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The Latest Breaking News from Economy

Al Rumayyan: Saudi Arabia Seeks 100 Years of Economic Sustainability

Governor of the Saudi Public Investment Fund Yasir al-Rumayyan said the Kingdom seeks to develop a sustainable economy that can thrive 100 years from now. He underscored Saudi Arabia’s commitment to global climate action and efforts to develop renewable energies. Rumayyan made the remarks during the opening session of the…

Asharq Al-Awsat

Truss? Brexit? Covid? Who is really to blame for the Tories’ ‘fiscal hole’?

The succession of PMs have all spoken out on who or what has caused the state of UK finances. They’re all partly right, but conveniently miss out one or two other key reasons

The Guardian - UK

Don’t be taken in by that £50bn ‘fiscal black hole’. It’s just a dodgy Tory metaphor

Drastic public sector belt-tightening is not an economic necessity but a political decision

The Guardian - UK

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IMF chief warns on U.S.-China rivalry, calls Trump-era tariffs counterproductive

The head of the International Monetary Fund warned of risks to the global economy from the rivalry between China and the United States, while describing tariffs put on Chinese imports under then-President Donald Trump as counterproductive.

Reuters

Biden set to meet Xi in bid to avert a full rupture in US-China ties

The US and China disagree on so many things, across so many spheres, that other world leaders are increasingly warning of a deeper rupture that could split the global economy.

Bangkok Post

UK Economy: A crisis in the making for some time, with India trade deal offering hope

It has been anything but a smooth ride for the Rishi Sunak led UK government, with the latest official data released this week reflecting a shrinking economy and a looming two-year-long recession. Read more on Dynamite News:

Dynamite News

Chinese premier says economy on 'upward trend', vows further support

China's economy has grown 3% over the past three quarters and is stabilising on an "upward trend", Chinese Premier Li Keqiang said, vowing to continue to support the economy with policy measures.

Reuters

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Climate protesters in Portugal storm building, urge minister to step down

Hundreds of protesters angry about the climate crisis took to the streets of Lisbon on Saturday, with dozens storming a building where Portugal's Economy Minister Antonio Costa e Silva was speaking demanding that the former oil executive resign.

Reuters

'Tories are clueless on saving the NHS - it's time to let Labour fix their mess'

Shadow Health Secretary Wes Streeting says the Conservatives have wrecked the economy and the NHS, and Labour is the only party with a proper plan to get the NHS back on its feet

Daily Mirror

Senate control may come down to Nevada as count nears end

Nevada's ballot count is entering its final act and may determine which party controls the U.S. Senate

The Independent UK

Belfast restaurant's message to politicians after 'crippling' energy bill

'We need a Government who works for the people of Northern Ireland and who supports the businesses that put money back into the economy'

Belfast Live

Rishi Sunak faces struggle to retain both red wall and blue wall voters

Exclusive: Report reveals two sides of 2019 coalition are starkly divided over economy and cost of living policies

The Guardian - UK

Biden Administration to Require Federal Contractors to Report and Reduce Greenhouse Gas Emissions

A new proposed regulation may test the limits of the Executive Branch's authority to impose regulatory requirements on federal contractors.

Reason

Nevada count enters Day 4 with Senate, governorship on line

With control of the U.S. Senate on the line, Nevada’s protracted ballot count is grinding through a fourth day

The Independent UK

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Daily Mirror

Austerity 2? No, thank you! Jeremy Hunt warns about another brutal era of cuts in Budget

Another three months of falling growth would mean a recession, with the Bank of England warning it could be the longest downturn for a century

The Guardian - UK

The Guardian view on the UK economy: old folly or new folly

Editorial: Next week’s autumn statement will show if Jeremy Hunt has learned anything from George Osborne’s and Kwasi Kwarteng’s failures

The Guardian - UK

Herman Daly obituary

Pioneering ecological economist who foresaw the catastrophic effects of unlimited economic growth

Reuters

Growing number of Germans won't be left in dark with blackout courses

Once purely the stuff of action movie plots, the prospect of the lights going out in Europe's biggest economy has become a conceivable threat during the current energy crisis.

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Al Jazeera

Russia’s Kherson retreat marks tectonic shift in Ukraine war

Withdrawal from regional capital further undermines Russia’s geopolitical prestige and gives boost to Ukrainian economy.

Benzinga

'Out-Of-The-Box' Approach Helps Lithuania's Aušrinė Armonaitė Build Strong Economy

Lithuania, which was in the news this week for its opening of a trade office in Taiwan, is seeking to dampen the blow of economic crosscurrents by diversifying its dependencies via new global partnerships, foreign direct investment (FDI) initiatives and education.

The Independent UK

Nicola Sturgeon ‘profoundly concerned’ ahead of autumn budget

Scotland’s First Minister said the UK was in an “incredibly difficult” position after meeting Rishi Sunak at the British-Irish Council summit.

Daily Mirror

Kwasi Kwarteng accused of 'rewriting history' as he passes blame for crashing the economy

Former chancellor Kwasi Kwarteng has claimed he pleaded with Liz Truss to "slow down" her tax cutting rampage - even though he went on TV two days after the mini-Budget to boast it was just the start

Fortune

As Lula takes office, it’s time for Brazil to create an ‘economy of standing forests’

The incoming Lula administration bears the largest responsibility for preserving the Amazon. Doing so would uplift Brazil's economy–and help the planet.

Evening Standard

The Standard View: Autumn Statement pain is coming, but we need a long-term prosperity plan

Today’s figures confirm what the forecasters and the Bank of England have already predicted: the British economy is shrinking. GDP contracted by 0.2 per cent between July and September, as spiralling prices and energy bills impacted households and businesses.

The Independent UK

Recession news – live: Hunt warns of ‘eye-watering’ decisions amid economic downturn (cloned)

Chancellor warns of ‘tough road ahead’ as economy contracts by 0.2 per cent

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