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The Latest Breaking News from Economy

William Ruto is now in charge of Kenya’s shaky economy: where to start

Kenya’s President William Ruto, sworn in as new President on 13 September 2022, has inherited an economy saddled with debt, inflation, joblessness and national pessimism. The International Monetary Fund has also added to his pain: it recently asked Kenya to broaden its tax base and scrap the fuel subsidy.

The Conversation

US railroads, unions reach tentative deal on eve of deadline

U.S. railroads and unions reached a tentative deal early Thursday, a breakthrough that looks to avert a labor disruption that risked adding supply-chain strains to the world’s largest economy.

Tribune News Service

Rail strike averted with hours to go as Biden team pushes deal

U.S. railroads and unions reached a tentative deal early Thursday, a breakthrough that looks to avert a labor disruption that risked adding supply-chain strains to the world’s largest economy.

Tribune News Service

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Railroad strike averted: With tentative deal, Metra trains may run as scheduled

President Joe Biden says a tentative railway labor agreement has been reached, averting a strike that could have been devastating to the economy before the midterm elections.

Chicago Sun-Times

Saudi Crown Prince Launches National Gaming and Esports Strategy

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Deputy Prime Minister and Chairman of the Council for Economic and Development Affairs, unveiled the National Gaming and Esports Strategy that marks the beginning of a new era toward leading the gaming sector and making the Kingdom a global hub…

Asharq Al-Awsat

Sri Lanka's economy shrinks 8.4% amid fertiliser, fuel shortages

Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.

Reuters

Analysis-Lula unlikely to repeat Brazil state bank lending binges

Over more than a decade in power, Brazilian leftist Luiz Inacio Lula da Silva and his handpicked successor used state banks to bolster corporate "national champions" and major sectors their Workers Party saw as essential to the economy.

Reuters

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Plan to axe banker bonus cap condemned as ‘obscene’ amid pay cuts and ‘huge risk’ to economy

’Nurses given real-terms pay cuts. City executives given unlimited bonuses,’ TUC chief says

The Independent UK

There's a solution to the labor shortage

The economy's improving fast — but now we can supercharge it by offering legal status to undocumented workers

Salon

Biden says tentative railway labor deal has been reached, averting a strike

President Joe Biden said Thursday a tentative railway labor agreement has been reached, averting a potentially devastating strike before the pivotal midterm elections.

WEKU

India plans no more funding for Sri Lanka as IMF talks progress - sources

India does not plan to provide fresh financial support to Sri Lanka on top of the nearly $4 billion it has extended this year, two sources told Reuters, as the island's battered economy starts to stabilise after a preliminary loan agreement with the IMF.

Reuters

White House says tentative deal reached to avoid rail strike

"The tentative agreement reached tonight is an important win for our economy and the American people," President Biden said.

Axios

Biden approval rating jumps up to 45%

Poll shows economy continues to be a source of weakness for the president

The Independent UK

German economy minister sees possible victory for democracy in Ukraine

German Economy Minister Robert Habeck said on Thursday he could see the possibility of victory for democracy in Ukraine and vowed to send more weapons as the country battles to extend its territorial gains against Russia.

Reuters

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Reuters

German economy minister: Ukraine says it needs 350 billion dollar for reconstruction

German Economy Minister Robert Habeck said on Thursday Ukraine needs 350 billion dollars for reconstruction, according to Kyiv's own estimates.

Asharq Al-Awsat

Circuit Chief: F1 Unlikely to Return to Malaysia Anytime

Formula One is unlikely to return to Malaysia anytime soon as the government focuses its efforts on rebuilding the economy from the ravages of the coronavirus pandemic, the circuit's boss said. Azhan Shafriman Hanif, chief executive of the Sepang International Circuit which used to host the race, told reporters in…

The Independent UK

Biden's tight spot: a union backer out to avert rail strike

President Joe Biden believes unions built the middle class

The Independent UK

Biden approval rises sharply ahead of midterms: AP-NORC poll

President Joe Biden’s popularity has improved substantially from his lowest point this summer, but concerns about his handling of the economy persist

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The Guardian - AU

New Zealand avoids recession as eased Covid measures help spur 1.7% GDP growth

After a decline in the previous quarter, the economy rebounded on the back of spending on travel and recreation

The Guardian - AU

Australia’s unemployment rate rises slightly from 3.4% to 3.5% as more people seek work

Labour market figure will be watched by economists as a guide to Reserve Bank’s decision on whether to further raise interest rates

Birmingham Post

10 Questions with Scott Bullock, principal at Newcastle College

Mr Bullock is the latest business leader to answer our questions

ABC News

Unemployment rises for the first time in 10 months despite continuing jobs boom

Australia's unemployment rate rises for the first time in 10 months, despite more than 30,000 jobs being added in August.

Bangkok Post

KEX unveils green initiatives and goals

Leading express delivery service provider Kerry Express (Thailand) or KEX announced sustainability initiatives and goals under the "Green Economy Strategy", which focuses on net zero carbon emissions by 2065.

The Conversation

Railroads and unions reach deal to avert devastating strike, keeping America's trains and the economy on track – for now

Most Americans may not appreciate the central role that private railroads play in supporting the U.S. economy and their everyday lives. Recent fears of a railroad strike may have changed that.

The Hindu

New Zealand is open for all and we want to restart post-COVID relation with India, says Minister

The immediate focus of her country is to restart the economy and re-establish valuable international links across the world, says Meka Whaitir

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