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The Latest Breaking News from Economy

Biden declares tentative rail agreement a "win"

"Together we reached an agreement that will keep our critical rail system working and avoid disruptions of our economy."

Axios

Biden's approval rating rebounds ahead of midterms

The public's perception of his handling of the economy and inflation still remains low.

Axios

Germany urges firms to make tax-free payments to employees

The German government is urging companies to make a one-off payment to their employees of up to 3,000 euros (dollars) as a way of addressing the impact of rising prices while preventing a spiral of inflation in Europe’s biggest economy

The Independent UK

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Biden announces deal to avert crippling railroad strike: ‘A win for tens of thousands of rail workers’

A strike by railroad workers would have crippled large swaths of the US economy and fanned the flames of inflation

The Independent UK

G7 nations to take tougher line on trade with China

Germany’s economy minister says the Group of Seven major economies have agreed to take a tougher, more coordinated stance toward China when it comes to trade

The Independent UK

William Ruto is now in charge of Kenya’s shaky economy: where to start

Kenya’s President William Ruto, sworn in as new President on 13 September 2022, has inherited an economy saddled with debt, inflation, joblessness and national pessimism. The International Monetary Fund has also added to his pain: it recently asked Kenya to broaden its tax base and scrap the fuel subsidy.

The Conversation

Rail strike averted with hours to go as Biden team pushes deal

U.S. railroads and unions reached a tentative deal early Thursday, a breakthrough that looks to avert a labor disruption that risked adding supply-chain strains to the world’s largest economy.

Tribune News Service

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US railroads, unions reach tentative deal on eve of deadline

U.S. railroads and unions reached a tentative deal early Thursday, a breakthrough that looks to avert a labor disruption that risked adding supply-chain strains to the world’s largest economy.

Tribune News Service

Railroad strike averted: With tentative deal, Metra trains may run as scheduled

President Joe Biden says a tentative railway labor agreement has been reached, averting a strike that could have been devastating to the economy before the midterm elections.

Chicago Sun-Times

Saudi Crown Prince Launches National Gaming and Esports Strategy

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Deputy Prime Minister and Chairman of the Council for Economic and Development Affairs, unveiled the National Gaming and Esports Strategy that marks the beginning of a new era toward leading the gaming sector and making the Kingdom a global hub…

Asharq Al-Awsat

Sri Lanka's economy shrinks 8.4% amid fertiliser, fuel shortages

Sri Lanka's economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation's most severe financial crisis in more than seven decades.

Reuters

Analysis-Lula unlikely to repeat Brazil state bank lending binges

Over more than a decade in power, Brazilian leftist Luiz Inacio Lula da Silva and his handpicked successor used state banks to bolster corporate "national champions" and major sectors their Workers Party saw as essential to the economy.

Reuters

Plan to axe banker bonus cap condemned as ‘obscene’ amid pay cuts and ‘huge risk’ to economy

’Nurses given real-terms pay cuts. City executives given unlimited bonuses,’ TUC chief says

The Independent UK

There's a solution to the labor shortage

The economy's improving fast — but now we can supercharge it by offering legal status to undocumented workers

Salon

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WEKU

Biden says tentative railway labor deal has been reached, averting a strike

President Joe Biden said Thursday a tentative railway labor agreement has been reached, averting a potentially devastating strike before the pivotal midterm elections.

Reuters

India plans no more funding for Sri Lanka as IMF talks progress - sources

India does not plan to provide fresh financial support to Sri Lanka on top of the nearly $4 billion it has extended this year, two sources told Reuters, as the island's battered economy starts to stabilise after a preliminary loan agreement with the IMF.

Axios

White House says tentative deal reached to avoid rail strike

"The tentative agreement reached tonight is an important win for our economy and the American people," President Biden said.

The Independent UK

Biden approval rating jumps up to 45%

Poll shows economy continues to be a source of weakness for the president

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Reuters

German economy minister sees possible victory for democracy in Ukraine

German Economy Minister Robert Habeck said on Thursday he could see the possibility of victory for democracy in Ukraine and vowed to send more weapons as the country battles to extend its territorial gains against Russia.

Reuters

German economy minister: Ukraine says it needs 350 billion dollar for reconstruction

German Economy Minister Robert Habeck said on Thursday Ukraine needs 350 billion dollars for reconstruction, according to Kyiv's own estimates.

Asharq Al-Awsat

Circuit Chief: F1 Unlikely to Return to Malaysia Anytime

Formula One is unlikely to return to Malaysia anytime soon as the government focuses its efforts on rebuilding the economy from the ravages of the coronavirus pandemic, the circuit's boss said. Azhan Shafriman Hanif, chief executive of the Sepang International Circuit which used to host the race, told reporters in…

The Independent UK

Biden's tight spot: a union backer out to avert rail strike

President Joe Biden believes unions built the middle class

The Independent UK

Biden approval rises sharply ahead of midterms: AP-NORC poll

President Joe Biden’s popularity has improved substantially from his lowest point this summer, but concerns about his handling of the economy persist

The Guardian - AU

New Zealand avoids recession as eased Covid measures help spur 1.7% GDP growth

After a decline in the previous quarter, the economy rebounded on the back of spending on travel and recreation

The Guardian - AU

Australia’s unemployment rate rises slightly from 3.4% to 3.5% as more people seek work

Labour market figure will be watched by economists as a guide to Reserve Bank’s decision on whether to further raise interest rates

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