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The Latest Breaking News from Economy

Yellen, FOMC Minutes and Other Key Themes to Watch This Week

It was a great week in the overall market this week. The S&P 500 ($SPX) (SPY) finished up over 1% with most of that run coming in the second half of the week.

Barchart

What the hell's going on with migrant workers?

Migration numbers have risen rapidly after the borders opened, but the Treasury forecasts they will fall just as fast. That's good news for workers' wages, but bad news for employers, reports Jonathan Milne.

Newsroom.co.nz

‘We in the west were blinded’: China crackdown on business has Maoist roots

‘Anti-spying’ raids on consulting firms and attacks on tech companies are being driven by party ideology, says academic Chris Marquis

The Guardian - UK

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The west’s tightening of Russian sanctions is a sign of failure

The Kremlin is putting up stiffer economic resistance than the G7 anticipated

The Guardian - UK

Record UK migration surge set to expose government divisions

Data confirming a record surge in migration into the U.K. is expected to lay bare splits in the ruling Conservative Party and highlight the economy’s urgent demand for new workers.

Tribune News Service

Surge in strikes at Chinese factories after Covid rules end

Action by workers has trebled this year as the country emerges from its draconian coronavirus measures

The Guardian - UK

Russia-Ukraine crisis an issue of humanity: PM Modi at G7 session

Prime Minister Narendra Modi on May 21 said he does not consider the current situation in Ukraine to be an issue of politics or economy attending the annual summit of the G7 advanced economies in Hiroshima.

The Hindu

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Polls open in Greece's first election since international bailout spending controls ended

Polls have opened in Greece’s parliamentary election, the first since the country’s economy ceased to be subject to strict supervision and control by international lenders who had provided bailout funds during its nearly decade-long financial crisis

The Independent UK

The Greek economy is roaring back, but voters are counting the cost

From the building of a new metro line to buzzing cafes and tavernas and tourists milling around the squares where rioters once clashed with police, Greece’s return from the depths of its economic crisis is impossible to miss in Athens.

Tribune News Service

Zelenskyy goes on diplomatic blitz to tighten screws on Russia

Ukraine leader’s visit to Hiroshima thrust the G7’s efforts to choke Russia’s economy to the top of a busy agenda.

Al Jazeera

US debt default threatens global chaos making 2008 recession 'look like tea party'

The US has raised its debt ceiling limit multiple times in the last decade up to $13.4 trillion but a deal must be struck before the end of the month to avoid default which could spark a terrible recession

Daily Mirror

The ‘dysfunctional’ debt ceiling fight could cause a $12 trillion blow to the American economy if Washington doesn’t get its act together

There have been 78 debt ceiling deals since 1960 and zero failures. Could this time really be different?

Fortune

The high-stakes debt ceiling fight could be a $12 trillion blow to the American economy: Here are 3 disasters a default would trigger

Janet Yellen has warned that defaulting on the debt would be a "catastrophe," but do you really know what that means?

Fortune

Withdrawal of ₹2,000 notes will have no perceptible effect on economy: Panagariya

The RBI’s decision to withdraw ₹2,000 currency notes from circulation will not have any ‘perceptible effect’ on the economy as any such notes returned will be replaced by either equivalent cash in lower denomination notes or a deposit, former NITI Aayog Vice Chairman Arvind Panagariya has said.

The Hindu

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Bangkok Post

Snub of tourism post ignites rancour

Tourism operators said they would be disappointed if tourism and sports minister is not on the wish lists of the two major political parties as has been speculated by the media, given that the sector is driving the local economy.

Tribune News Service

More than a dozen US states boast best job markets in their history

For all the talk of a slowdown in the US economy, more than a dozen U.S. states have the best job markets in their history.

Fortune

Carl Icahn bet on America to fail. Instead he lost $9 billion

A short seller accused the billionaire of covering up his losses by bribing shareholders with a dividend. Now he admits his 'mistake': 'Don't fight the fed'

Daily Mirror

'I was mum-shamed after saying that I ditched my son in economy on a flight'

Travel influencer Karen Akpan received a lot of backlash when she posted a video of herself and husband Sylvester sitting in business class on a United plane seemingly without her son Aiden

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Al Jazeera

The Greek economy is changing – but not fast enough

Greece is trying to encourage entrepreneurs to invest. But days before polls, businesses say state stands in the way.

Chronicle Live

How smoking costs the North East economy, NHS and social care almost £1bn

Campaigners want the Government to introduce a levy on tobacco firms to help reduce smoking

Birmingham Post

UK Government semiconductor strategy risks "falling short" says Wales Economy Minister

The UK Government's long-awaited national semiconductor strategy offers up to £1bn to chip firms over the next decade

Tom’s Guide

10 tips to help you sleep better on a plane

How to nod off more effectively on your travels – including insider advice from an airline executive.

Reuters

German cabinet publishes draft legislation on new citizenship rules

Germany's interior ministry published draft legislation aimed at making it easier for people to apply for citizenship, as Berlin seeks to boost migration and open up the job market in Europe's biggest economy.

Evening Standard

No politics, just economics— an economist’s stance on the political minefield of migration

Some thoughts on migration with a difference — no politics, just economics

Caixin Global

Opinion: Political Economy — Reverse CFIUS and Investments in China

Under a new paradigm, investors have no choice but to navigate between global investment fundamentals and national policy ambiguities

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