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The Latest Breaking News from Economy

Germany's Scholz: G20 consensus on war in Ukraine to be 'tough ride'

German Chancellor Olaf Scholz said leaders of the Group of 20 (G20) major economies would find it difficult agreeing clear statements on global issues and the war in Ukraine when they meet this week for the first time since Russia invaded Ukraine.

Reuters

PMI: Northern Ireland economy contracts at fastest rate in nearly two years

Soaring inflation and eroding confidence blamed for latest slide

Birmingham Post

East Midlands business activity falls for fifth month

Business confidence at two-and-a-half year low, according to a new NatWest study

Birmingham Post

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Deutsche Bank forecasts Australia will enter a recession in 2023, following an expected rise in unemployment

Deutsche Bank expects Australia's unemployment rate to spike to 4.5 per cent by the end of 2023, leading to a recession under the investment bank's definition.

ABC News

Yellen announces new US sanctions on Russian military networks

United States Treasury Secretary says ending war in Ukraine is ‘single best thing’ to help global economy.

Al Jazeera

CBI urges Jeremy Hunt to relax immigration rules to ease UK staff shortages

Lobby group says failure to tackle workforce shortages would be highly damaging for the economy

The Guardian - UK

Sunak pledges ‘sustainable trajectory’ as Hunt warns of ‘sacrifices’ for all

The Prime Minister said his Chancellor will unveil measures on Thursday that will ‘deliver on the expectations of international markets’.

The Independent UK

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£17.6 million support programme set to fuel green heat economy

Scottish Enterprise aims to deliver funding for innovation within the Scottish supply chain

Insider UK

Economy contracted in October in Yorkshire and Humber

Region one of the last to see activity shrink as concerns over recession emerge

Birmingham Post

Sunak to urge G20 leaders to ‘fix weaknesses’ in global economy

The meeting of major economic powers in Bali comes amid geopolitical tensions and economic woes worsened by Russia’s invasion of Ukraine.

The Independent UK

Thailand's chance to shine

Thailand is scheduled to host the Asia-Paciﬁc Economic Cooperation (Apec) 2022 summit later this week.

Bangkok Post

Startups Look for Ways to Bring Down the Cost of Green Hydrogen

Companies are pouring a lot of money into the idea that hydrogen can help decarbonize the fossil-fuel-based economy.

Bangkok Post

Jeremy Hunt ‘accepts picture’ of NHS on brink of collapse, but efficiencies must be found

Chancellor warns health service has to help fix UK’s broken economy despite facing ‘massive pressures’

The Guardian - UK

Climate crisis solutions may also ease global financial shocks, Albanese to tell business leaders

The prime minister will use a keynote address at the B20, a business summit alongside the G20 in Bali, to argue for a more sustainable global economy

The Guardian - AU

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The Guardian - UK

What does the autumn statement have in store? A poison pill for Labour

Spending cuts and tax rises will deepen the recession so the pain will be deferred until 2025 and a likely Starmer government

The Independent UK

Brexit has imposed ‘costs’ on UK economy, Jeremy Hunt admits OLD

Chancellor claims EU withdrawal is not ‘the biggest issue’ holding back UK growth

Asharq Al-Awsat

Al Rumayyan: Saudi Arabia Seeks 100 Years of Economic Sustainability

Governor of the Saudi Public Investment Fund Yasir al-Rumayyan said the Kingdom seeks to develop a sustainable economy that can thrive 100 years from now. He underscored Saudi Arabia’s commitment to global climate action and efforts to develop renewable energies. Rumayyan made the remarks during the opening session of the…

The Guardian - UK

Truss? Brexit? Covid? Who is really to blame for the Tories’ ‘fiscal hole’?

The succession of PMs have all spoken out on who or what has caused the state of UK finances. They’re all partly right, but conveniently miss out one or two other key reasons

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The Guardian - UK

Don’t be taken in by that £50bn ‘fiscal black hole’. It’s just a dodgy Tory metaphor

Drastic public sector belt-tightening is not an economic necessity but a political decision

Reuters

IMF chief warns on U.S.-China rivalry, calls Trump-era tariffs counterproductive

The head of the International Monetary Fund warned of risks to the global economy from the rivalry between China and the United States, while describing tariffs put on Chinese imports under then-President Donald Trump as counterproductive.

Bangkok Post

Biden set to meet Xi in bid to avert a full rupture in US-China ties

The US and China disagree on so many things, across so many spheres, that other world leaders are increasingly warning of a deeper rupture that could split the global economy.

Dynamite News

UK Economy: A crisis in the making for some time, with India trade deal offering hope

It has been anything but a smooth ride for the Rishi Sunak led UK government, with the latest official data released this week reflecting a shrinking economy and a looming two-year-long recession. Read more on Dynamite News:

Reuters

Chinese premier says economy on 'upward trend', vows further support

China's economy has grown 3% over the past three quarters and is stabilising on an "upward trend", Chinese Premier Li Keqiang said, vowing to continue to support the economy with policy measures.

Reuters

Climate protesters in Portugal storm building, urge minister to step down

Hundreds of protesters angry about the climate crisis took to the streets of Lisbon on Saturday, with dozens storming a building where Portugal's Economy Minister Antonio Costa e Silva was speaking demanding that the former oil executive resign.

Daily Mirror

'Tories are clueless on saving the NHS - it's time to let Labour fix their mess'

Shadow Health Secretary Wes Streeting says the Conservatives have wrecked the economy and the NHS, and Labour is the only party with a proper plan to get the NHS back on its feet

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