Pakistan’s economy is on the brink

Islamabad/London CNN – Muhammad Radaqat, a 27-year-old greengrocer, is worried. He doesn’t know how much an onion will cost next week, let alone how he’ll be able to afford the fuel he needs to heat his home and keep his family warm. “All we’re being told by the government is that things are going to … Read more

Britain hit by the biggest day of strikes in a decade as pay disputes escalate

London CNN – As many as half a million workers are striking across Britain on Wednesday, closing schools, canceling university lectures and bringing most of the rail network to a standstill in what unions say will be the biggest single day of walkouts in more than a decade. Teachers, university staff, train drivers and civil … Read more

Scholz, Macron seek to reset fraught relations with big celebration – POLITICO

Press play to listen to this article Voiced by artificial intelligence. PARIS/BERLIN – German Chancellor Olaf Scholz and French President Emmanuel Macron will aim to reboot their problematic relations with a big ceremony on Sunday as shared frustration over a new US law helps them overcome differences. Paris and Berlin have been at odds in … Read more

France’s massive ‘Made in Europe’ strategy – POLITICO

Press play to listen to this article Voiced by artificial intelligence. The French government has pitched a complete overhaul of the European Union’s approach to boosting its industry, offering a sweeping “Made in Europe” strategy to counter a flood of US subsidies, according to documents seen by POLITICO. In a letter dated January 9, the … Read more

Make or break for Macron as he unveils unpopular pension reform – POLITICO

Press play to listen to this article Voiced by artificial intelligence. PARIS — France’s disrupter-in-chief Emmanuel Macron is charging ahead and tackling one of the nation’s many sacred cows: raising the retirement age — despite stiff opposition from trade unions and swathes of the French public. His Prime Minister Elisabeth Borne is set to present … Read more

What Really Happened With Russia’s Economy in 2022?

While many analysts and observers expected the Russian economy to collapse under the weight of the Ukraine war and a flood of Western sanctions, the country has actually appeared surprisingly resilient through 2022. The head of Russia’s Central Bank said in December that Russian GDP would contract just 3% in 2022, while President Vladimir Putin … Read more

Here’s what could tip the global economy into recession in 2023

London CNN – The global economy has endured a tough year, with decades-high inflation sapping post-lockdown spending and pushing central banks to hike borrowing costs at an unprecedented clip to bring it under control. Their campaign to manage prices may be working — but potentially at a sizable cost in 2023. “It is likely that … Read more

Tunisia’s political experiment threatens economic collapse

NICE, France (AP) — Tunisia’s increasingly authoritarian president appears determined to upend the country’s political system. The strategy is not only threatening a democracy once seen as a model for the Arab world, experts say it is also sending the economy towards a tailspin. The International Monetary Fund has frozen an agreement meant to help … Read more

Brexit has cracked Britain’s economic foundations

London CNN – It’s been two years since former Prime Minister Boris Johnson signed his Brexit trade deal and triumphantly declared that Britain would be “prosperous, dynamic and contented” after completing its exit from the European Union. The Brexit deal would enable UK companies to “do even more business” with the European Union, according to … Read more

Fed raises key rate by half-point and signals more to come

WASHINGTON (AP) – The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come. But it announced a smaller hike than it had in its past four meetings at a time when inflation is showing signs of easing. The Fed … Read more