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The Latest Breaking News from Economy

A poverty trend in search of an explanation

The delay in household consumption expenditure survey leaves us unsure of the studies

The Hindu

Windfall

The BCCI should use its earnings to develop infrastructure and promote women’s cricket

The Hindu

China's Resilient May Data Offers Glimmer Of Hope, But NBS Warns Of Challenges Ahead

The Chinese economy is recovering from the slowdown seen in the wake of the COVID-19 lockdowns in late-March and for much of April. A trio of data released by the China National Bureau of Statistics showed that retail sales, industrial production and fixed-asset investment, all came in better than expected.

Benzinga

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Russia rakes in nearly $20bn from oil exports in May

Rise in revenues is setback for west’s efforts to hit Russian economy in wake of Ukraine invasion

The Guardian - UK

Claustrophobic or genius? What it's like sitting in a double-decker plane seat

Designer Alejandro Núñez Vicente has created the dual-level Chaise Longue airplane cabin design in a bid to make air travel much comfier and to give economy customers more room

Daily Mirror

Paris Perspective #31: War, peace and the future of the global economy – Steve Killelea

Paris Perspective looks at the state of peace in the world in 2022 on the occasion of the publication of the 16th Global Peace Index. Steve Killelea is the founder and executive chairman of the Institute for Economics and Peace, which publishes the Index.

Radio France Internationale

Boris Johnson compared to Jabba the Hutt and told 'the force doesn't work for him anymore'

Labour's Keir Starmer pushed himself to the edge of the gag galaxy by likening the Prime Minister first to a Star Wars character and then a Love Island contestant.

Daily Record

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Boris Johnson using Jedi mind trick on country over economy, says Starmer

Labour leader says PM is spouting nonsense, telling people ‘they’ve never had it so good’, in bad-tempered PMQs

The Guardian - UK

PMQs: Keir Starmer in Love Island and Jabba The Hut jibes at Boris Johnson

Labour’s under fire leader Sir Keir Starmer compared Boris Johnson to a contestant on Love Island who was giving the public “the ick” on Wednesday as he stepped up his attacks on the Prime Minster over his handling of the economy.

Evening Standard

Analysis-Brazil likely to waive over $20 billion in tax revenue as Bolsonaro tries to spur economy

Tax cuts are likely to cost over 110 billion reais ($21.5 billion) in Brazilian tax revenue this year, as President Jair Bolsonaro tries to ease inflation and spur the economy in an election year despite economists' warnings of blowback in 2023.

Reuters

Starmer: Love Island-style PM could be booted out for giving voters the ‘ick’

The Labour leader also compared Boris Johnson to the Star Wars gangster Jabba the Hutt.

The Independent UK

Over 100 CEOs Including Alphabet, Amazon, Microsoft Press For China Competition Bill

A broad coalition of 123 CEOs and senior executives representing major sectors of the American economy and millions of U.S. workers urged Congress to pass legislation to amplify U.S. economic competitiveness, including in chip manufacturing. The Semiconductor Industry Association (SIA), which organized the letter signing, claimed it was the largest group…

Benzinga

‘Jabba the Hutt’ Johnson attempting to play ‘Jedi mind-tricks’ on country, Starmer says

‘The problem is, the force just isn’t with him anymore,’ Labour leader says

The Independent UK

Keir Starmer quotes Love Island and Star Wars in PMQs attack on 'deluded' Boris Johnson

Bruised by criticism over last week's lacklustre PMQs performance - and negative briefings that colleagues think he's boring - Keir Starmer came out fighting

Daily Mirror

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The Conversation

The last two recessions hit young people hardest – here's how you can protect yourself for the next one

After the pandemic and now a cost of living crisis, it seems unthinkable that the economic situation could get worse. But experts are pretty certain that the UK economy will flatline in 2023, and some are even murmuring that a recession could happen this year.

Birmingham Post

Wales falling more than 20 years behind London in race for highly skilled jobs

The Welsh jobs market will continue to face labour shortages if corrective action isn't taken on higher level skills

Glasgow Live

Glasgow night buses back from this weekend 'to help boost night-time economy'

The network, consisting of 11 routes, will return this Friday, covering travel from the city centre across Glasgow and the surrounding areas including Clydebank, Paisley and Motherwell.

Asharq Al-Awsat

UAE to Suspend Exports of Indian Wheat for Four Months

The United Arab Emirates (UAE) has ordered a four-month suspension in exports and re-exports of wheat and wheat flour originating from India, the world's second biggest producer of the grain, state news agency WAM said on Wednesday. The Gulf nation's economy ministry cited interruptions to global trade flows as the…

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Bangkok Post

Govt at odds with Bank of Thailand over raising rates

Government leaders are publicly making a case for keeping interest rates lower for longer, a call that is putting them at odds with the nation’s monetary policy makers who are keen to raise borrowing costs sooner to keep inflation from overheating.

The Guardian - UK

ECB to devise new tool to help indebted countries as markets await Fed rate rise – as it happened

Investors wait to see how aggressive US Federal Reserve will be in raising rates; Italian bond yields tumble, euro and stocks rise as ECB holds surprise meeting

Bangkok Post

Singapore home sales hit six-month high

Singapore home sales hit a six-month high, signalling that government-imposed property curbs are having a dwindling impact as the city-state’s rebounding economy fuels demand for housing.

The Guardian - AU

Stagflation: what is it and is it really happening in Australia?

Australians are feeling the pinch from rising inflation, but experts are divided on whether the 1970s economic phenomenon is back

Bangkok Post

Tourism key to recovery

Tourism will be the key engine supporting Thailand's economic recovery, replacing the slowing export sector, says the Economic Intelligence Center (EIC), a research house under Siam Commercial Bank.

The Philadelphia Inquirer

Biden acknowledges 'our work isn't done' on the economy as he talks to labor leaders in Philadelphia

President Joe Biden acknowledged the economic pains Americans are feeling while pointing to progress he said his administration has made to build an economy around working people in an address to labor leaders in Philadelphia on Tuesday.

The Conversation

5 things to know about the Fed's biggest interest rate increase since 1994 and how it will affect you

The Federal Reserve on June 15, 2022, lifted interest rates by 0.75 percentage point, the third hike this year and the largest since 1994. The move is aimed at countering the fastest pace of inflation in over 40 years.

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People

Supattanapong Punmeechaow

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Sethaput Suthiwartnarueput

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Jabba Hutt

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