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The Latest Breaking News from Economy

Countryside business boom as almost 100,000 new rural firms launched

The countryside economy was in ‘good health, generating billions for the economy and supporting millions of jobs’, experts said.

The Independent UK

Proportional representation system need of the hour in India: Parakala Prabhakar

Political economist Parakala Prabhakar advocates proportional representation for India. He argues that FPTP system has weakened democracy, economy and secularism. He cites Farm Bills' passage and withdrawal without any meaningful debate as example. Binoy Viswam calls for electoral reforms and the right to recall non-performing MPs/MLAs.

The Hindu

‘People just want change’: political circus at Iowa state fair can’t dispel civic discontent

Presidential aspirants make the pilgrimage to Des Moines amid a sense of America as nation sunk in a political depression

The Guardian - US

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Toyota Estimates 27 MPG Combined For 2024 Land Cruiser

It’s a manufacturer estimate for now, but it’s better than some of its competitors.

Motor1

Biden and House Democrats hope to make curbing 'junk fees' a winning issue in 2024

The White House is taking on “junk fees,” those extra charges tacked on to plane tickets, hotel rooms, hospital bills and more

The Independent UK

Yes, inflation is down. No, the Inflation Reduction Act doesn't deserve the credit

Even President Joe Biden has some regrets about the name of the Inflation Reduction Act

The Independent UK

Trade deficit in danger of being sidelined in UK’s fight against inflation

Only serious, long-term business investment will help structural problems and inequalities

The Guardian - UK

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BJP gave RLD 'respect', any decision on forging alliance to be taken by leadership of both parties: U.P. Minister

RLD alliance with BJP in 2009 LS polls proved "advantageous" as it won 5 seats. BJP has 80% vote share in UP. Akhilesh's 2022 prediction wrong; BJP, Yogi working to make UP $1T economy. UP govt signed MoA with Tata Tech to upgrade 150 ITIs.

The Hindu

Putin and Xi are the Laurel and Hardy of statesmen – but it’s no laughing matter

China’s paramount leader, like his Russian counterpart, is making a fine mess of his country’s economy and world standing

The Guardian - UK

The Chicago school economist who warned years ago of America's ‘business dynamism’ fading still sees 'something broken in the background'

Ufuk Akcigit and Sina Ates wrote a paper in 2019 that tracked four decades of economic decline in the U.S. The problems haven't gone away.

Fortune

Behind the ticking time bomb – should we fear China’s slide into deflation?

China was expected to roar back into life after Covid, but its weak rebound has shocked analysts

The Guardian - UK

Biden's reelection bid faces vulnerabilities in wake of special counsel appointment

Democrats were already concerned about President Joe Biden’s age, his leadership on the economy and his stalled agenda in Congress

The Independent UK

Biden’s ‘ticking time bomb’ remark referred to China’s economy: White House

US President told political fundraiser that China was ‘in trouble’ due to internal economic and social tensions.

Al Jazeera

3 China Stocks Smart Money is Watching Closely

Despite a subdued and underwhelming outlook for the broader economy, fundamentally strong Chinese stocks Alibaba (BABA), Trip.com (TCOM), and Hello Group (MOMO) represent pockets of sustained growth that have courted the attention of smart money on Wall Street. Continue reading….

StockNews.com

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Fortune

A pharma company helping Elon Musk shed weight is now worth more than the entire economy of Denmark

The weight-loss and diabetes injectables have seen a surge in demand primarily in the U.S., buoying Novo Nordisk’s profits in the first half of 2023.

The Independent UK

Argentines to vote in a primary election that's expected to set the stage for a rightward shift

Argentina’s national primary election Sunday won’t just help determine which candidates will be running in the country’s October presidential vote but could impact the economy even before then

The Hindu

Implementation of five guarantees has positive effect on State’s economy: CM

CM Siddaramaiah maintains guarantees positively impacting State economy, increasing GSDP. 35 crore women travelled free under Shakti bus scheme, increasing revenue. 3 guarantees implemented, 4th & 5th to come. BJP desperate, baseless allegations. Congress in power due to welfare & dev promises.

The Guardian - UK

China’s recent economic woes suggest there is something seriously amiss

Underlying longer-term weaknesses in the economy are bound up with Beijing’s repressive political system

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Barchart

Markets Today: Stocks Fall on a Hot U.S. July PPI

Morning Markets September E-Mini S&P 500 futures (ESU2 3) this morning are down -0.25%, and Sep Nasdaq 100 E-Mini futures (NQU2 3) are down -0.47%. Stock indexes this morning are moderately lower. Concerns that weakness in China’s economy will curb global growth prospects are weighing on stocks. Losses in stock...

The Conversation

Wildfires are a severe blow to Maui's tourism-based economy, but other iconic destinations have come back from similar disasters

Major wildfires on the Hawaiian island of Maui have killed dozens of people and caused heavy damage, particularly in the historic town of Lahaina, as of Aug. 10, 2023. The state has asked all visitors to leave Maui and those planning to travel there to reschedule their trips – a…

Evening Standard

OPINION - The Standard View: The UK economy is stuck in a low-growth trap

The UK economy is not in recession but it is stuck in a low-growth trap. GDP in the three months to June registered a 0.2 per cent jump, marking the fifth successive quarter in which the economy has kept its head above water since a 0.5 per cent advance in…

Evening Standard

City bets on fresh Bank of England interest rate hike as GDP leap beats forecast

The interest rates outlook will become clearer when the ONS reveals the latest wages and inflation data next week

The Independent UK

Rishi Sunak’s five pledges hanging in the balance after several setbacks

Shortly after moving into No 10, the Prime Minister invited the British public to judge him on five key promises.

Evening Standard

London business groups team up to deliver plan for ‘higher-paying jobs’

Unemployment in London has consistently been higher than the UK average, despite the capital being the main driver of the UK economy

The Independent UK

British economy unexpectedly grows by 0.2% in second quarter largely because of June weather boost

The British economy unexpectedly grew in the second quarter of the year largely as a result of a strong rebound in June when many businesses, particularly in the leisure sector benefited from the warm and settled weather

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