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The Latest Breaking News from Economy

Future of Finance: Circle’s Allaire says U.S. lawmakers may be ‘late to the party’ with crypto, but it won’t hold back the world’s largest economy

“When the U.S. does lay down its rules,” added the Circle CEO, “it's going to be a highly competitive market.”

Fortune

Stock market today: Asian shares extend losses after China reports lower growth than expected

Shares are mostly lower in Asia as optimism over a Wall Street rally is countered by worries about the Chinese economy

The Independent UK

Economy could slow more than the Reserve Bank expected, latest RBA minutes reveal

Bank left cash rate unchanged in July and meeting minutes state squeeze on households means consumption could slow ‘more sharply than implied by the current forecasts’

The Guardian - AU

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Peter Dutton ‘the alternative PM from the alt-right’ heading Coalition’s ‘cabal of climate denial’, Chris Bowen claims

Labor’s energy minister to unveil decarbonisation plans for six areas of the economy in Sydney speech

The Guardian - AU

High drug prices in Canada are just one side of a bad equation

The Canadian health-care system is under pressure as service levels decline while costs escalate. Drugs are one of our largest health-care expenditures. A federal agency, the Patented Medicine Prices Review Board (PMPRB), is supposed to control drug prices for Canadians.

The Conversation

Will Weak Growth Prompt China to Boost Stimulus?

With China’s economy growing less than expected in Q2, calls have intensified for the government to expand stimulus measures to revive growth. Several investment banks cut their growth targets for China this year after today’s disappointing Q2 GDP report. The markets will look to a meeting later this month when...

Barchart

Why the pound has shot up while UK economy is struggling – expert Q&A

When Liz Truss and Kwasi Kwarteng’s tax-cutting mini-budget triggered a UK debt crisis in autumn 2022, the pound plummeted to almost parity with the US dollar. In 2023 the UK has endured weak growth, falling productivity and high inflation, yet the pound has been the strongest performing currency among the…

The Conversation

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Germany's central bank says the economy apparently returned to growth in the 2nd quarter

Germany's central bank says the country's economy appears to have returned to slight growth in the April-June period after shrinking for two consecutive quarters

The Independent UK

China’s Q2 GDP Growth Misses Expectations, Raises Concerns Of Slow Recovery

Chinese economy expands 6.3% YoY in Q2, falling short of economists' estimates, prompting calls for stimulus measures.

Zenger

Turkey's Erdogan heads to Gulf seeking funds for ailing economy

Turkish President Recep Tayyip Erdogan is beginning a three-stop tour of Gulf states to raise trade and investment for Turkey’s floundering economy

The Independent UK

CEOs are ready to let go of their recession fears

A new poll from Fortune reports that just 38% of CEOs are pessimistic about the global economy, down from 76% in October.

Fortune

A much-feared emerging markets crisis didn’t happen. Is the global economy off the hook?

A crisis of global systemic relevance would require a confluence of factors, write BCG's Philipp Carlsson-Szlezak and Paul Swartz.

Fortune

Stock market today: Asian shares mostly lower after China reports weaker than expected growth in 2Q

Asian shares are mostly lower after China reported weaker growth than forecast in the last quarter

The Independent UK

China GDP growth falls short of expectations as sinking property prices hit economy

Data shows the economy grew just 0.8% in the June quarter, down from 2.2% in the first three months of 2023

The Guardian - AU

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The Independent UK

China's economy grew 6.3% in the second quarter, lower than expected as momentum slows

China’s economy grew 6.3% in the second quarter after near-stagnant growth a year earlier

The Hindu

Air India finishes repairs on 40% of seats as part of $400 million refit

Air India revamps 40% seats, adds Wi-Fi, Premium Economy cabin; Tata Technologies helps with 3-D printing of spares. Despite efforts, passengers still complain of broken furniture.

The Guardian - UK

Kemi Badenoch signs treaty for UK to join Indo-Pacific trade bloc

Critics note government estimates that suggest membership of CPTPP will add just £1.8bn a year to UK economy after 10 years

The Guardian - UK

Economic ‘Bazball’ will have replaced UK’s safety-first approach to inflation and growth by 2025

Rishi Sunak used just-go-for-it route in Covid crisis but Treasury and Bank of England now play with straightest of bats

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The Guardian - UK

‘Borderline racist’: critics slam Rishi Sunak’s plan to fund pay rise with higher migrant fees

Charities, unions and politicians say ‘divisive’ policy will damage UK economy by squeezing workers from overseas

The National (Scotland)

The Scottish Government says we’re moving to a wellbeing economy – but when?

EARLIER this week more than 200 charities, unions, academics and campaigners signed an open letter calling on Humza Yousaf to follow through with…

Bangkok Post

Ensure fair wealth distribution

Up until the pandemic, the economy was a reliable workhorse that delivered growth.

The Times of India

AI & manufacturing can turn Maharashtra into $ 1 trillion economy by 2028: EAC Report

MUMBAI: Within six months of setting up an economic advisory council (EAC) led by Tata Sons chairman N Chandrasekaran and 20 other industry giants, government, social and economic experts, to suggest measures to make Maharashtra a $1 trillion economy by 2028, it recommends a strong focus on making state an…

The Week

Bidenomics: changing the way America does business

“President Biden might not seem like a revolutionary,” said E.J. Dionne Jr in The Washington Post, but he’s presiding over “a fundamental change” in America’s approach to economics.

The Independent UK

Bargain-hunting Uruguayans are flocking to Argentina as its peso slides. Back home, shops struggle

With its economy faltering, Argentina’s peso has plunged against the U.S. dollar and its annual inflation is nearly 116%, one of the highest rates in the world

The National (Scotland)

Neil Gray: Wellbeing economy makes 'sound business sense'

NEIL Gray has said a implementing a wellbeing economy makes “sound business sense” after hundreds of charities and organisations called for…

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