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The Latest Breaking News from Inflation

Jon Talton: Jeff Bezos adds his own misdirection on the inflation debate

It’s not unprecedented for titans of industry to attack presidents. Henry Ford was so outraged over former President Franklin Roosevelt’s Hundred Days of initial policies to address the Great Depression that he huffed FDR’s “particular genius is to try to run other people’s businesses.”

Tribune News Service

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 Conversation

EXPLAINER: 5 key takeaways from the June jobs report

Inflation is raging

The Independent UK

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Biden says he has not decided on China tariffs, reviewing them 'one at a time'

President Joe Biden said on Friday that he has not yet made a decision on whether to cut some U.S. tariffs on imports from China, saying his administration was reviewing them "one at a time."

Reuters

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…

StockNews.com

Horner: F1 cost cap inflation boost "not enough"

Red Bull team boss Christian Horner says the inflation adjustment to the 2022 Formula 1 cost cap agreed in Austria today is still not enough for the bigger teams.

Motorsport

Horner: F1 cost cap inflation boost “not enough”

Red Bull team boss Christian Horner says the inflation adjustment to the 2022 Formula 1 cost cap agreed in Austria today is still not enough for the bigger teams.

Autosport

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What recession? Jobs numbers point to solid growth

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

Axios

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

The Guardian - US

The Gold Price Has Plummeted in a Matter of Days. Now What?

The gold price plummeted back below $1,800 an ounce, apparently oblivious to the signs of economic distress that are appearing. Instead, gold appears hyper-focused on the soaring U.S. Dollar Index, which rose to 107.15 on Thursday.

Benzinga

Analysts Just Issued Upgrades on These 4 Buy-Rated Stocks

The blistering inflation and rising recession odds have led to low consumer sentiment. And the market volatility is expected to remain in the near term. So, we think fundamentally solid stocks Lamar Advertising (LAMR), EPR Properties (EPR), Merck & Co. (MRK), and Tenaris (TS), which analysts recently upgraded, could be…

StockNews.com

Punjab: Inflation hits Bakar-Eid festivities in Amritsar

AMRITSAR: After facing losses for the past consecutive two years owing to coronavirus pandemic-induced restrictions, the sacrificial animal dealers in Amritsar are reaping windfalls with the high demand for sheep and goats not only from Punjab but also from neighbouring Jammu and Kashmir Union Territory (JKUT).

The Times of India

Five ways that the super-strong US dollar could hurt the world economy

The US dollar has been on a major surge against major global currencies in the past year, recently hitting levels not seen in 20 years. It has gained 15% against the British pound, 16% against the euro and 23% against the Japanese yen.

The Conversation

F1 news: New porpoising rules delayed as cost cap rises to combat effects of inflation

The new FIA rules to address Formula 1 cars bouncing have been delayed until the Belgian Grand Prix following an F1 Commission meeting on Friday.

Evening Standard

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StockNews.com

Shopify Dropped 17% in June - Is It Still a Stock to Avoid?

Shopify (SHOP) dropped 16.7% in June as it struggled with falling consumer spending amid the surging inflation. With rising recession fears and an expected decline in consumer spending, is the stock due for further price decline, or can it survive the challenges and rebound? Read on to learn our view….

The Independent UK

US economy adds 372,000 jobs amid concerns about inflation

The unemployment rate remains at 3.6 per cent but unemployment for Asian workers jumped by 3 per cent.

Motorsport

F1 agrees to budget cap increase for 2022 amid inflation pressure

The Formula 1 Commission has agreed to a small increase in the budget cap for the 2022 season due to the global financial climate and increasing inflation rates.

Evening Standard

First Direct offers 10-year, fixed-rate mortgage to help homeowners cope with inflation

Offer capped at £550,000, enough to cover average London house price of £547,000

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Bangkok Post

Thailand Post raising rates as inflation bites

Thailand Post raised prices for domestic letter and parcel deliveries this week, the first such move by the state enterprise in 18 years, as the country’s inflation rate has accelerated to a 14-year high.

Asharq Al-Awsat

Egypt Registers Primary Surplus of $5.2 Billion

Egypt registered a primary surplus of EGP98.5 billion ($5.23 billion) in the 2021/22 financial year to June 30, the country’s finance ministry said on Thursday. The overall budget deficit stood at 6.1% of GDP, the statement added. Meanwhile, Egypt’s annual urban consumer inflation slowed to 13.2% year-on-year in June from…

Asharq Al-Awsat

‘Sacred Duty’: Inflation Eats Into Turkey’s Muslim Feast

With inflation in Turkey galloping, the sheep Gul Er buys every year for the Muslim festival of sacrifice in Istanbul looks agonizingly out of reach. Prices have doubled or even tripled since President Recep Tayyip Erdogan began an unorthodox economic experiment last year that has seen Turks' living standards suffer.…

The Guardian - UK

Britain’s energy price cap heading for £3,300; US jobs report eases recession worries – as it happened

Cornwall Insight predicts UK energy cap will rise to £3,363 a year in January, as US economy shakes off recession worries by adding more jobs last month

Asharq Al-Awsat

Asian Stocks Extend Global Rally as Recession Fears Ease for Now

Asian markets rose Friday on easing recession fears, while there were growing hopes that Joe Biden will remove some Trump-era tariffs from Chinese goods. Buying was also boosted by reports that Beijing was considering a huge stimulus shot to the struggling economy by allowing local governments to raise billions of…

The Guardian - UK

Six charts that show how the UK economy is in crisis

From inflation to tax, labour shortages to R&D, ministers will need to confront these key issues and fast

The Independent UK

Inflation, expenses rise sharply as priorities: AP-NORC poll

A new poll from The Associated Press-NORC Center for Public Affairs Research shows an upheaval in priorities just months before critical midterm elections

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