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The Latest Breaking News from Economy

China's economic recovery is built on increasingly shaky foundations and that could affect the whole world

Confidence in China’s post-COVID recovery has started to waver over the past week after the world’s second-largest economy reported disappointing figures for two of the major drivers of its economy: property and exports.

The Conversation

Chinese Premier and German Chancellor Agree on Supply Chain Stability

Li Qiang and Olaf Scholz will expand cooperation on trade, investment, auto manufacturing, advanced technology, new energy and the digital economy, a foreign ministry statement said

Caixin Global

Auditors savage ‘not effective’ work in Treasury black economy crackdown

The Australian National Audit Office found the seven recommendations Treasury is solely responsible for haven’t been fully implemented.

The New Daily

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China's economy may have slipped into a "liquidity trap"

It's a state that's difficult to shake off.

Axios

You might lose your millennial and Gen Z employees in coming months—here's why

A recent survey from PwC finds employees are looking for new opportunities despite the precarious economy.

Fortune

Slater unable to say if SNIB cash given to DRS administrator will be returned

National investment bank chair admits that the whole £9m investment could be lost as a result of Circularity Scotland going bust

Insider UK

What the Reddit Revolt Means for Social Media in an AI Era

The blackout reflects the deep tensions threatening the internet economy.

Businessweek

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Stock market today: Asian shares mostly lower, tracking Wall Street retreat

Shares are mostly lower in Asia after Wall Street benchmarks retreated following the S&P 500's rise to its highest level since the spring of last year

The Independent UK

Commentary: The debt ceiling deal was not perfect, but it was far better than a default

I was one of 165 Democrats to vote yes for the Fiscal Responsibility Act, which ultimately passed the House earlier this month in an overwhelmingly bipartisan 314-117 vote. Raising the debt ceiling saved the U.S. economy from potential catastrophe. Democrats faced a Hobson’s choice or the illusion that multiple choices…

Chicago Tribune

Green hydrogen could be a game changer by displacing fossil fuels – we just need the price to come down

As the global economy moves away from fossil fuels, green hydrogen could be critical to achieving a zero-carbon world by 2050.

The Conversation

World Expo 2030 sees battling bids from cities in Saudi Arabia, Italy, South Korea

Cities in Saudi Arabia, Italy and South Korea are vying for the chance to host the 2030 World Expo, or world's fair

The Independent UK

This magazine's pro-Union attack on Scotland's economy was wrong - here's why

I LIVED in Chester until the age of six and when I told my young friends I was moving back to Scotland they actually asked if me if I would be…

The National (Scotland)

Martin Lewis says mortgage timebomb has 'exploded' and says Tories were warned

Moneysavingexpert.com founder Martin Lewis said he warned Jeremy Hunt about the threat from rising mortgage rates at a summit in December

Daily Mirror

Intel To Invest $25 Billion In Israel Chip Plant

Tech giant to build third factory in Kiryat Gat, boosting Israeli economy and exports.

Zenger

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Daily Record

Plane passenger refuses to let woman recline her seat as his 'legs are too long'

A man took to Reddit, a popular online social media forum, to ask advice on whether he had done the right thing during a row on a flight.

Tribune News Service

Powell faces tricky task of explaining rate pause in Congress

Federal Reserve Chair Jerome Powell will have an opportunity this week to clarify what many found a confusing message on the path of interest rates, with the added task of assuring Democrats and Republicans the economy is on track.

The National (Scotland)

Lorna Slater issues statement as no confidence vote confirmed

CIRCULAR economy minister Lorna Slater has issued a statement dismissing a Tory vote of no confidence against her as "a shameless political…

Birmingham Post

The Welsh business leaders recognised in the King’s Birthday Honours List 2023

A number of influential business figures from Wales have been honoured

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The New Daily

‘Per capita recession’: Banks forecast longer downturn as more interest rate rises loom

Australia facing a multi-year per capita recession and even a quarter of negative economic growth in early 2024 with higher interest rates.

Daily Mirror

Families hit by 'Tory mortgage penalty' as rates soar - see how your area is affected

Shadow Chancellor Rachel Reeves said households across the country are paying the price for the government 'trashing the economy' as she highlighted how families have been hit by crippling mortgage hikes

Daily Mirror

'My fiancé got first-class plane seats for his kids and put mine in economy'

A woman has been urged to leave her relationship for good after her fiancé bought his children first-class plane seats while hers were expected to sit on their own in economy

The Conversation

Nigeria's new foreign exchange policy is good news - but it can't work wonders for the economy on its own

The Central Bank of Nigeria recently announced changes to the way the country’s foreign exchange market will work. Foreign currencies can now be bought and sold at rates determined by the market – not by the central bank.

Barchart

Stocks Set to Open Lower as Investors Await Powell Testimony, China’s Rate Cut Disappoints

September S&P 500 futures (ESU23) are down -0.48%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.53% this morning as concerns over the Chinese economy weighed on risk appetite, while investors looked ahead to testimony from Federal Reserve Chair Jerome Powell for more cues on the U.S. central bank’s…

Birmingham Post

Sage urges Government to ramp up moves to a digital economy

The Tyneside software giant has set out its Blueprint for Digital-led Growth to help strengthen the UK Economy

The Guardian - AU

NSW budget faces ‘severe challenges’ as economy slows and interest rate repayments soar

Nevertheless, Labor has confirmed it is deferring a decision on an increase to the sales tax on the Star casino group

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