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The Latest Breaking News from Economy

Recession forecast explained: What you need to know

The UK’s central bank has predicted a long recession and eye-watering inflation

The Independent UK

Inflation: why it's happening and why interest rates are going up to combat it

Soaring prices have forced central banks in many developed countries to raise their interest rates in recent weeks. These organisations are in charge of attempts to rein in rising costs that are threatening to wreak havoc on household budgets in coming months.

The Conversation

What is 'stagflation' and how is it different from inflation as UK faces recession

When an economy is ravaged by high inflation and stagnated growth, economists brand it 'stagflation' to describe the nightmare combination. The UK economy is heading that way

Daily Mirror

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Pacific rim economies in doldrums, sapped by inflation, war

Economies in the Asia-Pacific are forecast to hit the doldrums this year as decades-high inflation and the war in Ukraine add to uncertainty and the aftereffects of the pandemic

The Independent UK

EXPLAINER: How do we know when a recession has begun?

The U.S. economy has contracted for two straight quarters, intensifying fears that it is on the cusp of a recession, if not already in one, barely two years after the pandemic downturn officially ended

The Independent UK

Tax remains key divide as leadership campaigns respond to economic outlook

Liz Truss’s campaign has argued for implementing tax cuts quickly, while the Sunak campaign has warned against too much borrowing.

The Independent UK

Liz Truss: Who is the foreign secretary hoping to become prime minister?

Social media savvy ‘human hand grenade’ seen as continuity candidate and currently ahead of Rishi Sunak thanks to questionable tax promises and neo-Thatcherite branding

The Independent UK

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Sunak defends taking money from deprived urban areas as he faces latest hustings with Liz Truss – as it happened

Candidates face Tory members in Eastbourne; former chancellor, who was filmed saying he tried to divert funds from ‘deprived urban areas’, says it was sensible

The Guardian - UK

Saudi MAWANI Adopts Regulations in line with Commercial Maritime System

The Saudi Ports Authority (MAWANI) has revealed a new set of regulations governing the activities of shipping agents in the Kingdom’s maritime sector, which comes in line with the objectives of the National Strategy for Transport and Logistics Services. The strategy aims at enhancing the services provided by shipping agents,…

Asharq Al-Awsat

As recession fears grow, strong US hiring is likely slowing

The American job market has defied raging inflation, rising interest rates, growing recession fears

The Independent UK

Cost of living squeeze deepens as recession looms; Felixstowe port strike dates set – as it happened

Strike action will begin on 21st August after talks failed to produce a reasonable pay offer, says Unite union

The Guardian - UK

Saudi Revenues Jump 50% in 1st Half of 2022, with $36 Bn Surplus

In a performance that exceeded the targeted budget surplus for 2022, the Saudi Ministry of Finance disclosed on Thursday a record increase in revenues during the first half of this year, driven by a surge in oil prices and the fast growth of the non-oil sector. Experts told Asharq Al-Awsat…

Asharq Al-Awsat

Asian stock markets rise ahead of US jobs data

Asian stock markets are higher ahead of an update on the health of the U.S. jobs market while the Federal Reserve weighs whether more rate hikes are needed to cool surging inflation

The Independent UK

Sinema ready to advance Democrats' budget bill after tax changes

WASHINGTON — Sen. Kyrsten Sinema, D-Ariz., announced late Thursday night that she is willing to “move forward” on Democrats’ tax, climate and health package after leaders agreed to drop a provision modifying the taxation of "carried interest" and make other tweaks to "protect advanced manufacturing and boost our clean energy…

Tribune News Service

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ABC News

Reserve Bank wary of cautious consumers amid falling house prices, as global economy sours

The Reserve Bank slashes its forecasts for economic growth as rate rises, house price falls and a souring global economy weigh on Australia's outlook.

Bangkok Post

The potential of sustainable wood

Forests are not just the lungs of the planet: they have huge potential, if managed sustainably, to become a major source of welfare, income and renewable products as part of a more healthy global economy.

Daily Mirror

Britain heading for year-long recession - but PM and Chancellor nowhere to be seen

Prime Minister Boris Johnson is reportedly on honeymoon in Slovenia while Chancellor Nadhim Zahawi enjoys a family break while families around the country are worried about how they'll pay their bills

The Guardian - UK

Sunak scorns Truss’s claims that tax cuts can avert recession

Tory leadership rivals disagree on how to turn economy around and avoid predicted downturn in Sky news debate

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news in one place.

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Reuters

Sunak and Truss clash over recession warning in debate

British foreign minister Liz Truss clashed over the future of the economy with former finance minister Rishi Sunak on Thursday as the two contenders to be Britain's next prime minister debated the Bank of England's warnings of a long recession.

The Independent UK

Sunak accuses Truss of plans that would pour ‘fuel on the fire’ of recession

Rival insists shrinking economy is not ‘inevitable’

Evening Standard

Andrew Bailey hits back at claims Bank of England too slow to raise interest rate

The shocking assessment of the economy has reset the backdrop for the Conservative leadership contest

StockNews.com

3 Under the Radar Penny Stocks to Buy Now

The Fed’s aggressive interest rate hikes and the economy's contraction for two consecutive quarters have increased the odds of a potential recession. Nevertheless, robust corporate earnings and some positive economic data have greatly supported the downside of the benchmark indexes lately. Therefore, we think it could be wise to invest…

Tribune News Service

Meet the doomsayers: 5 who say US economy will keep shrinking

Only a minority of economists correctly predicted that the U.S. economy would contract last quarter. The number who expect it to keep shrinking in the current period is even smaller.

The Hindu

Is the declining rupee a crisis or an opportunity?

There is an expectation of further depreciation, which can lead to further capital outflows

The Hindu

Waiting for democracy in Jammu and Kashmir

The long haul back to stabilisation from a dangerous situation needs to begin; the first step is Assembly elections

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