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The Latest Breaking News from Economy

The Week Ahead: Another step toward the economy standing on its own

The Federal Reserve will be one step closer in the week ahead to ending its current cycle of raising interest rates.

Miami Herald

Boris Johnson wants tax cuts – but can he deliver them in time?

PM must act quickly as economy and household finances worsen, but Treasury is not sympathetic

The Guardian - UK

How the pandemic and the economy have turned the car market on its head

The lot at the new Hello Mazda of San Diego dealership in the city's Kearny Mesa neighborhood is a microcosm of all the unpredictable things that have upended the car market.

Tribune News Service

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June Fed meeting preview: Brace for fastest rate hikes since 1994 to battle too-high inflation

Economists like to say interest rates take the elevator down and the staircase back up. The metaphor highlights just how swiftly the Federal Reserve slashes borrowing costs during economic crises — and how gradually the Fed lifts rates when the economy is healing.

Tribune News Service

Parkdean Resorts halts potential £1.6bn sale amid concerns for UK economy

The auction talks for the Newcastle holiday park operator were launched last year as UK staycations boomed

Birmingham Post

Eurozone interest rates to rise for first time in a decade

The European Central Bank (ECB) will raise interest rates next month for the first time in 11 years in a bid to control soaring inflation, ending a stimulus scheme to support the economy during the Covid-19 pandemic.

Radio France Internationale

Japan starts visa process for restart of tourism as Covid worries wane

HONG KONG: Japan on Friday resumed visa procedures to accept foreign tourists, taking the first step toward increasing inbound tourism to help turn around its economy as worries about the Covid-19 pandemic wane.

Bangkok Post

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Fear Of Recession Is Creating A Recession: Apple Analyst Puts Out Theory

The economy has given enough reasons for investors to fret. With higher inflation and slower growth portending further trouble ahead, noted Apple, Inc. (NASDAQ: AAPL) analyst Gene Munster delved into how the economic picture will shape up in the near term.

Benzinga

‘Real estate may see huge investments’

Market experts have reacted to the RBI repo rate revision.

The Hindu

Market slide as US inflation hits 8.6%; UK families cut back on food – as it happened

Rolling coverage of the latest economic and financial news, as US consumer prices rise at their fastest pace since 1981

The Guardian - UK

China's Xi backs zero-COVID policy as Shanghai expands mass testing

President Xi Jinping said China must stick "unswervingly" to its zero-Covid strategy, as more than half of Shanghai's 25 million lockdown-weary residents gird Friday for a weekend virus testing drive. China is the last major economy still pursuing a policy of stamping out all outbreaks, wielding snap lockdowns, mass testing…

Asharq Al-Awsat

Aberdeen's green freeport bid unveiled

Proposals claim an ability to create 30,000 jobs and £7.5bn of gross value added to the local economy

Insider UK

City Council urged to create guaranteed income program for Black men

The idea is that such a program, paying $600 to $800 a month, would remove some men from the streets, thereby reducing their dependence on an illegal economy driven by the drug trade.

Chicago Sun-Times

Colorado Town Contemplates New Name: "Kush" In Effort To Stimulate Local Economy

Benzinga recently reported that cannabis tourism was a $17 billion industry. Now, Moffat, population 120, is aiming to cash in this opportunity.

Benzinga

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Daily Record

Mum shares handy trick to turn economy seats on flight into comfy bed for her kids

Adele Barbaro has anxieties about her children's comfort on a long-haul flight from Melbourne to Los Angeles.

Bangkok Post

Jobless data, not cherries

The country's latest employment rate should give the government and public a sense of relief. However it is also breeding concern about whether the data is being cherry-picked to project an overly positive image of the state of the economy.

Irish Mirror

Mum shares genius flight hack to turn economy seats into a giant bed on long-haul trips

A number of airlines now offer 'Sky Couches' which allow families to turn economy seats into flat beds for around €120. The convertible seats are a lifesaver for parents on long-haul flights

Tribune News Service

Despite bumps, plant-based aviation fuels maker Gevo continues its stock flight

Patrick Gruber, chief executive of Colorado-based bio-fuels producer Gevo, got an investor cold shoulder this week.

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Benzinga

Singapore Dollar Weighing Down The British Pound

The Singapore dollar has shown great strength for the past 12 months against the Great British pound, underpinned by the Singaporean economy growing 7.6% and expectations for it to continue growing the rest of this year. Adding to the strength of the Singapore dollar in recent weeks is China starting…

Daily Mirror

Mum shares little-known flight trick that turns economy seats into a comfy bed

A mum has shared a little-known way to relax on a long haul flight by transforming the seats into a giant comfy bed - and it's cheaper than upgrading to business class

Benzinga

A Decade Into Legal Cannabis, Americans See Legalization As A Net Positive For Economy And Society

A decade after Colorado and Washington became the first states to legalize cannabis for adult-use in the US, following the passage of Amendment 64 and Initiative 502, respectively, the majority of Americans believe cannabis has an overall positive impact on the creation of high-quality jobs – at both the local…

France 24

The price of war: OECD warns of slowing growth, high inflation

Russia's invasion of Ukraine is derailing the global economy's recovery from the Covid-19 pandemic. The Organisation for Economic Cooperation and Development (OECD) is the latest to slash its global GDP growth forecast for 2022, from 4.5 percent projected in December to just 3 percent in its latest outlook. Driving that…

The Independent UK

Biden's inflation crunch: Too much shopping — even at beach

President Joe Biden could have looked out the window of his limousine on his drive last weekend to his beach home and seen firsthand why he's struggled to contain inflation

Reuters

Putin says no Iron Curtain will close off Russia's economy

President Vladimir Putin said on Thursday that no Iron Curtain would fall over the Russian economy despite the sanctions imposed by the West because Moscow would not close itself off from the world like the Soviet Union did.

Benzinga

Top-Line Beat, Bottom-Line Miss, Inflationary Pressures: Hooker Furnishings' Mixed Q1 Results

Hooker Furnishings Corp (NASDAQ:HOFT) reported a first-quarter FY23 sales decline of 9.5% year-on-year to $147.3 million, beating the consensus of $145.35 million. Net sales from Hooker Branded segment decreased by 17.7% Y/Y, Home Meridian declined 26.4%, and Domestic Upholstery gained 62.2%. The gross profit rose 12.3% Y/Y to $29.5 million, and the margin…

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