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The Latest Breaking News from Economy

Centre is nudging Kerala towards a financial crisis, says State in Supreme Court

Kerala has filed a suit in the Supreme Court accusing the Centre of violating the federal structure of governance and causing “severe damage to the economy of a small State with meagre resources” by interfering with its finances. The suit said a State, in a federal system of governance, had…

The Hindu

UK economy shrank faster than expected in October, new data reveals

Economists warn ‘spectre’ of recession hanging over Britain, as GDP falls 0.3 per cent

The Independent UK

Recession fears return as figures show GDP slumped by 0.3% in October

Stormy weather partly to blame for surprise fall in output

Evening Standard

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UK economy shrinks unexpectedly as households feel squeeze

GDP fell by 0.3% in October as Bank of England prepares to keep interest rates on hold

The Guardian - UK

The Great Comeback Of The Greek Economy

Today, the Greek economy has rebounded to a new normal, contributing to the European stability. The country is witnessing healthy Gross Domestic Product (GDP) growth, while the Debt to GDP ratio is declining.

International Business Times

Traders lift bets on UK interest rate cuts in 2024 after economy shrinks in October – as it happened

Rachel Reeves warns that economic growth is going backwards after GDP shrinks by 0.3% in October, prompting City to predict 100bp of rate cuts in 2024

The Guardian - UK

Bank of Japan survey shows manufacturers optimistic about economy, as inflation abates

The Bank of Japan's quarterly survey on business sentiment shows large Japanese manufacturers have grown more optimistic in the past several months

The Independent UK

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Asian Markets Mixed After US Inflation Data As Fed Decision Looms

Markets were mixed Wednesday after an unremarkable US inflation report tempered expectations for an interest rate cut early next year, with attention moving to the Federal Reserve's policy statement later in the day.

International Business Times

China’s fears over the economy and its Gen Z 'lying flat' have it worried about social media posts with a bad attitude

Its internet censorship agency issued new rules to ban content that promotes “pessimism” about the country’s economy.

Fortune

War has left Gaza economy at almost total standstill, says World Bank

Washington-based development organisation providing $20m for citizens suffering ‘multidimensional poverty’

The Guardian - UK

Surprise: Wage growth has actually outpaced the crushing inflation over the past 2.5 years, according to the JEC Democrats

National average wages and salaries grew by nearly $15,000 from January 2021 to October 2023, according to the JEC Democrats.

Fortune

Palestinian Economy Severely Impacted By Israel-Hamas War: World Bank

The Israel-Hamas war in Gaza is having a severe impact on the Palestinian economy, according to the World Bank, which now estimates sharp economic contraction this year and next.

International Business Times

Argentine Government To Unveil Measures To Avoid 'Hyperinflation'

President Javier Milei's new government will on Tuesday unveil a set of emergency measures to avoid "hyperinflation" that are expected to deliver a shock to the country's ailing economy.

International Business Times

Myanmar's economy is deteriorating as its civil conflict intensifies, World Bank report says

The World Bank says Myanmar’s economy is forecast to grow only 1% in the fiscal year that ends in March

The Independent UK

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The Independent UK

Chinese leaders consider next steps for economy as debt and deflation cloud outlook for coming year

State media say Chinese leaders have wrapped up a two-day annual meeting to set economic priorities for the coming year

Evening Standard

Andrew Bailey is wrong. The Bank of England must cut interest rates now

City Voices: If the Bank wants to avoid a long and damaging recession then it needs to act fast

Fortune

'Cold War II' could wipe trillions from global economy, IMF says

The group says $7 trillion worth of GDP could be lost to a new Cold War, undoing progress since the fall of the Soviet Union.

International Business Times UK

Low-Cost Airline In UK Announces New Rules, No Free Hand Luggage For Passengers

The airline revealed its new rule on its Facebook page.

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Bored Panda

50 Painful Examples Of People Getting Absolutely Ripped Off

It’s all dandy when the commodity is worth the price you paid, but when the high price point doesn’t match up with what you’ve been promised, it can be infuriating, to say the least. The post 50 Painful Examples Of People Getting Absolutely Ripped Off first appeared on Bored Panda.

International Business Times

Fed December Meeting: Another Pause Before The Pivot?

CME's FedWatch Tool points to a 98.4% probability of FOMC setting the FFR target at the current range this week, down from 97.1% a week ago and 90.9% a month ago.

Al Jazeera

Malaysia’s Anwar Ibrahim revamps cabinet as voters worry about economy

Anwar promises to focus on economy, education and health as he splits up ministries and creates new posts.

The Independent UK

US inflation likely cooled again last month as Fed prepares to assess interest rates

This year’s steady slowdown in U.S. inflation likely continued in November, though the latest data may also point to sharply higher prices in some areas of the economy

International Business Times

Rising Egg Prices Show Cracks In Sanctions-hit Russian Economy

Russians have voiced concern about the growing cost of a basic food staple -- eggs -- pointing to the fragile state of the sanctions-hit economy, as President Vladimir Putin seeks a fifth term in office.

The Guardian - UK

World economy on brink of ‘cold war two’, IMF official warns

Gita Gopinath says global economy’s fragmentation into power blocs risks wipeout of trillions of dollars in GDP

TechRadar

How innovation in design and packaging can drive sustainability

Business leaders must pay attention to their products, from their design to their packaging.

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