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The Latest Breaking News from Economy

Remote Irish school has just one student enrolled for September as campaign is launched for more

Principal Bríd Ní Dhonnacha says that hosting students from the mainland is a tradition that greatly supports the local economy

Irish Mirror

German economy minister warns of industry shutdown amid gas shortage -Spiegel

Germany is heading for a gas shortage if Russian gas supplies remain as low as they are now, and certain industries would have to be shut down if there is not enough come winter, Economy Minister Robert Habeck told Der Spiegel magazine.

Reuters

What does the Reserve Bank’s 3.5% pay rise ‘anchor’ mean for Australian workers?

Inflation is predicted to reach 7% by year’s end but the RBA’s Philip Lowe says wages growth of about 3.5% will keep economy moving

The Guardian - AU

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‘I must stay strong’: hardship for workers fleeing Sri Lanka’s broken economy

For many, leaving their country and their family behind to earn money overseas is the only option

The Guardian - AU

Consumer confidence falls to lowest level on record as inflation fears deepen

Index of optimism about the economy’s future plunges to minus 41 – the worst since polling began in 1974

The Independent UK

Beyond GDP: Jim Chalmers' historic moment to build a well-being economy for Australia

Australia’s new federal treasurer, Jim Chalmers, spoke regularly in opposition about a well-being budget and the need to measure more than just the traditional economic indicators.

The Conversation

Powell: Fed must convince public it can tame inflation

As if their job weren’t hard enough at a time of raging inflation, Chair Jerome Powell and his Federal Reserve colleagues have to do more these days than decide just how much to raise interest rates without triggering a recession

The Independent UK

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This summer of discontent should be a gift to Labour – so where are Starmer’s big ideas?

There’s never been a better time to capitalise on the Tories’ economic weakness, writes Guardian columnist Gaby Hinsliff

The Guardian - UK

Does David Frost’s claim that Brexit is working stack up?

Analysis: From the economy to Northern Ireland protocol, former chief negotiator has given his verdict

The Guardian - UK

Another election puts Israel's efforts to reduce cost of living on back burner

Israel's economy is expected to be resilient during yet another election cycle, but households will suffer as reforms to reduce the cost of living are likely to be shelved and state spending will be scaled back until a 2023 budget is approved.

Reuters

Look around, the Great Conservative Experiment has failed in the UK

Beneath the bluster, Conservative rule has become no more than shifting the blame for Britain’s problems, says Guardian columnist Andy Beckett

The Guardian - UK

Germany moves closer to rationing gas as Russia cuts supply

German economy minister says the step reflected the ‘significant deterioration of the gas supply situation’.

Al Jazeera

SNP Government refuse to explain how bullying claims against ex-minister were resolved

Fergus Ewing was reportedly the subject of a bullying complaint by civil servants when he was Sturgeon’s Rural Economy and Tourism Cabinet Secretary.

Daily Record

BRICS supports dialogue between Russia, Ukraine

PM Modi hails ‘practical’ cooperation by members of the group

The Hindu

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The New Daily

Recession fears and high inflation top this week’s big market events

Federal Reserve chair Jerome Powell has acknowledged that steep interest rate hikes could tip the US economy into recession.

Tribune News Service

How California primaries create special interest-fueled races with Democratic infighting

SACRAMENTO, Calif. — Sacramento residents of Senate District 8 received reminders of California’s unusual top-two primary system every time they opened their mailboxes this spring.

The National (Scotland)

Brexit is 'working' for the UK and improving democracy, Lord Frost claims

LEAVING the EU is “working” for the UK's economy and is improving democracy, according to Boris Johnson's former chief Brexit negotiator has…

The Independent UK

Indian officials in Sri Lanka for talks on ailing economy

Senior Indian officials are in Sri Lanka for talks on how to help the island nation weather an unprecedented economic crisis

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The Guardian - UK

Germany moves closer to gas rationing as Russia chokes supplies

Economy minister says cut in deliveries is ‘economic attack on us by Putin’

The Guardian - UK

From pandemic solidarity to bitter enemies: how Tories turned on workers

Spirit of consensus has gone as ministers seek a scapegoat for the stagflation affecting the economy

The Guardian - UK

UK economy ‘running on empty’ as post-pandemic order books dry up

Business confidence slumps to level that typically signals imminent recession, warns economist

Birmingham Post

Business confidence in freefall, warns Chamber of Commerce

Confidence has been hit by weakening overseas sales and orders, alongside a flat UK market

Reuters

G7 hopes to show unity on Ukraine despite darkening economic outlook

The Group of Seven rich democracies will seek to demonstrate their long-term support for Ukraine in its fight against Russian aggression at a summit starting on Sunday even as the war's growing impact on the world economy tests their resolve.

The Independent UK

EXPLAINER: Why Sri Lanka's economy collapsed and what's next

Sri Lanka’s prime minister says the island nation's debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel

Asharq Al-Awsat

IMF: Overall Saudi GDP Projected to Grow 7.6%

The International Monetary Fund (IMF) has highlighted solid indicators for the Saudi economy, expecting a 7.6 percent overall GDP growth in 2022. Non-oil growth will increase to 4.2 percent in 2022, with the current account surplus will increase to 17.4 percent of GDP in 2022, said the Fund experts. An…

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