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The Latest Breaking News from Economy

UK economy to flatline in 2023 as cost of living crisis curbs spending , warns OECD

Inflation set to rise to levels “not seen since the Seventies.”

Evening Standard

There’s a simple way to fight the cost of living emergency: a £15 an hour minimum wage

Opponents say this will lead to a wage-price spiral – but that’s an argument that’s stuck in the 1970s, says Labour MP Nadia Whittome

The Guardian - UK

Amazon To Cease Gig Economy Delivery Service In Second Largest Market

Amazon.com Inc (NASDAQ: AMZN) looks to shut down its gig economy delivery service in Germany, its second-largest market after the U.S., for undisclosed reasons,

Benzinga

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read the most diverse news in one place.

Tories under pressure as report says UK economy will grind to a halt next year

THE UK economy will grind to a halt next year and will only be better than Russia’s among the G20, the OECD forecast on Wednesday.

The National (Scotland)

Analysis: Colombia's extractive industries watching election warily

Colombia's leftist firebrand presidential candidate Gustavo Petro is too close in recent polls for the comfort of oil companies and miners who worry that his promised policies would imperil Colombia's economy and energy self-sufficiency, high-ranking industry figures and business associations said.

Reuters

UK on brink of recession and will fall behind all major economies except Russia, OECD warns

Zero growth forecast for Britain next year and global average slashed to 2.8 per cent

The Independent UK

UK to be major economy worst hit by Ukraine war, says OECD

Thinktank forecasts UK growth to slow to standstill in 2023, as impact of conflict felt

The Guardian - UK

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'Extremely challenging' recruitment in hospitality and tourism is costing economy billions of pounds

Some pubs and restaurants closing an extra day, hotels closing some rooms and sometimes paring down dinner numbers

Birmingham Post

Wales Fast Growth 50: search on to find the fastest growing Welsh firms in 2022

Since being launched in 1999 firms on the annual lists of the fastest growing 50 firms in Wales have created additional revenues of £27bn

Birmingham Post

Why takeaway deliveries may not survive the cost of living crisis

Takeaway and ride-hailing apps boomed during the pandemic but are now under critical pressure

Wales Online

Residents' relief... and council's dismay: Reaction to HS2's 'Golborne Spur' being scrapped

“To say I have put hundreds of hours into this campaign would be an understatement."

Manchester Evening News

Irish night-time economy to get huge transformation as pilot programmes set to launch

Dancing could continue in nightclubs until as late as 6am and work is being done on a massive overhaul of the country’s antiquated drink laws

Dublin Live

Timeline for major Ireland nightlife overhaul with new after-dark events and nightclubs open to 6am

Nightlife in Ireland is set for a transformation in the coming months with the creation of a new nighttime economy that will see later openings and more cultural events into the night

Irish Mirror

Japan's economy contracts, but at smaller rate than thought

The government says Japan's economy contracted in the first quarter though at a slower rate than expected

The Independent UK

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Bangkok Post

Prayut urges steady interest rates

Prime Minister Prayut Chan-o-cha called on the central bank to maintain its policy interest rate on Tuesday to curb a capital flight and support the domestic economy.

ABC News

World Bank warns recession 'hard to avoid' and Ukraine war creating a 'perfect storm'

The World Bank is warning the war in Ukraine is combining with other risk factors to create a "perfect storm" and recession will be "hard to avoid".

Ballotpedia

Economy and Society: SEC’s disclosure proposal and the costs of compliance

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

The Independent UK

Yellen: inflation to 'remain high;' hopes it's 'coming down'

Treasury Secretary Janet Yellen has acknowledged that she and Federal Reserve Chair Jerome Powell “could have used a better word” than transitory when describing the expected run of inflation in the U.S. economy

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StockNews.com

Out of the Box Thinking for Today’s Market

I remember the end of March 2020, when the S&P 500 (SPY) started ripping higher, following a more than 35% decline over the previous few weeks. At the time, the consensus was that this was a bear market rally or an oversold bounce given the uncertainties involved. However, I remember…

The Hindu

‘BJP has pushed country’s economy back by decades’

Belagavi

StockNews.com

3 Top-Rated Israeli Stocks to Add to Your Watchlist

Amid the uncertainties surrounding the U.S. economy, we think it could be wise to invest in quality Israeli stocks to cash in on the country’s favorable macroeconomic trends. Shares of Israel-based companies Teva (TEVA), ZIM (ZIM), and NICE (NICE) could be solid additions to one’s portfolio, given their fundamental strength.…

The Conversation

Gig economy: ride-hailing and takeaway firms may not survive the cost of living crisis

They rose to great heights but have been falling back hard. The share prices of companies in the so-called gig economy have been performing abysmally, even compared to the woes of stock markets in general. This dates back some 18 months though it has intensified since last autumn.

The Independent UK

World Bank dims outlook for global economy amid Russia war

The World Bank has sharply downgraded its outlook for the global economy, pointing to Russia’s war against Ukraine, the prospect of widespread food shortages and concerns about the potential return of “stagflation” — a toxic mix of high inflation and sluggish growth unseen for more than four decades

The Guardian - UK

Return to the 70s: World Bank warns of weak growth and high inflation

Stagflation feared as global economy suffers fallout from Covid pandemic and Russian invasion of Ukraine

Bangkok Post

Prayut: Central bank agrees to keep policy rate steady

The Bank of Thailand (BoT) has told the finance ministry that it will keep its policy rate at the current level to support the economy, Prime Minister Prayut Chan-o-cha told reporters on Tuesday.

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