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The Latest Breaking News from Economy

Pound on worst run since March 2020 with UK economy ‘close to stalling’; some Gatwick strikes suspended – as it happened

UK private sector growth slowed to six-month low this month, while DHL workers have cancelled Gatwick strikes and other strikes are suspended

The Guardian - UK

China’s sudden economic slowdown is worrying. But it doesn’t have to be all bad news for Australia

The great Chinese construction boom has lasted longer than anyone thought possible. But all things must pass

The Guardian - AU

ACT economy ranked second worst in the country

ACT leads nation on retail spending

The Canberra Times

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UK bill waters down protections against ‘robo-firing’ in gig economy, say experts

Law would weaken right to force app-based firms to explain automated decisions, says research group

The Guardian - UK

Summer of discontent: will US strikes spell trouble for ‘union guy’ Biden?

Widespread industrial action could cloud president’s ‘Bidenomics’ pitch to voters but some see a chance to shine as a champion of working people

The Guardian - US

China’s race for growth is fading. So too is its dream of middle-class security

Xi Jinping’s 31-point strategy may not be enough to halt the economy’s decline

The Guardian - UK

India has emerged a start-up hub, says Union Minister L. Murugan

India has become a start-up hub due to the supportive ecosystem for new ventures. Under the nine-year rule of the BJP Government, the number of start-ups has increased from 500 to one lakh. The Start-Up India initiative has enabled young entrepreneurs to pursue their dreams and created direct and indirect…

The Hindu

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China’s ‘sluggish’ economy: squeezing the middle classes

Here we go again, said Xin Ping on Xinhuanet (Beijing). China recently released economic data indicating that its post-Covid recovery has been slightly weaker than hoped in 2023 – so, as ever, foreign commentators are now bleating about China’s “sluggish” economy and predicting its imminent collapse.

The Week

UK budget deficit falls in June but experts say tax cuts are unlikely

Jeremy Hunt says government needs to keep fiscal discipline as it attempts to halve inflation

The Guardian - UK

China’s ‘breathtaking’ infiltration of UK economy: an existential threat?

China is engaged in a “whole-of-state” assault on the UK – and the Government’s response to this “onslaught” has been “completely inadequate”.

The Week

London Underground strikes called off; UK government borrowing falls – as it happened

Planned tube strikes next week called off after talks breakthrough; government borrows £18.5bn in June, third-highest June borrowing on record

The Guardian - UK

Cheap shots aside, Chalmers has work to do to improve his new 'wellbeing' framework

The Albanese government’s new “Measuring What Matters” framework for a wellbeing economy has been criticised for relying on out-of-date data in several crucial measures. But that’s an easy and somewhat cheap criticism to make.

The Conversation

President Biden talked ‘Bidenomics’ at the Philly Shipyard. Here’s what it means.

President Biden has a new reelection campaign catchphrase: Bidenomics.

The Philadelphia Inquirer

Consumer confidence drops in July as ‘reality bites’

GfK’s Consumer Confidence Index fell six points in July to minus 30 amid concerns for personal finances and the wider UK economy.

The Independent UK

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The Conversation

Today's Measuring What Matters statement is just a first step – now we have to turn goals into action

Today’s release of the Commonwealth Treasury’s Measuring What Matters statement is an important step towards better government decision-making and a shared vision for the Australia we want, but it’s only the first step.

Orlando Sentinel

Floridians to DeSantis: Come home and fix housing crisis, other woes

TALLAHASSEE — While Gov. Ron DeSantis barnstorms the country campaigning for president, a growing chorus of Floridians are urging him to come home to deal with the state’s soaring housing costs and other problems.

The Hindu

Economy meal counters for passengers in general sitting coaches

SWR, in association with IRCTC, has set up special counters on platforms to enable passengers of general sitting coaches to buy economy meals, snacks/combo meals and affordable packaged drinking water. These counters are located near general sitting coaches and are being supplied from IRCTC kitchen units. Two types of meals…

The Guardian - UK

Bank of England risks recession with interest rate rises, Mervyn King says

Warning from ex-governor adds to concerns about economy with Bank tipped to raise rate above 5%

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Fortune

The economy is so unpredictable even Elon Musk is stumped

Musk says he still expects to deliver 1.8 million Tesla vehicles to customers this year, despite the persistent macro uncertainty.

The Guardian - UK

I thought the government’s plan to protect Britain from extreme heat would be bad. It’s worse than that

Politicians seem to have no idea of the action required if we want to keep a functioning society and economy, says academic Bill McGuire

Evening Standard

OPINION - We must free London from its growth-killing local councils

Britain, it’s painfully obvious, is getting poorer. Growth is failing. Incomes are stagnant. And with that lives, opportunities and ambitions. But what few people realise is that growth is failing right here in London. The city is falling behind its rivals with lagging productivity. This isn’t just the Brexit-hit to…

PC Gamer

Starfield's economy is already in shambles—a spaceworthy ship can go for as little as 25 sandwiches, 48 steaks, or ten plates of bugs

Maybe the sandwich pirate was onto something, after all.

Zenger

Tesla CEO Musk Uncertain About Global Economy As Interest Rates Threaten Car Affordability.

Tesla warns of possible further price cuts on vehicles amid rising interest rates.

The Independent UK

Biden pushes a strong role for unions in tech jobs, even as potential strikes are on the horizon

President Joe Biden is courting unions as a cornerstone of the United States' economic future with a speech at a Philadelphia shipyard

The Hindu

Western countries are making sensible bet on India, ‘a rising great power’, says Martin Wolf

India is indeed likely to be a rising “great power” and its economy will have the size similar to that of the U.S. by 2050, according to noted economics commentator Martin Wolf who has also highlighted that Western leaders are making a sensible bet on the country.

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