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The Latest Breaking News from Economy

First Thing: Biden battered by inflation and low approval ratings

The economy, energy prices and upcoming midterms weigh heavily on the president during his Middle East trip. Plus, House committee argues Capitol attack was premeditated

The Guardian - UK

Economists: More rate hikes won't help

After June's inflation numbers, the Fed is likely to push rates higher — at the risk of sparking a recession

Salon

Russia's war in Ukraine 'greatest challenge' to global economy, says Yellen

BALI, Indonesia: Russia's war in Ukraine poses the greatest threat to the global economy, US Treasury Secretary Janet Yellen said Thursday as G20 ministers prepare to start talks in Indonesia.

Bangkok Post

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UK leadership contender Truss pledges "upward trajectory" for economy by 2024

Foreign Secretary Liz Truss pledged to get the British economy on an "upward trajectory" by the time of the next national election in 2024 as she set out her pitch on Thursday to replace Boris Johnson as prime minister.

Reuters

Just transition needed ‘at pace’ amid cost of living crisis

New report warns that government must make changes to decarbonise Scotland’s economy

Insider UK

Russia's war to keep hitting EU economy, push up inflation

European Union expects Russia’s war in Ukraine to wreak havoc with the economic recovery for the foreseeable future through lower annual growth and record-high inflation

The Independent UK

Commentary: Biden’s economy is steering us into recession

If you’re having trouble making it from paycheck to paycheck, you’re hardly alone. A majority of Americans tell pollsters they feel the economy is not in good shape and getting worse. People are now demonstrably poorer than when President Joe Biden took office. Although wages have risen, prices have risen…

Tribune News Service

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Sri Lanka's crisis is not just about the economy, but a long history of discrimination against minority groups

Sri Lanka is in the grip of an economic, political and humanitarian crisis.

The Conversation

FTSE 100 Live: JP Morgan earnings fall short, big US rates rise expected

Financial results from JP Morgan Chase and Morgan Stanley fell short of expectations as inflation and interest rate pressures hit the US economy.

Evening Standard

Biden, on Middle East tour, is battered by inflation and low approval ratings at home

The sobering numbers, caused by high energy prices, will be top of the agenda as president visits the Middle East

The Guardian - US

With tax cuts pledges galore, the Tories are out of touch with economic reality

Labour would never be allowed to get away with the fantastical rhetoric of these Conservative leadership contenders, says Guardian economics editor Larry Elliott

The Guardian - UK

Unemployment plunges to 3.5 per cent, with nearly 90,000 jobs added in June

Australia's official unemployment rate drops to 3.5 per cent, with an estimated 88,400 jobs added to the economy last month.

ABC News

Subdued spending in second half

Most industry chiefs believe private consumption in the second half is expected to remain flat, limited by pressure from high energy prices and the prolonged pandemic.

Bangkok Post

Stay home with Kempinski

Sindhorn Kempinski Hotel Bangkok recently launched the Unique Escape Package where guests can enjoy a staycation in style and a chance to get away while still in the capital.

Bangkok Post

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The Conversation

China's big tech problem: even in a state-managed economy, digital companies grow too powerful

China’s digital economy has advanced rapidly over the past two decades, with services, communications and commerce moving online.

The Independent UK

EXPLAINER: Why Iran cracks down at home, cozies up to Moscow

Backed into a corner by the West, Iran is ramping up uranium enrichment, clamping down on dissent over its worsening economy and deepening ties with Moscow

The Independent UK

EXPLAINER: Why US inflation is so high, and when it may ease

Inflation’s relentless surge didn’t merely persist in June

WEKU

What's happening in Sri Lanka and what comes next

The double whammy of government and economic instability is further complicating recovery, and the country is hurtling toward bankruptcy.

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The Conversation

Article withdrawn on July 13 2022

We published a story in July 2019 entitled “How gig economy gives a mental health boost to workers – new research” which we have removed from our site.

Benzinga

Equinor (EQNR) Scores Deal To Acquire East Point Energy

Equinor ASA EQNR entered an agreement to acquire battery storage developer East Point Energy LLC, marking its entry into the U.S. power market through flexible assets. The agreement backs Equinor's strategy of a clean energy economy and would provide a forum to expand its contributions in the United States.

The Times of India

Indian economy to grow 7.1-7.6% in current fiscal: Report

NEW DELHI: Indian economy is projected to grow 7.1–7.6 per cent in the current financial year despite shifting geopolitical realities across the world, a report said on Wednesday.

Tribune News Service

Big Tech’s reckoning won’t stop with Uber

Life for big tech companies looks increasingly different to how it did five years ago. Back then, Uber Technologies Inc. used a secret “kill switch” to thwart police from probing its data systems in more than a dozen countries. It forged into cities where its gig-economy model broke local rules,…

Daily Mirror

Cheap Chinese steel 'set to flood UK if trade measures are axed'

The warning comes after the Trade Remedies Authority recommended scrapping protections aimed at stopping imports of low-cost metal overwhelming British producers

Axios

Scorching inflation hit 9.1% in June, highest since 1981

The price shock is tanking Americans' view of the economy.

The Independent UK

UK economy shows unexpectedly strong growth in May

Britain’s economy showed unexpectedly strong growth in May, with the three major components of production— manufacturing, construction and services — all posting gains

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