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The Latest Breaking News from Economy

South Africa's economy has taken some heavy body blows: can it recover?

Economists are growing increasingly concerned about South Africa’s economy. This is because the country’s three major macroeconomic problems – lacklustre economic growth, growing inflation and very high unemployment – have been exacerbated by a series of major disruptions.

The Conversation

Downtown Seattle considers a future with lots of tourists and few office workers

Like many small businesses in downtown Seattle, the Pure Food Fish Market has had to adjust to an economy that's still missing some of its pre-COVID-19 players.

Tribune News Service

Market Wrap: Economic ‘hurricane’ warning as Russian oil ban brings volatility to markets

Investors warned to prepare for an economic "hurricane" caused by aggressive central bank tightening and the war in Ukraine.

The New Daily

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US pump prices hit record as OPEC+ producers gather

The OPEC oil cartel and allied countries including major exporter Russia are weighing how much oil to send to the world economy as U.S. gas prices hit another record high

The Independent UK

Delta, United Airlines Positive On Post-Pandemic Spending: Reuters

Delta Air Lines Inc (NYSE:DAL) and United Airlines Holdings Inc (NASDAQ:UAL) downplayed the prospect of a U.S. economic recession, saying a shift in consumer spending from goods to services would keep their businesses afloat, reported Reuters. Delta Airlines lifted its June quarter's revenue guidance but on a lower capacity than planned. Related: Why Delta Air Lines…

Benzinga

China's economy faces obstacles despite end of Shanghai lockdown

SHANGHAI -- The lockdown imposed on Shanghai has been lifted after two months, but there is little likelihood of economic activity returning to normal in the immediate future. Although the administration of Chinese President Xi Jinping is scrambling to deal with the aftermath of an approach that prioritized "zero-COVID" policies…

The Japan News/Yomiuri

Scottish GDP rises by 1% during first quarter

Economic growth driven by increased outputs in the construction and services sectors

Insider UK

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Time is running out for Russia, German economy minister says

Germany must work harder to reduce its energy-dependence on Russia but Western sanctions in response to Moscow's invasion of Ukraine are still taking a heavy toll on the Russian war machine, German Economy Minister Robert Habeck said on Thursday.

Reuters

Russian President Vladimir Putin thinks his biggest ally in Ukraine war is time

As Russia’s invasion of Ukraine settles into a grinding war of attrition, one question more than any other will likely decide the outcome: On whose side is time?

The Times of India

Caixin New Economy Index Drops on Shrinking Capital Investment

The share of 10 high value-added industries in China’s total economic inputs came in at 28.5% in May, slightly lower than the reading in April

Caixin Global

Lanarkshire MSP welcomes Scottish Government circular economy consultation

The measures are designed to significantly increase reuse and recycling rates.

Daily Record

Five Ways Russia's Ukraine Invasion Upended World Order

The 100 days since Russia launched its invasion of Ukraine have seen Europe destabilized, the global economy weakened, and the world order turned upside down. But Russian President Vladimir Putin remains in power and despite the battering of the Russian economy and failures of the military campaign shows no sign…

Asharq Al-Awsat

SA state budget spends big on health, while Treasurer warns 'budget repair' is needed

South Australia's new Labor government is predicting a recovering national economy and booming property market will help it deliver key election promises in health and education, without driving up debt, taxes or cutting hard into the public sector.

ABC News

South Korea's ruling party cements presidential win with local vote success

South Korean President Yoon Suk-yeol's ruling party emerged victorious in local elections, vote counts showed on Thursday, giving a boost to him and his plan to steer the economy into recovery after the COVID-19 pandemic.

Reuters

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Birmingham Post

Queen's Birthday Honours - McDonald's franchisee, apprentice champion and ITV stalwart among recipients

Trio of West Midlands business figures have been included in the annual list in recognition of their contribution to the economy, charity, education and journalism

Birmingham Post

Fragrance Shop and Iceland bosses among business leaders on Queen's Birthday Honours list for Platinum Jubilee

Liverpool events chief and East Lancashire Chamber CEO also honoured

Bangkok Post

In the end, economic theories prevail

I have made several dire predictions for the Thai economy this year such as high inflation, a liquidity crisis, interest rate hikes, bank collapses, a currency run, and, of course, an economic recession.

The Hindu

Choppy waters: On India’s post-COVID recovery

The economy’s post-COVID recovery is far from complete; spurring consumption is the key

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The National (Scotland)

Brexit 'still hammering' UK food and drinks exports, report shows

BREXIT is hammering the economy “at the worst possible time”, the SNP have said in response to figures revealing a significant drop in food…

The Guardian - AU

Australian businesses benefited from rising prices. Workers? Not so much

Strong GDP figures and growth is disguising what’s really happening: a shift to an economy where workers get less and less of their fair share

WEKU

Short-term profits and long-term consequences — did Jack Welch break capitalism?

The General Electric CEO wowed investors and mingled with celebrities. But New York Times correspondent David Gelles says Welch's aggressive tactics also caused irreparable harm to American industry.

Birmingham Post

Industry 4.0 focus for Humber Business Week from LEP team

Work to embrace digital economy and development website launch are highlights

The Guardian - UK

Boss of devastated Azovstal plant: ‘Steel is as key to Ukraine’s victory as soldiers’

Yuriy Ryzhenkov’s Mariupol steelworks has been stopped, but his company is leading Kyiv’s economic war against Russia

The Conversation

Zimbabwe's 2023 elections: how to judge candidates' social protection promises

Zimbabwe is heading for general polls in 2023 amid an ongoing macroeconomic crisis. In the decade starting from 2001, the state-led economy started to show signs of strain. Unemployment reached 85%. Inflation, which was a staggering 79,000,000% in 2008, came down but has been rising in the past two years.…

Benzinga

Tencent Stops Assuring Pay Hike On Promotion As Part Of Its Cost Cutting Measure

Tencent Holding Ltd (OTC:TCEHY) stopped guaranteeing a pay raise upon promotion amid a more comprehensive cost-cutting drive, Reuters reports. However, Tencent assured an annual salary review to consider an individual's contribution and performance. The policy change reflects the changing circumstances of China's technology giants, hit hard by a bruising regulatory crackdown and a slowing…

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