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The Latest Breaking News from Economy

Meeting gives China's Xi a chance to tighten hold on economy

A meeting of the ruling Communist Party to install leaders gives President Xi Jinping, China’s most influential figure in decades, a chance to stack the ranks with allies who share his vision of intensifying pervasive control over entrepreneurs and technology development

The Independent UK

Yellen warns of 'geopolitical coercion' by Russia, China

U.S. Treasury Secretary Janet Yellen on Wednesday said the global economy was facing "significant headwinds" and the United States was working to shore up its supply chains and guard against "geopolitical coercion" by Russia, China and others.

Reuters

Consumer confidence continues to improve

Consumer confidence picked up for a fourth straight month in September, hitting an eight-month high, helped by a reduction in the Covid-19 infection rate and improved business activity following the relaxation of pandemic-era restrictions.

Bangkok Post

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Treasurer Jim Chalmers warns of US recession prior to meeting with G20 counterparts

Treasurer Jim Chalmers acknowledges the "deteriorating global economy and rising inflation" would put pressure on his upcoming budget, ruling out changes to legislated stage 3 tax cuts.

ABC News

War-torn Ukraine needs at least $3 billion a month in 2023, IMF says

Ukraine will need at least $3 billion a month next year to finance its wartime economy, which means allies will have to step up with more support, the head of the International Monetary Fund said.

Tribune News Service

Why Liz Truss' pledge not to cut public spending is not all that it seems

Critics believe the Prime Minister has three options: U-turn and cut spending, U-turn on tax cuts, or keep going and drive the economy off a cliff. Some of the answers may lie in the detail

Daily Mirror

Gloom oozes from energy forecasts that show oil demand dropping, heating bills rising

The weakening economy around the world will drive down demand for oil in the coming months, according to OPEC, while the U.S. government warns that households will pay more for heat this winter.

WEKU

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The Fed Is Skating To Where The Puck Was: Comparisons To Volcker's 1980s Inflation Are 'Conceptually Wrong,' Says This Economist

Unbeknownst to many, the gift for the 43rd anniversary of marriage is entertainment; to stretch it further, this fall marks the 43rd anniversary of a pivotal event in the history of the Federal Reserve and the U.S. economy.

Benzinga

Lack of menopause awareness and support ‘costing London’s economy over £2billion’

A report given to MPs on Wednesday called for free menopause check-ups for women turning 45

Evening Standard

Yellen says U.S. economy 'resilient' amid global headwinds

U_S_ Treasury Secretary Janet Yellen is seeking to project confidence in the U_S_ financial outlook while pledging vigilance in responding to “risks on the horizon.”

The Independent UK

Ukraine's Zelenskiy appeals for $55 billion to cover budget gap and reconstruction

Ukrainian President Volodymyr Zelenskiy on Wednesday appealed to international donors to increase their financial support, saying more money was needed to rebuild schools and homes destroyed by months of Russian bombardment.

Reuters

Biden hit on economy as more say finances poor: AP-NORC poll

More U.S. adults are now feeling financially vulnerable amid high inflation

The Independent UK

As IMF alarm bells ring, Australia is stuck between inflation and a looming global recession

Limp growth would normally require fiscal stimulus, yet concerns about inflation mean we’re unlikely to see a big-spending budget

The Guardian - AU

Rough times ahead: Hurricane Ian batters SW Florida economy

Hurricane Ian might have come and gone, but it has done long-term damage to the small businesses of a region heavily dependent on tourists and seasonal residents

The Independent UK

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The Independent UK

EXPLAINER: What caused UK's economic crisis and what's next?

Prime Minister Liz Truss took office last month promising to rebuild the British economy and put the nation a path to “long-term success.”

The Independent UK

What spiking US veterinary prices reveal about inflation

Most pets hate visiting the vet

The Conversation

Johannesburg's informal traders face abuse: the city's ‘world class’ aspirations create hostility towards them

Unemployment and the rising cost of living force many people to make a living in the informal economy, particularly street trading. While it is difficult to measure the size of the informal economy, some studies show that more than 60% of employed people in the world work in the informal…

Reuters

German economy minister: 'concrete threat' to critical infrastructure

Attacks on critical infrastructure are high on the German government's agenda after suspected sabotage on the Nord Stream 1 and 2 gas pipelines, Economy Minister Robert Habeck said on Wednesday.

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Dublin Live

Recession Ireland: Dublin's economy at 'weakest' level since heavy Covid-19 restrictions

Economists have been forecasting a recession in the latter part of 2022

The Independent UK

German government: Economy to shrink in 2023 as war bites

The German government has slashed its growth forecast for this year and predicted that Europe’s biggest economy would shrink in 2023 as it deals with the fallout from Russia’s war in Ukraine, including Moscow cutting off natural gas supplies

The Independent UK

Liz Truss ‘lost in denial’, says Keir Starmer as PM claims she won’t cut public spending

PM jeered in Commons after insisting she has ‘protected’ UK economy

Daily Record

What it means for the economy to 'shrink' - and how it affects our money

The economy looks as though it will go into recession after figures show it 'unexpectedly' shrank in August.

Evening Standard

The end of Labour’s drama detente shows Starmer means business

Labour has been a drama-free zone over the past few weeks as the Conservative Party terrorises the economy and morphs into a circular firing squad. That was until Monday night when a Labour MP was deselected by his local party. Sam Tarry, who represents Ilford South, lost a battle to…

The New Daily

Smarter Australia: Census reveals sectors with massive growth

Australia is rapidly transforming into a highly qualified nation where vast numbers are taking jobs in fields like cybersecurity.

Daily Mirror

Liz Truss promises NO cuts despite '£60bn needed' as Keir Starmer blasts her 'madness'

Liz Truss was facing angry MPs who are demanding she tears up more of her mini-Budget - after a month with no PMQS that has been marked by U-turns and financial turmoil

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