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The Latest Breaking News from Economy

In Israel-Hamas war, there’s growing talk of a potential impact on oil prices

Human life and destruction are top concerns. But a possible rise in oil prices could affect world economics and politics, especially the re-election prospects of President Joe Biden.

Chicago Sun-Times

Drop in retail sales and public borrowing show double-edged impact of interest rate hikes

Alarm bells are ringing more loudly than the tills in the run up to the Autumn Statement and Christmas

Evening Standard

Here for a rave, not a Rönnskär: How Drumsheds built a superclub inside an old Ikea

The 15,000-capacity space in Tottenham is set to become the country’s biggest dance venue – just dont call it a superclub. Isobel Lewis speaks with the Drumsheds director about his ‘new centre of cultural gravity’ and sets out to see what all the fuss is about

The Independent UK

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United Airlines will board passengers by window, middle, then aisle seats

Passengers in economy class will see the changes soon. Boarding remains unchanged for first class, business class and pre-boarding. The change is estimated to cut boarding times by up to 2 minutes.

WEKU

United Airlines is changing how you board planes – so is it actually faster?

United Airlines says that it will start boarding passengers in economy class with window seats first starting next week, a move that will speed up boarding times for flights

The Independent UK

Fed Chair Powell: Slower economic growth may be needed to conquer stubbornly high inflation

Federal Reserve Chair Jerome Powell says inflation remains too high and that bringing it down to the Fed’s target level will likely require a slower-growing economy and job market

The Independent UK

Is Xexit nigh? Elon Musk denies talking about pulling X from the EU, but he may not have a choice

Musk is reportedly frustrated with the EU's new Digital Services Act—and the outlook for his social media platform in the world's third-largest economy is not bright.

Fortune

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What the Israel-Hamas conflict means for regional and global economies

Thousands of lives have been lost on both sides in the ongoing war between Israel and Hamas. The 2 million residents of the Gaza Strip are now going through one of their worst humanitarian crises, forced to find shelter from Israeli air strikes within a densely packed territory that's under…

France 24

Higher pay demands might just tip us into recession

City Voices: In theory, a rise in earnings is a good sign of a healthy economy. So why all the worries about wage growth?

Evening Standard

Biden's historic stand with UAW members shows how far labor activism has come in America. True equal pay should be next on his agenda

Apart from the direct $180 billion boost to public finances, closing the gender pay gap could channel an additional $512.6 billion into the U.S. economy.

Fortune

UK fiscal watchdog admits ‘genuine errors’ in inflation forecasting

OBR says it underestimated strength and persistence of inflation as well as impact of high energy prices

The Guardian - UK

NY Fed: Student Loan Resumption Won’t Significantly Impact US Economy

New research suggests minimal effect on consumption despite estimated $1.6 billion reduction in monthly spending.

Zenger

Alibaba (BABA) and NetEase (NTES): Is It Time to Invest in These China Stocks?

China’s faster-than-expected GDP growth in the third quarter and solid consumption and industrial activity last month showed economic recovery gaining traction amid a recent flurry of stimulus measures. So, let’s find out if it is the right time to invest in Chinese stocks Alibaba Group (BABA) and NetEase (NTES). Continue…

StockNews.com

Applications for US jobless benefits fall to lowest level in more than 8 months

Applications for unemployment benefits fell to their lowest level in eight months last week as businesses continue to retain workers despite elevated interest rates meant to cool the economy and labor market

The Independent UK

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Evening Standard

London tourism is booming! Raise a glass to... Kwasi Kwarteng?

City Comment: He may have nearly wrecked the British economy and brought mortgage misery to millions... but at least the hotels are full

The Texas Tribune

Texas economy slows as summers get hotter, Dallas Fed economists say

The summer heat may have cost the state’s economy $24 billion this year, according to Federal Reserve Bank of Dallas economists, who add that Texas is twice as vulnerable to heat-related economic slowdowns than the rest of the country.

The Canberra Times

Higher education to drive ACT growth, resilience, Andrew Barr says

Skill shortage challenge is an opportunity for ACT, the Chief Minister says.

Chicago Sun-Times

Under United Airlines’ revamped boarding plan, passengers on the aisle might have to wait awhile

The reintroduced boarding process — known as WILMA, for window, middle and aisle — can save up to two minutes of boarding time, according to United.

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news in one place.

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AAP

Jobs market 'softens around the edges' after rate rises

The unemployment rate has fallen to 3.6 per cent from 3.7 per cent, according to official data, after a modest 7000 jobs were added to the economy.

The Guardian - UK

Pay is finally rising faster than prices. But this won’t save the Tories

The government hopes voters can be persuaded to ignore what has happened to living standards. History suggests otherwise, says Larry Elliott, the Guardian’s economics editor

The Independent UK

United Airlines rolls out new boarding system with economy window seats set to go first

United Airlines says that it will start boarding passengers in economy class with window seats first starting next week, a move that will speed up boarding times for flights

The National (Scotland)

UK only 16th out of 33 nations in new Scotianomics Wellbeing Economy Index

THE UK places only 16th out of 33 nations on a new Scotianomics Wellbeing Economy Index.

The Independent UK

United Airlines rolling out plan that lets passengers in economy class with window seats board first

United Airlines says that it will start boarding passengers in economy class with window seats first starting next week, a move that will speed up boarding times for flights

The Guardian - UK

How will the Israel-Hamas war affect oil prices and the global economy?

Economists are examining how the conflict could escalate as they plan for the next big global shock

Fortune

Bank of America warned consumers they would be pushed to the 'point of pain', CEO Brian Moynihan says we've now reached that point

Brian Moynihan, the CEO of Bank of America, said although consumers are buying less, some families are beginning to spend more than they're bringing in.

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