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The Latest Breaking News from Economy

Who is Kwasi Kwarteng, the UK’s first Black chancellor?

And how does he plan to save the UK’s imperilled economy?

Al Jazeera

UK in recession as Bank of England hikes interest rates to highest since 2008

Interest rates have risen to 2.25% from 1.75% – the highest level since November 2008

Insider UK

UK economy likely already in recession as Bank hikes interest rates to 14-year-high

THE UK economy is likely to be in recession after the Bank of England announced it expects GDP to fall over the next quarter and that it would hike…

The National (Scotland)

From analysis to the latest developments in health,
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New report shows Northumberland tourist economy doubles in post-covid recovery

The number of those directly employed by tourism in the county has also recovered by more than 60 percent

Chronicle Live

Monitor the intersection of politics and business with our Economy and Society newsletter

Welcome to the Thursday, September 22, Brew.

Ballotpedia

'Decisive action, clarity and simplification' or 'smoke and mirrors': North West business leaders share views ahead of mini-Budget

Leaders from across the region have had their say

Birmingham Post

California seeks to ban sales of diesel big rigs in a bold bid to cut pollution

Saying they had a “moral obligation,” California regulators could soon ban the sale of diesel big rigs by 2040, ending a long reliance on the polluting vehicles that are the backbone of the American economy.

Los Angeles Times

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Commentary: The Fed’s monetary malpractice will cost you

The goal of the latest interest rate hike from the Federal Reserve? To avoid a deep recession “by acting with resolve now,” according to Fed Chairman Jerome Powell. But if history is any guide, this is a case of too little, too late.

Tribune News Service

Democrats will struggle to keep control of Congress in midterms, expert says

Ray Fair’s latest analysis suggests Democrats will get 46.7% of the national vote – and he usually comes within 3% of the final tally

The Guardian - US

AP PHOTOS: Backbreaking work for kids in Afghan brick kilns

Aid agencies say the number of children working in Afghanistan is growing ever since the economy collapsed following the Taliban takeover more than a year ago

The Independent UK

Taiwan to drop quarantine for arrivals by mid-October

East Asian economy is one of the few remaining places still requiring visitors to quarantine.

Al Jazeera

Powell's stark message: Inflation fight may cause recession

The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession

The Independent UK

'Brownhog Day' as ex-PM's think tank calls for 'Scottish Treasury' to boost growth

GORDON Brown’s Unionist think tank has called for the creation of a Scottish Treasury in a move which has been branded a “carrot” for voters.

The National (Scotland)

Palau calls for greater U.S. support as it renegotiates bilateral agreement

The Pacific island state of Palau, which finds itself at the heart of a geostrategic struggle between the United States and China, called on Wednesday for greater U.S. support to build its infrastructure and economy.

Reuters

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Bangkok Post

Thai digital content set to hit B62.4bn

The value of Thailand's digital content industry is expected to reach 62.4 billion baht by 2024, up from 42 billion baht last year, driven by strong growth in the gaming sector and the recovery of the animation industry, says the Digital Economy Promotion Agency (Depa).

The Independent UK

US has sent $8.28 billion in pandemic funds to local lenders

On the same day the Federal Reserve gave a sobering report on the U.S. economy’s trajectory, administration officials highlighted how they have kept some of the nation’s smallest businesses afloat through the pandemic

Bangkok Post

EVA Air introduces new meal options

EVA Air is launching new meal choices, especially for Premium Economy and Economy Class passengers on flights from Taipei to the United States, Canada, Australia and nonstop to Europe, from Oct 1 to Dec 31.

Bangkok Post

DES cracks down on peddling of bogus investments

The Digital Economy and Society (DES) Ministry says it will send a list of websites and social media pages suspected of luring people into bogus asset investments to the Bank of Thailand and the Securities and Exchange Commission (SEC) to check the licences, as part of a crackdown on scammers.

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news in one place.

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France 24

Fed hikes interest rates amid rampant inflation, despite recession risk

Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that will heighten the risk of an eventual recession.

Al Jazeera

US Fed hikes interest rate to highest level since 2008

Announcement sparks concern that fight to contain sky-high US inflation could tip the economy into a recession.

Evening Standard

Mini-budget predictions: What should we expect from Kwasi Kwarteng?

The Standard looks at the moves the chancellor could announce

Wales Online

Used car expert offers fuel savings tips after 89% of drivers use potentially dangerous "hypermiling" techniques

The experts also breakdown the dangers of hypermiling and the damage it can do to your car

ABC News

Today's public holiday costs the economy almost $2 billion, as shops close and tradies down tools

Subbies are taking the day off without pay and shops are closing rather than paying staff extra wages. Cafes and restaurants that do stay open are often lumping the extra cost onto the consumer.

Asharq Al-Awsat

Iran Restricts Access to Instagram as Protests Intensify

Iran has restricted access to Meta Platforms Inc's Instagram, one of the last remaining social media platforms in the country, amid protests over the death of a woman in police custody, internet shutdown observatory NetBlocks said. The death of 22-year-old Mahsa Amini, who was arrested by morality police in Tehran…

Reuters

Germany takes over Uniper, raising rescue bill to $29 billion

Germany on Wednesday agreed to nationalise Uniper, raising the bill to rescue the gas importer to 29 billion euros ($28.7 billion) amid an escalating energy crisis that shows just how much Europe's top economy has relied on Russian fuel.

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