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The Latest Breaking News from Economy

Did sanctions really hurt the Russian economy?

Six months after the Kremlin sent troops into Ukraine, the Russian economy finds itself at a crossroads.

Al Jazeera

Liz Truss warned 'simplistic' tax cut plans would 'completely crash' the economy

Institute for Fiscal Studies boss Paul Johnson tore into the Conservative frontrunner's tax plans - as ex-Chancellor Lord Darling warned of the 'lethal cocktail' facing the British economy from inflation and a looming recession

Daily Mirror

Chinese think tank: Virus curbs must change to help economy

A Chinese think tank has issued a rare public disagreement with the ruling Communist Party’s severe “zero COVID” policy, saying curbs that shut down cities and disrupt trade, travel and industry must change to prevent an “economic stall.”

The Independent UK

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Harry Potter star rages after airline 'bumps him from first class to economy'

Matthew Lewis, known for playing the loveable Neville Longbottom in the Harry Potter series, took to Twitter to share his frustration at an airline, claiming he was moved to economy from first class with little explanation and no apology

Daily Mirror

Iran President: No Way Back to Nuclear Deal if Probe Goes on

Iran's president warned Monday that any roadmap to restore Tehran's tattered nuclear deal with world powers must see international inspectors end their probe on man-made uranium particles found at undeclared sites in the country. In a rare news conference marking his first year in office, President Ebrahim Raisi also issued…

Asharq Al-Awsat

Four countries, six years, 7,000 miles: one Afghan family’s journey to the US

Zahra Amiri is among 41,000 working-age Afghans who have resettled in the US and are set to contribute $1.4bn to the US economy in their first year of work, according to new data

The Guardian - US

Education takes to stage at skills summit

Tertiary and early childhood education advocates say they must be prioritised when the federal government creates its employment plan for the economy.

AAP

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Central Bankers in Jackson Hole embrace tightening mission ahead

Top officials from the world’s biggest central banks coalesced around a simple message in Jackson Hole this weekend: They are ready to follow through with higher interest rates, even if it does some damage.

Tribune News Service

Alan Kohler: Business is on a hiding to nothing at the jobs summit

Australia’s businesses and their leaders will show up at this week’s Jobs and Skills Summit with one thing in mind – give us more workers.

The New Daily

Calls for science investment before summit

A leading science peak body says further investment in the area could lead to a $52 billion windfall for the national economy.

AAP

Labor is sending mixed messages on energy – and some of it sounds like climate denial

The release of vast new areas along the Australian coast for oil and gas exploration is undermining proclamations about creating a cleaner economy

The Guardian - AU

Warren says Fed policies could tip US economy into recession

WASHINGTON — Sen. Elizabeth Warren took aim at the Federal Reserve’s inflation-fighting game plan on Sunday, saying she was worried the central bank will tip the U.S. economy into a recession.

Tribune News Service

Data protection bill likely to be presented in Budget Session, says Ashwini Vaishnaw

Draft legislation will be out for consultation soon, says Union Communication Minister

The Hindu

Germany's gas storage facilities filling up faster than planned - Econ Minister

Germany's gas storage facilities are filling up faster than planned, Economy Minister Robert Habeck said, giving hope that Europe's biggest economy could avoid acute gas shortages this winter.

Reuters

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Belfast Live

East Belfast ice cream shop given new lease of life by local man after being snatched up in a week

"It’s great to see Morelli’s Belmont Road selling in less than a week, given all of the negativity around the economy and market in general"

The Guardian - UK

Point of no return: crunch time as China tries to fend off property crash

With the global economy also at a crossroads, Beijing’s leadership faces a perilous test of nerve on its lending crackdown and zero-Covid strategy

Asharq Al-Awsat

IMF: Saudi Arabia Reaping Benefits of Transparent Economic, Financial Policies

Saudi Arabia is reaping the fruits of success after implementing transparent economic and financial policies, good management of the coronavirus crisis and carrying out economic reforms that have led to increased job opportunities and continued improvement in living standards, revealed IMF Mission Chief for Saudi Arabia Amine Mati. The Kingdom’s…

The Guardian - UK

It’s time for Labour to show voters that it, not the Tories, can mend the economy

Keir Starmer must show that incompetence from a tired, divided party is costing Britain dearly and offer bold solutions

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Foreign Policy

The United States Is Fighting Inflation With History

Fed chief Jerome Powell wants the world to understand his present decisions are guided by past traumas.

The Independent UK

Fed tackles inflation with its most diverse leadership ever

When Diane Swonk first attended the Federal Reserve’s annual economic conference in Jackson Hole in the late 1990s, there was a happy hour for women who attended the event

Bangkok Post

Inflation and the economy: a delicate balancing act

When I sat down to write this article, the most eye-catching event on the annual calendar of global monetary policy authorities was about to get under way. Analysts agreed the headline speaker at the US Federal Reserve conference in the mountain resort town of Jackson Hole, Wyoming — Fed chairman…

Bangkok Post

Unemployment lowest since start of outbreak

Thailand's unemployment rate in the second quarter of the year was the lowest since the pandemic broke out in early 2020, a clear sign the economy is recovering from the pandemic's impact, says a senior official of the National Economic and Social Development Council (NESDC).

AAP

Company profits lift but caution prevails

A majority of Australian companies have lifted profits in the August earnings season but concerns over costs and a slowing economy weigh on the outlook.

StockNews.com

Investors: Wake Up and Smell the Pain

Every article I saw today on Fed Chair Powell’s speech at Jackson Hole focused on the idea that raising rates will cause “pain” to the economy. This sparked a nasty -3.37% scalping of the S&P 500 (SPY) and having investors pondering if we are about to revisit the June lows.…

Benzinga

$150B Hedge Fund Manager: Stocks May Fall 25% If Fed Keeps Raising Rates

The Federal Reserve's objective is still to bring inflation back down to a target of 2%, Fed Chair Jerome Powell said Friday at the Jackson Hole Economic Symposium.

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