Economy News - LeadStory

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Australia supermarket chiefs face senate probe

The CEO of Australia’s major supermarket chain has been threatened with jail after refusing to answer questions before a senate inquiry into price fixing. Shoppers accuse grocery stores of using inflation and supply chain issues as an ex...

Al Jazeera

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U.S. animal sanctuaries worry as inflation bites

An informal survey conducted by the Catskill Animal Sanctuary in upstate New York has found that rising costs due to inflation, in tandem with a drop in donations, are putting pressure on animal sanctuaries across the United States.

Reuters

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U.S. retail sales surge as consumer demand persists

U.S. retail sales topped forecasts in March, showcasing resilient consumer demand and suggesting plenty of momentum in consumer spending heading into the second quarter.

Bloomberg

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Jellyfish invasion disrupts Venezuela’s fishing, tourism

Fishermen in Venezuela are warning of an unusual invasion of jellyfish. Millions have appeared off the coast recently, severely affecting much-needed fishing and tourism industries.

Al Jazeera

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Senegal's Faye orders economic 'action plan'

Senegalese President Bassirou Diomaye Faye ordered his prime minister to draw up an urgent "action plan" to strengthen the country's flagging economy and finances, his office said in a statement.

France 24

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Fitch Ratings lowers China’s sovereign credit outlook to negative

Fitch Ratings has downgraded China’s sovereign credit outlook to negative, prompting pushback from Beijing. The downgrade reflects “increasing risks to China’s public finance outlook” as the country attempts to move away from real estate...

Al Jazeera

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Eclipse tourism brings economic windfall

The solar eclipse that captivated viewers across North America was also a delight for the hospitality and retail sectors. Hotels, property rentals, and restaurants were booked along the eclipse's path, while tourists also opened their wa...

France 24

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Canada pledges billions in defence, short of NATO target

Canada has pledged to spend billions on defence spurred on by Russia's invasion of Ukraine, but even with that increase won't achieve NATO's target of two per cent of GDP.

CBC News

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Indonesia travel boom: Analysts project economic boost

The Indonesian government estimates more than 194 million people are travelling to their hometowns during the Eid al-Fitr holiday, which marks the end of Ramadan. And with more than 70 percent of the population on the move, analysts are ...

Al Jazeera

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New Zealand supermarkets under investigation

Major supermarkets in several countries are coming under increasing scrutiny over price gouging. In Australia, a government inquiry into the grocery sector has been launched. And in New Zealand, shoppers are paying some of the highest pr...

Al Jazeera

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New gold backed currency replaces Zimbabwe dollar

Zimbabwe is replacing its collapsing local currency with a new one backed by gold and foreign currencies that it hopes will be more stable and help bring down inflation, the central bank has announced.

Al Jazeera

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U.S. weekly jobless claims rise at the end of March

Initial applications for U.S. unemployment benefits unexpectedly rose last week to the highest level since January at 221,000 claims. What this means for the economy overall is yet to be seen.

Bloomberg

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Laid off government workers protest Milei's reforms in Argentina

In Argentina, government workers who lost their jobs have joined the latest protests against economic reforms imposed by President Javier Milei. Critics say the cutbacks have forced poverty levels to soar to almost 60 percent.

Al Jazeera

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Struggling migrants turn to food aid in U.S.

Despite an improving economy and slowing inflation, high food prices have led to record demand and increasing food insecurity across the United States. In major American cities, a surge of new migrants to the U.S. now joins the chronic p...

Al Jazeera

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Economic crisis hampers garment sector in Bangladesh

The economic crisis in Bangladesh is having a negative impact on the country's most important export sector, the garment industry. The country is the world's second largest manufacturer of clothing after China.

DW News

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World Bank predicts South Asia to be fastest growing in 2024

South Asia will be the fastest-growing emerging market region this year according to a new report by the World Bank. Most of that is attributed to India's economic performance. Neighbouring countries have also recovered from the pandemic...

Al Jazeera

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Oil rises to five-month high as OPEC decision looms

Amrita Sen, founder and director of research at Energy Aspects, examines global oil demand, inventories, and the factors driving the current rise in prices.

Bloomberg

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Pakistani consumers face food inflation during Ramadan

Pakistan has released an assistance package aimed at providing economic relief during Ramadan. People are struggling to deal with high prices and soaring inflation, as the government finalizes an agreement with the International Monetary...

Al Jazeera

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Tea factories in west Bengal state close down

In India, climate change, reduced production and wage increases have forced at least 20 tea factories in West Bengal state to close down. This has left hundreds of tea workers looking for other jobs as they struggle to make ends meet.

Al Jazeera

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Seniors in Turkey suffer as inflation soars

Turkey's economic crisis has taken a toll on retirees, as rising inflation and the cost of living have made it increasingly difficult for them to make ends meet. Despite recent pension increases, many retirees are struggling. As Turkey g...

Al Jazeera

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Baltimore port closure's effect on shipping times, costs

Industry analysts expect reshuffling cargo may add short waits or minor extra expense to shipping costs. But other East Coast ports are expected to take up much of the traffic that would have moved through Baltimore.

Scripps News

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U.N. says more than 1 billion meals wasted per day

Households around the world threw away one billion meals every single day in 2022 in what the United Nations has called a "global tragedy" of food waste. More than $1 trillion worth of food was binned by households and businesses at a ti...

France 24

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Poverty rate in Argentina approaching a 20-year high

Argentina's economic crisis has pushed poverty rates to a 20-year high, forcing many to scavenge in garbage dumps. As the country grapples with skyrocketing inflation, unemployment, and a struggling economy, more and more Argentinians ar...

Al Jazeera

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The economic impact of Baltimore's collapsed bridge

The collapse of the Francis Scott Key Bridge after being struck by a container ship is likely to cause major economic damage for as long as it continues to block shipping in the Port of Baltimore. The bridge's dramatic destruction shut t...

France 24

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Experts say Baltimore bridge crash won't disrupt supply chains

The catastrophic bridge collapse that closed the Port of Baltimore to ship traffic is unlikely to trigger a major new U.S. supply chain crisis or spike goods prices, due to ample and growing spare capacity at competing East Coast ports, ...

Reuters

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French deficit worsens to 'very rare' level

France's budget deficit overshot forecasts in 2023, official figures showed, undermining President Emmanuel Macron's pledge to bring national finances back on track within the next four years.

France 24

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Biden promises federal funds for collapsed Baltimore bridge

The Francis Scott Key Bridge collapse in Baltimore could cause ripple effects in the economy along the East Coast. Meanwhile, Biden addressed the disaster by promising federal funds to alleviate the damage and help rebuild after cleanup ...

Fox News

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Poverty rate remains high in Germany

Poverty in Germany remains high says a new report from a social welfare association. 16.8% of the population lives in poverty, according to the latest figures from 2022. That's around 14.2 million people. Child poverty has reached a reco...

DW News

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Afghan businesses try to stay afloat amid restrictions

Afghanistan's economy has suffered since the Taliban took over in 2021 with some sectors collapsing altogether. But the country's businesses are still finding ways to stay afloat, despite significant banking restrictions.

Al Jazeera

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Yemen: Around 4.5 million children out of school

Save the Children says that 2 in 5 children in Yemen are not going to school because of conflict. That's the equivalent of 4.5 million children across the country. With a declining economy, many of them have no choice but to try and find...

Al Jazeera