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The Latest Breaking News from Economy

China lowers minimum amount for tax refunds for tourists to boost spending

China has lowered the minimum amount tourists spend to get tax refunds as part of measures to boost consumption as its economy comes under pressure during a trade war between Beijing and Washington

The Independent UK

Americans, including Republicans, losing faith in Trump, new polls reveal

Trump scores poorly on economy and immigration as some fear he is ‘exceeding powers’ and focussed on wrong issues

The Guardian - US

Turkey's youth rise up over mayor's jailing and worsening economy

Thousands of young people across Turkey are protesting against the jailing of Istanbul mayor Ekrem Imamoglu, President Recep Tayyip Erdogan’s main rival. Many say they no longer fear prison, claiming they have nothing left to lose.

Radio France Internationale

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California Overtakes Japan to Become World's Fourth-Largest Economy — But Challenges Loom

California has officially surpassed Japan to become the world's fourth largest economy, driven by tech innovation, business growth, and record tourism figures.

International Business Times UK

Bears Can Reap Big Benefits With These 3 Short ETF Bets

Inverse ETFs are an effective way for bearish investors to capitalize on downturns in specific portions of the market, or in the economy more broadly.

MarketBeat

Consumers are so stressed by the economy they're doing less laundry to save on detergent

The maker of America’s best-selling detergent says the company is seeing fewer loads per week.

Fortune

Can America Get Out of the Gerontocracy Trap?

If voters so overwhelmingly prefer younger candidates, why are they underrepresented in politics?

Reason

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Passive investing goes Hollywood

The premise of "Tune Out the Noise" might not work as well in today's economy, analysts say

Salon

Rachel Reeves Blasted for Dragging UK Into Trump Trade Chaos With Tax Raid

Chancellor Slammed for UK Economy Woes as IMF and Tories Say Stop Blaming Trump

The Fashion Central

Giorgia Meloni faces awkward weekend at funeral of pope whose values she opposed

Italian PM and pontiff could not have been further apart on issues such as migration, climate crisis and economy

The Guardian - UK

Trump Tariff Promises Get A Reality Check

A gathering of global economic leaders in Washington wraps up Saturday with tariff talks between the United States and partners still unresolved -- and anxiety building over the state of the global economy.

International Business Times

US consumer sentiment sees largest drop since 1990 after Trump tariff chaos

Experts warn of slowing economy after score based on Americans’ financial outlooks fell by 32% since January

The Guardian - US

As the Economy Tumbles, so Does Trump's Approval Rate

There isn't much public enthusiasm for the president's chaotic style.

Reason

Trade links across the Atlantic will survive the tariff storms

But a more innovative, business-friendly attitude would not go amiss in the UK

Evening Standard

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Barchart

Warren Buffett 'Doesn't Mind Paying Taxes' But Says 'Everybody I Know’ Is Worried About ‘Not Paying Taxes'

At the 2024 Berkshire Hathaway shareholders meeting, Warren Buffett reaffirmed his long-term, principled approach to investing by emphasizing that taxes are not a burden to avoid but a necessary contribution to a functioning economy.

International Business Times

Russia Holds Key Rate At Two-decade High Despite Slowdown Fears

Russia's central bank kept borrowing costs at a two-decade high of 21 percent on Friday to combat rampant inflation, despite banks and businesses warning the economy was headed for a slowdown.

MarketBeat

3 Stocks Presenting Generational Buying Opportunities

Investors can hold onto Chevron, UPS, and The Campbell’s Company to collect solid dividends today and strong growth in a recovering economy

Al Jazeera

China pledges support for economy, dismisses US claims on tariff talks

Beijing dismisses President Donald Trump’s claims of being engaged in tariff negotiations.

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International Business Times

China's Top Leaders Pledge Economic Support As Trade War Rages

China's top leaders pledged on Friday to step up support for the economy and oppose "unilateral bullying" in global trade in a veiled rebuke of hefty tariffs imposed by US President Donald Trump.

The Independent UK

California overtakes Japan as the world’s fourth largest economy

Governor Gavin Newsom relished in his state’s economic prowess but lambasted President Trump’s ‘reckless tariff policies’

The Guardian - UK

Xi announces plan for Chinese economy to counter impact of US trade war

Beijing will ‘strengthen bottom-line thinking’ as reports say it could drop tariffs on some US products

The Conversation

AI policies in Africa: lessons from Ghana and Rwanda

Artificial intelligence (AI) is increasing productivity and pushing the boundaries of what’s possible. It powers self-driving cars, social media feeds, fraud detection and medical diagnoses. Touted as a game changer, it is projected to add nearly US$15.7 trillion to the global economy by the end of the decade.

Evening Standard

Consumer confidence slides amid household bill hikes and ‘Trump Tariffs’

GfK’s long-running Consumer Confidence Index fell four points in April to minus 23, led by an eight-point fall in expectations for the wider economy.

The Guardian - US

California’s economy surpasses Japan’s as it becomes fourth largest in world

State’s nominal GDP reaches $4.1tn, edging out Japan’s $4.02tn, ranking it behind the US, China and Germany

International Business Times

EU Still Far From Tariff Deal With US: French Minister

The European Union and United States are far from reaching a deal on tariffs, France's economy minister said Thursday, as the bloc seeks a way out from trade tensions with Washington.

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