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The Latest Breaking News from Economy

What new president Bola Tinubu means for Nigeria

Bola Ahmed Tinubu has been sworn in as Nigeria’s 16th president, having been tasked with reviving Africa’s largest economy, healing ethnic and religious divisions and tackling security issues.

The Week

Stock market today: Asian shares mostly rise after House approves debt ceiling deal

Asian benchmarks are trading mostly higher after the United States House approved a debt ceiling and budget cuts package, avoiding a default crisis

The Independent UK

Sri Lanka reduces interest rates for 1st time since bankruptcy as economy shows signs of rebounding

Sri Lanka’s Central Bank has reduced its interest rates for the first time since the island nation declared bankruptcy last year

The Independent UK

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Brexit, the environment, energy bills … it’s hard to tell Labour and Tory policies apart

Cross-party consensus was once called Butskellism. What do we call it when even Rachel Reeves and Jeremy Hunt agree? says Guardian economics editor Larry Elliott

The Guardian - UK

Fax machines and cash-only stores: Japan struggles to go digital

Japan’s economy is, in many ways, stuck in the past despite the country’s futuristic image abroad.

Al Jazeera

For new frontiers, China is drilling 10,000-m deep into Earth's crust

BEIJING: Chinese scientists have begun drilling a 10,000-metre (32,808 feet) hole into the Earth's crust, as the world's second largest economy explores new frontiers above and below the planet's surface.

The Times of India

Saha Group averse to hike in daily wage

Saha Group, the country's leading consumer product conglomerate, suggests the new government emphasise promoting the agricultural sector rather than a sharp increase in the daily minimum wage, as this approach would help sustainably develop the country's economy.

Bangkok Post

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Getting ready for a new economic era

Admittedly, I did not vote for Move Forward Party (MFP). I did like the idea of pro-democracy, equality for all, people-centric policies, and de-monopolisation, all of which they espouse.

Bangkok Post

AIS introduces online tool for SMEs

Advanced Info Service (AIS) has launched the business-to-business-to-customer (B2B2C) e-marketplace Yellow (www.yellow.co.th) as a new tool to foster the Thai small and medium-sized enterprise (SME) economy.

Bangkok Post

Investors fret as Chinese factories decelerate

Economists are concerned about a weakening Chinese economy, saying the mainland's shaky recovery from the pandemic has pressured regional stock markets and the Thai economy.

Bangkok Post

Jamie Dimon says the Fed should pause rate hikes, but also warns it’s a new era for the economy

Even as the Fed brightens on inflation, Dimon says to brace for more “volatility” ahead.

Fortune

The Guardian view on food price caps: better at taming inflation than rate hikes

Editorial: When the economy doesn’t work in the way that theory suggests, it’s time to junk the theory

The Guardian - UK

NZ's beef with critical US debt ceiling debate

Exporters are nervously watching a key vote in the US Congress that will determine whether the world's biggest economy defaults on its debts. Jonathan Milne reports.

Newsroom.co.nz

How to hone your leadership skills, and what your company can do to help

The UK labour market has finally started to see a fall in vacancies following a post-COVID spike in open positions. But there are still more than a million job vacancies, which are “damaging the economy by preventing firms from fulfilling order books and taking on new work”, according to the…

The Conversation

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Evening Standard

Unexpected spike in London house sales as homemovers defy rising interest rates and a stagnant economy

London property sales were 10 per cent above average for May despite soaring interest rates, falling demand and pressure on prices

Al Jazeera

India’s economy picks up speed amid global slowdown

With 6.1% growth, India remains one of the fastest growing emerging economies, especially as China’s recovery stumbles.

The Independent UK

German inflation slows to 6.1% in May, though food prices are still surging

German inflation eased to 6.1% in May following several months of declines, even as Europe’s biggest economy registered another painful increase in food prices of nearly 15%

Fortune

I got rich in Russia and got out in time, twice. Here’s what I learned about democracy and free markets

Most totalitarian regimes never prosper for more than a generation or two. The parasitic behaviors of such governments eventually drain the economy.

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Insider UK

Scottish GDP growth outperforms UK in first three months of 2023

The country’s economic output grew by 0.4% during the first quarter – compared to 0.1% for the UK

The National (Scotland)

Scottish economy grows four times faster than UK's in latest figures

SCOTLAND’s economy grew by 0.4 per cent between January and March, outpacing UK economic growth of 0.1 per cent.

Reuters

Exclusive-Turkey's new cabinet almost certain to include Simsek - sources

Turkish President Tayyip Erdogan is viewed as almost certain to include former economy chief Mehmet Simsek in his new cabinet, either as finance minister or as a vice president responsible for the economy, four senior officials said.

The Independent UK

Ministers to re-evaluate deposit return after glass ban ‘sabotage’ – Slater

The Scottish circular economy minister hit out once again at the UK Government’s decision that DRS must only include tin and plastic.

Bangkok Post

Markets tumble as Republicans threaten US debt deal

HONG KONG: Asian markets sank on Wednesday on worries that hardline Republicans could vote down a crucial bill to hike the US borrowing limit and risk a catastrophic default that could hammer an already fragile global economy.

Businessweek

Republicans Hail Big Spending Cuts That Economists Say Will Have Little Impact on the Economy

Analysts taking the measure of the debt-ceiling pact call it modest.

The Guardian - UK

Mild recession forecast in UK, as trade deals with Australia and New Zealand worry farmers – as it happened

Higher borrowing costs and tighter lending will slow global growth sharply this year, Moody’s warns

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