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The Latest Breaking News from Economy

‘Noticeable change’: CNN hints at jobs cuts this year

CNN has hinted at budget cuts and layoffs before the end of this year, according to the New York Times. In a memo to employees, CNN chairman Chris Licht said that concerns over the global economy had forced him to re-evaluate the company’s priorities, observing that he would make a…

Newslaundry

Global stocks mixed ahead of US GDP, Europe rates decision

Global stock markets are mixed ahead of an update on the U.S. economy and a European Central Bank meeting that is expected to raise its key interest rate to a 13-year high to fight stubbornly high inflation

The Independent UK

New GDP report shows an economic turnaround, but don't be fooled

Thursday's GDP report shows the U.S. economy grew at an annual rate of 2.6% in July, August and September, after shrinking in the first half of the year.

WEKU

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Lloyds Bank debt fears as talk of house price crash grows

FRESH fears about the UK economy emerged today when Lloyds Bank set aside more than half a billion pounds to deal with bad debts and warned on a “deteriorating” outlook.

Evening Standard

Europe likely to see another jumbo interest rate increase

The European Central Bank is getting ready to go big again

The Independent UK

Southeast Asia digital economy slows as consumers curb spending

Growth in Southeast Asia’s internet economy is slowing after years of expansion, showing that even emerging digital markets aren’t immune to economic headwinds.

Bangkok Post

EXPLAINER: What's up with the Bank of Japan's unique track?

Even as the Federal Reserve and the world’s other central banks raise interest rates to try to curb inflation, the Bank of Japan has stood firm, keeping its key interest rate at minus 0.1%

The Independent UK

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US economy likely returned to growth last quarter

The problems have hardly gone away

The Independent UK

The 'Experts' Were Never Going To Fix Inflation

The idea that the Fed has the knowledge necessary to control the economy with perfectly calibrated policies was always an illusion.

Reason

Democrats grasp for third rail in closing message focused on Social Security and Medicare

Amid signs of a growing red wave, Democrats are trying to dent the GOP's credibility on the economy.

Axios

You need to read this fan’s hilarious critique of Skyrim’s economy

One fan finds some hilarious Skyrim plot holes after examining the economy in the classic Bethesda RPG

USA Today Sports Media Group

From the economy to Rwanda, Rishi Sunak inherits a hefty in-tray

As crises and party management problems loom, PM must act soon to try to reverse Tories’ poor poll ratings

The Guardian - UK

New rules for food businesses under draft Circular Economy Strategy

ACT government publishes its draft Circular Economy Strategy.

The Canberra Times

Biden and Journalists Agree: Republicans Would Deliberately 'Crash' the Economy

But…does that make any sense?

Reason

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Al Jazeera

UK PM Rishi Sunak faces lawmakers’ questions for the first time

The new Conservative leader seeks to instill confidence that his government will offer economic stability.

Benzinga

So-Young's CEO-led Buyout Dissolves After Stock Plunge

Key Takeaways: So-Young said a group led by its co-founder and CEO has withdrawn its earlier buyout offer made nearly a year ago The withdrawal came as the company faces challenges from a regulatory crackdown on the medical aesthetics industry and a slowing Chinese economy By Warren Yang

Insider UK

Government considers tax on cruise ship visitors

Under the Local Visitor Levy Bill, councils could be given the power to charge overnight stays in hotels

The New Daily

Opposition hits out at Labor’s ‘vanity’ budget

The shadow treasurer rejected the concept of the structural deficit at the heart of the budget and said the economy could be grown faster.

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Asharq Al-Awsat

Saudi Arabia Tops G20 Countries in Tourism Recovery

Saudi Arabia has topped the G20 countries, which include the G20 economy, emerging market economies, and developing economies, at the level of economic recovery. Saudi ministers affirmed on Tuesday that work is underway to create a safe environment for long-term investments, as part of the sustainable development strategy. They pointed…

Dublin Live

Major change to alcohol sale hours in Tesco, SuperValu, Lidl, Dunnes, and other supermarkets

The new proposals are expected to give a much-needed boost to Ireland's night-time economy

Reuters

UK's Rishi Sunak delays plan to plug Britain's budget black hole

Britain's new Prime Minister Rishi Sunak on Wednesday delayed the announcement of a keenly awaited plan for repairing the country's public finances until Nov. 17, two-and-a-half weeks later than previously planned.

The Conversation

Chalmers hasn't delivered a wellbeing budget, but it's a step in the right direction

It was billed as Australia’s first wellbeing budget. But, five months into a new government, with so many economic fires to fight, Treasurer Jim Chalmers’ first budget was never going to be that.

Bangkok Post

New visa to let tourists with $130,000 live in Bali for 10 years

Indonesia has entered the race to attract wealthy global citizens for long-term stays in bolstering growth of Southeast Asia’s largest economy with a focus on its trump card: Bali.

The Independent UK

Davido: ‘Africa is beautiful, but we don’t have the best leaders handling the economy’ 

The Afrobeats superstar talks to Kevin E G Perry about launching his own festival in Atlanta, soundtracking the World Cup in Qatar, and how he ended up donating £450,000 to Nigerian orphanages over a Rolls Royce mishap

The Conversation

Crime, COVID and climate change - South African tourism faces many threats, but it’s resilient

South Africa’s tourism industry has been rocked by the murder of a German visitor during an attempted robbery. The development resulted in negative media publicity, with a potentially adverse impact on the country’s image as a safe tourist destination. This comes at a time when the sector is recovering from…

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