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The Latest Breaking News from Economy

Liz Truss: Who is the foreign secretary hoping to become Tory leader?

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

Kenya's election promises: an economist's perspective

Kenya has four presidential candidates in the August 2022 general election. They recently launched their manifestos and one thing ties them together: the economy.

The Conversation

Thailand to offer land ownership to lure wealthy foreigners

Thailand will allow wealthy foreigners to fully own land for residential use, government spokesman Thanakorn Wangboonkongchana said on Friday, seeking to boost its economy by attracting a million new big-spending residents from overseas.

Bangkok Post

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Editorial: The political price: Biden, inflation and the coming election

Inflation this high is very bad for Americans, and especially the Americans who have to pinch pennies to feed their families, write the rent check and fill their gas tanks. And while it’s axiomatic that the economy a president oversees is the economy for which he’s held accountable, it’s also…

Tribune News Service

Chidambaram says Nirmala Sitharaman should appoint chief economic astrologer, BJP calls it ‘obnoxious’ comment

NEW DELHI: Under attack from its rivals over the economy, the BJP has launched a counter-offensive in order to defend the Narendra Modi government at the Centre.

The Times of India

Europe 'shot itself in the lungs' with sanctions on Russia, Orban says

The European Union has "shot itself in the lungs" with ill-considered economic sanctions on Russia, which, unless rolled back, risk destroying the European economy, Hungarian Prime Minister Viktor Orban said on Friday.

Reuters

Company insolvencies jump 40% in England and Wales; China’s growth slumps – as it happened

Pandemic and economic uncertainty caused by Brexit have added to pressures on businesses, insolvency expert says

The Guardian - UK

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Asian shares mixed after China says growth weakened in 2Q

Asian share prices are mixed after China reported its economy contracted by 2.6% in the last quarter as virus shutdowns kept businesses closed and people at home

The Independent UK

China's economic growth slows following COVID lockdowns

China's economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities shut down to fight coronavirus outbreaks.

WEKU

Couple challenge Vic vaccinated economy

A Victorian couple say the state's vaccinated economy is "fanciful" and violates their constitutional freedom as they mount a legal challenge to the mandate.

AAP

China’s economic growth slumps sharply after Covid lockdowns

Shutdown of cities takes its toll, while property market remains in crisis and global outlook darkens

The Guardian - AU

China's economy grows at slowest pace since 2020 as lockdowns bite

Efforts to quash COVID infections brought factory production and consumer spending to a crawl.

Axios

China’s economy slows sharply, fanning global recession fears

Second quarter expansion of 0.4 percent is the weakest performance since the initial coronavirus outbreak in Wuhan.

Al Jazeera

China's economy shrinks during virus shutdown,

China’s economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities were shut down to fight coronavirus outbreaks, but the government said a “stable recovery” is under way

The Independent UK

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StockNews.com

Is the Fed Engineering a Recession to Crush Inflation?

The S&P 500 (SPY) declined more following the June CPI report which showed that inflation was worse than expected at 9.1% vs 8.8%. As a result, the odds of a 100 basis point hike at the July meeting and a 75 basis point hike at the September meeting increased. Ironically,…

Bangkok Post

The unmatched legacy left by Shinzo Abe

The assassination of former Japanese prime minister Shinzo Abe is as sad as it is shocking. For Japanese of my generation, the tragedy calls to mind US President John F Kennedy's assassination in 1963 and the attempted assassination of Abe's grandfather, Japanese Prime Minister Nobusuke Kishi, who was stabbed in…

The Conversation

6 ways governments drive innovation – and how they can help post-pandemic resilience

The COVID-19 pandemic has had an enormous impact on the global economy, with the total cost likely to exceed US$12.5 trillion dollars according to International Monetary Fund estimates.

The Hindu

Is protectionism compatible with liberalisation?

There needs to be serious participation by the market forces together with the government

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The Guardian - UK

JP Morgan Chase sets aside funds to cover feared loan losses

Largest US bank saw net income fall 28% from April to June and is concerned about economy and geopolitical tensions

France 24

Italy's president refuses Prime Minister Draghi's resignation

Italy’s President Sergio Mattarella on Thursday refused to accept Prime Minister Mario Draghi’s resignation, in a political crisis experts warned could send the eurozone’s third largest economy to snap elections.

The Times of India

Momentum in economy holding up better than expected: Finance ministry report

NEW DELHI: India’s macro risks have receded in the last six weeks due to the steps taken by the Centre and the Reserve Bank of India (RBI) and the decline in oil prices due to global recession fears, the finance ministry said in a report on Thursday, asserting that the…

The Hindu

Fiscal deficit reined in, CAD a concern: Finance Ministry

“Inflation, trade deficit are key challenges”

The Independent UK

Fed board member opens door to 1-point hike if demand rises

Christopher Waller, a member of the Federal Reserve’s Board of Governors, said Thursday that he would be open to supporting a huge 1 percentage point increase in the Fed’s key short-term interest rate later this month if upcoming economic data points to robust consumer spending

StockNews.com

4 Penny Stocks to Target Following the Latest Jobs Report

June inflation rose at the fastest pace since November 1981. However, the latest job report presented a healthy picture of the economy. Thus, we think penny stocks Annexon (ANNX), Aprea Therapeutics (APRE), Yatsen (YSG), and Endo International (ENDP), which have been outperforming the market over the past month, could be…

Birmingham Post

"Tough times" to continue in UK economy, Bank of England deputy governor warns

Sir Dave Ramsden was speaking on a visit to Newcastle where he said it was the Bank's main priority to bring inflation down to 2%

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