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The Latest Breaking News from Economy

Plans for Highland golf course backed as ‘essential’ for local economy

THE new owners of one of the biggest hotels in the Highlands have said the development of a world-class golf course at Coul Links in Sutherland is…

The National (Scotland)

High costs, economy, abortion top last Pappas-Leavitt debate

U.S. Rep. Chis Pappas has accused his Republican challenger of treating politics as a performance without offering solutions to problems, while Karoline Leavitt has accused the Democratic incumbent of being a partisan problem creator during their third and last debate

The Independent UK

USTR Tai, Mexico's economy minister discuss energy, corn exports

U.S. Trade Representative Katherine Tai discussed differences with Mexico over its energy sector and U.S. corn exports in a virtual meeting on Thursday with Mexican Economy Minister Raquel Buenrostro, the USTR said in a statement.

Reuters

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Investors: Wake Up and Smell the Pain (Part 2)

How funny it was to see traders get it wrong once again. They misread the Fed announcement at 2pm ET leading to a big 1% rally for the S&P 500 (SPY). Within minutes of Chairman Powell speaking it dawned on every body that things have not gotten better...only worse. And…

StockNews.com

Govt defends foreign land ownership proposal

Interior Minister Anupong Paojinda on Thursday defended the ministry's foreign land ownership proposal, saying the move would attract investment and stimulate the economy.

Bangkok Post

NESDC rejects NT's 5G business plan

The National Economic and Social Development Council (NESDC) has rebuffed National Telecom's (NT) 5G business plan to capitalise on the 700-megahertz spectrum range, according to a source at the Digital Economy and Society (DES) Ministry.

Bangkok Post

Why has the Bank of England hiked interest rates? All your questions answered

The Bank of England issued a gloomy warning that the economy could fall into eight consecutive quarters of negative growth if current market expectations prove correct

Daily Mirror

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StockX issues another round of layoffs, the second since June

DETROIT — Detroit-based StockX has laid off more employees as it faces the challenges of a struggling economy. This is the second round of layoffs since June for the online resale platform.

Tribune News Service

Everything you need to know about today's Bank of England warning

The Bank of England have announced today that the UK is facing its longest recession since the 1920s, but what does that actually mean?

Liverpool Echo

White House holds firm on US avoiding recession as economy looms over midterms

‘We do not see it going into recession,’ White House says

The Independent UK

Voices: Republicans have convinced voters inflation is Biden’s fault — even though they have no plan to solve it

Polls show that the GOP has successfully managed to make inflation a deciding issue, without having a clear policy for combating it. What this implies about the future is scary

The Independent UK

Five Ways To Save Money In A Recession

The economy and a recession are at the forefront of voters’ minds as the U.S. heads into the midterm elections in a few days. Most voters think the U.S.

Benzinga

Bank of England warns of longest recession in 100 years as it raises rates to 3%

UK economy faces ‘very challenging outlook’ with recession now expected to last until middle of 2024

The Guardian - UK

Centrelink a barrier to Australian pensioners filling skills gaps, advocates say

Advocates say the barrier of Centrelink penalties is keeping the "grey economy" away from the workforce, despite moves in the budget to fix the problem.

ABC News

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Axios

Amazon pauses hiring for its corporate workforce

It said the hiring freeze is in response to the economy being "in an uncertain place."

The Guardian - UK

It may sound paradoxical, but Britain needs to spend its way out of recession

Cutting during a recession has been long discredited, says Guardian columnist Polly Toynbee

Daily Mirror

Ricky Ponting makes big Pat Cummins claim ahead of Australia's must-win T20 World Cup game

Australia star Pat Cummins has struggled at the T20 World Cup, taking just three wickets at an average of 36.66 and an economy rate of 9.16, and Ricky Ponting has suggested he should be axed

WEKU

The U.S. is trying to mend ties with Venezuela. One big reason? Oil

The Biden administration has extended an olive branch to Venezuela. It might sway Caracas to resume talks with the opposition for elections, and eventually let Venezuelan oil back on the world market.

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Al Jazeera

Bank of England delivers biggest interest rate hike in 33 years

Central bank raises key rate to 3 percent, warns UK economy is in a recession that could last two years.

StockNews.com

3 Strong Buy Stocks Begging to Be Bought in Q4

The Federal Reserve announced its fourth consecutive 75-bps rate hike yesterday. As the chances of the economy falling into a recession are tightening, fundamentally strong and resilient stocks Merck & Co (MRK), Biogen (BIIB), and Kroger (KR), which are rated Strong Buy in our proprietary rating system, could be safe…

Bangkok Post

BoE: Britain faces two-year recession

LONDON: The Bank of England raised interest rates to 3% on Thursday from 2.25%, its biggest rate rise since 1989, but it pushed back against expectations for further steep hikes, saying Britain faces a painful recession that could last two years.

Tribune News Service

US jobless claims hold near historic low despite cooling economy

Applications for US unemployment insurance last week fell slightly, hovering around historically low levels as the labor market holds strong despite a weakening economy.

Evening Standard

The Standard View: Higher interest rates, spending cuts and tax rises leave the economy on the brink

When it rains, it pours. Estate agent Savills predicts that the mainstream London housing market will suffer the most acute fall in prices out of all regions in 2023. That’s despite properties in the city enjoying the more modest end of price growth since the pandemic.

The Independent UK

Unions warn of impact on workers of interest rate rise

The TUC has called for a new economic plan.

Axios

WSJ poll: Anxious Americans disillusioned by economy ahead of midterms

It adds to a raft of signs that a disillusioned, anxious electorate is ready to use the midterms to punish the party in power.

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Christian Schmollinger

Chaiwut Thanakamanusorn

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