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The Latest Breaking News from Economy

Karnataka CM Siddaramaiah slams Centre for price rise, blames previous BJP govt in state for 'deteriorating' economy

BENGALURU: Karnataka Chief Minister Siddaramaiah on Friday slammed the Centre for "failing to control steep price rise", and hit out at the previous BJP government for "deteriorating" the state's economy.

The Times of India

“Not asking Punjab for anything, in fact they do not have anything to give,” says Himachal Pradesh CM Sukhvinder Singh Sukhu

In an exclusive interview with The Hindu, Himachal Pradesh CM Sukhvinder Singh Sukhu says his government had inherited a legacy debt of over ₹75,000 crore from the previous BJP regime and, to revive the economy, is focusing on harnessing hydro, hydrogen, and solar energy resources, besides adhering to fiscal discipline.

The Hindu

Michael Hiltzik: Bidenomics has been a boon for working class voters. Why don't they give him credit?

No one doubts that the fiscal buzzword of the moment is "Bidenomics." The question at hand is whether President Joe Biden will be able to wear it proudly as a badge, or his Republican adversaries will hang it around his neck like an albatross.

Los Angeles Times

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India is not 'extractive economy' and is not pursuing 'narrow economic activities' in Africa: Jaishankar

External Affairs Minister S. Jaishankar, on his visit to Tanzania, said that unlike some other countries, India is not “an extractive economy” and it was not pursuing “narrow economic activities” in the resource-rich African continent

The Hindu

Stock market today: Asian shares fall as strong US data dash hopes for an end to rate hikes

Asian shares have slipped after another decline on Wall Street, where hopes for an end to interest rate hikes have been shaken by strong economic data

The Independent UK

Bank of England warned 7 per cent interest rates would send shock wave through housing market

A leading economist says there is ‘no need to panic’ as Britain is ‘not in an 07-08 scenario’

The Independent UK

US jobs report likely to show a solid gain, potentially complicating Fed's drive to cool inflation

Another solid month of hiring in the United States is expected to be reported Friday, an outcome that would suggest no recession is in sight yet could make it harder for the Federal Reserve to succeed in its drive to cool the economy and curb high inflation

The Independent UK

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The strategist who called a recession after the regional banking crisis says it already happened and nobody noticed

The catch is it's global. The heated debate about a U.S. recession is a moot point. The much bigger story is that a typical world recession has likely already started."

Fortune

Kamala Harris touts the small business side of ‘Bidenomics’ at Santa Monica restaurant

LOS ANGELES — As President Joe Biden leans into pitching voters on economic progress made under his watch ahead of the 2024 election, Vice President Kamala Harris is on a mission to highlight how small businesses have fared under “Bidenomics.”

Los Angeles Times

NZ adrift on prioritising ocean health

Should our fishing industry and government get serious about transformation by developing ecosystem management disciplines and targets, they could yet catch up with the global leaders

Newsroom.co.nz

3 China Stocks Smart Money Is Following

While worldwide counterparts saw weaker growth due to inflation and rising interest rates, China’s GDP soared in the first quarter of 2023. With the nation’s upward momentum expected to persist, it could be wise to load up on robust China stocks X Financial (XYF), China Automotive (CAAS), and Sunlands Technology…

StockNews.com

Caregiving role a major reason behind career break among women, finds survey

A survey on unemployed women in Kerala conducted by the the Kerala Knowledge Economy Mission found that women’s role as caregivers in the family was the main reason behind their career breaks.

The Hindu

US rollback of student loan forgiveness hits borrowers, economy

Student loan forgiveness meant borrowers had money to spend on a new home, start a new business or even start a family.

Al Jazeera

Keir Starmer says he is as ‘laser-focused on poverty’ as Tony Blair was in 1997

Labour leader’s comments come as he sets out party’s plans to improve education and opportunity

The Guardian - UK

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The Independent UK

Shell CEO calls it 'irresponsible' to cut oil production now

The head of global energy giant Shell says it would be “irresponsible” to cut oil and gas production at a time when the world economy is still dependent on fossil fuels

The Hindu

G20 meet in Bengaluru: ‘Space technology has entered every household in one way or the other’

Heads of national space agencies from 18 of the G20 countries and nine of the 11 invited members are participating in the two-day meet whose theme is ‘Towards a New Space ERA (Economy, Responsibility, Alliance)’.

Tribune News Service

Commentary: Pay no attention to the economy behind the curtain

Anyone following the economic news coming from the Biden administration lately probably feels like Dorothy meeting the Wizard of Oz. Whether it’s data being revised from good to bad, the manipulation of statistics or indefensible exaggerations, the White House’s economic record is less impressive than it first appears. Here are…

Liverpool Echo

Huge job fair coming to ACC with hundreds of roles available

It comes after hundreds of people were offered jobs on the day at an event earlier this year

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The Guardian - UK

Japanese knotweed and other invasive species may be costing UK £4bn a year

Ash dieback most damaging, while cost of tackling alien species has more than doubled since 2010, says study

The Independent UK

Bank of England may have to hike interest rates to 7% to curb inflation, economists warn

Fears heighten for UK economy and household budgets as expert says ‘hard landing increasingly likely’

Fortune

Wall Street buys into Bidenomics, with the top economists at Goldman and other banks saying we could really dodge a recession

The White House is taking a victory lap, and economists at Goldman Sachs and JPMorgan are offering rosier economic forecasts.

The Hindu

Choose a new palette for India’s creative economy

There is now growing recognition of the economic importance of the arts sector

Fortune

Nobel laureate Paul Krugman dismisses Elon Musk’s economic predictions, calling them conspiracy theories by a ‘recession truther’

The Princeton economist and New York Times columnist said tech billionaires are “often, in practice, easy marks for grifters and con men.”

Radio France Internationale

French government promises tourists' safety is 'guaranteed' despite riots

France's Minister for Finance, Bruno Le Maire, has been leading a PR drive in the US and UK seeking to reassure and attract foreigners back to France in the wake of over a week of rioting that has caused international concern, as measures are put in place to get the…

Daily Record

Scottish Government approves outline business case for new University Hospital Monklands

The new hospital is a hugely significant capital project with massive benefits for healthcare, the economy and local community.

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