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The Latest Breaking News from Economy

Is The British Pound Sterling Chart A Good Recession Indicator?

The Oxford Dictionary defines a recession as a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. It is also defined as a period of declining economic performance across an entire economy that lasts several…

Benzinga

Oil sheds almost 10% in two days to drop below $100 a barrel

Oil continued its retreat into a second session as galloping US inflation fueled concerns it would force moves that risk pushing the economy into a recession.

Tribune News Service

Yellen says rollback of abortion rights puts US economy at risk

WASHINGTON — Treasury Secretary Janet Yellen entered one of the most politically charged U.S. debates Tuesday, saying the economy would suffer if the Supreme Court significantly limits women’s access to abortion.

Tribune News Service

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Despite Recession Fears, This Indicator Says The US Economy Is Booming

The SPDR S&P 500 ETF Trust (NYSE: SPY) has taken a big hit so far in 2022. Negative U.S. GDP growth in the first quarter has investors increasingly spooked that inflation and aggressive Federal Reserve tightening could push the economy into a recession.

Benzinga

Yellen trip to Capitol detours into tense abortion debate

Treasury Secretary Janet Yellen’s appearance before a Senate committee took an unexpected and tense detour into the abortion debate Tuesday when senators questioned her about the potential impact of an abortion ban on the American economy

The Independent UK

Biden says inflation is ‘hurting’ US families, blames pandemic

WASHINGTON — President Joe Biden blamed high inflation on pandemic disruptions to the economy and Russia’s invasion of Ukraine, acknowledging that rising prices are “hurting” American families ahead of the November midterms.

Tribune News Service

Queen’s Speech: Boris Johnson accused of abandoning families to poverty

‘Their time has passed’: Keir Starmer accuses government of failing to address pressing issue of the moment

The Independent UK

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US treasury secretary warns eliminating abortion access will damage economy and ‘set women back decades’

Janet Yellen tells Senate committee that restrictions on abortion care increase odds of ‘living in poverty or need for public assistance’

The Independent UK

Rishi Sunak to weaken City regulation in post-Brexit nod to Tory donors

Chancellor to get rid of EU regulatory regime in financial services sector and replace it with a UK-specific one

The Guardian - UK

Movie review: 'The Innocents' a powerful horror film about supernaturally gifted children

The babes in the woods of Eskil Vogt’s “The Innocents” are some of the scariest kids you’ll see on movie screens this year. Bored over the summer holidays and living in a large Norwegian housing development, they while away the long summer hours inflicting a kind of casual cruelty on…

Tribune News Service

Yellen: Eliminating abortion rights would have "very damaging" effect on economy

Roe v. Wade "helped lead to increased labor force participation. It enabled many women to finish school."

Axios

Insights from Zimbabwe on how to link formal and informal economies

In 2003, Thabo Mbeki – then president of South Africa – described South Africa’s economy as being like a two-storey house. The top floor was quite plush, with all the fittings packed neatly together. He referred to this as the modern, diversified economy within South Africa. Below that level, however,…

The Conversation

He got Congress to care about antitrust again. Now time is running out, Rep. David Cicilline says

WASHINGTON — David Cicilline was late getting into antitrust, at least for him.

Tribune News Service

Queen’s Speech key points: Boris Johnson’s cost of living race against time

Prime Minister vows to ‘turbo charge’ the economy to ease cost-of-living crisis in legislative package

Evening Standard

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Asharq Al-Awsat

Saudi Arabia Calls for Easing Economic Difficulties Facing Int’l Travel

Saudi Arabia plays a leadership role in ensuring the prosperity of the aviation sector in coming years, said Saudi Arabia's General Authority of Civil Aviation (GACA) President Abdulaziz al-Duailej. Speaking at the Future Aviation Forum, Duailej reiterated the importance of joint efforts to face future crises and end economic difficulties…

The Independent UK

New measures to ‘dynamise’ the economy in Queen’s Speech, says Government

The Prince of Wales will read the Queen’s Speech for the first time as the monarch misses the State Opening of Parliament.

Asharq Al-Awsat

World Bank Urges Donors to Boost Financial Support for Palestinian Authority

The World Bank urged on Monday donors to boost support for the Palestinian Authority (PA), which it said was facing a destabilizing budget crisis linked partly to “record low” foreign aid contributions. In a report, published ahead of a donor conference in Brussels, the World Bank paints a contrasting view…

The Guardian - UK

Tesco chairman calls for energy windfall tax; Markets rebound after ‘everything rout’ – as it happened

Rolling coverage of the latest economic and financial news

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Asharq Al-Awsat

World Bank Approves Emergency Loan to Fund Wheat for Lebanon

The World Bank (WB) approved a $150 million emergency loan for food security to support wheat imports to Lebanon and provide stability of bread prices during the coming nine months, a Lebanese minister announced on Monday. Economy and Trade Minister Amin Salam said in a press conference that he had…

Birmingham Post

Diverse businesses 'could add £75bn to UK economy'

Centre for Research in Ethnic Minority Entrepreneurship and NatWest say entrepreneurs need strong support

The Guardian - AU

Ask the experts: what’s the future of Australia’s EV landscape?

Electric vehicles will become the norm in Australia, but when? Our panel of experts discusses what the future of driving looks like.

Tribune News Service

S&P 500 plunges 3% in final hour of US trading: Markets wrap

Stocks sank in a widespread rout amid concern about the Federal Reserve’s ability to tame decades-high inflation without throwing the economy into a recession.

Bangkok Post

Thamanat to talk Prayut with 'G16'

The secretary-general of the Setthakij Thai Party, Thamanat Prompow, has agreed to meet representatives of small political parties over dinner in about two weeks to discuss Prime Minister Prayut Chan-o-cha's alleged mishandling of the economy.

Bangkok Post

The Tech Industry's Epic Two-Year Run Sputters

The technology industry, which powered the U.S. economy during the pandemic and grew at tremendous scale during a decade of ultralow interest rates, is confronting one of the most punishing stretches in years.

Axios

Wall Street in free fall as investors sell everything

While the economy contracted last quarter, the jobs market remains as robust as it’s ever been.

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