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The Latest Breaking News from Economy

Elon Musk says US and China tensions over Taiwan control should be 'concern for everyone'

The Twitter CEO described the Chinese economy and global economy like 'conjoined twins' as he warned of the potential catastrophic impact of a Chinese invasion of Taiwan

Daily Mirror

Zelda: Tears of the Kingdom duplication glitch already has the game's economy in shambles

Link's printing money

GamesRadar

Recession Calls Keep Getting Pushed Back, Giving Soft Landing Believers Hope

Defying sharp rate hikes, unemployment stays low and consumers resilient.

Businessweek

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What is the tourism tax? Jeremy Hunt could scrap controversial measure affecting London

Businesses have been urging the prime minister to reinstate tax-free shopping for tourists

Evening Standard

Top German ministry official resigns after accusations of favoritism

A top official at the German economy and climate ministry has resigned following accusations that he was involved in choosing his best man to head the federally owned German Energy Agency and signed off on financial support for a project in which his sister was involved

The Independent UK

Silvertown tunnel among projects hailed as ‘exemplar’ boost to London economy

Work on the newest Thames tunnel – roughly beneath the Emirates cable car – has stirred controversy

Evening Standard

German economy ministry official leaves post amid nepotism scandal

A senior official in the German economy ministry is leaving his post after a nepotism scandal, Economy Minister Robert Habeck confirmed on Wednesday.

Reuters

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It's important to de-risk global economy in era of volatility and uncertainty: Jaishankar

In the era of volatility and uncertainty, it’s important to de-risk the global economy and yet to ensure that there is very responsible growth, External Affairs Minister S. Jaishankar has said. His remarks came following the first meeting of the India-EU Trade and Technology Council (TTC) held in Brussels on…

The Hindu

Ceremony foretells ample water, food and prospering economy

Sufficient water, abundant crops and a prosperous economy were predicted during the Royal Ploughing Ceremony at Sanam Luang in Bangkok presided over by Their Majesties the King and Queen on Wednesday morning.

Bangkok Post

Japan's economy rebounds on healthy consumption as COVID restrictions ease, tourists arrive

Japan’s economy has grown at an annual pace of 1.6% in the quarter through March

The Independent UK

How the US could easily avoid default

As the US hits its $31 trillion debt ceiling, there's a danger it could default. Yet the solution to avoiding the debt ceiling is surprisingly simple.

360info

What is the US debt ceiling? How does it affect the economy? Could Australia be impacted?

The United States is rapidly running out of money to pay its bills unless the Republicans and Democrats can agree on a new deal. Here's how the US got here, and what it means for Australia.

ABC News

Analysts upbeat on Thai growth outlook

Thailand's economic growth is expected to accelerate in the final nine months of this year, even as the global economy teeters near a recession, thanks partly to a lift following the May 14 election, analysts say.

Bangkok Post

Sluggish economy tames local oil prices

Diesel prices dipped again on Monday to around 32 baht a litre as global crude oil prices are on a decline.

Bangkok Post

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The Independent UK

Biden’s trip abroad in limbo as leaders scramble to avoid debt default

Mr Biden may nix travel to Australia and Papua New Guinea so he can be present for negotiations over raising the government’s statutory debt limit

Fortune

Top Obama economist says we should abolish the debt limit as the current political 'brinksmanship' hurts the economy

The Harvard professor has argued since 2017 that the debt ceiling no longer helps restrain the national debt as intended.

The National (Scotland)

The economy works for so few people – what can we do about that?

Welcome to the brand new, free newsletter from Scotonomics and The National. Click the banner below to receive it straight to your inbox every…

The Independent UK

Lawsuit filed against Twitter, Saudi Arabia; claims acts of transnational repression committed

A humanitarian aid worker who used an anonymous Twitter account to mock Saudi Arabia about its economy has filed a federal racketeering lawsuit against the social media platform, the kingdom and a number of individuals alleging an attempt to silence critics overseas

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Radio France Internationale

No time to waste in cutting plastic pollution, UN warns ahead of treaty talks

A roadmap for slashing the plastic pollution ravaging the world’s oceans and ecosystems was on Tuesday put forward by UN experts – who say the coming years will be instrumental in curbing millions of metric tonnes of waste and creating a circular economy.

Evening Standard

Smokers cost London’s economy £2.6bn a year, figures reveal

There are almost 800,000 smokers in the capital, creating an overall cost of £3bn

The Conversation

COVID-19's total cost to the economy in US will reach $14 trillion by end of 2023 – new research

The Research Brief is a short take about interesting academic work.

The Conversation

Nigeria’s street food adds to the plastic problem – green leaves offer a solution

Street food is popular in Nigerian cities. Most of the local food delicacies are sold by vendors whose livelihoods depend on informal subsistence activities such as local food production and street food hawking. They are part of Nigeria’s vast informal sector, which accounts for 57.7% of the country’s economy.

WEKU

A lot of offices are still empty — and it's becoming a major risk for the economy

The office property sector is in trouble as many workplaces remain empty, and that threatens to spark a number of economic problems, including more pain at the country's banks.

Birmingham Post

South West secures share of £30m government fund to improve roads

Several projects UK-wide have received funding from the Department for Transport, as part of a three-year programme developed by the Association of Directors of Environment, Economy, Planning and Transport (ADEPT)

The National (Scotland)

Nigel Farage admits 'Brexit has failed' as he slams 'useless' politicians

NIGEL Farage has admitted that “Brexit has failed” in an interview after he was read a list of disastrous facts about the UK economy.

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