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The Latest Breaking News from Economy

Qld budget 'back in black', taxes to rise

Queensland Treasurer Cameron Dick will hike taxes on big businesses, gambling companies and coal miners to fund more hospital beds and mental health programs.

AAP

Recession not on horizon, says RBA's Lowe

Reserve Bank governor Philip Lowe says a recession in Australia is not on his horizon, but after the past two years nothing can ever be ruled out.

AAP

Airline industry predicts profit in 2023, defying slowdown

The airline industry will return to profit next year as pent-up demand for travel sustains bookings even as the global economy tightens, the International Air Transport Association trade group predicted.

Tribune News Service

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5 Dividend Aristocrats To Buy Now

Last week, the Fed raised its benchmark interest rates three-quarters of a percentage point, marking the most aggressive hike since 1994. And with analysts predicting the economy to slip into a recession, we think dividend aristocrats Abbott (ABT), AbbVie (ABBV), Genuine Parts (GPC), Johnson & Johnson (JNJ), and Sysco (SYY)…

StockNews.com

Is there any way of escaping recession? Three top economic minds have their say

The labour market is going to be key to how the UK economy performs in the coming months

Wales Online

Why care home staff in the UK are at breaking point

Since the post-COVID reopening of the economy, staffing shortages in the care sector in England have been of increasing concern. In October 2021, British charity Skills for Care warned that, at 8.2%, adult social care vacancy rates in England were exceeding pre-pandemic levels (which in 2019, stood at 8%). That…

The Conversation

India faces near-term challenges; better placed to deal with them: Finance ministry report

NEW DELHI: India is facing near-term challenges in managing its fiscal deficit, sustaining economic growth, reining in inflation and containing the current account deficit but the country is relatively better placed to weather these headwinds compared to other nations, the finance ministry said in its monthly economic report.

The Times of India

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Sunderland council gives Gentoo the green light for 110 new affordable homes in Fulwell

It is expected that the development will create around 143 jobs during the construction phase and generate over £18m of gross value to the city’s economy

Chronicle Live

As midterm elections loom, chances of victory hinge on health of economy

PITTSBURGH — With inflation the highest it's been since the early 1980s and Americans feeling the pain of a downtrodden economy, Democrats in Pennsylvania — a state with two of the most high-profile races in the country — are hoping to convince voters that they should be an exception to…

Tribune News Service

Market sell-off a 'real downturn' and risk of global recession close to 50-50, analyst warns

The Australian share market has dropped by more than 15 per cent from its record high, sliding closer towards a bear market. Some investors may be tempted to "buy the dip", but analysts say there is "further downside" ahead.

ABC News

ASX falls after biggest weekly loss since 2020 on interest rate, energy stocks offset gains in banks

Australian shares have struggled for momentum on Monday after falling to their worst week in more than two years as energy and mining stocks countered gains in banks.

ABC News

Banks give ESG the okay

Banks are continuing to incorporate environmental, social and governance (ESG) factors into their business operations in a push for a sustainable transformation of the economy.

Bangkok Post

Yellen says high inflation locked in for the rest of 2022

WASHINGTON — Treasury Secretary Janet Yellen said that “unacceptably high” prices are likely to stick with consumers through 2022, and that the U.S. economy is likely to slow down.

Tribune News Service

Yellen says US recession not ‘inevitable’ but expects ‘economy to slow’

Treasury secretary says ‘inflation unacceptably high’ and it is Biden’s ‘top priority to bring it down’

The Guardian - US

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The Independent UK

Yellen: Recession not inevitable, gas tax holiday weighed

Treasury Secretary Janet Yellen says she expects the U.S. economy to slow in the months ahead, but that a recession is not inevitable

The Guardian - UK

UK government needs long-term plan for higher wages, not a fight with workers

While Boris Johnson plays politics, Britain’s public sector is fraying at the seams

The Independent UK

Germany to limit use of gas for electricity production

Germany’s economy minister says the country will limit the use of gas for electricity production amid concerns about possible shortages caused by a reduction in supplies from Russia

Bangkok Post

Subtle diplomatic dance

Last week's visit to the kingdom by US Defense Secretary Lloyd Austin was seen as underscoring Washington's recognition of Thailand as a significant player in the region's security.

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The Guardian - UK

Who needs ethics advisers when your one aim is to keep your party in power?

If the government has its way, there will be no independent checks on its activities

The Guardian - UK

We face a global economic crisis. And no one knows what to do about it

Central banks rode to the rescue of nervous investors for years. But now they are raising rates just as the world economy spirals downwards

The Hindu

Odisha at cusp of economic revolution: PwC India head

FICCI Odisha State Council chairperson Ranjan Naik said the State was transitioning from an economy of iron ore to steel, and coal, bauxite to aluminium with a host of value-added products.

Liverpool Echo

Cruise liners queueing up to visit Liverpool as industry emerges from pandemic

The industry is entering its busiest season - and visitors bring millions to the city's economy

Nottingham Post

Nottingham Forest stadium expansion would boost local economy says business expert

The club posted an update to say they hope a stand will be expanded soon

Bangkok Post

Firms cheer easing of tourism rules

After more than two years of severe hardships brought about by Covid-19 outbreaks, tourism-related businesses are seeing a glimpse of hope after the government agreed on Friday to abandon the pre-registration process for foreign visitors and the requirement for face masks to be worn in public.

The Times of India

Each state must define a target to make India $5 trillion economy: PM Modi

NEW DELHI: Each state must recognise its strength and define a target as this is crucial for India to become a $5 trillion economy, Prime Minister Narendra Modi said on Friday.

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