How Boris Johnson raked in £5m in 6 months after leaving office
Boris Johnson’s outside earnings have now hit £5m in the six months since he left office, new figures suggest. His latest disclosures, which came as he was grilled by MPs
Climate change could spur severe economic losses, Biden administration says
Climate change is generating major economic problems in the United States, the Biden administration said in an annual report published this week. The assumptions that higher-income countries like the U.S. would
How Nigerians are using WhatsApp groups to fight food inflation
As inflation rises above 20%, middle-class Nigerians are forming WhatsApp groups to buy food items in bulk directly from producers and share among themselves. For Cecelia Anahobi, a single mother
Italy’s Model for Renewable Energy Communities
San Giovanni a Teduccio is a working-class neighborhood on the outskirts of Naples, Italy. Once an industrial center, today it’s home to abandoned factories that sit in ruins by the
Honduras says economic factors fuelling pursuit of China ties
The Honduran foreign minister has said that a decision to pursue diplomatic relations with China and ditch ties with Taiwan was motivated by economic interests rather than ideology. Speaking to the Canal
South Korea yields on extended 69-hour working week after backlash from young workers
The government of South Korea has been forced to reconsider a proposal to raise the cap on weekly working hours to 69, due to widespread rejection by young people, who
DRC’s dilemma: Generate oil wealth or combat climate change?
The Democratic Republic of Congo wants more money for climate projects. Otherwise, oil drilling could replace fishermen in the world’s largest peat bog. And that could spell devastation for the
EU countries seek to weaken livestock emission limits
BRUSSELS, March 16 (Reuters) – European Union countries agreed on Thursday to try to reduce the number of farms covered by proposed rules to cut pollution and greenhouse gas emissions
Liquid gas industry fights to weaken EU climate plans ahead of key vote
Liquid gas companies are casting themselves as champions of rural communities in a bid to weaken proposals to slash the carbon emissions produced by heating Europe’s buildings, according to dozens
German workers want green transition, but not with lower pay
As industrialised countries shift towards climate neutrality, some industries such as coal mining will have to disappear, meaning workers need to retrain to find employment in other sectors. Other industries,
Anti-strike bill akin to modern slavery, legal experts tell MPs
The government’s plans to give employers powers to force striking workers back to work is akin to modern slavery, legal experts told MPs. Last month, business secretary Grant Shapps unveiled plans that
Power outages are killing South Africa’s gig economy
Bongani Mlilo started driving for the ride-hailing company Bolt in Thembisa, east of Johannesburg, in 2020. Things were smooth for the first two years. Mlilo earned about 6,000–7,000 rand ($325–$380)
Sri Lanka workers defy strike ban to protest IMF bailout plan
Sri Lankan workers have gone on strike in defiance of a government ban to protest against a rescue plan for the bankrupt island nation, forcing the closure of some hospitals,
UK government climate ‘aid’ set to displace indigenous villagers in India
“We are saying with folded hands that the only thing that we want is our lands to be saved. And if not land, then at least our houses.” The Canary spoke
Citizenship-by-investment programs are on the rise in Africa
African economies looking to attract fresh investments are turning to innovative programs that offer residence and dual citizenship opportunities to investors with deep pockets. Migration investment programs allow people to purchase
Countries split on plastics treaty focus as U.N. talks close
WASHINGTON, Dec 2 (Reuters) – The first round of negotiations on a global plastics treaty ended on Friday with agreement to end plastic pollution but a split on whether goals
President Muhammadu Buhari’s questionable legacy
In 2015, when he was elected president of Nigeria, Muhammadu Buhari made history in more than one sense. It was the first time an opposition candidate assumed the helm peacefully. And
China beats Tesla to Nigeria’s lithium riches
Kaduna, a state in northwestern Nigeria, has selected China’s Ming Xin Mineral Separation Nig Ltd. (MXMS) to build the country’s first lithium-processing plant, with a plan to manufacture batteries for
Home Office paying asylum seekers £1 an hour to clean detention centres
The Home Office has paid asylum seekers £1 an hour to carry out more than a million hours of work in the past five years, openDemocracy can reveal. The government
US nominates Ajay Banga for World Bank president
WASHINGTON (AP) — The United States is nominating former Mastercard CEO Ajay Banga to lead the World Bank, President Joe Biden announced on Thursday, crediting him with critical experience on global
Barclays scales down oil sands finance following investor pressure
(Wednesday 15th February) Today, Barclays published its annual report, where it committed to new restrictions on oil sands, following a long-term campaign from shareholders on the issue. From July, the bank will
Turkey cracks down on contractors of quake-struck buildings
Dozens of contractors were detained over the weekend in Turkey, as anger grows over the consequences of the devastating earthquakes and the government vows to take action against construction negligence
Big Oil’s Been Secretly Validating Critics’ Concerns about Carbon Capture
Last February, ExxonMobil announced it would further expand its only active carbon capture and storage (CCS) operation in the United States, located at a gas processing facility in LaBarge, Wyoming. Shute Creek is the
One year on, Ukraine exposes the limits of well-funded international aid
As the power returns following one of the now frequent electricity cuts that ripple across Ukraine, Kylyna Kurochka logs on to her laptop and finds herself faced with dozens of
‘iPhones are made in hell’: 3 months inside China’s iPhone city
Chinese factory laborers call jobs like Hunter’s “working the screws.” Until recently, the 34-year-old worked on the iPhone 14 Pro assembly line at a Foxconn factory in the central Chinese
‘Stop Union-Busting’: After 1,000+ Days Without Contract, NBC News Workers Walk Out
After working more than 1,000 days without a contract, more than 200 unionized NBC NewsDigitalworkers on Thursday launched a 24-hour walkout to protest the media giant’s ongoing “unfair labor practices,” including
The world needs lithium more than ever, and Latin America knows it
German chancellor Olaf Scholz flew to Latin America this week looking for one thing: lithium. Meeting with the leaders of Argentina, Chile, and Brazil — home to the so-called lithium triangle —
Shell’s board of directors sued over ‘flawed’ climate strategy in first-of-its-kind lawsuit
Shell’s board of directors are being personally sued over their alleged failure to properly manage risks associated with the climate crisis. The lawsuit says the British oil giant’s 11 directors
Hope for jobs drives recruitment by militant groups in Africa – report
JOHANNESBURG, Feb 7 (Reuters) – Hope of employment more than religious belief is driving people to join fast-growing extremist groups in sub-Saharan Africa, according to a report by the U.N.
