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The Latest Breaking News from Economy

North East universities put more than £2bn into region's economy

New report says Newcastle, Northumbria, Durham, Sunderland and Teesside universities support hundreds of innovative firms

Birmingham Post

The Treasury secretary says the red-hot labor market means the U.S. can avoid a recession: ‘You don’t have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years’

“The country has been through a lot…But really we have a strong and resilient economy,” Yellen told ABC. “And inflation is coming down.”

Fortune

IMF: U.S. economy might yet manage to pull off a soft landing and avoid recession

Treasury Secretary Janet Yellen also downplayed the risk of the U.S. economy contracting: “You don’t have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years.”

Fortune

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Grant Shapps admits Liz Truss ‘clearly’ took the wrong approach to the economy

Grant Shapps has admitted that Liz Truss’s approach to the economy “clearly” wasn’t the right one.

Evening Standard

Pakistan, IMF grapple for consensus to unlock critical funding

Pakistan and the visiting International Monetary Fund mission are struggling to arrive at a consensus on fiscal adjustment plans, sources said on Monday, in talks aimed at unlocking critical funds needed for the ailing South Asian economy.

Reuters

3 Stocks to Steer Clear From in February 2023

While the Fed’s rate hikes and a slowing economy have kept sales under pressure, rising tensions between the US and China might cause further disruptions in the EV industry. Hence, fundamentally weak stocks NIO (NIO), Nikola (NKLA), and Lordstown Motors (RIDE) might be best avoided now. Keep reading.

StockNews.com

Link between crime and politics in South Africa raises concerns about criminal gangs taking over

A report by the Global Initiative Against Transnational Organised Crime (Gitoc) released in September 2022 argues that South Africa has increasingly become a centre of organised crime, transcending national boundaries.

The Conversation

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Liverpool Council needs 'cold hard cash' from late night levy

£1.5m has been raised by the scheme in the past five years

Liverpool Echo

Wife livid as husband booked her economy flight with toddler - but he flew business

The husband and wife fell out after he landed himself a luxury seat in business class for a 14 hour flight while his partner and child were left in economy class

Daily Mirror

Bank of England could be forced to raise interest rates again, says policymaker

Inflation could become entrenched as Covid, energy shock and Brexit hit economy, says Catherine Mann

The Guardian - UK

Editorial: Refugees want jobs, and the economy wants workers

With a total of 517,000 new jobs created last month and total employment estimates revised up, the country now has the lowest unemployment rate in more than half a century.

Tribune News Service

IAEE Conference Discusses Opportunities for Advancing ‘Hydrogen Economy’

Hosted for the first time in the MENA region, the 44th International Association for Energy Economics (IAEE) Conference in Riyadh reviewed the risks of volatility in global oil and gas markets. Participants at the summit also discussed threats to future opportunities offered by the hydrogen economy. Prince Abdulaziz bin Salman,…

Asharq Al-Awsat

Egypt Private Sector Activity Slides for 26th Month in Row

A contraction in Egyptian non-oil private sector activity entered its 26th straight month as high inflation and a continued shortage of foreign currency weighed on business, a survey showed on Sunday. The S&P Global Egypt Purchasing Managers' Index (PMI) slipped to 45.5 in January from 47.2 in December, well below…

Asharq Al-Awsat

Indonesian economic growth rises to 9-year high

Indonesia's economic growth accelerated to a nine-year high in 2022 despite global uncertainty and a final-quarter slowdown, official data showed Monday, owing to soaring commodity prices and easing Covid-19 curbs.

Bangkok Post

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The Guardian - US

Biden has revived democratic capitalism – and changed the economic paradigm

The president’s domestic successes offer a rebuke to disciples of Reagan: the ‘free market’ has never existed

Daily Record

Liz Truss' comeback bid shows not apologising is a typical Tory trait

After nearly crashing the UK economy, Liz Truss should retreat into silence, writes Record View.

The New Daily

Higher rates, falling home prices and real wages, but no recession: Economists’ forecast for 2023

Higher interest rates, falling home prices and real wages, but no recession. The economic forecast from top financial experts.

The Independent UK

Biden's State of the Union to tout policy wins on economy

President Joe Biden will use his second State of the Union address on Tuesday to remind Americans of how their lives have been improved over his first two years in office, as he tries to navigate the tricky politics of a newly divided Washington

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AAP

PM urges Indigenous voice support as parliament returns

As federal parliament returns for the year, Prime Minister Albanese is focused on building support for an Indigenous voice.

AAP

Indigenous voice and economy top parliamentary agenda

The prime minister says a referendum on an Indigenous voice won't distract the government from pressing challenges like cost of living and national security.

The Independent UK

How to watch Joe Biden’s State of the Union address

President expected to discuss police reform, economy and Ukraine war

The Guardian - US

Biden faces ‘tightrope’ in balancing realism and optimism in State of the Union

President’s second address on Tuesday comes at a critical moment, as House Republicans are eager to damage his 2024 election prospects

The Japan News/Yomiuri

New system to pay 20% more for solar power

The economy ministry plans to introduce a system in which electric power generated by solar panels on the roofs of company buildings, factories and warehouses will be purchased at 20% higher prices than power generated from panels on the ground.

The Guardian - UK

In the global race to dominate green technology, Britain is still tying its shoelaces

As the US, China and now the EU compete for the fruits of the green economy, the UK is hamstrung by Tory dogma, dither and delay

The Conversation

Weed in South Africa: apartheid waged a war on drugs that still has unequal effects today

Cannabis is being commercialised into a multibillion-dollar global industry and South Africa wants a piece of the pie. In his 2022 state of the nation address, President Cyril Ramaphosa spoke of developing a hemp and cannabis sector to boost the post-COVID economy.

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