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The Latest Breaking News from Economy

French Cycling defends decision to fly elite men in business class but women in economy

The French Cycling Federation with hit with a wave of criticism after they opted to fly their elite men's team to the Cycling World Championships in Australia while the women travelled in economy

Daily Mirror

How the U.S. Paid for the Civil War

Lincoln's wartime governance had dire, and longstanding, economic consequences.

Reason

How Railroad Unions Almost Broke the Economy

The narrowly averted strike would have been an economic catastrophe. The story of how we reached the brink of that disaster is an illustrative one.

Reason

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Nearly two-thirds of Argentines see economy getting even worse: poll

Nearly 64% of Argentines fear the country's ailing economy will get even worse in the coming months, according to a survey published on Friday, against a backdrop of surging inflation and the weakening purchasing power of the peso currency.

Reuters

Post-Pandemic Unwind? 4 FedEx Analysts Talk Pre-Earnings Miss

FedEx Corporation’s (NYSE: FDX) stock dropped on Friday morning following its pre-earnings report on the status of the world economy, which some experts are referring to as a post-COVID-19 pandemic unwind.

Benzinga

Germany working on nationalisation of three major gas companies in historic bid

GERMANY is reportedly in advanced talks to nationalise three large gas importers in a bid to prevent the collapse of its energy market.

The National (Scotland)

Companies declared insolvent in England and Wales jump by 43%

Businesses may struggle as consumers cut back spending amid high inflation and rising fuel costs, economists warn

The Guardian - UK

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Pound sinks to new 37-year low

The pound has hit a new 37-year low against the dollar as new official retail figures painted a bleak picture of the UK's economy.

The Independent UK

Online payments: A headache for Ivory Coast’s e-merchants

The e-commerce market is booming in Ivory Coast, French-speaking Africa’s largest economy. Currently worth around €46 million, it’s set to grow even more in coming years alongside the population. However, e-traders face a host of systemic challenges, from high transfer fees to restrictions on global online payment platforms such as…

France 24

SCO Summit 2022: Ready to share India's Startup experience with SCO members, says PM Modi

"India's economy is expected to grow at 7.5 per cent this year, which will be the highest among the world's major economies." Read more on Dynamite News:

Dynamite News

West Lothian taxi shortage could hit recovery of night-time economy

Bathgate's night-time economy is struggling back on its feet after a two year lockdown. That has been made more difficult with the frustration of customers finding it difficult to get home as the number of taxis plummets

Edinburgh Live

Liz Truss deflecting on 'rubbish' leadership with Treasury attack, ex-civil service boss says

LIZ Truss is attacking the Treasury to deflect from years of “rubbish” leadership on the UK economy, a former civil service chief has said.

The National (Scotland)

Zimbabwean bakers’ profits crumble amid Russia-Ukraine crisis

Zimbabwe’s bakers are losing staff and profits as Russian invasion of Ukraine disrupts global economy.

Al Jazeera

Pound falls as weak retail sales raise fears UK economy is in recession

On Black Wednesday anniversary, sterling hits 37-year low against dollar and 17-month low against euro

The Guardian - UK

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Reuters

Lithuanian minister says Taiwan office a 'very important step'

The opening of the Lithuanian representative office in Taiwan is a "very important step" for both democracies and the two are on a good track for economic cooperation, a visiting vice minister from the Baltic state said on Friday.

Daily Record

Livingston boss admits club may have hit financial 'brick wall' as they start to feel impact of covid and economic downturn

The Lions gaffer confessed he may not be able to continue to offer pay rises to players as the impact of covid and the economy starts to bite.

The Guardian - AU

Interest rates all but certain to rise in October but end of big hikes nearing, RBA governor says

Reserve Bank board will consider either a 25 or 50 basis point rise at next month’s meeting, Philip Lowe tells MPs

ABC News

More interest rate rises ahead but pace of increase set to slow, RBA governor says

Reserve Bank governor Philip Lowe says he will keep lifting interest rates but the pace will soon slow down and he is confident the economy can absorb the rises.

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ABC News

ASX dives again amid rate rise and recession fears, gold and oil stocks fall

The ASX and Wall Street stumble again on worries about steep interest rate rises next week by the Federal Reserve, and after the Reserve Bank governor says more rate rises are needed to curb inflation. The World Bank warns of a global recession because of higher rates.

Bangkok Post

Developers seek gradual rise in land, building tax

Property developers have urged the government to reconsider full collection of the land and building tax, suggesting a step-by-step increase, starting from a discounted rate of 50-75% during 2023-25 as the economy is fragile.

Bangkok Post

UTCC survey suggests recovery on course

Despite the global economic slowdown, the Thai economy remains on course for a recovery, according to a recent business survey.

ABC News

Sydney News: Major events tipped to give economy shot in the arm

MORNING BRIEFING: Sydney is preparing for a series of major music, art, culture and sporting events in spring and summer.

Benzinga

Founder Of World's Largest Hedge Fund Rails Against Fed, Predicts 20% Stock Plummet

The Federal Reserve's raising of interest rates could bring the economy "down," according to billionaire Ray Dalio. In a recent LinkedIn post, the Bridgewater Associates founder said increasing interest rates to about 4.5% — meant to offset inflation — will cause stock prices to plummet by 20%.

Tribune News Service

Soft retail sales, fewer jobless claims paint mixed US economic picture

A barrage of data Thursday offered a mixed view of the U.S. economy in the face of rapid inflation, including more tempered retail activity and a labor market that’s still vibrant.

The Independent UK

Concerns grow as Nigeria's inflation surges to 17-year high

Nigeria’s consumer inflation surged to 20.5% in August, its statistics agency said Thursday, signalling more hardship for citizens and businesses in Africa’s largest economy

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