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The Latest Breaking News from Economy

Recession Ireland: Dublin's economy faces 'slow down' as Eddie Hobbs might be proven right

Inflation will 'likely' have a negative effect on businesses in the second half of 2022

Dublin Live

Malaysia not at risk of collapsing like Sri Lanka: minister

Malaysia is stable and is not at risk of going bankrupt like Sri Lanka, Finance Minister Zafrul Aziz said, citing the International Monetary Fund’s prediction for the economy to expand 5.75% this year as reason for confidence.

Bangkok Post

Why urgent action is needed to reform malfunctioning capitalism

Measures needed include greater parity between debt and equity and tougher action against collusive behaviour

Birmingham Post

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Johnson defends his leadership at final Cabinet meeting

The Prime Minister highlighted efforts to protect the economy during the pandemic, measures to help the cost of living and his commitment to net zero.

The Independent UK

Biden approval rating drops to all-time low amid worries over inflation and looming recession, new poll shows

Poll shows Joe Biden and Kamala Harris’s favourability has taken a nose dive

The Independent UK

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 favourites Rishi Sunak and Penny Mordaunt

The Independent UK

US promotes ‘friend-shoring’ of trade with eye on China, Russia

US treasury secretary highlights economic threat posed by ‘unreliable countries’ during visit to South Korea.

Al Jazeera

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Janet Yellen pushes to diversify global trade away from "unfair" China

"We cannot allow countries like China to use their market position in key raw materials, technologies, or products to disrupt our economy."

Axios

For G20, Ukraine war an obstacle to cooperation on global economy

Finance ministers and central bank governors fail to sign communique amid divisions over Russia’s invasion of Ukraine.

Al Jazeera

Taiwan’s Lost Growth (Part 3): Taiwan’s Economy and Profits Have Stagnated Because Wages Have Not Recovered from the 1997 Crisis

The 1997 Asian financial crisis is a distant memory to most countries. But Taiwan hasn’t fully recovered from it because wages have been kept low.

The News Lens

Most Americans believe a recession on the horizon. Here’s how experts say to prepare for one

Seven in 10 U.S. consumers see an economic downturn ahead, assuming one hasn’t already started. But awareness doesn’t equal preparedness — two in three admit they aren’t ready for what they think is coming, according to a survey from MagnifyMoney, a personal finance website.

The Denver Post

Nearly £25bn of consumer spending could be ‘lost’ this financial year

The ‘cut-back economy’ could mean nearly nine in 10 people reducing their discretionary spending, according to Grant Thornton and Retail Economics.

The Independent UK

New FEC filings show no sign of donors abandoning Democrats

WASHINGTON — The president’s party usually loses seats in midterms, and those losses can be significant when the president is unpopular and the economy is in turmoil.

Tribune News Service

It’s taken a leadership race for the Tories to fess up: they’ve wrecked the economy

Don’t take my word for it that they are the low-growth party? Just ask Liz Truss and Tom Tugendhat, says the Guardian columnist Owen Jones

The Guardian - UK

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Newsroom.co.nz

Does Labour have the guts to act on climate?

The Government's decision to extend fossil fuel subsidies for a further five months raises red flags for the hard but necessary transition to a low-carbon economy.

Reuters

Sri Lanka's Wickremesinghe says Rajapaksa government covered up facts - CNN

Sri Lanka's acting President Ranil Wickremesinghe has told broadcaster CNN that Gotabaya Rajapaksa's government was "covering up facts", while adding that he aimed to stabilize the island nation's devastated economy by the end of 2023.

Reuters

Estonian PM regains ruling majority, warns of tough times ahead

The new cabinet of Estonian Prime Minister Kaja Kallas was sworn in on Monday, re-establishing political stability, but she warned of tough times ahead for the economy as energy costs soar and inflation rages in the fall-out from the war in Ukraine.

The Conversation

View from The Hill: Chalmers warns he'll deliver bad news in parliament's first week

The first week of the new parliament will contain some depressing news, with Treasurer Jim Chalmers on Monday softening up the community to expect a “confronting” statement on the economy.

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Nottingham Post

The Conservative leadership candidates Nottinghamshire MPs are backing

Who's backing who?

The New Daily

‘A weird dinging sound that everyone dreads’: What rapid deliveries mean for workers

'You’re not a person when you walk in the door, you’re a machine': Inside the supermarkets that offer on-demand home delivery.

Evening Standard

Conservative leadership race: London MPs make their pitch for favourite to be next PM

Rishi Sunak and Liz Truss stepped up their battle over taxes on Monday as the five contenders to be the next Prime Minister unveiled their vision for London.

The Hindu

Higher inflation won’t hurt T.N.’s economy: Palanivel Thiaga Rajan

Finance Minister says Tamil Nadu will hit its growth targets

The Independent UK

The AP Interview: GM's Barra stands by ambitious EV pledge

The economy is a bit wobbly, but General Motors CEO Mary Barra isn’t backing off of an audacious prediction: She pledges that by the middle of this decade, her company will sell more electric vehicles in the U.S. than Tesla, the global sales leader

The Independent UK

Interest rates could hit 2% or higher in the next year, says Bank policymaker

Outgoing Monetary Policy Committee member Michael Saunders said increases ‘still have some way to go’ in order to get inflation under control.

The Independent UK

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 favourites Rishi Sunak and Penny Mordaunt

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