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The Latest Breaking News from Economy

People divided over double decker plane seats set to 'make economy better for all'

A new double decker economy plane cabin gives an idea of what economy seats of the future could look like - but not everybody is convinced by the design

Daily Mirror

Billionaire investor Ray Dalio says U.S. is facing a big-cycle debt crisis

The Bridgewater Associates founder said the American economy was facing a “risky situation.”

Fortune

Mohammed Siraj completes 50 wickets in Test cricket

NEW DELHI: Paceman Mohammed Siraj achieved the milestone of 50 wickets in Test cricket on Thursday during India's ICC World Test Championship (WTC) final against Australia at The Oval in London.

The Times of India

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Kenya’s opposition wants to split up the country – but secession calls seldom succeed

Kenya’s opposition politicians recently called for secession – which is the withdrawal of territory and sovereignty from part of an existing state to create a new state. Led by Raila Odinga, who received 48.8% of the presidential vote in Kenya’s 2022 election, the politicians want the country split into two…

The Conversation

Eurozone entered mildest possible recession over winter, revised figures show

GDP dipped by 0.1% in back-to-back quarters, which is the shallowest recession possible

Evening Standard

US applications for jobless benefits highest since October 2021

The number of Americans applying for unemployment benefits last week rose to its highest level since October 2021, but the labor market remains one of the healthiest parts of the U.S. economy

The Independent UK

A handful of companies have the power to save the oceans. Here’s why we’re urging them to reinvent our land-based food systems

In Europe, the top 10 food brands control 40% of what people eat. In the U.S., 4 companies control 85% of the meat market. Another 4 dominate world grains.

Fortune

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Eurozone sinks into recession as cost of living crisis takes toll

GDP shrank 0.1% in first quarter of 2023 and final three months of 2022 after revisions to earlier estimates

The Guardian - UK

McKinsey Global Institute sees 4 possible scenarios for the economy by 2030. Only one leads to long-term growth

The economic, banking, and investment landscape of the next decade is likely to look materially different from the recent past.

Fortune

Payrolls, Prices, Productivity and Profits Hold the Answer to the Puzzling US Economy

A look at the four variables that will tell us whether the country dodges a recession or becomes mired in stagflation.

Businessweek

Europe's economy has shrunk. For households that are hurting, it's just numbers

The European economy has contracted slightly at the end of last year and beginning of 2023

The Independent UK

The planet’s economist: has Kate Raworth found a model for sustainable living?

The long read: Her hit book Doughnut Economics laid out a path to a greener, more equal society. But can she turn her ideas into meaningful change?

The Guardian - UK

More mortgage pain for Irish householders as ECB plots further rate increases

The Central Bank has also warned that the risks facing the Irish financial system have increased as inflation is weighing heavily on the global economy.

Irish Mirror

Alarm over weather-related threats

Drought, floods and other extreme weather exacerbated by climate change could cause damage worth 36 billion baht to the Thai economy this year, says the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB).

Bangkok Post

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Bangkok Post

Authorities to drive ahead with oil plan

Energy authorities are continuing their push for the National Oil Plan, aiming to generate 170 billion baht for the Thai economy through a range of projects, including further development of cleaner energy, says the Department of Energy Business.

Fortune

Billionaire investor Stanley Druckenmiller warns there are 'more shoes to drop'—Silicon Valley Bank was ‘probably the tip of the iceberg’

Billionaire investors are worried. Stanley Druckenmiller sees a "hard landing" on the way and bond king Jeffrey Gundlach is warning that economic indicators are now "full-on recessionary."

The Conversation

How Russia is shifting to a war economy in the face of international sanctions

As Russia’s progress in Ukraine has stalled, with enormous losses in material and people, the frustrated head of the Wagner mercenary force Yevgeny Prigozhin has called for Russia to shift to a total war economy:

The Independent UK

Scotland’s deposit return scheme delayed for fourth time

Scottish circular economy minister Lorna Slater said it will not now begin until October 2025 ‘at the earliest’.

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Belfast Live

Connswater Community Greenway investment boosts local economy. study shows

For every £1 spent on the Connswater Greenway - at least £1.34 generated for local economy

The Guardian - AU

The economy is slowing yet the RBA seems desperate to ensure this is as good as it gets for a long time

Record interest rate rises are intended to stop households from spending, even though the economy is already in a precarious position

Barchart

Valvoline (VVV) Could Be a Cynical Trade as Employers Crack the Whip

With the return-to-work debate taking on a more aggressive tone, Valvoline could be a beneficiary as the office-adjacent economy comes back to life.

The Independent UK

Scottish deposit return scheme delayed to October 2025 ‘at the earliest’

Scottish circular economy minister Lorna Slater blamed the UK Government.

The Guardian - UK

The news from a Mozambique landfill site – Mário Macilau’s best photograph

‘The men who roam this dump play an important role in the economy, but they are marginalised. I was warned they were “uncivilised”, that they would steal my camera, attack me, even kill me’

Businessweek

Erdogan’s Wall Street Guy Is Back to Replenish Wiped-Out Coffers

Investors soured on Turkey’s contrarian economic policies. New Finance Minister Mehmet Simsek might just be able to bring enough of them back.

The New Daily

Treasurer signs off on cheques with reforms to the way we pay

Jim Chalmers has announced changes are on the way for Australia's payments system, with cheques and direct debits among the most major.

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