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The Latest Breaking News from Economy

Many Australian businesses will scale back climate action when economy slows, survey finds

The 2022 Climate Check international survey also found support in Australia for a crackdown on ‘greenwashing’

The Guardian - AU

Shanghai eases COVID rules as China’s policy shift expands

Shanghai eased some of its COVID-19 restrictions, joining other top-tier Chinese cities as authorities accelerate a shift toward reopening the economy after thousands of demonstrators took to the streets last weekend to voice their anger at the nation’s stringent policies.

Tribune News Service

Why are so many people leaving the workforce amid a UK cost of living crisis?

Business leaders fear Rishi Sunak is failing to grasp severity of situation and impact on economy

The Guardian - UK

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Rising political star has a plan to fix South Africa’s struggling economy

A senior South African ruling party official who has his sights set on becoming the nation’s next deputy president, and maybe even the top job, says he has a plan to end government prevaricating and fix the struggling economy.

Tribune News Service

Canberra's tourism economy worth $4 billion by 2030: report

Canberra's "brand" and the tourism strategy to support it has been released.

The Canberra Times

UNHCR Chief Calls for Helping Lebanon's Most Vulnerable

The United Nations' refugee agency chief called Saturday for sustained support for Syrian refugees in Lebanon and vulnerable Lebanese citizens, three years after the country's economy began collapsing. "We must stand with Lebanon," UNHCR chief Filippo Grandi said at the end of a three-day visit to Beirut. According to the…

Asharq Al-Awsat

Swati Dhingra of the Bank of England: ‘Are we going to end up deepening the recession?’

In her first interview since joining the monetary policy committee, Britain’s newest interest-rate setter warns inflation is not the biggest threat to the economy – because ‘the slowdown is here’

The Guardian - UK

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Department for Economy knew about Flintridge Resources mine collapse before giving firm new prospecting licence

"You would wonder what countenance is given to objections or health and safety issues - they [DE] just proceed regardless"

Belfast Live

Russia will ‘not accept’ price cap on oil exports, Kremlin warns

The Kremlin on Saturday said it would not accept a price cap on Russian oil agreed by the EU, G7 and Australia. The agreement caps Russian seaborne crude oil at $60 per barrel and is aimed at limiting Moscow’s funds for the Ukraine war. Read FRANCE 24's liveblog below to…

France 24

Zelenskiy says level of price cap on Russia oil isn't serious

The $60 price cap on seaborne Russian oil agreed by Group of Seven nations and Australia is not serious and will do little to deter Russia from waging war in Ukraine, President Volodymyr Zelenskiy said on Saturday.

Reuters

French Companies Eye Investment Opportunities in Saudi Security, Defense

Federation of Saudi Chambers hosted a delegation of 18 French companies specialized in security and defense-related fields to discuss cooperation, partnership, and investment with the Saudi business sector. The Head of the Saudi-French Business Council, Mohammed bin Laden, praised the partnership approach between the council and Business France, the national…

Asharq Al-Awsat

EXPLAINER: Can Ukraine pay for war without wrecking economy?

Ukraine has won victories on the battlefield against Russia but faces a looming challenge on the economic front

The Independent UK

Biden Calls On Senate To Act As The Rail Strike Looms To Daily Economic Damage

The possibility of a $2 billion a day cost to the American economy is on the line as President Joe Biden pushes for a deal

Zenger

2 Dow Stocks You Can Always Buy and Hold Onto

After the Fed Chair's assurance about the eventual rate hike slowdown, the Dow gained substantially and entered a new bull market. Moreover, the U.S. economy seems resilient enough to withstand any potential growth reduction. Therefore, investors could consider buying fundamentally sound Dow stocks Johnson & Johnson (JNJ) and Cisco Systems…

StockNews.com

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The Independent UK

EXPLAINER: 5 key takeaways from the November jobs report

For nearly nine months, the Federal Reserve has relentlessly raised interest rates to try to slow the U.S. job market and bring inflation under control

Tribune News Service

Experts see the Texas economic outlook being stronger in 2023 than other states

Some of Texas' top economic leaders paint a rosy picture for the state heading into 2023, saying it’s on more solid ground than many other areas around the country. But they also warn the state isn’t immune to a recession.

Fortune

'Two steps forward, one step back': Experts weigh in on November’s jobs report and Powell's big inflation challenge

Persistent wage growth and a low unemployment rate may be great for Americans, but they're making the Fed's inflation fight that much more challenging.

The Independent UK

US hiring stays strong, complicating Fed's inflation fight

The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes

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news in one place.

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Al Jazeera

US hiring stays strong in November

US labour market has defied sceptics, adding hundreds of thousands of jobs, month after month despite rising rates.

The Independent UK

Biden signs bill to avert rail strike and says fight for paid sick leave ‘isn’t over’

President touted the “historic” 24 per cent wage increase the deal will provide workers over the next five years

Miami Herald

The Week Ahead: Why ‘isms’ are test for investors and the Federal Reserve

Investing is full of “isms.” Capitalism, optimism and pessimism are the three most common.

The Times of India

Global economy must start bracing for low inflation, says Raghuram Rajan

The global economy could go back to a low inflation regime and central bankers pursuing restrictive monetary polices should keep that in mind, said Raghuram Rajan, a former governor of Reserve Bank of India (RBI).

Bangkok Post

Central bankers fear more volatile inflation

The global economy may be headed for a new era of volatile inflation, making it even more crucial to anchor expectations about where prices are headed, top central bank governors meeting in Bangkok warned on Friday.

Axios

U.S. economy adds 263,000 jobs in November

The figures are the latest signal of a roaring labor market that continues to defy fears of a recession.

The Conversation

How China's response to zero-COVID protests could affect global business

The recent protests in China against the country’s zero-COVID policy have been unprecedented in their scale, intensity and distribution. Protestors numbering in the thousands were reported in dozens of cities. Not since 1989’s Tiananmen Square protests has there been such widespread civil disobedience.

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