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The Latest Breaking News from Economy

‘UK recession to last until end of next year’, say economists

THE UK economy is on track to shrink by 1.3 per cent in 2023 amid a recession which is set to last until the end of next year, according to a new…

The National (Scotland)

Analysis-EU unity over Russia sanctions falters as Europe's economy wilts

European Union unity over sanctions on Russia has started to falter as jitters about the impact on Europe's own stumbling economy weakens resolve to punish Moscow for war in Ukraine.

Reuters

Women Lack Basics in Lebanon's Crowded Prisons

Nour is raising her four-month-old daughter in Lebanon's most overpopulated women's prison, struggling to get formula and nappies for her baby as the country's economy lies in tatters. "I don't have enough milk to breastfeed, and baby formula isn't readily available," said the 25-year-old, who was detained eight months ago…

Asharq Al-Awsat

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New world disorder

The world is likely to become brittle, anxious, non-linear and incomprehensible, posing new challenges to businesses after the pandemic, says an industry association.

Bangkok Post

COVID-19 vaccinations saved Aust $181b

Australia's COVID-19 vaccination rollout not only saved lives but led to an overall estimated $181 billion benefit to the wider economy, new modelling shows.

AAP

Here are 3 solid investments to consider during a recession (and 3 to avoid)

By building a strong portfolio of diversified investments, you can weather any market storm—even a recession.

Fortune

‘Heartless’ mass layoffs hit US workers ahead of holidays

Job cuts have risen this year, even as the US economy shows no signs of a downturn for now

The Guardian - US

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Syria Fuel Crisis Slows Down Life in Damascus

Syrian student Ziad al-Ezz can no longer get to university as severe fuel shortages cripple the capital Damascus, pushing residents to seek alternatives for heating and shuttering businesses. With the country's economy battered by more than a decade of war, authorities have announced four fuel price hikes since the start…

Asharq Al-Awsat

Germany pushes back on Russia with opening of gas terminal

Germany opened its first state-chartered liquefied natural gas vessel as Europe’s largest economy races to replace Russian gas amid an energy crunch and freezing temperatures.

Tribune News Service

Honour models for democracy

Since the 1998 ouster of the dictator Suharto -- who ruled Indonesia with an iron fist for over three decades -- the world's fourth most populous nation has undergone a series of rapid changes. Once dependent on foreign aid to exercise its basic functions, Indonesia has firmly established itself as…

Bangkok Post

Andy Burnham's answer to school leavers who don't want to go to university

The Greater Manchester mayor wants to set up a simplified system for school leavers to choose clear routes to employment and involve businesses to identify the skills lacking in the economy

Manchester Evening News

Scholz inaugurates 1st liquefied gas terminal in Germany

Chancellor Olaf Scholz has inaugurated Germany’s first liquefied natural gas terminal, declaring that the speed with which it was put into service is a signal that Europe’s biggest economy will remain strong

The Independent UK

Wang Tao: Key Takeaways From China’s Central Economic Work Conference

Stabilizing growth is the top priority, with measures to boost the real estate sector and a supportive tone for non-SOEs, foreign investors and online platforms

Caixin Global

Factories in China feel brunt of rising COVID infections

BEIJING / SHENYANG -- The end of Chi- na's zero-COVID measures is likely to dampen its economy for some time, as the abrupt policy change has unleashed a rapid spread of infections, with an increasing number of factories consequently forced to slow down.

The Japan News/Yomiuri

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The Independent UK

What Trump promised, Biden seeks to deliver in his own way

Donald Trump pledged to fix U.S. infrastructure as president

Tribune News Service

Texas’ worst drought in a decade could rival 2011′s economic losses

Texas is experiencing its worst drought since 2011, with a blistering summer and prolonged dry conditions expected to deal a similar blow to the state’s economy, according to the Texas Comptroller’s office.

Bangkok Post

BLA provides uncertain insurance projection

Bangkok Life Assurance (BLA) is on track to achieve total premiums of 35.8 billion baht this year, on par with the tally in 2021, but the outlook for next year remains uncertain given the projection of slow growth for the global economy.

Fortune

Inflation is ‘basically over’ and the Fed is ‘making a terrible mistake’ by continuing to raise interest rates, Wharton professor Jeremy Siegel says

Jeremy Siegel warned that inflation was going to become a problem in 2020. Now, he says the Fed has done too much to fight it, and is set to cause a recession.

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StockNews.com

2 Monster Growth Stocks to Buy Now

The Fed has indicated that it will keep raising interest rates through next year. However, despite the economic uncertainties, the revival of the U.S. economy in the second half of this year has made experts hopeful of a mild recession ahead. Hence, it could be wise to invest in monster-growth…

Tribune News Service

Silicon Valley’s economy trampled Austin, Seattle by billions of dollars during COVID’s first two years

Silicon Valley as an economic juggernaut has reigned supreme throughout the pandemic compared to its rivals in the Sunbelt and Pacific Northwest, newly released numbers show.

Tribune News Service

Auto review: Beyond fuel economy, the 2023 Toyota Prius is actually fun-to-drive

The 2022 Toyota Prius has the design presence of an alien life form, with an interior ambiance that never lets you forget that weight is the enemy, as every unnecessary gram of weight has been eliminated. It’s as if the vehicle was engineered of balsa wood and crepe paper. It…

Los Angeles Times

How Amazon put Ukraine’s ‘government in a box’ — and saved its economy from Russia

Since Februrary, Amazon has been playing Santa Claus to the Ukraine, delivering planeloads of goods, including blankets, hygiene kits, diapers, food, and toys, for the war-torn nation and refugees in Poland and other parts of Europe.

The Conversation

Interest rates: why your mortgage payments are going up but your savings aren't – and how better monetary policy could help

The Bank of England, the UK’s central bank, has raised its main interest rate by 0.5% to 3.5%. This is the ninth in a series of increases over the past year that have had a ripple effect across the economy.

Daily Record

John Swinney hits back at claims Scotland could become 'less attractive' to live in after tax rises

The Deputy First Minister responded to claims by the Scottish Chambers of Commerce who said tax hikes taxes for the wealthiest across the country would discourage investment into the economy.

Chicago Tribune

Commentary: China is pushing a pacifist Japan into building up its military capabilities

Japan isn’t known for being an aggressive country in the world of foreign affairs. Successive Japanese governments have taken pains to emphasize their peacelike nature, a direct consequence of Tokyo finding itself on the losing side of the most horrific war of the 20th century. Japan’s constitution renounces the use…

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