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The Latest Breaking News from Economy

How ideology muddled inflation control in India

The agencies responsible for macroeconomic policy have hitched their wagon to Anglo-American economics

The Hindu

Interest rates an 'outdated and unrealistic' weapon against inflation

A healthy economy needs a population that can aspire and afford to live at least reasonably, if not well.

Newcastle Herald

Australians are spending hard, despite real wages falling. It’s a fragile situation

The GDP recovery looks strong, but it’s largely driven by households dipping into savings. Meanwhile, company profits are exploding

The Guardian - AU

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Cardona defends student loan plan as ‘one-time’ COVID-19 remedy

WASHINGTON — Education Secretary Miguel Cardona pushed back Wednesday against Republican criticism of the Biden administration’s new student loan debt forgiveness program, saying it would curb defaults and boost the economy.

Tribune News Service

IMF chief says India 'a bright spot' in global economy

NEW DELHI: International Monetary Fund's (IMF) managing director Kristalina Georgieva on Thursday said that despite global uncertainty and headwinds, India continues to be a bright spot in the global economy.

The Times of India

German economy minister under fire as German companies sound alarm on energy prices

German Economy Minister Robert Habeck faced a backlash on Wednesday for saying he could imagine parts of the economy stopping production due to rising energy prices that German firms say are threatening their existence.

Reuters

2 Stocks to Avoid if You Don't Want to Lose Money

The Fed’s hawkish stance has increased the odds of the economy tipping into a recession. Therefore, it could be wise to avoid fundamentally weak crypto-focused stocks Coinbase Global (COIN) and Riot Blockchain (RIOT), as they are not well-positioned to survive the market uncertainties. Read on….

StockNews.com

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Crime On The Rise Means 3 High Yielding Dividend Stocks Could Be Beneficiaries

Since the start of January 2022, companies in the insurance industry are up 2.17% compared to the S&P 500 which is down 13.23% as of September 2, 2022. As the economy reopened, many Americans decided to travel and buy new goods with the money that they have saved up since…

Benzinga

New UK Prime Minister Liz Truss inherits an economic storm

Britain’s new prime minister has pledged to rebuild the economy and “ride out the storm” gathering over the country, but Liz Truss faces a daunting job

The Independent UK

Learning from the 1998 and 2002 midterms - Roll Call

Are we heading toward another anomalous midterm election, like those in 1998 and 2002? That might be the case, Stuart Rothenberg writes.

Roll Call

Female equality key to economic future: PM

Prime Minister Anthony Albanese will tell business leaders that equality for women will be one of the forces that will shape the economy in the coming decade.

AAP

Japan eases Covid-19 border controls but tourist surge doubtful

TOKYO: Japan's relaxed border measures from Wednesday, including raising a daily cap on arrivals from 20,000 to 50,000, will not translate into a surge of tourists to gun its economy unless they are given greater freedom to travel in the country, industry officials say.

Bangkok Post

Consumers drive the economy by spending savings, but inflation is set to hit hard

A massive number of Australians spending their lockdown savings on holidays and eating out drove above-trend economic growth over the June quarter.

The New Daily

The U.K.'s new prime minister inherits an economic nightmare

Britain's economy, already rendered fragile by Brexit, now faces double-digit inflation and negative economic growth.

Axios

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Reuters

Putin says Russia will post budget surplus this year, GDP to decline 'around 2%'

Russia will post a budget surplus this year, President Vladimir Putin said on Wednesday, forecasting a much shallower economic contraction than previously thought as Russia has overcome the worst impact of Western sanctions.

Asharq Al-Awsat

Saudi GDP up 12.2% in Second Quarter, Exceeding Initial Estimate

Saudi Arabia's real gross domestic product expanded by 12.2% in the second quarter compared with the same period of 2021, data showed on Wednesday, as the world's top oil exporter reaps the rewards of high crude prices and a post-pandemic recovery. The second quarter growth figure exceeded a flash government…

ABC News

The Loop: Australia's economy continues to grow, Nick Kyrgios out of the US Open, and a controversial beer gets a new name

Get up to speed on today's headlines with The Loop.

The Conversation

With better standards, we could make plastics endlessly useful – and slash waste. Here's how

If you flip over a plastic food container, you’ll see tiny writing on it – something like “AS 2070”. This means the product meets the Australian standard for plastics safe to use for food.

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Reuters

Russia is gaining from conflict in Ukraine, Putin says

President Vladimir Putin said on Wednesday that Russia had gained, not lost, from the conflict in Ukraine because it was embarking on a new sovereign path that would restore its global clout.

Evening Standard

FTSE 100 Live: China trade figures disappoint, mining shares fall

Stock markets are under pressure after China reported disappointing trade figures today.

The Guardian - UK

Pound falls to lowest level since 1985 against dollar – as it happened

IFS boss says Liz Truss’s plans to freeze energy bills ‘very poorly targeted’; Putin threatens to cut off energy supplies if price caps are imposed; UK housing market shows signs of slowing

Bangkok Post

Bank of Thailand to hike rates gradually to contain inflation

The Bank of Thailand (BoT) will raise interest rates gradually to curb inflation risks and ensure a smooth recovery as the economy is expected to return to pre-coronavirus-pandemic levels late this year or early next year, BoT governor Sethaput Suthiwartnarueput said.

The News Lens

Taiwan’s Economic Slowdown (Part 1): Taiwan’s Wages Are Growing Too Slowly to Allow Profits Grow

Taiwan’s issue isn’t that consumer prices are growing too quickly. It’s that wages are growing too slowly.

Al Jazeera

After record floods, now Pakistan has to worry about economy

The rain has destroyed vast hectares of crops, including cotton, a key source of employment and forex for the nation.

The Guardian - AU

Australian economy holds firm in June quarter driven by export boom

National accounts figures show GDP expanded by 3.6% compared with a year earlier as households drew down on savings to keep spending

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Sethaput Suthiwartnarueput

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