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The Latest Breaking News from Economy

Liz Truss: Who is the UK’s new prime minister?

‘Human hand grenade’, seen by many Tories as Johnson continuity figure, confirmed as his successor after leading Rishi Sunak throughout leadership race

The Independent UK

BHP 'contributed $79bn to Aust economy'

BHP says it paid $18.5 billion directly to governments in Australia in 2021/22, with a total economic contribution of $79.3 billion to the country.

AAP

Protests across Indonesia as anger mounts over fuel price increase

Thousands of people rallied in Indonesia's biggest cities on Tuesday, demanding the government reverse its first subsidised fuel price increase in eight years amid soaring inflation.

Reuters

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Russia privately warns of deep and prolonged economic damage

Russia may face a longer and deeper recession as the impact of U.S. and European sanctions spreads, handicapping sectors that the country has relied on for years to power its economy, according to an internal report prepared for the government.

Tribune News Service

Digital business confidence low amid economic woes

Business confidence among digital-related enterprises showed no marked improvement in the second quarter, based on a recent Digital Sentiment Index survey, as Thailand grapples with high inflation, international conflicts and uncertain state policies, says the Digital Economy Promotion Agency (Depa).

Bangkok Post

With economy in trouble, UK gets ‘disruptor in chief’ as leader

LONDON — Liz Truss is happy to make enemies. The U.K.’s next prime minister has likened bureaucrats to “gremlins,” insulted domestic and foreign leaders, and said British workers need more graft.

Tribune News Service

Migration boost is bad news for Australia's environment – we mustn't ignore that

An increase in the permanent migrant intake to 195,000 this year is one of the jobs summit outcomes announced by the federal government on Friday. The business community pushed for this change, saying shortages of skilled employees are holding back the economy.

The Conversation

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Gorbachev, macro-economics, and Gandhi

Concepts of free trade, financial freedom, and privatisation are not the right solutions for India’s citizens

The Hindu

'The Government must act immediately': Welsh butcher's stark warning as his energy bills rise by 500%

Ieuan Edwards says the British economy is facing a 'catastrophe'

Wales Online

"Protect the economy, businesses and people's livelihoods" Welsh business leaders tell new PM Liz Truss

Liz Truss won the Tory Party leadership contest with 57.4% of the vote to become the UK's new Prime Minister

Birmingham Post

It's special, left behind those who ruled us for 250 years, says PM Modi on India becoming fifth largest economy

PM Modi said the country has broken the shackles of thousands of years of slavery and will only move forward.

The Hindu

Welsh firms face challenging future as forecasters predict a recession for the UK

New research on Wales’ economy shows climate for small firms in Wales “remains difficult”

Birmingham Post

UK economy on brink of recession as Truss takes over, figures show

Activity in manufacturing and services fell last month as businesses struggle with soaring costs

The Guardian - UK

Andhra Pradesh to get investments worth Rs 1.26 lakh crore, green energy to attract Rs 81k crore

AMARAVATI: In a move that could pump required energies to the state’s economy, the State Investment Promotion Board (SIPB) on Monday cleared proposals with investment to the tune of Rs 1,26,622 crore. State is getting Rs 81,000 crore investments in green energy sector alone.

The Times of India

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The Independent UK

Next PM Truss promises ‘bold’ Tory vision as she targets 2024 election win

She said she would deliver on a plan to boost the economy and deal with the cost-of-living crisis after winning the Tory leadership.

The Hindu

Tackling inequality key to climate fight

Tackling inequality is key to securing the public support needed to overhaul the global economy and reverse climate change, an update to the landmark 50-year-old computer simulation of environmental stress has found.

The Conversation

With Americans having fewer children and the nation’s labor force getting older, many employers in manufacturing, aviation and other industries are having trouble finding enough workers.

Manchester Evening News

New PM Liz Truss promises to 'deal' with people's energy bills amid cost of living crisis

The new PM claims she will "deliver a bold plan to cut taxes and grow out economy"

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The Conversation

Liz Truss faces a financial whirlwind – will her plans for the economy work?

Liz Truss may have won the battle to become Britain’s next prime minister, but don’t expect much time for her to settle into office. People’s living standards are predicted to fall by an unprecedented 10% over the next two years, driven by rising prices of energy and other goods.

Asharq Al-Awsat

Euro Plunges to 20-Year Low after Russian Gas Halt

The euro sank to a new 20-year low on Monday and below $0.99 after Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the region. The euro has been increasingly correlated with natural gas prices in recent months, with the…

Newcastle Herald

Wastewater could fuel Hunter's hydrogen economy

Millions of litres of wastewater could be used as fuel for green hydrogen production rather than being dumped at sea as part of a plan to transform the Hunter' long-term energy base.

Reuters

Tackling inequality key to climate fight - study

Reuters

China policymakers see renewed urgency for economic support

Chinese policymakers signalled a renewed sense of urgency on Monday for steps to shore up the flagging economy, saying this quarter was a critical time for policy action as evidence points to a further loss of economic momentum.

The Times of India

In charts: India likely to overtake Japan as third-largest economy by 2029

NEW DELHI: With India surpassing the United Kingdom (UK) to become the world's fifth largest economy, a report by the State Bank of India (SBI) suggests that the country will outstrip two other major economies to become the third-largest economy by 2029.

Bangkok Post

Some Economists Rethink When, if Ever, China Will Pass U.S. in GDP

The sharp slowdown in China's growth in the past year is prompting many experts to reconsider when China will surpass the U.S. as the world's largest economy -- or even if it ever will.

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