Environment plan for England asks farmers to restore nature – but changes are likely to be superficial
The UK government’s environment improvement plan pledges to restore 500,000 hectares (1.2 million acres) of wildlife-rich habitat, create or expand 25 national parks, invest in the recovery of hedgehogs and
EU’s green industrial plan vague on clean tech, finance, critics say
The Commission’s ‘Green Deal Industrial Plan’, unveiled on Wednesday (1 February), promises simplified EU regulation for clean technologies, but critics say it lacks clarity and opens the door to unrestricted
UK government promises ‘confidentiality’ for Putin allies fighting sanctions
The government has promised Vladimir Putin’s cronies total privacy if they launch a legal bid to be removed from the UK’s sanctions list. The Foreign Office said it would be
‘Beyond imagination’: Pakistan PM warns of IMF bailout conditions
Pakistan’s Prime Minister Shehbaz Sharif has said that the government will have to agree to International Monetary Fund (IMF) bailout conditions that are “beyond imagination”. Sharif’s comments on Friday came
ShareAction response to European Parliament’s Economic and Monetary Affairs Committee decision to enhance the financial sector’s due diligence obligations
The European Parliament’s Economic and Monetary Affairs Committee (ECON) have committed to enhance the obligation on the financial sector to undertake due diligence on human rights and environmental impact. Commenting
A US research firm has accused Adani of pulling “the largest con in corporate history”
A US-based financial forensic firm has alleged that India’s Adani Group, led by the world’s third-richest person Gautam Adani, is involved in a massive and “brazen stock manipulation” and “accounting
How gold mining in Brazil is connected to hundreds of deaths
In mid-January, Brazil’s President Luiz Inacio Lula da Silva accused the country’s former president, Jair Bolsonaro, of facilitating genocide against the Indigenous Yanomami people, who live deep in the Amazon rainforest along the border
Greenwashing on food, drink, toiletry labels to be scrutinised in UK
LONDON, Jan 26 (Reuters) – Britain’s competition regulator will consider whether companies selling food, drink and toiletries are wrongly labelling products as “sustainable” or “better for the environment” in its
US: Financial world celebrates slowing wage and employment growth in new jobs report
The drops in both new jobs and wage growth contained in a Department of Labor report released on Friday elicited cheers from financial world insiders. “This is a really terrific jobs
Pedro Castillo: The 180 minutes that made Peru tremble
In the early days of his presidency, he was acclaimed by crowds in public squares as the humble man representing those who had never held power in Peru. On Wednesday,
Davos struggles to get used to a world without Russia
DAVOS, Switzerland — For the second year in a row, Western sanctions have prevented Russian officials and oligarchs from attending the World Economic Forum in Davos, the Swiss ski-resort town
Revealed: more than 90% of rainforest carbon offsets by biggest provider are worthless, analysis shows
The forest carbon offsets approved by the world’s leading provider and used by Disney, Shell, Gucci and other big corporations are largely worthless and could make global heating worse, according to a
Five political decisions that drove the NHS to the brink
Rishi Sunak was once again forced to deny that the NHS is facing a crisis this weekend, claiming that the service is merely “under pressure”. The prime minister has continued
€60bn earmarked for EU Covid recovery could go to fossil-fuel projects
Billions of euros ringfenced for Europe’s post-Covid recovery could be diverted into a raft of new fossil-fuel infrastructure projects, deals which may lock Europe into contracts for the next 20
Is aid from the richest countries really at a record high?
Aid from the world’s biggest donors is reaching record levels, according to the latest assessments. But as usual, there’s nuance behind the numbers. Official development assistance (ODA) from the world’s
Washington state just started capping carbon emissions. Here’s how it works.
Washington state rang in the New Year with the launch of its most ambitious plan to slash carbon pollution. The new “cap-and-invest” program is designed to follow in the footsteps
European investors give China the cold shoulder
As tensions between the EU and China rise, European companies are turning to Southeast Asia for investment. This trend will likely continue, despite Beijing relaxing its strict Zero-COVID policy. Following
Guidance on corporate nature targets is on its way
Guidance on corporate targets and measurements is coming for the land sector after the announcement of qualitative global commitments. When cutting carbon emissions for the good of the planet became
Heard of “Net-Zero Oil” or “Carbon Negative” Bioenergy? In 2023 You Will
Last year, DeSmog chased ambitious stories all along the climate spectrum. We investigated allegations of workers exposed to radioactive oilfield waste, reported from the frontlines of climate-fueled extreme weather and climate migration, expanded our coverage
Japan’s million-yen idea to tackle demographic decline
Japan’s government will pay families three times more to leave Tokyo and relocate to less densely populated regions of the country. Since the 2019 fiscal year, parents have been able
Liberal Sweden put to the test as transatlantic trade war looms
On timing, Sweden could be forgiven for cursing its luck. Just as the country embarks on its EU presidency, the bloc is facing not only an economy-hammering war on its
Latin America’s pink tide is preparing for the green revolution
Luiz Inácio Lula de Silva’s narrow victory over incumbent Jair Bolsonaro in Brazil’s recent presidential election has reinvigorated the Latin American left. Despite recent setbacks in Peru and Argentina, left-wing governments in the
COP15 Global Biodiversity Framework – ShareAction response
(Monday 19th December) Commenting on the adoption of Kunming-Montreal Global Biodiversity Framework at COP15 in Canada today, Katie Leach, Head of Biodiversity at responsible investment NGO ShareAction, said: “World leaders have today
How 2022 shocked, rocked and rolled global markets
LONDON, Dec 30 (Reuters) – Trillions of dollars wiped off world stocks, bond market tantrums, whip-sawing currency and commodities and the collapse of a few crypto empires – 2022 has
Secret files reveal how UN climate advisers ‘greenwashed’ for BP
The PR firm advising the UN on climate change campaigns has been accused by US lawmakers of helping BP “greenwash” its fossil fuel investments, openDemocracy can reveal. Internal BP documents released to
What do politicians really think of economists? New research explains why relations fell apart after 2008
As countries across Europe and around the world grapple with high living costs and impending recession, voters are concerned about the economy and how their elected representatives will fix it. For many,
Sanders’ Bill to Expand Worker Ownership Passes Senate in Omnibus
Legislation that Sen. Bernie Sanders unveiled 13 years ago to help boost workplace democracy and curb worsening inequality in the United States was included in the $1.7 trillion omnibus package approved by
‘An amazing year’: Scotland sees renewables generation soar 55 per cent
Renewable energy generation in Scotland during the third quarter of the year rose a massive 55 per cent year-on-year, according to new figures from the Scottish government released yesterday. The data
HSBC announces it will no longer finance new oil and gas fields – ShareAction response
(Wednesday 14th December) Responding to today’s announcement that HSBC, the UK’s biggest high street bank and one of the world’s biggest financers of fossil fuels, will no longer finance new
Why the US is backing the Africa Continental Free Trade Area
More investments in Africa could see the Biden administration reduce China and the EU’s dominance in trade with Africa The US is optimistic that if the Africa Continental Free Trade Area (AfCFTA)
India: Families of migrants who died in Qatar seek answers
Mammai Bhoo Laxmi’s husband went to Qatar to work on its FIFA World Cup infrastructure as a construction worker. Within one week of arriving, he was reported dead. Eight years
Weekend showdown looms for EU carbon pricing revamp
Europe’s carbon market expansion plans could hardly have come at a worse time. Starting Friday, EU institutions will attempt to finalize an extensive revamp of the bloc’s Emissions Trading System (ETS),
Labour’s plan to ‘abolish’ the House of Lords: what exactly has been proposed – and the chances Keir Starmer will adopt it
A commission led by former prime minister Gordon Brown has called for a future Labour government to replace the controversial House of Lords with an elected upper chamber, in a
Landlords’ efforts to turn students against new renters’ rights
The UK’s largest landlord body has sent letters to more than 20 university unions representing thousands of students in its drive to get students cut out of new renters’ rights.
