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The Latest Breaking News from Economy

Tencent, Other Chinese Companies Follow Western Counterparts In Laying off Staff As Economic Slowdown Weighs

Chinese tech giants like Tencent Holding Ltd (OTC:TCEHY) and TikTok parent ByteDance Ltd implemented fresh layoffs affecting thousands of employees in their latest round of cost-cutting, the Wall Street Journal reports. The job cuts added on to the tens of thousands of employees already axed by Chinese internet companies since late 2021 after the domestic regulatory crackdown crushed the…

Benzinga

Dallas-Fort Worth added nearly 295,000 jobs in the past year, triple its typical pace

The U.S. economy may be facing headwinds from inflation and higher interest rates, but the labor market is still on fire in North Texas.

Tribune News Service

The end of Roe v Wade will hurt poor women most, economists warn

Anti-abortion groups say that the ‘immeasurable’ talent lost to abortion has already battered the US economy.

Al Jazeera

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Scots spending less on food and other essentials as inflation batters economy

Rising costs and soaring fuel bills are being felt across the country and causing a sharp drop in consumer confidence.

Daily Record

Further questions about the £4.25m the Welsh Government spent on a farm for Green Man

It has emerged the founder of the Green Man festival will live at the site

Wales Online

Thailand eyes metaverse gains

The Ministry of Digital Economy and Society (DES) is pinning its hopes on Thailand becoming an early adopter of so-called metaverse technology and applying this for commercial use in order to reap the benefits.

Bangkok Post

Call grows for quick shift to digital economy

Thailand should look beyond tourism and make the transition to a digital economy to generate more revenue for the country, Jirayut Srupsrisopa, the founder and CEO of Bitkub Capital Group Holdings, said on Thursday.

Bangkok Post

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Bhutan to welcome tourists 'who can spend' for first time since COVID

Bhutan will reopen for international tourists from September for the first time since the pandemic began more than two years ago, officials said on Thursday, as the tiny Himalayan kingdom looks to revive its economy.

Reuters

Key inflation gauge tracked by the Fed remains a high 6.3%

A measure of inflation that is closely tracked by the Federal Reserve rose 6.3% in May from a year earlier, unchanged from its level in April

The Independent UK

Slightly fewer Americans apply for jobless claims last week

Slightly fewer Americans applied for unemployment benefits last week, reflecting a still robust job market despite increasing layoffs in some sectors of the economy that have cooled in recent months

The Independent UK

It's been a vicious 6 months for stocks. Here's what the grim markets are signaling

All that whipsawing on Wall Street in the first half of the year reflects real nervousness. Investors are worried the Fed may tip the economy into a recession.

WEKU

China to press on with 'zero Covid', despite economic risks, Xi Jinping says

HONG KONG: Chinese President Xi Jinping has reaffirmed the country's zero-tolerance approach to Covid-19 even though "it might hurt the economy".

Bangkok Post

North East is best UK region for inward investment jobs, new figures show

Companies including Amazon and Just Eat are among those to create jobs in the region - helping to create 5,843 new jobs in the last year

Birmingham Post

Candidates prioritize economy, security

"The economy and employment" is the most important issue for candidates running in the upcoming House of Councillors election, followed by "diplomacy and security," according to a Yomiuri Shimbun survey.

The Japan News/Yomiuri

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Evening Standard

Bank of England needs to guard against a wage price spiral

City Voices: Urgent medicine needs to be administered to the economy

Birmingham Post

Welsh business confidence remains stable despite slump in June

Firms in manufacturing, construction and hospitality reported a fall in confidence as optimism in the economy took a hit

Chicago Sun-Times

Federal Reserve chair Jerome Powell: ‘No guarantee’ Fed can tame inflation, spare jobs

Though economists worry that higher interest rates could push the nation into a recession, the Fed chair pointed to a strong labor market and said most households and businesses have healthy savings.

Bangkok Post

Bio Circular Green: powering four sustainable sectors

Climate change poses a serious threat to all countries, and is having a growing and unprecedented global impact. Recognising that no country is alone in this effort and that multilateral cooperation is needed, Thailand has demonstrated its commitment to addressing climate change by ratifying the United Nations Framework Convention on…

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Axios

Fear of a recession could become a self-fulfilling prophecy

The public feels that something isn't right.

Axios

Axios-Ipsos Latino Poll: Gun violence and crime surpass inflation as top concern

But the economy is still the most difficult issue for Democrats among Latinos.

Bangkok Post

Household debt-to-GDP dips to 89.2% in Q1

Thailand's household debt to gross domestic product ratio stood at 89.2% in the first quarter, slightly down from a revised 90.0% in the previous quarter, central bank data showed on Thursday, as the economy continued to recover.

Bangkok Post

China’s economy shows signs of improvement as Covid eases

China’s economy showed further signs of improvement in June with a strong pickup in services and construction as Covid outbreaks and restrictions were gradually eased.

Asharq Al-Awsat

US Disburses $1.3 bn of Promised Aid to Ukraine

The US Treasury Department announced Wednesday the transfer of $1.3 billion in economic aid to Ukraine as part of the initial $7.5 billion promised to Kyiv by the Biden administration in May. "With this delivery of economic assistance, we reaffirm our resolute commitment to the people of Ukraine as they…

The Independent UK

Asia stocks mixed after Wall St down, China manufacturing up

Asian stock markets are mixed after the U.S. economy contracted and China reported stronger factory activity

Reuters

Pakistan foreign minister calls for easing sanctions on Afghanistan

Pakistan's foreign minister called for an easing of Western sanctions against Afghanistan under the Taliban government, saying the basic functioning of the Afghan economy must not be endangered.

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