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The Latest Breaking News from Economy

How the regional banking crisis is hitting the economy

Lending is almost certain to tighten, creating a new headwind for an otherwise decent economy.

Axios

4 CEOs sound off on inflation, interest rates, and where the economy is headed

At the annual Milken Institute Global Conference, chief executives gave insight into what's to come.

Fortune

Riyadh Conference Stresses Solid Foundations in Building Digital Economy

The Global Asset Allocation Conference underlined on Tuesday the importance of new rules and patterns to strengthen the digital economy. The conference was organized by the Family Office and held in the Saudi capital, Riyadh. Prince Turki Al-Faisal bin Abdulaziz, President of the King Faisal Center for Research and Islamic…

Asharq Al-Awsat

From analysis to the latest developments in health,
read the most diverse news in one place.

Lloyds beats forecasts with 46% profit rise after interest rates boost

Banking group expects the economy to fall by 0.6% in 2023 overall, slipping into a 'mild recession' over the first three quarters

Insider UK

Fed to raise interest rate again amid core inflation pressure

Expected hike in benchmark rate to a range of 5% to 5.25% could push US into recession

The Guardian - UK

GDP growth outlook maintained at 3.0-3.5%

Thailand's economy is expected to grow 3.0% to 3.5% this year, a leading joint business group said on Wednesday, unchanged from a previous forecast as the tourism sector gathers steam and exports remain weak.

Bangkok Post

Small businesses seek to avoid possible credit crunch as Federal Reserve raises rates once more

Small businesses – the heartbeat of the U.S. economy – are beginning to feel the pinch of tighter credit conditions as the Federal Reserve continues to increase borrowing costs.

The Conversation

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Rising turmoil is making Fed's rate decisions more perilous

Poised to raise interest rates Wednesday for a 10th time, Federal Reserve officials are facing two competing economic trends that could make their future rate decisions more difficult and treacherous

The Independent UK

Economist Henrik Zeberg Expects History To Repeat Itself In The Worst Stock Market Crash

Companies including Morgan Stanley are making job cuts as the economy is feared to go into a recession in an unknown period.

Zenger

French minister’s steamy novel turns up heat on Macron

Sex scene in Bruno Le Maire’s book provokes ridicule and anger among opposition politicians

The Guardian - UK

Best Of The Best: Top 3 Quality Stocks for Investors Looking for Stability

Heightened recessionary fears in the economy and the current banking sector jitters is weighing on the stock market. Hence, it could be wise for investors to buy quality stocks NuStar Energy (NS), Spirent Communications (SPMYY), and Westlake Chemical (WLKP), which pay stable dividends. Read more.

StockNews.com

Tory minister: I am an excellent advocate for Scotland overseas

THE UK Government has been accused of “sabotaging” the Scottish economy with its “petty” restraints on the international work of Edinburgh…

The National (Scotland)

US concerned by China's 'punitive' actions toward American firms

U.S. Ambassador to China Nicholas Burns said on Tuesday Washington was very concerned about China's recent "punitive" action toward some U.S. companies, and that foreign firms are delaying investments in the country due to uncertainty about the openness of its economy.

Reuters

Welsh Government partners with Innovate UK to boost economy in Wales

The partnership with Westminster's innovation agency is the first to be agreed with a devolved government

Birmingham Post

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The Times of India

Unemployment rate climbs to 4-month high in April: CMIE survey

NEW DELHI: India’s unemployment rate climbed to a four-month high, the latest data showed, as there were more people joining the workforce compared to available jobs in Asia’s third largest economy.

Insider UK

Scottish economy grows as UK set to avoid recession this year

Sluggish growth in specific industries like manufacturing has been blamed on wider supply chain issues

The Guardian - AU

Philip Lowe says rebounding property market among reasons for shock RBA rate increase

Governor of central bank says rate pause in April had given board ‘more time to assess the pulse of the economy’ before Tuesday’s increase to 11-year high

The Conversation

Albania's developing tourism industry could help stop its young people from leaving – and boost its economy

It has been more than 30 years since Albania opened its doors to tourists, but telling a friend that you’re off to Tirana or Dhërmi for a long weekend might still raise some eyebrows.

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news in one place.

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France 24

Italy cracks down on asylum, boosting work visas instead

Italy's far-right government, led by PM Giorgia Meloni, recently made a change to its immigration policy. This involves a crackdown on residence permits for asylum seekers and an increase in deportation centres, in order to discourage illegal immigration. But the government also wants to increase the number of work visas…

Asharq Al-Awsat

IMF Raises Asia’s Economic Forecast on China Recovery, Warns of Risks

The International Monetary Fund (IMF) raised Asia's economic forecast on Tuesday as China's recovery underpinned growth, but warned of risks from persistent inflation and global market volatility driven by Western banking-sector woes. The reopening of China's economy will be pivotal for the region with the spillover to Asia seen focused…

Multichannel News

Writers Guild Calls for Strike, Says Producers Are Trying To Force Scribes Into ‘Gig Economy’

Network late-night shows shut down first with the rest of film, TV and streaming production stopping Tuesday

Chicago Sun-Times

Hollywood writers, slamming ‘gig economy,’ vote to go on strike

The Writers Guild of America said its 11,500 unionized screenwriters will walk the picket line Tuesday. Writers say that in the streaming era they are not being paid enough.

The Independent UK

Hollywood writers, slamming 'gig economy,' to go on strike

Television and movie writers declared that they will launch an industrywide strike for the first time in 15 years, as Hollywood girded for a walkout with potentially widespread ramifications in a fight over fair pay in the streaming era

Bangkok Post

Transition finance to drive a greener future

The choking smog that has smothered Thailand this year underscores the growing urgency for tackling climate change in Southeast Asia as the region sets out to achieve a low-carbon, climate-resilient economy.

Bangkok Post

TDRI questions party stimulus plans

The Thailand Development Research Institute (TDRI) has warned major political parties that their main election campaign projects might not be necessary as a stimulus since the economy is not in recession.

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