Historic Offshore Wind Lease Sale in California Gets Over $750 Million in Winning Bids
Climate and environmental campaigners on Wednesday hailed the first-ever U.S. government offshore wind power lease sale off the Pacific coast, an auction that drew over three-quarters of a billion dollars in
MPs Advocate for NHS Privatisation While Being Funded by Private Health Firms
A lobbying group led by Conservative MPs and peers has released a report recommending the further privatisation of the NHS while being funded by private health companies, Byline Times can reveal.
Inflation: How financial speculation is making the global food price crisis worse
UK households, like those in many other countries, are struggling to make ends meet. More than half of households have only £2.66 per week left after paying for bills and essentials, according
Defending the environment can be a death sentence
More than 1,700 environmental and land defenders have been killed in the last decade. Most of them were Indigenous people — and most were in Latin America, a DW analysis
Trade war averted? Macron gets Biden to ‘tweak’ his industrial subsidies
French President Emmanuel Macron snatched an unexpected win from his U.S counterpart during a visit to Washington on Thursday, getting Joe Biden to suggest that European companies could benefit from a
Latin American could set a global example for a just energy transition
In Latin America and the Caribbean, a mix of technological, economic, social and political factors could come together to ensure that the region has the right conditions to become a
France and Ireland see ‘window’ to resolve post-Brexit dispute with UK
French President Emmanuel Macron and Irish Prime Minister Micheal Martin believe there is “a crucial window of opportunity to resolve” post-Brexit trade disputes with London over Northern Ireland, according to
Report lays bare Australia’s ‘sobering’ climate challenge
Rising temperatures are fuelling widespread environmental degradation across Australia and supercharging natural disasters, according to a government report released Wednesday in the wake of flash floods on the country’s east
UK overseas aid still invested in fossil fuels – two years after climate pledge
A fund set up using British overseas aid cash still holds at least 20 investments in fossil fuel companies, two years after it pledged to stop backing dirty energy. Records
COP27: Key outcomes agreed at the UN climate talks in Sharm el-Sheikh
The COP27 summit in the Egyptian resort town of Sharm el-Sheikh made history when developing countries secured a new fund to support the victims of climate disasters. Yet this was
Trade war threatens to overshadow EU-US summit
When senior European and American officials gather in Washington next month, there’s a lot they’re likely to agree on — from vaccines to artificial intelligence. Just don’t bring up subsidies
UK’s most secretive think tanks took £14.3m from mystery donors
The UK’s most secretive think tanks have raised more than £14m from mystery donors in the past two years, new analysis by openDemocracy has found. Among them are some of
Sponsor Microsoft Partnering with Egypt’s Big Oil Drive to ‘Increase’ Fossil Fuel Investments
Documents reveal Microsoft is working with the Egyptian Government to use COP27 to maximise fossil fuel exploitation – and the owners of the Daily Mail are helping them. Despite hosting
Republicans pitched an economic solution. Now they’ll have to deliver.
WASHINGTON — Central to Republicans pitch to voters in the midterm elections was a pledge to tackle high inflation and bolster the economy, but a GOP “civil war” is brewing over what
Too poor to die: the rise of crowdfunded funerals
Amid soaring inflation, more families are having to turn to the kindness of strangers to shoulder the cost of dying. When Cerys Defis lost her mom, Tresi Davies, to bowel
Can ‘the people’ solve climate change? France decided to find out.
At first, Sylvain Burquier thought it was a joke. It was August 2019, and Burquier and his two children were at their home in Paris’s Ninth Arrondissement, off the right
EU faces winter recession as war pummels the economy
The European Commission now expects the EU and euro area to contract in the last quarter of this year and first quarter of 2023, amounting to a technical recession, before
GDP is getting a makeover
Pressure is mounting to downgrade GDP or improve it so economic growth is not the only game in town. The numbers are heading in the wrong direction. If the world
G7 Russian oil price cap applies only to seaborne crude
WASHINGTON, Nov 4 (Reuters) – The price cap on Russian oil exports to be imposed by G7 countries and Australia next month will apply only to seaborne cargoes through the
Nurses set to strike in first ever national action – as patients braced for disruption
Nurses across the UK are set to strike in the first ever national action over a pay dispute. The strike ballot among more than 300,000 members of the Royal College
High hopes for COP27, but warnings of disappointment
Since 1992, when world leaders first came together to address global warming, humanity has spewed more than one trillion tonnes of heat-trapping carbon dioxide from fossil fuels into the air.
Herman Daly, professor who introduced ecology to economics, dies at 84
Herman E. Daly, an economist who envisioned a new practice of his field, a discipline known as ecological economics in which growth is not an unquestioned good and the impact
Thousands of Children At Risk of Criminal Exploitation as Government Classifies Modern Slavery as an Immigration Issue
New data on children in need reveals the scale of criminal and sexual exploitation of children – so why does the Government see modern slavery as an issue for illegal
‘Carbon capture’ subsidy could let power station keep polluting atmosphere
The owner of Britain’s biggest power station could receive billions of pounds in green subsidies for a flagship ‘carbon capture’ project even if much of the carbon ends up being
Good mental health linked to a reduction in productivity losses to the economy
Good mental health in Denmark is associated with a reduction of USD $0.9-1.3bn per year in productivity losses to the economy, according to a new study published in the Mental Health and
European Central Bank announces new super hike of interest rates to tame inflation
The European Central Bank (ECB) has announced a new jumbo hike of interest rates in a bid to bring down record inflation in the eurozone. The bank’s three key interest
China’s Missing Economic Data
China’s third-quarter economic data, including gross domestic product figures, were due to be released Oct. 18. The day before the scheduled release, however, publication was delayed indefinitely. Indeed, over the
Economic woes, shifting ties complicate Pakistan’s flood recovery
Islamabad, Pakistan – Pakistan has this week announced plans to host an international donors’ conference to help it recover from catastrophic floods that caused widespread devastation and major financial losses this summer. The United Nations
UK economic outlook downgraded to ‘negative’ by rating agency
The UK’s economic outlook has been downgraded from “stable” to “negative” by the rating agency Moody’s because of political instability and high inflation. Moody’s said the change in outlook was
Iran privately menaces EU capitals against sanctions
VIENNA/BRUSSELS/BERLIN/PARIS — Iran this week privately pressured EU diplomats to abandon sanctions against Tehran over its lethal crackdown on protesters, warning diplomats the move may rupture Europe’s ties to the
Yellen warns of ‘geopolitical coercion’ by Russia, China
WASHINGTON, Oct 12 (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday said the global economy was facing “significant headwinds” and the United States was working to shore up its
IMF chief rebukes UK officials over ‘policy coherence’
International Monetary Fund Managing Director Kristalina Georgieva has rebuked the United Kingdom over its planned tax cuts, telling its finance minister and central bank chief that their policies should not be
An often-overlooked economic measure is signaling serious trouble ahead
The Conference Board’s Leading Economic Indicators index indicated that conditions worsened in September. While not usually considered a major data point, the LEI, combined with Fed rate hikes, is signaling
EU Commission allows collective bargaining for solo self-employed
Two years after its initiative to ease collective bargaining for self-employed workers, the European Commission published new guidelines to allow collective bargaining for solo self-employed people under EU competition rules.
