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The Latest Breaking News from Economy

German coalition government ends dispute after marathon negotiations

Germany's ruling coalition government on Tuesday presented the results of 30-hour negotiations aimed at resolving a spat that has threatened to delay major policy initiatives in Europe's top economy.

Reuters

Thai cement production needs to reduce its carbon emissions

Thailand is among the largest producers of cement in Asia, manufacturing nearly 33 million tonnes per year. While this is good news for the economy, it's bad news for the climate as the industry is a huge emitter of greenhouse gases.

Bangkok Post

Goldman Sachs says the banking meltdown is a 'headwind' for the economy but not a recession-causing 'hurricane'

Goldman's chief economist believes tighter lending standards after SVB's collapse will help fight inflation instead of causing a "hurricane that pushes the economy into recession."

Fortune

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House fails to overturn veto of ESG legislation

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

What US Treasury Futures are Telling Us

A look at the various US Treasury futures tells us a lot about what to expect with interest rates, the overall economy, and where the US is in a normal economic cycle.

Barchart

Rishi Sunak Commons grilling LIVE: Rwanda flights might not take off by summer, PM tells Liaison Committee

Rishi Sunak has suggested that flights to Rwanda carrying illegal migrants might not take off by this summer.

Evening Standard

Silicon Valley Bank collapse was fastest since Barings in 1995, Bank of England governor says

Andrew Bailey says economy is in ‘period of very heightened tension and alertness’

The Independent UK

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Tunisia Cuts Off Water Supply at Night amid Severe Drought

Tunisian authorities have started cutting off drinking water at night in areas of the capital and other cities, residents said, in what appears to be a bid to reduce consumption amid a severe drought. Cutting off water without prior announcement, in areas of the capital Tunis, Hammamet, Sousse, Monastir and…

Asharq Al-Awsat

In North Carolina, Biden to compare economic plan with GOP's

President Joe Biden will visit an expanding North Carolina semiconductor manufacturer as he launches an extended effort to spotlight the impact legislation passed earlier in his administration is having on the U.S. economy

The Independent UK

In business we trust? It's all relative

Layoffs, bank failures, and a weak economy: Will business lose its (moderately) exalted position of trust?

Fortune

Commentary: How Big Tech’s predatory culture fuels failures like Silicon Valley Bank

After 20 years of what appeared to be unstoppable growth, America’s tech industry has spent the past year underperforming the rest of the economy. Product failures in new industries like virtual reality and cryptocurrency, layoffs across the board, lower stock prices, and the failure of Silicon Valley Bank create a…

Los Angeles Times

Tough Gig report reveals dire state of gig economy

Almost half of all Australian gig workers make less than the minimum wage even though most work long hours and during peak times.

The New Daily

Can Australia’s banks withstand the contagion stalking the global finance sector?

The seeds of a shock have been planted. The question is whether that will grow into a threat to bank stability and the broader economy

The Guardian - AU

ACTU head backs four-day working week

The Australian Council of Trade Unions (ACTU) is backing a trial for a four-day work week with full pay, declaring the policy a winner for employees and the economy.

The New Daily

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Al Jazeera

China Premier Li tells Apple’s Tim Cook country to open further

Beijing is courting foreign executives at China Development Forum as it tries to revive economy after ‘zero COVID.’

The Guardian - AU

Uber drivers criticise rideshare giant’s ‘misleading’ campaign spruiking flexibility for Australian workers

With potential workplace changes coming to the gig economy, workers argue they are already treated as employees with none of the benefits

The Independent UK

Opportunity for prosperous offshore energy sector ‘hangs in balance’ – report

Offshore Energies UK has published its Business Outlook report.

Bangkok Post

Maserati upbeat on sales potential in Asia-Pacific

Demand for luxury cars in Thailand and Asia-Pacific remains robust despite a sluggish global economy, says Italian luxury car manufacturer Maserati.

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Bangkok Post

BBL outstrips credit card spending target for 2 months

Bangkok Bank (BBL) has surpassed its credit card spending target for the first two months of 2023, driven by the recovery of Thailand's economy and tourism sector.

The Independent UK

Labour will ‘retool’ Foreign Office to make it fit for future, says Lammy

The shadow foreign secretary says Britain’s diplomats lack industrial and economic expertise needed to deal with modern global economy.

Fortune

Global economy is skidding towards a 'lost decade,' World Bank warns

The past 30 years of economic growth and development could be reversed this decade if governments don't act.

Reuters

German governing coalition fails to settle disputes after 20 hours of talks

The three parties in Germany's governing coalition on Monday ended 20 hours of talks without resolving disputes over spending and other issues although Chancellor Olaf Scholz said they achieved "very good progress."

Fortune

A recession in 2023 is now inevitable. Layoffs in tech and finance will spread to other sectors

Don't let a seemingly strong jobs market fool you–the data today is reminiscent of the early days of past recessions, according to Murray Sabrin.

Fortune

Legendary investor Mark Mobius expects more interest rate hikes but thinks the economy will do well anyway

He thinks that the U.S. money supply and government-led infrastructure spending will keep the economy robust.

Fortune

Bank failures have 'increased' threats to global financial stability, IMF says

Global economic growth was expected to slow this year, but this month's banking crises have raised the risk of even bigger problems.

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