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The Latest Breaking News from Economy

Liz Truss and Kwasi Kwarteng promise to work ‘closely’ with OBR after meeting amid market turmoil

The Prime Minister and Chancellor will “work closely” with the Office for Budget Responsibility in the coming weeks, the Treasury said

Evening Standard

Air India halves discount on basic fares for senior citizens, students

Air India earlier was offering 50% discount on select booking classes in economy cabins of its aircraft to these two categories of travellers

The Hindu

Return of the Deni Ute Muster to drive millions of dollars into local economy

Several world record attempts are on the bill this year, including a tilt at the muster's own record of the most utes in one place and a new attempt for the biggest bogan bingo.

ABC News

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Fewer jobs advertised as employers ‘worry about economy’

Figure currently at 1.45 million adverts

Wales Online

South Korea’s factory output falls in warning for global economy

Asia’s fourth-largest economy sees industrial output shrink a worse-than-expected 1.8 percent in August.

Al Jazeera

Spartan race puts Phuket in limelight

Phuket will host the Spartan Apac Championship 2022 in November, a gruelling series of races that is expected to attract 5,000 runners and generate 1 billion baht for the local economy.

Bangkok Post

Afghanistan's money is crumbling to pieces, just like its economy

KABUL, Afghanistan — Remember cash? These days, when a wave of a phone or credit card gets you a cup of coffee or more, it's easy to forget what actual bills look like — and the abuse they receive in an average five-year life span.

Los Angeles Times

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Hunter's hydrogen window won't last

Regions like the Hunter have no time to lose if they are to realise their competitive advantage in the emerging hydrogen economy, the head of hydrogen at global management consultancy McKinsey has cautioned.

Newcastle Herald

DES Ministry demand disrupts satellite orbital slot auction

The second attempt by the telecom regulator to hold a satellite orbital slot auction looks set to face a major hurdle as the Digital Economy and Society (DES) Ministry demands reservation of some satellite capacity from the winning bidders for state use without charges.

Bangkok Post

Kwasi Kwarteng appeals for Tory unity as poll gives Labour 33-point lead

Worries among Tory MPs that the fallout from the mini-Budget could hurt them at the ballot box were dramatically underlined by the YouGov poll

Evening Standard

Liz Truss and Kwasi Kwarteng double down on mini-budget as Chancellor visits Darlington

Liz Truss and Kwasi Kwarteng have insisted their £45bn package of tax cuts is the "right plan" despite chaos on financial markets, and fears of rocketing mortgage bills

Chronicle Live

What does government support for fossil fuel subsidies cost our economy and environment?

Experts say government subsidies for private companies sustain the environmentally unsustainable, and lead to inequality and poor business practices.

ABC News

How do we know when a recession has begun? Looks for these signs

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

The Independent UK

Bikes are everywhere in Kabul since the Taliban takeover. But who's not cycling? Women

As the economy unravels, "everyone is getting a bike," says one young resident. It's the cheapest way to get around. But the Taliban's conservative culture means women cyclists are not welcome.

WEKU

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The Independent UK

South Africa's Ramaphosa denies money-laundering allegations

South African President Cyril Ramaphosa has denied allegations of money laundering while being questioned by lawmakers over a scandal that threatens his position and the direction of Africa’s most developed economy

France 24

‘Severe economic slowdown’ awaits Europe as energy crunch bites

The Organisation for Economic Co-operation and Development (OECD) published a gloomy economic forecast for 2023 on September 26 – suggesting that Europe faces a very difficult economic climate if the current energy crisis worsens, with winter temperatures likely to be a decisive factor.

The Independent UK

OLD EXPLAINER: How do we know when a recession has begun?

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

The Independent UK

Truss: I want to work with Nicola Sturgeon

The Prime Minister stood by her economic plans despite a tumultuous week for the UK economy.

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The National (Scotland)

Liz Truss: Tory tax cuts would 'turbocharge' Scottish economy

LIZ Truss has urged the Scottish Government to replicate her government's tax-slashing budget - saying it could help "turbocharge" the…

Newsroom.co.nz

The UK's economic turmoil doesn't have to be ours

Lack of coordination between monetary and fiscal policy is hurting the UK economy and threatening a global currency crisis. What might that mean for NZ?

Wales Online

Green Man describes its plans for the £4.25m farm bought by the Welsh Government

Fiona Stewart said an expansion of Green Man would add a further £13m into the economy

The Independent UK

Labour more trusted than Conservatives on the economy – poll

Ipsos surveyed 1,000 adults after Kwasi Kwarteng’s mini-budget on Friday.

The Conversation

How bonds work and why everyone is talking about them right now: a finance expert explains

The Bank of England is buying bonds again. Just as it was about to start selling the debt it had accumulated as part of its last effort to support the economy during the COVID-19 pandemic, the central bank has been forced to announce a new scheme to shore up investor…

Evening Standard

A cost of borrowing crisis is coming

City Voices: UK economy on life support

Reuters

Nationalist divisions dim hopes for change after Bosnia's election

Divisive nationalism has dominated campaigning for Bosnia's presidential and parliamentary elections on Oct. 2, suggesting reformists keen to modernise a dysfunctional economy and improve rule of law have scant chance of winning.

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