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The Latest Breaking News from Economy

Business output shrinks for second month

Demand for services has cooled off but manufacturing conditions remain relatively robust, according to a new survey.

AAP

2 Stocks to Buy for Beginners to Get Started

Despite the macro issues, many believe the U.S. economy might achieve a ‘soft landing.’ Moreover, amid surging optimism, the S&P 500 could pull off a year-end rally. However, as uncertainty remains, beginners with little money could consider investing in quality stocks AT&T (T) and Berry Corporation (BRY), which are currently…

StockNews.com

Mukesh Ambani: Indian economy to grow 13-fold to $40 trillion by 2047

GANDHINAGAR: India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday.

The Times of India

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Mukesh Ambani says Indian economy to grow 13-fold to $40 trillion by 2047

The Times of India

Steadying the ship, but more detail needed: our post-Budget analysis

Insider speaks to a tax expert to dig into the finer details of the Autumn Statement and look ahead to the Scottish Spending Review

Insider UK

Alumina refines credible path to net zero

Clean energy and local expertise could transform alumina refining, which has been one of toughest sectors to crack in decarbonising the Australian economy.

AAP

UK forecast for 'worst recession among top economies' due to Brexit and Tory policies

The latest forecast from the OECD revealed a sharp downgrade for the UK economy, which is expected to shrink by 0.4 in 2023 and grow by just 0.2…

The National (Scotland)

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Starmer says Labour government would have to ditch policies to revive battered economy

Sir Keir Starmer promised a ‘pragmatic’ approach to migration policy and acknowledged he would put stability ahead of some ‘good Labour things’

The Independent UK

Starmer woos business chiefs with focus on economic stability

Labour leader says current EU trade deal is not working, but vowed not to rejoin the single market

Insider UK

Starmer seeks to woo business chiefs with focus on economic stability

Sir Keir Starmer promised a “pragmatic” approach to migration policy and acknowledged he would put stability ahead of some “good Labour things”.

The Independent UK

UK to be second weakest performer of world’s big economies next year – OECD

Most countries’ forecasts cut as Ukraine war prompts ‘largest energy crisis since the 1970s’

The Guardian - UK

OECD says UK economy set for worst performance in G7

Germany’s economy is the only other G7 nation set to shrink next year

Evening Standard

The coming Moon economy

NASA's most recent Moon mission is stoking the flames of a burgeoning lunar economy.

Axios

OECD forecast: High rates and inflation to slow world growth

Hobbled by high interest rates, punishing inflation and Russia’s war against Ukraine, the world economy is expected to eke out only modest growth this year and to expand even more tepidly in 2023

The Independent UK

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Fortune

If you think the world’s energy crisis is bad right now, next winter will be worse, says the OECD

The OECD says the true scale of the world’s economic woes will only become clear in 2023, when the organization predicts “a significant slowdown" for the global economy.

The Guardian - UK

Eurosceptic former MP Owen Paterson takes UK government to European court of human rights – as it happened

Former Tory cabinet minister and arch Eurosceptic claims his rights to privacy infringed by inquiry into lobbying

Asharq Al-Awsat

IsDB Tackles Growth Challenges of Members with Seven-Item Plan

International financial institutions stand out in times of crises, such as recession and inflation the global economy is now facing. These problems emerged from disruptions in global supply chains as production declined after the coronavirus pandemic. Disruption in global supply chains and lowered production rates have caused international borrowing rates…

The Guardian - UK

UK borrows more as energy support begins and economy slows

Losses on government bonds and higher debt interest caused by rising inflation add to October figure

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Daily Mirror

Keir Starmer tells firms to 'help' Britain off its 'immigration dependency'

Labour's leader said he will be 'pragmatic' about immigration - but did not promise to relax the Tories' rules overall. He told firms: 'Our common goal must be to help the British economy off its immigration dependency'

Reuters

South Korea warns of economic damage if truckers go on strike

South Korea's prime minister urged unionised truckers on Tuesday to scrap plans to go on strike this week to spare the economy what he called paralysis and irreversible damage, fuelling fears for the country's post-pandemic recovery.

ABC News

Drug, alcohol and smoking addiction costing Australia billions, new report shows

Addictions cost the Australian economy more than $80 billion in 2021, according to a new report that argues for the nation to rethink its approach to the issue.

Reuters

Beijing shuts parks, Shanghai tightens entry as China COVID cases rise

Beijing shut parks and museums on Tuesday and Shanghai tightened rules for people entering the city as Chinese authorities grapple with a spike in COVID-19 cases that has deepened concern about the economy and dimmed hopes for a quick reopening.

The Times of India

China sees lockdowns surge in week since Covid policy adjusted

BEIJING: Covid control restrictions now weigh on a fifth of China's economy as infections continue their upward march, defying the central government's call for more targeted, less disruptive Covid Zero measures.

The Times of India

Union Budget 2023: India Inc seeks capex focus, sops for jobs in next budget

NEW DELHI: Industry captains on Monday asked finance minister Nirmala Sitharaman to retain her focus on public spending on infrastructure, which will also include private investment, provide sops for sectors that create additional jobs, continue the concessional tax regime for the manufacturing sector and help channelise funds into the green…

The Guardian - UK

Keir Starmer vows to wean business off ‘cheap labour’

Labour leader to tell CBI conference that UK’s low-pay economy and reliance on immigration must end

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