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The Latest Breaking News from Economy

COVID support payments must be balanced with debt, Victorian business lobby says

Victoria's peak business lobby group say the federal government must make sure pandemic payments don't cripple the economy more than outbreaks would.

ABC News

Andy Haldane: we can fix the cost of living crisis. But will we?

The Bank of England’s former chief economist has a clear idea of what caused the current inflation mess, but fears the UK lacks any clear plan for solving it

The Guardian - UK

Economics made simple: 10 experts on where the cost of living crisis came from, and where it’s heading

Rampant inflation, war in Ukraine, Brexit… we ask 10 experts to explain what the economic crisis means for Britain and how we should respond

The Guardian - UK

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Saudi Crown Prince Calls for Unified Efforts to Support Global Economy

Saudi Crown Prince Mohammed bin Salman, addressing an Arab-US summit, said on Saturday that unified efforts were required to support the global economy. COVID-19 and the geopolitical situation necessitated more joint efforts to support the global economy, he said, adding that the environmental challenges required a "realistic and responsible" approach…

Asharq Al-Awsat

Short-term outlook remains volatile, but stay the course

2022 has so far felt like a perfect storm for the global economy and financial markets. Changing monetary policy, decades-high inflation, the war in Ukraine and supply-chain disruptions, to name a few, have taken a toll on investor sentiment.

Bangkok Post

Govt set to dangle land bait

Academics, the private sector and non-governmental organisations have expressed mixed reactions to the government's plan to allow foreigners to hold land ownership of one rai for residential purposes.

Bangkok Post

Michael Pascoe: ‘Everyone’ was wrong about wages – and they may be again

Workers don’t think their boss is open to giving a fat pay increase, writes Michael Pascoe. Fears of a a wage-price spiral are well overblown.

The New Daily

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Employment rate increasing in July after fall in June: CMIE

KOLKATA: After witnessing a steep fall in employment rate in June 2022, economic think-tank Centre for Monitoring Indian Economy (CMIE) has estimated that the trend has been reversing in the current month.

The Times of India

‘Embrace the chaos’: a history of Uber’s rapid expansion and fall from favour

The firm was one of the pioneers of the gig economy model but its operations soon caused a global furore

The Guardian - UK

What The University Of Michigan Consumer Sentiment Survey Means For The Economy, Inflation And Consumer Confidence

The consumer price index for June increased 1.3%, while the index increased 9.1% over the past 12 months, with energy and food leading the way yet again for inflation. The Data: As of Friday morning, the University of Michigan Surveys of Consumers released the preliminary results on consumer sentiment for July 2022.

Benzinga

Liz Truss vows to reverse national insurance rise and 'put money into people's pockets'

Foreign Secretary Liz Truss took a swipe at ex-Chancellor Rishi Sunak’s handling of the economy and public finances. She says she opposed the national insurance rise and wants to help struggling Brits

Daily Mirror

When high fashion and the news collide: Haute Couture Winter 2022/2023

No matter the state of the world, fashion’s job is to keep people dreaming. By emphasising the power of artistry, fashion not only provides welcome distraction, but props up the economy – and can also be subtly political. At Dior, Maria Grazia Chiuri is working hand-in-hand with Kyiv-based artist Olesia…

France 24

Odds of US recession within next year near 50%, survey shows

Odds are now close to even that the U.S. economy will slip into a recession within the next year as persistent and rapid inflation emboldens the Federal Reserve to pursue larger interest-rate hikes.

Tribune News Service

Copper price at lowest level since 2020 as fears over global economy grow

Fall comes amid concerns that soaring inflation will curb spending by large manufacturers

The Guardian - UK

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Birmingham Post

The huge economic impact of universities

Plans for a National Technology Institute would provide a huge boost for the city of Newport and the wider region

The Japan News/Yomiuri

Japan overlooks technological treasures it already has right under its feet

There is growing concern about Japan's science and technology. Although Japan has been putting a lot of effort into becoming a "science and technology-oriented country," its international standing has actually declined in recent years. According to a report released last year by the Education, Culture, Sports, Science and Technology Ministry,…

Salon

Democrats' time to pounce

Recent polling data suggests the race has moved 3-5 points to the Democrats in the last few weeks

Salon

Ali Velshi: Biden can't fix the economy

From sky-high food prices to rising interest rates, here's why we're heading into recession — and what happens next

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The Independent UK

Liz Truss: Who is the foreign secretary hoping to become Tory leader?

Social media savvy ‘human hand grenade’ seen as continuity candidate and faces uphill battle to displace favourites Rishi Sunak and Penny Mordaunt

The Conversation

Kenya's election promises: an economist's perspective

Kenya has four presidential candidates in the August 2022 general election. They recently launched their manifestos and one thing ties them together: the economy.

Bangkok Post

Thailand to offer land ownership to lure wealthy foreigners

Thailand will allow wealthy foreigners to fully own land for residential use, government spokesman Thanakorn Wangboonkongchana said on Friday, seeking to boost its economy by attracting a million new big-spending residents from overseas.

Tribune News Service

Editorial: The political price: Biden, inflation and the coming election

Inflation this high is very bad for Americans, and especially the Americans who have to pinch pennies to feed their families, write the rent check and fill their gas tanks. And while it’s axiomatic that the economy a president oversees is the economy for which he’s held accountable, it’s also…

The Times of India

Chidambaram says Nirmala Sitharaman should appoint chief economic astrologer, BJP calls it ‘obnoxious’ comment

NEW DELHI: Under attack from its rivals over the economy, the BJP has launched a counter-offensive in order to defend the Narendra Modi government at the Centre.

Reuters

Europe 'shot itself in the lungs' with sanctions on Russia, Orban says

The European Union has "shot itself in the lungs" with ill-considered economic sanctions on Russia, which, unless rolled back, risk destroying the European economy, Hungarian Prime Minister Viktor Orban said on Friday.

The Guardian - UK

Company insolvencies jump 40% in England and Wales; China’s growth slumps – as it happened

Pandemic and economic uncertainty caused by Brexit have added to pressures on businesses, insolvency expert says

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