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The Latest Breaking News from Economics

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

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

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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

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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

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.

The Independent UK

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'.

Daily Mirror

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

The Guardian - UK

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…

Asharq Al-Awsat

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

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.

Reuters

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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…

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news in one place.

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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.

Evening Standard

Conservative leadership race: Jacob Rees-Mogg accuses Rishi Sunak of ‘fantasy’ economics

New poll shows gap between Tory leadership candidates has narrowed

The Guardian - UK

Rishi Sunak pledges 20% tax cut by end of decade in last-gasp pitch to members

Former chancellor warns party members against ‘fantasy economics’, adding voting for Truss would be ‘self-sabotage’

Reason

OnlyFans Star Aella Talks Sex Work Economics

How sex worker Aella went from factory work to OnlyFans stardom and data science research on fetishes

The Guardian - UK

The difference between the Tory candidates’ tax plans? One is bad, the other is really bad

Neither has the first idea of what they’re doing. Truss’s proposal does little for those who need it, and Sunak’s is a desperate U-turn, says Larry Elliott, the Guardian’s economics editor

Bangkok Post

Toyota plans $1.8bn Indonesia investment to build electric vehicles

JAKARTA: Japanese carmaker Toyota Motor Corp plans to invest 27.1 trillion rupiah ($1.80 billion, 66 billion baht) in Indonesia in the next five years to produce electric vehicles (EVs), Indonesia's economics ministry said on Wednesday.

The Guardian - US

John Oliver on the causes of the US inflation crisis: ‘An unprecedented perfect storm’

The Last Week Tonight host offers an Economics 101, breaking down the multitude of factors that have caused the worst US inflation in 40 years

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