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The Latest Breaking News from Economy

UK PM Rishi Sunak faces lawmakers’ questions for the first time

The new Conservative leader seeks to instill confidence that his government will offer economic stability.

Al Jazeera

So-Young's CEO-led Buyout Dissolves After Stock Plunge

Key Takeaways: So-Young said a group led by its co-founder and CEO has withdrawn its earlier buyout offer made nearly a year ago The withdrawal came as the company faces challenges from a regulatory crackdown on the medical aesthetics industry and a slowing Chinese economy By Warren Yang

Benzinga

Government considers tax on cruise ship visitors

Under the Local Visitor Levy Bill, councils could be given the power to charge overnight stays in hotels

Insider UK

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Opposition hits out at Labor’s ‘vanity’ budget

The shadow treasurer rejected the concept of the structural deficit at the heart of the budget and said the economy could be grown faster.

The New Daily

Saudi Arabia Tops G20 Countries in Tourism Recovery

Saudi Arabia has topped the G20 countries, which include the G20 economy, emerging market economies, and developing economies, at the level of economic recovery. Saudi ministers affirmed on Tuesday that work is underway to create a safe environment for long-term investments, as part of the sustainable development strategy. They pointed…

Asharq Al-Awsat

Major change to alcohol sale hours in Tesco, SuperValu, Lidl, Dunnes, and other supermarkets

The new proposals are expected to give a much-needed boost to Ireland's night-time economy

Dublin Live

UK's Rishi Sunak delays plan to plug Britain's budget black hole

Britain's new Prime Minister Rishi Sunak on Wednesday delayed the announcement of a keenly awaited plan for repairing the country's public finances until Nov. 17, two-and-a-half weeks later than previously planned.

Reuters

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Chalmers hasn't delivered a wellbeing budget, but it's a step in the right direction

It was billed as Australia’s first wellbeing budget. But, five months into a new government, with so many economic fires to fight, Treasurer Jim Chalmers’ first budget was never going to be that.

The Conversation

New visa to let tourists with $130,000 live in Bali for 10 years

Indonesia has entered the race to attract wealthy global citizens for long-term stays in bolstering growth of Southeast Asia’s largest economy with a focus on its trump card: Bali.

Bangkok Post

Davido: ‘Africa is beautiful, but we don’t have the best leaders handling the economy’ 

The Afrobeats superstar talks to Kevin E G Perry about launching his own festival in Atlanta, soundtracking the World Cup in Qatar, and how he ended up donating £450,000 to Nigerian orphanages over a Rolls Royce mishap

The Independent UK

Crime, COVID and climate change - South African tourism faces many threats, but it’s resilient

South Africa’s tourism industry has been rocked by the murder of a German visitor during an attempted robbery. The development resulted in negative media publicity, with a potentially adverse impact on the country’s image as a safe tourist destination. This comes at a time when the sector is recovering from…

The Conversation

South West insolvencies and profit warnings up amid rising costs

New reports from restructuring trade body R3 and professional services giant EY have painted a grim picture of the region’s economy

Birmingham Post

Rishi Sunak news – live: Braverman return criticised as cabinet meets for first time

Home secretary is reappointed after breaching ministerial code

The Independent UK

SNP Government considering 'cruise tax' on wealthy boat visitors to Scots areas

EXCLUSIVE: Under the Government’s Local Visitor Levy Bill, councils would be given the power to slap a fee on overnight stays in hotels.

Daily Record

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Tribune News Service

Google parent Alphabet drops as earnings, sales miss estimates

After reporting earnings and revenue that missed expectations, Google parent Alphabet Inc. said on Tuesday it would slow hiring and control expenses, signaling that it was girding for tough times ahead as the economy falters.

The National (Scotland)

Westminster parties won’t deliver on boosting economy, new analysis warns

KEY measures to boost Scotland’s economy are “impossible to deliver” in the UK political system as the Tories nor Labour will argue for…

Daily Mirror

'Austerity is something Britain simply can’t afford - and we will all pay the price'

Two top professors who predicted Liz Truss' downfall have outlined their own plan to help salvage the country's economy and deal with the mounting crises facing the new prime minsiter

Bangkok Post

Cabinet backs expats owning land

The cabinet approved on Tuesday the Interior Ministry's proposal to allow foreigners to hold land ownership of up to one rai (roughly 0.16 hectares) for residential purposes, though critics warned the move may trigger land speculation by foreign investors.

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Reuters

Brazil's Bolsonaro considering minimum wage increase after leaked reports

Brazil President Jair Bolsonaro's government is considering raising the minimum wage and civil servants' salaries above inflation, Economy Minister Paulo Guedes said on Tuesday, but he denied intentions to end middle class tax benefits.

Miami Herald

Cuban Americans in Miami prefer Trump to DeSantis, and other poll takeaways

MIAMI — A majority of Cuban Americans in Miami Dade disapprove of President Joe Biden’s handling of key issues like the economy and Cuba policy and intend to overwhelmingly support Republican candidates in the midterm elections, according to a poll by Florida International University released Tuesday.

Ballotpedia

Economy and Society, October 25, 2022: Missouri latest state to divest BlackRock funds over ESG

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.

AAP

Budget good, but more needed: business

Treasurer Jim Chalmers' first budget has been welcomed by business chiefs, but they say more work is needed to get the economy on a stronger footing.

The Independent UK

Record number of Americans have bank accounts, gov't says

The number of Americans who do not have a bank account fell to a record low last year, as the proliferation of online-only banks and an improving economy is bringing more Americans into the traditional financial system

The Conversation

The UK is facing an economic crisis – here's why it needs to find a global solution

Recent changes in the UK’s top job have had a positive effect on pound sterling and long-term sovereign bond yields. But the financial market reaction has been muted compared with the financial turmoil blamed on former prime minister Liz Truss and ex-chancellor Kwasi Kwarteng in recent weeks.

Al Jazeera

New PM Rishi Sunak pledges to lead UK out of economic crisis

New leader promises to unite the country as well as place economic stability and confidence at the heart of his agenda.

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