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The Latest Breaking News from Economy

A tough Autumn Statement but some positives on R&D and innovation

Public spending on R&D will increase to £20bn a year by 2024-25, a cash increase of around a third compared to 2021-22.

Birmingham Post

Autumn statement 2022: what Sunak's first big announcement tells us about how he will lead the country

Understandably, much of the focus on the autumn statement – the plan for the UK’s finances outlined by chancellor Jeremy Hunt on November 17 – is on its economic impact. But all economic policy making has considerable political significance.

The Conversation

Revenue seize 51,500 litres of beer after spotting 'unaccompanied trailers'

The bust came as part of ongoing operations targeting the shadow economy and smuggling

Irish Mirror

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UK economy damaged by ‘own goals’ like Brexit and Liz Truss’s Budget, economists say

Institute for Fiscal Studies says UK faces ‘long, unpleasant journey’ over next few years

The Independent UK

Relief meets fear as UK budget calms economy but brings pain

Britain’s Conservative government is defending its decision to hike taxes for millions of working people in the “squeezed middle” class as it tries to shore up an economy battered by double-digit inflation

The Independent UK

Wheels fall off the gig economy for Deliveroo

The government has committed to introducing legislation in 2023 for gig economy workers.

The New Daily

Fund worth £20m to back Liverpool start-ups and create jobs announced

The initiative would see money invested in companies in return for equity

Birmingham Post

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Editorial: California’s eternal poverty problem demands more than government checks

Fewer people were in poverty in California in 2021 than in 2019. That’s the good news. The bad news is that this was due only to government relief payments, not to an improving economy or more job opportunities.

The Orange County Register

Jeremy Hunt insists non-dom tax loophole is good for the economy

But chancellor says he does not have figures to base decision on

The Independent UK

What are the key issues in Nepal’s national elections?

About 18 million people are eligible to vote for members of parliament and seven provincial assemblies in Sunday polls.

Al Jazeera

Jeremy Hunt says axing nom-dom status would be ‘wrong thing’ for UK

Chancellor defends keeping tax status as he warns of ‘challenging times’ and suggests Brexit has affected economy

The Guardian - UK

Hunt’s plan may please the markets, but austerity without real growth would be fatal

There will be no recovery unless the chancellor addresses low productivity, the green economy and trading relations post Brexit, says economist Mohamed El-Erian

The Guardian - UK

Wales the only UK nation not to see growth in its economy shows new ONS figures

Based on the GDP measure in the first three months of 2022 growth in Wales was flat

Birmingham Post

Amazon Confirms it Has Begun Laying off Employees

Amazon confirmed on Thursday that it is laying off staff, after days of rumors that the e-commerce behemoth would become the latest tech giant to unleash a large-scale redundancy plan amid a souring economic environment. "The economy remains in a challenging spot and we've hired rapidly the last several years,"…

Asharq Al-Awsat

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Reuters

Key issues in Nepal's national elections

Nepal will hold national and provincial elections on Sunday, which the ruling coalition, led by the centrist Nepali Congress party, are expected to win.

Wales Online

What Jeremy Hunt's stealth taxes mean for you - experts explain autumn statement

Spending cuts announced in the autumn statement have been widely dubbed “Austerity 2.0”

The Guardian - UK

Friday briefing: How will Labour counter the Tory ‘belt-tightening’ agenda this time?

In today’s newsletter: The chancellor’s autumn statement blamed global problems for an economic crisis of the government’s making – what should be Labour’s alternative?

The Independent UK

Nepal voters seek change, younger generation leadership

Nepal's parliamentary elections Sunday are the fourth since the Himalayan nation abolished a centuries-old monarchy and became a republic

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Daily Mirror

Russia falls into recession as Western sanctions lead to a 4% fall in GDP

Russia has plunged into a recession after its economy shrank by 4% in the most recent financial quarter, with the effects of Western sanctions on trade now taking hold

The Guardian - UK

Population in the US: as small towns shrink, is immigration the answer?

If a growing population is necessary for a healthy US economy, the country may have to rely on immigration to deliver it

Reuters

In Malaysia election, economy is priority for voters tired of instability

Malaysian livestock and animal feed trader Zamri Haron lost 400,000 ringgit ($87,241.00) in heavy rains and floods last December that damaged his equipment and spoiled his stocks.

Fortune

Billionaire investor Barry Sternlicht used to think Jerome Powell’s Fed would threaten capitalism—now he calls its rate hikes ‘suicide’

The Fed doesn’t appear to understand the ramifications of what they’re doing,” Sternlicht said.

Fortune

America is heading for a soft landing while the U.K. is expecting its worst decline in living standards—ever

Americans are fretting over an expected recession, but the economy is in many ways strong. Things are gloomier in the U.K.

Bangkok Post

Thailand's EEC is an opportunity not to be missed

This is a special year for our region. This month, Southeast Asian capitals play host to three major summits. Cambodia hosted the Asean Summit from Nov 10-13 and the G20 Summit has just been held in Bali, Indonesia. This weekend, Thailand hosts the annual leaders' summit of the Asia Pacific…

AAP

Industrial umpire scraps Svitzer lockout

The Fair Work Commission has stepped in to ensure a port lockout by tugboat operator Svitzer cannot go ahead for six months, as a pay dispute continues.

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