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The Latest Breaking News from Economy

Israel-South Korea free trade deal to take effect Dec. 1

A free trade agreement between Israel and South Korea will go into effect on Dec. 1, Israel's Economy Ministry said on Wednesday, in a move expected to lower the prices of Korean-made cars, toys, video game consoles and soy sauce.

Reuters · Sep 28, 2022

Ryanair boss Michael O’Leary describes UK tax plans as ‘nuts’

The airline chief said the move could potentially bankrupt the UK economy in the coming years.

The Independent UK · Sep 28, 2022

'They have to go': Tory MPs round on Liz Truss as UK economy plunges into crisis

LIZ Truss’s days as Prime Minister could be numbered less than a month after she entered No 10 – with a rebellion brewing among Tory MPs as the…

The National (Scotland) · Sep 28, 2022

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Bank of England takes emergency action to prevent 'material risk' to economy

The Bank announced it was stepping in to buy Government bonds - known as gilts - at an "urgent pace" after fears over the Government's economic policies sent the pound tumbling and sparked a sell-off in the gilts market.

Daily Record · Sep 28, 2022

Saudi Economic Resilience to Increase 60% by 2030

A recent study by the King Abdullah Petroleum Studies and Research Center (KAPSARC) concluded that Saudi Arabia’s gross domestic product will become 60 percent more resilient to shocks, including fluctuations in oil prices, by 2030. According to the study, which used standard models, the economic reforms of Vision 2030 will…

Asharq Al-Awsat · Sep 28, 2022

Bank of England forced to intervene to stabilise economy after Kwasi Kwarteng mini-Budget

The Bank of England on Wednesday made an emergency intervention to protect Britain’s “financial stability” after Kwasi Kwarteng’s shock mini-Budget.

Evening Standard · Sep 28, 2022

Former Tory MSP says 'Britain needs a Labour government' as he slams Liz Truss over tax slashing mini-budget

Former Conservative MSP Professor Adam Tomkins accused the new Prime Minister and Chancellor Kwasi Kwarteng of "trashing" the Tory party brand and the UK economy.

Daily Record · Sep 28, 2022

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Bank of England launches bond-buying scheme to stave off 'material risk to UK'

The bank is taking action to protect the economy

Wales Online · Sep 28, 2022

'It's a chance to tell our city’s story': How hosting Eurovision could boost Liverpool's economy

A final decision is expected to be made in the coming weeks

Birmingham Post · Sep 28, 2022

Bristol film and TV production 'thriving' as shows including The Outlaws generate millions for economy

The amount of filming that took place in the city was up by 10% on the previous financial year, new figures from the Bristol Film Office show

Birmingham Post · Sep 28, 2022

Editorial: Another $400 billion, but who will ever notice?

Democrats want to talk abortion, abortion, abortion, hoping intently that voters don’t notice the economy, the economy, the economy. But amid a steady torrent of bad economic news, the party faithful may be engaging in a mission of futility.

Tribune News Service · Sep 28, 2022

Why tackling climate change means a stronger economy — according to Janet Yellen

Yellen says the Biden administration is emphasizing action on climate change to make a more resilient American economy. What does that look like for the future of infrastructure and spending?

WEKU · Sep 28, 2022

Starmer urges Truss to rethink budget as IMF criticises tax plans

Labour leader accuses government of losing control of economy, branding budget a ‘self-inflicted’ problem

The Guardian - UK · Sep 28, 2022

Jim Chalmers warns not to expect budget surplus as treasury forecasts ‘difficult decisions’ ahead

Treasurer says it will take more than one budget to turn the Australian economy around amid a deteriorating global market

The Guardian - AU · Sep 28, 2022

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Daily Mirror · Sep 28, 2022

Keir Starmer demands Tories respond to 'mess' of economy as Brits 'very, very worried'

The Labour leader said the Government needed to act following a 'very serious' warning from the International Monetary Fund about the Chancellor's tax cutting bonanza

Asharq Al-Awsat · Sep 28, 2022

Stocks and Oil Drop as Dollar Gains on Recession, Ukraine Fears

Equities and crude prices fell, while the dollar held at multi-year highs Wednesday as recession fears mount, while traders are also growing increasingly concerned about tensions with Russia after it declared victory in controversial Ukraine annexation polls. Investors are also keeping a close eye on London, after new finance minister…

The Guardian - UK · Sep 28, 2022

Wednesday briefing: Did Keir Starmer’s speech take advantage of perpetual Tory crisis?

In today’s newsletter: All the content of – and reaction to – Keir Starmer’s conference speech

ABC News · Sep 28, 2022

What's happening with the British pound and what does it mean for Australia's economy?

With the UK government fighting off fears of a recession, the British pound tumbled against the US dollar this week. Here's why stock markets are concerned and what it means for Australia.

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Reuters · Sep 28, 2022

Soaring power costs leave Slovakia economy at risk of collapse, PM tells FT

Slovakia's Prime Minister Eduard Heger said that soaring electricity costs had left the country's economy at risk of "collapse", the Financial Times reported on Wednesday.

The Independent UK · Sep 28, 2022

Kansas race tests which matters more: Economy or abortion?

Kansas' only Democrat in Congress is hoping abortion-rights voters remain fired up enough to save her swing-district seat even if some of them blame her party for housing and grocery prices

Axios · Sep 28, 2022

White House mulling potential Yellen departure after midterms

It would be the first and most consequential exit in a potentially broad reorganization of Biden's economic team.

StockNews.com · Sep 27, 2022

Stocks Racing to Bottom

The S&P 500 (SPY) has raced 15% lower in just a few short weeks. Sure we might see a short term bounce here or there. Unfortunately most signs still point lower. Why is that the case? How much lower could we go? And what is the best way to trade…

Bangkok Post · Sep 27, 2022

Smart Visa scheme to cover 18 sectors

The cabinet yesterday approved extending the Smart Visa scheme to cover a total of 18 targeted industries, up from the existing 13, aiming to entice skilled workers, investors, executives and entrepreneurs to work or invest in Thailand.

The Conversation · Sep 27, 2022

Why fracking holds such symbolic power for the Conservative right

The UK government has lifted a moratorium on hydraulic fracturing (or “fracking”) in England. In his statement, new business secretary Jacob Rees-Mogg argued that it was in the national interest for local communities to tolerate “a higher degree of risk and disturbance” given the current energy crisis.

Manchester Evening News · Sep 27, 2022

Keir Starmer says Tories have 'lost control of British economy' as he pledges state-owned energy firm

He urged the British public to not 'forget' or 'forgive' the Conservative Party during a Labour party conference speech today

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