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The Latest Breaking News from Economy

Gig economy and 'Uberisation' overhaul as Albanese government preps laws to change employment

After explosive growth in the gig economy, the government is set to introduce laws that will force minimum conditions for millions of flexible workers getting employment through apps.

ABC News

Maybe the US is in a recession, but small businesses don’t know it

Inflation is high, interest rates are rising and the stock market is down 18% … but small businesses are still hiring

The Guardian - US

S&P’s Upgrades Outlook FOR Saudi Economy to Positive

Standard & Poor's (S&P's) Global Rating agency updated its outlook for Saudi Arabia to positive and upgraded its short and long term foreign and local currency sovereign credit ratings to A-/A-2. In a statement on Saturday, S&P said the positive future outlook reflects the strength of the Kingdom’s GDP growth…

Asharq Al-Awsat

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After the mourning, Truss and Kwarteng could find themselves on a sticky wicket

Britain’s problems are not high taxation or overregulation but poor growth caused by low investment

The Guardian - UK

Xi Jinping by Stefan Aust and Adrian Geiges; China After Mao by Frank Dikötter review – power and how to keep it

China’s president is shoring up his authority but, as Dikötter’s weighty study of the country indicates, he might have less of it than he thinks

The Guardian - UK

Biggest interest rate rise for 25 years could spell showdown at the Bank

This week’s decision could pit governor Andrew Bailey against an expansionary PM and chancellor

The Guardian - UK

Brighter employment figures proof of recovery, claims govt

Thailand's economy shows sign of recovery, following a dip in unemployment to its lowest level since the start of Covid-19 pandemic.

Bangkok Post

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Darwin has been hit by war before. What do locals make of a growing military presence in their backyard?

Fighter jets roar across the skies, US Marines stroll the streets, the port debate rolls on and billions are being spent on military upgrades in Australia's Top End. In this "garrison town", is the defence build-up underway making residents feel more or less safe?

ABC News

Liz Truss warned of mass bankruptcies if firms left in limbo over energy bills

PM to join in national ‘moment of reflection’ at No 10 as businesses warn of dire consequences if left in limbo over energy bills

The Guardian - UK

4 Important Market Topics to Determine Where We Go from Here

Last week, I talked about the likelihood of the S&P 500 (SPY) remaining range-bound due to the mix of bullish and bearish forces. One of the bullish forces was the resilience in earnings which have remained positive (+6% in Q2) despite adverse conditions. Another was the signs showing that inflation…

StockNews.com

French Cycling defends decision to fly elite men in business class but women in economy

The French Cycling Federation with hit with a wave of criticism after they opted to fly their elite men's team to the Cycling World Championships in Australia while the women travelled in economy

Daily Mirror

How the U.S. Paid for the Civil War

Lincoln's wartime governance had dire, and longstanding, economic consequences.

Reason

How Railroad Unions Almost Broke the Economy

The narrowly averted strike would have been an economic catastrophe. The story of how we reached the brink of that disaster is an illustrative one.

Reason

Nearly two-thirds of Argentines see economy getting even worse: poll

Nearly 64% of Argentines fear the country's ailing economy will get even worse in the coming months, according to a survey published on Friday, against a backdrop of surging inflation and the weakening purchasing power of the peso currency.

Reuters

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Benzinga

Post-Pandemic Unwind? 4 FedEx Analysts Talk Pre-Earnings Miss

FedEx Corporation’s (NYSE: FDX) stock dropped on Friday morning following its pre-earnings report on the status of the world economy, which some experts are referring to as a post-COVID-19 pandemic unwind.

The National (Scotland)

Germany working on nationalisation of three major gas companies in historic bid

GERMANY is reportedly in advanced talks to nationalise three large gas importers in a bid to prevent the collapse of its energy market.

The Guardian - UK

Companies declared insolvent in England and Wales jump by 43%

Businesses may struggle as consumers cut back spending amid high inflation and rising fuel costs, economists warn

The Independent UK

Pound sinks to new 37-year low

The pound has hit a new 37-year low against the dollar as new official retail figures painted a bleak picture of the UK's economy.

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news in one place.

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France 24

Online payments: A headache for Ivory Coast’s e-merchants

The e-commerce market is booming in Ivory Coast, French-speaking Africa’s largest economy. Currently worth around €46 million, it’s set to grow even more in coming years alongside the population. However, e-traders face a host of systemic challenges, from high transfer fees to restrictions on global online payment platforms such as…

Dynamite News

SCO Summit 2022: Ready to share India's Startup experience with SCO members, says PM Modi

"India's economy is expected to grow at 7.5 per cent this year, which will be the highest among the world's major economies." Read more on Dynamite News:

Edinburgh Live

West Lothian taxi shortage could hit recovery of night-time economy

Bathgate's night-time economy is struggling back on its feet after a two year lockdown. That has been made more difficult with the frustration of customers finding it difficult to get home as the number of taxis plummets

The National (Scotland)

Liz Truss deflecting on 'rubbish' leadership with Treasury attack, ex-civil service boss says

LIZ Truss is attacking the Treasury to deflect from years of “rubbish” leadership on the UK economy, a former civil service chief has said.

Al Jazeera

Zimbabwean bakers’ profits crumble amid Russia-Ukraine crisis

Zimbabwe’s bakers are losing staff and profits as Russian invasion of Ukraine disrupts global economy.

The Guardian - UK

Pound falls as weak retail sales raise fears UK economy is in recession

On Black Wednesday anniversary, sterling hits 37-year low against dollar and 17-month low against euro

Reuters

Lithuanian minister says Taiwan office a 'very important step'

The opening of the Lithuanian representative office in Taiwan is a "very important step" for both democracies and the two are on a good track for economic cooperation, a visiting vice minister from the Baltic state said on Friday.

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