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The Latest Breaking News from Economy

Democrats have high hopes as midterms campaign kicks off with first mail-in ballots sent to voters

The midterm congressional campaign officially began Friday with Democrats facing a much-improved electoral environment amid a string of political wins, a strengthening economy and widespread anger over loss of abortion rights.

Tribune News Service

Minister eyes quick aid for small firms

Deputy Prime Minister Supattanapong Punmeechaow has stressed the need to speed up help for micro, small and medium-sized enterprises (MSMEs) that are still reeling from the impact of Covid-19, as the move can stimulate efforts to restore the pandemic-ravaged economy.

Bangkok Post

India stays out of Indo-Pacific trade pillar

LOS ANGELES: India has chosen to opt out from joining the trade pillar of Indo-Pacific Economic Framework’s (IPEF) for its legitimate concerns regarding the possibility of binding conditionalities linking the same to issues like environment and labour. Union commerce minister Piyush Goyal listed the reasons for opting this decision —…

The Times of India

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Inflation shows no sign of slowing down in America and interest rate hikes will likely continue, warns top US economist

Loretta Mester is one of the 12 people who determine the official interest rate in the United States, and she has a grim warning for American households already struggling to pay their bills.

ABC News

2 Defensive Stocks to Hold Through Any Recession

Aggressive interest rate hikes by the Fed to bring the multi-decade high inflation under control and a slowing economy are raising the possibilities of a recession. Amid such a volatile market scenario, we think investors should hold fundamentally sound defensive stocks Coca-Cola (KO) and PepsiCo (PEP) to sail through any…

StockNews.com

Be more positive of our achievements: Nirmala Sitharaman

Union Finance Minister all praise for ‘inspirational work’ of BusinessLine Changemaker award winners

The Hindu

The White House's new push to define Bidenomics

The White House is talking about the Biden economic record as something to embrace, a shift heading into the midterms.

Axios

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Barbarian Is Nightmare Fuel for the Sharing Economy

The ultimate Airbnb horror story.

Reason

How to Make Sense of Today’s Confusing Stock Markets

The market continues to confound and confuse both bulls and bears alike...The hope that a new bull market began in mid-June has been extinguished by the S&P 500 (SPY) declining from 4,300 to 3,900. While the bears continue to be stymied by an economy that continues to be more resilient…

StockNews.com

Hong Kong ranked the world’s freest economy by Canadian think tank for the 26th time in a row

Think-tank says it was difficult to assess how much impact China’s ‘economic and political crackdown’ or coronavirus had on the rankings

The Independent UK

Ukraine needs ‘radical’ reform to sustain war effort, warn economists

Anti-corruption measures and progressive taxes among actions recommended by leading academics

The Guardian - UK

EU Ministers Seek Ways to Face Energy Shock

EU energy ministers on Friday will attempt to forge a united response to the energy shock from Russia's war on Ukraine that has sent prices for electricity and heating skyrocketing. Moscow's invasion has seen the price of natural gas hit record levels, throwing the EU economy into deep uncertainty with…

Asharq Al-Awsat

Germany's neighbours reluctant to sign gas sharing pacts - newspaper

Germany's neighbours are reluctant to sign bilateral agreements with Berlin on sharing gas in an emergency, Welt newspaper reported on Thursday, citing an economy ministry document.

Reuters

Truss’ policy will suppress inflation but stoke interest rates

While the policy will reduce inflation in the near term, by supporting economic activity it will boost inflation further ahead

Evening Standard

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Benzinga

Gilbert Family Foundation Launches Venture 313, Building On Support Of Detroit's Entrepreneurial Ecosystem

The Gilbert Family Foundation on Thursday announced the launch of Venture 313, a three-year, $10 million commitment that will help fulfill Detroit’s entrepreneurial potential and provide founders with opportunities to participate in the innovation economy.

The Guardian - UK

Germany to extend energy subsidies to smaller firms amid closure fears

Economy minister says ‘demand shock’ must be addressed, as economists raise fears of recession

Manchester Evening News

“I believe many businesses will still be forced to close” - Sacha Lord wants clarity for hospitality industry as energy support announced

The night-time economy advisor believes new measures will not be enough to avoid closures and redundancies

Axios

European Central Bank unveils the biggest interest rate hike in its 24-year history

The super-sized interest rate hike comes at a staggering moment for the eurozone economy.

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The New Daily

RBA boss Philip Lowe flags slower rate hikes, rebukes critics calling for his resignation

Reserve Bank governor Philip Lowe has foreshadowed slower mortgage bill hikes later this year as the bank grapples with massive uncertainties about the outlook for soaring inflation and the economy.

Liverpool Echo

Northern transport decline 'inevitable' without government investment

Transport for the North has called on the government for investment to transform the economy

The Japan News/Yomiuri

CCP on shaky ground ahead of party congress / Zero-COVID policy takes toll on Chinese economy

The Chinese government is facing a number of challenges as it prepares for the Communist Party Congress next month. This is first in a three-part series analyzing the issues.

Los Angeles Times

Commentary: Can space save Earth?

The world economy is in the doldrums, pessimism is rife around the world, and most young people, according to one survey, believe climate change means the end of human life on Earth.

The Hindu

Every citizen should be proud of India becoming world's fifth largest economy, says PM Modi

The Prime Minister interacted with some of the beneficiaries and appealed to farmers to switch to natural farming

WEKU

Poll: Abortion and inflation collide as top issues in midterm elections

Democrats and many independents are motivated by the issue of abortion, while Republicans have the advantage on the economy, according to a new NPR/PBS NewsHour/Marist poll.

Tribune News Service

Stuart Rothenberg: Learning from the 1998 and 2002 midterms

The 1998 and 2002 elections remain the only times since 1932 that the president’s party has gained House seats in a midterm. Do those elections tell us anything about this year’s election?

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