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The Latest Breaking News from Economy

Approved foreign direct investment (FDI) rose 65% to 74 billion baht in the first seven months of the year, from the same period a year earlier, a government spokesman said on Friday, describing the trend as a sign of confidence in the economy.

Bangkok Post

Commentary: Could a return of the lost workers avert a recession?

There’s not much good to say about the U.S. economy today, with out-of-control inflation eroding household incomes and Americans bracing for a recession after gross domestic output shrunk in the first half of 2022.

Tribune News Service

Chinese City of 21 Million Shuts Down over Covid Outbreak

Around 21 million people in the Chinese city of Chengdu effectively went into lockdown on Thursday as authorities raced to snuff out a new Covid-19 outbreak. China is the last major economy wedded to a zero-Covid policy, stamping out virus flare-ups with snap shutdowns, mass testing and lengthy quarantines, AFP…

Asharq Al-Awsat

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FTSE 100 Live: US payrolls growth eases, helping global stocks and cooling the dollar

The pound is finding some relief as traders mull the implications of jobs figures from the US economy, which have boosted the mood on global stock markets, helping the FTSE rise over 1% at the end of a rough week.

Evening Standard

Crisis-hit Zambia secures $1.3bn IMF loan to rebuild stricken economy

Years of mismanagement have led to soaring debt levels, but critics say that without meaningful relief, austerity will continue

The Guardian - UK

Pension rules relaxed for senior workers

The jobs and skills summit has settled on 36 "concrete" steps including a measure to allow pensioners to work extra hours without losing their payments.

AAP

China diplomacy key to green steel bonanza

Energy-hungry industries get little advantage from Australia being richly endowed with gas and coal, but mining and steelmaking could win in a net-zero economy.

AAP

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America’s getting back to work, and that includes Illinois

Since Joe Biden took office, we’ve added 9.5 million jobs to the economy. The unemployment rate has plunged to 3.5%, matching a 53-year low.

Chicago Sun-Times

Long COVID has put 4 million out of work

A new study reckons with the incredible economic impact of long COVID, which has erased over 2% of the workforce

Salon

Why the aviation industry must look beyond carbon to get serious about climate change

Commercial aviation has become a cornerstone of our economy and society. It allows us to rapidly transport goods and people across the globe, facilitates over a third of all global trade by value, and supports 87.7 million jobs worldwide. However, the 80-tonne flying machines we see hurtling through our skies…

The Conversation

Fed is hoping August hiring report will show slowdown

Raging inflation has so scrambled the economy that it’s come to this: If Friday’s jobs report for August were to show a significant hiring slowdown, the Federal Reserve — and even the White House — would likely welcome it

The Independent UK

German civil servants investigated over ‘spying for Russia’

Officials linked to energy supply suspected of trying to obstruct economic policies, reports Die Zeit

The Guardian - UK

Is a recession coming? How to make the most of your paycheck

The economy is weird right now.

Los Angeles Times

‘Fantastic number’: TV anchors miss the nuance in 13.5% GDP growth

The Indian economy grew by 13.5 percent in the April-June quarter of 2022, according to data released by the National Statistical Office on Wednesday. This figure may sound impressive, especially given the dismal numbers over the past two years, but there is more than meets the eye.

Newslaundry

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The New Daily

Summit’s lack of focus is partly the point: Three takeaways from a talkfest

Thursday's talkfest on the nature of employment in the Australian economy was dazzling for the diversity of its contributions.

AAP

Policy shock to set up prosperity: Garnaut

Renowned economist Ross Garnaut says Australians need to stop "kidding themselves about how well our economy is performing" as he calls for reform.

Axios

Janet Yellen kicks off month-long economic victory tour to sell Biden's achievements

The Treasury secretary plans to spend some of her intellectual capital to make the case for Biden's economy.

Asharq Al-Awsat

Türkiye’s Economy Grows 7.6% in Q2 2022

Türkiye’s economy grew 7.6% year-on-year in Q2 2022 as expected, extending a hot streak on strong domestic demand and exports, according to new data on Wednesday. Gross domestic product (GDP) expanded 2.1% compared with the previous quarter on a seasonally and calendar-adjusted basis, Turkish Statistical Institute (TurkStat) data showed. A…

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AAP

Transition body for coal workers proposed

The Jobs and Skills Summit has been told a transition agency for coal and gas workers would be critical to boost employment in a clean-energy economy.

Birmingham Post

South West business confidence rebounds amid economic turmoil

Business leaders in the region remain optimistic about the state of the economy over the next year

Al Jazeera

India’s economy grows by 13.5 percent but misses target

The jump came because of the low base of the previous quarter and economists have cautioned of a slowdown.

Reuters

Zambia wins IMF board approval for $1.3 billion loan program

Zambia won International Monetary Fund approval for a $1.3 billion, 38-month loan program on Wednesday, a crucial step in the southern African country's quest to restructure its debts and rebuild an economy ravaged by mismanagement and COVID-19.

The Conversation

Health or economy? Making the best impossible decision in the face of COVID-19

When Indonesia, Southeast Asia’s largest economy, first began grappling with COVID in 2020, its government was widely criticised for choosing to save the economy over people’s lives in its COVID-19 policies.

The Conversation

The jobs summit needs to think big: here are 3 priorities for future-proofing Australia

This is an edited extract from Danielle Wood’s keynote address to the jobs summit. Read other articles in The Conversation’s series about the summit here.

Newcastle Herald

Workers at heart of just energy transition

There is much at stake, so Australia must prepare for a fair and equitable energy transition.

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