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The Latest Breaking News from Economy

US debt standoff overshadows G7 finance leaders' meeting

A standoff in Washington over raising the U.S. debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders starting on Thursday, heightening U.S. recession fears as central banks seek a soft landing for the global economy.

Reuters

G7 finance ministers tackle global economic challenges as Yellen seeks to reassure on debt standoff

The financial leaders of the Group of Seven wealthy nations are meeting in Japan as a standoff over the U.S. debt ceiling looms as one of the biggest potential threats to the global economy

The Independent UK

Biden warns ‘millions of jobs’ at risk if debt ceiling not raised

US president accuses Republicans of holding economy hostage by demanding spending cuts to raise debt limit.

Al Jazeera

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£15-an-hour wage for carers would boost economy by £7bn - see how it helps your area

Workers' leaders today demand a pay hike for carers in a move aimed at filling the 165,000 vacancies blighting the sector and easing gender and race pay gaps

Daily Mirror

Israeli startup WeSpace aims to launch robotic 'moon hopper' by 2026

WeSpace wants to get in on the ground floor of the lunar economy by providing access to unexplored regions of the moon.

Space

Europe needs to steer its own trade agenda, German economy minister says

With China and the U.S. fixated on each other, Europe is at risk of being paralysed in between and needs to steer its own agenda, German Economy Minister Robert Habeck said on Wednesday.

Reuters

Is It Time To Bet on a Market Recovery? 3 Sectors Poised for Growth in a Post-Pandemic Era

In this article, discover 3 sectors that could beat the indexes in the mid-term.

Barchart

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Here’s Why TrueCar (TRUE) Faces a Tough Consumer Headwind

Although TrueCar has held up surprisingly well this year, it’s also facing a tough consumer-economy-related headwind that could impact TRUE stock.

Barchart

Instead of winning plaudits, why did Jim Chalmers’ budget surplus leave pundits nonplussed?

There’s a glorious irony that a surplus, after so many deficits, attracted such little attention

The Guardian - AU

The best and worst nights out in Greater Manchester ranked in new report

Some parts of the region have got better in the last 10 years but others much worse

Manchester Evening News

US inflation down only marginally

WASHINGTON: Consumer inflation in the United States nudged down only slightly in April, the Labor Department said on Wednesday, despite strong efforts to cool the economy and rein in price increases.

Bangkok Post

China’s population has peaked and is now falling – opportunities and risks for Africa

China will no longer be the world’s most populous nation. India’s population will overtake it this year at an estimated population of 1.42 billion.

The Conversation

Inflation stayed high last month, compounding the challenges facing the U.S. economy

Consumer prices in April were 4.9% higher than a year ago, according to the Labor Department. Prices rose 0.4% between March and April.

WEKU

Interest in sale of Prestwick Airport but no ‘going offers’ on table

Wellbeing Economy Secretary Neil Gray tells Economy and Fair Work Committee that discussions are ongoing

Insider UK

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Reason

Biden's Industrial Policy Promises a Return to the 1970s

The hard lesson that free markets are better than state control may have to be relearned.

The National (Scotland)

Six Scots renewables projects to deliver 15,000 jobs – if UK steps up, report says

SIX renewable energy projects currently under development in Scotland could create 15,000 jobs and generate billions for the economy, according to…

Al Jazeera

What happens if the US defaults on its debt?

Experts warn of ‘cataclysmic’ scenario if world’s biggest economy fails to meet its debt obligations.

Insider UK

Spring brings optimism as Scottish business sentiment rises

Almost every sector of the economy reported an improvement in the volume of business

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The National (Scotland)

New think tank on Scotland's economics launches – as poll shows appetite for change

JUST two per cent of Scots think their country’s economy is on the right track and no change is needed, according to a poll published…

Daily Record

Food workers are integral part of economy and deserve a pay rise

Record View says it is a damning indictment of Tory Britain that so many food workers do not have enough money to feed themselves

360info

The lasting changes of Japan’s post-war economic reforms

Japan’s industrial policy has been a blueprint for Asian nations, but many skip over the important context that made it all become a reality.

Wales Online

Longer lorries will be on British roads by the end of the month

Government believes the longer lorries could bring an additional £1.4bn to the economy, despite concerns over what happens if they take a wrong turn

Insider UK

81% of Scots think 'wealth is too concentrated'

New think tank conducts research suggesting most Scots think the economy is not on the right path

The Independent UK

McCarthy says ‘no movement’ from meeting over debt ceiling with Biden as GOP continues holding US economy hostage

‘Everybody in this meeting reiterated the positions they were at,’ House speaker tells reporters

Bangkok Post

Adobe inaugurates collaborative office

Adobe Inc, a global producer of creative design tools and document management software, has opened its first office in Thailand to capitalise on the growth of the country's digital and creative economy, marking a major milestone in its business expansion strategy in Southeast Asia.

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