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The Latest Breaking News from Economy

North East businesses weighed down by inflation and fears of recession

The NatWest North East Business Activity Index points to third consecutive contraction in region's private sector

Birmingham Post

France loses economic grip on West Africa

France is under fire in parts of West Africa for its alleged "stranglehold" on the continent's economy. Anti-French sentiment in Mali has spread to Burkina Faso where opinion leaders accuse the former colonial power of profiteering. In fact, the French economic presence is in decline.

Radio France Internationale

When your seatmate on the plane talks about the Fed, you know things aren't right

The woman next to me, who described herself as knowing "zero" about the economy, asked whether I thought the Federal Reserve would continue raising interest rates. I felt an acute sense of dread.

WEKU

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NSW Labor vows to protect gig economy workers if elected in March following deaths in 2020

A portable leave entitlement scheme is among the promised changes announced by the Opposition ahead of the March state election in a bid to "modernise" industrial relations in NSW.

ABC News

'Tories can't ignore the crisis they created in our NHS - basic services are suffering'

Shadow Mental Health Minister Rosena Allin-Khan says we need a growing economy to pay for healthcare – but to grow the economy we need to start getting our public services back on track

Daily Mirror

China says Biden’s new chip technology curbs will harm recovery

China criticized expanded U.S. restrictions on its access to semiconductor technology, saying they’ll harm supply chains and the world economy.

Tribune News Service

Four bins good: is Victoria’s waste strategy the future for recycling?

The four-bin approach is common in the world’s top recycling countries, but experts say a lot more is needed to create a genuinely circular economy

The Guardian - AU

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Eurovision 2023 in Liverpool expected to give host city £30m boost

Organisers said the city will be covered in "sequins and glitter" to deliver a Eurovision Song Contest with a message of peace

Wales Online

Restaurant owner slams Otley and says it's 'dead after 6pm'

He wants to revive the town's evening economy and bring more people in on a night-time

Leeds Live

Don’t be fooled: policymakers are quietly invoking austerity by other names

Framing monetary policy as a war effort has been part of the playbook for instituting austerity policies for over a century

The Guardian - US

RMT chief Mick Lynch hits back at Liz Truss following her attack on unions

‘Everyone believes in economic growth, otherwise the economy doesn’t move forward. But what they mean by economic growth is the rich keep getting richer and working people continue to have their conditions diluted in the name of profit,’ Mick Lynch said

Evening Standard

China's yuan becomes most traded foreign currency on Russian exchange

HONG KONG: The yuan surpassed the US dollar for the first time this week to become the most traded foreign currency on the Moscow exchange as tensions with the West push the Russian economy closer to China.

Bangkok Post

Ukraine seeks to rebuild economy with defiant small businesses

Victoriia Maslova abandoned her herbal cosmetics factory in the Ukrainian town of Bucha on the first day of Russia's invasion of the country, fleeing to Poland with her mother and three younger brothers when rockets began hitting a nearby airport.

Reuters

OPEC Head: Uncertainty Over Demand, Global Economy are the Reasons for the Cut, Not Politics

The reduction in oil production targets more spare capacity in case of any global emergency, OPEC's Secretary-General Haitham al-Ghais has announced. The 13 members of the Organization of the Petroleum Exporting Countries (OPEC) and 11 of its allies led by Russia, known as OPEC+, agreed on Wednesday to lower their…

Asharq Al-Awsat

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StockNews.com

Where is the Bottom for this Bear Market?

Bounces will pop up here and there as they did this past week...but don’t think for a second that this bear market is over because the Fed is not yet done with their mission to tamp down the flames of recession. When all is said and done we will have…

Bangkok Post

Asian shares fall as rate fears return

RECAP: Asian markets fell yesterday as optimism that had fuelled earlier buying gave way to nervousness ahead of a US jobs report that could determine Federal Reserve rate hike plans.

Bangkok Post

Thaicom prevails in new ruling on satellite dispute

Tribunal arbitrators have unanimously ruled that the Thaicom 7 and 8 satellites are not part of an agreement with the Digital Economy and Society (DES) Ministry, thus freeing the satellite operator Thaicom from the ministry's obligations.

The Independent UK

Where did Liz Truss go wrong? Join our expert online panel discussion on UK politics

Sign up to our free virtual panel event discussing the latest twists and turns surrounding the UK’s economy and political landscape

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Reuters

IMF board approves $1.3 billion in emergency funding for Ukraine

The International Monetary Fund said on Friday its executive board approved Ukraine's request for $1.3 billion in additional emergency funding to help sustain its economy as it battles Russia's invasion.

ABC News

The threat of foot-and-mouth disease entering Australia sparked panic. Then what happened?

It was the disease threat that was going to up-end Australia and cost the economy billions. So what happened next with foot-and-mouth disease?

Tribune News Service

Survey: Odds of a US recession by mid-2024 now hit 65%

The U.S. economy’s odds of avoiding a recession are narrowing — and quickly.

Daily Mirror

'When loo rolls seem like luxury items, we know our economy has gone down the pan'

Things are bad when Greggs add extra pennies to their pastries and I start to question whether I can afford my favourite M&S rhubarb jam at £2.50 a jar

The Independent UK

Nigeria's Buhari proposes record $47.3B budget for 2023

Nigerian President Muhammadu Buhari is making a big bet to revive the West African nation’s economy and end its security woes with a record 20.5 trillion naira ($47.3 billion) proposed expenditure plan presented lawmakers in the capital city of Abuja on Friday

Benzinga

'Begin Preparing For A Recession': 8 Experts React To Jobs Report, Stock Market Sell-Off

The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower Friday after the Labor Department reported strong U.S. jobs market numbers from September.

The Guardian - UK

OBR forecasts likely to show £60bn-£70bn hole after Kwarteng’s mini-budget

Predictions handed to chancellor expected to paint gloomy picture for UK economy amid sweeping tax cuts

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