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The Latest Breaking News from Economy

UK in ‘prolonged recession’ as Bank of England hikes interest rates to 3%, knocking pound – as it happened

Bank of England has made its biggest interest rate rise in three decades, but signals rates won’t rise as high as markets had expected

The Guardian - UK

Republicans and Democrats are spending billions on ads – with very different messages

While Democrats focus on abortion, Republicans are talking about inflation, crime and taxes

The Guardian - US

A Practical Way to Make Sense of All the Shocks Hammering the Global Economy

Brexit, the US-China trade war, Russia’s invasion of Ukraine—more such geopolitical surprises will continue the economic upheaval.

Businessweek

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Powell: Rate hikes may slow, but inflation fight hardly over

Federal Reserve Chair Jerome Powell sought to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections

The Independent UK

Bolsonaro calls on his supporters to lift Brazil roadblocks

Brazil’s President Jair Bolsonaro called on his protesting supporters to dismantle hundreds of road blocks, saying these harm the economy and aren’t a legitimate form of demonstrating.

Tribune News Service

Bypass from Central regions to South due in 2025, says dept

The Department of Highways (DoH) has unveiled the progress made so far on its plan to upgrade the Cha-am Road or Highway No.37 bypass with a budget of 7 billion baht to ease congestion and boost the economy and tourism.

Bangkok Post

California on track to become the fourth largest economy in the world

Golden State poised to pass Germany and sit behind only US, China and Japan

The Independent UK

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Bank of Thailand still upbeat despite headwinds

The Thai economy will face more challenges next year amid global uncertainties, but its recovery remains on track, according to a Bank of Thailand (BoT) executive.

Bangkok Post

Malian minister says Russia will ship food and fuel to Mali in coming weeks

Mali expects Russia to send shipments of fuel, fertiliser and food worth around $100 million to Mali in the coming weeks, the West African country's economy minister, Alousseini Sanou, said on Wednesday.

Reuters

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

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

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

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

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Daily Mirror

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

The Independent UK

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 National (Scotland)

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.

Chicago Sun-Times

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.

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The Independent UK

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 Guardian - 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

Los Angeles Times

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.

Tribune News Service

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.

Asharq Al-Awsat

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…

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

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