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The Latest Breaking News from Economy

Germany at a standstill as huge strike halts planes and trains

Airports and bus and train stations across Germany were at a standstill on Monday, causing disruption for millions of people during one of the largest walkouts in decades in Europe's biggest economy as soaring inflation stokes wage demands.

Reuters

El Paso charter fight tests whether a Texas city will move away from fossil fuels

As global efforts to combat climate change falter, climate activists have turned to local initiatives to rein in carbon emissions. A May vote on a city charter amendment has thrust El Paso into the fray.

The Texas Tribune

A steel plant ready for war shows hit to Ukraine's economy

The damage to Ukraine’s metal industry has crippled a lucrative sector and key employer needed to support an economy cratered by war

The Independent UK

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Taiwan welcomes Czech delegation after Honduras shifts allegiance to China

Taiwan President Tsai Ing-wen, seeking closer ties with Western democracies in the face of Chinese pressure, welcomed a large Czech delegation to the island on Monday, a boost for Taipei after once-loyal ally Honduras switched allegiance to Beijing.

Reuters

New SNP leader must ‘pick up the pieces’ of Sturgeon’s ‘woeful record’ – Labour

The next leader of the SNP will be announced in Edinburgh on Monday afternoon.

The Independent UK

The Fed Speaks- Inflation Remains the Enemy

The U.S. central bank remains unphased by the recent upheaval in the banking sector as it continues to battle inflation by tightening credit. The Fed allowed inflationary pressure to mount in 2021, waiting too long to boost interest rates, pushing inflation to the highest level in four decades. In 2023,…

Barchart

Pheu Thai eyes economic posts

The Pheu Thai Party has vowed to take charge of all ministries that handle economic affairs to carry out its campaign policies if it is elected to lead the government after the next election.

Bangkok Post

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European economists call for Scots to bring 'rebel' spirit to major issues

FRENCH and Icelandic economists have both called for the “rebel” characteristic of Scots to emerge to face the climate crisis and economy.

The National (Scotland)

IMF chief warns global financial stability at risk from banking turmoil

Kristalina Georgieva joins others in voicing fears about threat to world economy after recent bank collapses

The Guardian - UK

Americans don't assume moms will stay home with their kids, but the gender pay gap, motherhood penalty, and childcare crisis makes it hard for them to keep working

A lack of childcare is keeping parents out of the workforce. But what's driving the conversations around who stays home with the kids?

Fortune

UK's economy 4% smaller because of Brexit

Effect of leaving the EU is on the 'magnitude' of the coronavirus pandemic and rising energy prices

Wales Online

Brexit damage as big as Covid, says OBR – predicting five years before incomes recover

UK seeing ‘biggest squeeze on living standards’ on record, says head of fiscal watchdog

The Independent UK

Scotonomics day two: Activists, community, and central banks

ACROSS two venues in Dundee, Scotonomics provided attendees with fifteen sessions on day two.

The National (Scotland)

So things are getting better – but it’s no thanks to the Bank of England

Governor Andrew Bailey has had to accept that the economy is resilient, but he’ll still find reasons to keep interest rates high

The Guardian - UK

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France 24

Small businesses in Lebanon struggle to stay afloat amid lira’s endless fall

Lebanon's ongoing economic crisis has left countless individuals and businesses to adapt to the harsh realities of the collapsing economy. FRANCE 24 met with Pierre, an officer in one of the state's security agencies, and Houssam, the owner of a trendy café in Beirut, who explain the challenges to sustaining…

Asharq Al-Awsat

Official: Foundation of China's Economic Recovery not Solid Enough

The foundation of China's economic recovery is not solid enough, a senior Communist Party official said on Saturday, warning of possible spillover effects from global economic problems. Some countries have to play a balancing act as they try to stabilize their economies, prices and financial markets, said Han Wenxiu, deputy…

Fortune

Why keeping Bitcoin mining in the U.S. helps the economy, national security, and even the environment

Bitcoin mining is going to happen. It's best to have it happen it here.

The National (Scotland)

Economics of independence 'far less important' than politics, says economist

ECONOMICS is "far less important" when considering questions like Scottish independence than politics, a professor of the subject has said.

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Bangkok Post

Latin America seen as ideal partner for BCG

Thailand and Latin America and the Caribbean (LAC) hope to enhance economic outcomes by collaborating in a Bio-Circular-Green (BCG) economy transition, according to Pornpimol Kanchanalak, Adviser to the Minister of Foreign Affairs of the Kingdom of Thailand.

Bangkok Post

Prepare to invest amid falling interest rates

The global economic and investment picture this month is strikingly different from last month. In our article last month "Global and Thai economy in a no-landing scenario", we warned about rising risks, even as others predicted a "no landing" situation, or an economy that can continue without slowing down or…

Reuters

Ukraine creditors group: provides assurances to support IMF steps to help Ukraine

The Group of Creditors of Ukraine (GCU) body said on Friday that it had provided financing assurances to support the International Monetary Fund's (IMF) approval for an upper credit tranche programme to help restore Ukraine's economy.

Fortune

A fed official just said abandoning the 2% inflation target would be a 'disaster' that would send the world back to the '70s despite banking crisis

St. Louis Fed president Bullard told Bloomberg Friday he fears '70s-style inflation will hit the global economy if the Fed changes its inflation target.

Barchart

Crude Closes Moderately Lower on Economic Concerns

May WTI crude oil (CLK23 ) on Friday closed down -0.70 (-1.00%), and May RBOB gasoline (RBJ23 ) closed down -1.23 (-0.48%). Crude oil and gasoline prices Friday closed moderately lower due to ongoing concerns that the banking turmoil could push the global economy into a recession, undercutting energy demand....

Daily Mirror

Fury as 49-day PM Liz Truss 'gives peerages to people who plunged UK into chaos'

Liz Truss - who lasted just 49 days as PM after she tanked the economy - has nominated at least four new lifelong members of the House of Lords.

Fortune

Billionaire investor Barry Sternlicht says the Fed's rate hikes are like using a 'steamroller' to 'kill a small fly' and warns the economy is about to 'hit the wall'

The billionaire investor says interest rate hikes are undermining the economy and could lead to more bank turmoil.

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