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The Latest Breaking News from Economy

With economy in trouble, UK gets ‘disruptor in chief’ as leader

LONDON — Liz Truss is happy to make enemies. The U.K.’s next prime minister has likened bureaucrats to “gremlins,” insulted domestic and foreign leaders, and said British workers need more graft.

Tribune News Service

Migration boost is bad news for Australia's environment – we mustn't ignore that

An increase in the permanent migrant intake to 195,000 this year is one of the jobs summit outcomes announced by the federal government on Friday. The business community pushed for this change, saying shortages of skilled employees are holding back the economy.

The Conversation

Gorbachev, macro-economics, and Gandhi

Concepts of free trade, financial freedom, and privatisation are not the right solutions for India’s citizens

The Hindu

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'The Government must act immediately': Welsh butcher's stark warning as his energy bills rise by 500%

Ieuan Edwards says the British economy is facing a 'catastrophe'

Wales Online

"Protect the economy, businesses and people's livelihoods" Welsh business leaders tell new PM Liz Truss

Liz Truss won the Tory Party leadership contest with 57.4% of the vote to become the UK's new Prime Minister

Birmingham Post

It's special, left behind those who ruled us for 250 years, says PM Modi on India becoming fifth largest economy

PM Modi said the country has broken the shackles of thousands of years of slavery and will only move forward.

The Hindu

Welsh firms face challenging future as forecasters predict a recession for the UK

New research on Wales’ economy shows climate for small firms in Wales “remains difficult”

Birmingham Post

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UK economy on brink of recession as Truss takes over, figures show

Activity in manufacturing and services fell last month as businesses struggle with soaring costs

The Guardian - UK

Andhra Pradesh to get investments worth Rs 1.26 lakh crore, green energy to attract Rs 81k crore

AMARAVATI: In a move that could pump required energies to the state’s economy, the State Investment Promotion Board (SIPB) on Monday cleared proposals with investment to the tune of Rs 1,26,622 crore. State is getting Rs 81,000 crore investments in green energy sector alone.

The Times of India

Next PM Truss promises ‘bold’ Tory vision as she targets 2024 election win

She said she would deliver on a plan to boost the economy and deal with the cost-of-living crisis after winning the Tory leadership.

The Independent UK

Tackling inequality key to climate fight

Tackling inequality is key to securing the public support needed to overhaul the global economy and reverse climate change, an update to the landmark 50-year-old computer simulation of environmental stress has found.

The Hindu

Legal work-related immigration has fallen by a third since 2020, contributing to US labor shortages

With Americans having fewer children and the nation’s labor force getting older, many employers in manufacturing, aviation and other industries are having trouble finding enough workers.

The Conversation

New PM Liz Truss promises to 'deal' with people's energy bills amid cost of living crisis

The new PM claims she will "deliver a bold plan to cut taxes and grow out economy"

Manchester Evening News

Liz Truss faces a financial whirlwind – will her plans for the economy work?

Liz Truss may have won the battle to become Britain’s next prime minister, but don’t expect much time for her to settle into office. People’s living standards are predicted to fall by an unprecedented 10% over the next two years, driven by rising prices of energy and other goods.

The Conversation

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Asharq Al-Awsat

Euro Plunges to 20-Year Low after Russian Gas Halt

The euro sank to a new 20-year low on Monday and below $0.99 after Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the region. The euro has been increasingly correlated with natural gas prices in recent months, with the…

Newcastle Herald

Wastewater could fuel Hunter's hydrogen economy

Millions of litres of wastewater could be used as fuel for green hydrogen production rather than being dumped at sea as part of a plan to transform the Hunter' long-term energy base.

Reuters

Tackling inequality key to climate fight - study

Reuters

China policymakers see renewed urgency for economic support

Chinese policymakers signalled a renewed sense of urgency on Monday for steps to shore up the flagging economy, saying this quarter was a critical time for policy action as evidence points to a further loss of economic momentum.

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The Times of India

In charts: India likely to overtake Japan as third-largest economy by 2029

NEW DELHI: With India surpassing the United Kingdom (UK) to become the world's fifth largest economy, a report by the State Bank of India (SBI) suggests that the country will outstrip two other major economies to become the third-largest economy by 2029.

Bangkok Post

Some Economists Rethink When, if Ever, China Will Pass U.S. in GDP

The sharp slowdown in China's growth in the past year is prompting many experts to reconsider when China will surpass the U.S. as the world's largest economy -- or even if it ever will.

The Guardian - AU

Catastrophe, pollution, dirty subsidies and nature capitalism: another week in the climate crisis

The chance of extreme events is increasing because emissions aren’t slowing down. The hard work to transform the economy has barely begun.

Reuters

EU to disburse 5 billion euro in aid to Kyiv this week - Ukrainian PM

Ukraine expects to receive 5 billion euros ($4.98 billion) in macro-financial aid from the European Union this coming week to support the economy and army, and to prepare for the looming winter, Ukrainian Prime Minister Denys Shmyhal said on Sunday.

The Conversation

Only South Africa's elite benefits from black economic empowerment -- and COVID-19 proved it

More than two decades ago the South African government put in place a policy designed to redress racial imbalances in the country’s economy. But, as I suggest in a recent paper, the policy – known as broad-based black economic empowerment) – has been hijacked and repurposed by individuals and factions…

The Independent UK

Truss insists national insurance cut is fair despite it benefitting high earners - OLD

The Tory leadership hopeful said ‘growing the economy benefits everybody’.

Chronicle Live

Liz Truss promises 'immediate action' on energy bills if she wins bid to be Prime Minister

The Government has been urged to intervene to support the most vulnerable, with energy bills set to rise to around £3,500 this winter for the average household

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