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The Latest Breaking News from Economy

It’s Yom Kippur — so here are my sincere promises to Her Upstairs

You’ve probably noticed quite a lot’s been going on since my last column (it was roughly a hundred years ago, back in early September): Liz Truss became PM and the Queen died, there have been natural disasters and ongoing wars and it seems like our economy’s dissolving like an overdunked…

Evening Standard

Nepal coalition to aim for growth if returned to power, finance minister says

Nepal's ruling coalition will provide incentives for exporters and lift import curbs as part of efforts to put the economy on a higher growth trajectory if it is returned to power in a general election next month, the finance minister said.

Reuters

Kwarteng’s tax U-turn was inevitable – and he has already done damage

Chancellor’s reversal shattered his reputation and did unnecessary harm to an already weak UK economy

The Guardian - UK

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All the times Truss and Kwarteng said they wouldn't U-turn on tax cut as credibility shot

We've rounded up 16 times in just over a week that Liz Truss and Kwasi Kwarteng beat the drum for their 45p Income Tax rate cut for the rich

Daily Mirror

Nicola Sturgeon accuses Tories of 'utter ineptitude' after Liz Truss u-turn on top tax rate

The U-turn was confirmed at 8am despite Liz Truss declaring yesterday she would not change her party's controversial economic policies.

Daily Record

Kenya’s new finance minister has good credentials but he can't work miracles

President William Ruto has nominated Njuguna Ndung'u to head Kenya’s National Treasury. A Central Bank of Kenya governor for eight years between 2007 and 2015, Ndung'u is also an accomplished researcher and a University of Nairobi academic. He has extensive expertise in macroeconomics (inflation, economic growth, national income and unemployment)…

The Conversation

Jacob Rees-Mogg to tear up workers’ rights in smaller firms to make economy ‘dynamic’

Threshold for exemption from regulations lifted from 50 to 500 workers – and to include EU ‘retained law’

The Independent UK

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₹40,000 crore Durga Puja in West Bengal creates 3 lakh jobs, says Stakeholders

With more than 40,000 community pujas across the state, the festival creates a scurry of economic activities for three-four months every year, they said

The Hindu

Tesla’s Logistical Challenges Overshadow Record Deliveries

Tesla Inc (TSLA.O) on Sunday announced lower-than-expected electric vehicle deliveries in the third quarter, as logistical challenges overshadowed its record deliveries. The top electric car maker said "it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost," but some analysts were also concerned about demand…

Asharq Al-Awsat

Make money by renting out your stuff: from clothes to cars

From cameras to electric chargers, or using your time to pet-sit, you can bring in extra income

The Guardian - UK

Scots must feel we can do better than Tories’ economic shambles

It’s hard to find any comparisons of a fiscal statement having such a significant impact on the wider economy in such a short space of time.

Daily Record

US economy dodges harsher hit on inflation from Hurricane Ian

Hurricane Ian has left a path of destruction behind, destroying countless homes, ruining citrus crops and risking fragile supply chains, but the storm’s skirting of a key U.S. fertilizer-production area in Florida means the broader U.S. economy was spared from the worst.

Tribune News Service

APEC CEO Summit 2022: Transition to renewal economic perspectives for Asia Pacific inclusive growth

Economic resilience amid untamed inflation and rising global interest rates, along with high energy prices, are no longer today’s challenges for countries around the world to overcome.

Bangkok Post

Understanding the Durga Puja economy

Brisker Puja sales may not implicate a better economic climate in West Bengal

The Hindu

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Newsroom.co.nz

Former Ports chair speaks out: Automation review 'fundamentally flawed'

Responding to a critical review, Liz Coutts says big egos have derailed a port safety and efficiency project that would have helped the NZ economy get through this supply crisis.

Asharq Al-Awsat

Israeli Leader Welcomes US Plan for Sea Border with Lebanon

Israel's prime minister on Sunday welcomed a US-brokered deal for setting the maritime border with Lebanon, saying the plan for resolving a long-running dispute between the neighboring countries would lift Israel's economy and boost regional security. Prime Minister Yair Lapid said the proposal was delivered over the weekend to both…

The Guardian - UK

Truss says she should have ‘laid ground better’ but stands by mini-budget

PM refuses to rule out public spending cuts and real-terms drop in benefits to pay for fiscal plans

The Independent UK

Israeli leader welcomes US plan for sea border with Lebanon

Israel’s prime minister has welcomed a U.S. proposal for setting the maritime border with Lebanon, saying the American plan for resolving a long-running dispute between the neighboring countries would lift Israel’s economy and boost regional security

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Reuters

Moderate Bosniak candidate leads in race for presidency seat

Moderate Bosniak candidate Denis Becirevic is leading in the run-up for the seat on Bosnia's tripartite inter-ethnic presidency, preliminary results based on a partial vote count showed on Monday.

The National (Scotland)

How the Tories wrecked the economy in seven days

IT took Liz Truss’s Government just under a month to see the value of the pound drop to historic lows, the Bank of England being forced to step in…

Daily Mirror

Liz Truss defends giving 2,500 millionaires £1bn tax cut amid cost of living crisis

Prime Minister Liz Truss said she believes in 'making it easier for our wealth creators, doers and makers to get things done', adding that Britain's economy 'needs a reset'

The Guardian - UK

Labour will not waver from putting the UK economy on secure ground

The disastrous Conservative mini-budget has left the country in tatters. This government can no longer be trusted, says shadow chancellor Rachel Reeves

Daily Mirror

Tory plotters target 70 MPs to oust Liz Truss over fears she will collapse economy

Conservative Party members are speaking to up to 70 MPs in a bid to topple their new leader and Prime Minister Liz Truss amid mounting fears she will tank the UK economy

StockNews.com

Why This Bear Market Is Not Even Close to Being Done…

For much of the last decade, the Fed was desperate to invigorate a stagnant labor market, especially from a wage perspective. To this end, it added trillions in liquidity to the global economy which had secondary effects of bubbles in all sorts of assets. Yet, the Fed was mostly unsuccessful…

Daily Mirror

'Kwasi Kwarteng and Liz Truss destroyed a major Western economy in just three weeks'

Mark Steel says the new Chancellor Kwasi Kwarteng has only been in his job three weeks, and already he's laughed during the Queen's funeral and destroyed a major Western economy

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