Why the US dollar’s supremacy is hurting the rest of the world
“In God We Trust” has been inscribed on all US paper and coin currency since former president Dwight Eisenhower mandated it in the 1950s. Americans generally believe in the afterlife,
New York is the latest state to ban sales of new gas-powered vehicles by 2035
New York is the latest state to push for a ban on the sale of new gas-powered vehicles by 2035. New York joins Massachusetts and Washington state in following the
UK defies climate warnings with new oil and gas licences
The UK has opened a new licensing round for companies to explore for oil and gas in the North Sea, reports BBC News, which adds that the “decision is at
Bitcoin in crosshairs as EU goes after non-green crypto
The EU wants to shame the world of crypto into greener practices — and Bitcoin is first in line. The world’s most popular crypto will likely fall under a scheme
South Korea’s factory output falls in warning for global economy
South Korea’s factory production fell for a second straight month in August, a warning sign for the global economy as it faces risks from the war in Ukraine to rising interest rates.
Eurozone inflation hits record 10%, highest in the history of the euro
Inflation in the 19-member eurozone reached 10% in September, the highest it has ever been in the history of the common European currency, according to the latest flash estimate from
Sweden detects a fourth leak in Nord Stream gas pipeline
The Swedish Coast Guard has detected a fourth gas leak in one of the Nord Stream pipelines that cross under the Baltic Sea carrying natural gas from Russia to Europe. According to
‘Path to oblivion’: Ukraine military gains could deepen Russia’s economic problems
Ukraine’s military has had stunning success in recent weeks, recapturing Russian-occupied territory in the northeast and south of the country. Holger Schmieding, chief economist at Berenberg, said the recent Ukrainian
Markets spooked as UK slashes taxes and boosts borrowing
LONDON — U.K. Chancellor Kwasi Kwarteng signaled a sharp change in British economic policy Friday as he cut taxes, pledging a “new era” focused on boosting growth. Markets reacted dramatically
The world’s largest carbon removal project yet is headed for Wyoming
A couple of climate tech startups plan to suck a hell of a lot of carbon dioxide out of the air and trap it underground in Wyoming. The goal of
Bank of Japan keeps ultra-low rates despite US Fed tightening
The Bank of Japan has maintained ultra-low interest rates and dovish policy guidance as it seeks to reassure markets that it will continue to swim against a global tide of
Africa Seeks Public-Private Investments to Help Combat Climate Change
Rabat- Africa faces an uncertain future with the impacts of climate change ahead. While the continent’s citizens are still unsure about the consequences of the climate crisis, the solution to
Bank of England and new UK government risk policy clash
LONDON, Sept 15 (Reuters) – The Bank of England and Britain’s new finance minister Kwasi Kwarteng will test their ability to jointly manage the economy next week, with the BoE
California files lawsuit against Amazon for blocking price competition
The US state of California filed a lawsuit on Wednesday against online shopping giant Amazon for allegedly violating antitrust laws by blocking price competition. Rob Bonta, the Californian attorney general,
Queen’s funeral could push U.K. into ‘technical recession’: economic forecast
The death of Queen Elizabeth II could be the blow that sends the United Kingdom’s already-strained economy into a “technical recession,” according to one economic projection, as some Canadians also ring warning
European Central Bank could unleash a jumbo rate hike as the economy slides toward recession
FRANKFURT, Germany — The European Central Bank is expected to frontload a series of rate hikes and sacrifice growth in the region due to the rising cost of living which
Is Russia’s economy really hurting?
Russia’s economy was predicted to collapse after Western countries imposed unprecedented sanctions on Moscow over the war in Ukraine. But last week, the Russian statistics bureau Rosstat said gross domestic
After record floods, now Pakistan has to worry about economy
Islamabad, Pakistan – Tanveer Aziz Kingrani was planning to spend August preparing for his term examinations at the University of Sindh. Instead, the 23-year-old aspiring physicist has been camping out in
World close to hitting four climate “tipping points,” new research warns
Even if the world somehow manages to limit future warming to the strictest international temperature goal, four Earth-changing climate “tipping points” are still likely to be triggered with a lot
Sterling suffered its worst month since Brexit, and analysts expect it to ‘plumb new depths’
LONDON — Sterling in August suffered its sharpest monthly fall against the U.S. dollar since the aftermath of the Brexit referendum, as political uncertainty and a historic cost-of-living crisis weigh
India’s status as world’s fastest growing major economy to be short-lived
BENGALURU, Aug 29 (Reuters) – India likely recorded strong double-digit economic growth in the last quarter but economists polled by Reuters expected the pace to more than halve this quarter
Two-thirds of UK households to be in fuel poverty by the new year, according to new report
People living in the poorest and coldest regions of the UK will be the worst affected along with those who are already most likely to be struggling with the cost
Global fish stocks can’t rebuild if nothing done to halt climate change and overfishing, new study suggests
Global fish stocks will not be able to recover to sustainable levels without strong actions to mitigate climate change, a new study has projected. Researchers at UBC, the Stanford Center
UK energy bills to rise by 80% in October as regulator announces hike
LONDON — Britain’s energy regulator announced Friday it will raise its main cap on consumer energy bills to an average £3,549 from £1,971 a year, as campaign groups, think tanks
Goods Barometer points to stagnating global trade growth
The Goods Trade Barometer is a composite leading indicator for world trade, providing real-time information on the trajectory of merchandise trade relative to recent trends. The latest reading of 100.0
French minister demands probe into TotalEnergies’ reported links to Russian army refueling
French Transport Minister Clément Beaune on Thursday called for an investigation on whether gas exploited by oil giant TotalEnergies has been used to fuel fighter jets used by the Russian
Ukraine battles to avoid hyperinflation as war costs soar
As the war against Russia enters its seventh month on Wednesday, Ukraine is stuck between a financial rock and a hard place as it seeks to stay afloat while fighting off Moscow’s invading forces. Tax revenues have
The petrochemical industry is convincing states to deregulate plastic incineration
The petrochemical industry has spent the past few years hard at work lobbying for state-level legislation to promote “chemical recycling,” a controversial process that critics say isn’t really recycling at
Chinese tech giants hand over algorithms as Beijing tightens internet controls
Dozens of technology companies have submitted their proprietary algorithms to China’s internet regulator in recent weeks, including Alibaba, Tencent and Weibo, according to official documents. The move comes after the
Brussels prepares diplomatic offensive to stop the advance of China and Russia in Latin America
The European Union is alarmed at the advance of Russia and China, in the countries of Latin America, a region traditionally linked in political and economic terms to the West.
