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The Latest Breaking News from Economy

Texas’ worst drought in a decade could rival 2011′s economic losses

Texas is experiencing its worst drought since 2011, with a blistering summer and prolonged dry conditions expected to deal a similar blow to the state’s economy, according to the Texas Comptroller’s office.

Tribune News Service

BLA provides uncertain insurance projection

Bangkok Life Assurance (BLA) is on track to achieve total premiums of 35.8 billion baht this year, on par with the tally in 2021, but the outlook for next year remains uncertain given the projection of slow growth for the global economy.

Bangkok Post

Inflation is ‘basically over’ and the Fed is ‘making a terrible mistake’ by continuing to raise interest rates, Wharton professor Jeremy Siegel says

Jeremy Siegel warned that inflation was going to become a problem in 2020. Now, he says the Fed has done too much to fight it, and is set to cause a recession.

Fortune

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2 Monster Growth Stocks to Buy Now

The Fed has indicated that it will keep raising interest rates through next year. However, despite the economic uncertainties, the revival of the U.S. economy in the second half of this year has made experts hopeful of a mild recession ahead. Hence, it could be wise to invest in monster-growth…

StockNews.com

Silicon Valley’s economy trampled Austin, Seattle by billions of dollars during COVID’s first two years

Silicon Valley as an economic juggernaut has reigned supreme throughout the pandemic compared to its rivals in the Sunbelt and Pacific Northwest, newly released numbers show.

Tribune News Service

Auto review: Beyond fuel economy, the 2023 Toyota Prius is actually fun-to-drive

The 2022 Toyota Prius has the design presence of an alien life form, with an interior ambiance that never lets you forget that weight is the enemy, as every unnecessary gram of weight has been eliminated. It’s as if the vehicle was engineered of balsa wood and crepe paper. It…

Tribune News Service

How Amazon put Ukraine’s ‘government in a box’ — and saved its economy from Russia

Since Februrary, Amazon has been playing Santa Claus to the Ukraine, delivering planeloads of goods, including blankets, hygiene kits, diapers, food, and toys, for the war-torn nation and refugees in Poland and other parts of Europe.

Los Angeles Times

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Interest rates: why your mortgage payments are going up but your savings aren't – and how better monetary policy could help

The Bank of England, the UK’s central bank, has raised its main interest rate by 0.5% to 3.5%. This is the ninth in a series of increases over the past year that have had a ripple effect across the economy.

The Conversation

John Swinney hits back at claims Scotland could become 'less attractive' to live in after tax rises

The Deputy First Minister responded to claims by the Scottish Chambers of Commerce who said tax hikes taxes for the wealthiest across the country would discourage investment into the economy.

Daily Record

Commentary: China is pushing a pacifist Japan into building up its military capabilities

Japan isn’t known for being an aggressive country in the world of foreign affairs. Successive Japanese governments have taken pains to emphasize their peacelike nature, a direct consequence of Tokyo finding itself on the losing side of the most horrific war of the 20th century. Japan’s constitution renounces the use…

Chicago Tribune

Moroccan-American Commitment to Bolster Trade Cooperation

Moroccan Prime Minister Aziz Akhannouch held talks in Washington with Ambassador Katherine Tai, US Trade Representative. The meeting, which took place in the presence of the Minister of Economy and Finance, Nadia Fettah Alaoui, comes within the framework of the US-Africa Leaders Summit, which will be held on December 13-15…

Asharq Al-Awsat

The three major plans which will shape the future of Manchester

The move is expected to boost the city's economy and create new green spaces

Manchester Evening News

Work begins on innovative eco learning space

The new hub at West Lothian College will help the move towards a net zero carbon economy in West Lothian

Daily Record

China-HK border will ‘fully reopen’ next month

The border between Hong Kong and mainland China is set to “fully reopen” early next month for the first time in three years, the South China Morning Post has reported, as the Communist Party rolls back Covid restrictions to bolster its faltering economy.

Bangkok Post

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The Guardian - UK

These strikes are telling us something: Britain’s era of low wages may be over

Higher salaries would boost the UK economy and bring us in line with many other rich countries, says Guardian columnist Andy Beckett

Bangkok Post

Economy continues to recover but faces more challenges

Thailand's economy continues to recover, but faces more challenges with policy priorities to ensure a continued rebound, Bank of Thailand Governor Sethaput Suthiwartnarueput said on Friday.

The Independent UK

US recession a growing fear as Fed plans to keep rates high

After scaling 40-year highs, inflation in the United States has been slowly easing since summer

Tribune News Service

California approves sweeping climate change strategy that’s short on details

SACRAMENTO, Calif. — California’s air quality regulators approved a much-disputed blueprint Thursday for meeting the state’s ambitious greenhouse gas reduction goals, focused on transitioning away from fossil fuels and toward widespread electrification of the economy.

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Bangkok Post

Cabinet approves digital catalogue, big data institute

The cabinet has approved setting up the Thailand Digital Products and Services Catalogue, which contains a pool of qualified digital offerings available for state procurement as part of a push to support local digital businesses.

Daily Mirror

England's World Cup run boosts the country's economy by an eye-watering £2BILLION

England's run to the quarter finals of the World Cup in Qatar has earned more than £2 billion for the British economy, with Brits spending more than £1billion on food and drink alone

Tribune News Service

US jobless claims unexpectedly drop to lowest since September

Applications for US unemployment benefits fell last week to the lowest since September, another sign of resiliency in the labor market amid a weakening economy.

Liverpool Echo

124 homes and playground proposed on site near riverside park

Developers say the new homes could contribute £3.3m to the local economy every year as well as £2.4m in council tax over ten years

StockNews.com

2 Stocks to Buy Now if You Think the Economy's About to Take a Hit

Despite rising recessionary concerns, consumers have been steadfast in their spending, supporting the consumer goods industry. Moreover, as this sector is considered a good recession hedge, investing in quality stocks, Procter & Gamble (PG) and Shiseido Company (SSDOY) could be wise. Keep reading….

The Independent UK

Scotland in recession and household incomes set to decline – fiscal commission

The country’s official forecasters said the economy was already in a recession and may not return to pre-recession levels until 2025.

The Conversation

Fungal toxins are widespread in European wheat – threatening human health and the economy

Wheat provides 19% of the calories and 21% of the protein consumed by humans globally. But a fungal disease called fusarium head blight (FHB), which can infect wheat crops and contaminate the grain with toxins, is on the rise.

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