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The Latest Breaking News from Economy

U.P. Chief Minister pushes for ‘Vishwakarma complexes’ for a self-reliant rural economy

The U.P. Government runs a ‘Vishwakarma Shram Samman Yojana’ to promote self-employment.

The Hindu

Keep austerity in mind when preparing 2024-25 Budget proposals, says Finance department

Finance Dept. urges govt. depts. to prepare 2024-25 Budget with extreme austerity. Estimates must be realistic & accurate, revenue & dues to be accelerated. Economy measures may require dropping uneconomical schemes & putting off activities. Deadline for non-plan expenditure is Sept. 5, plan expenditure Sept. 10 & revenue estimates &…

The Hindu

A year on, the devastating long-term effects of Pakistan’s floods are revealed

Country’s health and economy ruined as Islamic charity says rich nations must compensate those suffering worst of climate crisis

The Guardian - UK

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The case for a soft landing in the economy just got another boost

U.S. employers added 187,000 jobs in July, a slower but still solid pace of growth, suggesting the Federal Reserve may be able to curb inflation without triggering a recession.

WEKU

Jobs Report Shows Pace of Hiring Slowed in July: What the Experts Are Saying

A mixed jobs report should keep the Fed on track to leave interest rates unchanged at its next meeting, experts say.

Kiplinger

YSRCP govt.’s reforms turned APCOB, DCCBs profitable, says Jagan

CM Jagan Mohan Reddy praised APCOB's 60-year journey, citing its role in helping farmers and strengthening rural economy. Govt. implemented NABCONS recommendations, amended 1964 Act, appointed professionals, infused ₹2,062 cr. capital. Digitalization, computerisation, professional admin. improved efficiency. Except Eluru, all DCCBs now profitable. APCOB sanctioned ₹500 cr. loans for farm…

The Hindu

China to relax internal migration rules to kickstart economy

Changes to hukou urban quotas will offer easier access to education, healthcare and other benefits

The Guardian - UK

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UK interest rates: crashing the economy is no way to bring down inflation

The Bank of England (BoE) has raised interest rates once again to 5.25%, mirroring similar moves by the Federal Reserve and the European Central Bank. The fact that the UK is still suffering from high inflation – higher than either the US or eurozone – made another rate rise appear…

The Conversation

'An invisible epidemic': America's workers are going hungry as food insecurity bites

If gainfully employed people in the financial industry recall experiencing food insecurity, what about the average American worker?

Fortune

The U.S. added jobs at a solid pace in July, reinforcing hopes about the economy

U.S. employers added 187,000 jobs in July, still marking a steady pace of growth. The unemployment rate edged down to 3.5%.

WEKU

US economy adds 187,000 July jobs in sign labor market is cooling

Figure is less than expected in first jobs report since Fed raised interest rate to 22-year high

The Guardian - US

Hopes of ‘soft landing’ as US jobs growth slows; UK economy caught ‘in low-growth trap’ – as it happened

Fewer jobs created last month than expected, but economists hope the US can avoid recession

The Guardian - UK

US economy likely generated 200,000 new jobs in July, showing more resilience in face of rate hikes

The American economy has generated at least 200,000 new jobs for a record 30 straight months

The Independent UK

RBA predicts weaker economy for the rest of 2023 as cost of living pummels households

The Reserve Bank’s latest update predicts wage growth to remain steady but rent inflation will increase

The Guardian - AU

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Zenger

Bolivian National Deputy Leads Effort To Legalize Cryptocurrencies

Mariela Baldivieso spearheads initiative to lift ban and establish regulatory norms, aiming to strengthen economy and promote financial inclusion.

Reason

Stuck Behind an SUV? Blame Me.

Confessions of a Carter administration economist

The Conversation

'Limitless' energy: how floating solar panels near the equator could power future population hotspots

Vast arrays of solar panels floating on calm seas near the Equator could provide effectively unlimited solar energy to densely populated countries in Southeast Asia and West Africa.

The Guardian - UK

Sunak under pressure as Bank signals rates will stay high for months

Tory MPs call for targeted tax cuts as Labour criticises 14th interest rate hike as ‘mortgage bombshell’

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Zenger

Jim Cramer Advises Selling Plug Power, Recommends Holding Live Nation

Cramer expresses disappointment in Plug Power, highlights opportunities in Live Nation.

The Independent UK

Welsh Government hits back at minister’s claim over semiconductor sector

Paul Scully, who leads the government’s digital economy strategy, said he did not want to ‘recreate Taiwan in south Wales’.

The Guardian - UK

The Guardian view on high interest rates: losing the race against time

Editorial: Britain’s 14th successive rise signals a grim 2024 for the economy and for Rishi Sunak’s government

Fortune

Why the economy feels so bad when experts say it’s so good

“Americans have always been waiting for the other shoe to drop.”

Zenger

Top Economist El-Erian Urges Caution Amid Growing Signs Of Convergence

Premature to forecast convergence as challenges remain in global economy and financial markets, says Mohamed El-Erian

The Guardian - US

Three-quarters of Republicans think economy is priority over climate – poll

Survey finds 53% of Americans think addressing climate crisis should be given priority but 72% of Republicans say otherwise

The Guardian - UK

Mel Stride ‘glorifying gig economy’ by pushing delivery jobs for over-50s, says TUC

Work and pensions secretary said working for Deliveroo could be good option for older people, despite low pay and job insecurity

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