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The Latest Breaking News from Recession

The experience-hungry American consumer is already crashing the economy into a 'rolling recession,' Oxford Economics says

“Instead of a typical recession, it's possible the economy will fall into – or in fact is already in – a 'rolling' recession,” Oren Klachkin, lead U.S. economist at Oxford Economics, wrote Tuesday.

The costs of extreme heat, at least $100B a year, will rise to staggering levels, says the former Fed economist who’s so influential they named a recession indicator after her

The costs of extreme heat, at least $100B a year, will rise to staggering levels, says the former Fed economist who’s so influential they named a recession indicator after her

The cost of heat to the U.S. economy could more than triple in less than 20 years, hitting manual laborers hardest.

Just 8% of CFOs strongly believe a recession is coming in the next six months

Just 8% of CFOs strongly believe a recession is coming in the next six months

Companies in the U.S. are shifting from defense to offense, according to PwC.

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‘We are burned out’: UAW ready to take on automakers in contract negotiations

Amid record profits, workers want to roll back concessions made to auto industry after the 2008 economic recession

The Guardian - US

Buy the Dip NOW!

As the title of this article implies, Steve Reitmeister believes now is the time to buy the dip for the stock market. Simply 4,600 was too high for the S&P 500 (SPY) given current conditions. And the recent trip down towards 4,300 is too low. The key is knowing which…

Legendary investor Jeremy Grantham warns a recession is coming and the Fed’s rosy forecast is ‘almost guaranteed to be wrong’

“It’s almost guaranteed to be wrong,” the GMO cofounder told Bloomberg of the Fed’s soft-landing forecast Thursday. “They have never called a recession.”

Last call for tech layoffs

The slowing pace of tech layoffs hints at the prospect of bidding farewell to the tech job recession.

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UK inflation rate tumbles sharply but recession still looms, economists warn

UK inflation rate tumbles sharply but recession still looms, economists warn

Experts warn slump in economy could soon overtake cost of living as main worry for UK

The Independent UK

UK economy faces 'very real risk' of recession despite inflation slowing, experts say

UK economy faces 'very real risk' of recession despite inflation slowing, experts say

ECONOMISTS have warned that the UK faces a “very real risk” of recession due to higher interest rates - despite inflation slowing to its lowest…

The National (Scotland)

The 'richcession' is real—Unemployment is rising for the 6-figure salary set, BofA data shows

The 'richcession' is real—Unemployment is rising for the 6-figure salary set, BofA data shows

People making $125,000 and more are getting laid off faster than anyone else, in a reversal of the typical recession playbook.

UBS to pay $1.44 billion to settle 2007 financial crisis-era mortgage fraud case, last of such cases

UBS to pay $1.44 billion to settle 2007 financial crisis-era mortgage fraud case, last of such cases

UBS will pay U.S. authorities $1.44 billion to settle the last lingering legal case over Wall Street’s role in the housing bubble of the early 2000s, which ultimately led to the 2008 financial crisis and Great Recession

The Independent UK

OPINION - The Standard View: The UK economy is stuck in a low-growth trap

The UK economy is not in recession but it is stuck in a low-growth trap. GDP in the three months to June registered a 0.2 per cent jump, marking the fifth successive quarter in which the economy has kept its head above water since a 0.5 per cent advance in…

Evening Standard

UK shrugs off recession as economy grows by 0.2% in second quarter

UK shrugs off recession as economy grows by 0.2% in second quarter

The meagre GDP growth means there is no immediate risk of recession, but leaves the UK stuck in a low growth trap

Evening Standard

From eggs to electronics to used cars, consumer inflation eased its grip on US households in July

From eggs to electronics to used cars, consumer inflation eased its grip on US households in July

The moderating pace of inflation, combined with a resilient job market, has raised hopes that the Federal Reserve may be able to tame inflation without causing a painful recession.

Chicago Sun-Times

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Shock at dramatic water loss in wake of Ukraine dam blast attack

When the Kakhovka dam was destroyed in early June, a vast expanse of water disappeared. The water’s dramatic recession has had far-reaching effects on the population of surrounding towns, notably Nikopol. But as residents adapt to the new landscape, Ukrainian authorities and environmental experts are grappling with the best strategy…

The Independent UK

UK ‘at risk of recession next year’ due to soaring interest rates, economists warn

The National Institute of Economic and Social Research warns it will be another year until UK GDP recovers to where it was before the coronavirus pandemic

The Independent UK

UK economy faces ‘stuttering growth’ over next 2 years due to higher interest rates

The National Institute of Economic and Social Research says the economy will avoid a recession

The Independent UK

Early election dilemma for Rishi Sunak as economists warn of recession

Recession more likely than not by end of 2024 when Tories will have to go to country

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The Guardian - UK

Risk of UK recession at next general election is 60%, says thinktank

Economic experts say it will take until third quarter of 2024 for output to return to pre-pandemic peak

The Independent UK

UK economy faces ‘stuttering growth’ due to higher interest rates – think tank

The National Institute of Economic and Social Research said in its main forecast that the economy will avoid a recession

The Guardian - UK

Why the US will break out first from the low-growth trap

Western economies must adopt industrial strategies, boost R&D and exploit new tech to prosper – Americans realise this better than Europeans

Buy or Hold for August: Bank of America (BAC) vs. Wells Fargo & Company (WFC)

The Fed’s annual stress test showed that America’s largest banks, including Bank of America (BAC) and Wells Fargo & Company (WFC), were highly unlikely to stumble in a severe recession scenario. Both banks beat the consensus EPS and revenue estimates in the second quarter. So, which of these two banks…

The Guardian - UK

Hunt’s warning to Tories: stick with me or look as chaotic as Johnson

Chancellor looks safe for now despite speculation, but calls for change may get louder as general election looms

The Independent UK

US economy likely generated 200,000 new jobs in July, showing more resilience in face of rate hikes

The American economy has generated at least 200,000 new jobs for a record 30 straight months

Bank Of America Retracts Recession Forecast, Citing Strong Job Market And Consumer Spending

BofA becomes the first major Wall Street bank to backtrack on recession prediction, reflecting growing economic optimism.

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