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The Latest Breaking News from Economy

Fed keeps rates unchanged for first time in 15 months as inflation slowly eases

The Federal Reserve’s move to leave its benchmark rate at about 5.1% suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation.

Chicago Sun-Times

Corporate ‘greedflation’ could lead to a ‘deeper for longer’ recession, top investment bank strategist warns

Greedflation may force the Federal Reserve to keep interest rates “higher for longer” to fight inflation, pushing the economy into recession.

Fortune

French minister Schiappa quizzed by Senate over 'Marianne Fund' payments

During three hours of grilling by a Senate committee, the minister for the social economy and associations, Marlène Schiappa, denied Wednesday that she had favoured the main beneficiary of the "Marianne Fund" an entity she helped set up in the spring of 2021.

Radio France Internationale

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American Airlines adds bag charges for basic economy travelers on international trips

American Airlines is charging all customers who book basic economy airfares to check bags.

Tribune News Service

Federal Reserve officials announce pause in US interest-rate hikes

Even with the pause, Fed officials suggest further increases may come depending on how close economy gets to 2% inflation target

The Guardian - US

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

Treat culture: Millennials and Gen Zers are rebelling against the rough economy with little purchases that keep the malaise at bay

Late-stage capitalism has the youth spending on the smallest pleasures. "It's almost like your Sisyphean existential rebellion via artisanal ginger ale."

Fortune

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US slips in supply-chain ranks after child-labor violations

The U.S. has joined a list of mostly emerging-market countries where ESG supply-chain risks are “high,” after the world’s richest economy failed to provide adequate protections for vulnerable populations including migrant children, according to a fresh study.

Tribune News Service

Upwork (UPWK) and Fiverr (FVRR): Two Ways of Approaching the Same Problem

While an argument can be made that either Upwork or Fiverr is superior to the other, the reality is that both UPWK and FVRR represent very similar investments.

Barchart

Cabinet clears 14th Five-year Plan approach paper

It aims to transform Kerala into a modern economy founded on democratic values, sustainable development, social welfare, and scientific temper.

The Hindu

Campus placements in Mysuru exceed expectations indicating economic buoyancy

Camps placements in some of the engineering colleges in Mysuru have exceeded expectations in the current cycle of recruitments reinforcing the view of buoyancy of the economy.

The Hindu

Keir Starmer dares Rishi Sunak to call immediate general election

Labour leader says PM is more focused on Tory wrangling over honours than on economy and asylum

The Guardian - UK

Canada needs to set its businesses up for success in the clean energy transition

Canada committed to the United Nation Sustainability Development Goals (SDGs) in 2015. These 17 goals aim to “achieve peace and prosperity for people and the planet.” This is an important, yet challenging, undertaking.

The Conversation

How a UK hydrogen car industry could cut fuel costs and carbon emissions

British car company Jaguar Land Rover’s owner, the Indian conglomerate Tata, is expected to finalise a deal soon to build a multi-billion pound electric vehicle (EV) battery plant in the UK.

The Conversation

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The National (Scotland)

Circular Economy Bill to tackle Scotland's 'throwaway culture', says minister

LEGISLATION to tackle waste and improve recycling rates has been introduced to the Scottish Parliament, including powers which would give local…

Daily Record

Hope for flagship unit revamp success amid glut of closures in Perth city centre

Restaurant and flats plan at former Lakeland outlet on St John Street given green light

Manchester Evening News

UK economy returns to growth after Brits spend more in pubs, bars and shops

The UK's GDP was boosted by 0.2 percent in April after a fall in March

Al Jazeera

How Emefiele, Nigeria’s powerful central bank chief lost his seat

Godwin Emefiele was second-longest-serving governor of Nigeria’s central bank and oversaw its biggest economic downturn.

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The Guardian - UK

UK economy returns to slender growth as spending in pubs lifts output

GDP rose by 0.2% in April, with rising car sales and reduced impact of strikes also playing a part

The Independent UK

UK economy returns to growth in April as consumer spending improves

Strong month for bars and pubs, analysts say

Chronicle Live

Energy bills could rise for almost a million families after major meter change

Hundreds of thousands of homes still have legacy electricity meters fitted - and they will be turned off next Spring

The Guardian - UK

Pound hits one-year high as more interest rate hikes loom; UK grows in April; WE Soda cancels London float – as it happened

UK economy has bounced back from March’s contraction, but experts fear rising interest rates will cause recession

The Independent UK

Federal Reserve is likely to skip a rate hike at pivotal meeting Wednesday yet signal more to come

The Federal Reserve, having raised interest rates at the fastest pace in four decades, is poised Wednesday to leave rates alone for the first time in 15 months to allow time to gauge the impact of its aggressive drive to tame inflation

Bangkok Post

'Political vacuum' sparks jitters

The private sector has expressed concern that any delay in the formation of a new government may have an adverse impact on the economy.

Fortune

Wall Street's biggest bull called this year's stock market rally—now instead of a recession, he says ‘the economy is actually slipping into an expansion’

Fundstrat’s Tom Lee is known for his bullish takes. He called a 20% S&P 500 rebound this year, and it’s up over 14% so far.

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