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The Latest Breaking News from Economy

As it happened: Andrew Barr gets a shoutout from Treasurer

The Reserve Bank decision to lift the cash rate on Tuesday has forced the Coalition to defend its handling of the economy.

Newcastle Herald

Ruston dismisses suggestion Liberal party has ‘lost its way’; Hunter candidates square off – as it happened

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The Guardian - AU

Explainer: Inside the case for a minimum wage hike

Thai workers are feeling the pinch from months of higher living expenses, leading them to take to the streets on Labour Day to demand a 45% increase in the daily minimum wage.

Bangkok Post

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Look to Consumer Staples Stocks on Mounting Recession Fears

The Fed’s aggressive interest rate hikes and the high energy prices are likely to fuel recessionary conditions. The unexpected decline in GDP in the first quarter indicates a possible slowdown with prices rising continuously. Amid fears of high inflation and a consequent recession, investors can look to bet on shares…

StockNews.com

Looking for a Recession-Proof Industry to Invest In? Consider These 2 Funeral-Services Stocks

Many analysts believe that the U.S. economy is gradually, inexorably sliding toward a recession. However, due to inelastic demand, the funeral services industry is recession-proof by nature. So, we think it could be wise to bet on quality funeral services stocks Matthews (MATW) and Hillenbrand (HI). Let’s discuss.

StockNews.com

Brazil courts give Guedes 10 days to explain election-year tax cut

Investigators from Brazil's electoral courts have given the Economy Ministry 10 days to explain a huge tax cut on industrial goods such as televisions and refrigerators over concerns about its legality and impact on the October election.

Reuters

Is This a Bull Trap?

The stock market is in the midst of a brutal correction. Despite Monday's bounce, investors should remain cautious as there remains a considerable downside risk. Read on to find out how the POWR Growth portfolio continues to outperform the S&P 500 (SPY).

StockNews.com

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Hong Kong economy shrinks 4% under anti-virus controls

Hong Kong’s economy shrank by 4% compared with a year earlier in the quarter ending in March after the Chinese territory shut restaurants and other businesses to fight a spike in coronavirus infections

The Independent UK

What are capital controls and how is Russia seeking to use them to ease the pain of sanctions?

Moscow forced to introduce damage-limitation measures to control economy as ruble crashes to historic low in response to hard-hitting penalties for Ukraine invasion

The Independent UK

Why stock market valuations are diving

The stock market wasn't synonymous with the economy on the way up, and it isn't on the way down, either.

Axios

Fitch Cuts China's 2022 GDP Forecast on COVID Hit

Fitch said on Tuesday it has cut China's GDP growth forecast for 2022 to 4.3% from 4.8%, saying pandemic-related disruptions have had an impact on the country's economy in the first two quarters of the year. The rating agency said it stills expects a quarter-over-quarter GDP contraction in the second…

Asharq Al-Awsat

China's top leaders signal reprieve for tech companies

Loosening restrictions could remove one source of downward pressure on China's economy.

Axios

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

If Democrats lose control in the midterms, as most election handicappers expect, it could spell trouble for the push to rein in Big Tech.

Roll Call

Inflation, recession and the 2022 midterms - Roll Call

The current economic issues of inflation and low growth could put Democrats at a disadvantage in the 2022 midterms.

Roll Call

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The Independent UK

Why is Belarus supporting Russia and how is it involved in Ukraine?

Soviet relic Alexander Lukashenko increasingly dependent on Vladimir Putin’s patronage for survival as grip on power slips and economy teeters on brink of disaster

The Guardian - AU

Labor says rate rise highlights PM’s shredded credentials but Morrison insists it’s part of pandemic journey

Scott Morrison says Reserve Bank has ‘made a very important statement about where we are now in our journey out of this pandemic’

Bangkok Post

Economy seen growing 3.5% this year: PM

Thailand's economy is expected to grow 3.5% this year, down from an earlier projection of 4.0%, Prime Minister Prayut Chan-o-cha said on Tuesday, noting how the Russia-Ukraine war could slow the economies of the country's trading partners.

Reuters

Global problems may exacerbate shortages in N.Korea's isolated economy

North Korea's isolated economy will not be insulated from global economic headwinds caused by the Ukraine war and the COVID-19 lockdowns in China, analysts said, with recently resumed border trade taking a hit and inflation exacerbating food shortages.

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news in one place.

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Reuters

Slovakia says it will seek exemption from any EU embargo on Russian oil

Slovakia will seek an exemption from any embargo of Russian oil agreed by the European Union in its next set of sanctions against Moscow for its invasion of Ukraine, Slovakia's Economy Ministry said on Tuesday.

ABC News

The Pilbara is a powerhouse of the Australian economy, so why have its major towns not thrived as well?

Poor planning, a narrow industry base of FIFO workers, cyclones, heat and dust. Many obstacles stand in the way of the Deputy PM's dream of a Newcastle-sized city in the Pilbara, says an academic.

The Guardian - UK

‘I can’t see it getting any better’: could the UK be heading for a recession?

Small business owners are already being hit as consumers cut back on non-essentials

ABC News

Victorian budget 2022 piles on debt to pump money into strained health system, education

Victoria's election-year budget will pile on debt to fix the state's beleaguered health system and continue to pump money into education and transport, all while it attempts to claw back a modest surplus in just four years.

Al Jazeera

‘Not a businessman’: Hong Kong’s next chief faces test on economy

John Lee to take over business hub as economy languishes after two years of political crackdowns and pandemic controls.

StockNews.com

Why Today’s Market Differs from the Stagflationary Stock Market Seen in the 70s

Monday stocks retested the S&P 500’s (SPY) lowest levels of the 2022 correction. Yes, shares bounced higher into the open. Unfortunately that tells us nothing about what comes next. So let's explore what is causing stocks to push to new lows...what the tea leaves say about where stocks go from…

Benzinga

3 Reasons to Remain Bullish on U.S. Banks

As of this past Friday, 17 of the 18 banks in the S&P 500 have reported results for the first quarter and not only have the quantitative results been supportive of strong fundamentals, but the tone from management teams has also been consistently positive about business trends.

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