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The Latest Breaking News from Economy

‘Sanctions hole’: how secretive routes supply Russia with western tech and consumer goods

German exports of cars to Kyrgyzstan are up 5,100% since the start of the Ukraine war – with other routes channelling luxury goods and computer chips

The Guardian - AU

Coalition roasted over 2030 emission target backtrack

Some opposition MPs have been caught off-guard by coalition plans to drop 2030 emission reduction targets, as the prime minister hits out at the move.

AAP

Green Party will vow to raise taxes on richest to fund public services in election manifesto

Millionaires and billionaires will pay more to improve improvements to health, housing, transport and the green economy, the Greens said ahead of their manifesto launch in Brighton on Wednesday.

The Independent UK

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Norway just loosened China’s stranglehold on rare minerals critical to the global economy—and it’s a huge win for Europe and the U.S.

China currently processes 90% of the world’s rare elements; breaking that dominance is a top priority for Europe and the U.S.

Fortune

Banks, super firms slow to step up as nature protectors

A conservation body says financial institutions are realising natural factors can damage the economy, but are not proactive enough in mitigating those risks.

AAP

Chalmers eyes soft landing amid budget criticism

The pressure on Australia's economy from higher interest rates justifies the decision not to deliver a "slash and burn" budget, Treasurer Jim Chalmers says.

AAP

How 14 years of Conservative rule has made council bankruptcy commonplace

A growing number of councils in England have declared bankruptcy since 2018, most recently Nottingham, Woking, Thurrock and Birmingham. With the situation in the devolved nations of the UK looking similarly precarious, the question of quite what has happened to local government finances in the UK is an urgent one.

The Conversation

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EU Urged To Welcome Skilled Russians To 'Bleed' Putin Regime

A group of exiled Kremlin critics on Tuesday urged EU countries to do more to welcome Russians fleeing Vladimir Putin's regime, arguing that a shortage of skilled workers would deal a blow to the country's war-time economy.

International Business Times

Back to flat: GDP growth set to hit zero as the economy struggles to expand

Official numbers for April predicted to make grim reading in Downing Street and add to calls for the Bank of England to cut interest rates

Evening Standard

World Bank Upgrades Global Growth Outlook On Resilient US Economy

The World Bank raised its global growth outlook on Tuesday on the back of resilient consumer spending in the United States, but warned that growth remains weak by historical standards.

International Business Times

World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year

The World Bank has upgraded its outlook for the global economy, estimating that it will expand 2.6% this year on the strength of sustained growth in the United States

The Independent UK

Stock market today: Asian stocks are mixed ahead of this week's Fed meeting

Asian stocks are mixed in a busy week with several top-tier reports on U.S. inflation due along with a policy meeting of the Federal Reserve

The Independent UK

Airports boom during busy half-term as Brits seek sun

THE economy might be steady at best, but airports are booming as people look to get out of the UK, at least on holiday.

Evening Standard

The 'Duped' Sri Lankans Fighting In Russia's Ukraine War

When Sri Lanka's economy crashed in 2022, people sought work abroad wherever they could find it -- including ex-soldiers who joined forces fighting in Ukraine after Russia's invasion.

International Business Times

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AAP

Households keep falling behind as rate increases bite

Most borrowers are adapting to tough financial conditions but the number of people in hardship or struggling to meet repayments is growing.

StockNews.com

3 Small-Cap Stocks With Big Potential

May’s strong job report and a growing global economy might fuel the potential of small-cap stocks. Given this backdrop, it could be wise to buy Docebo (DCBO), SIGA Technologies (SIGA), and J.Jill (JILL), which have high growth potential. Keep reading….

The Conversation

Do unemployment benefits stifle entrepreneurship? It’s complicated

Unemployment in the UK rose to 4.4% at the end of April 2024. While this is by no means a worrying level of joblessness for an economy, it is the highest since September 2021, in the second year of the COVID pandemic, when it reached 4.4%.

The National (Scotland)

Scotland 'standout performer' in UK economy, report finds

SCOTLAND was a “standout” performer among the UK nations and regions with its private sector economic growth ...

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Top News

Malaysia Raises Diesel Prices To Cut Subsidies And Smuggling

Malaysia raises diesel prices by over 50% to save billions annually, target aid, and build a sustainable economy.

Evening Standard

OPINION - Election 2024: What the fashion industry needs from the incoming government

Predictably, the general election seems to have got stuck in men-shouting-at-each-other mode, rather than any concrete ideas on policy. The poor old fashion industry, so often overlooked in spite of its not insubstantial contributions — ie, the £28.9 billion it adds to the UK economy — could certainly do with some…

The Conversation

The warming ocean is leaving coastal economies in hot water

Evening Standard

London social housing crisis costing UK economy nearly £8 billion, new research says ahead of election

‘Simple’ reform of setting rents over multiple years would help unblock new building, industry says

The Independent UK

Inflation data this week could help determine Fed's timetable for rate cuts

After Federal Reserve officials meet this week, a statement they will issue may suggest that they’ve seen meaningful progress on inflation this year — a prelude to eventual interest rate cuts

The Independent UK

Stock market today: Asian markets mixed following hotter-than-expected US jobs report

Asian markets are mixed in muted trading after a jobs report released Friday was hotter then expected

The Times of India

Jasprit Bumrah becomes India's third-highest wicket-taker in T20Is

NEW DELHI: Indian pace spearhead Jasprit Bumrah has achieved a significant milestone, surpassing all-rounder Hardik Pandya to become the third-highest wicket-taker for India in T20I cricket. Bumrah's remarkable performance in India's narrow six-run victory over Pakistan at the ICC T20 World Cup propelled him up the rankings.

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