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The Latest Breaking News from Economy

German government: Economy to shrink in 2023 as war bites

The German government has slashed its growth forecast for this year and predicted that Europe’s biggest economy would shrink in 2023 as it deals with the fallout from Russia’s war in Ukraine, including Moscow cutting off natural gas supplies

The Independent UK

Liz Truss ‘lost in denial’, says Keir Starmer as PM claims she won’t cut public spending

PM jeered in Commons after insisting she has ‘protected’ UK economy

The Independent UK

What it means for the economy to 'shrink' - and how it affects our money

The economy looks as though it will go into recession after figures show it 'unexpectedly' shrank in August.

Daily Record

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The end of Labour’s drama detente shows Starmer means business

Labour has been a drama-free zone over the past few weeks as the Conservative Party terrorises the economy and morphs into a circular firing squad. That was until Monday night when a Labour MP was deselected by his local party. Sam Tarry, who represents Ilford South, lost a battle to…

Evening Standard

Smarter Australia: Census reveals sectors with massive growth

Australia is rapidly transforming into a highly qualified nation where vast numbers are taking jobs in fields like cybersecurity.

The New Daily

Liz Truss promises NO cuts despite '£60bn needed' as Keir Starmer blasts her 'madness'

Liz Truss was facing angry MPs who are demanding she tears up more of her mini-Budget - after a month with no PMQS that has been marked by U-turns and financial turmoil

Daily Mirror

Tory ex-Health Minister backs more free school meals - piling pressure on Liz Truss

Lord Bethell, who served under Boris Johnson, said ensuring all children in Universal Credit households get free school dinners would boost the economy by helping kids learn and improving their health

Daily Mirror

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‘It’s humiliating’: US voters struggle with hunger ahead of midterms

Economy in focus: Despite rising inflation and soaring grocery prices, food insecurity is a topic few politicians are addressing

The Guardian - US

Nirmala Sitharaman says budget to address growth, inflation concerns

Finance Minister Nirmala Sitharaman identified high energy prices among the biggest problems facing the Indian economy in the near future

The Hindu

Tetchy Jacob Rees-Mogg suggests mini-Budget had nothing to do with economic chaos

In a tetchy interview, the Business Secretary accused the BBC of breaching its impartiality guidelines by questioning him on the fallout after Chancellor Kwasi Kwarteng's tax-cutting blitz spooked markets

Daily Mirror

South West businesses blame 'hare-brained' mini-Budget as recession risk rises

The cost-of-living crisis is taking its toll on businesses with firms calling on the government to do more to help

Birmingham Post

IMF Confirms Saudi Economy’s Growth Forecast in Coming Years

The International Monetary Fund (IMF) confirmed its economic growth forecast for Saudi Arabia for the current year at 7.6 percent, the exact forecasts for July and April. Earlier, the Fund increased its expectations twice for the Saudi economy in 2022, making the Kingdom the only country among the G20 whose…

Asharq Al-Awsat

What Does Prophetic Paul Tudor Jones Have To Say About Economic Future

Billionaire hedge fund manager Paul Tudor Jones sees continued weakness ahead as the U.S. economy heads for recession.

Zenger

Stellantis details 'circular economy' business unit to get most use from parts

A new division of the maker of Jeep SUVs and Ram pickup trucks has the mission of ensuring the vehicles and their parts last as long as possible as the industry battles parts constraints and fears of electric-vehicle battery shortages in the future.

Tribune News Service

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Asharq Al-Awsat

China Signals No End to Zero-Covid Curbs

China's state media on Wednesday signaled no let-up in its strict zero-Covid policy to guard against coronavirus strains, publishing an editorial -- the fourth this week ahead of the Communist Party Congress -- vowing to never "lie flat" on virus controls. The messaging dashes widespread hopes from the Chinese public…

The National (Scotland)

Risk of recession rises as UK economy shrinks in August

THE risk of a recession has risen after the UK’s economy shrank in August as factories and consumer services firms struggled, according to…

The Independent UK

Jacob Rees-Mogg claims parts of economy in ‘good state’ and insists pensions safe

Cabinet minister clashes with BBC host – and reveals his own mortgage payments have gone up

The Guardian - UK

‘Significant’ rate rise needed in November, warns Bank of England chief economist – as it happened

UK government bond selloff continues, pushing 20-year gilt yield to 20-year high, as BOE reiterates bond-buying programme will end on Friday; UK economy on brink of recession

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Asharq Al-Awsat

Syrian Pound Hits Record Low on Black Market

Syria's pound hit a new low against the dollar on the black market Tuesday, according to websites monitoring the exchange rate, in the latest blow to the war-battered economy. The exchange rate reached more than 5,000 Syrian pounds to the US dollar for the first time since the start of…

Wales Online

UK economy unexpectedly shrinks

The Chancellor has blamed Vladimir Putin

The Guardian - UK

UK economy shrinks by 0.3% on back of manufacturing slump

August GDP data from ONS gives strong signal that UK is entering recession

The Independent UK

UK economy shrank by 0.3% in August, ONS figures show

Experts expected economic growth to flatline in August

Evening Standard

UK economy shrank in August raising new fears of imminent recession

The economy shrank by 0.3 per cent in August raising new fears of an imminent recession.

The Times of India

Joe Biden admits 'very slight' US recession possibility

WASHINGTON: President Joe Biden said a recession in the US is possible but that any downturn would be “very slight” and that the US economy is resilient enough to ride out the turbulence.

The Independent UK

California broadens nation's largest pot eradication effort

California’s four-year-old legal marijuana market is in disarray

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