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The Latest Breaking News from Economy

GDP is a seriously flawed indicator of human wellbeing. We have been conditioned to mistake dollar value for things that really matter, argues Jack Santa Barbara

Newsroom.co.nz

2022 Subaru BRZ Review: A Sharper Tool

Now with 228 horsepower and standard Apple CarPlay, the BRZ has more appeal than ever.

Motor1

Russian gas crisis: 5 things to know about Europe’s supply

Russia is cutting gas supplies to Poland and Bulgaria, and is threatening to cut off other countries in Europe.

Al Jazeera

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GDP likely to show ‘misleading’ US weakness as Fed plots path

The U.S. economy’s latest report card — featuring fresh readouts on growth, inflation, spending and wages in the first three months of the year — is set to include a mix of good and bad marks.

Tribune News Service

IMF sees bumper year for Arab oil producers, risk for others

The world’s economy is forecast to grow around 3.6% this year, but Arab oil exporters are seeing a windfall from high energy prices that will buoy their economies and replenish their financial reserves this year and next

The Independent UK

EXPLAINER: What's behind Russia's natural gas cutoff?

Russia's playing hardball on natural gas

The Independent UK

3 Stocks to Avoid as the Fed Hikes Rates in a Slowing Economy

Despite a seemingly weakening economy, the Fed has indicated that its forthcoming interest rate increases will be aggressive. Although interest rate hikes bode well for financial companies, fast-paced and aggressive rate increases pose the risk of an economic slowdown. Therefore, we think it could be wise to avoid Wells Fargo…

StockNews.com

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Wall Street Banks Slash Chinese Companies' Profit Forecasts - Read Why

Some Wall Street banks slashed their profit estimates for Chinese companies, citing the recent Covid resurgence and subsequent lockdowns, Bloomberg reports. China's Covid Zero policy has dealt a heavy blow to the economy, as stringent restrictions pressure supply chains and chill consumption. A week-long lockdown that shut down much of Shanghai…

Benzinga

Physics sector worth over £7bn to Welsh economy

The economic impact is now more than the construction, transport and retail sectors combined

Birmingham Post

UAE-India airfares soar ahead of Eid holidays

The fare for the Air India Express in Abu Dhabi- Kozhikode non-stop flight is Rs 33,400 while for Air India in the same sector is Rs 40, 200.

The Hindu

Lloyds Bank warning on economy as it tells customers “seek help”

BRITAIN’S biggest bank today issued stark warnings about what could happen to the economy if inflation takes grip and told customers in trouble to seek help sooner rather than later.

Evening Standard

Lloyds sees signs of customer belt-tightening as cost-of-living crisis bites

The lending giant as seen 1.2 million subscriptions contracts cancelled over the past six months, with customers spending more on energy and food as i

The Independent UK

Lloyds says customers cutting back on streaming and gyms as inflation bites

Bank warns of more loan defaults amid cost of living crisis as it reports 14% fall in first-quarter pre-tax profit

The Guardian - UK

Lebanon vote holds little hope for change despite disasters

On May 15, Lebanese vote in national parliamentary elections, the first since their country's economy took a nosedive

The Independent UK

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Asharq Al-Awsat

Dbeibah Kicks off Visit to Tunisia amid Dispute over His Govt's Legitimacy

Head of Libya’s Government of National Unity (GNU) Abdulhamid al-Dbeibah arrived in Tunisia on Tuesday for a one-week official visit amid a dispute back home over the legitimacy of his government. Dbeibah is leading a high-level delegation that includes chief of staff of western Libya forces Mohamed Haddad, Interior Minister…

The Independent UK

Long Covid and health problems during pandemic cost UK economy £8bn and 400,000 workers, report says

Government urged to overhaul approach to public health after research reveals country has lost 400,000 workers to ill health

The Guardian - UK

UK will lose £8bn from Covid-induced decline in size of workforce

Illness, mental health problems and NHS disruption have led to 400,000 workers vanishing, says thinktank

Bristol Post

Bristol Beacon valued at zero pounds in city council accounts despite £107m revamp

Local authority insists cultural venue's true value goes “well beyond the bricks and mortar”

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StockNews.com

How Higher Rates Could Continue to Negatively Impact the Market

Last week, we noted that the S&P 500 (SPY) was "leaking" lower, but there were still some pockets of strength. Well this past week, those pockets of strength also got crushed. The bull case has been that the economy would be strong enough to withstand the negative effect of higher…

ABC News

Federal election: Labor rubbishes Morrison's claims of a 'sneaky carbon tax' as scare campaign

Scott Morrison has said Labor's net zero plan is an attempt to revive the carbon tax. In response, Labor campaign spokesman Jason Clare said this was a sign the Liberal Party was getting desperate.

Bangkok Post

Tisco sounds recession alarm on Fed interest rate hikes

The Federal Reserve could raise interest rates to 3.5% by the middle of next year to curb spiralling inflation, tipping the world economy into a recession, according to the Economic Strategy Unit of Tisco Financial Group (Tisco ESU).

Benzinga

Low-Income Consumers Growing Increasingly Optimistic, But Sentiment Among The Wealthy Tumbles

U.S. economic growth is strong, and the economy and labor market are finally back to firing on all cylinders following the COVID-19 pandemic.

The Times of India

Amid coal crisis, power plants meet record 201 GW demand

NEW DELHI: India’s power plants met maximum demand of over 201 GW (gigawatts) at 2.51 pm on Tuesday, beating the previous record of over 200 GW clocked on July 7 last year, as the economy began firing on all cylinders and a raging heatwave further fuelled consumption.

Birmingham Post

North East aiming to attract more cruise ships to boost economy

Port of Tyne, Newcastle International Airport and the NewcastleGateshead Initiative are working together on the Cruise North East England project

The Guardian - UK

Hopes of permanent extra bank holiday dampened by No 10

Cost to economy invoked in response to widely backed campaign to make day more than just a jubilee one-off

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