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The Latest Breaking News from Economy

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.

Tribune News Service

Colombo needs debt mechanism mini-miracle

When the economy is going well, the poor benefit more than others. But when things are going badly, it is the poor who are hurt the most. This is especially true in the case of the Covid-19 pandemic, which has hit poor countries -- and the poorest people within them…

Bangkok Post

Truss says West must overhaul approach to international security

The Foreign Secretary said the G7 should act as an ‘economic Nato’, while there must be ‘no free pass’ for nations which ignore the rules.

The Independent UK

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China’s Cabinet Vows Stronger Policy to Boost Jobs Amid Covid Upsurge

State Council adds to sweeping guidelines issued Monday for bolstering the economy, offering tax and insurance cost relief for micro, small and medium businesses

Caixin Global

Net zero by 2050 will hit a major timing problem technology can't solve. We need to talk about cutting consumption

Many climate activists, scientists, engineers and politicians are trying to reassure us the climate crisis can be solved rapidly without any changes to lifestyle, society or the economy.

The Conversation

April 28th is Pivotal Day for Stock Market

Bulls and bears have been squabbling over the direction of the stock market (SPY) since the start of the year. Right now the bears are winning. But the bulls have not lost hope because the economy seems to be in fine shape. That may all change Thursday morning, April 28th…

StockNews.com

PM must own up to inflation cause: Labor

The prime minister asks voters to trust the LNP as they brace for an interest rate rise but Labor says he must own up to his government's economic failures.

AAP

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2023 Genesis G90 In US Getting Mild-Hybrid V6 With Electric Supercharger

The EPA rates the mild-hybrid G90 as getting 20 miles per gallon combined fuel economy.

Motor1

Is NZ's economic growth uneconomic?

GDP is a seriously flawed indicator of human wellbeing. We have been conditioned to mistake dollar value for things that really matter, argues Jack Santa Barbara

Newsroom.co.nz

2022 Subaru BRZ Review: A Sharper Tool

Now with 228 horsepower and standard Apple CarPlay, the BRZ has more appeal than ever.

Motor1

Russian gas crisis: 5 things to know about Europe’s supply

Russia is cutting gas supplies to Poland and Bulgaria, and is threatening to cut off other countries in Europe.

Al Jazeera

GDP likely to show ‘misleading’ US weakness as Fed plots path

The U.S. economy’s latest report card — featuring fresh readouts on growth, inflation, spending and wages in the first three months of the year — is set to include a mix of good and bad marks.

Tribune News Service

IMF sees bumper year for Arab oil producers, risk for others

The world’s economy is forecast to grow around 3.6% this year, but Arab oil exporters are seeing a windfall from high energy prices that will buoy their economies and replenish their financial reserves this year and next

The Independent UK

EXPLAINER: What's behind Russia's natural gas cutoff?

Russia's playing hardball on natural gas

The Independent UK

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StockNews.com

3 Stocks to Avoid as the Fed Hikes Rates in a Slowing Economy

Despite a seemingly weakening economy, the Fed has indicated that its forthcoming interest rate increases will be aggressive. Although interest rate hikes bode well for financial companies, fast-paced and aggressive rate increases pose the risk of an economic slowdown. Therefore, we think it could be wise to avoid Wells Fargo…

Benzinga

Wall Street Banks Slash Chinese Companies' Profit Forecasts - Read Why

Some Wall Street banks slashed their profit estimates for Chinese companies, citing the recent Covid resurgence and subsequent lockdowns, Bloomberg reports. China's Covid Zero policy has dealt a heavy blow to the economy, as stringent restrictions pressure supply chains and chill consumption. A week-long lockdown that shut down much of Shanghai…

Birmingham Post

Physics sector worth over £7bn to Welsh economy

The economic impact is now more than the construction, transport and retail sectors combined

The Hindu

UAE-India airfares soar ahead of Eid holidays

The fare for the Air India Express in Abu Dhabi- Kozhikode non-stop flight is Rs 33,400 while for Air India in the same sector is Rs 40, 200.

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Evening Standard

Lloyds Bank warning on economy as it tells customers “seek help”

BRITAIN’S biggest bank today issued stark warnings about what could happen to the economy if inflation takes grip and told customers in trouble to seek help sooner rather than later.

The Independent UK

Lloyds sees signs of customer belt-tightening as cost-of-living crisis bites

The lending giant as seen 1.2 million subscriptions contracts cancelled over the past six months, with customers spending more on energy and food as i

The Guardian - UK

Lloyds says customers cutting back on streaming and gyms as inflation bites

Bank warns of more loan defaults amid cost of living crisis as it reports 14% fall in first-quarter pre-tax profit

The Independent UK

Lebanon vote holds little hope for change despite disasters

On May 15, Lebanese vote in national parliamentary elections, the first since their country's economy took a nosedive

Asharq Al-Awsat

Dbeibah Kicks off Visit to Tunisia amid Dispute over His Govt's Legitimacy

Head of Libya’s Government of National Unity (GNU) Abdulhamid al-Dbeibah arrived in Tunisia on Tuesday for a one-week official visit amid a dispute back home over the legitimacy of his government. Dbeibah is leading a high-level delegation that includes chief of staff of western Libya forces Mohamed Haddad, Interior Minister…

The Independent UK

Long Covid and health problems during pandemic cost UK economy £8bn and 400,000 workers, report says

Government urged to overhaul approach to public health after research reveals country has lost 400,000 workers to ill health

The Guardian - UK

UK will lose £8bn from Covid-induced decline in size of workforce

Illness, mental health problems and NHS disruption have led to 400,000 workers vanishing, says thinktank

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