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UK's long-term sick pile pressure on economy
The number of people not working in the UK due to chronic illnesses has soared since the pandemic, putting pressure on the British economy, analysts said on Tuesday.
UK unemployment climbs as wages grow at record rate
UK unemployment increased in the three months to the end of June while wages grew at record annual pace, official data showed Tuesday, as the economy struggles with high inflation. The ONS figures also showed that regular pay excluding bonuses was 7.8 percent higher in the three months to the end of June compared to the same period last year.
German minister axes trip over broken plane
German Foreign Minister Annalena Baerbock was forced Tuesday to scrap her trip to Australia, New Zealand and Fiji after her plane suffered recurring technical problems, the latest in a series of incidents with the German fleet.
Disney to shut Lucasfilm studio in Singapore
Lucasfilm's visual effects and animation studio in Singapore will close down in the coming months due to economic reasons, parent firm Disney said on Tuesday. "Over the next several months, ILM will be consolidating its global footprint and winding down its Singapore studio due to economic factors affecting the industry," Disney said in a statement.
Russian central bank hikes key rate after ruble falters
Russia's central bank on Tuesday hiked its key interest rate from 8.5 to 12 percent, after the ruble crashed to a more than 16-month low against the dollar. The bank is next scheduled to consider its key rate on September 15.
Italy's clam farmers fear blue crab 'invasion'
In the shallow waters of the Scardovari lagoon, fishermen catch clams for Italy's beloved spaghetti alle vongole, alongside mussels and oysters. This stretch of lagoon is becoming a desert," said Gianluca Travaglia, a 52-year-old farmer of mussels and clams.
Japanese economic growth smashes expectations
Quarterly growth data for Japan smashed expectations on Tuesday as car exports rebounded and tourists flooded back, but economists cautioned that it may not last.
Asian markets climb on US tech rally, China cuts rate
Asian markets rose Tuesday as a US tech rally bouyed sentiment although concerns over China weighed on Hong Kong as a surprise rate cut and a batch of weak figures gave little cheer on the economic outlook. Shanghai was down 0.1 percent while Hong Kong was off 0.7 percent as a fresh batch of data from Beijing failed to reassure investor concerns about the stuttering Chinese economy.
China suspends release of youth unemployment rates as economic data disappoints
China on Tuesday said it would suspend the release of youth unemployment rates, as its central bank cut a key interest rate to boost flagging growth. The central bank on Tuesday cut the medium-term lending facility (MLF) rate -- the interest for one-year loans to financial institutions -- from 2.65 percent to 2.5 percent.
AFP
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