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The Latest Breaking News from Economy

War in Ukraine at 1 year: Pain, resilience in global economy

One year after Russia invaded Ukraine on Feb. 24, 2022, the global economy is still enduring the consequences — crunched supplies of grain, fertilizer and energy along with more inflation and economic uncertainty in a world already contending with too much of both

The Independent UK

Australia’s banks are not a source of economic dynamism but a drag on our economic and social welfare

The financial sector is not contributing as much to the national economy as it takes out

The Guardian - AU

Silicon Valley stays sturdy despite 'gloom and doom' of tech layoffs: report

SAN JOSE, California — Silicon Valley’s economy and job markets remain sturdy despite being jolted by a steady drumbeat of Bay Area layoffs orchestrated by tech and biotech companies, a new report released Tuesday states.

Tribune News Service

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Inflation may stick around for a decade because of millennial and Gen Z spending

Will young Americans' spending habits be what causes inflation to stick around longer?

Fortune

EU Parliament votes to ban petrol, diesel cars from 2035

The European Parliament has given its’ green light to a plan to halt sales of petrol and diesel cars from 2035. It is a crucial part of the bloc's plan to become a "climate neutral" economy by 2050. Also in the show: US inflation remains hotter than expected, putting pressure…

France 24

China’s Video Game Industry Posts First Drop in Five Years

Sales shrink 10.3% to $39 billion as pandemic impedes new product development and slowing economy weighs on demand

Caixin Global

A look ahead at ESG in 2023

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

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Million households 'vulnerable' to rising interest rates, and their cuts could cause recession

A prominent economist now puts the risk of recession at 50 per cent, as households face the prospect of making substantial spending cuts to meet rising home loan repayments.

ABC News

Pubs and nightclubs on brink of collapse as Covid 'bounce back' wiped out

A new report on the night time economy - which also looks at how music venues, theatres and cinemas are faring - found that most are in "survival" rather than "thrive" mode amid calls for VAT to be cut in the upcoming Budget

Daily Mirror

Iranian President Begins Visit to China

Iranian President Ebrahim Raisi arrived in China on Tuesday for a three-day visit, flanked by a large delegation including his central bank chief and ministers for trade, the economy and oil. Raisi will hold talks with his Chinese counterpart Xi Jinping in the capital Beijing, with the pair expected to…

Asharq Al-Awsat

Watch: Rates pressure, Queensland’s wild weather, Complaint hearing continues

Watch: There are fresh fears that the mortgage cliff facing many Australians could punch a $20b hole in the economy. High-profile Australian neurosurgeon

The New Daily

Japan’s economy rebounds less than expected amid COVID recovery

Asia’s second-largest economy grows 0.2 percent during the October-December period, falling short of expectations.

Al Jazeera

Japan manages growth in final quarter as tourism returns

The Japanese economy grew at an annual pace of 0.6% in October-December, managing to eke out growth after a quarter of slowdown

The Independent UK

Consumer confidence plummets as cash rate lifts

The latest cash rate hike has mortgage holders worried as consumer confidence plunges to its lowest level since April 2020.

AAP

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Bangkok Post

Krungsri, SCCC launch green initiative

Bank of Ayudhya, under the marketing name Krungsri, has joined hands with Siam City Cement (SCCC) to move towards zero food waste in order to reduce greenhouse gases and promote the circular economy.

ABC News

China's economy is recovering — is that a good thing for Australians faced with surging prices?

China's rebounding economy is set to have ramifications for Australia — both good and bad — and could exacerbate our cost-of-living issues.

ABC News

Middle-income families hit hard by inflation, interest rates could sink the economy

As interest rates rise and other cost-of-living pressures increase, middle-income households that had been living comfortably are pulling back on spending, which has big implications for the economy.

Radio France Internationale

European Union increases growth forecast as eurozone dodges recession

Europe's economy will grow more than previously forecast this year as it avoids a winter recession, with inflation expected to ease and gas prices continue to fall.

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Fortune

Prepare for a 'significant uptick' in inflation this week, top economist Paul Krugman says

Inflation likely rose last month, but it may not be a huge deal.

Fortune

America is probably going to avoid a recession and that's giving markets a 'good reason to be more upbeat,' according to the head of the IMF

Kristalina Georgieva struck a positive tone in a Monday interview, arguing the resilient labor market and China's reopening will boost the U.S. economy.

Insider UK

Brexit cost UK economy £29bn with investment ‘stopped in its tracks', Bank of England policymaker says

Jonathan Haskel said UK was an 'extreme outlier' when it comes to facing a slowdown in productivity

Tribune News Service

Bill Dudley: Will the Fed go longer or higher? Maybe both

How will the US Federal Reserve wage its battle with inflation — by keeping interest rates elevated for longer, or by taking them even higher? Investors are fixated on this question, which has vast implications for bonds, stocks and the entire economy.

Newsroom.co.nz

A pathway out of environmental collapse

The burning of fossil fuels and destruction of ecosystems through the extraction of resources has led to the precipice of a catastrophe. How do we step away from the precipice?

Liverpool Echo

Eurovision recruitment drive with hundreds of positions available

45 employers will advertise hundreds of hospitality roles

The Guardian - UK

Healthcare staff shortage main factor in near-record job vacancies

ONS analysis shows sector accounts for more than one in 10 of job ads posted online in December

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