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The Latest Breaking News from Economy

Fairtrade: study finds premium label does not always benefit workers on South African wine farms

Wine was first produced in South Africa as far back as the mid-1600s by Dutch colonisers who sold it to passing ships. The industry developed further during the colonial and apartheid eras and wine became an important part of the South African economy.

The Conversation

‘Dr. Doom’ Nouriel Roubini warns new cold war with China will 'balkanize' global economy

Fracturing global supply chains to mitigate increasing security risks will push up prices as a Cold War between the U.S. and China gets 'colder by the day'.

Fortune

OPINION - The Standard View: Jeremy Hunt’s ‘not-so-bad’ economy offers little comfort

The British economy cannot get going. Growth flatlined in February, the latest figures from the Office for National Statistics show, as a rise in construction was offset by falls in services and production.

Evening Standard

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Uber Eats and Coles supermarkets to offer deliveries in Australia under new deal

Transport Workers Union praised the arrangement as a ‘powerful opportunity’ to improve workers’ conditions and entitlements

The Guardian - AU

Jordan Stuart of Federated Hermes: Tips to navigate volatility

Jordan Stuart, a client portfolio manager at global asset manager Federated Hermes, has some tips to help investors navigate the current volatility.

Fortune

S&P Futures Tick Higher Ahead of Key U.S. PPI Data

June S&P 500 futures (ESM23) are trending up +0.12% this morning after three major U.S. benchmark indices ended the regular session in the red as market participants weighed recession risk following the minutes of the Fed’s March policy meeting while also awaiting crucial U.S. PPI data.

Barchart

Commentary: Administrative fix for statelessness would help the economy

Until recently I managed eight gas stations in the Washington, D.C., area, seven days a week. I'm a classic example of this country's reliance on labor by people from elsewhere. For more than 20 years I worked 13-hour days and would cover shifts whenever somebody called in sick. Double shifts…

Tribune News Service

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EU adds Russia's Wagner mercenary group to sanctions list

The European Union on Thursday added Russia's Wagner mercenary group to its sanctions list for "actively participating in the Russian war of aggression against Ukraine" as US authorities made an arrest in connection with the leak of confidential documents. Follow our blog to see how the day's events unfolded. All…

France 24

UK economy flatlined in February amid impact of strikes

Wave of public sector strikes and weak industrial output take toll, official figures show

The Guardian - UK

Global economy not on the cusp of another 2008 - Bank of England governor

The UK’s economy showed no growth in February, narrowly avoiding a recession despite decades-high inflation

Insider UK

UK’s economy flatlined in February as teachers’ strikes drag on growth

Analysts expected GDP to grow by 0.1 per cent in February

The Independent UK

Strikes drag UK economic growth to a standstill; mortgage defaults rising as households struggle – as it happened

Latest GDP report shows that civil service and teachers’ strikes held back service sector growth, leading to no growth in February

The Guardian - UK

Australia’s resources minister heaps warm praise on gas as industry PR spree masks doubts about future

Madeleine King says gas can help decarbonise the economy but not even big users of the fossil fuel are convinced

The Guardian - AU

Unemployment rate sticks at 3.5 per cent

New labour market data shows the jobless rate holding at 3.5 per cent, with 53,000 jobs added to the economy.

The New Daily

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ABC News

Australia must navigate 'choppy waters' amid gloomy global economic outlook, says Jim Chalmers

Jim Chalmers says his budget will be built on the expectation that the economy will "slow considerably" but Australia is "better placed than most to deal with this global uncertainty".

AAP

New hydrogen pumps hundreds of billions into economy

Australia is poised to become a green energy superpower, hosting about 40 per cent of globally announced new hydrogen projects, worth up to $300 billion.

The Conversation

'Build back better' requires a framework that focuses on the full life of a house – from materials to its end of life

In the wake of Cyclone Gabrielle, New Zealand is again talking about “building back better”. But how do we build back better when we don’t necessarily understand what “better” means? Or how to achieve this across a country with significantly different risk profiles?

The New Daily

Jobless rate to stay low despite looming economic woes

Workers are still in short supply and the labour market is unlikely to reveal signs of loosening as the effects of inflation work through the economy.

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Bangkok Post

BoT to aid new government on economic policies

The Bank of Thailand (BoT) will work with the new government on coordinating fiscal and monetary policies to boost the economy after the Finance Ministry and central bank reduced economic stimulus measures amid signs of recovery.

ABC News

Why Tunisia's president is cracking down on political opponents, singling out black Africans and undocumented migrants

Tunisia's revolution was the spark that ignited the Arab Spring. But 10 years on, its economy is failing and observers say an increasingly authoritarian government is using black Africans as scapegoats, inciting a wave of racially motivated violence and rhetoric.

The Japan News/Yomiuri

Economic minister eager to see ChatGPT used for Diet replies

Economy, Trade and Industry Minister Yasutoshi Nishimura said on Tuesday ChatGPT could be used for the preparation of answers to Diet questions, if concerns are resolved. His remark will likely arouse controversy, given the number of issues surrounding this conversational AI model, such as the possibility of copyright infringement.

Motor1

EPA Report Shows Record-High Horsepower And Fuel Economy For New Vehicles

Real-world carbon dioxide emissions are also at record lows as the EPA eyes further reductions going forward.

Axios

Federal Reserve staff projects "mild recession" after banking sector turmoil

Minutes from the Fed's last policy meeting offer more details on how officials weighed risks to the economy in the wake of the SVB collapse.

The Independent UK

Bank turmoil led Fed officials to forecast fewer rate hikes

Turmoil in the banking system after two major banks collapsed led many Federal Reserve officials to envision fewer rate increases this year out of concern that banks will reduce their lending and weaken the economy

The Guardian - UK

The Guardian view on the world economy: another bleak era beckons

Editorial: The 2010s were a wasted decade for economies and the environment. The 20s have all the makings of a second

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