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The Latest Breaking News from Economy

FTSE 100 Live: UK economy shrinks, shares slide continues after US inflation shock

Recession fears intensified today as it emerged that the UK economy contracted by a bigger-than-expected 0.3% in April.

Evening Standard

UK economy shrinks by 0.3%, second monthly drop in a row

"Let me be clear – we’re expecting the economy to be pretty much stagnant. It won’t take much to tip us into a recession, and even if we don’t, it will feel like one for too many people."

Wales Online

New blow for Rishi Sunak as economy shrinks for second month in row

The latest figures from the Office for National Statistics will heighten fears that Britain is heading for a recession

Evening Standard

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Fears mount over health of UK economy after sharp sell-off in markets

FTSE 100 index closes more than 100 points down as GDP falls amid inflation and soaring energy costs

The Guardian - UK

UK economy fell 0.3% as CBI warns country could be pushed into recession

Gross domestic product (GDP) fell by 0.3% in April 2022, after a decline of 0.1% in March 2022, the Office for National Statistics (ONS) said in its latest report

Daily Mirror

UK GDP falls for second month running; stocks and pound slump amid recession fears – as it happened

Pound hits one-month low after UK GDP falls 0.3% in April and European stock markets drop to three-month lows

The Guardian - UK

Eddie Hobbs says Ireland will go into 'firestorm' recession by autumn - and working people will be hit hardest

'Right now, we are in a vortex, on the way to recession. We’re looking at the economy contracting, job losses, business closures. It’s a f**king firestorm'

Irish Mirror

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‘We exist but it is not a life’: Afghan women face bleak prospects under Taliban

In Kabul, women talk about losing their jobs and being forced to wear a burqa, while others fear starvation

The Guardian - UK

Nicola Sturgeon urges businesses to change ways to improve economy

Companies will be asked to look at new ways of working that will help achieve a more resilient economy and a wealthier, fairer and greener Scotland.

The Independent UK

Bristol among most successful European cities for tech investment in 2022

New data has been released by the Digital Economy Council as London Tech Week begins

Birmingham Post

CBI warns UK government over Northern Ireland protocol

Impasse over Brexit deal forcing companies to reconsider investing in Britain, says business lobby group

The Guardian - UK

Bracing for the inevitable

Thailand is expected to enter a cycle of policy rate hikes in the second half of this year in response to persistently high inflation, according to research houses.

Bangkok Post

AIS pairs with ZTE on 5G, digital economy

Advanced Info Service (AIS), Thailand's biggest mobile operator by subscriber base, has signed an agreement for comprehensive cooperation with Chinese information solutions company ZTE.

Bangkok Post

Business Losses From Russia Top $59 Billion as Sanctions Hit

Global companies have racked up more than $59 billion in losses from their Russian operations, with more financial pain to come as sanctions hit the economy and sales and shutdowns continue, according to a review of public statements and securities filings.

Bangkok Post

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The Hindu

India’s $5 trillion economy goal achievable by 2026; Chidambaram’s view very wrong: Rajeev Chandrasekhar

Mr. Chidambaram had said that the "goal of a $5 trillion GDP appears to be a case of 'shifting goalposts'"

ABC News

Mandatory COVID-19 tests every few days becoming the norm for people in China

Residents of dozens of Chinese cities now have to get tested for COVID-19 every few days if they want to lead a normal life. Experts say it's the only way to achieve the government's goal of 'COVID-zero'.

The Guardian - AU

Treasury sounds warning over NSW credit rating ahead of big spending budget

While Moodys have forecast a stable outlook, spending measures spark warning over triple A rating

Daily Mirror

Union's bid to pay care workers £15 an hour minimum wage after 'years of contempt'

GMB leader Gary Smith told the Mirror carers in 'morgue' homes 'deserve to be emerging into a land that’s fit for heroes', ahead of the union's conference this week

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Asharq Al-Awsat

UAE, Morocco to Expand Economic Partnership through New Strategies

The United Arab Emirates and Morocco are keen on expanding commercial and economic ties, particularly in the future economy sectors, and taking advantage of Morocco's strategic location. UAE Minister of Economy Abdulla bin Touq Al Marri noted that cooperation between the two countries had made progress recently. Bin Touq led…

The Guardian - UK

Yes, we’re in a bad way. But to wallow in myths of British ‘declinism’ won’t help us thrive

As we try to find our place in the world, politics veers between the equally unreal claims of boosters and decliners. The latter are now in the ascendant

The Guardian - UK

The Observer view on Britain’s dire economic outlook

The true cost of Brexit is becoming painfully clearer by the day

The Guardian - UK

Inflation and industrial unrest in UK threaten a timetable of trouble

Boris Johnson’s hopes of an economic ‘reset’ look unlikely in the face of rising fears over pay and the cost of living

The Guardian - UK

Sanctions are hitting hard enough to hurt Russia, if not stop it

Analysis: the assault in Ukraine continues, but it seems clear that real damage is being done to Putin’s economy• Russia-Ukraine war: latest updates

Benzinga

Why Kevin O'Leary Says A New Digital Economy Is Emerging

Investor and "Shark Tank" star Kevin O'Leary says digital payment systems represent the biggest opportunity for the growth of cryptocurrencies. He says that the innovation in the digital currency will take us to a much more transparent, auditable, and less expensive way of processing payments around the world.

Bangkok Post

Charting the global economy: Central banks step up tightening

More central banks around the world are unleashing a greater amount of policy firepower as they seek to combat unrelenting inflationary pressures.

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