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The Latest Breaking News from Inflation

Biden’s student-loan relief adds new wrinkle to inflation debate

President Joe Biden’s plan to forgive a portion of student loans held by tens of millions of people will ripple through the economy as personal spending and savings shift, but no factor will be more closely watched than inflation.

Tribune News Service

3 Buy-Rated ETFs to Fill out Your Portfolio This Summer

Since inflation is still hovering around 40-year highs, the Fed will likely maintain its hawkish stance, which could keep the market under pressure. Therefore, it could be wise to invest in resilient ETFs iShares iBoxx $ High Yield (HYG), iShares MSCI Brazil (EWZ), and Financial Select Sector (XLF), which are…

StockNews.com

Government revision shows economy shrank 0.6% last quarter

The U.S. economy shrank at a 0.6% annual rate from April through June, the government said in a slight upgrade from its initial estimate

The Independent UK

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‘It’s going to hit everyone’: warning from town with highest inflation in England

High levels of poverty and poor home energy efficiency make Burnley’s inflation rate 11.5%

The Guardian - UK

Sony raises global prices of PlayStation 5 outside US market

Gaming console maker says inflation rates and supply shortages have led to ‘challenging economic conditions’

The Guardian - UK

I take solace in the beauty of science in these tough times

We are living in a time of crisis. Inflation is predicted to go over 18 per cent next year. Energy bills are expected to go through the roof. There is strike after strike, people are struggling to get GP appointments, and the police seem increasingly indifferent towards petty crime. There…

Evening Standard

'The only things that haven’t risen with inflation are wages and benefits'

Mirror reader Jacquelyn Allsop asks - If businesses can keep asking for higher prices for their products, why can't we demand higher wages?

Daily Mirror

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Cost of living: How to cope with the rise in prices - OLD

Millions of Britons are struggling as the price of everything soars amid rising energy prices and inflation. Kate Ng turns to financial experts for advice on how to deal with it all

The Independent UK

GCSE grades fall from Covid record high in crackdown on grade inflation

Both pass rate and percentage of top grade drops

The Independent UK

Covid disruption must still be taken into account in 2023 GCSEs, say schools

Calls for mitigation measures to remain come on day 2022 grades show downturn in line with official policy

The Guardian - UK

India economic indicators gave mixed signals on recovery in July

NEW DELHI: India’s business and consumption activity showed conflicting signs of recovery in July as elevated inflation, rising borrowing costs and fears of a global slowdown weighed on Asia’s third-largest economy.

The Times of India

Asian Markets Rise with Eyes on China, Fed Speech

Asian markets rose Thursday after China unveiled fresh measures to boost its economy, while investors awaited a speech by the Fed chair that may hold clues about future rate hikes. Central bankers are meeting in Jackson Hole in the US state of Wyoming, and all eyes are on Federal Reserve…

Asharq Al-Awsat

Asian stocks gain as global markets await Fed chair speech

Asian shares are trading higher as global markets wait for a highly anticipated speech from the U.S. Federal Reserve chair about interest rates at the end of the week

The Independent UK

Inflation hits Dubai's karak tea, a beloved national staple

Karak is informally the national drink of the United Arab Emirates, long priced at just 1 dirham, a bit less than 30 U.S. cents

The Independent UK

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The Independent UK

Inflation's harsh realities on display as Fed officials meet

A half-hour drive or so from the resort where the high priests of international finance have convened in Jackson Hole, Wyoming, to discuss the world’s economic challenges, a food bank distributes meals from a commercial garage

The National (Scotland)

Rishi Sunak compares himself to Thatcher in attack on Liz Truss's tax cut plan

RISHI Sunak said he would not make promises he could not keep when it came to the cost of living crisis, as

The Guardian - AU

What is ‘multi-employer bargaining’? Could it help lift wages growth in Australia?

With workers’ pay rates stagnant for a decade and inflation eating into spending power, here’s what unions are proposing

AAP

Woolworths hopes for return to normalcy

Woolworths says supply chain disruptions, shortages, absenteeism and flooding led to financial performance that was below the supermarket giant's aspirations.

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Reason

Why the IRA Does Not "Grant" the EPA "Broad Authority to Shift America Away from Burning Fossil Fuels"

A New York Times story creates a false impression about the effects of the Inflation Reduction Act's Climate Provisions

The Conversation

Student loan forgiveness – experts on banking, public spending and education policy look at the impact of Biden's plan

President Joe Biden announced a program to provide student debt relief to millions of borrowers of federal loans. The plan would offer up to US$10,000 in forgiveness for people who earn less than $125,000 – $250,000 for couples – and up to $20,000 for Pell Grant recipients. Biden also extended…

StockNews.com

3 Stocks Upgraded to "Top Buys" This Week

The stock market experienced a sharp rebound since July, fueled by renewed investor optimism on several positive factors, including a slight decline in inflation. However, with inflation still hovering around 40-year highs and the possibility of the Fed maintaining its hawkish stance, the market is expected to remain under pressure.…

The Conversation

What can unions and the Albanese government offer each other at the jobs summit?

This article is part of The Conversation’s series looking at Labor’s jobs summit. Read the other articles in the series here.

Chicago Sun-Times

In climate jobs era, here’s what Inflation Reduction Act means for Illinois workers

This new climate jobs stimulus will tip the scales and help us tackle the climate crisis while beginning to reverse 40 years of wage stagnation and widening racial inequality.

Los Angeles Times

Biden will cancel $10,000 of student debt for many borrowers

WASHINGTON — President Joe Biden announced Wednesday that he is canceling $10,000 in student debt for individuals earning less than $125,000 annually and extending a pause on loan repayments for all borrowers through the end of the year.

Evening Standard

Mass redundancies could hit smaller UK businesses, employment expert warns

Employment law firm citation has reported a huge rise in enquiries from SMEs about laying off staff

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