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The Latest Breaking News from Economy

EU growth forecast cut as war in Ukraine fuels inflation

European Commission downgrades growth prospects from 4% to 2.7%, while economy slows rapidly in China

The Guardian - UK

Paris Perspective #29: Sanctions, oil and the Iranian experience - Ardavan Amir Aslani

Paris Perspective looks at what Iran's history of Western sanctions can tell us about similar meaures against Moscow, and whether embargos on Russian oil and gas can ever succeed in ending President Vladimir Putin's war in Ukraine.

Radio France Internationale

Bad Policy Creates Inflation and Opens the Door to Even Worse Ideas

When politicians break the economy, they hurt us in the short term but also create future opportunities to do harm in the name of undoing the damage they inflicted.

Reason

From analysis to the latest developments in health,
read the most diverse news in one place.

Don’t risk a trade war with Europe, top Tories tell Boris

Johnson says NI protocol ‘can be fixed’ as Stormont parties describe ‘robust’ meetings in crisis talks in Belfast

Evening Standard

BJP works to create divide, Congress to connect with all: Rahul Gandhi

Says Narendra Modi is destroying the country’s economy

The Hindu

China's economy takes a hit from Covid-19 lockdowns

New data shows China's economy cooled sharply in April, as many cities including Shanghai suffered Covid-19 lockdowns. Industrial output dropped nearly 3 percent compared to a year before, while retail sales slumped 11 percent. Meanwhile, global wheat prices jump after India announces a ban on exporting the grain due to…

France 24

It's the year 2000 all over again in the economy and financial markets

That has big implications for recession risk as markets nosedive

Axios

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BJP govt has ruined country's economy, says Rahul Gandhi

Congress leader Rahul Gandhi on Monday accused Prime Minister Narendra Modi of destroying the country's economy, which was "strengthened" by the former UPA government. Read more on Dynamite News:

Dynamite News

Onshore wind contributes £106m in rates to Scotland’s economy

Scottish Renewables analysis suggests that payments were highest in the Highland Council area

Insider UK

Shanghai targets June COVID lockdown exit as China economy slumps

Shanghai set out plans on Monday for the end of a painful COVID-19 lockdown that has lasted more than six weeks, heavily bruising China's economy, and for the return of more normal life from June 1.

Reuters

'Tough decisions' ahead as Welsh Government puts money into scheme amid claims EU cash not replaced

Economy Minister, Vaughan Gething said the Government is stepping in to fund the expansion of the Communities for Work Plus (CfW+) employability programme.

Birmingham Post

Wind farms boosting Scottish economy with millions in tax

GREEN energy bosses have highlighted the contribution onshore wind farms make to Scotland’s economy – with such sites paying more than £100…

The National (Scotland)

China’s economy slows sharply as ‘zero COVID’ pummels activity

Lockdowns in dozens of Chinese cities drag consumption and industrial production to lowest levels since early 2020.

Al Jazeera

China's economy slumps from COVID-19 lockdowns, ASX rises as Brambles considers $20b takeover bid

Australian shares closed higher after a mixed day of trading, after China revealed that its economy had suffered a worse-than-expected slump in April as a result of its widening COVID-19 lockdowns.

ABC News

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The Independent UK

Onshore wind contributes £106m in rates to Scotland’s economy, industry says

Scottish Renewables said the figure shows the benefits of wind farms are not just environmental.

Bangkok Post

Beware a global economy with many little fires

Big shocks to the global economy, such as Russia's invasion of Ukraine, understandably capture the most attention. But a new worldwide pattern of "little fires everywhere" may be equally consequential for longer-term economic well-being. Over time, these small fires can coalesce into one that is just as threatening as the…

The Conversation

Humans have big plans for mining in space – but there are many things holding us back

Like Earth, planetary bodies such as the Moon, Mars, asteroids and comets contain substantial deposits of valuable resources. This has caught the attention of both researchers and industry, with hopes of one day mining them to support a space economy.

ABC News

Australia's insolvency drought might end with an unwanted flood

As the pandemic roared in during early 2020, rapid and astonishing shifts were made to prop up an economy sledgehammered by lockdowns, restrictions and fear.

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Newsroom.co.nz

Chinese techno-nationalism more than mere propaganda

After decades of lagging behind, China’s technological innovation competes on the world stage. It has helped define what Chinese nationalism looks like today, writes Jun Zhang.

The Guardian - UK

China’s struggles delight some – but should make us all nervous

Covid has amplified the threats that accompany the country’s role as an economic superpower

Tribune News Service

Biden’s midterm hopes bedeviled by signs of economy in distress

President Joe Biden’s hopes for a political reset have been overwhelmed by an unrelenting series of economic setbacks, adding to the challenges Democrats face as they court exhausted voters ahead of the crucial midterm election in November.

Asharq Al-Awsat

PIF Launches Saudi Coffee Company to Further Enable Kingdom’s Food and Agriculture Sector

The Public Investment Fund (PIF) announced on Sunday the launch of the Saudi Coffee Company. The company has been established to enable Saudi Arabia’s coffee bean to be a global product in the future, and will play a vital role in developing sustainable coffee production in the southern Jazan region,…

The Times of India

Cryptos can lead to dollarisation of economy: RBI officials to parliamentary panel

NEW DELHI: Cryptocurrencies can lead to "dollarisation" of a part of the economy which would be against India's sovereign interest, top officials of the RBI have told a parliamentary panel, according to sources.

Tribune News Service

Midwest at greater risk for rolling blackouts

MINNEAPOLIS — Electricity demand on the Midwest's grid is expected to be strong this summer, with hot weather and a growing economy sucking plenty of juice.

The Guardian - AU

Factcheck: Scott Morrison says Australia is a world leader in Covid recovery. Is he right?

It wasn’t a race, the prime minister famously said, yet now he’s claiming the win. Here’s how the numbers –on jobs, vaccines and the economy – really stack up

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