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The Latest Breaking News from Economy

Fed facing a blurrier outlook as it meets to weigh rate hike

The Federal Reserve is grappling with a hazier economic picture clouded by turmoil in the banking industry and still-high inflation just as it meets to decide whether to keep raising interest rates or declare a pause

The Independent UK

States cranking out even more tax cuts amid cash surpluses

The tax-cutting trend is going full force in states even as some are raising concerns about a slowing economy

The Independent UK

Firms unfazed by US woes

The collapse of US banks is expected to have only a minor impact on Thai companies and the overall Thai economy, according to the latest business survey by the University of the Thai Chamber of Commerce (UTCC).

Bangkok Post

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The SVB collapse 'contagion effect' will make it harder for startups, and more banks may fall

The SVB collapse didn't just leave the banking sector in disarray; technology startups are bracing for a harder time, and there are fears the global economy is at risk of recession.

ABC News

'Already past the point of no return': JPMorgan says the U.S. is probably headed for a recession as economic 'engines are about to turn off'

The economy could be nearing a "Minsky moment" and a long overdue economic downturn.

Fortune

Politics Are Holding Pakistan’s Economy Hostage

Drama around former Prime Minister Imran Khan leaves Pakistan’s finances in the lurch.

Foreign Policy

Just Eat plans to oust 1,700 couriers in the UK

Takeaway delivery firm shifting back to gig economy model and ditching guaranteed sick and holiday pay

The Guardian - UK

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What is a wellbeing economy and what does it mean for Scotland?

ON Wednesday MSPs are set to hold a debate on Scotland’s transition to a wellbeing economy.

The National (Scotland)

Tory claiming 'secrecy' around DRS firm could 'find answers on Google', says Slater

The circular economy minister faced questions after it emerged the chief executive of Circularity Scotland was on a £300,000 salary.

The National (Scotland)

Biden vetoes Congressional Review Act resolution that aimed to block ESG retirement plan rule

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

Hundreds arrested at opposition rallies against economic plight of South Africa

More than 550 people have been arrested in South Africa at opposition rallies, a day after marchers called for the departure of President Cyril Ramaphosa over the ailing economy and crippling energy crisis.

Radio France Internationale

Watch as chancellor gives evidence to Economic Affairs Committee after budget

Watch from the House of Lords as peers hear evidence from Jeremy Hunt about the economy.

The Independent UK

Send us the best picture of the North East and see it published on the front of The Journal

The Journal and Chroniclelive and working with the NewcastleGateshead Initiative on a photography competition that celebrates the best of the region

Chronicle Live

Michael Hiltzik: The Fed's errors have brought the economy to the brink of recession. Raising rates again might send it over

The Federal Reserve system was stung in late 2021 when it declared signs of emerging inflation to be "transitory" and delayed taking strong action to tamp down price increases.

Los Angeles Times

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The Independent UK

Hunt running a ‘high-tax, high-spend, low-growth, quasi-socialist economy’ – MP

Philip Davies, MP for Shipley, urged Jeremy Hunt to lower the ‘burden of taxation’ and introduce ‘some tax cuts’ days after the Chancellor’s Budget.

The National (Scotland)

'It's not that difficult is it?' SNP MP in call to Tories to end 'denial' over Brexit

AN SNP MP has called on the Tories to end their “denial” about the negative effects of Brexit on the UK economy.

The Independent UK

Millennial Money: Is being a landlord worth it?

House flipping, “house hacking” and vacation rentals have skyrocketed in popularity in recent years, becoming a distinctly millennial way of generating passive income in an uncertain economy

The Independent UK

Russia's reliance on China rises amid Ukraine sanctions

President Vladimir Putin gushed about China's economic success as he welcomed Chinese leader Xi Jinping to the Kremlin this week

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IT Pro

AWS layoffs: Why Amazon is cutting staff from its most profitable division

Amazon has announced it will make a significant portion of staff redundant at its cloud division in the latest round of cuts. The tech giant confirmed on Monday it intends to lay off 9,000 additional staff following an initial round of cuts that saw more than 18,000 roles erased in…

Bangkok Post

General election on May 14

The Election Commission has set the general election for Sunday May 14, with advanced voting a week earlier on Sunday May 7.

Reuters

Factbox-Indonesian parliament passes decree to replace 2020 jobs law

Indonesia's parliament on Tuesday passed into law an emergency decree on jobs and investment, eliminating legal uncertainty hanging over measures championed by President Joko Widodo to spur business sentiment in Southeast Asia's largest economy.

WEKU

Could the banking turmoil affect you? 5 ways it might

There are possible consequences for regular people, small businesses and the economy.

Reuters

Israel Finance Minister officials warn of economic backlash over judicial overhaul

Senior officials at Israel's Finance Ministry warned that the government's plan to overhaul the judiciary could significantly harm the economy, according to documents seen by Reuters on Tuesday.

Asharq Al-Awsat

Amazon Deepens Tech-sector Gloom with Another 9,000 Layoffs

Amazon.com Inc on Monday said it would axe another 9,000 roles, piling on to a wave of layoffs that has swept the technology sector as an uncertain economy forces companies to get leaner. In a remarkable turn for a company that has long touted its job creation, Amazon will have…

The Guardian - UK

Cutting its cloth: can a new industrial revolution transform Benin’s economy?

The west African country, a leading cotton producer, is moving into processing finished goods, seen as a route to prosperity

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