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The Latest Breaking News from Economy

China’s Soaring Covid Numbers Raise Global Fears

Investors have welcomed China’s shift away from the zero-Covid strategy as good news for the world economy in the longer run. However, there are more immediate worries about the near-term impact of surging case numbers on trade and industry.

The News Lens

Karl W. Smith: The collapse in the US saving rate is misleading

The collapse in the personal U.S. saving rate to near a record low has fueled a narrative that consumers are clearly strapped heading into 2023. This is worrisome because consumer spending accounts for about two thirds of the economy. Heck, one widely shared analysis by Federal Reserve analysts estimated that…

Tribune News Service

Commentary: The tech meltdown will help the economy — eventually

Technology companies are shedding jobs at disturbing rates. Those with experience in computing are being laid off, sometimes with little warning. Freshly minted computer science graduates are facing employment headwinds not seen for well over a decade. Is this the next dot-com bubble burst, which could send the economy spiraling…

Chicago Tribune

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Tourism delivered $2.6 billion to NT economy in 2022, according to new government figures

Government figures show tourist numbers in the Northern Territory have recovered strongly, almost reaching pre-pandemic levels, but operators say more needs to be done to encourage visitors during the wet season.

ABC News

COVID-19 case numbers are exploding in China. Here's how the surge could impact the global economy

COVID-19 cases have surged in China since stringent restrictions were lifted and there are concerns about the economic ramifications this could bring.

ABC News

Hearses queue at Beijing crematorium, even as China reports no new COVID deaths

Dozens of hearses queued outside a Beijing crematorium on Wednesday, even as China reported no new COVID-19 deaths in its growing outbreak, sparking criticism of its virus accounting as the capital braces for a surge of cases.

Reuters

Small rise in business confidence across Wales as firms cautiously optimistic entering 2023

Welsh firms were more optimistic in the economy than in their own business prospects, latest figures from Lloyds Bank reveal

Birmingham Post

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To activate hope, activate capital

The atmosphere at the end of last month's UN Climate Change Conference (COP27) in Egypt was rather sobering. Russia's invasion of Ukraine has forced countries to turn to thermal coal and other fossil fuels to meet their energy needs, likely postponing the transition to a net-zero economy. But COP27 also…

Bangkok Post

New Year govt gift bonanza

The government will roll out a package of stimulus measures as "New Year gifts", including tax rebates for shoppers, reductions in land and building taxes, and property transaction fees to boost public consumption and the economy over the coming year.

Bangkok Post

Uncertainty ahead for Thai economy

The Thai economy will face many headwinds but also tailwinds next year, mainly from the global economy and geopolitical tensions. In 2022, the Thai economy slowly recovered from the Covid pandemic as lockdowns ended and the economy was reopened to international travel.

Bangkok Post

3 Energy Stocks to Help Fire Up Your Portfolio This Winter

Despite the recent retreat in oil and gas prices from their peaks due to concerns of an economic slowdown, the energy supply is expected to lag behind its demand in the long run. The energy sector has outperformed the broader market this year, and the reopening of the Chinese economy…

StockNews.com

Australia's economy recovered in 2022, will it crash in 2023?

Soaring inflation and aggressive central bank hikes were the theme of 2022, but will they continue with gusto in 2023? Here's what the experts think.

ABC News

Economists place 70% chance for US recession in 2023

Economists say there is a 7-in-10 likelihood that the U.S. economy will sink into a recession next year, slashing demand forecasts and trimming inflation projections in the wake of massive interest-rate hikes by the Federal Reserve.

Tribune News Service

‘Worse than feared’: Brexit to blame for £33bn loss to UK economy, study shows

Exclusive: Economy 5.5 per cent smaller than if Leave referendum hadn’t happened, says think tank

The Independent UK

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StockNews.com

The 2 Top Small-Cap Stocks to Buy for 2023

Market volatility is rife amid widespread macro headwinds. However, experts believe the U.S. economy might avoid a recession. Also, analysts are bullish on the performance of small-cap stocks. Therefore, quality small-cap stocks Yelp (YELP) and Ingles Markets (IMKTA) could be ideal buys for 2023. Keep reading….

The Independent UK

‘Economy. That’s OK. You will survive’: Singapore Airlines’ class signs spark jokes online

‘Who did this photoshoot?’, the social media poster asked

WEKU

Facing an energy crisis, Germans stock up on candles

Germans are on a mission to transform their energy economy and reduce their consumption, including by — apparently — using lots of candles.

The Conversation

Nigeria's economy in 2022: winners and losers

At the start of 2022, Nigerians hoped that, with less than two years to the end of President Muhammadu Buhari’s administration, the government would ramp up its efforts to reduce poverty and unemployment.

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The Independent UK

Brexit and Covid led to exodus of 500,000 from workforce ‘putting economy at risk’

Britain’s labour outlook ‘bleak’, finds report by senior peers

Tribune News Service

Texas’ economy keeps its edge by importing talent from other states and countries

Brittney Reeves had been in New York City for nine years when Microsoft asked her to consider working in Dallas. She jumped at the chance.

Bangkok Post

Govt approves tax break to boost public consumption

The cabinet on Tuesday approved a tax measure to help boost public consumption starting in January to support the economy as it recovers, a government spokesperson said on Tuesday.

Newcastle Herald

'Buy local': one in four Hunter businesses concerned about 2023 economic outlook

Shoppers have been urged to buy local in an effort to stimulate the Hunter's economy and retain jobs this Christmas.

The Guardian - UK

Exodus of more than half a million from workforce ‘puts UK economy at risk’

Loss of employees since Covid raises fears of weaker growth and higher inflation, says Lords report

Bangkok Post

Central bank upbeat on long-term growth

The Bank of Thailand expects the economy to continue to align with potential growth projections for the next two years, then strengthen in the longer term.

Fortune

Economist Dr. Doom is extra gloomy as he warns of a 'deep and protracted' recession—and says World War III has already begun

China-U.S. tensions, rising public and private debts, and climate change are just a few of the “MegaThreats” the global economy is facing.

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