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The Latest Breaking News from Economy

Liz Truss and Kwasi Kwarteng facing bid to dock their pay amid economic turmoil

LIZ Truss and Kwasi Kwarteng are facing a parliamentary bid to dock their pay following their “gross mismanagement” of the economy.

The National (Scotland)

A basic income grant for South Africa: more money in poor people's pockets, but at a heavy cost

Analyses of the implications of extending income support measures in South Africa, including a basic income grant, have focused on one of three things: how much it will cost, calculations about how much revenue would need to be raised (but without assessing the ripple effects), and how it might affect…

The Conversation

Tory Party conference latest LIVE: Liz Truss ally accuse fellow MPs of ‘coup’ over tax rebellion

It comes after Kwasi Kwarteng was forced into a humiliating U-turn on the 45p tax rate cut

Evening Standard

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Argentina announces plan to boost tech exports

Argentina on Monday announced measures aimed at boosting technology exports to $10 billion in 2023, as it seeks to support growth of the "knowledge economy".

Reuters

Ukraine ‘must revamp labour laws and step up privatisation to fix economy’

President’s economic adviser says country must speed up reform of industries after Russia’s invasion

The Guardian - UK

Tories seek to shift focus from economy after U-turn humiliation

The Government are turning their attentions to immigration and supporting Ukraine

Wales Online

China’s property crash: ‘a slow-motion financial crisis’

In the first part of a series, the impact of falling house prices is spreading to local government finances and the broader economy

Financial Times

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Douglas Ross has risen to the top of the Tory hit list

Douglas Ross has stood by and watched as the UK's economy has been sent into tailspin, and its time for him go, says Record View

Daily Record

Jim Chalmers says he will make the ‘right decisions’ on stage-three tax cuts

Treasurer says while the government’s policy has not yet changed ‘any responsible government’ would be looking at global economic pressures

The Guardian - AU

Incumbent Legault's center-right CAQ party projected to win majority in Quebec -CBC News

The nationalist Coalition Avenir Quebec (CAQ) is on track to retain power in the mostly French-speaking Canadian province of Quebec, CBC News projected on Monday, after leader Francois Legault campaigned on protecting French and the economy.

Reuters

Putin opponent sent to Russian army despite having no military experience

Municipal deputy Dmitry Baltrukov complained that the war in Ukraine has killed thousands of Russian soldiers and damaged the country's economy

Wales Online

Economy set to expand despite global recession

Thailand is expected to eke out annual economic growth of about 3% over the next two years despite a looming global recession, says Bangkok Bank economist Kobsak Pootrakool.

Bangkok Post

Analysts upbeat on investment outlook

Thailand's reopening would benefit the economy this year and next, spurring the Stock Exchange of Thailand (SET) to reach 1,685 points by year-end, a recent survey has found.

Bangkok Post

Soccer-Informal workers at risk of exploitation in Qatar during World Cup - U.S. official

Workers in Qatar's informal economy are especially at risk of exploitation during this year's soccer World Cup and Doha must strive to prosecute human traffickers and identify their victims, U.S. Under Secretary of State Uzra Zeya told Reuters.

Reuters

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ABC News

Here's what was happening in Australia the last time the cash rate rose this quickly

The rapid increase in interest rates feels all too sudden for borrowers, but it's not the first time this has happened. Here's how events played out almost 30 years ago.

Chronicle Live

'The damage is already done' – Truss and Kwarteng branded 'incompetent' after 45p tax rate U-turn

One North East MP accused the government of having "lost all credibility" after dropping plans to cut the top rate of income tax for the highest earners

Newsroom.co.nz

Liz Truss' failed bid to become a 21st-Century Margaret Thatcher

In 1981 Thatcher took the drastic but successful step of increasing taxes by 2% of GDP to tackle interest rates and inflation. But Truss has just done a reverse-Thatcher, says Oliver Hartwich

The National (Scotland)

Nicola Sturgeon says UK Government must overhaul entire mini-budget after tax cut U-turn

NICOLA Sturgeon has insisted the UK Government must completely overhaul its package of plans to spark growth in the economy.

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The Conversation

Pound recovers but remains at low levels – how to assess the long-term value of sterling

The pound has recovered from a recent record dip after the chancellor’s mini-budget announcement. But it is still at low levels versus many other currencies.

The Conversation

Mini-budget: lessons from the UK's long history of economic crises

It was a mini-budget with a major impact. Shortly after the UK chancellor announced his plans for a “new era” full of tax cuts, there were dramatic falls in the pound, a nervous response from mortgage lenders and an urgent intervention from the Bank of England.

StockNews.com

Keep an Eye on These 2 Upgraded Stocks This Week

Many analysts still see the possibility of the economy avoiding a recession, despite the possibility of further aggressive interest rate hikes. Moreover, consumer confidence surged in September. Therefore, quality stocks Texas Instruments (TXN) and Energy Transfer (ET), which were recently upgraded in our proprietary rating system, could be ideal additions…

The National (Scotland)

Tory public service cuts of £18bn to pile MORE pressure on Scottish budget

FRESH plans for a new wave of Tory austerity will deliver a “hammerblow” to struggling households and put further pressure on Scotland’s…

The Conversation

Why UK final-salary pensions may now be unpayable without state support

When long-dated UK government bonds fell sharply following the consistent criticism of the new economic measures laid out by the UK government, it forced the Bank of England to intervene to prevent an “unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy”.

The National (Scotland)

Patrick Harvie branded a 'ticking time-bomb' by Tory MSP

THE Scottish Greens have hit back at claims their party leader is a “ticking time-bomb” for the Scottish economy.

Nottingham Post

Mobile phone charging tips which could save money on energy bills

The tips could make a difference to your energy usage

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