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The Latest Breaking News from Economy

Japan opens borders to tourists as last pandemic travel restrictions eased

Japan removes strict Covid-19 travel curbs, fuelling hopes a tourist boom will reinvigorate the economy

The Guardian - AU

Beto O’Rourke: Texas economy is successful but not because of Greg Abbott

DALLAS — The Texas economy is humming, but it’s not because of Gov. Greg Abbott — it’s in spite of him, Beto O’Rourke said Monday.

Tribune News Service

'Aftershocks of Kwarteng’s disastrous mini-Budget continue to be felt across country'

The Chancellor’s botched intervention has caused the price of mortgages to spiral, damaged confidence in Britain’s economy and increased the cost of government borrowing

Daily Mirror

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Google leads digital skills drive

Google is joining hands with the public and private sectors to provide 22,000 scholarships under "Samart Skills", a programme aiming to equip workers with digital skills for which demand is expected to reach 1 million by 2030.

Bangkok Post

US is headed for a recession, says head of JP Morgan Chase bank

Jamie Dimon said the Federal Reserve ‘waited too long and did too little’ as inflation has surged in the past 18 months

The Guardian - US

US rate hikes could fan local inflation

Treasurer Jim Chalmers is heading to Washington to take the temperature of the global economy before handing down his first budget.

AAP

Recession fears deepen in Thailand

State agencies, businesses and households are being urged to brace for a global economic slowdown which could easily deteriorate into a recession next year.

Bangkok Post

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Mexico names new head of tax authority

Mexican President Andres Manuel Lopez Obrador on Monday designated Antonio Martinez to be the new head of Mexico's new tax authority (SAT) in replacement of Raquel Buenrostro, who was named as economy minister last week.

Reuters

Large rail union rejects deal, renewing strike possibility

The third largest railroad union rejected its deal with the railroads Monday — renewing the possibility of a strike that could cripple the economy — but before that could happen both sides will return to the bargaining table

The Independent UK

Paul Tudor Jones Correctly Predicted The 1987 Stock Market Crash: Here's What The Billionaire Hedge Fund Manager Says Is Coming Next

Billionaire hedge fund manager Paul Tudor Jones sees continued weakness ahead as the U.S. economy heads for recession.

Benzinga

Liz Truss dreams of growth – but even if she pulls it off, it won’t help Britain

Incomes have stalled while the rich get richer. It’s clear the obsession with GDP has to change, says the University of Sheffield’s Michael Jacobs

The Guardian - UK

Explainer-What do Lula and Bolsonaro propose for Brazil fiscal policy?

Both of Brazil's presidential candidates, President Jair Bolsonaro and former President Luiz Inacio Lula da Silva, have proposed changes to the constitutional spending limit that defined fiscal policy in Latin America's biggest economy for the past six years.

Reuters

Germany to pay December gas bills for households and businesses in new energy crisis plan

Europe’s largest economy must cut consumption by 20 per cent to avoid potential shortages, expert warns

The Independent UK

‘Prepare for back-breaking strikes’: Iran energy workers take action as protests against regime widen

Videos showed workers chanting ‘death to the dictator’

The Independent UK

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The Guardian - US

Sanders warns Democrats not to focus solely on abortion ahead of midterms

Senator urges party to center campaign on economy, warning: ‘You can’t win elections unless you have support of working class’

Al Jazeera

Is the US economy in a recession and taking the world with it?

The US is facing rising recession fears even as economic indicators point to mixed signals.

Chicago Sun-Times

University of Chicago prof, former Fed chair Bernanke share Nobel for research on banks

Bernanke, University of Chicago professor Douglas W. Diamond and Philip H. Dybvig were recognized Monday for their research into the fallout from bank failures.

The Guardian - US

Democrats shouldn’t focus only on abortion in the midterms. That’s a mistake

America has long faced structural economic crises. Democrats must win on the economy and present a pro-worker agenda

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The Conversation

How colleges and universities can get innovation wrong (and how they can get it right)

As Canada begins to understand and navigate the global post-pandemic landscape, our country’s ability to innovate will be an important success factor in its recovery. The pandemic saw massive strides made in innovation. This forward momentum provides an opportunity for Canada to build a more resilient and robust post-COVID economy.

Bangkok Post

Key issues as Malaysia gets set to go to the polls

KUALA LUMPUR: Malaysian Prime Minister Ismail Sabri Yaakob called for an early election on Monday, to win a stronger mandate and stabilise a rocky political landscape that has persisted in the wake of the multi-billion dollar 1MDB scandal and Covid crisis.

Reuters

Explainer-Key issues as Malaysia gets set to go to the polls

Malaysian Prime Minister Ismail Sabri Yaakob called for an early election on Monday, to win a stronger mandate and stabilise a rocky political landscape that has persisted in the wake of the multi-billion dollar 1MDB scandal and COVID crisis.

Birmingham Post

Welsh-speaking counties to get £11m fund to boost economic prosperity

The financial package will be available over the next three years to four counties which have the highest levels of Welsh speakers

Birmingham Post

What are investment zones and will they boost the UK economy

Nick Bennett of Savills says while there will be legitimate concerns over displacement UK-wide zones could provide a significant boost to investment and job creation

Los Angeles Times

Commentary: OPEC’s move to raise oil prices is all about Russia

On Wednesday, OPEC+ announced a dramatic reduction in production quotas, by 2 million barrels per day. According to oil ministers, the goal is to boost crude prices and “encourage investment” in the sector — making it sound like they are doing the world a favor. In fact, this is an…

Al Jazeera

Xi Jinping’s bid to extend rule puts ‘zero-COVID’ exit in focus

The Chinese leader has given no indication that the upcoming party congress will herald a shift in pandemic strategy.

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