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The Latest Breaking News from Economy

EU Ministers Seek Ways to Face Energy Shock

EU energy ministers on Friday will attempt to forge a united response to the energy shock from Russia's war on Ukraine that has sent prices for electricity and heating skyrocketing. Moscow's invasion has seen the price of natural gas hit record levels, throwing the EU economy into deep uncertainty with…

Asharq Al-Awsat

Germany's neighbours reluctant to sign gas sharing pacts - newspaper

Germany's neighbours are reluctant to sign bilateral agreements with Berlin on sharing gas in an emergency, Welt newspaper reported on Thursday, citing an economy ministry document.

Reuters

Truss’ policy will suppress inflation but stoke interest rates

While the policy will reduce inflation in the near term, by supporting economic activity it will boost inflation further ahead

Evening Standard

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Gilbert Family Foundation Launches Venture 313, Building On Support Of Detroit's Entrepreneurial Ecosystem

The Gilbert Family Foundation on Thursday announced the launch of Venture 313, a three-year, $10 million commitment that will help fulfill Detroit’s entrepreneurial potential and provide founders with opportunities to participate in the innovation economy.

Benzinga

Germany to extend energy subsidies to smaller firms amid closure fears

Economy minister says ‘demand shock’ must be addressed, as economists raise fears of recession

The Guardian - UK

“I believe many businesses will still be forced to close” - Sacha Lord wants clarity for hospitality industry as energy support announced

The night-time economy advisor believes new measures will not be enough to avoid closures and redundancies

Manchester Evening News

European Central Bank unveils the biggest interest rate hike in its 24-year history

The super-sized interest rate hike comes at a staggering moment for the eurozone economy.

Axios

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RBA boss Philip Lowe flags slower rate hikes, rebukes critics calling for his resignation

Reserve Bank governor Philip Lowe has foreshadowed slower mortgage bill hikes later this year as the bank grapples with massive uncertainties about the outlook for soaring inflation and the economy.

The New Daily

Northern transport decline 'inevitable' without government investment

Transport for the North has called on the government for investment to transform the economy

Liverpool Echo

CCP on shaky ground ahead of party congress / Zero-COVID policy takes toll on Chinese economy

The Chinese government is facing a number of challenges as it prepares for the Communist Party Congress next month. This is first in a three-part series analyzing the issues.

The Japan News/Yomiuri

Commentary: Can space save Earth?

The world economy is in the doldrums, pessimism is rife around the world, and most young people, according to one survey, believe climate change means the end of human life on Earth.

Los Angeles Times

Every citizen should be proud of India becoming world's fifth largest economy, says PM Modi

The Prime Minister interacted with some of the beneficiaries and appealed to farmers to switch to natural farming

The Hindu

Poll: Abortion and inflation collide as top issues in midterm elections

Democrats and many independents are motivated by the issue of abortion, while Republicans have the advantage on the economy, according to a new NPR/PBS NewsHour/Marist poll.

WEKU

Stuart Rothenberg: Learning from the 1998 and 2002 midterms

The 1998 and 2002 elections remain the only times since 1932 that the president’s party has gained House seats in a midterm. Do those elections tell us anything about this year’s election?

Tribune News Service

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Asharq Al-Awsat

China's Chengdu Extends Covid Lockdown

The Chinese megacity of Chengdu has extended a Covid-19 lockdown in most areas, maintaining curbs that have ground business to a halt and confined the majority of its 21 million residents to their homes. China is the last major economy welded to a zero-Covid strategy, tamping down virus flare-ups through…

Al Jazeera

Xi and Putin expected to meet for first time since Ukraine war

Chinese and Russian leaders expected to meet on sidelines of Shanghai Cooperation Organisation summit in Uzbekistan.

Pedestrian.tv

Govt Warns Not To Expect Much Cost Of Living Help In Oct Budget So I Guess We’re On Our Own

If you’re expecting cost of living relief in the next Federal Budget, I’m sorry to say you may be disappointed. Prime Minister Anthony Albanese and Treasurer Jim Chalmers have warned offering such help can sometimes be ‘counter-productive’ so I guess it’s everyone for themselves!!!!!“I want to level with people … You want to…

Bangkok Post

Depa to deploy big data to transform Thai tourism

The Digital Economy Promotion Agency (Depa) is working with tourism authorities and other partners to forge ahead with a smart tourism drive by capitalising on big data to transform the industry.

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The Hindu

How ideology muddled inflation control in India

The agencies responsible for macroeconomic policy have hitched their wagon to Anglo-American economics

Newcastle Herald

Interest rates an 'outdated and unrealistic' weapon against inflation

A healthy economy needs a population that can aspire and afford to live at least reasonably, if not well.

The Guardian - AU

Australians are spending hard, despite real wages falling. It’s a fragile situation

The GDP recovery looks strong, but it’s largely driven by households dipping into savings. Meanwhile, company profits are exploding

Tribune News Service

Cardona defends student loan plan as ‘one-time’ COVID-19 remedy

WASHINGTON — Education Secretary Miguel Cardona pushed back Wednesday against Republican criticism of the Biden administration’s new student loan debt forgiveness program, saying it would curb defaults and boost the economy.

The Times of India

IMF chief says India 'a bright spot' in global economy

NEW DELHI: International Monetary Fund's (IMF) managing director Kristalina Georgieva on Thursday said that despite global uncertainty and headwinds, India continues to be a bright spot in the global economy.

Reuters

German economy minister under fire as German companies sound alarm on energy prices

German Economy Minister Robert Habeck faced a backlash on Wednesday for saying he could imagine parts of the economy stopping production due to rising energy prices that German firms say are threatening their existence.

StockNews.com

2 Stocks to Avoid if You Don't Want to Lose Money

The Fed’s hawkish stance has increased the odds of the economy tipping into a recession. Therefore, it could be wise to avoid fundamentally weak crypto-focused stocks Coinbase Global (COIN) and Riot Blockchain (RIOT), as they are not well-positioned to survive the market uncertainties. Read on….

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