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The Latest Breaking News from Economy

Economics of War: Pain for Europe Now, Later for Russia

Across Europe, signs of distress are multiplying as Russia’s war in Ukraine drags on. Food banks in Italy are feeding more people. German officials are turning down the air conditioning as they prepare plans to ration natural gas and restart coal plants. A giant utility is asking for a taxpayer…

Asharq Al-Awsat

Economics of war: Pain for Europe now, later for Russia

Europe is feeling the pain from Russia's war in Ukraine

The Independent UK

China banks told to bail out property developers as mortgage boycotts threaten economy

Regulator’s intervention comes as thousands of homebuyers refuse to make mortgage repayments as crisis in property sector deepens

The Guardian - AU

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A heated steering wheel for $20 a month? What's driving the subscriptions economy

From gym memberships to music and movies, to razors, toilet paper, meal kits and clothes, there’s seemingly no place the subscription economy can’t go.

The Conversation

'A weird dinging sound that everyone dreads': what rapid deliveries mean for supermarket workers

Online grocery shopping has boomed since the pandemic began in 2020, with Woolworths and Coles steadily expanding their home-delivery offerings. Rapid delivery is the latest frontier.

The Conversation

A Shock-Proof Energy Economy

Taming Volatile Oil Markets Requires a New Kind of Government Intervention

Foreign Affairs

Dark clouds on the horizon

The drumbeat warning of recession is getting louder and more frequent, based on reports from the US and other major economies.

Bangkok Post

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Japan's crucial moments after Abe murder

It was a bullet that some people said would change Japan forever, and it certainly had people outside taking a closer look at the world's third largest economy. For me, hearing the news that Shinzo Abe had been shot on July 8 was a shock similar to the events of…

Bangkok Post

The Guardian view on Tory economics: for haves, not for have-nots

Editorial: Whoever is the next prime minister will likely resurrect a form of capitalism that almost broke the economy in 2008

The Guardian - UK

Aust economy to slow: Deloitte

The country's economy will chart a "middle ground" between recovering from the pandemic and continued uncertainty and rising interest rates and inflation.

AAP

The shocking history of Edinburgh's Sheriffhall mines that one worker never returned from

Owned by the Dukes of Buccleuch, at the end of the 18th century, one of the city's largest mines laid beneath the roundabout, that was a huge contributor to Edinburgh's economy in the 1800s

Edinburgh Live

Why a 2020s rerun of the Roaring Twenties remains wishful thinking

The 1920s also began dismally. But for a fourth industrial revolution to happen, much more has to be done

The Guardian - UK

Ghana’s return to the IMF within three years underscores its deeper economic problems

Ghana is again seeking assistance from the International Monetary Fund (IMF) to enable the country to meet its payments to the rest of the world and restore the health of government finances. It is the second time in the past three years and 17th since independence in 1957 that Ghana…

The Conversation

Ukraine War Shows West’s Dominance Is Ending as China Rises, Blair Says

The Ukraine war shows that the West's dominance is coming to an end as China rises to superpower status in partnership with Russia at one of the most significant inflection points in centuries, former British Prime Minister Tony Blair said. The world, Blair said, was at a turning point in…

Asharq Al-Awsat

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Reuters

Ukraine war shows West's dominance is ending as China rises, Blair says

Asharq Al-Awsat

G20 Chair Indonesia Says 'Many' Nations Condemned Russia at Talks

Many nations in the Group of 20 major economies condemned Russia's invasion of Ukraine and called for it to end the war during ministerial talks in Indonesia, the host said in its closing statement early Sunday. A two-day gathering of finance ministers and central bank governors on the resort island…

Asharq Al-Awsat

What's Next for the Euro after Slump against Dollar?

The euro's plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven the two currencies to parity for the first time in two decades. The European single currency sank to $0.9952 on Thursday -- a level not seen since the end of…

France 24

Zelensky sacks Ukraine’s top prosecutor, security chief

Ukrainian President Volodymyr Zelensky on Sunday sacked his chief prosecutor and the head of the country’s security agency in the largest government shakeup since the start of Russia’s invasion nearly five months ago. The move came as a Ukrainian military official warned that Russia is preparing for the next stage…

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The Guardian - UK

Letters: manufacturing is key to our future

The UK service sector is important, but we ignore our expertise in industries such as aerospace and pharmaceuticals at our peril

Asharq Al-Awsat

Saudi Arabia Calls on Iran to Cooperate with Regional Countries, US Says Won’t Leave Void to Be Filled by Others

Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, chaired on Saturday the Jeddah Security and Development Summit on behalf of Custodian of the Two Holy Mosques King Salman bin Abdulaziz. The summit was attended by leaders of the Gulf Cooperation Council (GCC) countries, as well as…

ABC News

COVID support payments must be balanced with debt, Victorian business lobby says

Victoria's peak business lobby group say the federal government must make sure pandemic payments don't cripple the economy more than outbreaks would.

The Guardian - UK

Andy Haldane: we can fix the cost of living crisis. But will we?

The Bank of England’s former chief economist has a clear idea of what caused the current inflation mess, but fears the UK lacks any clear plan for solving it

The Guardian - UK

Economics made simple: 10 experts on where the cost of living crisis came from, and where it’s heading

Rampant inflation, war in Ukraine, Brexit… we ask 10 experts to explain what the economic crisis means for Britain and how we should respond

Asharq Al-Awsat

Saudi Crown Prince Calls for Unified Efforts to Support Global Economy

Saudi Crown Prince Mohammed bin Salman, addressing an Arab-US summit, said on Saturday that unified efforts were required to support the global economy. COVID-19 and the geopolitical situation necessitated more joint efforts to support the global economy, he said, adding that the environmental challenges required a "realistic and responsible" approach…

Bangkok Post

Short-term outlook remains volatile, but stay the course

2022 has so far felt like a perfect storm for the global economy and financial markets. Changing monetary policy, decades-high inflation, the war in Ukraine and supply-chain disruptions, to name a few, have taken a toll on investor sentiment.

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