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The Latest Breaking News from Economy

Biden’s long-game economic success story

The president has slowly but substantially re-engineered significant parts of the American economy.

Axios

‘Keep economy in mind while making estimates for next budget’

Money constraints faced by the government call for austerity in the budgeting exercise, Finance department says

The Hindu

Era of soaring house prices is ending as central banks raise rates

Policies are tightening when major economies are either falling into recession or heading that way

The Guardian - UK

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Workers are being punished for inflation. The real culprit is corporate greed

Big corporations are using inflation as cover to raise prices. Yet the US Federal Reserve is raising interest rates – further hurting Americans

The Guardian - US

Celebrities and tourists are flooding into Greece. But a harsh winter isn’t far off

Despite a huge increase in visitor numbers this summer, the Greek economy remains fragile and vulnerable

The Guardian - UK

Meet the Russian architect of Putin’s economic counterattack

When sanctions made the Fortress Russia he helped build seem less impregnable, Maxim Oreshkin came up with a signature gambit to try and break the economic siege.

Tribune News Service

IMF warns of seven factors which leave global economy at risk of perfect storm

The International Monetary Fund has warned that seven factors are undermining growth expectations, suggesting that the worst-case scenario would cut global economic growth to 2 percent in 2023, the lowest level in over five decades.

Radio France Internationale

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Liz Truss 'absolutely delighted' to have Tom Tugendhat endorsement

Liz Truss says she is 'absolutely delighted' that her former Tory leadership rival Tom Tugendhat has endorsed her campaign.Tugendhat, who described Truss as being “founded on true Conservative principles” came out in support of her vision for “a growth economy.” The Chairman of the Foreign Affairs Committee also praised Truss’s…

Evening Standard

Who are the eight economists who decide when the US is in a recession?

The US Commerce Department on Thursday announced that the country’s gross domestic product had fallen for the second consecutive quarter, although President Joe Biden said the economic data overall “doesn’t sound like a recession”. In most countries, two successive quarters of GDP decline qualify as a recession – but not…

France 24

Brexit is a flop, and the voters know it. So why can’t Labour call for a closer bond with Europe?

The result of the referendum cannot be ignored, but a bespoke deal with the EU has to be pursued if we are to avoid a shrinking economy

The Guardian - UK

Chinese factory activity sinks, weighing on weak economy

An official survey shows Chinese manufacturing’s recovery from anti-virus shutdowns faltered in July as activity sank

The Independent UK

Traders share problems with mayor Sanyukta Bhatia, minister of state Dayashankar Dayalu

LUCKNOW: To discuss the road map for boosting the economy of the state, the association of traders held a conclave on Saturday. Raising their demands before the UP government, the office-bearers of the association discussed the hurdles they face in daily operations with minister of state Dayashankar Dayalu and mayor…

The Times of India

If recession hits the UK, a base rate rise is the last thing we need

This week’s decision on interest rates will be fraught, but many think Britain is heading the same way as the US

The Guardian - UK

Liz Truss: Who is the foreign secretary hoping to become prime minister?

Social media savvy ‘human hand grenade’ seen as continuity candidate and currently ahead of Rishi Sunak thanks to questionable tax promises and neo-Thatcherite branding

The Independent UK

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Benzinga

How The Stock Market Affects Real Estate Investments

When someone is investing their money or planning to invest it for at least some time, they usually look at the options of buying real estate or stocks. Some might choose to concentrate on either the housing market or on buying stocks while others choose to diversify their investment and…

Bangkok Post

Havana plans blackouts as Cuban economy reels

HAVANA: The Cuban capital Havana will begin electricity blackouts in August, has cancelled its annual carnival and is taking other measures as the country’s energy crisis worsens, state media reported on Saturday.

Evening Standard

Rishi Sunak says Truss’s tax-cutting plans will create ‘sugar rush boom’

Rishi Sunak said rival Liz Truss’s plans for vast tax cuts would “put fuel on the fire” of the inflation problem and create a “sugar rush boom”.Veteran political journalist Andrew Neil challenged the Tory leadership hopeful over his plans to tighten fiscal policy in a time when “the global economy…

Bangkok Post

World Bank refuses new funding for Sri Lanka

COLOMBO: The World Bank has told Sri Lanka it will not offer new funding unless the bankrupt country carries out “deep structural reforms” to stabilise its crashing economy.

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The Japan News/Yomiuri

Political Pulse / Would legalized gambling pollute the clean image of Japanese sports?

A draft proposal by the Economy, Trade and Industry Ministry (METI) to lift the ban on sports betting has caused a stir in Japan. While there are those who accept the idea that it will help revitalize the sports industry, others argue that such a move should not be rushed…

The Guardian - US

How strong is the US economy? Depends on which party you ask

Analysis: In spite of high employment and robust hiring, many Americans are pessimistic about the economy

The Guardian - AU

Karnal bunt and khapra beetle: seven threats to Australian biosecurity

Along with foot-and-mouth disease, there are other pests and diseases that could damage our economy and rural communities

Reuters

Analysis-Same dire problems, new chief: Can Argentina solve economy riddle?

Argentina's incoming economy chief, the crisis-racked country's third in a less than a month, may be its last best chance to right a sinking ship, or at least avoid further deterioration ahead of a high-stakes election next year.

WEKU

What is a recession? Wikipedia can't decide

An editing battle over its "recession" entry prompted Wikipedia to put a temporarily lock on revisions to prevent new users from repeatedly changing the definitions of recession.

Bangkok Post

Sea celebrates a decade of growth

Thailand's digital economy has been scaling up over the past decade thanks to the power of various internet firms and one of the key players is Sea (Thailand), the local unit of the Nasdaq-listed firm Sea, which is behind e-commerce powerhouse Shopee.

Bangkok Post

Healthy earnings, less aggressive Fed lift shares

Recap: European and US stocks advanced yesterday amid positive corporate earnings reports and the prospect of less aggressive rate hikes from the US Federal Reserve. Hong Kong and Chinese markets pulled back as tech stocks corrected and the Chinese government signalled limited new stimulus ahead.

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