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The Latest Breaking News on Economy

Your check's in the mail: States give tax refunds to cushion inflation

DENVER — This month, Colorado taxpayers began receiving refunds from the state government. Joint filers got $1,500, and single filers got $750. Enclosed was a letter from Democratic Gov. Jared Polis, who noted that the checks — required under the state constitution — were being mailed ahead of schedule, due…

Tribune News Service

Gains for consumer confidence again

Consumers have regained some of their confidence, but the services sector has contracted for the first time since the start of the year.

AAP

Fears that poor face second year of benefits cuts after inflation tipped to top 18%

New PM told not to repeat mistake of last April – and ensure payments rise in line with prices

The Independent UK

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George Hook on recession fears admitting debt nearly destroyed his marriage

The former Newstalk presenter also fears Sinn Fein will take his money if elected

Dublin Live

How do interest rates affect inflation?

Borrowing costs already at their highest level in 13 years

The Independent UK

Record $8b 'slippage' in NSW expenditure

An "astonishing" amount of NSW government expenditure pledged in the budget for state projects will not get out the door this financial year.

AAP

Real wages are shrinking as profits are soaring. But are most businesses really raking it in?

Workers are getting a record low share of Australia's national income, while company profits surge. But is it just a temporary phenomenon caused by the commodities boom or a deeper structural crisis in our economy?

ABC News

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How to tackle the UK cost of living crisis – the main economic ideas

Our writers assess and cost the key ideas floated so far, from targeted help to the most vulnerable to a new windfall tax

The Guardian - UK

'There's too much talk of recession,' says Liz Truss

Tory candidate says economic slump is not inevitable

Wales Online

Liz Truss criticises ‘too much talk of a recession’ as she talks up ambition

The Tory leadership frontrunner insisted the outcome forecast by the Bank of England can be avoided.

The Independent UK

Skilled migration needs overhaul: report

A report from Deloitte Access Economics has urged an overhaul of Australia's skilled migration program to help ensure a strong, long-term labour market.

AAP

3 Best Recession-Proof Stocks to Invest in Right Now

As the possibility of the Fed maintaining its hawkish stance to tame the elevated inflation is raising concerns over a potential recession, it could be wise to invest in defensive stocks Dollar Tree (DLTR), UnitedHealth Group (UNH), and Zoetis (ZTS) to make your portfolio recession-proof. Keep reading….

StockNews.com

UK consumer confidence weaker than during major recessions

Monthly look finds deepening pessimism about personal finances and prospects for the economy

The Guardian - UK

Fewer Americans file for jobless benefits last week

Slightly fewer Americans filed for unemployment benefits last week as the labor market continues to be the strongest segment of the U.S. economy

The Independent UK

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The Independent UK

Turkey lowers interest rate even as inflation soars to 80%

Turkey’s central bank has lowered its key interest rate despite inflation surging to nearly 80% and making it difficult for people to buy what they need

Daily Mirror

Cost of living calculator: Find out how much your bills are rising in price

To help you work out how the cost of living crisis is affecting you, The Mirror has created a new calculator to break it all down - from your energy bills to your mortgage

The Guardian - AU

Australia’s jobless rate is only 3.4% – so what’s holding wage growth back?

That the tight labour market isn’t leading to real earnings rises is proof of a ‘deep structural weakness’, says one economist

The Independent UK

What the papers say – August 18

Britain being hit by the worst inflation crisis since 1982 and the stabbing death of an elderly man lead the mastheads.

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Pedestrian.tv

New ABS Data Has Shown Just How Fkd Wages Are Compared To Inflation So Let’s Dive Right In

Wages compared to inflation are very bad according to new data and in the past year our ability to buy things fell the most on record.

The Guardian - UK

UK’s 10% inflation casts doubt on Truss and Sunak’s tax cut promises

Soaring cost of living is forcing up government spending on benefits, pensions and debt leaving no spare cash to lower taxes

Evening Standard

Inflation likely to rise to 15% early next year

Analysts warn of sustained domestic inflation across Britain as food and energy prices surge

The Independent UK

Black and Asian unemployment rate higher than white joblessness, analysis shows

Exclusive: There is a high risk of worsening ethnic inequalities in the labour market, charity warns

Evening Standard

How does the UK’s inflation at 10.1% compare with the rest of Europe?

As double-digit inflation arrives in Britain for the first time since the 1980s, what is going on over the English Channel?

The Independent UK

Zahawi condemns Labour’s energy plan for rewarding ‘wealthier people like me’

The Chancellor said he would rather target support for families struggling with the cost of living.

The Guardian - US

Inflation is causing real pain. But raising interest rates will make it worse

Rate hikes could induce a recession and hurt ordinary people. We need price stabilisation measures instead

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