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The Latest Breaking News from Economy

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'.

ABC News

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

The Guardian - AU

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

Daily Mirror

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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…

Asharq Al-Awsat

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

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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

The Guardian - UK

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.

Benzinga

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.

Bangkok Post

India showing exemplary resilience recovering from COVID-19 crisis: Chief Economic Adviser

India’s Chief Economic Adviser Anantha Nageswaran noted that all major activities and parameters of Indian economy have crossed their pre-COVID levels, and the country is now enjoying macroeconomic tailwinds

The Hindu

Climate crisis is ‘battering our economy’ and driving inflation, new book says

Climatenomics lays out how ‘supply chain disruptions’ has become a euphemism for the effects of climate change

The Guardian - US

Women in business feted ahead of Apec summit

Women in business are demonstrating their strong will to develop companies and help Thailand drive its economy, a role high on the agenda at this year's Asia-Pacific Economic Cooperation (Apec) summit.

Bangkok Post

India is not the fastest growing big economy

A closer look at recent data on GDP shows that the numbers are flawed and recovery is incomplete

The Hindu

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The Times of India

US inflation quickens to 40-year high, pressuring Fed and Joe Biden

US inflation accelerated to a fresh 40-year high in May, a sign that price pressures are becoming entrenched in the economy. That will likely push the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats.

Reuters

Familiar faces in presidential race promise new ways to fix Nigeria

Two political veterans in their 70s are vying to be Nigeria's next president, promising pro-business policies to revamp Africa's largest economy by fixing its oil sector and curbing widespread security threats.

Daily Mirror

National rail strike could cost UK economy more than £90million, experts say

The Centre for Economics and Business Research estimated the planned rail and tube strikes will cause a hit of at least £91million to the UK economy, with London set to suffer the biggest output loss

The National (Scotland)

Boris Johnson's Brexit has cost UK economy 'more than £30 billion', report says

The SNP have slammed the Tories' Brexit “obsession” as the economic impact of the UK’s withdrawal from the European Union has been…

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Belfast Live

Three companies to be granted gold and diamond mine prospecting licences in Fermanagh and Tyrone

The Department for Economy has signalled its intention to grant the licences

Axios

National average gas price on the cusp of crossing $5

It's unclear how Americans — and the economy — will react.

The Independent UK

Brexit ‘largely to blame’ for £31bn loss to UK economy, study finds

5.2 per cent GDP shortfall ‘mostly’ down to Britain’s exit from EU, according to top think tank

The Conversation

Biden just declared heat pumps and solar panels essential to national defense – here's why and the challenges ahead

Solar panels, heat pumps and hydrogen are all building blocks of a clean energy economy. But are they truly “essential to the national defense”?

StockNews.com

Sideways Range with Little Change Awaiting CPI Report

The S&P 500 (SPY) has had a strong thrust higher from very oversold levels in late May, and we've enjoyed some nice gains. Since then, we've trended sideways in a relatively tight range. This makes sense as the CPI report is coming on Friday and is expected to reveal whether…

Reuters

Sri Lanka risks full-blown humanitarian emergency, UN agency says

Sri Lanka is at risk of tipping into a full-blown humanitarian crisis as the country's economy suffers its biggest shock in decades, the U.N. humanitarian office (OCHA) said on Friday.

Miami Herald

The Week Ahead: Another step toward the economy standing on its own

The Federal Reserve will be one step closer in the week ahead to ending its current cycle of raising interest rates.

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