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The Latest Breaking News on Economy

Most people think the UK is already in recession

Official data shows the economy is still growing slightly, but three in five people believe the country is in recession

Manchester Evening News

NSW budget faces ‘severe challenges’ as economy slows and interest rate repayments soar

Nevertheless, Labor has confirmed it is deferring a decision on an increase to the sales tax on the Star casino group

The Guardian - AU

Recession politics the latest NZ Labour blow

New Zealand's governing Labour party is trapped in a mire of blunders and bad news, the biggest of which might be the technical recession confirmed last week.

AAP

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Union leaders vow to carry on fight for better wages and working conditions

A year after start of Britain’s biggest wave of industrial action for 30 years, unions say they are are resolute

The Guardian - UK

UK strikes since June 2022: The key numbers

More than half of all working days lost to strikes were in transport and communication industries.

The Independent UK

Why is the Turkish lira’s value still falling?

Experts say the ‘suppressed’ lira is reaching its true value as they forecast a continued fall against the dollar.

Al Jazeera

Further show of strength for Northern Ireland job market despite gathering headwinds

Both unemployment and employment levels back to pre-pandemic levels, but inflation and rising interest rates temper mood

Birmingham Post

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Data | Less than half of urban consumers pessimistic about the economy

When asked about their current perception of the economy, 48.9% said it has worsened

The Hindu

Strong job numbers could mean more rate rises for Australia. Here’s why a recession isn’t a certainty

Reserve Bank appears determined to raise interest rates at least once more, even if Australia’s economy is slowing

The Guardian - AU

The Fed grows confident its Goldilocks economy might come true

The U.S. may not have to sacrifice the economic gains achieved in the pandemic recovery.

Axios

Commentary: By the treasury secretary’s own definition, we’re back in recession

Last month, the Department of Commerce released troubling data on the anemic economy, showing that gross domestic income (GDI) shrank in the previous six months. That’s no surprise to half of Americans who believe we’re currently in a recession, but the data refute President Joe Biden’s claim that the economy…

Tribune News Service

The Guardian view on Rishi Sunak’s economics: recession is an acceptable price to pay

Editorial: Growing the economy by shrinking it first is a high-risk political strategy

The Guardian - UK

Fresh data coming on inflation’s impact on labour market

A fresh batch of jobs data will be pored over this week for confirmation the extremely tight labour market is starting to unwind.

The New Daily

Unwavering focus: On the Monetary Policy Committee’s approach to policy

Achieving durable disinflation must remain a non-negotiable goal, especially amid widening income inequality and high unemployment

The Hindu

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Bangkok Post

Analysts anticipate more rate hikes

The Bank of Thailand is likely to continue to raise interest rates this year to curb rising inflationary pressures, though such increases could hurt the stock market and the economy, say analysts.

The New Daily

Michael Pascoe: No, the wage case shouldn’t panic the RBA

The FWC doesn’t want to turn the current rate of wage increases into something that will scare Phil Lowe & Co.

The Guardian - UK

FTSE 100 posts biggest jump since March as US economy adds 339,000 new jobs – as it happened

US economy added more jobs than forecast last month, with March and April’s data revised higher too, but unemployment rate has jumped to 3.7%

WEKU

'This is a compromise': How the White House is defending the debt ceiling bill

The House's debt ceiling bill has critics on both sides. Bharat Ramamurti, the deputy director of the National Economic Council, says the administration was able to secure some of its key priorities.

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Bangkok Post

Give America a debt brake fast

Since 1960, the United States has raised its debt ceiling 78 times -- soon to be 79, if Congress approves the latest last-minute deal. On a wall in Manhattan, not far from Times Square, a billboard-size display has kept a running tally of the national debt amount.

Kiplinger

Stock Market Today: Stocks Close Lower Ahead of Key Debt Ceiling Vote

The major benchmarks spent most of Wednesday in the red as the House prepares to vote on the debt ceiling deal this evening.

Chronicle Live

Working parents to get DWP childcare boost from next month

Parents who claim Universal Credit will get their childcare costs paid upfront as well as an increase in the amount they can claim

The Guardian - AU

Victorian private schools ‘fearmongering’ over job losses after tax exemptions axed, experts say

About 110 of the state’s top high-fee paying private schools will be required to pay tax on staff salaries, raising more than $420m over three years

ABC News

NSW government freezes pay of MPs, senior public servants

New South Wales politicians and senior bureaucrats will not be getting a pay rise for at least two years, as legislation to freeze their pay is introduced to parliament.

Bangkok Post

Business groups back 'fair growth' principle

Key business groups welcome the Move Forward Party's campaign promises to tackle economic inequality, but wonder if it can solve a problem that has long plagued the country.

ABC News

More money than expected for AFL team in Tasmanian budget but public sector cuts on the way

There's hundreds of millions of dollars in the state budget to kickstart Tasmania's entry into the AFL — but there's also a debt blow-out on the horizon, explains Adam Langenberg.

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