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The Latest Breaking News from Economy

Saudi GDP Exceeds $1 Tln, Shows Kingdom’s Economy Is on Right Track

The size of Saudi Arabia’s GDP, which reached $1.7 trillion in 2016, demonstrated that the Kingdom’s economy is on the right path as it advances the implementation of Vision 2030. Vision 2030 is a unique transformative blueprint that aims to diversify and double the size of the Saudi economy, so…

Asharq Al-Awsat

St. Petersburg’s structural racism study authors are eager to see action

ST. PETERSBURG, Fla. — Mayor Ken Welch promised in his inaugural address that he would oversee a city where people from all backgrounds benefit from a booming economy that is leaving many behind.

Tribune News Service

Jonathan Bernstein: Blaming SVB on ‘woke’ banks masks Republican divide

Politicians generally don’t like looking silly. And yet a whole bunch of Republican politicians reacted to the collapse of Silicon Valley Bank by raging about “woke” banking” in ways that made them appear ridiculous to anyone actually concerned about the danger to the banking system and the economy.

Tribune News Service

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Jeremy Hunt defends Budget amid £1bn tax giveaway for wealthy

The Chancellor said the measures he set out will have a 'transformational' impact on the economy

Manchester Evening News

St Patrick's Day 'emissions nightmare' as jet setting TDs rack up shocking carbon footprint

"What it is saying about our commitment to fighting climate change"

Irish Mirror

Afternoon Update: Albanese fires back at Keating over Aukus criticism; global banking fears; and US threatens to ban TikTok

PM says Keating’s acerbic attack on the Aukus program ‘diminish him’ as Malcolm Turnbull joins chorus of criticism

The Guardian - AU

Unemployment rate in Australia falls back to 3.5% despite interest rate rises

Economy adds almost 64,000 jobs, a figure that will be closely examined by the RBA as it decides whether to pause further interest rate increases

The Guardian - AU

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Paul Keating has ‘diminished’ himself with scathing attack on Aukus submarine deal, Albanese says

Malcolm Turnbull has also questioned deal amid UK economy’s ‘existential problems’

The Guardian - AU

China picked to catapult Thai economy

China's economic growth and the preference among Chinese for Thai properties should make it a key driver for the Thai economy and property market, according to economic and property analysts.

Bangkok Post

Arkhom pledges stability after poll

The government is ready to take action, even in a caretaker position before the next administration takes power, should global volatility affect the country's economy or financial system, Finance Minister Arkhom Termpittayapaisith told reporters.

Bangkok Post

New Zealand GDP down 0.6 per cent in Q4 2022

New Zealand has had a 0.6 per cent contraction in GDP in the December 2022 quarter, beginning a predicted 2023 dip a quarter earlier than expected.

AAP

Recession or not, California’s economy should fare better than rest of the nation

Whether the economy slumps this year or not, California shouldn’t feel as much pain as the rest of the country.

Tribune News Service

Varadkar says Ireland has to work harder to shape EU agenda post-Brexit

The Taoiseach said that despite many challenges, the Irish economy has been ‘remarkably resilient’.

The Independent UK

Colleagues pray for Jezza to cut his losses when his four Es fail to kick in

Education, Employment, Enterprise and … Everywhere? Chancellor’s solutions to heal economy fall flat as he fails to read the room

The Guardian - UK

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Fortune

‘Dr. Doom’ Nouriel Roubini warns that ‘contagion’ from U.S. banks could spread globally

“A banking crisis can morph into a debt crisis for the sovereign, in a doom loop between the banks,” Roubini told Fortune in November.

The Guardian - UK

UK economy will take more than a year to recover to pre-Covid level, says OBR

Jeremy Hunt’s efforts to boost growth unlikely to prevent largest fall in living standards on record

Wales Online

Government to spend nearly £1bn on new supercomputer to help AI research

The UK could be a "world-leading quantum-enabled economy" if a strategy is realised, according to Chancellor Jeremy Hunt

Daily Record

Tories give wealthy 'permanent tax cut' while taking away £67-a-month from struggling households

Chancellor Jeremy Hunt also promised a 'callous' clamp down on benefits claimants

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Birmingham Post

‘No mention of the South West’ - business leaders react to the Budget

Bosses across the region have described its absence from a list of 12 new investment zones as ‘disappointing’ and ‘a blow’

Asharq Al-Awsat

BTS Absence Hurting Global K-Pop Growth, Says HYBE Chairman

Making megastars BTS do their South Korean military service is slowing the global growth of K-pop, the chairman of the septet's agency HYBE said Wednesday. The boyband are widely considered South Korea's biggest-ever cultural phenomenon, selling out stadiums around the world and dominating the charts while raking in billions for…

The Independent UK

Chancellor’s spring Budget ‘is going to impede growth’, DUP claims

Sammy Wilson raised concerns over personal income tax.

Insider UK

Budget 2023: Scottish businesses react

FSB says firms 'short changed' while tourism sector reaction is mixed

The Conversation

Silicon Valley Bank: 19th-century financial crises show how today's regulators could help repair the economy

A bank failure wipes out the money available to its customers and freezes any capital that’s already in circulation. Depositors, borrowers and owners or shareholders all suffer as a result, as does wider economic activity and often the communities or business sectors that the banks serves.

The National (Scotland)

UK to avoid recession but see living standards 'drop to levels not seen since 1950s'

The UK economy is set to avoid a recession but people are still expected to face the biggest fall in living standards on record, according to the…

Wales Online

No recession, but Brits are still facing biggest ever fall in living standards

Things are looking better than thought, but it's still not rosy

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