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The Latest Breaking News from Economy

Regions like the Hunter have no time to lose if they are to realise their competitive advantage in the emerging hydrogen economy, the head of hydrogen at global management consultancy McKinsey has cautioned.

Newcastle Herald

DES Ministry demand disrupts satellite orbital slot auction

The second attempt by the telecom regulator to hold a satellite orbital slot auction looks set to face a major hurdle as the Digital Economy and Society (DES) Ministry demands reservation of some satellite capacity from the winning bidders for state use without charges.

Bangkok Post

Kwasi Kwarteng appeals for Tory unity as poll gives Labour 33-point lead

Worries among Tory MPs that the fallout from the mini-Budget could hurt them at the ballot box were dramatically underlined by the YouGov poll

Evening Standard

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Liz Truss and Kwasi Kwarteng double down on mini-budget as Chancellor visits Darlington

Liz Truss and Kwasi Kwarteng have insisted their £45bn package of tax cuts is the "right plan" despite chaos on financial markets, and fears of rocketing mortgage bills

Chronicle Live

What does government support for fossil fuel subsidies cost our economy and environment?

Experts say government subsidies for private companies sustain the environmentally unsustainable, and lead to inequality and poor business practices.

ABC News

How do we know when a recession has begun? Looks for these signs

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

The Independent UK

Bikes are everywhere in Kabul since the Taliban takeover. But who's not cycling? Women

As the economy unravels, "everyone is getting a bike," says one young resident. It's the cheapest way to get around. But the Taliban's conservative culture means women cyclists are not welcome.

WEKU

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South Africa's Ramaphosa denies money-laundering allegations

South African President Cyril Ramaphosa has denied allegations of money laundering while being questioned by lawmakers over a scandal that threatens his position and the direction of Africa’s most developed economy

The Independent UK

‘Severe economic slowdown’ awaits Europe as energy crunch bites

The Organisation for Economic Co-operation and Development (OECD) published a gloomy economic forecast for 2023 on September 26 – suggesting that Europe faces a very difficult economic climate if the current energy crisis worsens, with winter temperatures likely to be a decisive factor.

France 24

OLD EXPLAINER: How do we know when a recession has begun?

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

The Independent UK

Truss: I want to work with Nicola Sturgeon

The Prime Minister stood by her economic plans despite a tumultuous week for the UK economy.

The Independent UK

Liz Truss: Tory tax cuts would 'turbocharge' Scottish economy

LIZ Truss has urged the Scottish Government to replicate her government's tax-slashing budget - saying it could help "turbocharge" the…

The National (Scotland)

The UK's economic turmoil doesn't have to be ours

Lack of coordination between monetary and fiscal policy is hurting the UK economy and threatening a global currency crisis. What might that mean for NZ?

Newsroom.co.nz

Green Man describes its plans for the £4.25m farm bought by the Welsh Government

Fiona Stewart said an expansion of Green Man would add a further £13m into the economy

Wales Online

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The Independent UK

Labour more trusted than Conservatives on the economy – poll

Ipsos surveyed 1,000 adults after Kwasi Kwarteng’s mini-budget on Friday.

The Conversation

How bonds work and why everyone is talking about them right now: a finance expert explains

The Bank of England is buying bonds again. Just as it was about to start selling the debt it had accumulated as part of its last effort to support the economy during the COVID-19 pandemic, the central bank has been forced to announce a new scheme to shore up investor…

Evening Standard

A cost of borrowing crisis is coming

City Voices: UK economy on life support

Reuters

Nationalist divisions dim hopes for change after Bosnia's election

Divisive nationalism has dominated campaigning for Bosnia's presidential and parliamentary elections on Oct. 2, suggesting reformists keen to modernise a dysfunctional economy and improve rule of law have scant chance of winning.

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The Times of India

Government hikes interest rates on some small savings schemes by up to 30 bps in Q3

NEW DELHI: The government on Thursday raised rates on some small savings schemes by up to 30 basis points (bps) in line with the hardening interest rate in the economy.

The Independent UK

US economy drops at 0.6% annual rate from April through June

Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate

The Independent UK

Fewer people seek US unemployment aid amid solid hiring

The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy

Evening Standard

Liz Truss defends mini-Budget as the ‘right plan’

Prime Minister Liz Truss has defended her Chancellor’s mini-Budget as the “right plan” as she began a series of regional interviews on Thursday morning. After the pound plummeted following Kwasi Kwarteng’s intervention last week, the prime minister was attempting to restore confidence in the market as she takes on 24…

The Conversation

Butter, garage doors and SUVs: Why shortages remain common 2½ years into the pandemic

Shortages of basic goods still plague the U.S. economy – 2½ years after the pandemic’s onset turned global supply chains upside down.

Birmingham Post

Opinion: With mortgage rates and the economy it’s better to plan and calculate than take a risk

"Many of the inflationary pressures are temporary and have a cause, which can be remedied with the right appetite"

Daily Mirror

What is happening to the economy explained - from mortgages to pensions

Chancellor Kwasi Kwarteng's mini-Budget kick-started a chaotic chain of events that are now affecting everything from mortgages to pensions, with many homeloans pulled from the market and deals cancelled

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