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The Latest Breaking News from Economy

Who gains or loses, what's next in Italy crisis

Italian Premier Mario Draghi's decision to turn in his resignation after his “unity” coalition broke apart dramatically in Parliament was the latest step in a political crisis that could take months before a new government is solidly in place to lead the European Union's third-largest economy

The Independent UK

ADB cuts India GDP forecast for FY23 to 7.2% on Covid, war impact amid inflationary pressure

NEW DELHI: Asian Development Bank (ADB) on Thursday trimmed India's economic growth forecast for current fiscal year to 7.2 per cent from 7.5 per cent as pandemic and war impact is weighing down alongside inflationary pressures.

The Times of India

Analysis-Race for Downing Street drives tax policy split into UK Conservatives

Differences over how to revive Britain's slow-growth, high-inflation economy could hardly be starker within the ruling Conservative Party as the two remaining contenders to become its new leader, and thereby prime minister, clash over tax.

Reuters

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Truss v Sunak: how do Tory PM contenders differ on policy?

What promises are leadership rivals making in terms of economy, climate, education and levelling up?

The Guardian - UK

How DoorDash delivery drivers became the new YouTube stars

The gig workers who get your food to you on time (hopefully) are sharing behind-the-scenes footage on social media.

Input

How inflation pressures will make our economy fighting fit

Price pressures will force our economy to become more flexible and efficient – and thus less vulnerable to embedded inflation.

Newsroom.co.nz

Amateur investors keep on punting while professionals avoid shaky stock market

PROFESSIONAL investors are sitting on the sidelines nervous about the economy and wobbling markets, but the amateurs are still piling in, figures from two top City firms today suggest.

Evening Standard

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Myanmar's economy fragile as fighting, inflation hit poor

Reports by the World Bank and other experts say army-ruled Myanmar's economy remains fragile as civil strife, inflation and onerous policy decisions add to troubles facing farmers and businesses

The Independent UK

Tory leadership race: Rishi Sunak calls himself ‘common sense’ Thatcherite – as it happened

Former chancellor says UK ‘needs to control borders’ and again references Margaret Thatcher

The Guardian - UK

How reliant is Germany – and the rest of Europe – on Russian gas?

As Russia reopens Nord Stream pipeline at lower capacity, pressure remains to reduce consumption and dependency on Russia

The Guardian - UK

US, Africa Business Summit Discusses 'Building Future Together'

Moroccan Foreign Minister Nasser Bourita has said that Africa needs active partners who do not exploit short-term opportunities, noting that it is time for the continent to reap the fruits of its potential and play its pivotal natural role in the international arena. "It is time for Africa to reap…

Asharq Al-Awsat

Profile: Ranil Wickremesinghe, Sri Lanka’s new president

The veteran politician has been elected president by the members of Sri Lanka’s parliament.

Al Jazeera

Liz Truss: Who is the foreign secretary hoping to become Prime Minister?

Social media savvy ‘human hand grenade’ seen as continuity candidate and faces uphill battle to displace Rishi Sunak

The Independent UK

Asia shares slip on inflation, China fears despite US rally

Asian shares have mostly fallen on persistent concerns about inflation and the Chinese economy, despite an overnight rally on Wall Street

The Independent UK

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The Guardian - UK

Interest rates: the three central banks facing one tricky balancing act

In the fight against inflation the ECB, Bank of England and Federal Reserve risk either doing too much too soon, or too little too late

Al Jazeera

China investors call it quits as Xi, ‘zero COVID’ sap confidence

Overseas investors shed a record $150bn in yuan-denominated assets in the first quarter of this year.

Al Jazeera

Asia’s economic growth outlook slashed on China, Ukraine fears

Asian Development Bank forecasts region’s developing economies to grow 4.6 percent in 2022 amid worsening conditions.

Bangkok Post

Role of BCG economy discussed at Apec forum

The Bio-Circular-Green (BCG) model, Thailand's new economic model for inclusive and sustainable growth, can boost business opportunities after the pandemic has subsided, local experts told an Asia-Pacific Economic Cooperation (APEC) forum yesterday.

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Chicago Sun-Times

Electric vehicle makers now aiming to win over mainstream buyers

They targeted early EV rollouts at customers who wanted a short-range economy car, then shifted to luxury buyers and pickup and delivery van drivers. Now, they want you.

The Hindu

The cost of misrepresenting inflation

The inadequacy of monetary policy to address food-price-driven inflation has been recently flagged

Benzinga

Canadian Initiatives Award Millions For Cannabis Firms To Transform The Country's Prairies

Canadian federal agencies have made available millions of dollars for cannabis business expansion and research, reported MJBizDaily. The funds were allocated to businesses that contribute to transforming regional economies.

The Guardian - UK

The Guardian view on the UK economy: what an almighty mess

An unprecedented number will spend this winter choosing between freezing and starving. Britain needs an active state to help

The Times of India

Indian economy to grow 7-8% in next couple of decades: Panagariya

NEW DELHI: Indian economy, which has grown fairly rapidly in the last 17 years, will grow at 7-8 per cent in the next couple of decades, former Niti Aayog vice chairman Arvind Panagariya said on Wednesday.

Asharq Al-Awsat

Rishi Sunak, Heir Apparent Who Ran Afoul of Boris Johnson

Rishi Sunak was seen as Boris Johnson’s natural heir, until he turned on the prime minister who put him in charge of Britain’s economy. The former Treasury chief, who quit earlier this month after questioning Johnson’s competence and ethics, is one of the two final contenders to replace Johnson as…

StockNews.com

3 Beaten-Down Stocks to Avoid in July 2022

The Fed has indicated a 75 basis-point interest rate hike in its next meeting, increasing the odds of the economy tipping into a recession in the next 12 months. Given the deteriorating market sentiments, it could be wise to avoid beaten-down stocks The Walt Disney (DIS), Teladoc Health (TDOC), and…

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