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The Latest Breaking News from Economy

UK economy on brink of recession as Truss takes over, figures show

Activity in manufacturing and services fell last month as businesses struggle with soaring costs

The Guardian - UK

Andhra Pradesh to get investments worth Rs 1.26 lakh crore, green energy to attract Rs 81k crore

AMARAVATI: In a move that could pump required energies to the state’s economy, the State Investment Promotion Board (SIPB) on Monday cleared proposals with investment to the tune of Rs 1,26,622 crore. State is getting Rs 81,000 crore investments in green energy sector alone.

The Times of India

Next PM Truss promises ‘bold’ Tory vision as she targets 2024 election win

She said she would deliver on a plan to boost the economy and deal with the cost-of-living crisis after winning the Tory leadership.

The Independent UK

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Tackling inequality key to climate fight

Tackling inequality is key to securing the public support needed to overhaul the global economy and reverse climate change, an update to the landmark 50-year-old computer simulation of environmental stress has found.

The Hindu

With Americans having fewer children and the nation’s labor force getting older, many employers in manufacturing, aviation and other industries are having trouble finding enough workers.

The Conversation

New PM Liz Truss promises to 'deal' with people's energy bills amid cost of living crisis

The new PM claims she will "deliver a bold plan to cut taxes and grow out economy"

Manchester Evening News

Liz Truss faces a financial whirlwind – will her plans for the economy work?

Liz Truss may have won the battle to become Britain’s next prime minister, but don’t expect much time for her to settle into office. People’s living standards are predicted to fall by an unprecedented 10% over the next two years, driven by rising prices of energy and other goods.

The Conversation

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Euro Plunges to 20-Year Low after Russian Gas Halt

The euro sank to a new 20-year low on Monday and below $0.99 after Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the region. The euro has been increasingly correlated with natural gas prices in recent months, with the…

Asharq Al-Awsat

Wastewater could fuel Hunter's hydrogen economy

Millions of litres of wastewater could be used as fuel for green hydrogen production rather than being dumped at sea as part of a plan to transform the Hunter' long-term energy base.

Newcastle Herald

Tackling inequality key to climate fight - study

Reuters

China policymakers see renewed urgency for economic support

Chinese policymakers signalled a renewed sense of urgency on Monday for steps to shore up the flagging economy, saying this quarter was a critical time for policy action as evidence points to a further loss of economic momentum.

Reuters

In charts: India likely to overtake Japan as third-largest economy by 2029

NEW DELHI: With India surpassing the United Kingdom (UK) to become the world's fifth largest economy, a report by the State Bank of India (SBI) suggests that the country will outstrip two other major economies to become the third-largest economy by 2029.

The Times of India

Some Economists Rethink When, if Ever, China Will Pass U.S. in GDP

The sharp slowdown in China's growth in the past year is prompting many experts to reconsider when China will surpass the U.S. as the world's largest economy -- or even if it ever will.

Bangkok Post

Catastrophe, pollution, dirty subsidies and nature capitalism: another week in the climate crisis

The chance of extreme events is increasing because emissions aren’t slowing down. The hard work to transform the economy has barely begun.

The Guardian - AU

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Reuters

EU to disburse 5 billion euro in aid to Kyiv this week - Ukrainian PM

Ukraine expects to receive 5 billion euros ($4.98 billion) in macro-financial aid from the European Union this coming week to support the economy and army, and to prepare for the looming winter, Ukrainian Prime Minister Denys Shmyhal said on Sunday.

The Conversation

Only South Africa's elite benefits from black economic empowerment -- and COVID-19 proved it

More than two decades ago the South African government put in place a policy designed to redress racial imbalances in the country’s economy. But, as I suggest in a recent paper, the policy – known as broad-based black economic empowerment) – has been hijacked and repurposed by individuals and factions…

The Independent UK

Truss insists national insurance cut is fair despite it benefitting high earners - OLD

The Tory leadership hopeful said ‘growing the economy benefits everybody’.

Chronicle Live

Liz Truss promises 'immediate action' on energy bills if she wins bid to be Prime Minister

The Government has been urged to intervene to support the most vulnerable, with energy bills set to rise to around £3,500 this winter for the average household

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The Guardian - UK

UK needs to be put on an economic war footing for the coming recession

Incoming prime minister’s only priority over next few weeks should be to avoid meltdown

The Independent UK

Liz Truss: Who is the UK’s new prime minister?

‘Human hand grenade’, seen by many Tories as Johnson continuity figure, confirmed as his successor after leading Rishi Sunak throughout leadership race

Daily Mirror

Scientists warn California's entire economy could be wiped out in weeks by 'megaflood'

Devastating floods like those seen in Pakistan and South Africa are likely to become increasingly common, a new paper warns, with a megaflood in California potentially causing eight feet of rainfall in a month

The Conversation

How the jobs summit shifted gender equality from the sidelines to the mainstream

The last time an Australian government hosted a national jobs summit, only one woman was present. It was 1983, and that woman was Susan Ryan, a minister in the Hawke government and the trailblazing architect of the Sex Discrimination Act.

AAP

Mortgage holders brace for rates decision

All eyes will be on the Reserve Bank of Australia's official cash rate announcement on Tuesday as new data sheds light on the state of the economy.

Wales Online

Truss vows ‘immediate action’ on energy bills if she becomes PM

There have been ever-louder calls in recent weeks that the Government intervene to support the most vulnerable, with energy bills set to rise to around £3,500 this winter for the average household

Manchester Evening News

Tory leadership contest favourite Liz Truss vows ‘immediate action’ on energy bills if she becomes PM

"These are tough times and the months ahead will be hard"

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