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The Latest Breaking News from Economy

Interest rates anticipated to peak later this month

Global interest rates are projected to reach a ceiling later this month as inflation fears have eased and several central banks are starting to worry about the impact of aggressive monetary policies on the global economy, says Tisco Securities.

Bangkok Post

Risk of global financial crisis spiking

I am writing this article in Tokyo. Judging from my walks around the city during the past week, and despite the fact everyone is wearing face masks, it's like Covid has vanished. Subways and trains are jam-packed and shopping areas are full of people. However, the pandemic has left some…

Bangkok Post

Thailand's digital GDP skyrockets to B2tn in 2021

Thailand's digital GDP reached 2 trillion baht in 2021 after posting year-on-year growth of 14.1%, according to a study by the Office of the National Digital Economy and Society Commission (ONDE).

Bangkok Post

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Logistics giant CH Robinson sees slowing economy ahead as revenue declines on lower shipping rates

C.H. Robinson Worldwide is the latest Fortune 500 company to see signs of a slowing economy.

Tribune News Service

Parts of economy starting to break down due to social care struggles – Labour

Liz Kendall said she fears the Government does not have a serious plan to address the ‘absolute crisis’ in the care workforce.

The Independent UK

Jeremy Hunt privately backed Labour's plan to boost student doctor numbers

The Chancellor is preparing to unveil eye-watering cuts on public spending after the Tories crashed the economy - but a leaked email shows he previously said ministers should pinch Labour's idea to double medical school places

Daily Mirror

Federal Reserve announces fourth straight interest rate hike to combat inflation

Federal Reserve Chairman Jerome Powell warns ‘we still have some ways to go’ on curbing inflation

The Independent UK

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MPs clash over Scottish independence in heated Westminster debate

THE case for Scottish independence has been put forward by MPs during a marathon debate in the House of Commons.

The National (Scotland)

Fed unleashes another big interest rate hike but hints at a pullback

The Fed’s move raised its key short-term rate to a range of 3.75% to 4%, its highest level in 15 years. It was the central bank’s sixth rate hike this year.

Chicago Sun-Times

SNP: UK is a ‘failing state’ and Westminster has been ‘ignoring’ economic crisis

SNP Westminster leader Ian Blackford spoke of the ‘massive act of economic self-harm’ of Brexit during a Commons independence debate.

The Independent UK

The UK economy is about to be thrown into a black hole – by its own government

It fits the definition of madness to propose more austerity. But that, along with higher interest rates, is what’s coming, says Guardian economics editor Larry Elliott

The Guardian - UK

California could soon rise to the world's 4th-largest economy

California has long faced criticism for driving away business and workers, due to high taxes and prices and tough regulations.

Los Angeles Times

US firms add 239,000 jobs, boosted by leisure sector, ADP says

Hiring at U.S. companies rose in October by more than forecast, mainly reflecting a surge in leisure and hospitality and underscoring resilient labor demand despite the Federal Reserve’s efforts to cool the economy.

Tribune News Service

Saudi Arabia Advances 10 Places in Green Future Index 2022

Environmental initiatives and programs, including the Green Saudi Arabia and the Green Middle East initiatives, as well as the carbon circular economy and energy transformations, have contributed to advancing Saudi Arabia’s ranking in the Green Future Index for 2022. Issued by the MIT Technology Review of the Massachusetts Institute of…

Asharq Al-Awsat

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Evening Standard

Maersk warns of ‘dark clouds on the horizon’ as it cuts demand forecast amid growing recession fears

The firm said vacancy rates for warehousing fell to near-historic lows, as businesses scrambled for extra storage space to hold their swelling inventory levels after a drop-off in consumer demand

Birmingham Post

Greater Manchester's night time economy tsar Sacha Lord rules out MP bid after joining Labour

Mr Lord is an mdviser to Mayor Andy Burnham and co-founder of the Parklife Festival and The Warehouse Project

Caixin Global

Investment in China’s New Economy Sectors Shrinks, Caixin Index Shows

The contribution of high value-added industries such as biotechnology to the country’s total economic inputs slipped in October

WEKU

Latino voters look beyond immigration, and hope candidates will, too

While immigration remains a threshold issue for many Latino voters, it is not the only thing they're focused on ahead of the midterms.

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The Guardian - UK

With the global economy on the rocks, quiet quitting is no longer a thing

Endless pieces have been written about slacking off at work. But now it emerges even the poster boy for the idea is back toiling 50 hours a week, writes Arwa Mahdawi

Tribune News Service

Karl W. Smith: Your no-rent paying child is an inflation fighter

It’s generally accepted among economists and investors that the Federal Reserve has an impossible task of getting inflation under control without broad and lasting damage to the economy. It’s time for a reality check. In fact, it’s looking more and more like the central bank may have a far easier…

Los Angeles Times

Commentary: Liz Truss’ downfall won’t end trickle-down economics

With former British Prime Minister Liz Truss’ free-market reforms having severely wounded the British economy, a chorus of pundits have claimed that the end of free-market thought is upon us. Who could at this point be so foolhardy as to claim that simply cutting taxes for the rich — and…

Los Angeles Times

Michael Hiltzik: Republicans keep harping on inflation, but don't have any answers for it

Even if you didn't know from your household accounts that inflation has been running hot this year, your local Republican officeholders and candidates would make sure it wasn't a secret.

The News Lens

Japan Warily Welcomes Back International Travelers

In his parliamentary speech in October, Kishida presented his plan to revive the Japanese economy, including a pledge to increase international tourist spending beyond the pre-pandemic high in 2019.

The Times of India

Acting early would have exerted heavy costs: Shaktikanta Das on RBI missing inflation target

NEW DELHI: RBI governor Shaktikanta Das said on Wednesday that Indian economy is growing steadily, drawing strength from its macroeconomic fundamentals and buffers.

Asharq Al-Awsat

China Imposes Covid Lockdown on Area Around iPhone Factory

Chinese authorities on Wednesday locked down the area surrounding the world's largest iPhone factory belonging to Foxconn after workers fled the facility to avoid a virus outbreak and the resulting restrictions. All people except Covid-prevention volunteers and essential workers "must not leave their residences except to receive Covid tests and…

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