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The Latest Breaking News from Economy

Budget 2023 won't move dial on R&D 'hole'

The Govt is committed to a target of getting investment to 2% of GDP as a way to “help build a high-skill, knowledge-based and more productive economy”. This is not a Budget to get us there.

Newsroom.co.nz

Deere Hoists Guidance After Earnings Beat. Why DE Stock Fell.

Deere earnings topped views on strong farm equipment sales after Caterpillar gave a lackluster outlook for heavy equipment. DE stock jumped briefly.

Investors Business Daily

Robertson becomes ever less the visionary leader

In the Budget James Shaw was the only minister to link how a sustainable, climate-compatible economy generates wealth in all its forms. Every minister should have made variations on that theme

Newsroom.co.nz

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2 China Stocks Worth Investors' Attention

As China shifts gears from reopening to a phase of economic growth, the world's second-largest economy's long-term prospects look promising. Hence, fundamentally robust stocks, Sunlands Technology (STG) and Tarena International (TEDU), which are primed for growth, could be worth investors’ attention now. Keep reading….

StockNews.com

EVgo (EVGO) Intrigues But Upside Will Depend on the Economy

Although EVgo fundamentally offers a sensible approach to the global electric vehicle rollout, the viability of EVGO stock largely depends on the economy.

Barchart

Top Lebanese official in IMF talks calls for central bank head to resign amid corruption allegations

The Lebanese official heading talks with the International Monetary Fund to bailout Lebanon’s tanking economy has called for the country’s embattled central bank chief to resign

The Independent UK

Samsung 16Gb DDR5 Enters Mass Production on 12nm Node

Samsung's latest-gen DDR5 memory ICs have entered mass production on the 12nm node, and they are claimed to offer significantly lower power consumption and greater wafer economy.

Tom’s Hardware

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Bank of England chiefs ambushed over rocketing inflation and interest rate hikes

The Commons Treasury Select Committee held a rare sitting outside Parliament - and went to Threadneedle Street in the heart of the City of London to tackle the Governor and his deputies

Daily Mirror

ADB warns China it risks wasting money on state-led growth

China needs to level the playing field between private and state owned firms, the Asian Development Bank's chief economist said on Thursday, adding that the world's second-largest economy risks "wasting a tonne of money" with a state-led growth model.

Reuters

Japanese firms to invest £18bn in UK in ‘massive’ post-Brexit economy boost

Rishi Sunak said in Tokyo the pledges are a ‘massive vote of confidence’ in the British economy

The Independent UK

Home repossessions are up 50%. Should we be worried?

City Comment: It’s not the Nineties again, but repossessions tell us a lot about the level of serious debt pain in the economy

Evening Standard

Putin clashes with own finance minister over damage done to Russian economy by oil sanctions

Putin appears to downplay Anton Siluanov’s concerns by saying the situation is ‘absolutely stable’

The Independent UK

Myanmar arms imports total $1bn since coup

UNITED NATIONS: The economy of Myanmar is in free-fall but its military has imported $1 billion worth of weapons since seizing power in a 2021 coup and used them “to commit atrocities", a new United Nations report says.

Bangkok Post

The True Cost of an Extended US Debt-Ceiling Standoff

Recurring struggles over the borrowing limit undermine the status of the US as an economic superpower.

Businessweek

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The Guardian - UK

Record numbers of British workers are sick. No wonder the economy is too. But there is a cure

The Tories have failed to pursue the obvious answers to this crisis, punishing ill people and NHS strikers instead, says Guardian economics editor Larry Elliott

Daily Record

Dumfries coworking hard could be replicated across Scotland

Crichton Central opened in the aftermath of Covid-19 lockdowns, with the space available for both tenants on the estate and others

Al Jazeera

G7 weighs new sanctions on Russia to end Ukraine war

Existing sanctions are some of the toughest ever imposed on a major economy, but there is still room to tighten.

Bangkok Post

Tourism to limit economic pain as new government awaited

Thailand has not been spared the political uncertainty that usually comes with elections, yet foreign tourists returning by the millions this year are counted on to help shield Southeast Asia’s second-largest economy.

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The Guardian - AU

The Australian economy lost 27,100 full-time jobs in April as unemployment rose to 3.7%

UBS economist says jobs report ‘weaker than expected’ and makes an RBA rate hike in June ‘unlikely’

Bangkok Post

New govt faces 4 economic time bombs

The election result is already out and Thailand is heading for a big policy change. As the party with most seats, the Move Forward Party will form the government. The second place-getter -- the Pheu Thai Party -- has agreed to be in the coalition. These two parties, however, have…

The Guardian - UK

Rishi Sunak’s upbeat view on economy stokes claims he is out of touch

On flight to Japan for G7, PM says ‘economic optimism is increasing’ and insists Brexit is working

Reason

Biden's Experience Doesn't Mean He Can Plan an Economy

No amount of experience can solve the "knowledge problem."

Chicago Sun-Times

Johnson administration distances itself from $12 billion tax plan co-written by member of transition team

The plan by the Action Center on Race & the Economy and the People’s Unity Platform “has nothing to do with what we’re trying to do,” said Jason Lee, a senior adviser to Mayor Brandon Johnson. The mayor’s approach, Lee said, involves “sober analysis of what might be feasible.”

Evening Standard

Brexit working by making beer cheaper, claims Rishi Sunak

Prime Minister insists economy ‘moving in right direction’ after criticism from Tory right

The National (Scotland)

'A positive start': First meeting of new Scottish Government business group

A Scottish Government meeting attempting to deepen links with Scotland’s private sector has been labelled “a positive start”...

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