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The Latest Breaking News on Economy

Nicola Sturgeon accused of 'failing to grasp working poverty epidemic' set to hit Scots

The First Minister has been warned the cost of living crisis will engulf Scotland without action.

Daily Record

Former PM Gordon Brown demands emergency budget before ‘financial timebomb’

A new report commissioned by Mr Brown suggested Government measures fell well short of addressing households’ needs.

The Independent UK

What is a recession? How can you know if the economy is in a recession?

The US has gone through 34 recessions since 1857. Thirteen of those occurred after World War II.

USAFacts

From analysis to the latest developments in health,
read the most diverse news in one place.

Families already worried about cost of Christmas as inflation reaches 40-year high

People will prioritise gifts people need rather than want

The Independent UK

First-time buyers face increasingly impossible housing ladder task

Rightmove says both new entrants and current renters ‘chasing a fast-moving’ property target

Evening Standard

Britain’s ‘great unretirement’: cost of living drives older people back to work

Uncertainty and fear said to be behind increase in over-50s working or looking for work

The Guardian - UK

Supercar sales accelerate in the UK

Low-cost finance and a ‘you only live once’ attitude behind 19% rise in the likes of Ferraris, Lamborghinis and Maseratis, say market analysts

The Guardian - UK

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UK restaurant insolvencies jump by more than 60% in year, data shows

Closures rise to 1,406 as worker shortages and cost of living crisis put more pressure on hospitality sector

The Guardian - UK

Restaurants closing doors ‘due to crippling staff shortages and inflation’

Peter Kubik, of UHY Hacker Young, said restaurants are facing spiralling inflation, decreased consumer spending and a labour shortage.

The Independent UK

NHS understaffing poses ‘serious risk to patient safety’

Projections suggest an extra 475,000 jobs will be needed in health and an extra 490,000 jobs in social care by the early part of the next decade.

The Independent UK

Thousands of businesses go bust while awaiting business rates rebates

Research has shown that 3,165 business premises have entered insolvency while waiting for response to rates challenges.

The Independent UK

Starmer in challenge to Labour left with vow to prioritise economic growth

Labour leader promises to ‘reboot the economy’ with ‘strong, secure, fair’ growth

The Independent UK

Yellen downplays US recession as wave of economic data looms

Treasury Secretary Janet Yellen says the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession

The Independent UK

As the cost-of-living crisis continues, dumpster diving has become a lifesaver for some families doing it tough

With the cost of living going up and thousands of Australians struggling to put food on the table, some people are turning to dumpsters to save money and reduce waste.

ABC News

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Axios

A weird economy that may (or may not) become a recession

All signs suggest growth is weakening, but hasn’t fallen off of a cliff — yet.

Manchester Evening News

Inside Greater Manchester's summer of strikes as thousands of workers walk out

The country is set for unprecedented industrial action this summer

The Guardian - UK

Worship the rich, neglect the poor? Adam Smith’s words still capture how power works

A law introducing state-sanctioned strike breaking is the latest sign that regulation only applies to workers. For business interests, anything goes

ABC News

Concerns Canberrans on lower incomes will be left behind under ACT's new electric vehicle strategy

The ACT government's announcement that the sale of new petrol cars will be banned in the territory in 2035 is causing affordability concerns for Canberrans on lower incomes.

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AAP

Price data could surprise on the upside

Australia could be about to rack up its worst annual inflation rate in more than 31 years, paving the way for a sharp lift in official interest rates in August.

Chronicle Live

Government could be '10 years away' from rolling out universal basic income

A university academic has said "momentum is building" for a universal income.

The Guardian - UK

ECB raises interest rates more than expected to combat inflation – as it happened

ECB raises rates by half a point in its first hike in 11 years, UK government finances worsen amid record debt interest costs and Russia resumes limited gas supplies to Europe

The Guardian - UK

The Guardian view on the UK economy: what an almighty mess

An unprecedented number will spend this winter choosing between freezing and starving. Britain needs an active state to help

The Canberra Times

New bushfire management plan, more urban tree planting in $10m budget pledge

Environment Minister Rebecca Vassarotti said the capital had a unique opportunity to better protect its landscapes.

ABC News

Commonwealth Bank, ANZ, NAB and Wespac to lift variable mortgage rates by half a percentage point

All of the big four banks will pass on the Reserve Bank's latest interest rate rise to home loan customers in full — but not all savers.

Daily Mirror

Basic income - why some people get free money and eligibility to receive £1,600 a month

Basic income has been tried in countries across the world and Wales from Friday will start its own pilot by giving no-strings-attached cash to young care leavers

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