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The Latest Breaking News from Economy

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.

Reuters

Rising inflation weakens outlook for Scottish economic growth in 2023

The Scottish economy had shown healthy growth before contracting in April, but the cost of living crisis, inflation and interest rate rises are…

The National (Scotland)

Kate Forbes in talks to help smash ‘green ceiling’ for women

CLIMATE youth delegates from Renew the World met with the Scottish Government’s Finance and Economy Secretary Kate Forbes at the Scottish…

The National (Scotland)

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Soaring inflation to hit Britain harder than any other major economy

To address inflation, the Bank of England warns it may need the option of half-point interest rate rises

Wales Online

In Philippines, fears for labour rights as Marcos takes power

Labour organisers are sceptical that incoming president will prioritise better working conditions in the gig economy.

Al Jazeera

Scottish business confidence dips, but prospects on the up

Optimism in the economy plummeted in June - down 47 points at 5% - as firms struggled with mounting economic headwinds

Insider UK

Prayut vows EV production within year

Thailand aims to assemble electric vehicles (EVs) domestically within a year, faster than the previous target of 2024, says Prime Minister Prayut Chan-o-cha.

Bangkok Post

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UK faces bigger and faster recession than other European countries, Bank of England warns

Andrew Bailey said the UK economy had reached a ‘turning point’

The Independent UK

World Bank views Thai uptick at 2.9%

Thailand's economy is expected to expand by 2.9% in 2022, unchanged from a forecast in April, supported by private consumption and a tourism recovery, according to the World Bank.

Bangkok Post

Alan Kohler: A recession we don’t have to have is coming, and it will be the RBA’s fault

The RBA has turned on a sixpence, from smiling benignly and welcoming some inflation to sprouting horns and bringing on a recession we didn't have to have.

The New Daily

Needham's Developer Checks For Wix.com Highlight Continued Funnel Weakness

Needham analyst Bernie McTernan reiterated a Buy rating and $85 price target on Wix.com Ltd (NASDAQ:WIX) following a round of web developer checks. He spoke with 22 developers in the WIX Marketplace to shed light on the broader funnel. They did not indicate any improvement. Failure of the funnel to return puts his 2H'22E and…

Benzinga

UK will face worse inflation than other major economies, says Bank governor

Andrew Bailey said inflation would persist for longer than previously expected as petrol prices soar

The Guardian - UK

Economic View Of The Australian Dollar

As fears that a recession is just around the corner for the US, some economists are warning that Australia could follow suit. Some, however, remain bullish on the Australian economy due to high household savings, strong commodity exports, accommodative government stimulus and a robust pipeline of residential building constructions.

Benzinga

Women on TikTok plan purchasing boycott in protest of Roe v Wade reversal: ‘No buy July’

‘Biggest protest is disrupting the economy’

The Independent UK

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Benzinga

As US Economy Weathers Inflation, GDP Growth Turns Negative: Are We Headed For A Recession?

For the first time since the start of the COVID-19 pandemic in 2020, the Bureau of Economic Analysis has reported a decrease in real gross domestic product –— GDP.

The Independent UK

Most say nation on wrong track, including Dems: AP-NORC poll

A new poll shows an overwhelming and growing majority of Americans say the U.S. is heading in the wrong direction, including nearly 8 in 10 Democrats

The Guardian - UK

Crypto crisis: how digital currencies went from boom to collapse

Savers talk of devastating losses as assets such as bitcoin and ‘stablecoins’ like terra fell sharply

The Independent UK

Powell: 'No guarantee' Fed can tame inflation, spare jobs

Federal Reserve Chair Jerome Powell said there’s “no guarantee″ the central bank can tame runaway inflation without hurting the job market

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Al Jazeera

Sudan’s economy dominated by military interests: Report

C4ADS report says crackdown on patronage networks was a contributing factor to last October’s coup.

Tribune News Service

Xi is finally leaving mainland China after 893 days at home

President Xi Jinping is set to finally leave mainland China after 893 days at home, even as he still trumpets a COVID zero policy that has isolated the world’s No. 2 economy diplomatically amid rising geopolitical tensions.

Reuters

Analysis-Tunisia's Saied poised for more power but economy crumbles

President Kais Saied looks on course to tighten his grip on Tunisia through a constitutional referendum in July, but it could prove to be a poisoned chalice as the economy sinks deeper into crisis and opposition to his rule widens.

Benzinga

Why U.S. Stocks Are Trading Higher, GDP Report And More

U.S. stocks traded higher this morning, with the Dow Jones gaining around 180 points on Wednesday.

Wales Online

Reform needed for towns and small cities to benefit from full 5G – new research

The report warns that the difference between an attractive and an unattractive investment environment is worth £7bn per year to the UK economy by 2030

The Independent UK

US economy slipped 1.6% to start year; return to growth eyed

The U.S. economy shrank at a 1.6% annual pace in the first three months of the year even though consumers and businesses kept spending at a healthy pace, the government reported Wednesday in a slight downgrade from its previous estimate for January-March quarter

Axios

Discounts coming: We have too much stuff

Wholesale and retail stockpiles continue to mount just as demand seems to be slowing.

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