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The Latest Breaking News from Economy

Explainer: What if US economy goes into recession? How it may impact India

NEW DELHI: The US Federal Reserve is expected to lift interest rates by three-quarters of a percentage point for a third straight time on Wednesday and signal how much further and how fast borrowing costs may need to rise to tame a potentially corrosive outbreak of inflation.

The Times of India

Can Larry Summers please shut up now?

Former Harvard president has been playing inflation Cassandra on TV for months. Can we hear other views?

Salon

Nigeria's universities can find funds and produce job creators: here's how

Industrial action by Nigeria’s university lecturers has entered its seventh month. The strike is one of the longest by academic staff in Africa’s most populous country.

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

RBA deputy governor Michele Bullock says outlook for global economy is 'quite worrying'

RBA deputy governor Michelle Bullock warns of risks in the global economy, but says the RBA's ability to create money helped Australia's economy through the pandemic

ABC News

Federal Reserve warns of ‘pain’ ahead as inflation surges

The US central bank is expected to announce a sharp rise in interest rates on Wednesday in an attempt to tackle the cost of living crisis

The Guardian - US

IMF Adamant on Linking Agreement with Lebanon to Reform Laws

Lebanese caretaker Economy Minister Amin Salam affirmed on Tuesday that the International Monetary Fund (IMF) delegation visiting Beirut this week carries a very clear message stressing an urgency that Lebanon approves and passes reform laws. “The IMF carries a very clear message, which is the urgency in approving these laws;…

Asharq Al-Awsat

Taiwan’s Economic Slowdown (Part 2): Taiwan’s High Profit Margins Mask Its Slow Economic Growth

Taiwan’s high profits are eating into labor’s share of the economic pie — and hampering growth.

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Zero-Covid hurts 75% of European firms in China

BEIJING: China's "inflexible" and "inconsistent" zero-Covid policy is crippling European business operations in the country, a major business lobby said Wednesday, warning that the presence of the companies "can no longer be taken for granted".

Bangkok Post

‘Ideology trumping economy’: EU body warns firms souring on China

European Union Chamber of Commerce says companies increasingly view China as “less predictable, reliable and efficient”.

Al Jazeera

High inflation in sight, Fed to signal more rate hikes ahead

Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming, he issued a blunt warning: The Fed’s drive to curb inflation by aggressively raising interest rates, he said, would “bring some pain” for Americans

The Independent UK

Asian lender ADB cuts forecasts to reflect weakening outlook

The Asian Development Bank has downgraded its forecasts for growth in the region, citing the war in Ukraine, rising interest rates to combat decades-high inflation, and China's slowing economy

The Independent UK

We can't solve Australia's mental health emergency if we don't train enough psychologists. Here are 5 fixes

Almost 50% of Australians experience mental illness in their lifetime, costing our economy up to A$220 billion annually, according to pre-pandemic figures.

The Conversation

Investors: THIS is the Elephant in the Room

It’s time to stop beating around the bush. The key topic is inflation and how much damage the Fed will create in the US economy to tame this economic beast. The more damage...the more downside for the stock market (SPY). 40 year investment veteran, Steve Reitmeister, shares his thoughts on…

StockNews.com

Fed keeps focus on US economy as the world tilts toward a recession that it may be contributing to

The U.S. Federal Reserve holds inordinate sway over the world’s economies – yet it acts, in some ways, like they don’t really matter.

The Conversation

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Foreign Affairs

America’s Education Crisis Is a National Security Threat

A smarter world is changing the balance of power.

Bangkok Post

DES asks for capacity from satellite auction

The Digital Economy and Society (DES) Ministry is demanding satellite capacity be allocated for state use from the winning bidders of an upcoming satellite orbital slot auction.

Reuters

UK's Truss calls on like-minded nations to unite against authoritarianism

British Prime Minister Liz Truss will call on like-minded nations to combat authoritarianism together, drawing on Russia's invasion of Ukraine to underline the need to push back against those "who weaponise the global economy".

The Guardian - UK

Liz Truss urges world leaders to follow UK with trickle down economics

Reports that stamp duty will be cut as PM uses speech to UN to argue for far-reaching tax reductions, putting her at odds with Joe Biden

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Bangkok Post

Thai sustainability expo goes international

Thai Beverage Plc (ThaiBev) and its four major trading partners will host the country's largest Sustainability Expo 2022 (SX 2022) at the Queen Sirikit National Convention Center from Sept 26-Oct 2 which is expecting more than 10,000 visitors per day.

Bangkok Post

The risk of competitive rate hikes

The world is facing the risk that major central banks will undertake competitive interest-rate hikes that may look desirable for their countries individually but could drag the world economy into an unnecessary recession.

Tribune News Service

American Airlines is revamping premium class with private suites, lay-flat seats

American Airlines is overhauling its most exclusive seating on long-haul jets, adding “private suites” with lay-flat seats that could compete head-to-toe against premium foreign carriers.

Reuters

ECB's Panetta defying calls to be Italian finance minister, sources say

ECB board member Fabio Panetta is resisting calls from Giorgia Meloni, the front-runner to be Italy's next prime minister, to take the job of economy minister should the rightist bloc win election on Sunday, two political sources told Reuters.

WEKU

One thing is top of mind for many young Brits, and it's not the royal family

While all eyes were focused on England in the aftermath of Queen Elizabeth II's death, many young people in London have other issues on their minds. For most, the biggest one is the economy.

The Guardian - UK

Liz Truss pledges to review tax rates amid cost of living crisis

PM’s remarks pave way for radical overhaul that could include rethinking income tax brackets

Daily Mirror

Joe Biden lashes out at Liz Truss' favourite approach to economy hours before they meet

The US President said he was 'sick and tired of trickle-down economics' - exactly the approach Liz Truss is planning to take in a tax-slashing mini-Budget this Friday

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