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The Latest Breaking News from Economy

Rishi Sunak making economy even worse than ‘arsonist’ Liz Truss, says Labour

Exclusive: ‘The grown-ups have got us into an even worse position,’ says Rachel Reeves – as mortgage rates rise again

The Independent UK

The leeches aren’t healing our sick economy, so Hunt and Bailey will only prescribe more

City comment: Jeremy Hunt thinks the main problem is that you and I just have way too much money

Evening Standard

‘Suit up for the backlash!’: The battle to regulate New York’s gig economy

The progressive politician Brad Lander says his attempts to establish a minimum wage for food delivery workers have met well-funded resistance from the sector’s leading companies

The Guardian - UK

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Charities call for action from First Minister on wellbeing economy

MORE than 200 charities, unions, academics and campaigners have signed a letter to Humza Yousaf calling for action on the implementation of a…

The National (Scotland)

Rishi Sunak's key pledge dealt a blow as UK economy shrinks

RISHI Sunak’s core pledge to “grow the economy” has been dealt a blow after the latest statistics showed the UK economy contracted over the…

The National (Scotland)

UK economy shrinks slightly after coronation bank holiday

Contraction driven by royal occasions, meaning sectors like construction and finance lost a working day, Office for National Statistics says

The Independent UK

Pound hits 15-month high as UK GDP shrinks in May; sickness threat to economy – business live

UK GDP report for May shows that factory output and construction shrank during the month, with some blaming extra bank holiday

The Guardian - UK

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‘Cause for concern but not panic’ — UK economy shrinks by 0.1% in May as bank holidays hit GDP

The extra bank holiday in May for the King’s coronation played a part in the decline

Evening Standard

UK economy shrinks by 0.1% in May after coronation festivities

GDP fell month on month after growth of 0.2% in April, reports ONS

The Guardian - UK

Pattaya confronts slow rebound

Tourism operators on the Eastern seaboard project a restrained year in terms of revenue as Chinese visitors trickle back as their economy struggles.

Bangkok Post

Campaigners call for Yousaf to take action on wellbeing economy

Letter to First Minister urges use of devolved tax powers to invest in social security, universal basic services and environmental improvements

Insider UK

Biden wants voters to notice inflation drop. Republicans say people are put off by everyday prices

The politics of inflation took a sharp turn with a new report showing consumer prices rose at the slowest pace since the early months of Joe Biden’s presidency

The Independent UK

The Guardian view on economic decline: Labour can break the doom loop

Editorial: Keir Starmer has earned the right to tell a different story about the way Britain’s economy can work

The Guardian - UK

June CPI Report: What the Experts Are Saying About Inflation

Inflation eased markedly last month, but that won't keep the Fed from raising interest rates, pros say.

Kiplinger

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Newsroom.co.nz

Reserve Bank's meat is retailers' poison

Not everyone will be pleased the RBNZ's drastic measures to cool the economy appear to be working, reports Nikki Mandow

Bangkok Post

Volatile politics set to hit economy

Kasikorn Research Center (K-Research) expects the domestic political situation to be a key factor affecting the Thai economy in the second half of this year.

The Hindu

BJP signals a change in tack on Kerala’s bid built a rapid rail system

BJP signals shift in stance on SilverLine; K. Surendran visits metro rail expert E. Sreedharan, suggests high-speed railway system as viable alternative to LDF's K-Rail project. BJP leader quotes Sreedharan saying high-speed railway would serve economy better without taxing families or environment. UDF yet to respond.

The Guardian - AU

Where to next for the Australian economy, the RBA – and Philip Lowe?

The Reserve Bank governor will soon find out if his term has been extended – but economic hints from major banks tell a happier story than expected

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Fortune

Back-to-school spending is expected to fall for the first time in 9 years, a $3 billion hit to the economy, survey finds

Deloitte projects an average spend per child of $597, compared to $661 in 2022 and $612 in 2021.

The Conversation

Tanzania's gas boom that never was – when local hopes are dashed by global realities

Rising international commodity prices can shape or reshape the fortunes of places. When large mining and oil and gas prospectors suddenly show an interest, a remote area can become a resource frontier – a place that’s far from the socioeconomic centre of a country but important to its economy.

Fortune

Canada may have just created the first efficient building retrofit market. The U.S. should take note

Homes and buildings account for 40% of U.S. energy consumption and at least 30% of U.S. greenhouse gas emissions–more than any other sector of the economy.

Daily Mirror

Shamed Liz Truss hides at launch of her own new Growth Commission to 'fix economy'

The former Prime Minister, who crashed the economy in her 49-day stint in No10, insisted growth was a 'long game' as she introduced a new research institute to enact her vision

The Guardian - UK

Economic gloom looks likely to sink the Tories. But Labour is taking no chances

Come the general election, the worst of Britain’s pain may be over, so Starmer’s slow and steady approach is the right one, says Guardian economics editor Larry Elliott

Wales Online

Huge £27m written off by 'embarrassing' Welsh Government flagship investment fund

The Wales Life Sciences Investment Fund pumped £50m into fledgling businesses, some of which failed to deliver on their promise

Birmingham Post

Welsh Government life sciences investment fund closing after £27m in write-offs

The Wales Life Sciences Investment Fund was launched in 2013 and invested £50m in new firms.

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