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The Latest Breaking News from Economy

Godi media is about to change, but it must resist the Lutyens pull

Mainstream media is about to change. It will happen in fits and starts. But it is inevitable.Before I go into the reasons why, let me talk about two terms that Ravish Kumar coined for journalists. The first, godi media, has entered our everyday lexicon. It is a product of the Modi era.…

Newslaundry

Watchdog ends investigation into description of UK economy ‘going gangbusters’

Exclusive: ONS official’s remarks, not intended as comment on overall state of the economy, were later used by Sunak

The Guardian - UK

SNP say the ‘time is now right’ for interest rate cut to help fix 'Tory mess'

A CUT in interest rates is needed from the Bank of England to help fix the “Tory mess” in the economy that has sent mortgage bills and other…

The National (Scotland)

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The Fed was too focused on the soft landing and has stuck the U.S. economy with higher prices, Stifel chief economist says

The Federal Reserve may not have raised interest rates enough, which made the economy run too hot for inflation to fall.

Fortune

The ‘funflation’ economy is dying as a consumer attitude of ‘hard pass’ takes over and major artists cancel concert tours

Without a Taylor Swift or Beyoncé megatour, prices for summer concerts are falling back to normal.

Fortune

Lending to property investors jumps amid rising rents

A pick up in investor lending and housing-related loans more generally comes even as interest rates stay elevated and cuts remain in the distant future.

AAP

McCain: People losing "little luxuries"

The podcaster said she could not believe the "amount of money I'm spending at the grocery store"

Salon

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How AI could roil the next economic crisis

A top policymaker warns AI might shift a garden variety recession into an economic disaster.

Axios

Australia is on the brink of recession. So why does the RBA think we are spending too much?

Are we in a recession? No. But cripes, we may as well be

The Guardian - AU

Private Sector Hiring In US Cools More Than Expected: ADP

Job gains in the US private sector slowed again in May on a slump in manufacturing, payroll firm ADP said Wednesday, in a further sign the world's largest economy could be cooling.

International Business Times

London's small businesses ready to invest £0.5 million each in wave of spending to boost economy

Survey finds that if pent up investment demand could unlock billions as the economy takes centre stage in the election

Evening Standard

Africa Could Help 'Decarbonise' Global Economy, Kenyan President Tells AFP

Kenyan President William Ruto told AFP on Wednesday that Africa could help decarbonise the global economy -- but developed countries need to step up with serious investment to help unlock the continent's potential.

International Business Times

Markets Mixed As US Jobs Data Tempered By Economy Worries

Job vacancies fell far more than expected in April, to below 8.1 million, which Briefing.com said was the lowest level since 2021.

Latin Times

From Utah to Texas, here are the states with the best economies in the U.S., and the worst

As the U.S. continues to hold the spot for largest economy in the world, here are the states with the strongest economies across the country.

Latin Times

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Top News

Asian Shares Mixed As U.S. Economy Slows, Impacting Markets

Asian shares react to U.S. economic slowdown. Market assesses job market data and potential interest rate changes. Oil prices drop, impacting stocks.

The Guardian - AU

When Michele Bullock tells us she’s not for turning in fighting inflation we should believe her

The RBA governor is reminding everyone that her mandate covers not just inflation, but also full employment

The Independent UK

Stock market today: Asian stocks trade mixed after Wall Street logs modest gains

Asian shares are mixed as investors weighed data highlighting a slowing U.S. economy that offers both upsides and downsides for Wall Street

The Guardian - AU

Afternoon Update: economic growth stalls; eSafety commissioner drops X case; and News Corp ‘not obsessed’ with ABC

GDP growth falls to just 0.1% in the March quarter as high interest rates drag on economy

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The Conversation

7 graphs that show economic growth near zero as Australia waits for a budget boost

The Australian economy came close to a standstill in the first three months of this year. March-quarter economic growth sank to just 0.1%, meaning that, when adjusted for inflation, there was hardly any more income, spending or production than the quarter before.

International Business Times

Most Markets Rise On US Jobs Data But Fears Temper Optimism

Equities mostly rose Wednesday on building optimism that the Federal Reserve will cut interest rates before the end of the year after the latest batch of data indicated the long-resilient US jobs market was showing signs of easing.

The Guardian - AU

GDP growth falls to just 0.1% as household cutbacks put handbrake on Australia’s economy

Annual economic growth is down to 1.1%, lower than economists predicted, ABS GDP figures show

AAP

Reserve Bank keeps options open on interest rates

Interest rates could go higher again if inflation proves stickier than expected or moves higher, the head of the Reserve Bank of Australia says.

The Guardian - AU

Younger Australians feel like the game is rigged. And with the spending gap widening, who can blame them?

Older Australians are spending above the inflation rate, counteracting efforts to cool the economy and further disadvantaging younger generations

International Business Times

Mexico's President-elect Moves To Reassure Nervous Investors

Mexican president-elect Claudia Sheinbaum's team reassured investors Tuesday that she would ensure the stability of Latin America's second-biggest economy, after her landslide election win rattled financial markets.

France 24

India's election results show frustration over unequal economic growth

Indian shares plunged and the rupee tumbled after early results showed Prime Minister Narendra Modi's party winning far fewer seats than expected in the country's election, leaving it reliant on coalition partners. Billionaire Gautam Adani's business empire saw nearly $45 billion in its market value wiped off in a single…

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