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The Latest Breaking News from Inflation

The market is in a tough place with stubbornly high inflation, a hawkish Fed, and a slowing economy. These conditions are tough for most stocks, but pharmaceuticals are an exception. One of the top companies in the space is Vertex Pharmaceuticals (VRTX). Read on to find out why it's our…

StockNews.com

25,000 of Vladimir Putin’s troops have been killed in Ukraine, says UK Defence Secretary

‘Russia has failed on all its major objectives’

Evening Standard

Shoppers warned of soaring costs as inflation hits highest rate in 14 years

Food prices rose sharply, particularly for fresh foods such as cheese which has been affected by the spiralling costs of fertiliser and animal feed

Chronicle Live

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Asian shares track Wall St drop as inflation fears drag on

Shares have retreated in Asia after another broad decline on Wall Street as markets remain gripped by uncertainty over inflation, rising interest rates and the potential for a recession

The Independent UK

Camelot loses legal bid to stop National Lottery licence handover; UK petrol price at record – as it happened

Camelot loses legal bid to prevent the handover of the National Lottery licence to rival Allwyn

The Guardian - UK

Tesla Bear Michael Burry Predicts Divided Labor Market Amid Inflation, Worker Crunch Woes

Tesla Inc (NASDAQ: TSLA) bear Michael Burry said on Tuesday he anticipates a divided labor market developing at a time when companies are struggling with inflation and worker shortages.

Benzinga

Wednesday briefing: Defence secretary Ben Wallace goes on the warpath over military spending

In today’s newsletter: As Boris Johnson, armed forces leaders and Wallace give mixed signals on military spending plans, Archie Bland tries to make the numbers add up

The Guardian - UK

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The first woman speaker of France's parliament defends the right to abortion

The National Assembly elects Yael Braun-Pivet as speaker as it prepares to tackle proposals on fighting inflation and enshrining abortion rights in the French Constitution.

WEKU

1970s-style stagflation now playing on central bankers' minds

“Stagflation” is an ugly word for an ugly situation – the unpleasant combination of economic stagnation and inflation.

The Conversation

S.Korean office workers hit convenience stores as 'lunch-flation' bites

Office worker Park Mi-won had never bought her lunch from a convenience store, until her favourite lunch buffet recently raised prices by more than 10% to 9,000 won ($7) as South Korean inflation soared to a 14-year high.

Reuters

Shop prices hit highest rate of inflation in almost 14 years

Prices were up 3.1% on a year ago in June, the highest rate of inflation since September 2008, according to the BRC-Nielsen Shop Price Index.

The Independent UK

Boris Johnson tells Nato leaders they must ‘dig deep’ on defence spending as threats grow

Boris Johnson has urged Nato allies to “dig deep” and spend more on defence, warning that threats to the West over the next decade are set to grow.

Evening Standard

US consumers less confident as anxiety over future grows

U.S. consumers were less confident again in June as persistent inflation and rising interest rates have Americans as pessimistic as they’ve been about the future in almost a decade

The Independent UK

California Fights Inflation by Sending People Free Money

Plus: A New Hampshire distiller fights invasive species by turning them into whiskey, a New York City law letting non-citizens vote is overturned, and more...

Reason

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StockNews.com

3 Bargains Yielding 7% Or More

In the face of rising inflationary pressures, aggressive interest rate hikes, and increasing recession fears, the major stock market indices have witnessed major sell-offs over the past couple of months. Given the current market volatility, we think fundamentally sound dividend stocks ARC Document Solutions (ARC), Nippon Steel (NPSCY), and A.P.…

Al Jazeera

Investors excited by Zimbabwe plan to mint gold to curb inflation

President Mnangagwa is reportedly desperate to shed some of the legacy economic problems his administration inherited.

The Independent UK

Cost of living crisis 2022: How to cope with the rise in prices

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

Boris Johnson set to ditch Tory manifesto promise on increased defence spending

Covid pandemic means ‘reality check’ on above-inflation pledge, government admits as PM heads to Nato summit

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The Guardian - UK

Boris Johnson seeks to defuse row over abandoning defence spending pledge

PM insists manifesto promise of above-inflation increase will be kept despite Downing Street ‘reality check’ briefing

The Independent UK

Boris Johnson faces defence spending row as Nato leaders gather

Soaring inflation and the battered public finances have left a Tory commitment to annual real-terms increases in defence spending in jeopardy.

Daily Mirror

Boris Johnson poised to ditch key UK defence spending promise despite Russia's war

The Prime Minister will trumpet Britain's 2% of GDP spending on defence - but another part of his policy, to raise spending above inflation, could soon be scrapped. It came as Boris Johnson insisted "I don't think" Britain will end up at war with Russia

The Independent UK

Europe's central bank ready to 'stamp out' surging inflation

The head of the European Central Bank says it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out” inflation if it surges faster than expected

The Guardian - UK

Royal Mail staff vote on ‘biggest strike’ of summer as tram walkout begins

Union claims postal workers are facing a massive pay cut because of soaring inflation

WEKU

Also hit by inflation? Your local taco truck

Higher prices for gasoline, meat and vegetables and even cooking oil have put pressure on food trucks as they struggle to balance menu prices with customers' expectations of a low-cost meal.

WEKU

Inflation killed the $1 pizza slice. Long live the 99c iced tea

A viral tweet claimed the AriZona Iced Tea was raising its price from 99 cents to $1.29. It wasn't true, but could it happen in the near future?

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