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The Latest Breaking News from Economy

UK families look set to be £1,200 poorer next year

It comes as household bills skyrocket, with energy prices soaring and yet another price hike cap this October

Bristol Post

Emmanuel Macron secretly aided Uber lobbying drive in France, leak reveals

Leaked messages show then French economy minister told Uber executives he had brokered secret ‘deal’

The Guardian - UK

What cost of living crisis? Tory hopefuls’ fuss over tax cuts is devoid of reality

Candidates’ focus on reducing tax would throw petrol on the inflationary fire and turbocharge inequality

The Guardian - UK

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Sri Lanka crisis: Why the country’s economy collapsed and what’s next?

Sri Lanka’s departing prime minister says the island nation’s debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel

The Independent UK

Bitter Tory economy row with nine PM contenders split over tax cuts - what each will do

There are mounting fears that the cost-of-living crisis could tip the UK into recession, as defined by two quarters in a row of falling output, as rocketing inflation sees households and businesses rein in spending...

Daily Mirror

Independence day is time to reflect on Scotland's colonial legacy in Malawi

ON July 6, 1964 the Protectorate of Nyasaland became independent, renaming itself Malawi.

The National (Scotland)

Why be a poor version of Germany instead of doing what we do best?

Manufacturing is not our forte. But we are world beaters in services. Success will prove elusive until we recognise that

The Guardian - UK

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Brexit legacy is just the start of incoming PM’s problems as cost of living crisis spirals

Boris Johnson’s government offered too little too late, and now trade, social care, and the economy are paying the price

The Guardian - UK

Sri Lanka protesters vow will not let up until president, PM quit

Leaders of Sri Lanka's protest movement said on Sunday they would occupy the residences of the president and prime minister until they finally quit office, the day after the two men agreed to resign leaving the country in political limbo.

Reuters

Why Sri Lanka's economy collapsed and what's next

Sri Lanka’s departing prime minister says the island nation’s debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel

The Independent UK

Tory turmoil keeps Bank of England in the dark on tackling crisis

Policymakers can only wait and see how the next prime minister’s tax and spend policies will affect the economy

The Guardian - UK

Putin is set to halt gas, and Germany fears it’s not coming back

FRANKFURT, Germany — On calendars in Germany’s industrial heartland and the halls of power in Berlin, July 11 has been marked in red for weeks.

Tribune News Service

Gas lines and scuffles: Sri Lanka faces humanitarian crisis

A few years ago, Sri Lanka had an economy strong enough to provide jobs and financial security for its 22 million people

The Independent UK

Stock Market Bottom? Think Again…

Determining bear market bottom is much easier in hindsight than doing it in real time. That's because the stock market (SPY) offers up many impressive bounces that give the illusion of the worst being over...just before you drop to even lower lows. So price action is a tricky way to…

StockNews.com

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Asharq Al-Awsat

Lebanon: Economy Minister Speaks of ‘Gangs’ in Ministries

Lebanon’s caretaker Economy Minister Amin Salam said on Friday that 40% of Lebanon's flour stock is being smuggled into Syria, pointing to what he described as “gangs in the ministries” controlling the issue. “We can’t confront the thieves and smugglers alone. Reports show that 40% of the flour is being…

Tribune News Service

June’s economy dichotomy: US adds 372,000 jobs while employers announce 32,000 layoffs

Is the hot labor market strengthening or weakening? Or doing both at the same time?

WEKU

Shinzo Abe, killed at 67, leaves a storied legacy as Japan's longest-serving premier

The influential prime minister worked to revive the economy with his trademark "Abenomics" and rebuild Japan's role on the global stage. His assassination stunned a nation where gun violence is rare.

Tribune News Service

Q&A: Will California's inflation relief plan make inflation worse?

Gov. Gavin Newsom announced in late June a $17 billion inflation relief package that would send money to millions of Californians.

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The Conversation

June jobs report suggests Fed could avoid a recession – but room for error is minuscule

The U.S. economy added more jobs than expected in June, signaling the labor market remains strong even as the Federal Reserve tries to weaken it to tame inflation. The July 8, 2022, jobs report also showed the unemployment rate remained at a 70-year low of 3.6%.

The Independent UK

EXPLAINER: 5 key takeaways from the June jobs report

Inflation is raging

StockNews.com

4 Downgraded Stocks to Stay Away From in July

With the increasing odds of the economy slipping into a recession due to the Fed’s aggressive interest rate hikes to reduce inflation, it could be difficult for fundamentally weak stocks to find support anytime soon. DiaMedica (DMAC), CytomX (CTMX), Meta Financial (CASH), and Live Oak (LOB) have recently been downgraded…

Axios

What recession? Jobs numbers point to solid growth

The economy may not be coming in for a landing after all.

The Guardian - UK

Boris Johnson has left the UK economy in a parlous state

Analysis: If Johnsonomics stands for anything, it is a lack of plan or vision to address Britain’s economic woes

The Conversation

UK political resignations: the current uncertainty could affect the economy for nearly two years

The recent dramatic events that led to the resignation of UK prime minister, Boris Johnson, on July 7 2022 raise the issue of how politics – and economic policy uncertainty more specifically – affects the UK economy. The answer, of course, is that it does, and sometimes for as much…

The Guardian - US

US adds 372,000 jobs in June as growth exceeds expectations

US unemployment rate held steady at 3.6%, labor department said, as jobs report indicated resilience

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