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The Latest Breaking News from Economy

China growth lags Asia-Pacific for first time in decades as World Bank cuts outlook

East Asia and Pacific annual growth forecasts downgraded from 5% to 3.2% as China’s economy cools, largely due to zero-Covid policy

The Guardian - AU

Tuesday briefing: Three scenarios for the British economy after the pound slumps

In today’s newsletter: The Guardian’s special correspondent Heather Stewart talks us through the best, worst and most likely result of another chaotic day in the money markets

The Guardian - UK

Why is the British pound tanking as the US dollar soars?

Sharp fluctuations of major currencies inject new uncertainty into fraught global economic outlook.

Al Jazeera

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Keir Starmer claims Labour is party of 'sound money' as Tories send the pound plummeting

Starmer will use his conference speech today to drive home the message that the Tories cannot be trusted to run the economy.

Daily Record

World Bank forecasts Thai GDP growth at 3.1% this year

Thailand's economy is expected to grow 3.1% this year, higher than a forecast in June of 2.9%, supported by private consumption and exports, the World Bank said on Tuesday.

Bangkok Post

UK lenders start withdrawing mortgage deals as pound plummets and economy shaky

Virgin Money, Halifax and Skipton Building Society have all withdrawn mortgage products in order to assess the market collapse following the Government's mini-budget last week

Daily Mirror

Starmer takes aim at Tories as Labour buoyed by promising poll

The Labour leader will quote Sir Tony Blair to dub his party the ‘political wing of the British people’.

The Independent UK

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Michael Hiltzik: Painful signs emerge that Fed is moving too far, too fast with aggressive rate increases

We have a term for the intentional infliction of pain on others: cruelty. So what are we to make of the Federal Reserve Board?

Los Angeles Times

Starmer to accuse Truss of ‘losing control’ of economy as he offers ‘fresh start’ for country

Labour leader borrows slogan from Tony Blair as he describes party as ‘political wing of British people’

The Independent UK

Remembering Senegal's Joola disaster, 20 years on

In tonight's edition: It's been 20 years since an overloaded Senegalese passenger ferry sank off the coast of The Gambia, killing almost 1,900 people. Our correspondent reports on the disaster dubbed "Africa's Titanic". Also, a free-falling economy and years of political unrest have taken their toll on Sudanese youth, with…

France 24

Digital services see revenue soar by 37%

Thailand's digital services market is expected to be worth more than the hardware sector by the end of this year, with a value of 690 billion baht by 2024, according to a survey by the Digital Economy Promotion Agency (Depa) and research and technology training provider IMC Institute.

Bangkok Post

South Lanarkshire Council celebrates Scotland's Climate Week 2022

The council is highlighting funds for community groups to tackle climate change.

Daily Record

Sterling hits all-time low: two things can turn this around but neither is straightforward

While most people in the UK were still in bed in the early hours of Monday morning, the pound dived. It fell over 4% during Asia trading to reach its lowest ever level against the dollar of US$1.035, while also hitting €1.079 against the euro. This was an exceptional fall,…

The Conversation

Hungary's commitments to the EU on cutting corruption risks

Hungary's government has submitted anti-corruption legislation to parliament, trying to stave off a suspension of European Union funds at a time when its economy faces a likely recession next year.

Reuters

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Reuters

Many in Bosnia doubt elections will tackle dysfunctional economy

With nationalist rhetoric dominating the campaign for Bosnia's Oct. 2 election, many doubt the vote will usher in leaders who would focus on reforms to tackle a dysfunctional economy and unblock the country's path to European Union membership.

Bangkok Post

Royal inspiration for a sustainable future

Thais who have learned His Majesty King Bhumibol Adulyadej the Great’s Sufficiency Economy Philosophy (SEP) are ready to put it into action as the whole world increasingly moves toward sustainable development, said Sumet Tantivejkul, Secretary-General of the Chaipattana Foundation.

The Independent UK

OECD: War in Ukraine to drag on global economy into 2023

The Organization for Economic Cooperation and Development says Russia’s war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year

Tribune News Service

This Federal Reserve policy you’ve never heard of could have the biggest effect on your wallet

The Federal Reserve is making headlines by raising interest rates at the fastest pace in a single year since the 1980s, concerning investors and consumers alike with fears the central bank could go too far, too fast.

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Daily Record

Rachel Reeves promises 'genuine living wage' on day one of a Labour government

The shadow chancellor said investment in public services, investing in the green revolution and paying proper wages would grow the economy.

Daily Record

Nicola Sturgeon slams 'morally repugnant' UK Government following mini-budget

The First Minister has given her strongest indication yet that Holyrood will not follow the UK Government's tax cutting plans.

The National (Scotland)

First Minister brands UK's economic growth plans a 'catastrophic disaster'

FIRST Minister Nicola Sturgeon has described No 10 plans to boost economic growth as a “catastrophic disaster”, saying the Scottish Government…

The Independent UK

Liz Truss: Tory MPs sending no-confidence letters over fears she will ‘crash the economy’, says ex-minister

‘Liz is f*****’, says former minister in Boris Johnson government

The Independent UK

Nicola Sturgeon: Mini-budget is disaster it would be wrong to follow

The Scottish First Minister said plans to cut taxes were ‘morally repugnant, fiscally damaging and reckless’.

The National (Scotland)

Letters of no confidence in Liz Truss 'already being put in', claims Tory MP

LETTERS of no confidence in Liz Truss are already coming in amid fears she will "crash the economy", a source has suggested.

WEKU

Lexington finance commissioner reports on current and projected economy

Citizens in communities across the country are wondering how their local economies will fare over the coming year. That’s likely the case in the Commonwealth’s second largest city.

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