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The Latest Breaking News from Economy

Why Kevin O'Leary Says A New Digital Economy Is Emerging

Investor and "Shark Tank" star Kevin O'Leary says digital payment systems represent the biggest opportunity for the growth of cryptocurrencies. He says that the innovation in the digital currency will take us to a much more transparent, auditable, and less expensive way of processing payments around the world.

Benzinga

Charting the global economy: Central banks step up tightening

More central banks around the world are unleashing a greater amount of policy firepower as they seek to combat unrelenting inflationary pressures.

Bangkok Post

India showing exemplary resilience recovering from COVID-19 crisis: Chief Economic Adviser

India’s Chief Economic Adviser Anantha Nageswaran noted that all major activities and parameters of Indian economy have crossed their pre-COVID levels, and the country is now enjoying macroeconomic tailwinds

The Hindu

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Climate crisis is ‘battering our economy’ and driving inflation, new book says

Climatenomics lays out how ‘supply chain disruptions’ has become a euphemism for the effects of climate change

The Guardian - US

Women in business feted ahead of Apec summit

Women in business are demonstrating their strong will to develop companies and help Thailand drive its economy, a role high on the agenda at this year's Asia-Pacific Economic Cooperation (Apec) summit.

Bangkok Post

India is not the fastest growing big economy

A closer look at recent data on GDP shows that the numbers are flawed and recovery is incomplete

The Hindu

US inflation quickens to 40-year high, pressuring Fed and Joe Biden

US inflation accelerated to a fresh 40-year high in May, a sign that price pressures are becoming entrenched in the economy. That will likely push the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats.

The Times of India

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Familiar faces in presidential race promise new ways to fix Nigeria

Two political veterans in their 70s are vying to be Nigeria's next president, promising pro-business policies to revamp Africa's largest economy by fixing its oil sector and curbing widespread security threats.

Reuters

National rail strike could cost UK economy more than £90million, experts say

The Centre for Economics and Business Research estimated the planned rail and tube strikes will cause a hit of at least £91million to the UK economy, with London set to suffer the biggest output loss

Daily Mirror

Boris Johnson's Brexit has cost UK economy 'more than £30 billion', report says

The SNP have slammed the Tories' Brexit “obsession” as the economic impact of the UK’s withdrawal from the European Union has been…

The National (Scotland)

Three companies to be granted gold and diamond mine prospecting licences in Fermanagh and Tyrone

The Department for Economy has signalled its intention to grant the licences

Belfast Live

National average gas price on the cusp of crossing $5

It's unclear how Americans — and the economy — will react.

Axios

Brexit ‘largely to blame’ for £31bn loss to UK economy, study finds

5.2 per cent GDP shortfall ‘mostly’ down to Britain’s exit from EU, according to top think tank

The Independent UK

Biden just declared heat pumps and solar panels essential to national defense – here's why and the challenges ahead

Solar panels, heat pumps and hydrogen are all building blocks of a clean energy economy. But are they truly “essential to the national defense”?

The Conversation

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StockNews.com

Sideways Range with Little Change Awaiting CPI Report

The S&P 500 (SPY) has had a strong thrust higher from very oversold levels in late May, and we've enjoyed some nice gains. Since then, we've trended sideways in a relatively tight range. This makes sense as the CPI report is coming on Friday and is expected to reveal whether…

Reuters

Sri Lanka risks full-blown humanitarian emergency, UN agency says

Sri Lanka is at risk of tipping into a full-blown humanitarian crisis as the country's economy suffers its biggest shock in decades, the U.N. humanitarian office (OCHA) said on Friday.

Miami Herald

The Week Ahead: Another step toward the economy standing on its own

The Federal Reserve will be one step closer in the week ahead to ending its current cycle of raising interest rates.

The Guardian - UK

Boris Johnson wants tax cuts – but can he deliver them in time?

PM must act quickly as economy and household finances worsen, but Treasury is not sympathetic

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Tribune News Service

How the pandemic and the economy have turned the car market on its head

The lot at the new Hello Mazda of San Diego dealership in the city's Kearny Mesa neighborhood is a microcosm of all the unpredictable things that have upended the car market.

Tribune News Service

June Fed meeting preview: Brace for fastest rate hikes since 1994 to battle too-high inflation

Economists like to say interest rates take the elevator down and the staircase back up. The metaphor highlights just how swiftly the Federal Reserve slashes borrowing costs during economic crises — and how gradually the Fed lifts rates when the economy is healing.

Birmingham Post

Parkdean Resorts halts potential £1.6bn sale amid concerns for UK economy

The auction talks for the Newcastle holiday park operator were launched last year as UK staycations boomed

Radio France Internationale

Eurozone interest rates to rise for first time in a decade

The European Central Bank (ECB) will raise interest rates next month for the first time in 11 years in a bid to control soaring inflation, ending a stimulus scheme to support the economy during the Covid-19 pandemic.

Bangkok Post

Japan starts visa process for restart of tourism as Covid worries wane

HONG KONG: Japan on Friday resumed visa procedures to accept foreign tourists, taking the first step toward increasing inbound tourism to help turn around its economy as worries about the Covid-19 pandemic wane.

Benzinga

Fear Of Recession Is Creating A Recession: Apple Analyst Puts Out Theory

The economy has given enough reasons for investors to fret. With higher inflation and slower growth portending further trouble ahead, noted Apple, Inc. (NASDAQ: AAPL) analyst Gene Munster delved into how the economic picture will shape up in the near term.

The Hindu

‘Real estate may see huge investments’

Market experts have reacted to the RBI repo rate revision.

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