UK’s COVID heroes among hardest hit by cost of living crisis
t the height of the pandemic, as hundreds were dying each day, Ivan Andino was travelling across London on a crowded Tube carriage to clean an empty office. Ivan works
Jailed Australian economist testifies in secretive Myanmar trial
An Australian academic and economic adviser to Myanmar’s elected leader Aung San Suu Kyi, who was detained after the military seized power last year, has testified in a military court
Spain bans setting the AC below 27 degrees Celsius
A decree published on Tuesday morning in the official state gazette and scheduled to go into effect next week mandates that air conditioning in public places be set at or
Germany’s 9-euro transport ticket drives up train trips
A ticket allowing people unlimited travel on Germany’s trains and buses for just €9 ($9.28) a month has led to a large uptick in train trips, particularly in rural and tourist areas,
How the soaring cost of living is impacting asylum seekers
For asylum seekers, who are given a paltry sum to live off by the Home Office, rising prices are set to make a desperate financial situation even worse. UK inflation
It appears Truss has a problem with solar panels but not with fracking
Liz Truss has set out her energy plans and they might not seem the most likely to meet our net zero targets. Speaking to the TalkTV hustings in Exeter, Foreign Secretary Ms Truss revealed
Amazon’s emissions increased dramatically last year despite carbon neutrality goal
Despite the company’s commitment to decrease its carbon footprint, Amazon’s emissions grew by 18 percent last year, according to the annual sustainability report it released today. While online shopping increased during the pandemic’s second
What 21 billion Facebook friendships say about the economic ladder in the US
Meta publicly released information on 21 billion Facebook friendships as part of a research project looking at economic inequality in the United States, the company announced today. Along with new insights
UK central bank raises interest rate, warns of recession
The pound sterling dropped on Thursday after the Bank of England upped interest rates by the biggest increase in 27 years. At the same time it delivered the rise in
Another big Fed rate hike is here to battle inflation. Economy hangs in balance
With prices rising at their fastest pace in a generation, the Federal Reserve is ratcheting up its fight against inflation. On Wednesday, the Fed raised its benchmark interest rate by
Economic instability blamed for decrease in food & drink dealmaking
Soaring inflation and economic instability has weighed on UK food and drink dealmaking, with the past quarter seeing the lowest number of deals completed since the depth of the Covid
Could Nancy Pelosi’s Visit to Taiwan Set Off a War?
To go or not to go? That’s the billion-dollar question for House Speaker Nancy Pelosi, the third-most senior U.S. official, whose reported trip to Taiwan next month has spurred threats of a
Rich countries broke climate finance promise, says OECD
Rich countries broke their main climate promise to developing nations, the Organization for Economic Cooperation and Development confirmed Friday. In 2009, high-income countries pledged to deliver $100 billion a year
How 40C heatwave vapourised millions of pounds from UK economy
The UK recorded its highest temperature ever on Tuesday, exceeding 40C (104F), and prompting a refocus on climate change as the heatwave gripping Europe intensifies. According to the Met Office a record
Amazon buys into health care market for $3.9 billion cash
Seattle-based Amazon on Thursday announced its purchase of established primary health care provider One Medical. The deal reportedly cost Amazon $3.9 billion in cash ($18 per share / $76.8 premium). This would
Is the dream of clean and unlimited nuclear fusion energy finally within reach?
The Sun has fueled life on Earth for billions of years, creating light and heat through nuclear fusion. Given that incredible power and longevity, it seems there can hardly be a better
Good News: Economy Sucks, You’re Screwed, and It’s All Your Fault, Economists Say
Good news everyone: wage increases are slowing, raises are getting smaller, layoffs are beginning to happen, and inflation is all your fault. And you should be grateful about all of
Nature is in crisis. A UN report says short-sighted economics is to blame.
When governments make decisions, economic considerations often trump everything else — human well-being, social connections, the health of the environment. According to a new report from the United Nations, this
Closing the gender gap for women could help economies out of crisis. Here’s how
The current recession, unlike past economic slumps that have tended to be worse for men, is disproportionately bad for women. It comes after a period where the COVID-19 pandemic and
Sri Lanka’s crisis is not just about the economy, but a long history of discrimination against minority groups
Sri Lanka is in the grip of an economic, political and humanitarian crisis. In a remarkable display of anger on Saturday, thousands of protesters disregarded government curfews, rampant military and
China’s economy slows sharply, fanning global recession fears
China’s economy grew at the slowest pace since the start of the COVID-19 pandemic in the second quarter, highlighting the punishing economic toll of Beijing’s stringent “dynamic zero COVID” strategy.
Euro falls to 20-year low against US dollar and approaches parity
The possibility that a US dollar and a euro will be worth exactly the same is getting closer to becoming a reality. The single currency suffered further falls this Tuesday
US weighs restructuring Trump-era China tariffs to fight inflation
US President Joe Biden’s administration is looking at whether to cut tariffs on some Chinese imports in a bid to ease inflation, the White House said on Tuesday. Four years ago, former US President Donald Trump imposed
Why sustainability is emerging as the key bellwether of Web3
In April, the largest land rush in the brief history of the metaverse raised approximately $320 million from the sale of 55,000 parcels of virtual land in Otherside, an immersive world created by
As natural gas prices soar, coal makes a comeback in Europe
A report from Bloomberg lays out the ways that natural gas is now affecting not only the world’s carbon future, but our present geopolitics and international economy. The price of the ostensible bridge
G7 and Nato summits lay bare deep and hostile divide between Russia and China and the west
Against a backdrop of unprecedented turmoil – the first major war in Europe in three decades, the highest inflation rates in decades and a rapidly worsening global food crisis – western leaders have met for two
The Supreme Court’s EPA decision could have been much, much worse
On Thursday morning, the U.S. Supreme Court handed down its long-awaited decision on West Virginia v. EPA, the case challenging the Environmental Protection Agency’s authority to regulate greenhouse gas emissions from
Worker-Owned Apps Are Redefining the Sharing Economy
Ken Lewis moved from Grenada to New York City in 1989 at a time when he says employment options for immigrants were limited. “You either got into construction or drove
UK economy faces double threat of inflation surge, recession risk
LONDON, June 29 (Reuters) – Britain’s economy is struggling under the strain of two major risks in the form of double-digit inflation and a possible recession, leaving the Bank of
Creating a wellbeing economy
Measuring economic, social and environmental prosperity. A new monitor will help inform policy decisions to reduce Scotland’s vulnerability to future financial and environmental shocks, helping build a more prosperous, resilient,
EU leaders talk economy as Russia slashes gas supplies
Leaders of the European Union’s 27 member states are meeting for the second day of a summit on Friday to address the bloc’s inflation-hit economy. The first day of the summit
Digital transformation could grow EU economy by €2.8 trillion
The European Commission (EC) has proposed a bold vision for Europe’s digital transformation by 2030. According to a new study by Public First — Unlocking Europe’s Digital Potential — the EC’s Digital
UK to be major economy worst hit by Ukraine war, says OECD
Britain’s economy is forecast to slow to a standstill next year as it suffers more than any other major industrial country from the effects of Russia’s invasion of Ukraine. The UK
Chances of recession in Britain in next two years have increased, J.P. Morgan economists say
LONDON, June 16 (Reuters) – The Bank of England stuck to its gradual increases in interest rates on Thursday, as other central banks took more urgent action, but said it
Why investors suddenly care about saving the environment
Here’s a big number: $44 trillion. That’s how much of the world’s total economic output is dependent on animals and ecosystems, according to the World Economic Forum. Insects pollinate commercial crops, coral reefs protect coastal
Inflation is expected to remain high later this year even as the economy slows and layoffs rise
Kat Johnston didn’t expect the pandemic to make her less stressed about her finances. After all, she temporarily lost her job at the library where she worked full time. But,
Fifth consecutive hike as interest rate raised to 1.25% by Bank of England
The Bank of England has raised interest rates for the fifth time in a row to 1.25% and set the scene to act more “forcefully” ahead because of a mounting
Climate versus cost: what does the UK’s energy crisis tell us about the economics of net-zero in an energy-scarce world?
