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The Latest Breaking News on Economy

UN Says The Fed Can Stop Global Recession, But It Needs To Do This

The United Nations Conference on Trade and Development is calling on central banks in major economies to reverse course on raising interest rates, stating that it is leading the world into a global recession and prolonged stagnation.

Benzinga

UN accuses richest countries of ‘imprudent gamble’ in inflation fight

Report says policies of high interest rates and austerity risk triggering global recession that will hit developing nations hardest

The Guardian - UK

What is inflation and what is its current rate in the UK and Europe?

UK inflation fell this week as fuel prices dropped

The Independent UK

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UK’s ‘pro-growth’ government has only made a recession more likely

Thanks to Truss and Kwarteng, the country is now far riskier for the investors who finance our trade and budget deficits

The Guardian - UK

Liz Truss admits mistakes were made in mini-Budget preparation

‘I do stand by the package we announced and I stand by the fact we announced it quickly, because we had to act’

Evening Standard

India's unemployment rate drops to 6.43% in September: CMIE

The unemployment rate in the rural areas fell to 5.84% in September from 7.68% in August, while in the urban areas it dropped to 7.70% against 9.57% in the previous month.

The Hindu

Explainer: Why Did The Bank Of England Lay Down $72B To Prevent A 'Lehman Moment'?

The UK’s central bank unpacked a whopping £65 billion ($72 billion) on Wednesday in a desperate attempt to steer the economy back to stability.

Benzinga

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UK is only G7 country with smaller economy than before Covid-19

ONS says GDP grew by 0.2% in three months to June, suggesting Britain is not in recession

The Guardian - UK

UK economy grows slightly in second quarter

It means the UK might not currently be in recession, as was predicted by the Bank of England earlier this month.

Evening Standard

What is inflation and what is its current rate in the UK and Europe?

UK inflation fell this week as fuel prices dropped

The Independent UK

When does the Government summer recess end? MPs set to return to work

MPs’ parliamentary business will soon end until September, but this is often not a long holiday and involves other business

Evening Standard

Ramesh Ponnuru: The moral case for higher interest rates

Federal Reserve Chair Jerome Powell’s efforts to cool down the economy are causing progressive criticism to heat up. He has been accused of wanting a “brutal” recession, trying to “throw millions of Americans out of work” and using “dangerous” rhetoric. And those are the comments of just one senator, Elizabeth…

Tribune News Service

India raises interest rate to 5.90% to tame inflation

India’s central bank has raised its key interest rate to 5.90% and said developing economy were facing slowing growth, elevated food and energy prices, debt distress and currency depreciation

The Independent UK

Lackluster employment numbers signal economic slowdown for Texas, Dallas Fed says

A new report shows the number of employed Texans remained virtually unchanged from July to August, while unemployment ticked up slightly.

The Texas Tribune

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The Independent UK

How do we know when a recession has begun? Looks for these signs

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

The Independent UK

OLD EXPLAINER: How do we know when a recession has begun?

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

Newsroom.co.nz

The UK's economic turmoil doesn't have to be ours

Lack of coordination between monetary and fiscal policy is hurting the UK economy and threatening a global currency crisis. What might that mean for NZ?

The Independent UK

US economy drops at 0.6% annual rate from April through June

Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate

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The Independent UK

Fewer people seek US unemployment aid amid solid hiring

The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy

The Independent UK

What is inflation and what is its current rate in the UK and Europe?

UK inflation fell this week as fuel prices dropped

Evening Standard

There was a way to try ‘Singapore-on-Thames’ but not like this

Concern about the Truss-Kwarteng “dash for growth” mini-budget has morphed into the threat of a full-scale financial crisis, prompting the Bank of England to do more quantitative easing to ease panic in the market for government bonds.

ABC News

Treasurer Jim Chalmers flags new budget strategy, but tax cap 'plucked from the air' can stay for now

The Albanese government's first federal budget will include a significant rewriting of official budget guidelines and will also see forecasts for unemployment revised as a "consequence" of a deteriorating global outlook, the treasurer has flagged.

The National (Scotland)

Liz Truss says she slept well as markets panicked over the Tory mini-budget

PRIME Minister Liz Truss has said she slept well while the UK economy faced turmoil sparked by her government’s mini budget.

Tribune News Service

Commentary: How Fed-induced inflation is battering your wallet

A common sound bite today is that the Federal Reserve’s recent interest rate hike is pushing the nation toward recession. But that’s like beginning a book on page 813. The origin of today’s economic malaise is prolonged and massive federal budget deficits, combined with a Fed willing to finance those…

Wales Online

Mini-budget to pile on debt interest, warns Tony Blair Institute

Kwasi Kwarteng’s growth plan included £45bn of tax cuts

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