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The Latest Breaking News from Economy

Heat Waves Cost Poor Countries the Most, Exacerbating Inequality

Heat waves, intensified by climate change, have cost the global economy trillions of dollars in the last 30 years, a study published Friday found, with poor countries paying the steepest price. And those lopsided economic effects contribute to widening inequalities around the world, according to the research. "The cost of…

Asharq Al-Awsat

Internet economy set to generate $35bn in 2022

Thailand's internet economy is expected to rise 17% year-on-year to US$35 billion in gross merchandise value (GMV) in 2022, driven by e-commerce, eventually reaching $53 billion in 2025, according to the "e-Conomy SEA 2022" report by Google, Temasek and Bain & Company.

Bangkok Post

West Australian tech experts call for more investment from government as state tries to pivot away from resources sector

As Western Australia tries to diversify its economy away from the resources sector, tech experts are calling for more investment from the government to help keep start-ups in the state, despite the pull from overseas.

ABC News

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Climate crisis study finds heatwaves have cost global economy $16tn

Researchers examining data going back to 1990s find global south has borne brunt despite causing least emissions

The Guardian - UK

Councils may be forced to cut essential services to plug £3bn blackhole, union warns

Unison warns Local communities cannot "pay the price for the government’s grotesque mismanagement of the economy" as councils face a record shortfall of £3.19billion

Daily Mirror

Parents want election as they ‘pay the price’ for crashed economy, Starmer says

Labour leader repeats call for voters to have their say – as Independent petition reaches 450,000

The Independent UK

The Fed’s dilemma: how long to ‘keep at it’ on inflation

Amid conflicting economic signals and with midterms looming, the US central bank weighs a critical decision over interest rates

Financial Times

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Mortgage Applications At A Near 30-Year Low - Has The Federal Reserve Gone Too Far?

Almost every day for the last several months, people have been subjected to a steady trickle of bad news about the state of America’s real estate market. Unless you’ve been living under a rock, it’s impossible to avoid talk of the U.S. Federal reserve’s almost yearlong spree of raising interest…

Benzinga

Brexit deal should be renegotiated says director general of British Chambers of Commerce

A renegotiated trade agreement would boost export growth and in turn the UK economy said Shevaun Haviland

Birmingham Post

Here Are 3 Stocks to Buy Under $50 in Q4

Although the stock market has been under pressure this year, many believe bulls will overtake the bears in 2023. Moreover, the U.S. economy’s third-quarter GDP surpassed growth estimates, easing recession fears to some extent. Therefore, this could be the right time to scoop up quality stocks Pfizer (PFE), Ryerson Holding…

StockNews.com

Rishi Sunak – if you’re serious about fixing the British economy, invest in childcare

A cost of childcare crisis is forcing parents – mostly mothers – out of the workplace. Now we’re taking the fight to the streets, says Labour MP Stella Creasy

The Guardian - UK

Tories have ‘crashed the economy’ says Starmer amid calls for election

Labour leader says people already paying the price for government mistakes, with cuts and tax rises ahead

The Guardian - UK

Watch: Rishi Sunak promises ‘fairness at the heart’ of new budget

Rishi Sunak promised to put 'fairness at the heart' of the 'difficult decisions' the Government will be making as he seeks to plug a multi-billion-pound black hole in the nation’s finances. Speaking to broadcasters at Croydon University Hospital, the Prime Minister said: 'I want people to be reassured, we will…

Evening Standard

The Week Ahead: Why keeping politics out of the inflation fight matters

“Just kick ‘em in the rump a little,” the president told the chairman of the Federal Reserve four days before the central bank’s interest rate setting committee was to meet. The American economy was limping along, federal spending was a growing concern, and a war was raging halfway around the…

Miami Herald

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Bangkok Post

Recession fears stalk Europe despite German growth

FRANKFURT: Germany's economy unexpectedly grew in the third quarter, official data showed Friday, but slowing growth in France and Spain added to fears that high inflation and an energy crisis will tip the region into recession.

Asharq Al-Awsat

Rating Agencies Cite ‘Cautious’ Positive Outlook for Lebanon after Maritime Demarcation Deal with Israel

The conclusions of two international credit rating agencies agreed on the initial positive outlook for Lebanon and its economy following its signing of the US-mediated sea border deal with Israel. “The agreement is credit positive for Lebanon because it establishes the necessary geopolitical security conditions for international energy companies to…

The Independent UK

German economy sees unexpected growth in third quarter

The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending

WEKU

Latino voters weigh abortion rights — and the economy — in a key congressional race

Rep. Abigail Spanberger, D-Va., is running for reelection in a newly drawn district against Republican Yesli Vega as the national conversation on abortion plays out, especially with Latino voters.

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The Guardian - US

Democrats on the defensive as economy becomes primary concern over abortion

Polls indicate tide shifting toward Republicans with high inflation rates and gas prices working in their favor

Birmingham Post

Business body urges politicians to reach resolution, quickly

NI Chamber says the economy is at a "tipping point"

The Independent UK

Asian shares mostly lower as Japan preps massive stimulus

Shares are mostly lower in Asia after a mixed session on Wall Street, where tech sector losses offset gains in other parts of the market

Asharq Al-Awsat

FII Forum Session Calls for Transition to Resilient Economy to Face Challenges

The third and final day of the 6th edition of the Future Investment Initiative (FII) forum embarked on its activities with a session titled “Transforming Banking and Investment for the Resilient Economy.” The CEO of Saudi EXIM Bank Group, Saad bin Abdulaziz Al-Khalb, participated in the session, which was held…

Reuters

Ukraine economy to shrink by almost 32% in 2022 - central bank

Ukraine's economy will shrink by almost 32% this year and annual inflation will accelerate to 30%, largely due to the damage done by Russia's invasion, the Ukrainian central bank said on Thursday.

ABC News

In an economy blighted by inflation, Australians like Dimuthu are collateral damage

Dimuthu Peterson is building a home and is trapped between rising rates and rents. The Perth mother feels hopeless in the current economy dogged by inflation.

Bangkok Post

Deputy premier hopeful for 2023

Thailand's economy should not succumb to the global economic slowdown projected for next year, but rather continue its recovery propelled by new infrastructure development and increasing digital know-how among people, says Deputy Prime Minister Supattanapong Punmeechaow.

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