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The Latest Breaking News from Economy

No explanation after China's Xi Jinping misses key speech at Brics summit

Chinese President Xi Jinping unexpectedly skipped a speech he'd been due to give at the Brics summit in South Africa – instead sending his commerce minister to speak about the strength of the Chinese economy and to denounce wealthy nations who seek to contain the growth of developing ones.

Radio France Internationale

Residents in southern Syria raid ruling party offices, block road as protests over economy intensify

Angry protesters have raided the local offices of the ruling Baath party in a southern Syrian province

The Independent UK

Zimbabwe's economic woes: Hyperinflation, a currency slump and high unemployment

As Zimbabweans head to the polls this Wednesday, we take a look at the dire economic straits the country finds itself in. Inflation has gone from the single digits in 2017 to 77 percent this month, the currency has crashed against the US dollar, and high unemployment has led many…

France 24

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Surprisingly durable US economy poses key question: Are we facing higher-for-longer interest rates?

A year ago, Chair Jerome Powell warned that to fight high inflation, the Federal Reserve would continue to sharply raise interest rates, bringing “some pain” in the form of job losses and weaker economic growth

The Independent UK

Dorries claims she is ‘working daily’ on behalf of her constituents amid calls for her to resign – as it happened

She made the comment in response to repeated claims she is neglecting her duty as an MP

The Guardian - UK

FTSE 100 Live: ‘Heightened recession risk’ with UK private sector in shock decline, but shares climb

London shares are on the front foot after the latest “stunning“ results by chipmaker Nvidia boosted stock market confidence.

Evening Standard

China’s economic model is faltering – does it have the political will to fix it?

The country’s property crisis is causing damage that requires Xi to make liberal or market reforms

The Guardian - UK

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Cost-of-living crisis: Albanese government launches taskforce to review competition in bid to ease pressures

Panel’s appointment comes as Woolworths reports rise in net annual earnings to $1.6bn, a day after Coles posts $1.1bn profit

The Guardian - AU

'Banner year' as Scotland's screen sector boosts economy by more than £600m

SPENDING in Scotland’s screen sector increased by 55 per cent between 2019 and 2021 as Wellbeing Economy Secretary Neil Gray hailed “another…

The National (Scotland)

Who Wins the Battle Over 4,400?

How low will stocks go? That is the question on everyone’s mind as the recent highs for the S&P 500 (SPY) seem like a distant memory as stocks have been going the wrong direction for the entirety of August. Investment expert Steve Reitmeister the causes of the recent sell off…

StockNews.com

Labor’s intergenerational report will be released this week. But just how reliable will it be?

The 300-page missive will include forecasts about the economy and budget over the next 40 years

The Guardian - AU

The experience-hungry American consumer is already crashing the economy into a 'rolling recession,' Oxford Economics says

“Instead of a typical recession, it's possible the economy will fall into – or in fact is already in – a 'rolling' recession,” Oren Klachkin, lead U.S. economist at Oxford Economics, wrote Tuesday.

Fortune

The costs of extreme heat, at least $100B a year, will rise to staggering levels, says the former Fed economist who’s so influential they named a recession indicator after her

The cost of heat to the U.S. economy could more than triple in less than 20 years, hitting manual laborers hardest.

Fortune

How carbon capture and storage would boost the Illinois economy

If we hesitate to capitalize on this opportunity, other states won’t, putting at risk the jobs that could have been anchored right here in Illinois.

Chicago Sun-Times

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Newsroom.co.nz

Exporters bullish on Chinese economic woes

China's meteoric growth may be coming to an end, but opportunity apparently still remains, reports Andrew Bevin

Newsroom.co.nz

What the rise of the gig economy means for New Zealand

The gig is up – the growing reliance of the labour market on temporary and part-time positions has been aided by technology, but what does it mean for future economic resilience?

WEKU

Zimbabwe heads to elections as it sees some of the world's highest inflation

Zimbabwean President Emmerson Mnangagwa seeks a second term facing a familiar rival, opposition leader Nelson Chamisa, whom he narrowly beat in the 2018 disputed election.

Salon

Freedom Caucus threatens gov't shutdown

Right-wingers accused of trying to "tank the economy" ahead of 2024 election

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Zenger

Facebook Faces Expulsion From Thailand For Failing To Crack Down On Scams

Minister of DES, stated his willingness to ask the courts to order Facebook to stop operating by the end of this month.

Zenger

Israel-Singapore Talks Focus On Boosting Trade

Deputy Prime Minister Heng Swee Keat and Israeli Economy and Industry Minister Nir Barkat met to discuss bilateral ties and trade.

The Conversation

Zimbabwe election: Can Nelson Chamisa win? He appeals to young voters but the odds are stacked against him

Nelson Chamisa, the 45-year-old leader of Zimbabwe’s main opposition party, the Citizens Coalition for Change (CCC), is making a second bid to be Zimbabwe’s next president.

The Guardian - UK

UK factory output tumbles to lowest level in nearly three years

CBI data showing slowdown in activity is latest sign Bank interest rate rises are slowing economy

France 24

BRICS summit of emerging economies gets under way without Putin

BRICS leaders meet in South Africa on Tuesday as the loose association of major emerging economies seeks to assert its voice as a counterweight to Western dominance in global affairs. The so-called BRICS nations -- Brazil, Russia, India, China and South Africa -- represent a quarter of the global economy,…

The Independent UK

North Korea's Kim lambasts premier over flooding, possible bid to shift blame for bad economy

North Korea says leader Kim Jong Un has severely rebuked his premier and other senior officials over their “irresponsible” response to recent flooding that inundated farmlands

The Guardian - UK

Zimbabwe goes to polls amid deepening economic crisis

Promises to get inflation and unemployment on track after decades of Mugabe rule have failed to materialise

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