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The Latest Breaking News from Economy

'Terrible toll' of Russia's year-long invasion of Ukraine

PARIS: When Russia's President Vladimir Putin ordered the invasion of Ukraine on Feb 24, 2022, he started a war that has killed tens of thousands of people, ravaged cities and pummelled the country's economy.

Bangkok Post

No economic 'knockout' yet from West's sanctions on Russia

One month into the invasion of Ukraine, President Joe Biden declared that sanctions against Russia had rendered the ruble almost immediately “to rubble.”

The Independent UK

What are Australia’s tax concessions on super and are they a problem?

Tax concessions on retirement savings are costing the budget billions and some people are accumulating mega balances

The Guardian - AU

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Has Russia's economy withstood Western sanctions?

Vladimir Putin claims the Russian economy has withstood Western sanctions, as he prepares to mark one year since the invasion of Ukraine. While Russia's GDP has contracted less than many analysts expected, Beata Javorcik of the EBRD explains that's largely the result of years of "sanctions-proofing", and doesn't mean that…

France 24

‘Goldilocks’ is dead, warns Morgan Stanley Wealth Management. The risk of a ‘hard landing’ for the economy is growing

“With consumption and inflation reheating, risks of a hard landing resembling a boom/bust are growing,” Lisa Shalett, Morgan Stanley Wealth Management’s CIO, warns.

Fortune

Statement on election cheered by industry

Business leaders and stock market analysts welcomed the premier's statement vowing to dissolve parliament next month ahead of an election likely to take place on May 7.

Bangkok Post

How Putin has shrugged off unprecedented economic sanctions over Russia's war in Ukraine – for now

The U.S. and four dozen other countries have imposed punishing sanctions on Russia in reaction to its invasion of Ukraine on Feb. 24, 2022. The sanctions were unprecedented in their scope and severity for an economy of Russia’s size.

The Conversation

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Economy and Society, February 21, 2023: Will Congress block Biden’s ESG retirement plan rule?

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

IMF head says new lending to Ukraine could be 'sizeable'

Ukraine could secure "sizeable support" from the International Monetary Fund under a new, longer-term program, and its economy should see a gradual recovery over the course of this year, IMF Managing Director Kristalina Georgieva said on Tuesday.

Reuters

As tech jobs melt, the trades beckon. This plumber makes $140K+

Meet will lane, 31, of Tacoma, Washington, who never went to college.

Tribune News Service

Opinion: Chinese Households’ Financial Dilemma Is a Problem for the Economy

A surge in savings and a race to reduce liabilities have thrown the post-Covid recovery into further disarray

Caixin Global

Treasury deputy: Russia sanctions are degrading its military

A top Treasury Department official says Russia’s mounting battlefield losses are a testament to the effectiveness of U.S. and allied sanctions on the Kremlin and its military machine

The Independent UK

Russian economy shrank 2.1% in 2022, much less than expected

The economy defied fears of a recession and previous predictions that it would contract by more than 12 percent.

Al Jazeera

Macron champions pension plan as key to French economy

French President Emmanuel Macron is advocating for his contested plan to increase the pension eligibility age

The Independent UK

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Newcastle Herald

'We've been left in the dark too long': Labor plans to resuscitate city's night-life

Labor says it will turn Newcastle into a vibrant throng of activity after sundown if it wins the state election in March.

The National (Scotland)

FM leaves behind 'positive' legacy on putting people over profit, academic says

NICOLA Sturgeon has helped spur global support for the introduction of a wellbeing economy, a political economist has said.

ABC News

Australia to flirt with recession this year, warns NAB

Economists are warning Australia is at a heightened risk of recession in 2023 as the Reserve Bank keeps aggressively raising interest rates, with a per capita recession looking likely.

Fortune

Stocks have climbed into the 'death zone’, warns Wall Street's top strategist

Wilson dismissed investor hopes for a so-called 'no landing' as false optimism sustained only by another $6 trillion in fresh liquidity added to the global economy since October.

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StockNews.com

2 Stocks on Track for Massive Gains in 2023

While Federal Reserve Chair Jerome Powell is trying to steer the economy toward a ‘soft landing,’ a strong job market will likely keep the Fed wary. Meanwhile, as investors mull over the Fed’s next steps, the market could remain volatile for some time. Hence, investing in fundamentally sound stocks, CVS…

Fortune

How the Russian economy self-immolated in the year since Putin invaded Ukraine

Russia will realize it does not need Putin, just as the world has already realized it does not need Russia.

Tribune News Service

South Korea Joins space race in tech drive as Russia’s isolation deepens over war in Ukraine

South Korea is preparing a domestic rocket development program as part of an ambitious drive to carve out a larger slice of the global space economy following the implosion of its partnership with Russia.

Reuters

Developing countries' debt troubles in focus at G20 talks, says Germany's Lindner

The outlook for the global economy and the situation of highly indebted countries will be the main topics of discussion at the Group of 20 (G20) meetings taking place this week in India, German Finance Minister Christian Lindner said on Monday.

Insider UK

Women in entrepreneurship report published

Government-commissioned review identifies 31 ways to reduce gender gap and boost the economy

Chicago Sun-Times

Helping parents cover high cost of child care benefits families and our economy

I’m supportive of the efforts of any politician from any party who supports helping families. It’s past time that politicians from both sides of the aisle come together to do so.

Asharq Al-Awsat

IOGP Looks Forward to Working with OPEC to Ensure Global Energy Security

For three years now, energy security has been the most prevalent issue for the global economy. The world blames the high prices of oil and gas and accuses the sector of causing record-high inflation rates. Curbing high inflation requires increasing interest rates, which drags the global economy toward recession. Governments…

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