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The Latest Breaking News from Economy

Lorna Slater ‘terrified’ by Tory leadership candidates’ approach to economy

The Scottish Greens co-leader accused both Liz Truss and Rishi Sunak of ‘disrespecting’ the Scottish people and the Scottish Parliament.

The Independent UK

Stagflation warning as UK ‘set to enter recession’

The National Institute of Economic and Social Research said the threat of stagflation has returned for the first time since the 1970s.

The Independent UK

Robinhood cuts nearly a quarter of its staff as the pandemic darling loses its shine

Robinhood – the company that became a household name during the pandemic – is cutting staff, citing a deteriorating economy and worsening market.

WEKU

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Taking a deep dive into the baht rebound

The currency of Southeast Asia's second-largest economy traded against the greenback at 36.08 on Monday, appreciating 1.4% compared to a week prior.

Bangkok Post

Economist explains when we’ll know the recession is here and how long it will last

North Carolina economists last week told The Charlotte Observer they’re increasingly concerned about an impending recession.

Tribune News Service

Argentina's latest economy chief announces new agriculture pick

Argentina's incoming economy minister, dubbed a "superminister" due to his expanded portfolio, announced new secretary picks including for the key farm sector on Tuesday, part of the government's latest bid to reign in a severe economic crisis.

Reuters

Environmental and Covid challenges threaten Australia’s productivity rate after slowest growth in 60 years

Country generates seven times more output than in 1900, review finds, but remains ‘highly exposed’ to threats of climate change

The Guardian - AU

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Economy and Society, August 2, 2022: Governor DeSantis bans ESG criteria in state pension fund management

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

A Year on, Iran’s Raisi Faces Economy in Trouble

A year after Iran's President Ebrahim Raisi took power, his government has curbed the Covid pandemic but faces a sharp downturn of the sanctions-hit economy as nuclear talks remain stalled. Having pledged to help especially the poor, the ultraconservative cleric now faces runaway consumer prices that have sparked protests. Raisi…

Asharq Al-Awsat

War is stopping Ukraine from paying its debts -- here's how international powers can continue to support its recovery

Ukraine is burning through money fast. The invasion by Russia has been costly for the country. According to the International Monetary Fund, Ukraine’s GDP could shrink by 35% as a result of the war. The country’s international grain exports have been severely hampered, with a recent deal to restart exports…

The Conversation

India's unemployment lowest in 6 months at 6.80% in July: CMIE

MUMBAI: The country's unemployment rate in July fell to 6.80 per cent, the lowest level in the last six months, amid rising agriculture activities during monsoon, according to Centre for Monitoring Indian Economy (CMIE) data.

The Times of India

One in five nightclubs in Great Britain closed during Covid pandemic

Data shows only 1,130 nightclubs remain in England, Wales and Scotland – a 20% drop on March 2020

The Guardian - UK

U.S. job openings slid to 10.7 million in June

American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates

The Independent UK

2 Stocks That Could Be Long-Term Winners for Investors

With the economy reporting two consecutive quarters of GDP decline, many analysts believe that the economy has already entered a recession. During periods of market uncertainty, investors should look for stocks that could win in the long run based on their strong fundamentals and solid growth prospects. We think Pfizer…

StockNews.com

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Wales Online

Senior Tory says second homes crackdown will drive people away and depress house prices

Welsh Secretary Robert Buckland MP said people with long-term links to Welsh communities would be driven out by the second homes crackdown

Tribune News Service

Editorial: US, world face economic turmoil

Whether America is in a recession or not has yet to be officially determined. But unofficially, U.S. consumers may already believe that a downturn has begun and may be accelerating after a week of consequential economic news and months of rising prices.

Axios

Taiwan tensions eclipse China's economic slump

President Xi has de-emphasized the economy — and is focusing on building China's global status as a "great power."

Birmingham Post

Shift in consumer behaviour is crucial to success of sustainable shopping, report finds

A new report shows that there needs to be a sea change in how shoppers consume and view products to encourage them to engage in recycling and repair initiatives

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Bangkok Post

Tourism jump to power growth to 5-year high in 2023: Prayut

A faster-than-expected rebound in international visitors is putting Thailand’s economy on course to return to pre-pandemic growth by next year, according to the prime minister.

Birmingham Post

Cardiff economy thriving but lags on high wage employment says report

The Welsh capital is leading on GDP per capita but falling behind the UK and London on average earnings

ABC News

Wondering what the ACT budget means for you? Here are the five key takeaways

According to the latest ACT budget, the territory's economy is thriving, despite outside forces continuing to threaten Canberrans' hip pockets.

The Independent UK

Sri Lankans bide time as leaders seek fix for economic woes

Sri Lankans have endured months of fuel and food shortages

The Conversation

New Zealand is touting a green hydrogen economy, but it will face big environmental and cultural hurdles

In its plan to retool the economy, the New Zealand government highlighted green hydrogen as a game-changing fuel. It can indeed be used to make climate-friendly fertilisers and steel or to power some modes of transport that aren’t suited to batteries.

Tribune News Service

California facing risk of revenue shortfall as economy slows

California is likely to see revenue from its three major tax sources fall short of forecasts during the current fiscal year as a slowdown in the economy and the slumping stock market chip away at what had been surging tax collections.

Reuters

Argentina's economy superminister appoints top advisers

Argentina's new economy superminister appointed his top advisers on Monday, vowing to stop high inflation and the deterioration of the South American country's economy.

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