The UK is in the grip of a fierce cost-of-living crisis. In May, the country’s inflation rate hit a 40-year high of 9%, and although the current crisis is global, the
The ugly economics behind Apple’s new Pay Later system
Apple is getting into the “buy now, pay later” (BNPL) business with its new Pay Later service built into Apple Pay and Apple Wallet. While Apple bills the service as “designed with
Economists Aren’t Doing Much Economics These Days
Arnold Kling notes in a blog post that the recent issue of the Journal of Economic Literature, a prominent peer-reviewed econ journal, is largely sociology. He links to a different blog post by Florida State
Beyond Sri Lanka, economic cyclone bears down on South Asia
MUMBAI — For over a decade, Mattias Martinsson has been investing in frontier economies, including Pakistan, Bangladesh and Sri Lanka. Now, he says, South Asia is “in the eye of
Is ‘Greedflation’ Rewriting Economics, or Do Old Rules Still Apply?
There are few good things about living through a period with the highest inflation in four decades, but here’s one: It’s a chance to re-examine what happens in an economy
Labour shortages: the ‘most urgent problem’ facing the UK economy right now
Anyone going on a UK break this month would do well to book pubs and restaurants well in advance, said The Sunday Times – and even if they get a table, they
Immigration raids are being carried out with impunity
In the years between 2017 and 2021, almost all immigration raids were conducted without a warrant a new Huck investigation has found. While having a shower one morning, Maria*, who
Most landlords still using ‘no-fault evictions’ government vowed to ban
More than two-thirds of landlords in England who kicked tenants out in the last year used so-called no-fault evictions, new research reveals – as the government continues to drag its
A new coalition is placing a big bet on carbon removal technology
As global emissions continue to rise, the idea that the world will likely overshoot its climate targets is increasingly becoming a reality. In response, a growing contingent of companies have
Here’s how much it could cost to rebuild Ukraine — and who would pay for it
Russia’s invasion of Ukraine has already destroyed billions of dollars’ worth of infrastructure, blocked exports from key Black Sea ports and displaced more than 12 million people. The World Bank
Notes from Iceland: How the blue economy can drive value and cut waste
Iceland is forging a model for the ‘blue economy’ that has driven down waste and enhanced the value of fish. Supported by a vibrant innovation ecosystem, the seafood sector is
UK economy is ‘grinding to a halt’ amid cost of living crisis
The UK economy is “grinding to a halt” as a tightening cost of living squeeze sends a chill through private sector activity, reveals a closely watched survey. Households are cutting
How ‘USA-first’ failed the solar industry
The economic theory behind solar tariffs is simple: Solar cells and panels made abroad are often cheaper, thanks to lower manufacturing costs and generous government subsidies from countries like China.
How tech rebooted economics and platforms broke the invisible hand
Growing evidence and new research explain the evolution of economic diversity and the need to rethink monopolies in the age of technology. A cursory glance at the myriad apps and
Four-day work week: How competitive is mental health?
The Brussels economic policy crowd seems to be positively inclined towards the idea of a four-day work week if a recent debate at the Brussels Economic Forum is anything to
The Hidden Hostile Environment in the Fishing Industry
When Emmanuel* came to work in the UK, the conditions on the boat were the worst he had ever seen. Having grown up around fishing in Ghana, for him it
China’s uncertain wheat harvest engenders fear for global economy
Deluges and strict lockdowns in China have disrupted farming in a way that country’s winter wheat harvest next month remains one of the big uncertainties in a global economy that is already struggling with high commodity
Sri Lankan power family falls from grace as economy tanks
NEW DELHI — With one brother president, another prime minister and three more family members cabinet ministers, it appeared that the Rajapaksa clan had consolidated its grip on power in
UK economy ‘one of the most vulnerable’ in the world right now due to mortgage trends
There’s an economic idiosyncrasy in the U.K. that makes it “one of the most vulnerable countries in the world right now,” according to an investment strategist. Mike Harris, the founder
Northern Irish economy outperforming UK thanks to Brexit protocol
BELFAST — The post-Brexit trade protocol is helping, not hurting, growth and profitability in Northern Ireland because of its advantageous access to EU markets, according to a British economic think
Training, role models and entrepreneurship opportunities benefit families in Niger
To combat global poverty, social programs that not only provide cash to families — but also address psychological and social obstacles to seizing economic opportunities — can have a beneficial
China’s difficult balancing act: Achieving zero-Covid policy and economic growth
If you want to make God laugh, tell him your plans, so the joke goes. And the Chinese Communist Party (CCP) has announced them loud and clear. In 2022, the
No, Republicans Aren’t Better at Managing the Economy Than Democrats
In the first-ever televised debate between vice presidential candidates in 1976, Kansas Republican Robert Dole deflected a question about his running mate Gerald Ford’s pardon of Richard Nixon by accusing the Democrats
Scotland suffering ‘cost of living with Westminster crisis’ amid stark Brexit inflation report
SCOTLAND is suffering a “cost of living with Westminster crisis”, it has been claimed, after stark reports revealed the full impact of Brexit on soaring inflation and food prices. The trade agreement between the
Attention economy slowdown
After two years of unprecedented growth in social media and streaming, a post-pandemic reality is beginning to set in. Why it matters: Huge revenue gains during COVID inspired media and tech
China’s Politburo pledges support for economy
EIJING, April 29 (Reuters) – China will step up policy support for the economy, including its embattled internet platforms, as domestic COVID-19 outbreaks and the war in Ukraine raise risks,
Possibility of ‘large’ economic shocks in future, Yellen warns
US Treasury Secretary Janet Yellen said Thursday the global pandemic and Russia’s invasion of Ukraine highlight the possibility of big economic shocks in the future, adding that downturns are “likely
Euro Zone Barely Grows as Germany Dodges Recession: GDP Update
Economic expansion in the euro zone began 2022 on a weak footing — underscoring the damage from soaring energy costs and worsening supply snarls following Russia’s invasion of Ukraine. Output
How four big industries are driving the exploitation of our oceans
The world’s first offshore wind farm opened off the coast of Lolland, Denmark, in 1991. Since then, the global installed capacity has grown to nearly 35 gigawatts – enough to power
Economic growth slows as cost-of-living crisis dents optimism
The UK economy grew at its slowest pace for three months as companies saw a marked slowdown in business in the first half of April, according to new data. The
Experts mull Islamic digital economy’s future and challenges
EDDAH: Saudi Arabia was fast reaching its goal of becoming the global hub for Shariah-compliant investment, amid challenges of aligning the growing industry securely with the latest digital technology. These
Sri Lanka’s economic crisis exposes gaps in renewable energy push
It is hard to know how much Sri Lankan forest has been cut down as fuel shortages force people to use firewood to cook: inspectors have halted deforestation patrols because
The UK’s longest gig economy strike isn’t letting up
Now lasting for over 100 days, food couriers in Sheffield are continuing to lead a strike in protest of their pay cut. It’s unusually cold in Sheffield. The sunrise on
Rich countries are illegally exporting plastic trash to poor countries, data suggests
At the beginning of last year, 187 countries took steps to limit the export of plastic trash from wealthy to developing countries. It’s not working as well as they hoped.
