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The Latest Breaking News from Economy

Liz Truss and Rishi Sunak tear into each other as Britain heads for recession

Both candidates to be the next Prime Minister questioned the other's approach as Labour warned that the Tories "have lost control of the economy"

Daily Mirror

Applications for US jobless claims up again last week

More Americans applied for jobless benefits last week as the number of unemployed continues to rise modestly, though the labor market remains one of the strongest parts of the U.S. economy

The Independent UK

'Final straw' warning for struggling hospitality sector as recession threat looms

SOARING interest rates could be the “final straw” for struggling hospitality businesses, industry leaders have warned as the UK economy faces a…

The National (Scotland)

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UK faces long recession and deepest plunge in living standards on record, Bank of England warns

Country to enter recession this year and economy on course to shrink for five straight quarters

The Independent UK

Key WA businesses want more done to address state's chronic skilled worker shortages

Major West Australian businesses want barriers to migration dropped to boost the number of skilled workers able to enter the state.

ABC News

Asian shares rise on optimism on economic data, earnings

Asian shares are mostly higher as investors welcome encouraging economic data and quarterly earnings reports from big companies

The Independent UK

Bank of England hikes interest rates and warns UK to enter recession with inflation to pass 13% – as it happened

Interest rates rise to 1.75% – the biggest jump in 27 years – as BoE warns UK faces long recession as high gas prices hit households

The Guardian - UK

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Indonesia’s PayPal, Yahoo bans cast cloud over tech hub dream

Jakarta’s temporary blocking of websites highlights tension between desire to rein in internet and grow digital economy.

Al Jazeera

Sunak, Truss and the Bank of England are lying to you – the UK economy is weak and rigged

Westminster is perpetrating the same scam as the rate-setters – bluffing that they can get the old economic machinery working like before, says Guardian columnist Aditya Chakrabortty

The Guardian - UK

Is Bank of England about to break precedent on interest rates?

Markets expect 0.5 percentage-point rise for first time since independence as inflation rises

The Guardian - UK

Why China is not sanctioning Taiwan’s key chip industry

Beijing relies on self-ruled island’s semiconductors to keep its economy on track.

Al Jazeera

Argentina's latest economy minister warns he is no magician

Argentina’s third economy minister in a month has been sworn in, and as his first order of business Sergio Massa is seeking to bring down sky-high expectations for his tackling of the country's economic woes

The Independent UK

Policy rate rise expected

The meeting of the Bank of Thailand's Monetary Policy Committee (MPC) next week is expected to raise the policy rate by 0.50%, according to Pipat Luengnaruemitchai, chief economist of KKP Research under Kiatnakin Phatra Securities Public Co.

Bangkok Post

Land prices in Bangkok keep slowing

Prices of vacant land in Greater Bangkok are growing at a slower pace due to the sluggish economy and the full collection of the land and building tax, which started this year.

Bangkok Post

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The Conversation

How the St. Lawrence Seaway will continue to become more important to Québec's economy

The St. Lawrence Seaway is made up of a broad network of interconnected infrastructures. Channels, canals, port facilities and fleets illustrate the connections between transportation equipment, industrial production and the artificial, human-made environment.

Benzinga

Stock Market Rally Continues Despite Repeated Fed Rate Hike Warnings

The SPDR S&P 500 ETF Trust (NYSE: SPY) has rallied 3.2% in the past five days as investors seem to be taking an increasingly bullish tone toward the health of the U.S. economy, particularly on the inflation front.

Tribune News Service

Iran and US to resume talks in new bid to save nuclear deal

Diplomats from the U.S., Europe and Iran are set to return to Vienna after months of deadlock for another attempt to save their moribund nuclear deal, as high energy prices continue to stalk the global economy.

The Guardian - UK

The Guardian view on the economy: a mess the Bank is making worse

Editorial: A hike in interest rates does nothing to stifle inflationary pressures and adds to the pain for firms and households

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The Independent UK

Javid accuses Sunak of sleepwalking into a high-tax economy as he endorses Truss

Former chancellor warns “tax cuts now are essential”

The Guardian - AU

Australia’s economy is set to grow slower than it ever has outside of recession. This is bad news for our standard of living

The economic growth forecasts are truly dire and point to rising unemployment and falling wages growth

The Guardian - UK

Sajid Javid endorses Liz Truss in fresh blow to Rishi Sunak’s campaign

Conservative MP says Truss is best placed to ‘reunite the party’ and new approach on economy is needed

Daily Mirror

Sajid Javid backs Liz Truss while making 'sleepwalking' jibe about Rishi Sunak

Mr Javid, who had kept his cards close to his chest, warned that Rishi Sunak's policies would lead Britain “sleepwalking into a high-tax, low-growth” economy

WEKU

Ukraine's wedding dress industry is alive and well, despite the war

The town of Chernivtsi, once the wedding dress capital of the Soviet Union, is still churning out dresses — for the West. "We are staying in Ukraine," says a dressmaker. "We will build our economy."

Birmingham Post

Second bid for levelling up cash to support Tyne offshore and subsea sectors

Newcastle City Council wants the money for projects it says are key to safeguarding the future of the burgeoning sector

The Independent UK

Sluggish growth since Tories came to power leaves average Brit £4,000 worse off

Labour accuses government of running ‘low-growth economy’ compared to neighbours

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