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The Latest Breaking News from Economics

Gordon Brown economics versus Liz Truss tax cuts: a new twist in the battle to resolve the UK’s cost of living crisis

The ongoing Conservative Party leadership hustings haven’t seen much agreement between candidates, but they have resulted in the creation of a new political narrative: “Gordon Brown economics”. Foreign secretary Liz Truss explained away her rejection of cost of living “handouts” for households with the phrase. But even as she indicated…

The Conversation

Boris Johnson in ‘lower bills’ talks with energy bosses but leaves action to next leader – as it happened

Live, rolling coverage of business, economics and financial markets as chief executives of energy companies visit Downing Street to discuss crisis

The Guardian - UK

Liz Truss hints at cost of living U-turn as she could give Brits 'targeted help'

The Tory leadership hopeful pointedly refused to rule out cost-of-living payments - seconds after branding them “Gordon Brown style economics I don’t support”

Daily Mirror

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Truss rejects ‘Gordon Brown economics’ as Tory candidates address cost of living

Liz Truss was speaking at a hustings debate where Rishi Sunak said he would target pensioners and the most vulnerable for support with fuel bills.

The Independent UK

Liz Truss attacks cost of living 'Gordon Brown handouts' and brands crisis talks 'bizarre'

The Foreign Secretary appeared to make fun of the former Prime Minister who pleaded with the Tory leadership candidates to sit down with the outgoing PM and thrash out an emergency package before a 'financial timebomb'.

Daily Mirror

Who knows if Truss or Sunak is right on the cost of living crisis – where are all the economists?

The profession seems to have gone AWOL, just when we could do with a bit of modelling on tax cuts v handouts, says Guardian columnist Simon Jenkins

The Guardian - UK

Oxford Economics Predicts Saudi Economy to Cross $1 Trln Mark in 2022

Oxford Economics has predicted that the Saudi economy will cross the trillion-dollar mark for the first time this year. The leader in global economic forecasting and econometric analysis pointed out that the growth rate of Saudi Arabia's national product will reach 7.5 % during 2022. The International Monetary Fund has…

Asharq Al-Awsat

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UK economy shrank in second quarter according to poll of economists – as it happened

Rolling live coverage of business, economics and financial markets as analysts weigh risk of recessions across the world

The Guardian - UK

Climate change, scarcity chip away at degrowth taboo

Degrowth - the idea that a finite planet cannot sustain ever-increasing consumption - is about the closest you can get to a heresy in economics, where growth is widely held as the best route to prosperity.

Reuters

Scotland is being held back by the UK's poor economic polices

THE debate around the economics of independence has failed to focus enough on the costs of Scotland staying in – rather than leaving – the…

The National (Scotland)

Bank of England’s dire recession warning too ‘optimistic’ amid gas threat, economists say

‘If Russia were to completely cut supplies and we had a cold winter it would be a perfect storm’

The Independent UK

Viability of Newcastle gas terminal in the balance

The company behind one of the region's largest energy infrastructure projects - the proposed $589 million Newcastle Gas Dock - says unfavourable changes in economics of the gas industry has forced it to weigh up the project's commercial viability.

Newcastle Herald

Inflation rates are rising in the US – an economist explains why

Consumer prices in the U.S. are rising due to inflation at the fastest rate they have in decades. Earlier this summer, SciLine interviewed Martha Olney, a teaching professor emerita of economics at the University of California, Berkeley, about what’s causing prices to rise and what the government can do to…

The Conversation

Corporations' profits soaring as inflation skyrockets and real wages fall, report reveals

There are fresh calls for Australia's biggest corporations to rein in record profits in order to provide low wage earners with some cost-of-living relief.

ABC News

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Evening Standard

Conservative leadership race: Jacob Rees-Mogg accuses Rishi Sunak of ‘fantasy’ economics

New poll shows gap between Tory leadership candidates has narrowed

The Guardian - UK

Rishi Sunak pledges 20% tax cut by end of decade in last-gasp pitch to members

Former chancellor warns party members against ‘fantasy economics’, adding voting for Truss would be ‘self-sabotage’

Reason

OnlyFans Star Aella Talks Sex Work Economics

How sex worker Aella went from factory work to OnlyFans stardom and data science research on fetishes

The Guardian - UK

The difference between the Tory candidates’ tax plans? One is bad, the other is really bad

Neither has the first idea of what they’re doing. Truss’s proposal does little for those who need it, and Sunak’s is a desperate U-turn, says Larry Elliott, the Guardian’s economics editor

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Bangkok Post

Toyota plans $1.8bn Indonesia investment to build electric vehicles

JAKARTA: Japanese carmaker Toyota Motor Corp plans to invest 27.1 trillion rupiah ($1.80 billion, 66 billion baht) in Indonesia in the next five years to produce electric vehicles (EVs), Indonesia's economics ministry said on Wednesday.

The Guardian - US

John Oliver on the causes of the US inflation crisis: ‘An unprecedented perfect storm’

The Last Week Tonight host offers an Economics 101, breaking down the multitude of factors that have caused the worst US inflation in 40 years

Daily Mirror

Keir Starmer vows 'no magic money tree economics' in dig at Tory leadership hopefuls

The Labour leader hit out at 'Thatcherite cosplay' from Rishi Sunak and Liz Truss and said the economy would be 'strong, secure and fair' under Labour

The National (Scotland)

Tory economics led to decade of stagnation in UK economy, LSE report finds

A DAMNING report on the UK economy warns Scotland will continue to suffer no matter who wins the Tory tussle to be the next prime minister.

Tribune News Service

Luke DeCock: UNC coach Mack Brown is now at the mercy of college football monster he helped create

CHARLOTTE, N.C. — College football is out of control, the economics involved becoming so extraordinary that football’s gravitational force is warping the very boundaries of college sports in which it exists. As the ACC reckons with where it fits in this new landscape, at least one coach has come to…

Daily Mirror

Brit drivers told to ignore common speed camera myths as AA reveals how they really work

Researchers estimate the much-loathed cameras have cut death rates and curbed the number of accidents by up to 68%, according to a study by the London School of Economics

Miami Herald

Guatemala’s former economics minister pleads guilty to using Miami bank accounts to pay bribes

MIAMI — A former high-ranking government official in Guatemala has pleaded guilty in Miami federal court to conspiring to commit money laundering while paying hundreds of thousands of dollars in bribes to Guatemalan politicians through the U.S. banking system.

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