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The Latest Breaking News from Economy

China's No. 2 leader says economy improved in March

China’s new No. 2 leader says its economic recovery improved in March and he promised to stay committed to opening to the world

The Independent UK

China seeks to woo foreign firms as tensions with West swirl

Chinese Premier Li Qiang said on Thursday that he was committed to opening up and reforming the world's second-largest economy, seeking to win over foreign investors even as trade and geopolitical tensions with the West loom large.

Reuters

Australia will have a carbon price for industry – and it may infuse greater climate action across the economy

Australia is about to take a big, constructive step on climate change policy: we will have a carbon price for the industry sector, under the safeguard mechanism.

The Conversation

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No economic growth forecast until next year as outlook ‘exceedingly uncertain’

The Scottish economy is forecast to shrink by 0.7% in 2023.

The Independent UK

AIS plans long-term ecosystem economy

Advanced Info Service (AIS) has unveiled its long-term business direction, which it calls an ecosystem economy, aiming at strengthening its operations and economic growth through partnerships.

Bangkok Post

The high cost of carbon pricing can't be ignored

Carbon pricing is all the rage these days, at least in the developed world. But while global leaders and experts -- most of them from rich countries -- increasingly embrace the idea of putting the "right price" on carbon, the concept remains vague and ill-defined. Worse, its growing acceptance and…

Bangkok Post

US accuses Credit Suisse of violating tax evasion deal

US lawmakers say the embattled bank Credit Suisse has violated the terms of a plea deal related to tax evasion. A two-year investigation suggests the lender has continued to conceal the bank accounts of wealthy Americans. Meanwhile, UBS has brought back former CEO Sergio Ermotti to lead its takeover of…

France 24

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Economic Concerns Weigh on Crude Prices

May WTI crude oil (CLK23 ) on Wednesday closed down -0.23 (-0.31%), and May RBOB gasoline (RBJ23 ) closed down -4.32 (-1.61%). Crude oil and gasoline prices Wednesday fell back from 2-week highs and posted moderate losses on concern about a slowing economy. Weekly EIA distillate stockpiles unexpectedly declined, which...

Barchart

Crude Oil Erases Early Gains on Signs of a Slowing U.S. Economy

May WTI crude oil (CLK23 ) this morning is down -0.11 (-0.15%), and May RBOB gasoline (RBJ23 ) is down -4.034 (-1.50%). April Nymex natural gas (NGJ23 ) is down -0.020 (-0.99%). Crude oil and gasoline prices this morning fell back from 2-week highs and turned lower on concerns of...

Barchart

The case against Biden and Trump efforts to boost U.S. industry

A blistering new essay pushes back against the Biden administration's focus on unwinding the U.S. economy from China.

Axios

SMEs are key to reviving Northern economy, business leaders say

The Federation of Small Businesses has called for help in a number of areas

Birmingham Post

Germany unveils immigration reform plan to tackle labour shortages

Germany on Wednesday unveiled draft reforms on immigration, skills training and promoting immigration from Western Balkan countries, a bid by Chancellor Olaf Scholz's government to plug labour shortages in Europe's largest economy.

Reuters

Factbox-Main results of Germany's marathon coalition negotiations

Germany's governing coalition on Tuesday presented the results of 30 hours of negotiations aimed at resolving a dispute that has threatened to hold up major policy initiatives in Europe's largest economy. Here are the main conclusions:

Reuters

SVB's newfangled failure fits a century-old pattern of bank runs, with a social media twist

The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse.

The Conversation

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Insider UK

Scottish GDP rises by almost 1% in January

CBI Scotland argues that the uplift can’t mask ongoing challenges facing the economy

The Independent UK

Scottish economy will not return to growth until 2024, experts warn

But the EY Item Club Scotland forecast said interest rates could be cut later this year, providing a boost.

Reuters

Corporate giants say anti-LGBT law would hurt Uganda's economy

A coalition of international companies, including Google and Microsoft, on Wednesday denounced anti-LGBTQ legislation passed by Uganda's parliament last week, warning it would damage the East Africa country's economy.

Evening Standard

London economy facing £2bn climate hit to economy

London faces a near £2 billion hit to its economy if climate change causes temperatures to soar by 2 degrees by the end of the century, a new report has warned.

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Fortune

Top economist Mohamed El-Erian warns that ‘erosion in trust’ caused by banking crisis will lead to ‘economic contagion’

El-Erian warned “fallout” from recent banking stress is adding to pressure on the economy.

WEKU

Poll: Dangers for both parties on the economy, crime and transgender rights

The latest NPR/PBS NewsHour/Marist survey finds the economy is still top of mind for Americans — and that both parties are vulnerable on different issues.

The Week

Suzuki S-Cross Hybrid review: what the car critics say

Suzuki’s compact S-Cross SUV is now available in two iterations: as a manual mild-hybrid; and in this new full-hybrid automatic version with a 1.5-litre engine and larger battery, which is designed to reduce emissions and improve fuel economy, said Auto Express. It’s got plenty of kit, is well-priced, and the…

Insider UK

Scottish economy expected to return to growth in 2024

Projections suggest Scottish GVA will fall by 0.6% during 2023, largely within in the first six months

Newcastle Herald

'Listen before you decide': East End invites officials to hear Supercars grievances

Residents will host a community forum to air their concerns.

The Independent UK

Vietnam economy slows on rising costs, weaker exports

Vietnam says its economy slowed sharply in the first quarter of this year, hit by rising costs and weaker demand for its exports

France 24

France has narrowed its budget deficit, but how does it compare to other EU states?

French economists and public auditors alike breathed a sigh of relief as the national statistics agency INSEE on Tuesday published an annual report showing that the country’s 2022 budget deficit dipped below 5% of GDP. Public debt also slightly decreased. Despite these hopeful figures, France still remains one of the…

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