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The Latest Breaking News from Economy

Mexican economy minister resigns, dealing blow to trade team amid U.S. talks

Mexican Economy Minister Tatiana Clouthier stepped down on Thursday, depriving Mexico of one of its key trade negotiators as her government scrambles to head off a major dispute over energy with the United States and Canada.

Reuters

World Bank pares India FY23 growth projection to 6.5%

The Indian economy’s expansion is expected to speed up to 7% in the next fiscal year, before settling back down to 6.1% in FY24-25

The Hindu

More Americans apply for jobless benefits last week

More Americans filed for unemployment benefits last week, but the labor market remains strong even in the face of persistent inflation and a slowing overall U.S. economy

The Independent UK

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World Bank downgrades India's economic growth forecast to 6.5% for FY23

WASHINGTON: The World Bank on Thursday projected a growth rate of 6.5 per cent for the Indian economy for the fiscal year 2022-23, a drop of one per cent from its previous June 2022 projections, citing deteriorating international environment.

The Times of India

Putin: Russia expects sanctions pressure to increase

Russian President Vladimir Putin on Thursday said that consumer demand remained weak and that he expected sanctions pressure on the Russian economy to intensify, in televised remarks from a meeting with government officials.

Reuters

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

What economy chaos will mean for Merseyside mortgages

New analysis shows hundreds of pounds will be added to payments as Labour tells government to reverse plans

Liverpool Echo

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The click-and-collect economy worth more than £1bn in Wales

The service grew during the pandemic and has continued to grow after lockdown restrictions lifted

Birmingham Post

Keir Starmer repeatedly refuses to back striking workers

Labour leader repeats opposition to joining picket lines, as nursing union prepares to ballot members

The Guardian - UK

Judge Fines Lebanese Bank Heist Figure, Issues Travel Ban

A Lebanese judge on Thursday fined and issued a six-month travel ban to a woman who stormed her bank with a fake pistol and took her trapped savings to cover her sister's cancer treatment. Lebanon’s cash-strapped banks have imposed strict limits on withdrawals of foreign currency since 2019, tying up…

Asharq Al-Awsat

Asian stocks mixed on strong US hiring, OPEC oil output cuts

Asian stocks are mixed after strong U.S. hiring dampened hopes the Federal Reserve might ease off plans for interest rate hikes and the OPEC oil production cartel agreed to shore up prices by cutting output

The Independent UK

New economic index reveals the toll policy uncertainty can have on your investments

The COVID-19 pandemic created a sense of uncertainty and fear across all aspects of life in New Zealand. Along with concerns about health and well-being, many wondered what impact the pandemic would have on the economy and economic policy.

The Conversation

Committee forecasts at least 3% GDP uptick

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has inched up its 2022 GDP forecast, expecting the economy to grow by at least 3%, driven by the gradual recovery of the tourism industry.

Bangkok Post

Interest gap could spell economic peril

On a recent Monday, the Fed called an emergency meeting. The discussion topics were not made known. Could it possibly be about turmoil in the UK bond market and the financial troubles of large investment banks? At this fragile time, the world cannot afford another Lehman Brothers-type disaster.

Bangkok Post

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Belfast Live

Ballymaconaghy Road housing development consultation to launch soon

"The development proposals will deliver the provision of 60 construction jobs and an investment of £50 million in the local economy."

Newcastle Herald

Nuclear pushback against Senate bill

Nuclear power in Australia would increase electricity costs, slow the transition to a low-carbon economy and introduce the potential for catastrophic accidents, a new Australian Conservation Council report says.

The National (Scotland)

Scotland’s report card reveals ‘big picture’ on how the country is performing

A NEW report card has set out how Scotland is performing in key areas ranging from education and the economy to health and culture.

The Guardian - AU

Yes, the heat is coming off the housing market. But it wasn’t just on fire last year - it was burning uncontrolled

We have an economy where even a slight fall in prices will do little to repair the damage of the past two years

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Tribune News Service

OPEC+ tries to keep oil above $90 with large production cut

OPEC+ agreed to cut its collective output limit by 2 million barrels day, stoking tensions with the U.S. as the cartel seeks to halt a slide in oil prices caused by the weakening global economy.

Foreign Affairs

How China Trapped Itself

The CCP’s economic model has left it with only bad choices.

France 24

OPEC+ agrees to cut oil production to boost prices

The OPEC+ alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections.

The National (Scotland)

Tory budget makes life harder for Scots, say top economists as recession predicted

Researchers at the Fraser of Allander Institute (FAI) have revised down their forecasts for the coming months and have predicted the economy will…

The Conversation

Truss cut the most popular taxes -- this wasn't an accident, but it may be a mistake

The recent U-turn on cutting the top rate of income tax has shown that even a government willing to “do unpopular things” to grow the UK economy is constrained by the need for public support.

The Conversation

Construction waste is costly: what's causing it on South African building sites

The construction industry contributes significantly to a country’s economy through infrastructure development. The industry has expanded rapidly worldwide and further growth is expected.

France 24

India expands digital footprint but faces censorship and blackouts

In less than a decade, India's digital penetration has more than doubled to reach over 50 percent of its 1.3 billion residents. It's all part of PM Narendra Modi's ambitious plan to turn the country into a trillion-dollar digital economy. As a result, there has been a surge in social…

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