Britain to become gas ‘bridge’ to Europe
Britain is set to be a “transit” country for natural gas supplies to Europe this summer as the continent scrambles to ditch its dependency on Russian reserves. National Grid has predicted
Native American economy leads rural communities
AILSA CHANG, HOST: All right. We’re going to take a moment now to look at the state of the Native American economy. A new series running on the website Indian
Lebanon’s economic crisis creating ‘lost generation’ of children
Lebanon’s economic crisis, which is massively impacting the country’s education and health sectors, has created a “lost generation” of children who have been “robbed of an education”, the deputy representative
China’s all-weather friends in deep economic crisis
The two countries are caught in the Chinese debt trap with Beijing demanding further concessions for rescheduling the debt like demanding that Colombo give permission for Oceanography in South Sri
Russia’s Tragic Failure to Reform Its Economy
Russia’s invasion of Ukraine and resulting sanctions will likely devastate Russia’s economy. If the country had taken a more productive economic course over the past two decades, it might be
One in five bankers claims non-dom tax status
More than one in five top earning bankers has benefited from non-dom status, according to a new LSE and University of Warwick report. Non-doms also make up a sizeable share
Darkening sentiment a ‘major concern,’ ECB’s chief economist says
FRANKFURT – The latest drop in economic sentiment is a major concern, suggesting the eurozone economy could suffer a massive hit from Russia’s war against Ukraine, according to European Central Bank
German economy minister raises warning level for gas supplies
German Economy Minister and Vice-Chancellor Robert Habeck on Wednesday triggered the early warning level for gas supplies as Moscow continues to demand to be paid in rubles. This move is
China’s economy hit by double whammy in March
BeijingActivity in Chinese manufacturing and services simultaneously contracted in March for the first time since the height of the country’s Covid-19 outbreak in 2020, adding to the urgency for more policy intervention to stabilize the
Why did a popular UK news site run anonymous propaganda about Russian oil?
A popular UK news website has launched an internal review over its decision to run a flattering anonymous article about BP’s investment in a Russian state-owned oil firm. The website,
New Rich List Reflects China’s Shifting Economic Policies, Experts Say
Beijing’s crackdown on high-profile market sectors like tech is upending share prices and forcing a radical reranking of China’s really, really rich as the government changes its economic focus to
Charities face £2bn income dip in the wake of spring statement, economists warn
The charity sector could see a £2bn drop in income, at a time when more people will be turning to the sector, according to new analysis. Pro Bono Economics (PBE)
‘Testosterone-Fueled Bear Pit’ Discourages Women From Economics
The field of economics has a “dirty secret” that’s putting women off its pursuit in academia: It’s a “testosterone-fueled bear pit.” That’s according to one of the U.K.’s most influential
Is China’s zero-Covid strategy a threat to the world economy?
More than two years on from the first cases being detected in Wuhan, China is battling the “worst Covid-19 outbreak” it has seen since the early days of the pandemic,
IEA urges ’emergency measures’ to cut oil use over supply fears
The International Energy Agency on Friday urged governments to urgently implement measures to cut global oil consumption within months following supply fears stemming from Russia’s invasion of Ukraine. The IEA
UK only major economy hiking taxes on working people during cost-of-living crunch
The UK is the only major world economy to raise taxes on working people in response to the cost-of-living crisis, new research has revealed. Labour has called on Rishi Sunak
Sri Lankan protesters demand president quit over economic crisis
Anti-government protests have roiled Sri Lanka’s capital amid demands that President Gotabaya Rajapaksa resign, as the country suffers its worst economic crisis in decades. Tens of thousands of people gathered outside the
Brexit trade deals may not deliver any ‘actual economic benefits’, MPs warn
It is uncertain whether Brexit free trade agreements negotiated by Boris Johnson’s government will provide any “actual economic benefits”, an influential committee of MPs has warned. In a scathing report released on
Why big firms are rarely toppled by corporate scandals – new research
Everyone makes mistakes. And that includes the world’s biggest companies, which are reliably prone to gaffes, errors of judgment and wrongdoing. Some of these moments could even be labelled as
Britons to be £2,500 out of pocket with record level of inflation to hit
Interest rates are also set to increase and the UK GDP will fall, according to the Centre for Economics and Business Research [CEBR]. Their report looked into the possible impact
China may warm to Japan to tackle economic slump, but faces hurdles
China may try to cozy up to Japan in the short run to curb a possible economic downturn, as President Xi Jinping has been keen to secure a controversial third
Surging inflation likely to throttle European economic recovery
Energy prices in Europe have been surging since the start of the Russia-Ukraine conflict, pushing inflation to a higher level and possibly denting Europe’s hope that its economic recovery can
UK economic growth to halve this year as domestic & global headwinds soar
UK economic growth is expected to halve this year amid soaring inflation, major tax rises, and global shocks – including Russia’s invasion of Ukraine. UK Economic Outlook – 2022 The British Chambers of Commerce has downgraded its expectations for UK GDP growth in
A transformational budget for transitional economy
India today is the world’s fourth largest renewable energy (RE) country and fifth largest in terms of installed solar capacity. In early February, solar installations crossed the 50 GW milestone,
Mental health problems cost UK economy at least £118 billion a year – new research
Mental health problems cost the UK economy at least £117.9 billion annually according to a new report published today by Mental Health Foundation and the London School of Economics and Political Science
War in Ukraine ‘to cost global economy at least $400bn in 2022’
The war in Ukraine will cost the global economy at least $400bn (£300bn) this year, according to expert projections. Global growth is set to take a significant hit but European countries will
Russia’s Economy on the Brink of Crisis After Ukraine Attack
Russia’s economy faces being plunged into a fresh economic crisis following Moscow’s move to start military action in Ukraine. The Russian ruble fell 10% to its lowest ever level against
Skills are critical, but lagging, in the race to green the economy
Workers everywhere are acquiring green skills and taking up green jobs. The share of green talent among our membership increased from 9.6 percent in 2015 to 13.3 percent in 2021
An NFT Bubble Is Taking Over the Gig Economy
Argentinian musician Frank Tavis had the life he always dreamed of. The 26-year-old was traveling the world and performing on the streets and in bars in more than 20 countries—each
Investment in languages education could return double for UK economy
An increase in secondary school pupils learning Arabic, Mandarin, French or Spanish could boost the UK economy by billions of pounds over 30 years, according to new research. The study
Migration data shows Johnson’s Brexit will not result in a high wage economy
The UK’s shift towards a more restrictive migration regime after Brexit will not deliver the “high wage” economy promised by prime minister Boris Johnson, a report shows. The analysis from
What is causing inflation? Economists point fingers at different culprits
Americans continue to experience and hear about the nation’s inflation woes: they’re seeing it fairly clearly in gas and grocery prices, and on their news feeds. The inflation rate has exceeded
The Circular Economy and Electronics
The last couple of decades have witnessed an explosion in electronic consumer products. Our lives are now full of devices from smartphones to laptops, speakers, TVs, wearables, battery packs, and chargers
Ukraine: the economic impact of tension with Russia is part of Putin’s long-term plan
