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The Latest Breaking News from Economy

Hunt’s tinkering won’t steer the economy straight

City comment: If the Chancellor’s exciting new plan costs or saves less than £25 billion, it is a waste of time.

Evening Standard

South African leader grapples with ever-worsening power cuts

South Africa’s ever-worsening power crisis — putting homes and businesses without electricity for up to 10 hours per day — is strangling Africa’s most developed economy

The Independent UK

OPINION - The Standard View: We need legal, safe routes for refugees coming to Britain

A functioning immigration system is not only critical for public confidence but also for Britain’s economy and the responsibility of being able to offer safe haven to those who need it the most. At present, we are falling short on all three metrics.

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

French economy minister strikes anti-inflation deal with supermarkets

On Monday, the Finance and Economy Minister, Bruno Le Maire, launched a three-month anti-inflation drive, in cooperation with most major French supermarket chains. Under the plan, which will cost the companies "several hundred million euros", a selection of products will be made available at the lowest price possible.

Radio France Internationale

Singapore Airlines condemned for introducing ‘horrible and cheap-looking’ paper plates on flights

Customers threatened to take their business elsewhere as a result of the new trial

The Independent UK

Editorial: To Boost Confidence, Actions Speak Louder Than Words

Strong implementation of reform policies is pivotal to restoring the private sector’s confidence and stabilizing its expectations

Caixin Global

How the IMF naively parroted Putin’s fake statistics–and botched its economic forecast for Russia

The IMF simply does not have the data it needs to independently calculate Russia’s GDP by any accepted method.

Fortune

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Unions vow to shut France's economy down amid pension battle

Unions are threatening to shut down France’s economy this week in what they hope is their toughest riposte yet to President Emmanuel Macron’s plan to raise the retirement age

The Independent UK

Scotland’s electronic music industry worth £550m

New report highlights the contribution made by the nightlife sector

Insider UK

Lebanon Adopts ‘Dollarization’ as Currency, Economy Crumble

When Moheidein Bazazo opened his Beirut mini-market in 1986, during some of the fiercest fighting in Lebanon’s civil war, he didn’t expect it to thrive. But several years later, he had shelves full of food and needed 12 employees to help him manage a bustling business. Those days are over.…

Asharq Al-Awsat

Lebanon adopts ‘dollarization’ as currency, economy crumble

The Lebanese pound has lost 95% in value since late 2019, and now most restaurants and many stores are demanding to be paid in dollars to bypass what’s seen as a nearly useless currency

The Independent UK

Salman Al-Dossary: From a Prestigious Career in Journalism to Saudi Media Minister

Salman bin Yousef Al-Dossary was named Saudi Media Minister in a Royal Order by Custodian of the Two Holy Mosques King Salman bin Abdulaziz on Sunday. Al-Dossary will be embarking on his new journey after have spent 12 years at Asharq Al-Awsat newspaper. He will now forge the Kingdom’s media…

Asharq Al-Awsat

Shadow chancellor says Tories ‘squandering’ economic potential as cost-of-living crisis ‘number one concern’

Rachel Reeves said the UK is the ‘only G7 economy that’s still smaller than it was before the pandemic’

The Independent UK

AP News Digest 3 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EST. For up-to-the minute information on AP’s coverage, visit Coverage Plan.

The Independent UK

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France 24

France braces for strikes that could bring the country ‘to a standstill’ for days on end

Strikes against bitterly contested plans to reform pensions in France continue on Tuesday, and this time unions have upped the ante. Unlike previous walkouts, this week’s industrial action has no pre-arranged end date. With workers across multiple sectors expected to strike, life in France could grind to a halt for…

The Independent UK

Asian stocks gain after Wall Street has best day in 6 weeks

Shares are mostly higher in Asia after strong data on the U.S. economy sent Wall Street to its best close in six weeks

Al Jazeera

Why has China announced its lowest growth target in decades?

Beijing is aiming for a moderate growth rate of 5 percent in 2023 amid a host of domestic and external challenges.

The Independent UK

China Premier Li Keqiang bows out as Xi loyalists take reins

Chinese Premier Li Keqiang is taking his final bow in a departure that marks a shift from the technocrats who have helped steer the world's second-biggest economy in favor of officials with unquestioned loyalty to President Xi Jinping

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news in one place.

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The Independent UK

Shadow chancellor accuses Tories of ‘squandering’ UK’s economic potential

Rachel Reeves said the UK is the ‘only G7 economy that’s still smaller than it was before the pandemic’.

Bangkok Post

State eager to avoid fiscal fiasco

The government set an ambitious goal to achieve a balanced budget in 10 years, even though several obstacles still remain.

Fortune

Marc Andreessen: We’re heading into a world where a flat-screen TV that covers your entire wall costs $100 and a 4-year degree costs $1M

The cofounder of venture capital giant Andreessen Horowitz laid out his thoughts in his newsletter this weekend.

The New Daily

‘Incredibly difficult’: RBA prepares 10th straight rate hike, despite slowing economy

Struggling home owners face more bad news this week as the Reserve Bank prepares yet another hike in interest rates.

Radio France Internationale

China's "parliament" sets this year's economic growth target at 'around 5%'

China’s government announced plans for a consumer-led revival of the struggling economy as its legislature opened a session Sunday that will tighten President Xi Jinping’s control over business and society.

Asharq Al-Awsat

China Stresses Tech Self-reliance Target

China's science and technology policies should aim to build the country's strength and self-reliance, while companies take the lead in pushing innovation, Premier Li Keqiang said on Sunday. The country effectively countered external attempts to suppress and contain China’s development over the past five years by promoting development of the…

WEKU

Pushing for a post-COVID rebound, China targets GDP growth of 'around 5%' this year

Outgoing premier Li Keqiang told delegates at the National People's Congress that China is aiming to rebound economically after COVID slowed them down

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