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The Latest Breaking News from Economy

UK’s first deposit return scheme ‘cannot go ahead as planned’, minister says

Scottish circular economy minister Lorna Slater insisted the scheme, which has been passed by Holyrood, had been ‘show down’ by Westminster.

The Independent UK

World Bank offers dim outlook for the global economy in face of higher interest rates

The global economy is likely slowing sharply this year, hobbled by high interest rates, the repercussions of Russia’s invasion of Ukraine and the lingering effects of the coronavirus pandemic

The Independent UK

Poorest countries are biggest losers from economic shocks, says World Bank

Combined impact of Covid crisis, Ukraine war and tough measures by central banks taking heavy toll

The Guardian - UK

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Spain asks EU for $90 billion in loans ahead of July election

Spain has asked the European Commission for 84 billion euros ($90 billion) in loans from the bloc's COVID-19 recovery package, a quarter of which will be managed by the European Investment Bank, Economy Minister Nadia Calvino said on Tuesday.

Reuters

EU warns of 'solidarity fatigue' despite warm welcome for millions of Ukraine refugees

The EU is warning of “solidarity fatigue” toward Ukrainian refugees as the bloc's economy slows, affecting poor families in particular

The Independent UK

India’s digital economy to grow over five-fold to $1 trillion by 2030: report

Titled India e-Conomy Report, the research states that India is in its ‘Digital Decade’ and its internet economy will grow to 12-13% of its GDP by the end of the decade from the current 4-5%

The Hindu

An Oregon city hoped Google would save its economy. Years later, some residents call the tech giant 'Voldemort'

Google's tax dollars and jobs have boosted The Dalles. But the company’s insistence on secrecy is making residents uneasy.

Fortune

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FTSE 100 Live: US regulator continues to crack down on crypto; FTSE closes at 7628 after late-day climb

Worries over interest rate hikes into an already slowing global economy today held back blue-chip stocks and left oil prices lower.

Evening Standard

Futures are Signaling a Muted Open for Wall Street as Investors Weigh Economic Outlook

June S&P 500 futures (ESM23) are down -0.08%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.06% this morning after three major U.S. benchmark indices finished the regular session lower as weaker-than-expected U.S. economic data stoked investor concerns about the health of the economy.

Barchart

Irish politician and aide enjoy lavish business class flight to Brazil with huge price tag

The junior minister flew business despite other senior government ministers and aides flying economy further for the annual Paddy’s Day jamborees

Dublin Live

Interest rate fears drive housebuilding down at pace only seen during pandemic and financial crisis

The data “will send a chill down the spine of the UK economy”, economist Dr John Glen said

Evening Standard

White House website highlights infrastructure as Biden pushes policy wins

The White House on Tuesday is starting a website to map and track tens of thousands of infrastructure projects and private manufacturing investments, an effort by the administration to show the impact of its policies on the U.S. economy

The Independent UK

Japan PM Kishida unveils economic action plan on 'new capitalism'

Japanese Prime Minister Fumio Kishida's government on Tuesday unveiled an action plan on his "new capitalism" programme of driving growth and wealth distribution through wage hikes, signalling his commitment to shift the economy into a higher gear.

Reuters

Castle Douglas swimming pool refurbishment comes with £1.4 million price tag

Members of the council's economy and resources committee will be asked to approve allocating funds to the scheme over the next three years

Daily Record

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The Conversation

Why Reserve Bank Governor Philip Lowe wants to damage the economy further

Reserve Bank Governor Philip Lowe and his board have pushed up interest rates yet again – for the twelfth time in 14 months – because they want to damage the economy further.

Irish Mirror

Irish politician and aide enjoy lavish business class flight to Brazil with whopping price tag

The Irish Mirror revealed last month that of eight ministers who flew business class for Paddy’s Day trips, four were junior ministers.

The Independent UK

Stock market today: Asian stocks mixed after Wall St retreats on concern economy weakening

Asian stock markets are mixed after Wall Street fell on concern the U.S. economy may be weakening following a report that showed growth in service industries slowing

Al Jazeera

Old is gold: Can ageing spark a surprise economic boom?

Health, tech and saved wealth could turn an ageing workforce from an economic challenge into an advantage, say experts.

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news in one place.

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The National (Scotland)

Why the right have got it all wrong about Adam Smith, one of Scotland's finest minds

We do not know the exact date of his birth but yesterday marked the 300th anniversary of the baptism of Adam Smith, the Kirkcaldy-born father of…

Daily Record

Years of Tory economic mismanagement has cost Scotland £8.5bn, claims Labour

Research suggests Scotland’s economy would be £8.5bn bigger had it grown since 2010 as it did under the last Labour government.

Al Jazeera

Living the ‘Chinese Dream’: Beijing’s new world order

As Beijing boosts its diplomatic clout, analysts say it wants to “remould” and even supplant existing institutions.

The Conversation

Building activity produces 18% of emissions and a shocking 40% of our landfill waste. We must move to a circular economy – here’s how

Architecture, engineering and construction employ 1.2 million people in Australia and account for 9% of GDP. But our biggest services sector also produces roughly 40% of landfill waste and accounts for 18.1% of Australia’s carbon footprint. The sector must change its practices fast for Australia to meet its commitments to…

Businessweek

Giorgia Meloni Seeks to Cement Power by Remaking Corporate Italy

The right-wing leader must decide whether to opt out of China deal as she looks to drive change in the economy through state-owned companies.

ABC News

Angus Taylor says Australia's core inflation is higher than all the countries in the G7. Is that correct?

Shadow Treasurer Angus Taylor says Australia has higher core inflation than all of the countries in the G7. Is that correct? RMIT ABC Fact Check investigates.

Fortune

The Fortune 500 is dominated by just 50 companies that raked in nearly half of all earnings

The latest Fortune 500 list revealed more consolidation in the American economy: The top 50 companies accounted for over 45% of total corporate profits.

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