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The Latest Breaking News from Economy

Unions warn of impact on workers of interest rate rise

The TUC has called for a new economic plan.

The Independent UK

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.

Axios

UK is heading for longest recession in a century, Bank of England warns

The Bank of England issued a gloomy warning about the future of the British economy as it hiked interest rates to 3%, the biggest single rate rise in three decades

Daily Mirror

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Bank of England signals interest rates probably won’t go much higher

Central bank felt the need to massage down interest rate expectations amid fears over impact on UK economy

The Guardian - UK

Five-time congressional candidate running against a five-term congressman

The race in the sixth congressional district pits a five-term U.S. representative against a perennial candidate in the central Kentucky area. There are also two write-in candidates on the ballot.

WEKU

Pembroke net zero centre could add millions to Welsh economy and create thousands of jobs - report

RWE plans to build the new net zero centre at Pembroke Power Station by 2040

Birmingham Post

Italy's Meloni reassures EU on her first foreign trip as premier

Italy's new Prime Minister Giorgia Meloni made her first foreign trip in office on Thursday to the heart of the European Union, showcasing her commitment to the bloc mindful of her nationalistic views and spending plans.

Reuters

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How Jerome Powell Swung The Market Pendulum As He Went From 'Dovish' And 'Pivot' To Most 'Hawkish'

What a difference a day can make! This rang true for the market, which went from euphoria to despair within a day.

Benzinga

Fisher: China’s Economy Can Weather a Global Recession — if One Even Hits

History shows Chinese growth can persist despite pockets of weakness and recession elsewhere

Caixin Global

Cracks in Vietnam rattle investors

Financial markets in Vietnam, Asia’s fastest-growing economy, are in an unsettling slide as a crackdown on property lending, a falling currency and rising interest rates heap pressure on banks and rattle confidence.

Bangkok Post

UK in ‘prolonged recession’ as Bank of England hikes interest rates to 3%, knocking pound – as it happened

Bank of England has made its biggest interest rate rise in three decades, but signals rates won’t rise as high as markets had expected

The Guardian - UK

Republicans and Democrats are spending billions on ads – with very different messages

While Democrats focus on abortion, Republicans are talking about inflation, crime and taxes

The Guardian - US

A Practical Way to Make Sense of All the Shocks Hammering the Global Economy

Brexit, the US-China trade war, Russia’s invasion of Ukraine—more such geopolitical surprises will continue the economic upheaval.

Businessweek

Powell: Rate hikes may slow, but inflation fight hardly over

Federal Reserve Chair Jerome Powell sought to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections

The Independent UK

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Tribune News Service

Bolsonaro calls on his supporters to lift Brazil roadblocks

Brazil’s President Jair Bolsonaro called on his protesting supporters to dismantle hundreds of road blocks, saying these harm the economy and aren’t a legitimate form of demonstrating.

Bangkok Post

Bypass from Central regions to South due in 2025, says dept

The Department of Highways (DoH) has unveiled the progress made so far on its plan to upgrade the Cha-am Road or Highway No.37 bypass with a budget of 7 billion baht to ease congestion and boost the economy and tourism.

The Independent UK

California on track to become the fourth largest economy in the world

Golden State poised to pass Germany and sit behind only US, China and Japan

Bangkok Post

Bank of Thailand still upbeat despite headwinds

The Thai economy will face more challenges next year amid global uncertainties, but its recovery remains on track, according to a Bank of Thailand (BoT) executive.

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Reuters

Malian minister says Russia will ship food and fuel to Mali in coming weeks

Mali expects Russia to send shipments of fuel, fertiliser and food worth around $100 million to Mali in the coming weeks, the West African country's economy minister, Alousseini Sanou, said on Wednesday.

Bangkok Post

Interest rates anticipated to peak later this month

Global interest rates are projected to reach a ceiling later this month as inflation fears have eased and several central banks are starting to worry about the impact of aggressive monetary policies on the global economy, says Tisco Securities.

Bangkok Post

Thailand's digital GDP skyrockets to B2tn in 2021

Thailand's digital GDP reached 2 trillion baht in 2021 after posting year-on-year growth of 14.1%, according to a study by the Office of the National Digital Economy and Society Commission (ONDE).

Bangkok Post

Risk of global financial crisis spiking

I am writing this article in Tokyo. Judging from my walks around the city during the past week, and despite the fact everyone is wearing face masks, it's like Covid has vanished. Subways and trains are jam-packed and shopping areas are full of people. However, the pandemic has left some…

Tribune News Service

Logistics giant CH Robinson sees slowing economy ahead as revenue declines on lower shipping rates

C.H. Robinson Worldwide is the latest Fortune 500 company to see signs of a slowing economy.

The Independent UK

Parts of economy starting to break down due to social care struggles – Labour

Liz Kendall said she fears the Government does not have a serious plan to address the ‘absolute crisis’ in the care workforce.

Daily Mirror

Jeremy Hunt privately backed Labour's plan to boost student doctor numbers

The Chancellor is preparing to unveil eye-watering cuts on public spending after the Tories crashed the economy - but a leaked email shows he previously said ministers should pinch Labour's idea to double medical school places

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