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The Latest Breaking News from Economy

Beijing shuts parks, Shanghai tightens entry as China COVID cases rise

Beijing shut parks and museums on Tuesday and Shanghai tightened rules for people entering the city as Chinese authorities grapple with a spike in COVID-19 cases that has deepened concern about the economy and dimmed hopes for a quick reopening.

Reuters

China sees lockdowns surge in week since Covid policy adjusted

BEIJING: Covid control restrictions now weigh on a fifth of China's economy as infections continue their upward march, defying the central government's call for more targeted, less disruptive Covid Zero measures.

The Times of India

Union Budget 2023: India Inc seeks capex focus, sops for jobs in next budget

NEW DELHI: Industry captains on Monday asked finance minister Nirmala Sitharaman to retain her focus on public spending on infrastructure, which will also include private investment, provide sops for sectors that create additional jobs, continue the concessional tax regime for the manufacturing sector and help channelise funds into the green…

The Times of India

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Keir Starmer vows to wean business off ‘cheap labour’

Labour leader to tell CBI conference that UK’s low-pay economy and reliance on immigration must end

The Guardian - UK

Analysis-China's great reopening may come too late for many businesses

The culinary tourism business of Brian Bergey and his wife Ruixi Hu has persevered in China through three years of harsh COVID-19 restrictions.

Reuters

More than 6,000 tech and biotech job cuts roil Bay Area economy

Tech and biotech companies have revealed plans recently for enough job cuts to erase more than 6,000 jobs in the Bay Area, cutbacks that could weigh on the region’s economy in the weeks and months to come.

Tribune News Service

Agency upbeat on 2023 growth view

Despite myriad challenges in the year to come, the economy is expected to maintain its growth momentum in 2023 boosted by recovering tourism, expanding private and public investment, continual gains in domestic demand and high growth in the agricultural sector.

Bangkok Post

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AI to help crush online fraud

Wisit Wisitsora-at, newly appointed permanent secretary for digital economy and society (DES), says his priority task is to stamp out rampant fraudulent activity online.

Bangkok Post

ASX rises despite Wall Street's losses and China's renewed COVID-19 lockdowns

Australian shares trade moderately higher, despite losses on Wall Street as a spike in COVID-19 cases and newly recorded deaths in China lead to lockdowns being reinstated in the world's second-largest economy.

ABC News

Mystic Rish! predicts bold future where innovation trumps immigration

PM tells business leaders all they have to do to make most of Brexit is to go forth and innovate

The Guardian - UK

2 Strong Stocks to Consider Buying This November

While market volatility is still prevalent, experts believe the U.S. economy might succeed in achieving a 'soft landing.' Moreover, most S&P 500 companies surpassed revenue and EPS estimates in the third quarter. Therefore, fundamentally sound stocks Pfizer (PFE) and Flowers Foods (FLO) could be ideal additions to your portfolio now.…

StockNews.com

Group aims to raise £2000 so kids don't go without presents this Christmas

“Heating or eating is really a thing. In the fifth richest economy that simply shouldn’t happen”

Liverpool Echo

The U.S. Travel Association: ‘Visa processing delays are hurting economic growth. Here’s how the Obama Administration solved the same problem 10 years ago’

Discouraging travelers from just three countries–Brazil, India, and Mexico–will cost the economy $5 billion next year, according to the U.S. Travel Association.

Fortune

Wishaw MP says households in Lanarkshire facing shortfall due to Brexit

Those living in North Lanarkshire face a shortfall of £157 million according to MP Marion Fellows

Daily Record

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The Conversation

Autumn statement is highly political compared to research on 'best' ways to fix public finances

The UK faces some significant belt-tightening following Chancellor Jeremy Hunt’s autumn statement, which announced spending reductions and tax rises of around £55 billion. Much research has been done into the best ways to do fiscal austerity in terms of reducing debt, avoiding economic damage and not exacerbating inequality. So how…

The Conversation

COP27 flinched on phasing out 'all fossil fuels'. What's next for the fight to keep them in the ground?

The latest UN climate change summit (COP27) concluded, once again, with a tussle over the place of fossil fuels in the global economy.

Newsroom.co.nz

Circular economy: Breaking our ‘take-make-waste’ model

If every country used as many resources every year as NZ does, we’d need three planets; our throwaway economy is a big cause of our emissions. We have to do things differently.

StockNews.com

The 2 Best Stocks to Buy for Early Retirement

Despite macro headwinds, U.S. retail sales increased month-over-month in October. With the economy showing resilience, the odds of the economy avoiding a deep recession are gradually rising. Although there’s a surge in optimism, caution remains. Therefore, investors looking for early retirement might buy quality dividend-paying stocks Microsoft (MSFT) and Cigna…

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Evening Standard

The Standard View: Labour shortages (and Brexit) are holding our economy back

You can’t get the service these days because businesses are struggling to recruit the staff. Across London and a wide range of sectors that are vital to our economy — particularly those that relied heavily on EU workers — vacancy rates are sky-high.

Evening Standard

Winning the World Cup could save the country from a recession

Does hosting a World Cup boost your economy?

Axios

Railroad strike looms over holidays after major union rejects deal

SMART Transportation Division, the union that represents rail conductors, voted against the deal.

Axios

Biden's soft landing message

The Biden administration has developed a mantra when talking about the economy.

Reuters

Dream homes turned gas-guzzlers, Hungary's 'Kadar cubes' losing allure

Facing a surge in heating costs, Andrea Varga is desperately trying to sell the communist-era house she can no longer afford, but with Hungary's economy slowing and many facing the same predicament, there has been little interest.

Evening Standard

Conservatives’ popularity crashes to its lowest point in 15 years

The Conservatives’ popularity has crashed to its lowest point in 15 years as it battles a major lack of trust over its management of the economy, a new poll reveals.

Evening Standard

Virgin Money staff get 10% pay rise as profits jump

VIRGIN Money presented a surprisingly healthy picture of the UK economy today, with chief executive David Duffy insisting the future may not be as dark as City experts predicts.

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