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The Latest Breaking News from Economy

Saudi Arabia Rejects Dictates, Attempts for Altering Kingdom’s Global Economy Protection Goals

Saudi Arabia, on Thursday, voiced total rejection of the statements issued towards the Kingdom following the OPEC+ decision to cut oil production. An official at the Foreign Ministry stated that the Saudi government has viewed the statements issued about the Kingdom following the OPEC+ decision announced on October 5, 2022.…

Asharq Al-Awsat

COUNTERPOINT: Gun violence is an important issue, but not the most important

Less than a month before the 2022 midterm elections, most polls show that the No. 1 issue for likely voters is, as Democratic strategist James Carville famously quipped 30 years ago, “the economy, stupid.”

Tribune News Service

Commentary: The labor market’s double-edged sword

The unemployment rate now matches the pre-pandemic, half-century low of 3.5 percent. But with 2.8 million missing workers, low unemployment is both a blessing and a curse.

Tribune News Service

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India’s economy faces significant external headwinds, IMF says

NEW DELHI: India’s economy faces notable risks from global developments, including aggressive central bank actions and the fallout of the prolonged war in Ukraine, according to the International Monetary Fund.

The Times of India

Indian official dismisses report trade deal with UK on ‘verge of collapse’ over Suella Braverman comments

Truss led the opening rounds of trade talks in 2021 which was considered a shot in the arm for UK’s post-Brexit economy

The Independent UK

Why semiconductors are central to world economy, geopolitics

The Chinese Communist Party Congress opens in Beijing on October 16, a week after Washington imposed tight restrictions on exports of invaluable semiconductor technology to China in a bid to stop it from surpassing the US economically and militarily. As semiconductors emerge as a key battleground, FRANCE 24 spoke to…

France 24

America’s love for cars continues – will gas prices decide the midterms?

Economy in focus: The US loves its cars – but soaring prices are a big issue. In the midwest, Adam Gabbatt asks voters what they think

The Guardian - US

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Why Companies Decide To Leave or Stay in China

A recent survey of more than 500 Taiwanese companies shows a quarter have moved a part of their production or sourcing out of China.

The News Lens

Believe in Scotland is now engine of the Yes campaign

BELIEVE in Scotland is best known for providing the independence movement with in-depth articles, eye-catching leaflets and widespread billboard…

The National (Scotland)

Budgets 'best buffer' to global recession

Headwinds facing the global economy require a coordinated international response, Jim Chalmers has told at a meeting of central bank and economic officials.

AAP

Piper tables port bill, slams 'straitjacket' on Hunter economy

Mr Piper has tabled legislation seeking to scrap controversial penalties on Newcastle developing a large-scale container terminal.

Newcastle Herald

Meeting gives China's Xi a chance to tighten hold on economy

A meeting of the ruling Communist Party to install leaders gives President Xi Jinping, China’s most influential figure in decades, a chance to stack the ranks with allies who share his vision of intensifying pervasive control over entrepreneurs and technology development

The Independent UK

Yellen warns of 'geopolitical coercion' by Russia, China

U.S. Treasury Secretary Janet Yellen on Wednesday said the global economy was facing "significant headwinds" and the United States was working to shore up its supply chains and guard against "geopolitical coercion" by Russia, China and others.

Reuters

Consumer confidence continues to improve

Consumer confidence picked up for a fourth straight month in September, hitting an eight-month high, helped by a reduction in the Covid-19 infection rate and improved business activity following the relaxation of pandemic-era restrictions.

Bangkok Post

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ABC News

Treasurer Jim Chalmers warns of US recession prior to meeting with G20 counterparts

Treasurer Jim Chalmers acknowledges the "deteriorating global economy and rising inflation" would put pressure on his upcoming budget, ruling out changes to legislated stage 3 tax cuts.

Tribune News Service

War-torn Ukraine needs at least $3 billion a month in 2023, IMF says

Ukraine will need at least $3 billion a month next year to finance its wartime economy, which means allies will have to step up with more support, the head of the International Monetary Fund said.

Daily Mirror

Why Liz Truss' pledge not to cut public spending is not all that it seems

Critics believe the Prime Minister has three options: U-turn and cut spending, U-turn on tax cuts, or keep going and drive the economy off a cliff. Some of the answers may lie in the detail

WEKU

Gloom oozes from energy forecasts that show oil demand dropping, heating bills rising

The weakening economy around the world will drive down demand for oil in the coming months, according to OPEC, while the U.S. government warns that households will pay more for heat this winter.

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Benzinga

The Fed Is Skating To Where The Puck Was: Comparisons To Volcker's 1980s Inflation Are 'Conceptually Wrong,' Says This Economist

Unbeknownst to many, the gift for the 43rd anniversary of marriage is entertainment; to stretch it further, this fall marks the 43rd anniversary of a pivotal event in the history of the Federal Reserve and the U.S. economy.

Evening Standard

Lack of menopause awareness and support ‘costing London’s economy over £2billion’

A report given to MPs on Wednesday called for free menopause check-ups for women turning 45

The Independent UK

Yellen says U.S. economy 'resilient' amid global headwinds

U_S_ Treasury Secretary Janet Yellen is seeking to project confidence in the U_S_ financial outlook while pledging vigilance in responding to “risks on the horizon.”

Reuters

Ukraine's Zelenskiy appeals for $55 billion to cover budget gap and reconstruction

Ukrainian President Volodymyr Zelenskiy on Wednesday appealed to international donors to increase their financial support, saying more money was needed to rebuild schools and homes destroyed by months of Russian bombardment.

The Independent UK

Biden hit on economy as more say finances poor: AP-NORC poll

More U.S. adults are now feeling financially vulnerable amid high inflation

The Guardian - AU

As IMF alarm bells ring, Australia is stuck between inflation and a looming global recession

Limp growth would normally require fiscal stimulus, yet concerns about inflation mean we’re unlikely to see a big-spending budget

The Independent UK

Rough times ahead: Hurricane Ian batters SW Florida economy

Hurricane Ian might have come and gone, but it has done long-term damage to the small businesses of a region heavily dependent on tourists and seasonal residents

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