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The Latest Breaking News from Economy

Apple supplier Foxconn's founder pushed China to ease COVID curbs - WSJ

Apple supplier Foxconn's founder Terry Gou had warned China that the government's zero-COVID stance would threaten the position of the world's second-largest economy in the global supply chain, the Wall Street Journal reported.

Reuters

Peru swears in Boluarte as new president after Castillo’s ‘coup’ attempt fails

Peru’s sixth president in four years starts her first day in office seeking to build a cabinet and restore confidence in the $240 billion economy after her predecessor tried to suspend congress and call for a new constitution.

Tribune News Service

US jobless claims up modestly last week

Slightly more Americans filed for jobless claims last week but the labor market remains one of strongest parts of the U.S. economy

The Independent UK

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Oil prices fall to lowest level of the year

Oil prices are a big tell on how investors feel about the global economy's prospects

Axios

China scrambles to recalibrate 'zero-COVID' policy

WUHAN, China/BEIJING -- The administration of Chinese President Xi Jinping has rolled back some elements of its "zero-COVID" policy, as the slowing economy and public frustration with strict infection prevention measures stoke concerns within the government.

The Japan News/Yomiuri

On the money: Yellen's next milestone is name on US currency

Janet Yellen is set to unveil the first U.S. currency bearing her signature, marking the first time that U.S. bank notes will bear the name of a female treasury secretary

The Independent UK

Oil Rebounds on Optimism over China's Revamp of COVID Protocols

Oil prices rebounded on Thursday amid optimism over China's easing of anti-COVID measures, recouping losses after slumping to the lowest levels so far this year in the previous session. Brent crude futures rose $1 or 1.3% at $78.17 per barrel by 0750 GMT, while US West Texas Intermediate (WTI) crude…

Asharq Al-Awsat

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World shares mixed ahead of U.S. jobless, inflation data

Shares are mixed in Europe and Asia ahead of the release Thursday and Friday of U.S. jobless and inflation data

The Independent UK

90% of China could get COVID, warns one of Beijing's top medical advisors

Experts are warning of a massive exit wave as Beijing abandons costly and unpopular COVID-zero measures, like lockdowns, isolation and mass testing.

Fortune

Pederson: Syria's Status Quo Is In Nobody's Interest

Syrian Foreign Minister Faisal al-Mekdad on Wednesday discussed with the UN Special Envoy for Syria, Geir Pedersen, the latest developments related to the situation in Syria and the region. The official Syrian News Agency, SANA, said Pedersen presented the results of the tours and meetings he conducted over the past…

Asharq Al-Awsat

Thursday briefing: How to tackle the crumbling early-years childcare crisis

In today’s newsletter: Increasing costs and under-investment have left an industry struggling to survive. Could a radical overhaul not only help families but also boost the economy?

The Guardian - UK

Biden approval, views of economy steady, sour: AP-NORC poll

President Joe Biden is facing consistent but critical assessments of his leadership and the national economy as his second year in the White House comes to a close

The Independent UK

Japan's economy shrank less in July-Sept, revised data show

Japan has reported its economy contracted less than previously thought in the last quarter, weathering the country’s latest big COVID wave with less damage than had been thought

The Independent UK

Industry group knocks Pheu Thai's 600B minimum wage

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is opposing the Pheu Thai Party's pledge to raise the daily minimum wage to 600 baht because it could affect the business sector's competitiveness.

Bangkok Post

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Bangkok Post

Pheu Thai clarifies wage-hike pledge

The Pheu Thai Party has clarified its election campaign promise to lift the daily minimum wage to 600 baht after it ran into heavy criticism, saying the wage will be raised only when the economy is back on track.

Bangkok Post

10m foreign tourist target nears

The economy remains firmly on a path towards economic recovery despite growing uncertainties from inflation, geopolitical risks and a potential global recession next year, the finance minister said on Wednesday.

Bangkok Post

'Invisible' brides boost economy

Mail-order brides are those who register themselves in catalogues to be chosen by men for marriage. Since the mail-order bride industry forms an essential part of the informal economy in several underdeveloped and developing Asian economies, data misses the economic participation of Asian mail-order brides, making them "invisible" recruits in…

Bangkok Post

Putin Grips Economy Tighter to Supply Russian War Machine

After a string of battlefield losses in Ukraine in recent months, President Vladimir Putin faces a big test at home: mobilizing Russia's economy to feed the war effort.

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Foreign Policy

Anwar Ibrahim Finally Won Malaysia’s Worst Job

The new prime minister has a grueling task ahead of him.

Fortune

Wall Street's ‘Dr. Doom’ says a severe recession will cause stocks to drop 25%—and warns zombie companies are in danger

Even if the U.S. economy experiences only a “short and shallow” recession, “Dr. Doom” sees stocks falling another 15%.

The Independent UK

Experts raise concerns as Nigeria limits cash withdrawals

Experts raised concerns over a new policy announced by the Central Bank of Nigeria that heavily limits withdrawals of money in a push for a cashless economy

StockNews.com

3 Value Stocks You Need to Take Seriously in 2023

The stock market has remained highly volatile amid the ongoing macroeconomic uncertainties. Although the economy is showing resilience, recession fears are widespread. With value investing gaining traction, we believe fundamentally sound value stocks Lockheed Martin (LMT), Cigna Corporation (CI), and Albertsons (ACI) are great additions to your portfolio now. Read…

Businessweek

China Is the Wild Card for Global Inflation in 2023

The country’s long-awaited emergence from Covid Zero would ignite its economy and put upward pressure on prices around the world.

Evening Standard

Is the party over for hospitality? The rise of ‘premium economy’ in the match day box

The days of a prawn sandwich and glass of fizz at half time might be over as you know it. Matt Rogan on the reinvention of sports hospitality - and why there’s now something for everyone

The Independent UK

Africa forum hails 'circular economy' solutions for climate

Reducing waste while boosting recycling and reuse, known as the ‘circular economy,’ will be vital for halting the loss of nature by meeting growing demand with fewer resources and will make communities more resilient to climate change by encouraging more sustainable practices on the African continent, organizers of the World…

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