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The Latest Breaking News from Economy

Biden, McCarthy reach tentative deal to raise US debt ceiling

Deal raises debt limit for two years while capping spending, but uncertainty remains on whether it can pass Congress.

Al Jazeera

Biden, McCarthy reach tentative US debt ceiling deal

U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to suspend the federal government's $31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate.

Reuters

Tentative deal struck to raise US debt limit and avert default crisis

Biden and top Republican Kevin McCarthy have reached a tentative deal to raise the federal government's $US31.4 trillion debt ceiling

The New Daily

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'Could not deal with all the clothes': Canberrans' penchant for purchasing examined

Circular economy strategy to look at textile solutions.

The Canberra Times

Pacific islands, in spotlight, to push climate change in South Korea summit

Pacific island leaders will meet South Korea's President Yoon Suk Yeol in Seoul on Monday, their third summit in a week with a large economy as the region seeks stronger action on climate change as it becomes a focus of geopolitical power attention.

Reuters

Turkey's runoff election will decide if Erdogan extends his 20-year rule

After an inconclusive round one, Sunday's vote should decide whether citizens still want President Recep Tayyip Erdogan in charge for another five-year term, and he could have an edge to win.

WEKU

Democratic veterans from 2 decades of budget wars say the national debt isn't worth holding the U.S. and global economy 'hostage'

"If the future is what you care about, then doing things that hurt the future doesn't make sense.”

Fortune

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Opportunities in a global and Thai economic storm

The global economy and investment climate have been quite volatile this month. Most economic figures have begun to show signs of slowing down, while events that affect investment have been mostly negative.

Bangkok Post

More than 1.5m premium economy Avanti journeys made in past two years

Avanti West Coast introduced standard premium fares in May 2021.

The Independent UK

Planning unit emerges from the shadows

The Commerce Ministry established the Trade Policy and Strategy Office (TPSO) in 2015 primarily to support the development of the economy through trade and economic data.

Bangkok Post

Top economist David Rosenberg says we're already in a recession, but 'nobody has noticed'

Experts widely predicted a recession, but Rosenberg says we're already in one—we just haven't been looking at the right data.

Fortune

Rishi Sunak warned over possible UK recession in 2024

High inflation likely to push interest rates above 5% and force up mortgage and loan payments just ahead of election

The Guardian - UK

Nearly 3 in 5 U.S. adults are lonely–and it could be one of the biggest under-the-radar issues the economy is facing

Chronic loneliness rewires our brains, produces harmful inflammation, and fuels nearly every dangerous disease in the book.

Fortune

U.S. economy hotter than policymakers would like

Friday's data raises big questions about what's ahead for the Federal Reserve.

Axios

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Fortune

Europe's largest economy has been in a recession for 6 months and nobody noticed

While the German stock exchange was busy reaching new all-time highs, consumers faced with high inflation went on strike, crippling the economy.

The Guardian - AU

Class war, aspiration and the politics of property: the heated debate over the Victorian budget

The Liberal party has successfully prosecuted Labor for stifling aspiration for decades, but it may not work in in this economy

Bangkok Post

Washington inching closer to debt deal

WASHINGTON: Democrats and Republicans inched towards a deal on Friday, ahead of a long weekend, to extend the US debt ceiling and avoid a crippling default that could hit the world's biggest economy within days.

Daily Record

Scottish Government Minister hits out at 'glass exemption' plan for deposit return scheme

Circular economy minister Lorna Slater said the reported UK Government proposal would “ride roughshod over the devolution settlement”.

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The National (Scotland)

Nicola Sturgeon weighs in on devolution row with UK Government over DRS glass ban

The former first minister made the comments after Circular Economy minister Lorna Slater blasted the move as showing “utter disregard for…

The Independent UK

UK's Treasury chief accepts that recession may be necessary to get inflation down

Britain’s Treasury chief says he would be prepared to see the British economy slip back into recession if further interest rate hikes are necessary to bring down inflation

Birmingham Post

Reconomy Group buys Nottinghamshire-based UK Waste Solutions

UK Waste Solutions employs 160 people and owns brands including Novati, AMA, Click Waste UK and Evolution

The Independent UK

A measure of inflation that is closely tracked by the Federal Reserve increased in April

A key index of U.S. prices ticked higher in April as consumer spending rebounded, a sign that inflationary pressures in the economy remain high

Al Jazeera

Nigerians look to president-elect Tinubu for economic turnaround

Voters have been let down before, wonder if Bola Tinubu will be able to fix systemic issues in Africa’s largest economy.

Birmingham Post

Skyline Swansea would bring 100 jobs and £84m boost to local economy, says report

The Skyline Swansea project has been proposed by New Zealand company Skyline Enterprises

Al Jazeera

Turkey election: What do Erdogan and Kilicdaroglu have to offer?

Here is a rundown of presidential candidates’ promises and rhetoric on issues such as security, refugees and economy.

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