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The Latest Breaking News from Economy

Why Isn't The US Officially In A Recession?

The US has technically entered a recession in the second quarter 2022 as the economy contracted 0.9% year over year, following a 1.6% decline in the first quarter.

Benzinga

UK inflation could reach 15% by start of 2023, experts say

Resolution Foundation says Bank of England likely to forecast higher and later peak, on eve of interest rates decision

The Guardian - UK

What is a recession? Economic term and what happens during one explained

A chilling warning about the state of the economy - and how it affect vulnerable households - has been issued.

Daily Record

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Pelosi’s Taiwan trip could have significant consequences for global economy

Rising tensions between US and China threaten to accelerate decoupling of world’s two biggest economies

The Guardian - UK

Rising cost-of-living pushes consumer confidence to all-time low

Confidence in the state of the economy fell to -85%, similar to levels last seen in summer 2020

Insider UK

‘We Have Nothing’: Iraqi Protesters Voice Anger, Hope

Thousands of Iraqi protesters have occupied the parliament in Baghdad's Green Zone for the past five days, the latest political turmoil to strike the war-scarred country. The mass sit-in is led by followers of powerful Shiite Muslim preacher Moqtada Sadr, who is facing off against a rival, Iran-backed Shiite faction…

Asharq Al-Awsat

Liz Truss: Who is the foreign secretary hoping to become prime minister?

Social media savvy ‘human hand grenade’ seen as continuity candidate and currently ahead of Rishi Sunak thanks to questionable tax promises and neo-Thatcherite branding

The Independent UK

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In Sri Lanka, inflation means food shortages, blackouts — and days-long lines for gas

Sri Lanka offers a cautionary tale for countries struggling with inflation. Anger over fuel lines spilled into the streets and toppled a government. Will nationalism surge, or unity prevail?

WEKU

Joint business group sticks by GDP outlook despite inflation risk

The Thai economy is still expected to grow 2.75% to 3.5% this year, helped by increased exports, more tourists, and government support, but faces rising inflationary pressures, a leading joint business group said on Wednesday.

Bangkok Post

Commentary: As Americans reel from stagflation, Manchin pitches tax hikes

Stagflation is here. Inflation notched a fresh 40-year high of 9.1 percent in June, and the economy shrank in the first and second quarters of the year.

Tribune News Service

Sri Lanka leader proposes 25-year plan for crisis-hit nation

Sri Lanka’s new president says his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export economy as it seeks a way out of its worst economic disaster

The Independent UK

Opec+ agrees small oil output rise in rebuff to Biden; UK inflation ‘could hit 15%’ – as it happened

Oil producers will lift oil production by 100,000 barrels per day in September, a much smaller rise than in recent months

The Guardian - UK

Millions of Brits to be hit by 'recession with poorest areas affected most'

The UK is set to head into recession according to the National Institute of Economic and Social Research which also predicts that it will be the poorest areas that will be worst affected

Daily Mirror

Holistic approach to education needed: Kerala CM tells institutions

Pinarayi inaugurates Connect Career to Campus campaign of the Kerala Knowledge Economy Mission

The Hindu

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Miami Herald

What people and what companies say about employment mean different things

Would you believe the U.S. economy lost 315,000 jobs in June? And that it gained 372,000 jobs the same month?

Wales Online

Stagflation 'nightmare' as recession warning issued to millions of UK households

Millions of the most vulnerable households will be hit, warns economic report

The Independent UK

Lorna Slater ‘terrified’ by Tory leadership candidates’ approach to economy

The Scottish Greens co-leader accused both Liz Truss and Rishi Sunak of ‘disrespecting’ the Scottish people and the Scottish Parliament.

The Independent UK

Stagflation warning as UK ‘set to enter recession’

The National Institute of Economic and Social Research said the threat of stagflation has returned for the first time since the 1970s.

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WEKU

Robinhood cuts nearly a quarter of its staff as the pandemic darling loses its shine

Robinhood – the company that became a household name during the pandemic – is cutting staff, citing a deteriorating economy and worsening market.

Bangkok Post

Taking a deep dive into the baht rebound

The currency of Southeast Asia's second-largest economy traded against the greenback at 36.08 on Monday, appreciating 1.4% compared to a week prior.

Tribune News Service

Economist explains when we’ll know the recession is here and how long it will last

North Carolina economists last week told The Charlotte Observer they’re increasingly concerned about an impending recession.

Reuters

Argentina's latest economy chief announces new agriculture pick

Argentina's incoming economy minister, dubbed a "superminister" due to his expanded portfolio, announced new secretary picks including for the key farm sector on Tuesday, part of the government's latest bid to reign in a severe economic crisis.

The Guardian - AU

Environmental and Covid challenges threaten Australia’s productivity rate after slowest growth in 60 years

Country generates seven times more output than in 1900, review finds, but remains ‘highly exposed’ to threats of climate change

Ballotpedia

Economy and Society, August 2, 2022: Governor DeSantis bans ESG criteria in state pension fund management

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Asharq Al-Awsat

A Year on, Iran’s Raisi Faces Economy in Trouble

A year after Iran's President Ebrahim Raisi took power, his government has curbed the Covid pandemic but faces a sharp downturn of the sanctions-hit economy as nuclear talks remain stalled. Having pledged to help especially the poor, the ultraconservative cleric now faces runaway consumer prices that have sparked protests. Raisi…

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