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The Latest Breaking News from Economy

Inflation, economy are top of mind for voters in midterm poll

Inflation and the economy are top-of-mind for voters heading into the midterm elections, with a majority of registered Republicans prioritizing economic issues, according to an ABC News/Ipsos poll.

Tribune News Service

How Democrats can start winning

Anand Giridharadas' new book tackles tough questions: How to challenge dominant narratives — and win elections

Salon

Biden faces 'unpredictable' era with China's empowered Xi

President Joe Biden’s administration is taking stock of a newly empowered Xi Jinping as the Chinese president begins a third, norm-breaking term as Communist Party leader

The Independent UK

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Allison Schrager: We should just accept we’re going to have a blah economy

This economy can’t go on forever. GDP may still be growing, but it’s at an anemic rate. And other indicators are piling up that suggest a recession is imminent: The yield curve is inverting, hiring and house price growth is slowing and Philadelphia may win the World Series.

Tribune News Service

Twitter deal may signal point when the ‘everything bubble’ bursts

China’s property meltdown, the unwinding of QE and the tech stock plunge all show a fragile global financial ecosystem under stress

The Guardian - UK

Ignore US government economic figures – base your decisions on actual data

The US reported the GDP bounced back – but at best it’s preliminary data that’s revised multiple times. Info from the top two payroll services are a better bet

The Guardian - US

PIF Focuses on Achieving ‘Impact’ for Saudi Economy Development

The Saudi Public Investment Fund’s (PIF) strategy focuses on achieving economic impact through operable sectors, said Abdullah Alsalem, PIF’s head of strategy and planning.

Asharq Al-Awsat

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Voters choose Sunak’s Tories over Labour to repair economy, new poll reveals

Rishi Sunak’s arrival in Downing Street is already helping to rebuild the party’s reputation for financial management

The Guardian - UK

Starmer: UK does not need a comedian as prime minister

The Labour leader said it was ‘not a laugh to crash the economy’ in an interview with Mumsnet.

The Independent UK

Boeing CEO to Asharq Al-Awsat: Aviation Industry Is Recovering, FII Came at an Important Time

President of Boeing International Sir Michael Arthur said that the aviation industry was recovering and in good condition, stressing its vitality for the global economy. Commenting on the Riyadh-hosted Future Investment Initiative (FII) forum, Arthur told Asharq Al-Awsatthat he was very impressed with the scope of the conference, which he…

Asharq Al-Awsat

How Biden changed his tune on inflation as prices soared and the midterms loomed

At first, the White House said inflation would be a temporary issue. But it quickly became the top economic priority — and major source of midterm political pain — for President Biden.

WEKU

Pheu Thai opposes foreign land ownership

The Pheu Thai Party says it opposes a new government plan to allow eligible foreigners to own as much as one rai (roughly 0.4 acre) of land for residential purposes, saying it would not truly benefit the country’s economy and people.

Bangkok Post

Heat Waves Cost Poor Countries the Most, Exacerbating Inequality

Heat waves, intensified by climate change, have cost the global economy trillions of dollars in the last 30 years, a study published Friday found, with poor countries paying the steepest price. And those lopsided economic effects contribute to widening inequalities around the world, according to the research. "The cost of…

Asharq Al-Awsat

Internet economy set to generate $35bn in 2022

Thailand's internet economy is expected to rise 17% year-on-year to US$35 billion in gross merchandise value (GMV) in 2022, driven by e-commerce, eventually reaching $53 billion in 2025, according to the "e-Conomy SEA 2022" report by Google, Temasek and Bain & Company.

Bangkok Post

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ABC News

West Australian tech experts call for more investment from government as state tries to pivot away from resources sector

As Western Australia tries to diversify its economy away from the resources sector, tech experts are calling for more investment from the government to help keep start-ups in the state, despite the pull from overseas.

The Guardian - UK

Climate crisis study finds heatwaves have cost global economy $16tn

Researchers examining data going back to 1990s find global south has borne brunt despite causing least emissions

Daily Mirror

Councils may be forced to cut essential services to plug £3bn blackhole, union warns

Unison warns Local communities cannot "pay the price for the government’s grotesque mismanagement of the economy" as councils face a record shortfall of £3.19billion

The Independent UK

Parents want election as they ‘pay the price’ for crashed economy, Starmer says

Labour leader repeats call for voters to have their say – as Independent petition reaches 450,000

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Financial Times

The Fed’s dilemma: how long to ‘keep at it’ on inflation

Amid conflicting economic signals and with midterms looming, the US central bank weighs a critical decision over interest rates

Benzinga

Mortgage Applications At A Near 30-Year Low - Has The Federal Reserve Gone Too Far?

Almost every day for the last several months, people have been subjected to a steady trickle of bad news about the state of America’s real estate market. Unless you’ve been living under a rock, it’s impossible to avoid talk of the U.S. Federal reserve’s almost yearlong spree of raising interest…

Birmingham Post

Brexit deal should be renegotiated says director general of British Chambers of Commerce

A renegotiated trade agreement would boost export growth and in turn the UK economy said Shevaun Haviland

StockNews.com

Here Are 3 Stocks to Buy Under $50 in Q4

Although the stock market has been under pressure this year, many believe bulls will overtake the bears in 2023. Moreover, the U.S. economy’s third-quarter GDP surpassed growth estimates, easing recession fears to some extent. Therefore, this could be the right time to scoop up quality stocks Pfizer (PFE), Ryerson Holding…

The Guardian - UK

Rishi Sunak – if you’re serious about fixing the British economy, invest in childcare

A cost of childcare crisis is forcing parents – mostly mothers – out of the workplace. Now we’re taking the fight to the streets, says Labour MP Stella Creasy

The Guardian - UK

Tories have ‘crashed the economy’ says Starmer amid calls for election

Labour leader says people already paying the price for government mistakes, with cuts and tax rises ahead

Evening Standard

Watch: Rishi Sunak promises ‘fairness at the heart’ of new budget

Rishi Sunak promised to put 'fairness at the heart' of the 'difficult decisions' the Government will be making as he seeks to plug a multi-billion-pound black hole in the nation’s finances. Speaking to broadcasters at Croydon University Hospital, the Prime Minister said: 'I want people to be reassured, we will…

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