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The Latest Breaking News from Economy

It’s taken a leadership race for the Tories to fess up: they’ve wrecked the economy

Don’t take my word for it that they are the low-growth party? Just ask Liz Truss and Tom Tugendhat, says the Guardian columnist Owen Jones

The Guardian - UK

Does Labour have the guts to act on climate?

The Government's decision to extend fossil fuel subsidies for a further five months raises red flags for the hard but necessary transition to a low-carbon economy.

Newsroom.co.nz

Sri Lanka's Wickremesinghe says Rajapaksa government covered up facts - CNN

Sri Lanka's acting President Ranil Wickremesinghe has told broadcaster CNN that Gotabaya Rajapaksa's government was "covering up facts", while adding that he aimed to stabilize the island nation's devastated economy by the end of 2023.

Reuters

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Estonian PM regains ruling majority, warns of tough times ahead

The new cabinet of Estonian Prime Minister Kaja Kallas was sworn in on Monday, re-establishing political stability, but she warned of tough times ahead for the economy as energy costs soar and inflation rages in the fall-out from the war in Ukraine.

Reuters

View from The Hill: Chalmers warns he'll deliver bad news in parliament's first week

The first week of the new parliament will contain some depressing news, with Treasurer Jim Chalmers on Monday softening up the community to expect a “confronting” statement on the economy.

The Conversation

The Conservative leadership candidates Nottinghamshire MPs are backing

Who's backing who?

Nottingham Post

‘A weird dinging sound that everyone dreads’: What rapid deliveries mean for workers

'You’re not a person when you walk in the door, you’re a machine': Inside the supermarkets that offer on-demand home delivery.

The New Daily

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Conservative leadership race: London MPs make their pitch for favourite to be next PM

Rishi Sunak and Liz Truss stepped up their battle over taxes on Monday as the five contenders to be the next Prime Minister unveiled their vision for London.

Evening Standard

Higher inflation won’t hurt T.N.’s economy: Palanivel Thiaga Rajan

Finance Minister says Tamil Nadu will hit its growth targets

The Hindu

The AP Interview: GM's Barra stands by ambitious EV pledge

The economy is a bit wobbly, but General Motors CEO Mary Barra isn’t backing off of an audacious prediction: She pledges that by the middle of this decade, her company will sell more electric vehicles in the U.S. than Tesla, the global sales leader

The Independent UK

Interest rates could hit 2% or higher in the next year, says Bank policymaker

Outgoing Monetary Policy Committee member Michael Saunders said increases ‘still have some way to go’ in order to get inflation under control.

The Independent UK

Liz Truss: Who is the foreign secretary hoping to become Prime Minister?

Social media savvy ‘human hand grenade’ seen as continuity candidate and faces uphill battle to displace favourites Rishi Sunak and Penny Mordaunt

The Independent UK

Economics of War: Pain for Europe Now, Later for Russia

Across Europe, signs of distress are multiplying as Russia’s war in Ukraine drags on. Food banks in Italy are feeding more people. German officials are turning down the air conditioning as they prepare plans to ration natural gas and restart coal plants. A giant utility is asking for a taxpayer…

Asharq Al-Awsat

Economics of war: Pain for Europe now, later for Russia

Europe is feeling the pain from Russia's war in Ukraine

The Independent UK

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The Guardian - AU

China banks told to bail out property developers as mortgage boycotts threaten economy

Regulator’s intervention comes as thousands of homebuyers refuse to make mortgage repayments as crisis in property sector deepens

The Conversation

A heated steering wheel for $20 a month? What's driving the subscriptions economy

From gym memberships to music and movies, to razors, toilet paper, meal kits and clothes, there’s seemingly no place the subscription economy can’t go.

The Conversation

'A weird dinging sound that everyone dreads': what rapid deliveries mean for supermarket workers

Online grocery shopping has boomed since the pandemic began in 2020, with Woolworths and Coles steadily expanding their home-delivery offerings. Rapid delivery is the latest frontier.

Foreign Affairs

A Shock-Proof Energy Economy

Taming Volatile Oil Markets Requires a New Kind of Government Intervention

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Bangkok Post

Dark clouds on the horizon

The drumbeat warning of recession is getting louder and more frequent, based on reports from the US and other major economies.

Bangkok Post

Japan's crucial moments after Abe murder

It was a bullet that some people said would change Japan forever, and it certainly had people outside taking a closer look at the world's third largest economy. For me, hearing the news that Shinzo Abe had been shot on July 8 was a shock similar to the events of…

The Guardian - UK

The Guardian view on Tory economics: for haves, not for have-nots

Editorial: Whoever is the next prime minister will likely resurrect a form of capitalism that almost broke the economy in 2008

AAP

Aust economy to slow: Deloitte

The country's economy will chart a "middle ground" between recovering from the pandemic and continued uncertainty and rising interest rates and inflation.

Edinburgh Live

The shocking history of Edinburgh's Sheriffhall mines that one worker never returned from

Owned by the Dukes of Buccleuch, at the end of the 18th century, one of the city's largest mines laid beneath the roundabout, that was a huge contributor to Edinburgh's economy in the 1800s

The Guardian - UK

Why a 2020s rerun of the Roaring Twenties remains wishful thinking

The 1920s also began dismally. But for a fourth industrial revolution to happen, much more has to be done

The Conversation

Ghana’s return to the IMF within three years underscores its deeper economic problems

Ghana is again seeking assistance from the International Monetary Fund (IMF) to enable the country to meet its payments to the rest of the world and restore the health of government finances. It is the second time in the past three years and 17th since independence in 1957 that Ghana…

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