The Latest Breaking News from Recession

Tory leadership rivals disagree on how to turn economy around and avoid predicted downturn in Sky news debate

British foreign minister Liz Truss clashed over the future of the economy with former finance minister Rishi Sunak on Thursday as the two contenders to be Britain's next prime minister debated the Bank of England's warnings of a long recession.

Rival insists shrinking economy is not ‘inevitable’

The shocking assessment of the economy has reset the backdrop for the Conservative leadership contest

Rishi Sunak warned pouring ‘fuel on the fire’ could create ‘misery for millions’ as he hit out at his Tory leadership rival’s plans.

The Fed’s aggressive interest rate hikes and the economy's contraction for two consecutive quarters have increased the odds of a potential recession. Nevertheless, robust corporate earnings and some positive economic data have greatly supported the downside of the benchmark indexes lately. Therefore, we think it could be wise to invest…

The Foreign Secretary claimed that her tax cuts would help to repay public debt back in the long-term

The Bank of England has now raised rates at six consecutive meetings to try and combat the U.K.’s rampant inflation. Its interest rate now stands at 1.75%. 

Global oil prices dropped on Thursday to their lowest levels since before Russia's February invasion of Ukraine as traders fretted over the possibility of an economic recession later this year that could torpedo energy demand. Benchmark Brent crude futures dropped more than 3% to $93.81 a barrel after touching a…

The Chancellor was said to be “working remotely” from a family break, while the PM and wife Carrie have reportedly jetted off on a delayed honeymoon to Slovenia - as the Bank of England issued a bleak recession warning

Both men were away from Westminster as the Bank of England raised interest rates again and warned of the longest recession since the financial crisis.