UK

Japan's economy rebounds on healthy consumption as COVID restrictions ease, tourists arrive

Japan’s economy has grown at an annual pace of 1.6% in the quarter through March

360info

How the US could easily avoid default

As the US hits its $31 trillion debt ceiling, there's a danger it could default. Yet the solution to avoiding the debt ceiling is surprisingly simple.

ABC News

What is the US debt ceiling? How does it affect the economy? Could Australia be impacted?

The United States is rapidly running out of money to pay its bills unless the Republicans and Democrats can agree on a new deal. Here's how the US got here, and what it means for Australia.

Bangkok Post

Sluggish economy tames local oil prices

Diesel prices dipped again on Monday to around 32 baht a litre as global crude oil prices are on a decline.

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