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The Latest Breaking News from Economy

Northern Ireland economy growing, but yet to recover 2007 lustre

Economic output just 0.2% peak hit 15 years ago but headwinds mean that level unlikely to be breached

Birmingham Post

'We have to strengthen security' after Nord Stream pipeline damage: EU's Gentiloni

"Serious damage" caused by "substantial explosions – not done by an amateur". That's the assessment of the EU’s Economy Commissioner Paolo Gentiloni after gas leaks were discovered in the Nord Stream pipelines between Russia and Germany earlier this week. The former Italian prime minister tells FRANCE 24 that currently there…

France 24

Why IMF comments on the UK economy spooked traders and investors

Everyone from political pundits to people on the street have issued forth on the new UK government’s tax cut-laden growth plan recently. But it was a rare public rebuke from the International Monetary Fund (IMF) that really impacted financial markets.

The Conversation

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Resilient US consumers spend slightly more in August

Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials

The Independent UK

'Out of his depth': Kwarteng urged to quit as Chancellor after destroying economy

CHANCELLOR Kwasi Kwarteng is being urged to quit after taking a “wrecking ball” to the UK’s finances.

The National (Scotland)

Explainer: Why Did The Bank Of England Lay Down $72B To Prevent A 'Lehman Moment'?

The UK’s central bank unpacked a whopping £65 billion ($72 billion) on Wednesday in a desperate attempt to steer the economy back to stability.

Benzinga

1 Stock to Avoid as the Fed Attempts to Cool Down the Economy

Shares of online real estate services company Opendoor Technologies (OPEN) have plummeted more than 75% in price year-to-date with the cooling down of the housing market amid rising interest rates. Furthermore, the company is expected to incur huge losses in the upcoming years. Hence, with the Fed signaling aggressive rate…

StockNews.com

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High inflation, bleak global outlook: Why RBI hiked repo rate by 50 bps

NEW DELHI: A stubbornly high inflation and persistently falling rupee promoted the Reserve Bank of India's (RBI) monetary policy committee (MPC) to raise benchmark lending rates for the 4th time in a row on Friday.

The Times of India

Emily Sheffield: Voters are unlikely to forget Liz Truss’s gamble with Britain’s economy

“Are you ashamed of what you’ve done?” This was just one of many barbed questions the Prime Minster had to face down yesterday in a painful round of regional BBC interviews. This was planned to persuade the country and allay fears. Instead, it was a car crash. Anxiety in the…

Evening Standard

UK is only G7 country with smaller economy than before Covid-19

ONS says GDP grew by 0.2% in three months to June, suggesting Britain is not in recession

The Guardian - UK

UK fiscal watchdog to release analysis of tax-cutting plan

The U.K.’s Office of Budget Responsibility says it will deliver an initial analysis of the government’s economic plan on Oct. 7 following a meeting Friday with Prime Minister Liz Truss

The Independent UK

The huge fallout from the mini-Budget has quelled its positive growth measures

Chancellor Kwasi Kwartang should have asked to independent Office for Budget Responsibility to assess the impact of his mini-Budget

Birmingham Post

Immigration, abortion and economy expected to take center stage when Abbott, O’Rourke debate Friday

The debate, the candidates’ first and likely only one before the November election, begins at 7 p.m. Central time in Edinburg.

The Texas Tribune

French minister criticises Liz Truss for provoking UK economic disaster

France's Economy Minister Bruno Le Maire said on Friday that he was worried by the financial turbulence in Britain, criticising Prime Minister Liz Truss's economic policies for causing a "disaster" of high borrowing rates for her country.

Radio France Internationale

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The Independent UK

China manufacturing weak, adding to economy pressure

Two surveys show growth in Chinese manufacturing was weak in September, export orders fell and employers cut jobs

The Independent UK

Bosnia election expected to re-legitimize a failing system

Bosnia’s general election should be about fighting rampant corruption and the country’s ailing economy

Evening Standard

UK economy grows slightly in second quarter

It means the UK might not currently be in recession, as was predicted by the Bank of England earlier this month.

The Independent UK

How Kwasi Kwarteng’s budget damaged the economy and what will happen now

Policy Correspondent Jon Stone unpacks how unfunded tax cuts pulled the rug out from under the UK economy

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Daily Record

Scots Tory secretary claims Liz Truss's tax cuts are 'small' as he takes swipe at the BBC

Since the Chancellor's mini budget on Friday the economy has tanked due to the unfunded tax cuts which run into the tens of billions.

Tribune News Service

Ramesh Ponnuru: The moral case for higher interest rates

Federal Reserve Chair Jerome Powell’s efforts to cool down the economy are causing progressive criticism to heat up. He has been accused of wanting a “brutal” recession, trying to “throw millions of Americans out of work” and using “dangerous” rhetoric. And those are the comments of just one senator, Elizabeth…

Bangkok Post

Economy still in recovery in August on tourism rebound

Thailand’s economy was still on a path to recovery in August on rebounding tourism and domestic demand, which would continue to support economic activity, the Bank of Thailand (BoT) said on Friday.

ABC News

The week that was for Prime Minister Liz Truss and the UK economy

The UK's economy is in dire straits just three weeks after Prime Minister Liz Truss took up the top job. But it was last Friday's so-called "mini-budget" which has led to a mega drama.

Wales Online

UK economy grows slightly after predicted decline

It grew 0.2% in three months to June 2022

Bangkok Post

Productivity Improvement Measures – Focusing on Digital

The Productivity Challenge

The Independent UK

'Big impact': UK economic chaos, pound plunge hit businesses

The British government’s economic stimulus plan is designed to help people and businesses by cutting taxes and growing the economy

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