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The Latest Breaking News from Economy

These companies have laid off 2,200 workers in Texas so far this year

Recession fears are beginning to create ripples in the Texas economy, especially in the pandemic-era hot housing market fueled by historically low interest rates.

Tribune News Service

The space industry's bubble is at risk of bursting

The space economy is worth about $370 billion.

Axios

Ecuador's President Lasso accepts resignation of three ministers

Ecuador's President Guillermo Lasso on Tuesday accepted the resignations of three government ministers, including Minister of Economy and Finances Simon Cueva and Health Minister Ximena Garzon, the government said in a statement.

Reuters

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2022 Hyundai Elantra N Review: Angry, Angular, Awesome

The 2022 Hyundai Elantra N is a punchy sedan that produces 286 horsepower and comes with either a six-speed manual or a DCT gearbox.

Motor1

Outlook for economy has ‘deteriorated markedly’ due to soaring prices, Bank of England warns

Households and lenders can weather storm caused by energy price spike, says Bank

The Independent UK

Baggage allowance guide 2023: Luggage limits for British Airways, Ryanair, easyJet and more

Wondering how much you can cram into your hand luggage on your next trip? Here’s what the major airlines flying out of the UK allows

The Independent UK

Sixty years after Algeria’s independence, will surging prices bolster its dependence on oil?

The oil and gas sector has long been the backbone of Algeria’s economy, bankrolling the country’s regime while leaving it vulnerable to volatile markets. Despite the authorities’ stated aim to diversify the economy, analysts fear surging hydrocarbon prices will act as an impediment to reform.

France 24

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Argentina's Paris Club talks on hold after Guzman resignation - sources

Argentina's meeting with the Paris Club group of lenders won't be held on Wednesday as planned in the French capital after former Economy Minister Martin Guzman resigned over the weekend, according to two sources with direct knowledge.

Reuters

Budget 2023 'will balance helping people with protecting economy', says Paschal Donohoe

The Finance Minister refused to predict that the Budget would increase people’s living standards, stating that the economic outlook was currently too uncertain

Irish Mirror

With a recession looming, here's what you need to know about unemployment insurance

The U.S. economy contracted by 1.6% in the first quarter of this year, setting the stage for a recession if economic output declines again in the second quarter, said economist Anil K. Puri, director of the Woods Center at Cal State Fullerton.

Los Angeles Times

Sri Lanka's PM Wickremesinghe challenges JVP leader Dissanayake to revive country's economy in 6 months

Sri Lanka's Prime Minister Ranil Wickremesinghe on Tuesday challenged Janatha Vimukthi Peramuna (JVP) leader MP Anura Kumara Dissanayake to revive the country's economy in six months.

Dynamite News

Russian parliament passes first vote on war economy measures

The Russian government will be able to compel businesses to supply the military with goods and make their employees work overtime under two laws to support Moscow's war in Ukraine that were approved in an initial vote in parliament on Tuesday.

Reuters

Londoner’s Diary: Francis Bacon friend hits out at Tate for returning archive

In Today’s Diary: Friend of Francis Bacon blasts Tate / Sir Ranulph still sleeps in his car/ Keir Starmer seems to blame economy for poll woes / Thomas Hardy tree to topple

Evening Standard

Thai-Cambodian MoU on suppression of cyber scams approved

The cabinet on Tuesday approved a memorandum of understanding (MoU) to be signed between the Ministry of Digital Economy and Society of Thailand and the Ministry of Posts and Telecommunications of Cambodia on cooperation in the suppression of call centres and similar scam gangs, government deputy spokeswoman Traisulee Traisoranakul said.

Bangkok Post

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Evening Standard

Fears over the pound and travel chaos send FTSE 100 sliding

YESTERDAY’s market optimism seemed to evaporate today in a cloud of worry about the pound, the UK economy and travel despair.

The Texas Tribune

How the end of Roe and the Uvalde school shooting could reshape the race for Texas governor

A history-making spring in Texas is laying the groundwork for a contentious final four months in the race to lead the state, where Republican incumbent Greg Abbott remains the favorite but is confronting his toughest Democratic opponent yet in Beto O’Rourke.

Asharq Al-Awsat

UAE Minister: CEPA Pacts with India, Israel, Indonesia to Drive 2.6% Economic Growth

The comprehensive economic partnership agreements (CEPA) signed between the UAE, India, Israel, and Indonesia in the first half of 2022 will help the national economy to grow by 2.6 percent in 2030, announced Minister of State for Foreign Trade Thani al-Zeyoudi. Zeyoudi described the growth percentage as "excellent", saying that…

The New Daily

Cost-of-living crisis will get worse before it gets better: Jim Chalmers

Treasurer Jim Chalmers has conceded the cost-of-living crisis will get worse before it gets better after the RBA hiked interest rates by 50 basis points.

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Al Jazeera

I can turn around Sri Lanka’s economy: PM Ranil Wickremesinghe

Sri Lanka’s newly appointed prime minister says it will take one and a half years to stabilise the crisis-hit economy.

Reuters

Argentina's farm leaders worry about new economy chief

Argentina's farm sector leaders said on Monday they were worried about the naming of an economy minister who has close ties to Vice President Cristina Fernandez de Kirchner who pushed higher export taxes on agricultural goods when she was president from 2007-2015.

Bangkok Post

Ministry, BMA panel to tackle overhead cables

The Digital Economy and Society (DES) Ministry and the Bangkok Metropolitan Administration (BMA) have agreed to set up a joint committee to ramp up efforts to move overhead telecom cables underground.

The Independent UK

Argentina peso drops as left-leaning economy minister named

Argentina’s peso has fallen on the first day after left-leaning Silvina Batakis was named economy minister

The Conversation

How Australia's gig workers may remain contractors under Labor's reforms

Uber Australia’s historic agreement with the Transport Workers’ Union, on the need to regulate the gig economy, is the first step in fundamental reform of gig work. It suggests the direction the Albanese government will to take to deliver better conditions for gig workers.

The Conversation

Sri Lanka scrambles for aid – but Australia still seems preoccupied by boats

When Sri Lankan Prime Minister Ranil Wickremesinghe conceded ten days ago that the Sri Lankan economy has “completely collapsed”, his words would have come as no surprise to the island’s 22 million people.

Reuters

EU rolls out $1.3 billion to help Nigeria diversify its economy

The European Union (EU) and its development finance institutions will provide Nigeria with 1.29 billion euros ($1.3 billion) to help Africa's most populous country diversify its economy away from oil, a document from the bloc showed on Monday.

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