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The Latest Breaking News from Economy

Tech layoffs hit California revenue with 12% July shortfall

California collected 12% less in revenue than it expected in July, indicating that state coffers are taking a hit from a slowing economy and a cooldown in the once-booming technology industry.

The Times of India

Asian Markets Track Wall St Plunge on Growing Rate Fears

Asian markets fell again Tuesday and the dollar held gains as traders grow increasingly worried that the Federal Reserve will continue to ramp up interest rates to fight inflation. With the Jackson Hole symposium of central bankers and finance chiefs taking place this week, the focus is on what Fed…

Asharq Al-Awsat

Explainer-Blood, treasure and chaos: the cost of Russia's war in Ukraine

Russia's Feb. 24 invasion of Ukraine has left tens of thousands of dead, displaced millions and sown economic strife across the world.

Reuters

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Albanese’s jobs summit is not a rerun of Hawke’s: this time voters want to challenge globalisation, not embrace it

The broader message from the public is clear: we want the new government to be brave and to not just think outside the box, but to break the box

The Guardian - AU

ASX sinks to three-week low, Wall Street and European markets fall on recession signals

The Australian share market has wiped out all of its gains for the month, on growing fears that central bank efforts to tame rising consumer prices with inflation-busting interest-rate hikes will weaken the global economy and lead to a recession.

ABC News

Andhra Pradesh: MLA says TDP’s criticism on State economy is politically motivated

Anantha Venkataramireddy hits out at TDP for diverting people’s attention from development

The Hindu

What’s More Fuel-Efficient: Motorcycles Or Modern Automobiles?

German media outlet Motorrad pits three Sport, Economy, and Utility motorcycle and cars against each other to determine the best mile-per-gallon range.

RideApart

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The road to China’s 20th Party Congress

The Party Congress is significant as it is being held at a time when China sees the period as one of ‘great disorder’

The Hindu

China’s economy is losing momentum. What is happening and why does it matter for Australia?

Clouds are gathering over the economic powerhouse as Covid lockdowns, a distressed property market and population changes take a toll

The Guardian - AU

Guardian Essential poll: 70% of people want price caps on essential services such as energy

Most want more government intervention in ‘broken’ Australian economy with support also strong for windfall profits tax

The Guardian - AU

Royals 'keep it simple' by taking economy flight to Balmoral - amazing fellow passengers

'And yes she was stunning,' said the royal spotter

Nottingham Post

270,000 jobs in a better kind of Grexit

European monetary policy has previously smashed the fragile plates of the Greek economy to the floor; 12 years on, they've finally pieced it all back together.

Newsroom.co.nz

Thailand to extend visas for many tourists from October in bid to boost its economy

The scheme is temporary and will last until the end of March 2023

The Independent UK

Passengers surprised as Kate Middleton boards economy flight with Charlotte and Louis

The Duchess of Cambridge was spotted by passengers on the economy flight to Scotland where they are expected to join the Queen at Balmoral Castle. A passenger said: 'No one on board took any photos or videos. Just a mum taking her children on holiday to see grandmother, but there…

Daily Mirror

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Benzinga

Real Estate Market Cycles - Where We're At Today And What's Next

Seasons, stages, phases and cycles. In biology, astronomy, time and many other aspects of life, things repeat. Real estate is no exception. Market analysts have shown that real estate markets pass through recurring cycles.

Tribune News Service

UK economy shrank most since 1709 in pandemic as numbers revised again

The U.K. economy shrank the most in three centuries in 2020, according to fresh statistics that highlight the devastating economic damage wrought by the Covid-19 pandemic.

Reuters

Cuban entrepreneurs hope for room to grow as the government ponders reform

For those seeking proof that even modest foreign investment can help propel Cuba's fledgling entrepreneurs, look no further than Oscar Fernandez's Havana-based dried fruit business.

Insider UK

Scottish waste management firm gets funding for circular economy upgrade

A £1.3m Green Loan from HSBC has paid for high-tech new machinery

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The Guardian - UK

Sunak effectively rules out serving in a Truss cabinet, suggesting they don’t agree on ‘big things’ – as it happened

Tory leadership candidate says he is focused on race for No 10; energy bosses call for end to battle so new PM can tackle bills crisis

The Guardian - UK

Truss poised to plunge UK economy into ‘inflation spiral’, says Sunak

Truss cannot deliver £50bn tax cuts and support packages without pushing debt to dangerous levels, says Tory leadership rival

Bangkok Post

Finance minister: Economy to grow 3.0-3.5% this year, recovery intact

Thailand's economy is expected to grow by 3.0% to 3.5% this year, helped by public investments and a pick-up in the vital tourism sector, Finance Minister Arkhom Termpittayapaisith said on Monday.

The Guardian - US

‘The world flipped upside down’: will end of Roe galvanize Democrats’ base in midterms?

Democrats believe a brewing backlash after June ruling will reshape the battle for control of Congress and statehouses this fall

Asharq Al-Awsat

Oil Slumps on Fears over Economic Slowdown, Stronger Dollar

Oil prices slumped on Monday, ending three days of gains, as investors were concerned aggressive US interest rate hikes will weaken the global economy and dent fuel demand while a strengthening dollar also added to pressure. Brent crude futures for October settlement declined $1.20, or 1.2%, to $95.52 a barrel…

Newcastle Herald

Stephen Galilee: why raising coal royalties is not the answer

Calls to introduce a Queensland-style royalties system in NSW are shortsighted, and potentially very damaging to the Hunter economy, writes Stephen Galilee

Reuters

Argentina names second in command of key economy ministry

Argentina's government on Sunday appointed a well-known economist and vocal critic of the policies of former President and current Vice President Cristina Fernandez de Kirchner to effectively be the second in command of the key economy ministry.

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