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The Latest Breaking News from Economy

India poised to catapult to forefront of digital innovation with thriving digital economy, tech use: U.S. Ambassador Eric Garcetti

“India with its vast population, thriving digital economy and technology use is poised to leverage transformative power of 5G, and in future 6G, to catapult itself to the forefront of digital innovation” U...S Ambassador to India, Eric Garcetti said on May 23

The Hindu

The Welsh Government is completely disinterested in job creation

Welsh Conservative Shadow Economy Minister and MS Paul Davies says Labour has governed in Wales as an anti-business party

Birmingham Post

How Turkey's president maintains popularity despite economic turmoil

The Turkish people and economy are being pummeled by sky-high inflation, and many are still recovering from a devastating earthquake made worse by a slow government response

The Independent UK

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Will Jim Chalmers' budget drive up inflation? Not likely – and here's why

The proposition that cutting prices will stoke inflation is a hard one to get your head around, even if you are an economist.

The Conversation

‘Dear Jay’: Jefferies strategist writes an apology letter template for all the ‘haters’ who doubt the Fed chair and his inflation fight

Jefferies’s David Zervos says Jerome Powell’s critics are nothing more than “Armageddonistas” who are “in desperate need of a fresh beatdown.”

Fortune

Warning over household debt surge

The National Economic and Social Development Council (NESDC) warns that Thailand's ballooning household debt will become a serious problem if employment and the economy decelerate, says secretary-general Danucha Pichayanan.

Bangkok Post

People are calling for couple to divorce after husband flies first class and leaves wife in coach

‘This is grounds for immediate divorce,’ tweeted journalist Lydia Polgreen

The Independent UK

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Karnataka’s new, yet daunting, journey to development

Karnataka needs to get down to the business of governance with well-thought-out policy

The Hindu

‘Not something I’m proud of’: six Greeks explain their election choice

Economic policies seemed to swing it with voters as PM’s party finishes 20 percentage points ahead of the left opposition

The Guardian - UK

Why Papa John’s (PZZA) Unusual Options Volume Could Be an Early Warning Indicator

As a filling, low-cost fast-food option, Papa John’s should really thrive even during a tough economy. That PZZA stock is an underperformer may pose a broader warning.

Barchart

Debt ceiling showdowns aren’t new – but this time gonzo Republicans are ready to blow up the economy

Republicans like Marjorie Taylor Greene and nihilists like Trump are more committed to gaining power than to cutting the government debt

The Guardian - US

Woman urged to divorce her husband who ditched her for First Class flight

A woman said that her husband paid for himself to enjoy all of the luxuries and pampering of first class while leaving herself and their children in economy class

Daily Mirror

'My selfish husband flies first class while I sit in economy with our kids'

A woman has revealed how her 'selfish' husband books himself a first class ticket when travelling overseas while she sits in economy with their children - and now strangers are urging her to get a divorce

Daily Mirror

Chinese Big Tech Still Sits in the Party’s Sights

Given the CCP’s overriding priorities of rebuilding a strong domestic economy and maintaining robust supply chains against external threats, it is unlikely to embark on an extensive campaign like it did in 2020 and 2021 to rein in technology platforms.

The News Lens

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Reuters

House swaps and dog walks: Travelers find cheaper alternatives to lodging

Lillian Smith has spent about eight of the last 12 months traveling around the world, hitting France, Morocco, Japan and South Korea. Her cost for lodgings in that time? About one night in a hotel, along with the time she spent walking dogs, watering plants and changing litter boxes.

The Independent UK

How damage from a US debt default could cascade across the global economy

If the debt crisis roiling Washington were eventually to send the United States crashing into recession, America’s economy would hardly sink alone

France 24

Biden to resume in-person negotiations on lifting US debt ceiling

US President Joe Biden is meeting with Republican House Speaker Kevin McCarthy this Monday, resuming talks on raising the government's borrowing limit. Washington has until June 1 to reach a deal before the government runs out of money to pay its bills, which would send shockwaves through the US economy…

Birmingham Post

Welsh economy has shrunk shows new figures from the ONS

The contraction was the biggest dip of any UK nation or region

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AAP

Climate economy pact ushers in new era for Aussie firms

Unleashing investment in critical minerals and rare earths and generating hydrogen production credits, Australia will become a domestic supplier under US law.

Tribune News Service

Commentary: What we can learn from an earlier inflation-employment conundrum

America’s unemployment now stands at a 54-year low of 3.4%, a useful reminder that our post-COVID economy is similar to the post-World War II economy of 1947-1949. Much like today, that generation faced a tricky combination of high inflation and low unemployment. Our predecessors brought inflation down without significantly breaking…

The Conversation

The US could default on June 1 owing to gridlock over the debt limit; Biden vs Trump polls are close

The United States debt limit is a legislative limit on the overall debt the US government can incur. As the US keeps running budget deficits, the debt keeps increasing. Congress could deal with this permanently by either repealing the debt limit, or increasing it to a very large number.

The Independent UK

Biden gets low ratings on economy, guns, immigration in AP-NORC Poll

Just 33% of American adults say they approve of President Joe Biden’s handling of the economy and only 24% say national economic conditions are in good shape

Bangkok Post

Weak economy hampers liquor upgrades

The Excise Department says current economic conditions are unfavourable, resulting in only one small, community-based entrepreneur applying for a licence to become a medium-sized liquor producer, says deputy director-general Kriengkrai Pattanaporn.

The Guardian - UK

China’s war chest: how the fight for semiconductors reveals the outlines of a future conflict

US efforts to stifle China’s chip industry are thought to be part of a wider plan to hinder Beijing’s preparations for war

Bangkok Post

Leading the economy

The business sector is calling for the new government to appoint appropriate leaders to take the helm at economic ministries, in particular the Finance Ministry, as they want to see the country progress without interruption amid several internal and external challenges.

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