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The Latest Breaking News from Economics

Cannabis Demand Sees Nominal Impact by Surge in U.S. Inflation

Summary: ● Inflation is having only a nominal impact on retail cannabis demand ● While states have experienced a decrease in demand, this decline is simply the returning to pre-pandemic consumption levels

Benzinga

We Are Not In A Recession And Inflation Is The Reason Why, Says Nobel Prize-Winning Economist

Richard Thaler is the 2017 recipient of the Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics. Thaler researches decision-making psychology, which bridges the gap between economics and psychology, as well as behavioral finance and economics.

Benzinga

The crises of the past two years have killed the idea that markets will fix everything

Government intervention, crucial during Covid, is just as vital now, as energy prices soar and living standards plummet, says Guardian economics editor Larry Elliott

The Guardian - UK

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Watch as economics expert Richard Murphy answers YOUR questions on GERS

THE annual GERS figures have been published, bringing a mixed bag of news for Scotland’s economic outlook.

The National (Scotland)

China’s property market is in freefall. What does this mean for the world economy?

The sector is dangerously overheated – but unlike the 2008 financial crisis, the global ripple effect is likely to be limited, says professor of economics Keyu Jin

The Guardian - UK

Cruise Stocks -- Buy the Dip or Abandon Ship

While the cruise shipping industry has been able to stage a post-pandemic recovery, many industry participants are yet to return to profitability. With inflation, rising interest rates, fears of recession, and unenviable unit economics, cruise shipping companies are struggling to keep themselves afloat. So, let’s take a closer look at…

StockNews.com

Ferris Bueller actor revives famous catch-phrase to beg Trump-supporting Devin Nunes to return to Congress

Ben Stein, the monotoned economics teacher in Ferris Bueller’s Day Off, calls for ‘Nunes, Nunes, Nunes’ to return to Congess

The Independent UK

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Skilled migration needs overhaul: report

A report from Deloitte Access Economics has urged an overhaul of Australia's skilled migration program to help ensure a strong, long-term labour market.

AAP

The latest appointments in Welsh business

New appointments include those at Shaw Healthcare, HMT Sancta Maria, Savills, Rio Architects, Brickabiliity, Intelligent Ultrasound and Hollingsworth Group

Birmingham Post

Oil prices drop by $5 to lowest since before Russia invaded Ukraine – as it happened

Live coverage of business, economics and markets as Chinese economy shows signs of slowdown and Institute for Fiscal Studies warns on maintaining similar level of energy bills support

The Guardian - UK

Net gains as language barriers fall in global trade

All corners of the planet are en route to better internet access, helping send the traditional language barriers plaguing global trade tumbling.

360info

Gordon Brown economics versus Liz Truss tax cuts: a new twist in the battle to resolve the UK’s cost of living crisis

The ongoing Conservative Party leadership hustings haven’t seen much agreement between candidates, but they have resulted in the creation of a new political narrative: “Gordon Brown economics”. Foreign secretary Liz Truss explained away her rejection of cost of living “handouts” for households with the phrase. But even as she indicated…

The Conversation

Boris Johnson in ‘lower bills’ talks with energy bosses but leaves action to next leader – as it happened

Live, rolling coverage of business, economics and financial markets as chief executives of energy companies visit Downing Street to discuss crisis

The Guardian - UK

Liz Truss hints at cost of living U-turn as she could give Brits 'targeted help'

The Tory leadership hopeful pointedly refused to rule out cost-of-living payments - seconds after branding them “Gordon Brown style economics I don’t support”

Daily Mirror

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The Independent UK

Truss rejects ‘Gordon Brown economics’ as Tory candidates address cost of living

Liz Truss was speaking at a hustings debate where Rishi Sunak said he would target pensioners and the most vulnerable for support with fuel bills.

Daily Mirror

Liz Truss attacks cost of living 'Gordon Brown handouts' and brands crisis talks 'bizarre'

The Foreign Secretary appeared to make fun of the former Prime Minister who pleaded with the Tory leadership candidates to sit down with the outgoing PM and thrash out an emergency package before a 'financial timebomb'.

The Guardian - UK

Who knows if Truss or Sunak is right on the cost of living crisis – where are all the economists?

The profession seems to have gone AWOL, just when we could do with a bit of modelling on tax cuts v handouts, says Guardian columnist Simon Jenkins

Asharq Al-Awsat

Oxford Economics Predicts Saudi Economy to Cross $1 Trln Mark in 2022

Oxford Economics has predicted that the Saudi economy will cross the trillion-dollar mark for the first time this year. The leader in global economic forecasting and econometric analysis pointed out that the growth rate of Saudi Arabia's national product will reach 7.5 % during 2022. The International Monetary Fund has…

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The Guardian - UK

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

Reuters

Climate change, scarcity chip away at degrowth taboo

Degrowth - the idea that a finite planet cannot sustain ever-increasing consumption - is about the closest you can get to a heresy in economics, where growth is widely held as the best route to prosperity.

The National (Scotland)

Scotland is being held back by the UK's poor economic polices

THE debate around the economics of independence has failed to focus enough on the costs of Scotland staying in – rather than leaving – the…

The Independent UK

Bank of England’s dire recession warning too ‘optimistic’ amid gas threat, economists say

‘If Russia were to completely cut supplies and we had a cold winter it would be a perfect storm’

Newcastle Herald

Viability of Newcastle gas terminal in the balance

The company behind one of the region's largest energy infrastructure projects - the proposed $589 million Newcastle Gas Dock - says unfavourable changes in economics of the gas industry has forced it to weigh up the project's commercial viability.

The Conversation

Inflation rates are rising in the US – an economist explains why

Consumer prices in the U.S. are rising due to inflation at the fastest rate they have in decades. Earlier this summer, SciLine interviewed Martha Olney, a teaching professor emerita of economics at the University of California, Berkeley, about what’s causing prices to rise and what the government can do to…

ABC News

Corporations' profits soaring as inflation skyrockets and real wages fall, report reveals

There are fresh calls for Australia's biggest corporations to rein in record profits in order to provide low wage earners with some cost-of-living relief.

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