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The Latest Breaking News from Economy

How Higher Rates Could Continue to Negatively Impact the Market

Last week, we noted that the S&P 500 (SPY) was "leaking" lower, but there were still some pockets of strength. Well this past week, those pockets of strength also got crushed. The bull case has been that the economy would be strong enough to withstand the negative effect of higher…

StockNews.com

Federal election: Labor rubbishes Morrison's claims of a 'sneaky carbon tax' as scare campaign

Scott Morrison has said Labor's net zero plan is an attempt to revive the carbon tax. In response, Labor campaign spokesman Jason Clare said this was a sign the Liberal Party was getting desperate.

ABC News

Tisco sounds recession alarm on Fed interest rate hikes

The Federal Reserve could raise interest rates to 3.5% by the middle of next year to curb spiralling inflation, tipping the world economy into a recession, according to the Economic Strategy Unit of Tisco Financial Group (Tisco ESU).

Bangkok Post

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Low-Income Consumers Growing Increasingly Optimistic, But Sentiment Among The Wealthy Tumbles

U.S. economic growth is strong, and the economy and labor market are finally back to firing on all cylinders following the COVID-19 pandemic.

Benzinga

Amid coal crisis, power plants meet record 201 GW demand

NEW DELHI: India’s power plants met maximum demand of over 201 GW (gigawatts) at 2.51 pm on Tuesday, beating the previous record of over 200 GW clocked on July 7 last year, as the economy began firing on all cylinders and a raging heatwave further fuelled consumption.

The Times of India

North East aiming to attract more cruise ships to boost economy

Port of Tyne, Newcastle International Airport and the NewcastleGateshead Initiative are working together on the Cruise North East England project

Birmingham Post

Hopes of permanent extra bank holiday dampened by No 10

Cost to economy invoked in response to widely backed campaign to make day more than just a jubilee one-off

The Guardian - UK

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Permanent bank holiday to honour Queen 'highly unlikely', Downing Street says

It is unlikely we will get an extra bank holiday every year as it would cost the economy too much money

Manchester Evening News

‘I lost everything’: Somaliland market fire upturns life, economy

Residents and traders say the market in Hargeisa was an entire financial district and pivotal to Somaliland’s economy.

Al Jazeera

Biden Administration Reverses Trump's Effort To Open More Land For Oil Drilling In Arctic: CNBC

The Biden administration reversed a Trump administration plan that allowed the government to lease more than two-thirds of the country’s largest swath of public land to oil and gas drilling, writes CNBC. The Bureau of Land Management’s decision will shrink the amount of land available for lease in the National Petroleum Reserve in…

Benzinga

Lincoln Education is Our Featured Stock of the Week

The tight labor market is making it clear that we are facing a severe shortage of workers in key industries. Today's featured stock of the week, Lincoln Education (LINC) offers vocational training that can help the economy train workers for these new roles.

StockNews.com

Prof Sam McConkey says Ireland has done 'exceptionally well' with Covid despite death toll rising above 7,000

Prof McConkey also said that Ireland's economy also managed to withstand the pandemic better than other countries

Irish Mirror

Thailand Roadshow to Japan Reinforces Commitment to Partnership and Future Investments in EV, BCG and Electronics

Mr. Supattanapong Punmeechaow, Thailand’s Deputy Prime Minister, said that the investment promotion roadshow he recently led to Japan has reinforced a joint commitment to deepen bilateral cooperation and develop a co-creation partnership to lead future investments in electric vehicles (EV), smart electronics and green technologies in particular, that will drive…

Bangkok Post

Expo 2020 Dubai Awards $1.8 Bln in Contracts to SMEs

Expo 2020 Dubai awarded AED 6.8 billion (around $1.8 billion) of contracts to small and medium-sized enterprises (SMEs), providing a significant contribution to a vital sector of Dubai’s vibrant economy and exceeding a commitment made in 2016 to award at least 20% of all direct and indirect spend to SMEs.…

Asharq Al-Awsat

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Asharq Al-Awsat

Individual Investors Doubled in Saudi Financial Markets

Recent official data revealed that over 4.7 million subscribers per capita are active in the proposals of financial markets in Saudi Arabia, according to the 2021 annual report of the Saudi Capital Market Authority (CMA). The annual report stated that the number of individual investors in IPOs jumped 4.7 times,…

The Independent UK

Asian shares advance on back of rally on Wall Street

Asian shares are mostly higher after U.S. stocks stormed back from sharp losses to log strong gains

Newcastle Herald

AGL and NuRock tap into the potential of coal ash recycling

Coal ash is possibly the largest pollution legacy of coal-fired power production in the Hunter yet remarkably it receives relatively little attention in discussions about the region's transition to a clean energy economy.

Bangkok Post

Calls for over-the-top video industry to be self-regulating

Over-the-top (OTT) businesses should be self-regulating to ensure operational flexibility and enhance the business environment, which would be a boon for the labour market and the economy, according to a seminar held by Asia Internet Coalition, an industry association that gathers leading Asia-Pacific internet companies.

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Liverpool Echo

Liverpool City Region hopes to generate billions as country's ‘innovation engine’

Unveiled by Metro Mayor Steve Rotheram, the plan aims to showcase and attract investment for projects that could deliver £40bn for the region’s economy

Bangkok Post

'Time for economic pivot,' says Arkhom

Thailand should focus on reviving the economy ahead of injecting money into Covid-19 relief programmes, Finance Minister Arkhom Termpittayapaisith said on Monday, in a move perceived to signal a scaling down of financial aid for victims of the pandemic.

Tribune News Service

There's a lot of talk about recession. What should you believe?

In spring two years ago, the coronavirus pandemic threw the U.S. economy into recession. Last spring, the proliferation of vaccines swung it into a rapid expansion.

Bangkok Post

Japan pushes new diplomatic profile

During Golden Week, around the first week of May, Japanese politicians will usually spend time at home with their constituencies and families. Not the prime minister of Japan, Fumio Kishida, however. He knows full well that as the world's third-largest economy, Japan's wider diplomatic and security profile in the era…

Tribune News Service

Will the Fed cause a recession by raising rates? Here’s what experts are saying

High inflation comes with a heavy economic price, but so can the Federal Reserve’s attempts to get it under control.

Al Jazeera

Zimbabwean youths find cheap highs in used diapers, sanitary pads

Experts say the prevalent drug abuse highlights a lack of social nets as Zimbabwe’s economy continues to tank.

Tribune News Service

Xi puts ideology before economy with market-busting lockdowns

China’s worst equity selloff since early 2020 reflects a growing concern about President Xi Jinping: He can’t afford the political costs of shifting from a COVID Zero strategy that is pummeling the economy.

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Arkhom Termpittayapaisith

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