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The Latest Breaking News from Economy

Ulster Bank PMI: Northern Ireland economy contracts further in September across the board

Inflationary pressures cited as main drag on business activity, even before market gyrations following Chancellor's mini budget

Birmingham Post

Cutting oil output risks global economy, warns US Treasury secretary

Janet Yellen’s comments come as figures show business activity declining across most UK regions

The Guardian - UK

Huawei sets its sights on regional digital transformation

Global tech powerhouse Huawei Technologies is concentrating on digital infrastructure, sustainable development and a strong ecosystem as part of its strategies to deepen cooperation with Asia-Pacific nations, including Thailand, in boosting its digital power.

Bangkok Post

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Bumpy road to recovery

Even as Thailand continues on its path to economic recovery in the fourth quarter, buoyed by tourism and domestic consumption, businesses are still unnerved by pressing challenges, including high inflation, a weaker baht, surging energy prices and flooding, which could hamper the rebound.

Bangkok Post

Taiwan's president to unveil economic policies, reaffirm democratic ties in National Day speech

Taiwan President Tsai Ing-wen will pledge to strengthen the island’s economy and deepen ties with democratic allies in a National Day speech on Monday, amid the risk of a global recession and after unprecedented military drills by China.

Tribune News Service

Austrian president thwarts populist challengers for new term

Austrians handed President Alexander Van der Bellen a second term on Sunday, rejecting populist challengers in the nation’s first election since coronavirus lockdowns and the war in Ukraine upended its economy.

Tribune News Service

Why India Inc. is not taking a Hanuman leap

The one lever that the government could have pulled as it watched private investment decline was to step up public investment

The Hindu

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Liz Truss’s economic plans are more anti-growth than those of her critics

The Guardian - UK

Biden preaches patience to voters spooked by economic tumult

When it comes to reassuring Americans about an economy that's an election-year challenge to his party, President Joe Biden is telling the country to hold on

The Independent UK

Central banks stay the course as markets grow increasingly nervous

Oil prices surge 13 percent after dramatic supply cut by oil producing nations, putting new pressure on inflation and interest rates.

Newsroom.co.nz

Spice Girl Mel C hits out at Tories' 'flipping disgrace' plans for the economy

'I can't get up on my high horse and start saying things, but I think any person with any morals can see what's going on isn't right', said the former Spice Girls star

Daily Mirror

India will stand out with 7% growth rate in FY23 amid global gloom, says EAC-PM member Sanyal

New Delhi Amid fears of the world slipping into recession, India will perhaps emerge as the stronges

The Hindu

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

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WEKU

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.

ABC News

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.

Daily Mirror

'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

Tribune News Service

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.

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The Guardian - AU

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

Wales Online

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

Leeds Live

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

The Guardian - US

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

Evening Standard

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

Bangkok Post

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.

Reuters

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.

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