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The Latest Breaking News from Economy

China Locks Down City of 300,000 Over Single COVID Case

Hundreds of thousands of people were under lockdown in a small Chinese city Tuesday after just one case of Covid-19 was detected, as Beijing's strict no-tolerance virus strategy showed no sign of abating. China is the last major economy glued to a zero-Covid policy, crushing new outbreaks with snap lockdowns,…

Asharq Al-Awsat

500,000 more migrant workers needed for recovery: Chamber of Commerce

Thailand is short more than half a million migrant workers, the Thai Chamber of Commerce said on Tuesday, as the economy struggles with a slow post-pandemic recovery.

Bangkok Post

BoT: Tourist arrivals may rise to 8m

Foreign tourist arrivals could reach 8 million this year after recording higher numbers over the past few months, says the governor of the Bank of Thailand.

Bangkok Post

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Not just tax cuts needed to boost economy, says Tugendhat

The Tory leadership contender is to set out a 10-point plan to stimulate growth.

The Independent UK

For Fed, Easing Too Soon Risks Repeat of Stop-and-Go 1970s

Federal Reserve chairman Jerome Powell is raising interest rates at the fastest pace since the 1980s. That has been easy so far because rates are low and the economy has been strong.

Bangkok Post

Business sector gearing up for Apec CEO Summit

The Thai business sector is gearing up for the hosting of the Apec CEO Summit in Bangkok this year, expecting the meeting to lead to business insights post-pandemic and a boost in economic activity during the three-day summit in mid-November.

Bangkok Post

The Guardian view on the Uber files: a tech immorality tale

Editorial: Devastating leaked documents underline the pressing need for proper regulation of the digital economy

The Guardian - UK

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Fed's Bullard: Solid US economy can handle rising rates

St. Louis Federal Reserve president James Bullard says last week’s jobs report points to a solid U.S. economy with little sign of a recession on the horizon and one that can withstand higher interest rates

The Independent UK

France's Macron under fire over Uber contacts as minister

French President Emmanuel Macron came under pressure on Monday from opposition politicians over his reported links with ride-hailing company Uber Technologies during his years as economy minister.

Reuters

Around $2 Million Bet On This Stock? 4 Penny Stocks Insiders are Buying

The US economy added 372,000 payrolls in June, following a revised 384,000 growth in May. Investors, meanwhile, focused on some notable insider trades.

Benzinga

Biden tells demonstrators to ‘keep protesting’ as poll shows economy still trumps abortion

The president is considering declaring a public health emergency on abortion.

The Independent UK

Biden is trying to rebuild America’s middle class. Our lopsided economy needs it

The Republican promise is to cut taxes and regulation. But the numbers show just how badly that argument has failed

The Guardian - US

Macron under pressure to explain 'secret deals' with US taxi company Uber

Opposition deputies have called for an enquiry into French President Emmanuel Macron's past support for online transport giant Uber when he worked for a socialist government. This follows media revelations accusing the former economy minister of making "secret deals" to bend legislative rules.

Radio France Internationale

Petrol price hike, raising power tariffs: What Pakistan needs to do to obtain IMF loan

NEW DELHI: The economic crisis in Pakistan has posed severe challenges for the government as it grapples with high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency.

The Times of India

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France 24

Macron’s government survives no-confidence vote in parliament

French Prime Minister Élisabeth Borne survived her first no-confidence vote in parliament on Monday sponsored by the hard-left opposition. The vote came as President Emmanuel Macron was under pressure to explain allegations of his past support for taxi app Uber while he was economy minister.

Reuters

Analysis-Tax-cut talk in UK leadership race adds to inflation angst

Promises of tax cuts from candidates to succeed British Prime Minister Boris Johnson pose another inflationary risk which could pressure the Bank of England to raise interest rates more aggressively, cancelling out any potential boost to the economy.

Tribune News Service

Survey: 4 top tips to protect your portfolio against a recession

With stocks plummeting and interest rates rising, many investors expect a recession in the near future. So how can you prepare your portfolio for a possible downturn?

The Guardian - UK

China lockdown worries hit stocks; Uber and Twitter shares fall; Wizz Air to cut more flights – as it happened

Shares hit as China try to quell resurgent Covid-19 outbreaks, while shares in Twitter drop after Musk tries to cancel takeover, and Uber is hit by leak

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The Guardian - UK

Aslef boss Mick Whelan: ‘There’s no cost to the economy in running rail properly’

Head of train drivers’ union takes pride in calling very few strikes – but enough is enough, he says

The Guardian - UK

The Uber files tell a simple truth: democracy depends on curbing mercenary tech giants

These revelations reveal the political credulity and negligence surrounding the growing power of Silicon Valley, says Guardian columnist Rafael Behr

Birmingham Post

Welsh private sector continues to grow despite record price hikes shows latest NatWest research

Rate of growth has slowed attributed to rising costs across the private sector economy

Bangkok Post

SCB X weighs options for $1.5bn asset management unit

SCB X Plc is considering options including a sale of its asset management unit, people familiar with the matter said, amid growing industry consolidation in Southeast Asia’s second-largest economy.

Wales Online

Watchdog warns UK households will be £1,200 worse off in 2023

The Office for Budgetary Responsibility, which gives independent analysis of the UK’s public finances, says that many threats to the economy remain

Bangkok Post

Nature's healing power

The Covid-19 pandemic has impacted not only the physical health and economy of millions of people around the world but also has disrupted their mental health in a significant manner. As the world cautiously reopens to travel, Thailand has become a destination of choice for numerous tourists as travel restrictions…

Bangkok Post

KTAM keen on Vietnam stock market

Krungthai Asset Management (KTAM) recommends investing in the Vietnamese stock market, citing its high growth prospects supported by China's reopening and laggard prices.

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