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The Latest Breaking News from Economy

Analyst Slash Earnings Estimates For Alibaba, Baidu, Others Again Amid Surging Covid Environment

Analysts slashed the earnings estimates for the Chinese technology giants for a second straight month amid the nation’s persistent goal of its Covid-Zero strategy, Bloomberg reports. Analysts trimmed Alibaba Group Holding Limited (NYSE:BABA) estimates by 4.2% and Baidu, Inc (NASDAQ:BIDU) by 8.1%. U.S.-listed shares of Baidu have lost 10% in April, while those of Alibaba…

Benzinga

Google inks deal with TS govt. for digital economy for youth, women entrepreneurs

HYDERABAD

The Hindu

Labor’s message that Morrison is ‘all announcement no delivery’ resonating with voters, poll shows

Research shows Labor’s messages most effective of election campaign so far, but Coalition’s economy claims also test well

The Guardian - AU

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Old Zealand teaches New Zealand to use its natural resources fully

The extraordinary story of the cow town of Kalundborg’ tells us how hard it is, how long it takes, and how fully people have to co-operate to create a rewarding circular economy.

Newsroom.co.nz

Five more years: What's next for French economy in Macron's second term?

French voters have re-elected Emmanuel Macron for another five-year term, handing him victory over far-right candidate Marine Le Pen for the second time in a row. So what's next for the French economy and the number one issue for voters, the cost of living crisis? Kate Moody asks Frederik Ducrozet,…

France 24

Over-50s are resigning en masse – new research explains who and why

The UK economy has a problem with its over 50s: following the COVID pandemic, they have been leaving the labour force en masse, causing headaches for businesses and the government. Roughly 300,000 more workers aged between 50 and 65 are now “economically inactive” than before the pandemic, leading a tabloid…

The Conversation

Yellen says more shocks likely to 'challenge the economy'

Treasury Secretary Janet Yellen says the global pandemic and Russia’s invasion of Ukraine highlight the possibility of big economic shocks in the future

The Independent UK

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Mid-Morning Market Update: Markets Open Higher; US Economy Contracts 1.4% In Q1

U.S. stocks traded higher this morning with the Dow Jones gaining 300 points on Thursday.

Benzinga

US economy saw ‘unexpectedly severe’ drop in first three months of year

US economy contracted by -0.4% in first quarter, its weakest quarter since the early days of the pandemic

The Guardian - US

US economy posts surprise contraction, belying solid consumer picture

The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to solid consumer demand.

Tribune News Service

US economy posts surprise contraction with trade gap surging

The U.S. economy unexpectedly shrank last quarter, the first contraction since 2020, as a ballooning trade deficit and softer inventory growth belied an otherwise solid consumer and business demand picture.

Tribune News Service

Economy shrinks for first time in nearly two years

But the details are not as alarming as the headline would suggest.

Axios

US economy shrank by 1.4% in Q1 but consumers kept spending

The U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago, contracting at a 1.4% annual rate, yet consumers and businesses kept spending in a sign of underlying resilience

The Independent UK

Wang Tao: How China’s Covid Lockdowns Will Impact Its Economy

Beijing may fine-tune its Covid policy gradually if met by staunch public resistance or severe economic losses, but when and how this change could occur remains the biggest macro uncertainty

Caixin Global

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Benzinga

European Regulators Expect Risk Over Non-Payment Of Leveraged Loans: WSJ

Europe’s banking regulator fears that highly indebted borrowers could start struggling to pay off their debt as the economy slow down, higher costs, and interest rates increase. Leveraged financing has skyrocketed in Europe and elsewhere over the past years as central banks unleashed cheap money to propel economic growth.

Asharq Al-Awsat

IMF Asserts Private Sector's Role in Boosting Egypt’s Economy

The International Monetary Fund stressed the role of the private sector in boosting the Egyptian economy, currently facing ongoing challenges and difficulties. IMF Middle East and Central Asia Director Jihad Azour said in a press conference that the role of the private sector in Egypt is essential, and the state…

ABC News

The cost of living is surging, so why will the RBA add to it by raising interest rates?

The Reserve Bank is increasingly likely to start raising interest rates next Tuesday. But why would it add increased interest costs to household budgets at a time when Australians are struggling with a surging cost of living? Michael Janda explains the economics behind it.

Benzinga

Goldman Sachs Explores NFTs, Mulls Tokenizing Real-World Assets: Report

Wall Street banking giant Goldman Sachs Group Inc (NYSE: GS) is looking into tokenizing real-world assets.

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Reuters

Analysis-Hobbled by economy, Erdogan heads to Saudi to mend ties after Khashoggi U-turn

Three and a half years after accusing Saudi Arabia's leadership of murder and running a sham trial over the killing of journalist Jamal Khashoggi, Turkish President Tayyip Erdogan plans a trip to the Gulf kingdom on Thursday to mend ties.

Reuters

Ukraine and Russia: What you need to know right now

Russia fired two missiles into Kyiv during a visit by U.N. Secretary General Antonio Guterres, Ukrainian officials said, as Moscow pressed an assault in the east that drew new U.S. pledges of military and humanitarian aid.

Reuters

Blasts hit Kyiv as U.N. chief visits, U.S. pledges new Ukraine aid

Russia fired two missiles into Kyiv on Thursday during a visit by U.N. Secretary General Antonio Guterres, Ukrainian officials said, as Moscow pressed an assault in the east that drew new U.S. pledges of military and humanitarian aid.

Reuters

Visitors trickle back, but climbing mecca Nepal seeks more

Nepal is putting a 21st-century spin on a tourism sector dominated by activities unchanged for generations as it looks to boost a vital part of an economy decimated by the COVID-19 pandemic and soaring import bills.

Bangkok Post

SET looks to strengthen capital market

In its 48th year of operation, the Stock Exchange of Thailand (SET) is enhancing the bourse's competitiveness by providing more investment opportunities related to the new economy, foreign stocks, and digital assets to attract a new generation of investors.

Bangkok Post

Over 1,000 factories set up over past six months

More than 1,000 new factories, mostly in the food industry, have been established over the past six months with investment worth 56.3 billion baht, a sign the domestic economy is slowly recovering, says the Department of Industrial Works.

Tribune News Service

Trump administration's $700 million loan to Kansas trucking company under fire in Congress

WASHINGTON — Federal officials Wednesday were asked to investigate whether an Overland Park, Kansas, trucking company broke federal law when securing a $700 million loan through a federal pandemic aid program — a sum that accounted for 95% of the money allocated to the program.

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