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The Latest Breaking News from Economy

UK will face worse inflation than other major economies, says Bank governor

Andrew Bailey said inflation would persist for longer than previously expected as petrol prices soar

The Guardian - UK

Economic View Of The Australian Dollar

As fears that a recession is just around the corner for the US, some economists are warning that Australia could follow suit. Some, however, remain bullish on the Australian economy due to high household savings, strong commodity exports, accommodative government stimulus and a robust pipeline of residential building constructions.

Benzinga

Women on TikTok plan purchasing boycott in protest of Roe v Wade reversal: ‘No buy July’

‘Biggest protest is disrupting the economy’

The Independent UK

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As US Economy Weathers Inflation, GDP Growth Turns Negative: Are We Headed For A Recession?

For the first time since the start of the COVID-19 pandemic in 2020, the Bureau of Economic Analysis has reported a decrease in real gross domestic product –— GDP.

Benzinga

Most say nation on wrong track, including Dems: AP-NORC poll

A new poll shows an overwhelming and growing majority of Americans say the U.S. is heading in the wrong direction, including nearly 8 in 10 Democrats

The Independent UK

Crypto crisis: how digital currencies went from boom to collapse

Savers talk of devastating losses as assets such as bitcoin and ‘stablecoins’ like terra fell sharply

The Guardian - UK

Powell: 'No guarantee' Fed can tame inflation, spare jobs

Federal Reserve Chair Jerome Powell said there’s “no guarantee″ the central bank can tame runaway inflation without hurting the job market

The Independent UK

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Sudan’s economy dominated by military interests: Report

C4ADS report says crackdown on patronage networks was a contributing factor to last October’s coup.

Al Jazeera

Xi is finally leaving mainland China after 893 days at home

President Xi Jinping is set to finally leave mainland China after 893 days at home, even as he still trumpets a COVID zero policy that has isolated the world’s No. 2 economy diplomatically amid rising geopolitical tensions.

Tribune News Service

Analysis-Tunisia's Saied poised for more power but economy crumbles

President Kais Saied looks on course to tighten his grip on Tunisia through a constitutional referendum in July, but it could prove to be a poisoned chalice as the economy sinks deeper into crisis and opposition to his rule widens.

Reuters

Why U.S. Stocks Are Trading Higher, GDP Report And More

U.S. stocks traded higher this morning, with the Dow Jones gaining around 180 points on Wednesday.

Benzinga

Reform needed for towns and small cities to benefit from full 5G – new research

The report warns that the difference between an attractive and an unattractive investment environment is worth £7bn per year to the UK economy by 2030

Wales Online

US economy slipped 1.6% to start year; return to growth eyed

The U.S. economy shrank at a 1.6% annual pace in the first three months of the year even though consumers and businesses kept spending at a healthy pace, the government reported Wednesday in a slight downgrade from its previous estimate for January-March quarter

The Independent UK

Discounts coming: We have too much stuff

Wholesale and retail stockpiles continue to mount just as demand seems to be slowing.

Axios

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The Japan News/Yomiuri

Power saving urged again to avert crunch

The Economy, Trade and Industry Ministry on Wednesday maintained its power crunch warning for the area served by Tokyo Electric Power Company Holdings, Inc., and decided to continue it Thursday.

Reuters

Chile's new leftist president gets reality check as support wanes

The optimism engulfing Chile's leftist President Gabriel Boric as he took power in March has dimmed as inflation, social unrest and political missteps dent his popularity and fuel doubts about a push to steer the economy away from market-friendly policies.

WEKU

Job cuts are rolling in. Here's who is feeling the most pain so far

Tesla, JPMorgan, Netflix, Redfin and Coinbase are among companies that are cutting jobs. While layoffs are contained to the hottest parts of the economy, there's fear they could spread elsewhere.

The Independent UK

Air New Zealand is launching bunk beds for economy passengers

Airline’s new and re-fitted planes will have six Skynest ‘sleep pods’ to book

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The Conversation

What's driving Uber's historic agreement with the TWU on gig work

Uber Australia has struck a historic agreement with the Transport Workers’ Union – a statement of principles that re-regulate work in the Australian rideshare and food delivery industry.

Bangkok Post

Tourist rush bolsters outlook for economy, baht

Foreign tourist arrivals into Thailand are set to beat official forecasts with the lifting of pandemic-era restrictions, a rare positive for the nation’s Covid-battered economy and currency.

The Independent UK

Gas lines and scuffles: Sri Lanka faces humanitarian crisis

Sri Lanka’s economy, which a few years ago enjoyed strong growth that provided jobs and financial security, is now in a state of collapse, dependent on aid from India and other countries as its leaders desperately try to negotiate a bailout with the International Monetary Fund

The Hindu

Getting Sri Lanka out of the economic mess

As the crisis in Sri Lanka gets more acute, its government and central bank need to take difficult but necessary steps to turn things around.

The Guardian - AU

Air New Zealand to install world-first economy bunk beds on long-haul flights

By 2024, passengers will be able to book four-hour sessions in flat sleeping pods on ultra-long-haul routes

Wales Online

More than two-thirds of businesses facing skills shortage, survey shows

Firms are seeing trading hit or growth stalled because of a lack of trained employees that is acting as a drag on the economy

ABC News

Landmark gig worker protection agreement struck between Uber and Transport Workers' Union

The landmark agreement comes after a family was this week awarded $830,000 as compensation after their son was killed while working as a food delivery driver in Sydney.

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