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The Latest Breaking News from Economy

The Standard View: Autumn Statement pain is coming, but we need a long-term prosperity plan

Today’s figures confirm what the forecasters and the Bank of England have already predicted: the British economy is shrinking. GDP contracted by 0.2 per cent between July and September, as spiralling prices and energy bills impacted households and businesses.

Evening Standard

Recession news – live: Hunt warns of ‘eye-watering’ decisions amid economic downturn (cloned)

Chancellor warns of ‘tough road ahead’ as economy contracts by 0.2 per cent

The Independent UK

Carl Icahn says ignore Thursday's rally, we aren't out of a bear market

Billionaire investor Carl Icahn reiterated warnings that a recession is coming and that he is keeping his portfolio at Icahn Enterprises hedged

Fortune

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China eases its 'zero COVID' policy with shorter quarantines and fewer restrictions

Authorities in Beijing ease — but don't end — COVID-19 control policies that have kept case counts low but hurt the Chinese economy.

WEKU

UK on brink of longest recession in history as Tories blamed for their 'disastrous economic record'

Labour and the SNP accused the Conservatives of leading the country through a decade of weak growth and inequality.

Daily Record

Lula's market lure fades after Brazil's 'Liz Truss moment'

There is growing investor pessimism that Brazilian President-elect Luiz Inacio Lula da Silva will govern with fiscal discipline as the country's central bank chief likened a market selloff to a "Liz Truss moment for Brazil."

Reuters

UK economy shrinks as economists warn of more pain to come

Statistics show that Britain’s economy shrank in the three months to September, and forecasters are warning of many months of contraction to come

The Independent UK

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Conor Sen: Republicans can’t stop a new wave of government spending

The outcome of the midterm elections has left lingering uncertainty in Washington, including the question of what fiscal policy might look like in the new Congress. But even if Republicans regain control of the House of Representatives and/or the Senate, the landscape as we close out 2022 is completely different…

Tribune News Service

Latest recession warning a 'damning indictment' of Tory governance

THE UK economy shrunk by 0.2 per cent between July and September, in what some experts say could be the start of the longest recession since record…

The National (Scotland)

Economy shrinks in what could be start of a long recession

Latest GDP figures show a 0.2% contraction between July and September

Insider UK

China's Singles Day Shopping Spree Enters Final Stretch

China's Singles Day shopping bonanza entered its final stretch Friday, with all eyes on whether sales can top a record one trillion yuan ($140 billion) despite the country's struggling economy. Conceived by technology giant Alibaba, the informal holiday's title riffs on a tongue-in-cheek celebration of singlehood inspired by the four…

Asharq Al-Awsat

BREAKING: UK economy shrinks by 0.2% in move feared to be start of major recession

GDP fell by 0.2% in the three months to September as services, production and construction industries all slowed down and cost-of-living pressures bite

Manchester Evening News

Recession – live: Hunt warns of ‘eye-watering’ decisions amid economic downturn

Chancellor warns of ‘tough road ahead’ as economy contracts by 0.2 per cent

The Independent UK

UK economy shrinks amid fears of longest recession since records began

Chancellor Jeremy Hunt says ‘tough rough ahead’ as he prepares to slash public spending

The Independent UK

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Daily Mirror

UK economy shrinks by 0.2% in move expected to be start of a major recession

GDP fell by 0.2% in the three months to September as services, production and construction industries all slowed down - and Jeremy Hunt warned of 'extremely difficult decisions' in the Autumn budget

Wales Online

Economy shrinks in what could be start of long recession

The reading comes just a week after the Bank of England published a caveated forecast that the UK might be headed for an eight-quarter recession – the longest consecutive recession since reliable records began in the 1920s

Evening Standard

UK teetering on brink of recession Jeremy Hunt warns it will get even tougher

Recession on way as the big slowdown hits growth

The Guardian - UK

Jeremy Hunt warns of ‘tough road ahead’ as UK economy shrinks

GDP fall of 0.2% for three months to September gives bleak picture in run-up to autumn statement

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The Guardian - UK

FTX files for US bankruptcy protection, CEO Bankman-Fried resigns – as it happened

Cryptocurrency exchange FTX starts bankruptcy proceedings in US and Sam Bankman-Fried is resigning as chief executive officer

The Times of India

China shortens quarantine times, eases flight curbs in Covid Zero pivot

BEIJING: China reduced the amount of time travelers and close contacts of infected people must spend in quarantine, a significant calibration of the Covid Zero policy that has isolated the world’s second-largest economy and raised public ire.

The National (Scotland)

Ross Greer: Scottish Greens have the policies that will put people first

WE can’t stick to the same failed policies that brought us here. An independent Scotland must have an economy that works for both the people and…

The Independent UK

China's muted Singles' Day shopping fest expects slow growth

China's biggest online shopping festival, Singles' Day, is muted this year with sales numbers expected to grow slowly amid an uncertain economy and COVID-19

Reuters

Mexico president talks up strong peso, warns of high interest rates

Mexican President Andres Manuel Lopez Obrador on Thursday said the Mexican peso's strength is good for the economy but warned, hours before the central bank announces its monetary policy decision, that rising interest rates can hurt the economy.

The Independent UK

China promises change but sticks to severe 'zero COVID' plan

Chinese leaders are promising to improve quarantine and other anti-virus policies after public frustration boiled over into protests but said they will stick to a “zero COVID” strategy that has confined millions of people to their homes and disrupted the economy

The Conversation

The inconvenient truth of Herman Daly: There is no economy without environment

Herman Daly had a flair for stating the obvious. When an economy creates more costs than benefits, he called it “uneconomic growth.” But you won’t find that conclusion in economics textbooks. Even suggesting that economic growth could cost more than it’s worth can be seen as economic heresy.

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