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The Latest Breaking News from Economy

State agencies, businesses and households are being urged to brace for a global economic slowdown which could easily deteriorate into a recession next year.

Bangkok Post

Mexico names new head of tax authority

Mexican President Andres Manuel Lopez Obrador on Monday designated Antonio Martinez to be the new head of Mexico's new tax authority (SAT) in replacement of Raquel Buenrostro, who was named as economy minister last week.

Reuters

Large rail union rejects deal, renewing strike possibility

The third largest railroad union rejected its deal with the railroads Monday — renewing the possibility of a strike that could cripple the economy — but before that could happen both sides will return to the bargaining table

The Independent UK

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Paul Tudor Jones Correctly Predicted The 1987 Stock Market Crash: Here's What The Billionaire Hedge Fund Manager Says Is Coming Next

Billionaire hedge fund manager Paul Tudor Jones sees continued weakness ahead as the U.S. economy heads for recession.

Benzinga

Liz Truss dreams of growth – but even if she pulls it off, it won’t help Britain

Incomes have stalled while the rich get richer. It’s clear the obsession with GDP has to change, says the University of Sheffield’s Michael Jacobs

The Guardian - UK

Explainer-What do Lula and Bolsonaro propose for Brazil fiscal policy?

Both of Brazil's presidential candidates, President Jair Bolsonaro and former President Luiz Inacio Lula da Silva, have proposed changes to the constitutional spending limit that defined fiscal policy in Latin America's biggest economy for the past six years.

Reuters

Germany to pay December gas bills for households and businesses in new energy crisis plan

Europe’s largest economy must cut consumption by 20 per cent to avoid potential shortages, expert warns

The Independent UK

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‘Prepare for back-breaking strikes’: Iran energy workers take action as protests against regime widen

Videos showed workers chanting ‘death to the dictator’

The Independent UK

Sanders warns Democrats not to focus solely on abortion ahead of midterms

Senator urges party to center campaign on economy, warning: ‘You can’t win elections unless you have support of working class’

The Guardian - US

Is the US economy in a recession and taking the world with it?

The US is facing rising recession fears even as economic indicators point to mixed signals.

Al Jazeera

University of Chicago prof, former Fed chair Bernanke share Nobel for research on banks

Bernanke, University of Chicago professor Douglas W. Diamond and Philip H. Dybvig were recognized Monday for their research into the fallout from bank failures.

Chicago Sun-Times

Democrats shouldn’t focus only on abortion in the midterms. That’s a mistake

America has long faced structural economic crises. Democrats must win on the economy and present a pro-worker agenda

The Guardian - US

How colleges and universities can get innovation wrong (and how they can get it right)

As Canada begins to understand and navigate the global post-pandemic landscape, our country’s ability to innovate will be an important success factor in its recovery. The pandemic saw massive strides made in innovation. This forward momentum provides an opportunity for Canada to build a more resilient and robust post-COVID economy.

The Conversation

Key issues as Malaysia gets set to go to the polls

KUALA LUMPUR: Malaysian Prime Minister Ismail Sabri Yaakob called for an early election on Monday, to win a stronger mandate and stabilise a rocky political landscape that has persisted in the wake of the multi-billion dollar 1MDB scandal and Covid crisis.

Bangkok Post

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Reuters

Explainer-Key issues as Malaysia gets set to go to the polls

Malaysian Prime Minister Ismail Sabri Yaakob called for an early election on Monday, to win a stronger mandate and stabilise a rocky political landscape that has persisted in the wake of the multi-billion dollar 1MDB scandal and COVID crisis.

Birmingham Post

Welsh-speaking counties to get £11m fund to boost economic prosperity

The financial package will be available over the next three years to four counties which have the highest levels of Welsh speakers

Birmingham Post

What are investment zones and will they boost the UK economy

Nick Bennett of Savills says while there will be legitimate concerns over displacement UK-wide zones could provide a significant boost to investment and job creation

Los Angeles Times

Commentary: OPEC’s move to raise oil prices is all about Russia

On Wednesday, OPEC+ announced a dramatic reduction in production quotas, by 2 million barrels per day. According to oil ministers, the goal is to boost crude prices and “encourage investment” in the sector — making it sound like they are doing the world a favor. In fact, this is an…

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Al Jazeera

Xi Jinping’s bid to extend rule puts ‘zero-COVID’ exit in focus

The Chinese leader has given no indication that the upcoming party congress will herald a shift in pandemic strategy.

Asharq Al-Awsat

Demand for Gold Increases in Saudi Arabia

The Saudi gold market is witnessing a stable supply amid increased demand, high market availability, and gold prices moving in unstable ranges due to the Russian-Ukrainian war. Gold prices in Saudi Arabia returned to their levels three years ago, positively affecting the demand for purchase, especially on pure gold coins…

Asharq Al-Awsat

MODON Establishes 50 Ready-Made Factories to Help Small Enterprises

The Saudi Authority for Industrial Cities and Technology Zones (MODON) constructed 52 new ready-made factories in the Second Industrial City in Dammam and the Industrial City in al-Kharj. MODON aims to enhance its strategy towards empowerment and contribute to increasing local content and localizing important sectors of the national economy…

Al Jazeera

Pitted against profits, Spain’s biodiversity haven collapses

Overexploited aquifer, coupled with too many dry years, sends Doñana National Park’s biodiversity into freefall.

Evening Standard

Bank of England doubles down on bond deals as Chancellor Kwasi Kwarteng heads to IMF

Jitters about market and UK economy remain

The Guardian - US

America’s ‘weird’ economy isn’t working – can Democrats convince voters they can fix it?

Economy in focus: Phoenix’s economy appears to be booming – but wages are failing to keep up, and prices are spiralling. How do voters see it?

The Guardian - UK

Relax, everyone! France has found a solution to the energy crisis

It’s called a jumper. If you’re not familiar with the concept, keep an eye out for photos of President Macron and his economy minister, Bruno Le Maire

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