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The Latest Breaking News from Economy

'Economic growth will be choked off': Bruntwood boss warns of impact of Avanti West Coast cancellations

Avanti West Coast has blamed unofficial strike action for the reduced services, an accusation that has been rejected by unions

Birmingham Post

Saudi Arabia to Adopt Strategy to Stimulate Development, Innovation and Research

Senior Saudi government officials revealed serious trends towards activating development, innovation and research within the framework of the country’s transformation plan, disclosing the imminent completion of a strategy dedicated to research and development. The Ministry of Education launched on Wednesday in Riyadh, the first dialogue conference, entitled “Integration and Sustainable…

Asharq Al-Awsat

Explainer-How South Korea's trucker strike could paralyse critical supply chains

The second mass strike by unionised truckers in South Korea in less than six months on Thursday has the potential to cripple supply chains in an export-driven economy which is the world's 10th-largest.

Reuters

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Bank of England deputy governor could vote to cut interest rates if inflation pressures ease – as it happened

Sir Dave Ramsden expects to vote to keep raising borrowing costs, but sees potential for rate cuts if persistent inflation stops being a worry

The Guardian - UK

Be Thankful for Low-Skilled Workers

These are the people who showed up when the economy was shut down by the government, working in jobs labeled "essential."

Reason

PTT: Oil at $90 in 2023

Global crude oil prices are expected to keep decreasing to US$85-95 a barrel next year when the world economy slows down, according to analysts of national oil and gas conglomerate PTT Plc.

Bangkok Post

Top economist Mohamed El-Erian says we’re not just headed for another recession, but a ‘profound economic and financial shift’

The former CEO of PIMCO sees three trends that suggest a transformation in the global economy is under way.

Fortune

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US economy shows signs of slowing as Fed hikes filter through

Fresh evidence Wednesday pointed to a slowing U.S. economy and a cooling labor market that suggests steep interest-rate hikes by the Federal Reserve are starting to have a broader impact.

Tribune News Service

Nigeria hopes new currency notes curb inflation, corruption

Nigeria has unveiled newly designed currency notes that the West African nation’s central bank says will help curb inflation and money laundering

The Independent UK

Don't allow small firms to fail, says North East-based FSB chair

Martin McTague called on the Government to extend energy bills relief to small businesses

Birmingham Post

South Korea truckers strike again, manufacturing supply chain at risk

Unionised truckers in South Korea kicked off their second major strike in less than six months on Thursday, threatening to disrupt manufacturing and fuel supplies for industries from autos to petrochemicals in the world's 10th-largest economy.

Reuters

Why booking directly with airlines can be more expensive

Pandemic rebooking issues drove many air passengers to book directly with airlines instead of third-party travel sites

The Independent UK

Australia’s economy remains afloat – but there are choppy waters ahead

The OECD predicts 1.9% economic growth for Australia next year. That’s the good news

The Guardian - AU

Rishi Sunak says he's 'strengthened economy' - despite Brits facing recession

The Prime Minister clashed with the Labour leader Keir Starmer after a forecast suggested the UK faced the lowest growth on any G7 country over the next two years

Daily Mirror

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Insider UK

Scots continue to cut spending amid universal pessimism over the economy

93% of Scots believe economic conditions are worse now than they were this time last year

Birmingham Post

Freeport focused on green energy could create over 16,000 new jobs and £5.5 billion new investment, claims backers

The Celtic Freeport would deliver an accelerated pathway for Wales’ net zero economy says its members

Asharq Al-Awsat

China Widens COVID Curbs, Apple Factory Unrest Adds to Economy Worries

Chinese authorities imposed more restrictions on Wednesday to rein in a rapid rise in COVID-19 infections, adding to investors' worries about the economy just as fresh unrest at the world's largest iPhone factory highlighted the social and financial toll of these curbs. Across China, cities including the capital Beijing and…

Asharq Al-Awsat

US Tech Giant Hewlett Packard Plans Up to 6,000 Job Cuts

PC-maker Hewlett Packard on Tuesday said it would layoff as many as 6,000 employees over the next three years as the slumping world economy continues to embroil the US tech sector. HP, which has a payroll of about 61,000 people, said it aimed to secure $1.4 billion in annual savings…

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Al Jazeera

China’s COVID cases to smash records as video shows workers rebel

Chinese authorities are introducing new restrictions across the country as infections look set to pass April’s peak.

Reuters

China widens COVID curbs, Apple factory unrest adds to economy worries

(Corrects time since Guangzhou protest in 11th paragraph)

Fortune

HP Inc. is cutting up to 6,000 employees as it becomes the latest tech company to announce major layoffs

The layoffs come amid weaker sales and a faltering economy, with HP Inc.’s CEO describing it as a “volatile macro-environment.”

Al Jazeera

Struggling Tunisians find joy in spirited World Cup display

With their economy in crisis, Tunisians have little to smile about these days – but their football team is one of them.

StockNews.com

The 5 Best Stocks to Invest in for the Long Term

Despite current market uncertainties, the U.S. economy's long-term growth prospects are pretty viable. Experts believe inflation will fall dramatically in the coming year, and robust growth will follow. Therefore, investors could buy quality stocks Microsoft (MSFT), Vertex Pharmaceuticals (VRTX), Centene (CNC), Agilent Technologies (A), and Myers Industries (MYE), which seem…

The Guardian - UK

The Guardian view on Labour’s business deal: higher immigration for more workers’ rights

There is more to Sir Keir Starmer than meets the eye – it’s just less than one would hope for

Chronicle Live

Campaigners call for government to invest in childcare and overhaul system to help economy

The North East Child Poverty Commissions says childcare is the single biggest barrier to employment and increasing working hours

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People

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