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The Latest Breaking News from Economy

Asia stocks echo Wall Street rally as inflation report looms

Asian shares are trading higher, boosted by a rally on Wall Street that came ahead of some potentially market-moving reports scheduled for later in the week

The Independent UK

COVID-19 turned global supply chains upside down – 3 ways the pandemic forced companies to rethink and transform how they source their products

This is the sixth and final installment in our series on where the global economy is heading in 2023. It follows recent articles on industrial action, inflation, energy, food and the cost of living.

The Conversation

3 Surefire Stocks to Add to Your Portfolio in 2023

With slow wage growth and low unemployment raising hopes of the much-coveted soft landing for the economy, loading up on fundamentally strong and profitable stocks Cisco Systems (CSCO), United Microelectronics (UMC), and Acuity Brands (AYI) could help generate solid returns. Continue reading….

StockNews.com

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Kentucky threatens to divest from 11 banks over ESG policies

On January 2, Kentucky State Treasurer Allison Ball (R) issued a statement notifying 11 banks that their 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 stop what Kentucky argues are…

Ballotpedia

Putin's stalled Ukraine war could make Russia a failed state by 2033, global strategists say

Economic collapse and social upheaval could be in the cards for Russia and Putin by 2033.

Fortune

Jamie Dimon rattled the markets last year by comparing the coming recession to a 'hurricane.' Now he says it's just some 'storm clouds'

JPMorgan Chase CEO Jamie Dimon says he shouldn't have used the word "hurricane" to describe what lies ahead for the U.S. economy last year, but adds that there still are "storm clouds" and "heightened uncertainty."

Fortune

World Bank: Recession a Looming Threat for Global Economy

The global economy will come “perilously close" to a recession this year, led by weaker growth in all the world's top economies — the United States, Europe and China — the World Bank warned on Tuesday. In an annual report, the World Bank, which lends money to poorer countries for…

Asharq Al-Awsat

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Powell vows to limit Fed’s climate role to protect independence

Federal Reserve Chair Jerome Powell sought to draw a line around how far the central bank will use its powers to promote a greener economy, vowing it will not be a climate regulator.

Tribune News Service

World Bank forecasts India's FY23 GDP at 6.9%; warns of global recession

NEW DELHI: The World Bank on Tuesday retained India's economic growth at 6.9% for financial year 2022-23.

The Times of India

China Is Scaling Back Its Failed Semiconductor Industrial Policies. America Should Do the Same.

The warning signs are flashing "don't be like China."

Reason

Global economy 2023: what happens next with industrial action

This is the fifth instalment in our series on where the global economy is heading in 2023. It follows recent articles on inflation, energy, food and the cost of living.

The Conversation

World Bank warning: Global economy is at risk of recession

The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warns

The Independent UK

2 Growth Stocks to Buy Before They Take Off

Growth stocks may stage a recovery as interest rate hikes might slow, and the economy might achieve a soft landing. Moreover, a market rebound seems to be in the cards in 2023. Therefore, fundamentally strong growth stocks CVS Health (CVS) and General Motors (GM) could be solid buys now. Keep…

StockNews.com

How far would you go to avoid paying hundreds of pounds in flight tax?

Plane Talk: Air Passenger Duty rises for long-haul trips in April – up to £200 for longer trips in anything better than basic economy

The Independent UK

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The New Daily

Queensland tourism surge smashes records as travellers shrug off COVID

Destination Gold Coast was anticipating a $657 million injection into the local economy over the period from Boxing Day to Australia Day.

Wales Online

Three quarters of us are concerned about economy and 58% worry about our budgets

There are fears we are heading for a 'financial lockdown'

Bangkok Post

Xi warns officials about ‘collusion’ with business

Chinese leader Xi Jinping warned officials against “colluding” with the business world, underscoring that his government’s crackdown on the private sector will remain a concern for investors despite efforts to revive the economy.

Reuters

China suspends issuing visas in Japan, S.Korea to retaliate for COVID curbs

China suspended issuing short-term visas in South Korea and Japan on Tuesday, after announcing it would retaliate against countries that required negative COVID-19 tests from Chinese travellers.

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news in one place.

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Tribune News Service

Editorial: Competition is all-American: The Biden administration is right to move to ban noncompete agreements

We don’t know whether the Federal Trade Commission is right that forbidding noncompete agreements in labor contracts will increase wages by nearly $300 billion per year. Nor do we have a strong opinion about whether the ban can be carried out via regulation, as just proposed, or requires legislation like…

Asharq Al-Awsat

Saudi Crown Prince Announces Diriyah as PIF’s Fifth Giga-Project

Saudi Crown Prince and Chairman of the Public Investment Fund (PIF) Mohammed bin Salman announced on Monday designating Diriyah as the fifth giga-project owned by the Kingdom’s sovereign wealth fund. The Diriyah tourism project aligns with PIF’s strategy for achieving the goals of the Kingdom’s plan for national transformation, Vision…

Fortune

Economists see a silver lining to China’s COVID chaos: better-than-expected 2023 economic growth

Banks are raising their forecasts for China's 2023 GDP growth, even as the country endures a massive COVID wave.

The Independent UK

German, Lithuanian lawmakers show support in Taiwan visit

Lithuanian lawmakers on a visit to Taiwan have taken aim at China, saying the world’s second largest economy tried to use all sorts of measures to change Lithuania’s decision to break diplomatic norms in warming up relations with the self-ruled island

The Independent UK

China economy recovering but hampered by virus outbreaks

The most optimistic forecasts say China’s business and consumer activity might revive as early as the first quarter of this year

Wales Online

Wales aims to build world-leading lab to fight cancer

Economy minister Vaughan Gething says the UK is at risk of a 'future health and economic crisis'

Miami Herald

With not a single elected leader left, Haiti is becoming a textbook case of a ‘failed state’

For years, Haiti has suffered from a disastrous economy, a struggling police force and a practically invisible government.

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