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The Latest Breaking News from Economy

Editorial: Here’s how a new immigration law works against Florida’s interests

Florida’s newest crackdown on illegal migrants doesn’t take effect for weeks, but already the legislation is uprooting families and unsettling key pillars of Florida’s economy. It’s another reminder of how poorly we treat the powerless who take some of the most difficult jobs, and of the price that communities, employers…

Tribune News Service

Bill Gates Reportedly Snags Rare Meeting With Xi Jinping Amid China Tour: ‘Need To Unlock That Kind Of Progress’

Corporate chiefs have been making a beeline for China ever since the country reopened its economy late last year following the strict COVID-19 lockdowns

Zenger

UK lagging behind in global race to decarbonise, says TUC leader

Paul Nowak says workers need a seat at the table to ensure a quick and fair transition to a net zero economy

The Guardian - UK

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Data | Less than half of urban consumers pessimistic about the economy

When asked about their current perception of the economy, 48.9% said it has worsened

The Hindu

Economy strong despite weak exports, baht supportive - Finance Minister

Thailand's economy remains strong, despite weaker shipments, though the weaker baht currency will be supportive of exports this year, Finance Minister Arkhom Termpittayapaisith said on Friday.

Bangkok Post

City council spent more on Bristol Beacon than building homes or schools last year, accounts show

Bristol City Council has written off £93million so far on the concert hall refurbishment

Bristol Post

Economy perks added on long Qantas flights

Qantas economy passengers flying 22 hours direct to London and New York will have extra leg room and access to a wellness zone so they can move around on board.

The New Daily

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US says price caps on Russia's oil are cutting revenue nearly in half and weakening its economy

When the Group of Seven nations, the European Union and Australia last year announced a plan to cap the price of Russian oil, U.S. officials said it would deliver a most effective blow to Russia’s economy, undermining its greatest revenue source

The Independent UK

There won’t be a true recession anytime soon—but a ‘growth recession’ is still on the menu next year, BofA warns

Bank of America's chief economist Michael Gapen revised his recession forecast again this week, citing strength in the labor market—but he says a "growth recession" is still coming in 2024.

Fortune

Money, Money, Money: the singers lifting economies with their vocals

From Beyoncé to BTS, the star power of popular music artists is helping to revive pandemic-hit countries

The Guardian - UK

Youngsters reduced to ‘numbers on spreadsheet’, says childcare leader

The leader of the Early Years Alliance has accused the Government of prioritising the economy over quality care for children.

The Independent UK

There has to be a better way to measure a recession

Did NZ really dip into recession this year? Not until unemployment starts to rise ... that's the measure that affects real people. Jonathan Milne reports.

Newsroom.co.nz

Nigeria lets market set currency exchange rate to stabilize economy, woo investors

Nigeria’s central bank has ended its distorted foreign exchange rate, a move the new government in Africa's biggest economy hopes will help woo investors and stabilize the local currency

The Independent UK

Strong job numbers could mean more rate rises for Australia. Here’s why a recession isn’t a certainty

Reserve Bank appears determined to raise interest rates at least once more, even if Australia’s economy is slowing

The Guardian - AU

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Barchart

What Options Volume for Sprouts Farmers Market (SFM) Might Be Saying About the Economy

Although Sprouts Farmers Market makes plenty of sense in this challenging economy, recent unusual options volume presents a nuanced angle for SFM stock.

The Hindu

Women can benefit in a big way from care services sector, says Smriti Irani

The G20 Summit should focus on developing a care economy and eliminate bias against women in technology and related sectors, said Smriti Irani, Union Minister for Women and Child Development

The New Daily

Immigration key to Australia avoiding a recession, unlike NZ

If Australia is lurching towards a recession like the one neighbouring New Zealand is now suffering, there were few signs of it on Thursday.

Edinburgh Live

Edinburgh holiday flats 'contribute less to the economy than residential homes'

A report to the council found that Short Term Lets were not as valuable to the city as residential homes.

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Fortune

Deutsche Bank puts U.S. recession chances near 100%—avoiding hard landing “unprecedented”

Output is expected to contract as early as October and continue shrinking during the all-important election year, making it the worst performing economy among G7 nations in 2024.

Axios

The Fed grows confident its Goldilocks economy might come true

The U.S. may not have to sacrifice the economic gains achieved in the pandemic recovery.

Evening Standard

New Zealand falls into recession as high interest rates bite

Gross domestic product fell by 0.1% in the March quarter, following a revised 0.7% fall in the previous quarter, Statistics New Zealand said

The Independent UK

The Fed has paused. How long will Europe's central bank keep raising rates in a shaky economy?

The U_S_ Federal Reserve has hit “pause.”

Tribune News Service

Commentary: By the treasury secretary’s own definition, we’re back in recession

Last month, the Department of Commerce released troubling data on the anemic economy, showing that gross domestic income (GDI) shrank in the previous six months. That’s no surprise to half of Americans who believe we’re currently in a recession, but the data refute President Joe Biden’s claim that the economy…

The Guardian - UK

European Central Bank raises interest rates to fight inflation; Nationwide to lift fixed mortgage rates – as it happened

UK mortgage holders face worst squeeze since 1990s crash, while Europe’s central bank hikes borrowing costs to battle inflation

The Independent UK

New Zealand's economy dips into recession as higher interest rates bite

New figures show that New Zealand’s economy has dipped into recession as higher interest rates take their toll

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