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The Latest Breaking News from Economy

UK on track to be worst-performing G7 economy this year despite IMF upgrade

The UK’s economy will shrink by 0.3% and grow by 1% next year, the IMF said on Tuesday.

The Independent UK

IMF: Prolonged high inflation dims outlook for world economy

The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks

The Independent UK

UK economy forecast to shrink by 0.3% this year, says IMF

IMF says euro area and UK – one of only two G7 countries forecast to contract in 2023 – especially hit by energy costs and inflation

The Guardian - UK

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First look: Yellen's cautious optimism on the economy

The Treasury secretary's glass-half-full outlook isn't shared by IMF chief.

Axios

Blending hydrogen into gas heating ‘could add almost £200’ to UK bills

Campaigners say potential energy plan would leave consumers bearing cost of building hydrogen economy

The Guardian - UK

Labour attack Rishi Sunak over wife's tax loophole in blistering new advert

Labour plans to focus its attention on Mr Sunak's economic policies having been criticised over a series of ads on Tory failures tackling crime, with Keir Starmer branding the PM the "chief architect" of the UK's economic woes

Daily Mirror

Asian shares mostly higher after mixed day on Wall Street

Stocks are mostly higher in Asia after a mixed session on Wall Street

The Independent UK

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G20 finance heads face reform calls from Global South

Finance ministers and central bank governors are meeting at the IMF to discuss challenges facing global economy.

Al Jazeera

3 signs the labor market is rebalancing in a way that could prevent a recession, according to Goldman Sachs

Goldman’s David Mericle sees “encouraging news about the prospects for achieving the gentle rebalancing of the labor market needed for a soft landing.”

Fortune

Labour to take aim at Sunak’s leadership on cost of living crisis

Party will continue to single out PM, after campaign ad last week that led to accusations of ‘dog-whistle’ politics

The Guardian - UK

'Downside risks' for Asean+3

Soaring energy prices and a stalling US economy have emerged as potential downside risks that could dampen growth in Asean+3 economies, according to the Singapore-based Asean+3 Macroeconomic Research Office (Amro).

Bangkok Post

How Argentina went from one of the world's richest nations to 100 per cent inflation, with 'mountains of money worth nothing'

Argentina's economy hit 100 per cent inflation in February — the highest it's been in 32 years. But the crisis has done nothing to dampen Argentines' enthusiasm for spending.

ABC News

Striking at the heart of Hollywood

As contract negotiations have continued, leaders of the Writers Guild of America have asked their members to give them authority to call a strike should they fail to reach an agreement on a new contract with studios by May 1. While a strike is not assured, many in Hollywood say…

Los Angeles Times

Cameroon aims to boost export revenues, rejoin AGOA - minister

Cameroon is working to boost export revenues to fend off a potential debt crisis and has relaunched talks with the U.S. to rejoin Washington's flagship trade initiative with Africa, its economy minister said on Monday.

Reuters

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The Guardian - UK

Climate emergency is the biggest health crisis of our time – bigger than Covid

As toll on public health and global economy rises, radical action is needed on greenhouse gas emissions

The Guardian - UK

Is the Ukraine war boosting or damaging the Russian economy?

IMF suggests invasion spending is pushing up GDP but academics argue non-military economy is foundering

Caixin Global

Editorial: How to Reverse the Decline in Foreign Investment in China

Holding to the principles of reform could help break a deadlock in a landmark EU investment pact that is vital to reversing the recent decline in FDI

The Conversation

Mental health plays a big role in advancing the economy - we need a measure beyond GDP

Indonesia is performing comparatively well in its economic growth amid the current global economic slowdown.

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news in one place.

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The Independent UK

Predicted 0.08% boost from UK-Asia trade deal could be overestimate

Trade department used different approach to estimating economic boost which ‘generates larger estimated GDP impacts’

The Independent UK

As India’s population soars above all, fewer women have jobs

India will soon eclipse China to become the world's most populous country, and its economy is among the fastest-growing

Bangkok Post

Economy expected to grow 3.6% this year - central bank

Thailand's economy is expected to grow 3.6% this year, Bank of Thailand (BoT) governor Sethaput Suthiwartnarueput said on TV channel JKN-CNBC on Monday.

Fortune

Which global economy does your state match up to?

Fortune compares each state to the country with the most similar GDP. Texas, meet Canada; New York, meet Brazil.

Bangkok Post

OECD predicts SE Asian growth to decline

Economic growth in Southeast Asia is forecast to drop from 5.6% in 2022 to 4.6% this year, pressured by weaker demand as the global economy slows, says the Organisation for Economic Co-operation and Development (OECD).

ABC News

National recycling scheme being launched for children's car seats

A scheme to recycle children's car seats is part of a push to move Australia closer to a circular economy, focusing on minimising our impact on the environment, while also keeping kids safe.

WEKU

Credit crackdown weighs on businesses

Even before the collapse of Silicon Valley Bank last month, other banks were getting stingier about making loans. That makes it harder for businesses trying to grow and raises the risk of recession.

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