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The Latest Breaking News from Economy

The new year has been rung in by a buildup of recession chatter. From Washington to Singapore, anxiety about a downturn is intensifying. While there are good reasons to be dour about the prospects for the global economy, 2023 doesn't have to be a write-off. It could even turn out…

Bangkok Post

America might just do the impossible and avoid a recession, according to top economist Mark Zandi

Moody’s chief economist says a “soft landing” for the U.S. economy is in the cards. But BlackRock’s Rick Rieder warns, “Policymakers’ ability to stick this landing for the economy and markets is still very much up in the air.”

Fortune

What 2023 has in store for the New Zealand economy

Economics is a dark art at the best of times, but with so many balls in the air, few things are a given.

Newsroom.co.nz

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Keir Starmer may win power, but he won’t be able to turn the UK around on the cheap

A Labour government is destined to fail unless it pledges to increase spending on public services, says James Meadway of the Progressive Economy Forum

The Guardian - UK

Biden's argument for student loan forgiveness is borrowers suffered financially during the pandemic. It's more complicated than that

The Biden administration is defending its widespread debt relief by saying that the pandemic “profoundly disrupted” the economy. New research suggests it’s not that simple.

Fortune

The South African government has been buying farmland for black farmers. It's not gone well

When the African National Congress came to power in South Africa in 1994, an expressed priority was land reform. This was to address the fact that black farmers had been excluded from the agricultural economy for most of the 20th century. The aim of land reform was to provide agricultural…

The Conversation

What's a 'gig' job? How it's legally defined affects workers' rights and protections

The “gig” economy has captured the attention of technology futurists, journalists, academics and policymakers.

The Conversation

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2 Stocks to Help Your Portfolio Counter a Recession

With the Fed’s indication of keeping higher interest rates this year in line with its commitment to bring down inflation to the 2% target, the odds of the economy tipping into a recession are escalating. Amid an uncertain macroeconomic backdrop, fundamentally strong dividend-paying stocks UnitedHealth (UNH) and PepsiCo (PEP) could…

StockNews.com

Welsh Government's own report says 20mph speed limit could cost economy billions

The minister for climate change said she is 'satisfied that the benefits justify the likely costs'.

Wales Online

Romania quietly catches up with richer neighbours, helped by EU cash

Romania's economy is set to outpace its stagnating neighbours this year, helped by European Union funding, currency stability and foreign investment driven in part by reshoring from Russia and Ukraine.

Reuters

Saudi Arabia Set to Become World’s Fastest-Growing Major Economy in 2023

Saudi Arabia is set to overtake India as the fastest-growing major economy in 2023 after the latter lost growth due to weak demand at home and abroad. The Kingdom’s real gross domestic product grew by 8.8 % in the third quarter of 2022 compared to the same period in 2021,…

Asharq Al-Awsat

Port bottlenecks cost economy $600m a year

Inefficiencies in Australian ports cost the economy $600 million a year and push up prices for consumers, a new report by the Productivity Commission has found.

AAP

Putin’s energy gambit fizzles as warm winter saves Europe

Russian President Vladimir Putin’s plans to squeeze Europe by weaponizing energy look to be fizzling, at least for now.

Tribune News Service

Plant-based plastics may not be as eco-friendly as they seem

Growing crops to make plastic could reduce reliance on fossil fuels, but at an enormous environmental cost.

Inverse

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360info

How migrant entrepreneurs find their way in South Africa

The pros and cons of the informal economy and how migrant business spaces are initiated and expanded.

Bangkok Post

New decrees to target tech crime, scams

A regulation aimed at preventing and suppressing technology crime is set to be submitted to the cabinet this month, says Digital Economy and Society (DES) Minister Chaiwut Thanakamanusorn, as the ministry moves to tackle online scams as a priority agenda item in 2023.

Tribune News Service

Economists fret over perils ahead for global growth

The world economy looks to be transitioning to a more difficult era in which interest rates will be higher, geopolitical tensions greater and uncertainties more pronounced.

Reuters

German Economy Minister: can't rule out deliveries of Leopard tanks to Ukraine

Germany cannot rule out the delivery of Leopard tanks, heavier fighting vehicles than the Marders, to support Ukrainian militry forces in the future, the country's economy minister told German broadcaster ARD.

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Reuters

Economy, energy row and drugs loom at North American summit

North American leaders aim to give new impetus to strengthening economic ties at a meeting this week, even as a major dispute grinds on over Mexico's energy policies which has distracted from cooperation on other issues like immigration.

The Guardian - UK

No matter their differences, Starmer and Sunak face the same obstacle

Whether it’s Labour plan for renewal or the Tory path to recovery, both remain hostage to circumstance in 2023

Bristol Post

Bristol City Council's planning backlog is badly 'impacting city's economy'

City Hall's planning department has 'ground to a halt' with at least four months to even get assigned a planning officer

AAP

Aussie experts head to Saudi mining forum

An Aussie contingent has top billing in Saudi Arabia as the oil state looks beyond "black gold" to critical minerals needed for a cleaner world economy.

The News Lens

Thailand Welcomes Tourism, Economic Progress, Looks Ahead to 2023 Elections

Experts say the elections could promote further economic growth and create stability for the kingdom.

Belfast Live

DUP slammed for 'cherry-picking' health report to attack Northern Ireland Protocol

The DUP did not mention that the report concludes Brexit is having "negative effects" on the UK's workforce, medicines and economy

The Independent UK

Kevin McCarthy’s concessions to far-right Republicans risk tanking the global economy

The US defaulting on its debt would risk tanking the US and global economy

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