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The Latest Breaking News from Economy

Major warning on economy as gilt yield curve turns upside down

UK government debt market sends ominous and closely-watched warning on darkening economic outlook

Evening Standard

11 crisis issues in Liz Truss's bulging in-tray now she will be Prime Minister

The new Prime Minister inherits an economy that is juddering towards recession, a hike in energy bills and businesses on the brink of bankruptcy, writes Assistant Editor Jason Beattie

Daily Mirror

Democrats look to prove economic credentials in battle for midterms

Party aims to reframe narrative that Republicans are natural custodians of economy and alleviate voters’ inflation concerns

The Guardian - US

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Saudi Arabia Pumps $80 Bn to Develop Local Content

The estimated value of government competitions that meet the requirements of local content and localization amounted to $80 billion since the launch of legislation until the first half of 2022, announced Minister of Industry and Mineral Resources Bandar Ibrahim AlKhorayef. He said that developing local content requires integrated work and…

Asharq Al-Awsat

Patrick Minford: maverick economist who inspired Truss and Thatcher

Brexiter tells Guardian that new PM understands need for tax cuts and orthodoxy must be challenged to revitalise economy

The Guardian - UK

Liz Truss: Who is the UK’s new prime minister?

‘Human hand grenade’, seen by many Tories as Johnson continuity figure, confirmed as his successor after leading Rishi Sunak throughout leadership race

The Independent UK

BHP 'contributed $79bn to Aust economy'

BHP says it paid $18.5 billion directly to governments in Australia in 2021/22, with a total economic contribution of $79.3 billion to the country.

AAP

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Protests across Indonesia as anger mounts over fuel price increase

Thousands of people rallied in Indonesia's biggest cities on Tuesday, demanding the government reverse its first subsidised fuel price increase in eight years amid soaring inflation.

Reuters

Russia privately warns of deep and prolonged economic damage

Russia may face a longer and deeper recession as the impact of U.S. and European sanctions spreads, handicapping sectors that the country has relied on for years to power its economy, according to an internal report prepared for the government.

Tribune News Service

Digital business confidence low amid economic woes

Business confidence among digital-related enterprises showed no marked improvement in the second quarter, based on a recent Digital Sentiment Index survey, as Thailand grapples with high inflation, international conflicts and uncertain state policies, says the Digital Economy Promotion Agency (Depa).

Bangkok Post

With economy in trouble, UK gets ‘disruptor in chief’ as leader

LONDON — Liz Truss is happy to make enemies. The U.K.’s next prime minister has likened bureaucrats to “gremlins,” insulted domestic and foreign leaders, and said British workers need more graft.

Tribune News Service

Migration boost is bad news for Australia's environment – we mustn't ignore that

An increase in the permanent migrant intake to 195,000 this year is one of the jobs summit outcomes announced by the federal government on Friday. The business community pushed for this change, saying shortages of skilled employees are holding back the economy.

The Conversation

Gorbachev, macro-economics, and Gandhi

Concepts of free trade, financial freedom, and privatisation are not the right solutions for India’s citizens

The Hindu

'The Government must act immediately': Welsh butcher's stark warning as his energy bills rise by 500%

Ieuan Edwards says the British economy is facing a 'catastrophe'

Wales Online

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Birmingham Post

"Protect the economy, businesses and people's livelihoods" Welsh business leaders tell new PM Liz Truss

Liz Truss won the Tory Party leadership contest with 57.4% of the vote to become the UK's new Prime Minister

The Hindu

It's special, left behind those who ruled us for 250 years, says PM Modi on India becoming fifth largest economy

PM Modi said the country has broken the shackles of thousands of years of slavery and will only move forward.

Birmingham Post

Welsh firms face challenging future as forecasters predict a recession for the UK

New research on Wales’ economy shows climate for small firms in Wales “remains difficult”

The Guardian - UK

UK economy on brink of recession as Truss takes over, figures show

Activity in manufacturing and services fell last month as businesses struggle with soaring costs

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The Times of India

Andhra Pradesh to get investments worth Rs 1.26 lakh crore, green energy to attract Rs 81k crore

AMARAVATI: In a move that could pump required energies to the state’s economy, the State Investment Promotion Board (SIPB) on Monday cleared proposals with investment to the tune of Rs 1,26,622 crore. State is getting Rs 81,000 crore investments in green energy sector alone.

The Independent UK

Next PM Truss promises ‘bold’ Tory vision as she targets 2024 election win

She said she would deliver on a plan to boost the economy and deal with the cost-of-living crisis after winning the Tory leadership.

The Hindu

Tackling inequality key to climate fight

Tackling inequality is key to securing the public support needed to overhaul the global economy and reverse climate change, an update to the landmark 50-year-old computer simulation of environmental stress has found.

The Conversation

With Americans having fewer children and the nation’s labor force getting older, many employers in manufacturing, aviation and other industries are having trouble finding enough workers.

Manchester Evening News

New PM Liz Truss promises to 'deal' with people's energy bills amid cost of living crisis

The new PM claims she will "deliver a bold plan to cut taxes and grow out economy"

The Conversation

Liz Truss faces a financial whirlwind – will her plans for the economy work?

Liz Truss may have won the battle to become Britain’s next prime minister, but don’t expect much time for her to settle into office. People’s living standards are predicted to fall by an unprecedented 10% over the next two years, driven by rising prices of energy and other goods.

Asharq Al-Awsat

Euro Plunges to 20-Year Low after Russian Gas Halt

The euro sank to a new 20-year low on Monday and below $0.99 after Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the region. The euro has been increasingly correlated with natural gas prices in recent months, with the…

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