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The Latest Breaking News from Economy

UK economic growth in October a 'false dawn', say experts

THE UK is heading into an expected recession as the economy shrank between August and October.

The National (Scotland)

Swinney talks of ‘difficult decisions’ ahead of Scottish budget

Social Justice Secretary suggests that those with the broadest shoulders should take more of the tax burden

Insider UK

UK economy returns to growth as GDP rises 0.5% in October

Growth figure shrank 0.3% in a quarter, reflecting concerns over lengthy recession

The Guardian - UK

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'Tough road ahead' warning despite economy 'bounce back' in latest figures

'Aftershocks of Covid-19, Putin’s war and high global gas prices' will all continue to impace, it was warned

Wales Online

FTSE 100 Live: UK economy grew in October, Microsoft builds LSE stake

The UK unemployment rate today rose to 3.7% as figures also showed the cost of living squeeze through a 2.7% fall in real terms pay.

Evening Standard

UK facing ‘tough road’ as recession looms despite economy growing in October – as it happened

Chancellor Jeremy Hunt warns economy likely to get worse before improving, after UK GDP rose 0.5% in October, but shrank by 0.3% in the August-October quarter

The Guardian - UK

Jacinda Ardern vows to ‘focus on economy’ after months of poor polling

The New Zealand government is set to pare back its policy agenda, as the prime minister pledges to make the economy her priority

The Guardian - AU

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Gas boss fears plan will kill investment

Industry chief Samantha McCulloch says the federal government's plan to cap gas prices will "unravel" Australia's open market economy.

AAP

Fears for UK economy after manufacturing sector shrinks by 4%

Industry body Make UK says ‘no sugar-coating poor outlook’ for next year and ‘possibly beyond’

The Guardian - UK

North East economy stabilises - but at low level, survey suggests

Second report out today highlights concerns from manufacturing companies for the coming year, however

Birmingham Post

Popping off on populist pledges

With Thailand expected to hold a general election next year, political parties have kicked off their campaigns offering promises to appeal to voters.

Bangkok Post

Crucial year for burgeoning space economy

Thailand's satellite-related economy is expected to reach an important milestone next year with two major developments -- the auction of rights to use satellite orbital slots, scheduled for Jan 8, and a push by the telecom regulator to amend the rules governing landing rights licences for foreign satellite operators, paving…

Bangkok Post

Brazil economy ministry rejects Lula transition team's judgment on finances

Brazil's Economy Ministry on Sunday rejected assertions by president-elect Luis Inacio Lula da Silva's transition team that the outgoing administration was leaving government finances "bankrupted."

Reuters

Hunter can take 'lot more people': population of 950,000 by 2041

A key regional advocacy group says the Lower Hunter has "much more capacity for growth and heavy lifting" to accommodate population rises across Greater Sydney.

Newcastle Herald

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Asharq Al-Awsat

Haitham Al Ghais: OPEC+ Plays Instrumental Role in Supporting Market Stability

The OPEC+ alliance plays an instrumental role in supporting market stability, said OPEC Secretary General Haitham Al Ghais on the sixth anniversary of the group’s formation. The Declaration of Cooperation (DoC) is an unprecedented collaborative framework of 23 oil-producing countries that is based on trust, mutual respect and dialogue, Al…

The Guardian - UK

Infamy, infamy … the Brexit legions have still got it in for Sunak

Power, in this disintegrating Tory party, seems as precarious as being an emperor in febrile ancient Rome

Tribune News Service

Peru leader names ex-cenbank official as economy chief

Peru’s new President Dina Boluarte named a U.S.-educated economist who has spent most of his career at the central bank as economy minister, as she tries to restore calm after the turmoil of recent days.

Reuters

Peru's president Boluarte names Cabinet following Castillo ouster

Peruvian President Dina Boluarte on Saturday named her Cabinet, tapping former deputy finance minister Alex Contreras as economy minister and chemical engineer Oscar Vera as energy and mines minister, following the ouster of ex-President Pedro Castillo.

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Asharq Al-Awsat

Syrian Pound Hits New Low on Black Market

Syria's nose-diving pound hit a new record low Saturday against the dollar on the black market, according to websites monitoring the exchange rate, as the country faces severe fuel shortages. The Syrian economy has been battered by more than 11 years of war and crippling Western sanctions, pushing 90 percent…

The Guardian - US

Concern as US media hit with wave of layoffs amid rise of disinformation

Wider economic uncertainty is behind cuts at companies including CNN, BuzzFeed and Gannett, executives say

Tribune News Service

December Fed Meeting Preview: How many more giant rate hikes are left? ‘This is where it becomes the tough part’

The Federal Reserve’s busiest year for rate hikes since Jimmy Carter was president may be coming to an end — but U.S. central bankers’ rate increases are far from over.

Bangkok Post

Asian shares follow Wall Street upward

RECAP: Asian stocks climbed after Wall Street posted its first advance this month, with traders focused on upcoming US inflation figures for clues on the path of interest-rate increases.

Bangkok Post

Investor optimism returns amid tourism recovery

The Investor Confidence Index (ICI) returned to the bullish zone last month amid optimism over the recovery of tourism and the domestic economy, but uncertainties related to US interest rate policy and global Covid-19 infections are still weighing on the outlook.

Fortune

‘There is nothing special about 2%’: BofA says central bankers just made up their inflation target

“The evidence is that steady 4% inflation imposes very small additional costs compared to steady 2% inflation. Either way the economy adapts,” BofA’s global economist said.

Evening Standard

Watch: Thousands of striking Royal Mail workers stage rally near Parliament

Thousands of Royal Mail workers have staged a rally to mark another strike in the increasingly bitter dispute over “unachievable” conditions they said would “destroy” the company. Members of the Communication Workers Union (CWU) from across the UK congregated outside Parliament in central London to voice their anger about the…

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Luiz Inacio Lula da Silva

Paetongtarn Shinawatra

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