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The Latest Breaking News from Economy

Commentary: The Fed’s monetary malpractice will cost you

The goal of the latest interest rate hike from the Federal Reserve? To avoid a deep recession “by acting with resolve now,” according to Fed Chairman Jerome Powell. But if history is any guide, this is a case of too little, too late.

Tribune News Service

Democrats will struggle to keep control of Congress in midterms, expert says

Ray Fair’s latest analysis suggests Democrats will get 46.7% of the national vote – and he usually comes within 3% of the final tally

The Guardian - US

AP PHOTOS: Backbreaking work for kids in Afghan brick kilns

Aid agencies say the number of children working in Afghanistan is growing ever since the economy collapsed following the Taliban takeover more than a year ago

The Independent UK

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Taiwan to drop quarantine for arrivals by mid-October

East Asian economy is one of the few remaining places still requiring visitors to quarantine.

Al Jazeera

Powell's stark message: Inflation fight may cause recession

The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession

The Independent UK

'Brownhog Day' as ex-PM's think tank calls for 'Scottish Treasury' to boost growth

GORDON Brown’s Unionist think tank has called for the creation of a Scottish Treasury in a move which has been branded a “carrot” for voters.

The National (Scotland)

Palau calls for greater U.S. support as it renegotiates bilateral agreement

The Pacific island state of Palau, which finds itself at the heart of a geostrategic struggle between the United States and China, called on Wednesday for greater U.S. support to build its infrastructure and economy.

Reuters

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Thai digital content set to hit B62.4bn

The value of Thailand's digital content industry is expected to reach 62.4 billion baht by 2024, up from 42 billion baht last year, driven by strong growth in the gaming sector and the recovery of the animation industry, says the Digital Economy Promotion Agency (Depa).

Bangkok Post

US has sent $8.28 billion in pandemic funds to local lenders

On the same day the Federal Reserve gave a sobering report on the U.S. economy’s trajectory, administration officials highlighted how they have kept some of the nation’s smallest businesses afloat through the pandemic

The Independent UK

DES cracks down on peddling of bogus investments

The Digital Economy and Society (DES) Ministry says it will send a list of websites and social media pages suspected of luring people into bogus asset investments to the Bank of Thailand and the Securities and Exchange Commission (SEC) to check the licences, as part of a crackdown on scammers.

Bangkok Post

EVA Air introduces new meal options

EVA Air is launching new meal choices, especially for Premium Economy and Economy Class passengers on flights from Taipei to the United States, Canada, Australia and nonstop to Europe, from Oct 1 to Dec 31.

Bangkok Post

Fed hikes interest rates amid rampant inflation, despite recession risk

Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that will heighten the risk of an eventual recession.

France 24

US Fed hikes interest rate to highest level since 2008

Announcement sparks concern that fight to contain sky-high US inflation could tip the economy into a recession.

Al Jazeera

Mini-budget predictions: What should we expect from Kwasi Kwarteng?

The Standard looks at the moves the chancellor could announce

Evening Standard

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Wales Online

Used car expert offers fuel savings tips after 89% of drivers use potentially dangerous "hypermiling" techniques

The experts also breakdown the dangers of hypermiling and the damage it can do to your car

ABC News

Today's public holiday costs the economy almost $2 billion, as shops close and tradies down tools

Subbies are taking the day off without pay and shops are closing rather than paying staff extra wages. Cafes and restaurants that do stay open are often lumping the extra cost onto the consumer.

Asharq Al-Awsat

Iran Restricts Access to Instagram as Protests Intensify

Iran has restricted access to Meta Platforms Inc's Instagram, one of the last remaining social media platforms in the country, amid protests over the death of a woman in police custody, internet shutdown observatory NetBlocks said. The death of 22-year-old Mahsa Amini, who was arrested by morality police in Tehran…

Reuters

Germany takes over Uniper, raising rescue bill to $29 billion

Germany on Wednesday agreed to nationalise Uniper, raising the bill to rescue the gas importer to 29 billion euros ($28.7 billion) amid an escalating energy crisis that shows just how much Europe's top economy has relied on Russian fuel.

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StockNews.com

Don’t Let These 2 Stocks Sink Your Portfolio in Q4

The cruise industry is struggling amid high inflation and the Fed’s aggressive interest rate hikes. Moreover, a slowing economy seems to be weighing on consumer demand. Hence, it might be best to avoid cruise stocks Carnival Corporation (CCL) and Norwegian Cruise (NCLH) for the rest of the year. Read on….

The Guardian - UK

Ed Davey: Truss government is probably most rightwing in modern UK history

Exclusive: Lib Dem leader says refusal to allow OBR scrutiny of mini-budget ‘shows economy is being run by ideology, not a plan’

The Independent UK

The key to maintaining CX quality in a down economy

THE ARTICLES ON THESE PAGES ARE PRODUCED BY BUSINESS REPORTER, WHICH TAKES SOLE RESPONSIBILITY FOR THE CONTENTS

Evening Standard

What is trickle down economics? Liz Truss’s suggestion for the UK economy

Liz Truss and Joe Biden are at odds over her plans to increase growth

The Hindu

Recession unlikely to hit India due to 'not so coupled' nature with global economy: Rating agency S&P

Paul F. Gruenwald, S&P global chief economist, said a lot depends on how global fund flows behave if there is a recession in the U.S. and Europe.

Belfast Live

Kilbroney Chronicles of Narnia experience set for major upgrade

"This will no doubt attract a wider tourism catchment to the Mournes that will benefit the local economy and the community."

Asharq Al-Awsat

UAE Economy Minister: Global Economic Challenges Need Establishing Developmental Solutions

A UAE minister said on Tuesday that the current global economic challenges underscore the strategic importance of developing more developmental solutions through new economic sectors that are capable of fulfilling the sustainable development requirements and creating growth opportunities. Economy Minister Abdulla bin Touq al-Marri stressed that the United Arab Emirates…

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