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The Latest Breaking News on Economy

Worried about bills this winter? In Truss’s Titanic economics, only the rich will get a life raft

With a national catastrophe looming, the Tory leadership candidates have adopted a muscular ‘anti-welfare’ stance, says Guardian columnist Frances Ryan

The Guardian - UK

Truss and Sunak still haven’t grasped the magnitude of Britain’s cost of living crisis

Neither has an adequate plan – but a joint announcement of a generous package of help would boost confidence

The Guardian - UK

The Guardian view on the dog days of Boris Johnson’s premiership: crises, which crises?

Editorial: As the Conservative party talks to itself, a chance to grip the challenges of the autumn and winter is being wasted

The Guardian - UK

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Explainer: What India’s external debt position tells about its economy

NEW DELHI: A depreciating rupee and contracting foreign exchange reserves raised concerns about India's external debt position.

The Times of India

Grim read reveals just how bad the near future will be

Last week’s gloomy headlines about the Bank of England told only half the story

Evening Standard

Boris Johnson rejects pleas to hold emergency budget to fight cost-of-living spiral

Downing Street said it will be for the next Prime Minister to decide if any extra help should be given this winter as energy bills rocket to more than £3,200 a year

Daily Mirror

UK economy shrank in second quarter according to poll of economists – as it happened

Rolling live coverage of business, economics and financial markets as analysts weigh risk of recessions across the world

The Guardian - UK

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'We're being failed by Conservatives and SNP in cost-of-living crisis'

Scottish Labour leader Anas Sarwar hits out at the Westminster and Scottish governments over the handling of the current crisis.

Daily Record

Two-thirds of UK’s top restaurants in the red after Brexit, Covid and inflation

Meanwhile £700m of support funds in business rates relief remains unpaid by local councils

The Guardian - UK

Sri Lanka syndrome: Is Bangladesh out of danger?

With global inflation rising and the fear of fuel and food crises looming large, clouds are gathering on the economic horizon of South Asian countries. Sri Lanka in particular remains mired in a crisis driven by a mix of high indebtedness, soaring inflation and poor economic management.

Bangkok Post

'Time for Starmer to step up as Truss nears No10 on brink of economic catastrophe'

The Labour leader must paint deep red lines between Labour and the Tories as both Liz Truss and Rishi Sunak appear unwilling to stand up for victims of the cost of living crisis, argues Kevin Maguire

Daily Mirror

Daly says Fed is ‘far from done yet’ on bringing inflation down

San Francisco Fed President Mary Daly suggested a 50 basis-point rate increase isn’t locked in at the U.S. central bank’s next policy meeting, saying the Federal Reserve is “far from done yet” in bringing down inflation.

Tribune News Service

Liz Truss vows to reverse National Insurance rise ‘immediately’

The Foreign Secretary’s campaign team said she would accelerate the reversal of the NI rate rise by six months

Evening Standard

Gordon Brown demands emergency budget as Truss and Sunak bicker over cost of living help

The former prime minister has warned that millions of people in the UK will be plunged into poverty if urgent action isn't taken

The National (Scotland)

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The Independent UK

Liz Truss vows to cut taxes ‘immediately’ to tackle cost-of-living crisis

The Tory leadership contender wants to accelerate the reversal of the national insurance rate rise by six months.

The Guardian - UK

Brexit will make a bad recession even worse. But Sunak and Truss won’t question it

The Tory leadership contenders are pursuing a dangerous nirvana of low taxation while ignoring the damage inflicted by leaving the EU

Daily Record

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.

The Independent UK

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.

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USAFacts

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.

The Independent UK

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

People will prioritise gifts people need rather than want

Evening Standard

First-time buyers face increasingly impossible housing ladder task

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

The Guardian - UK

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

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 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.

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