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The Latest Breaking News from Economy

Recession to be worse than previously thought, experts say

EY said that while the recession might cut deeper than it thought earlier, it will not necessarily last longer than the previous forecast.

The Independent UK

Give parents better childcare support to fire up the economy, demands business chief

Confederation of British Industry director general Tony Danker will warn in a speech today that parents are being forced to limit the hours they work because affordable childcare is not available

Daily Mirror

Ulster University £26m search for world-leading production company for virtual studio

"Studio Ulster is a bold and ambitious example of how working in partnership we can achieve sustainable growth for the economy in Northern Ireland"

Belfast Live

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Recession fears if interest rates hiked

Deloitte Access Economics warns Australia could fall into a recession if the central bank lifts interest rates again, with households already hurting.

AAP

Mining, migration make Qld the top economy

The Sunshine State is the country's best-performing state economy for the first time in more than a decade of CommSec rankings.

AAP

What we learned at Davos: signs of hope emerge from the pessimism

Prospects for artificial intelligence and green transition fuel sense that the only way is up for the global economy

The Guardian - UK

Can India create enough jobs for its booming population?

India is on the cusp of a "demographic dividend," but economic growth isn't guaranteed.

Fortune

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Iran’s Raisi Pledges to Tackle Inflation

Iranian President Ebrahim Raisi on Sunday set the tackling of galloping inflation and currency devaluation as priorities for the 2023-2024 budget presented to parliament. The pledge came as the rial touched a new low. Addressing MPs, Raisi tried to reassure Iranians over the economy which faces a serious crisis due…

Asharq Al-Awsat

Award-winning pie restaurant announces shock closure in heartbreaking post

"Food & drink costs are rising rapidly, utilities are absolutely out of control and the landscape of our economy is so obscured it’s frightening"

Manchester Evening News

Mini refineries lead Nigeria’s quest to process own crude oil

On a river bank deep in the Niger Delta a local contractor is building one of a growing number of mini refineries that the Nigerian government hopes will finally help wean Africa’s biggest economy off foreign fuel.

Tribune News Service

Lib Dems target ‘blue wall’ Tory voters angry about NHS crisis

Party to switch focus from economy after polling shows voters in southern Conservative seats put health service as No 1 issue

The Guardian - UK

Profits of Omani Banks Rise 20%

Total net profits of Omani banks listed on the Muscat Stock Exchange (MSX) jumped by 20.6 percent to RO409mn in 2022 as compared to RO338.9mn profits reported in 2021. Preliminary financial results recently announced by the listed banks on the Muscat Stock Exchange showed an increase in profits of all…

Asharq Al-Awsat

Australia is banking on China’s economy to take off but headwinds are looming

The Albanese government is wary of Chinese economic volatility amid a slumping property sector and shrinking population

The Guardian - AU

Economy will be a rough ride no matter what

While Jacinda Ardern’s resignation is not likely to cause economic instability, new Prime Minister Chris Hipkins will have to contend with significant existing problems such as the cost of living crisis and declining business confidence, argues Dr Murat Ungor.

Newsroom.co.nz

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Asharq Al-Awsat

Egypt Says Nasrallah’s Statements About Economy Are 'Nonsense'

Spokesman for Egypt’s Ministry of Foreign Affairs Ahmed Abu Zeid on Friday called remarks by Hezbollah Secretary-General Hassan Nasrallah about the economic situation in Egypt “nonsense” and “an attempt to recall fake heroism.” Nasrallah’s statements are likely linked to Egypt snubbing Iranian attempts to open channels for communication between Cairo…

Daily Record

'Vape crusader' hails Scottish Government review into banning disposable e-cigs

EXCLUSIVE: Scots activist Laura Young welcomes inquest by ministers into the single-use devices as an 'exciting development'.

Chicago Tribune

In Chicago, Secretary of State Blinken says Putin has already lost what he wanted in Ukraine

CHICAGO — Making a brief visit to Chicago on Friday, U.S. Secretary of State Antony Blinken said while Ukrainians have suffered tremendously, Russian President Vladimir Putin’s invasion of Ukraine has inflicted “extraordinary damage” on his own citizens and military and that U.S.-led sanctions will take a dramatic toll on Russia’s…

Bangkok Post

Phone users warned over malicious apps

The Ministry of Digital Economy and Society (DES) has urged iPhone Operating System (iOS) and Android phone users to look out for some 200 malicious applications and delete them from their devices if found.

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StockNews.com

Investors: Please OPEN Your Eyes

The S&P 500 (SPY) seems to be on the verge of an important breakout above the key level of 4,000. That’s because some are applauding the lowering of inflationary pressures. However, the flip side of that coin is that this is happening because of a recession looming on the horizon…

StockNews.com

3 Nasdaq Stocks to Buy Now and Hold Forever

With inflation moderating and the Fed signaling to slow the pace of its rate hikes, the economy could likely avoid a recession and continue progressing toward a soft landing this year. Thus, fundamentally sound Nasdaq stocks Broadcom (AVGO), PepsiCo (PEP), and Cisco Systems (CSCO) could be wise investments to buy…

Fortune

Larry Summers says the economy is looking good—but a potential pitfall for the Fed could still be the 'greatest tragedy'

It's been all good economic news in recent weeks, but the former Treasury secretary warns the final stretch to fight inflation might be the hardest.

Ballotpedia

Kentucky threatens to divest from 11 banks over ESG policies

Kentucky State Treasurer Allison Ball (R) on January 2 issued a statement notifying 11 banks that their environmental, social, and corporate governance (ESG) policies amounted to energy boycotts that harmed the state’s economy according to definitions passed into law last spring. The statement says the banks have 90 days to…

Axios

A tale of two job markets

Layoffs signal trouble ahead, yet other key indicators show an economy that's chugging along.

The Times of India

India, UAE in early talks to settle non-oil trade in rupees

The United Arab Emirates (UAE) and India are discussing ways to boost non-oil trade in rupees as the Gulf country looks to strengthen ties with a major trade partner and boost its economy.

Evening Standard

Germany under growing pressure to send tanks to Ukraine

It’s amazing what the Germans can do when they put their mind to it. Prior to February 2022, the country was heavily reliant on Russian gas to heat its homes and power the mighty industries that make it the fourth-largest economy in the world. Before the war, more than half…

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