Europe is facing strong economic headwinds. Record inflation, the need to recover from the pandemic, and a divided response to Russian troop deployments along the Ukraine border, all chill the February air. Whether
Worker shortage means small businesses are hiking prices at fastest pace since 1974
Researchers canvassing small businesses found that pay and price hikes are happening in tandem across economic sectors as the worker shortage persists into 2022. According to a new survey from
Africa is bringing vaccine manufacturing home
It took a pandemic for the world to learn that African countries import 99% of their vaccines. Africa has around ten vaccine manufacturers, but most do not make a vaccine’s active
Economic impacts of trucker convoy protests could be felt for months, experts warn
First Bite Treats has been through a lot in the six months since it first opened in Ottawa’s ByWard Market. Starting this year with a COVID-19 lockdown was “really disheartening,” says owner
Ethnicity pay monitoring ‘will boost economy by billions’
The figure is based on calculations by Conservative peer Baroness Ruby McGregor-Smith, who’s 2017 report into racism at work found that the UK was losing the equivalent of 1.3% of GDP every
As economy collapses, some young Lebanese turn to militancy
WADI NAHLEH, Lebanon — Two weeks before he was supposed to get married, Bakr Seif told his mother he was going out to see his fiancee and would be back
As China welcomes the world to Winter Olympics, its economy is ever more isolated from the west
As the Beijing Winter Olympics get underway, all eyes are on China. There has been lots of coverage about China’s chilly relationship in the west and its persecution of the
Humans v AI: here’s who’s better at making money in financial markets
Artificial intelligence (AI) has now closely matched or even surpassed humans in what were previously considered unattainable areas. These include chess, arcade games, Go, self-driving cars, protein folding and much more. This rapid technological progress has
Bank of England ups rates
LONDON — The Bank of England increased the key interest rate by 0.25 percent to 0.5 percent on Thursday, the first time since 2004 that it has implemented consecutive rate hikes. Of the
EU launches WTO case against China over Lithuania mistreatment
The European Union on Thursday announced it had lodged a complaint with the World Trade Organization (WTO) over China’s behavior toward EU member state Lithuania, a move Beijing has dismissed as
The Great Resignation has morphed into the Great Sabbatical
Early last year, after winding down a long-term work contract in Hong Kong and relocating to England, for the first time in 20 years, I found myself with plenty of
IMF warns China’s property stress poses spillover risk
A funding crisis battering China’s big property developers could start to shake the wider economy and global markets, the IMF warned on Friday, saying deeper reforms were needed to fully
UK’s rich and poor face similar inflation – but different economic pain
LONDON (Reuters) -Britain’s rich and poor alike are experiencing surges in inflation, official data showed on Friday, although soaring food and energy prices mean low-income households stand less chance of
The ‘potato crisis’ at the heart of Algeria’s imploding economy
Algeria is facing a multifaceted crisis, one of the most serious since the North African country gained independence in 1962. Boiling social and economic unrest has combined with continuing political
Report: ‘Throwaway global economy’ is fuelling climate change
The ‘throwaway global economy’ is fuelling climate change, according to a new report from Circle Economy, showing more than half a trillion tonnes of virgin materials have been consumed since the 2015
When it rains more, there’s less economic growth (Bad news: There’s more rain now)
Our current climate brings plenty of disastrous examples of extreme rainfall. Floods have caused death and displacement around the world, from Sri Lanka to Colombia. In Canada, British Columbia’s unprecedented heavy
Economic benefits of Premier League confirmed by report
A new study by EY highlights how the Premier League and its clubs have continued to generate widespread benefits for the economy, society and the entire football pyramid, despite the
GM’s chief economist says U.S. inflation problems will improve
General Motors’ chief economist said Thursday that she believes the country’s inflation problems are only temporary and mostly the result of supply-chain bottlenecks — not last year’s stimulus checks — and that
Freddie Mac Issued $5B in ESG Bonds Last Year
Freddie Mac Multifamily issued more than $5 billion in green, social and sustainability bonds in 2020 through its Impact Bond series for the asset class, the GSE announced this week.
Inside the UK’s longest gig-economy strike in history
n Sheffield, food delivery drivers are fighting back against one of the giants of the gig economy. On the 6 December 2021, Stuart Delivery – who are contracted to provide
18,000 people have been fined for doing what Boris Johnson did
Police in England and Wales have fined more than 18,000 people for meeting outside during the pandemic – a crime for which Boris Johnson has repeatedly escaped punishment. Black, Asian
Recovery weakening as inflation worries soar
The BCC’s Quarterly Economic Survey (QES) – the UK’s largest independent survey of business sentiment and a leading indicator of UK GDP growth – has shown the recovery stalled in the fourth quarter, with firms facing
Survey says billionaires ‘should pay for climate action’
Wealthy individuals must pay higher taxes to cover the costs of mitigating and adapting to climate breakdown, according to 70 percent of the public as revealed in a survey of
Belgian Government Workers Can Now Ignore Their Boss After Work Hours
Bosses won’t be able contact employees outside of work hours except in exceptional circumstances, according to a proposed law for civil servants in Belgium. A “Right to Disconnect” will be introduced for
Study finds economic progress is aided by longer supply chains and deeper networks
Nations and industries benefit from longer supply chains and deeper networks, which magnify the benefits of innovative improvements, according to research published in Proceedings of the National Academy of Sciences. Although
Renewed attempt to curb high levels of fuel poverty in isles
NORTHERN Isles MP Alistair Carmichael is supporting yet another legislative attempt to get more government support to those who live in fuel poverty and who are to be worst hit
Geoff Harcourt was one of Australia’s greatest economists and a link back to Keynes’s circle
Today Australia lays to rest one of its greatest economists and, with him, a rich chapter of the nation’s economic history. Obituaries are usually about the rich, famous and powerful. Outside
Changing rules for pubs causing major economic damage
The boss of pub giant Wetherspoon has accused the Government of causing “massive” economic damage over the changing restrictions for his industry. Company chairman Tim Martin called for measures to
Omicron, More Lockdowns And Other Big Economic Risks For 2022
New Delhi: The Covid years are littered with predictions that didn’t work out. For anyone looking ahead into 2022, that should be enough to give pause. Most forecasters, including Bloomberg Economics,
UW Economists Question Current Anti-Money Laundering Measures
It’s not that professors in the Department of Agricultural and Applied Economics at the University of Wyoming are involved in money laundering, but they are — sort of. Economists Chian
Trade Experts Highlight Role for AfCFTA in Economic Recovery of African Continent
An event titled, “Exploring the African Continental Free Trade Area and the Resilient Economic Recovery” and organised by the Overseas Development Institute (ODI) and Tulip Consulting, centred on exploring the resilient
Turkey’s economic gamble
Polite descriptions of Turkish President Recep Tayyip Erdoğan’s economic policies go something along the lines of “unorthodox” or “going against the grain.” Put more bluntly, his ideas appear to tap into
Germany’s new climate minister aims for green economic miracle
Once again, a German minister is planning to revolutionize his country’s economy in the face of crisis. In the post-war era, with the country’s economy in tatters, Ludwig Erhard, the
China alert to global economic risks from Omicron, but ‘financial turmoil’ of early pandemic unlikely
he new Omicron variant adds more uncertainty to the global economic recovery and China will closely follow its potential impact on trade and international supply chains, the Ministry of Commerce