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The Latest Breaking News from Economy

Odds of US recession within next year climb to 60%, survey shows

Odds now favor that the U.S. economy slipping into a recession within the next year, with economists expecting the labor market and demand will become casualties in the Federal Reserve’s inflation battle.

Tribune News Service

Mexico labor ministry official named new deputy economy minister

Mexico's economy ministry said Friday that Alejandro Encinas Najera, a top labor ministry official, would become the country's new deputy economy minister.

Reuters

Arab League Praises Saudi Arabia’s Balanced Approach in Oil Markets

Arab League Secretary-General Ahmed Aboul Gheit expressed on Friday his rejection of the “negative media campaign against Saudi Arabia in wake of OPEC+’s partial oil cut” last week. A spokesman for Aboul Gheit said the “baseless” statements are “far removed from the truth.” “Rather, they are aimed at politicizing purely…

Asharq Al-Awsat

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Keir Starmer: UK needs election now whether Liz Truss stays or goes

Labour leader says government is ‘completely at end of the road’ and his party is preparing for power

The Guardian - UK

Why Britain's economic mess matters even if you're not British

Britain's economic problems are unique in many ways, but recent events indicate the world economy is entering a new phase.

Axios

Rare family appearance and a TikTok glow-up — Jeremy Hunt’s first Budget

The Chancellor has already lasted longer in the job than his predecessor Kwasi Kwarteng – so does his first Budget fit the serious, “steady” reputation he’s become known for? Katie Strick reports

Evening Standard

Liz Truss rushes out of ultra-short NINE-minute press conference after refusing to resign

The Prime Minister was gone in the blink of an eye after telling the nation she would continue with her mission to grow the economy - despite sacking Chancellor Kwasi Kwarteng and U-turning over corporation tax due to market turmoil

Daily Mirror

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Barges Hit Bottom Of Mississippi River As Water Levels Approach Historic Low

The supply chain across the nation's heartland is facing significant constraints that could have far-reaching consequences into the winter, starting with farmers in the Plains and expanding all the way to the overall economy of the United States

Zenger

How to understand what's going on with UK mortgage rates

The UK mortgage market has tightened as confidence in the economy has faltered in recent weeks. Lenders withdrew more than 1,600 homeloan products after the (then) chancellor Kwasi Kwarteng’s September mini-budget sent the UK economy into a tailspin.

The Conversation

India will come out of current global turmoil, move on path of sustained growth: Finance minister

WASHINGTON: Finance minister Nirmala Sitharaman has exuded confidence that India will come out of the current global turmoil and move on the path of sustained recovery on the back of rapid digitisation and steps taken by the government.

The Times of India

Paid parental leave extended to 26 weeks by 2026, with pressure on dads to share more early caring

Government-funded paid parental leave will be extended, and more pressure placed on fathers to share caring for babies, under an initiative to be unveiled by Anthony Albanese on Saturday.

The Conversation

Canada should take heed of UK turmoil, resist more spending, analysts say

Canadian Prime Minister Justin Trudeau's government should avoid new stimulus when it updates its fiscal plans this fall and focus instead on paying down debt as governments globally face greater scrutiny managing their finances, analysts said.

Reuters

As the causes of US inflation grow, so do the dangers

What keeps driving inflation so high

The Independent UK

Nadine Dorries accuses senior Tories of trying to ‘overturn democracy’ over ‘plot to remove Truss’

Ministers are said to be privately calling for Ms Truss to be ousted because of her handling of the economy

Evening Standard

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Birmingham Post

New Immingham ferry terminal will 'bring confidence to economy' with international trade investment - ABP

Humber port director updates on huge project with Stena Line as consent is about to be sought

Al Jazeera

Xi’s economy sees ‘beautiful life’ in China nationalism, control

Chinese President Xi Jinping is presiding over a new era that prioritises political control over economic development.

Daily Record

Martin Lewis urges UK Government to 'get a grip' on economy as he wins best TV expert at NTAs

The consumer champion used his acceptance speech to highlight his future fears for the cost of living crisis.

Asharq Al-Awsat

Arab League Underlines ‘Grave’ Situation in Middle East

Arab League Secretary-General Ahmed Aboul Gheit underlined on Thursday the “grave” situation in the Middle East. The region has been going through a cycle of protracted crises since 2011 that have affected its security, economy and overall situation, said Assistant Secretary-General of Arab League, Ambassador Hossam Zaki, on Aboul Gheit’s…

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The Independent UK

‘Disastrous’: Martin Lewis issues stark warning about the UK economy at NTAs

The Money Saving Expert founder won the expert prize at the annual TV awards

Daily Record

Galloway Glens Landscape Partnership Scheme enters its final year

The project has been connecting people in the Ken/Dee valley with their heritage, while boosting the local economy and supporting communities

Nottingham Post

Martin Lewis calls on 'somebody to get a grip on the economy' during National Television Awards win

The consumer champion admitted he was surprised to win the prize

The Guardian - UK

Friday briefing: How to understand gilts, yields and the Bank of England’s action to aid the economy

In today’s newsletter: Today the UK central bank is due to end its rare, urgent bond-buying to help stabilise the economy – but why, and what does it mean for you?

ABC News

How OPEC's oil cuts are souring the relationship between the US and Saudi Arabia

The world's major oil producers are slashing the amount of oil they supply. Here's how it could affect the global economy and why US President Joe Biden is disappointed.

Daily Record

Patrick Harvie accused of 'greenwashing SNP failures' for 'holding back' solar power

Lib Dems economy spokesperson Willie Rennie said Scotland needs to expand its renewable energy market.

Daily Mirror

BBC Question Time: Howls of laughter as ‘smiling’ Tory MP says Liz Truss can win election

BBC Question Time panellist Douglas Ross, leader of the Scottish Conservatives, has said that he believes Prime Minister Liz Truss can win an election sparking roars of laughter from the audience

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