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The Latest Breaking News from Economy

OECD details 'hefty price' of Ukraine war on global economy

Russia's war in Ukraine is derailing the global economy's recovery from the pandemic. The Organisation for Economic Cooperation and Development (OECD) is the latest to slash its forecast for economic growth, warning of high inflation and a possible food crisis. Also in the show: India's central bank raises interest rates…

France 24

Will California be a November firewall for Democrats? Five takeaways from Tuesday’s primary

SACRAMENTO, Calif. — California voters could determine who controls the U.S. House next year, and Tuesday’s primary offered strong clues as to what matters to them — crime, the economy and maybe Donald Trump.

Tribune News Service

Fuel cost surge and dire economic forecast shatter PM’s hope of reset

Zero-growth warning for UK as petrol prices surge and OECD says Britain will be weakest economy in G7 next year

The Guardian - UK

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US stocks will confront an earnings recession by the end of 2022

There are pervasive, and increasingly pronounced, signs that U.S. equities will be in a profit recession before the end of this year. Target Corp.’s warning on margins yesterday is emblematic of the problems faced by firms in an inflationary regime. Even if an economy-wide recession is avoided, the backdrop for…

Tribune News Service

Levelling Up 'thin on new ideas and very short of money' says Lord Mandelson

The former North East MP and Cabinet Minister has given a speech in the region to discuss politics, the economy, Brexit and other matters

Chronicle Live

Inflation fuels Americans' recession angst

The White House has gone to great lengths to tout the booming labor market. But stubborn inflation may trump all.

Axios

Tory calls for 'indyref2 plans to be scrapped' fall flat in Holyrood vote

A SCOTTISH Conservative motion aimed at having Holyrood agree to cancel plans for a second independence referendum has failed.

The National (Scotland)

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Irish Government ‘ignoring’ unionists’ concerns over protocol

Sir Jeffrey Donaldson said the protocol has left him being treated like a second-class citizen.

The Independent UK

4 Buy-Rated Mid-Cap Stocks to Buy in June

Concerns about the potential for the economy to slip into a recession because of the Fed’s aggressive monetary policy tightening have fostered significant market volatility of late. While many analysts don’t expect inflation to increase further, investor uncertainty might persist through the end of this year. Therefore, we think the…

StockNews.com

Worry about stagflation, a flashback to '70s, begins to grow

Stagflation

The Independent UK

UK economy to flatline in 2023 as cost of living crisis curbs spending , warns OECD

Inflation set to rise to levels “not seen since the Seventies.”

Evening Standard

There’s a simple way to fight the cost of living emergency: a £15 an hour minimum wage

Opponents say this will lead to a wage-price spiral – but that’s an argument that’s stuck in the 1970s, says Labour MP Nadia Whittome

The Guardian - UK

Amazon To Cease Gig Economy Delivery Service In Second Largest Market

Amazon.com Inc (NASDAQ: AMZN) looks to shut down its gig economy delivery service in Germany, its second-largest market after the U.S., for undisclosed reasons,

Benzinga

Tories under pressure as report says UK economy will grind to a halt next year

THE UK economy will grind to a halt next year and will only be better than Russia’s among the G20, the OECD forecast on Wednesday.

The National (Scotland)

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Reuters

Analysis: Colombia's extractive industries watching election warily

Colombia's leftist firebrand presidential candidate Gustavo Petro is too close in recent polls for the comfort of oil companies and miners who worry that his promised policies would imperil Colombia's economy and energy self-sufficiency, high-ranking industry figures and business associations said.

The Independent UK

UK on brink of recession and will fall behind all major economies except Russia, OECD warns

Zero growth forecast for Britain next year and global average slashed to 2.8 per cent

The Guardian - UK

UK to be major economy worst hit by Ukraine war, says OECD

Thinktank forecasts UK growth to slow to standstill in 2023, as impact of conflict felt

Birmingham Post

'Extremely challenging' recruitment in hospitality and tourism is costing economy billions of pounds

Some pubs and restaurants closing an extra day, hotels closing some rooms and sometimes paring down dinner numbers

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Birmingham Post

Wales Fast Growth 50: search on to find the fastest growing Welsh firms in 2022

Since being launched in 1999 firms on the annual lists of the fastest growing 50 firms in Wales have created additional revenues of £27bn

Wales Online

Why takeaway deliveries may not survive the cost of living crisis

Takeaway and ride-hailing apps boomed during the pandemic but are now under critical pressure

Manchester Evening News

Residents' relief... and council's dismay: Reaction to HS2's 'Golborne Spur' being scrapped

“To say I have put hundreds of hours into this campaign would be an understatement."

Dublin Live

Irish night-time economy to get huge transformation as pilot programmes set to launch

Dancing could continue in nightclubs until as late as 6am and work is being done on a massive overhaul of the country’s antiquated drink laws

Irish Mirror

Timeline for major Ireland nightlife overhaul with new after-dark events and nightclubs open to 6am

Nightlife in Ireland is set for a transformation in the coming months with the creation of a new nighttime economy that will see later openings and more cultural events into the night

The Independent UK

Japan's economy contracts, but at smaller rate than thought

The government says Japan's economy contracted in the first quarter though at a slower rate than expected

Bangkok Post

Prayut urges steady interest rates

Prime Minister Prayut Chan-o-cha called on the central bank to maintain its policy interest rate on Tuesday to curb a capital flight and support the domestic economy.

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