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The Latest Breaking News from Economy

‘I’ll have to go home’: How India’s LPG crisis is pushing gig workers to the brink

Triggered by the conflict between Iran and the US-Israel alliance, an acute LPG shortage is placing a serious strain on India’s gig economy. As restaurants suspend operations or pivot to slower coal and electric stoves, food preparation has stalled – triggering a direct collapse in online order volumes.

Newslaundry

Rachel Reeves urged to raise taxes on companies profiting from Iran war

The price of oil has skyrocketed since the war in Iran began and the UK economy is predicted to see a drop in growth

The Independent UK

Consumer confidence drops amid ‘ripple of fear’ about Middle East conflict

The consumer confidence index by GfK saw expectations for the general economy drop.

Evening Standard

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UK consumer confidence plunges amid ‘twin threat’ fallout from Iran war

The consumer confidence index by GfK saw expectations for the general economy drop

The Independent UK

I went to CPAC and found Trump supporters unhappy about Iran, Epstein files and the economy, even while the fans at the MAGA conference celebrate his immigration policies

There is a pall over the Make America Great Again, or MAGA, movement. Donald Trump overpromised. His public support has fallen. Some “America First” die-hards now openly criticize him.

The Conversation

Could this energy crisis be worse for the global economy than COVID?

Despite reports of negotiations between the US and the Iranian regime, the Strait of Hormuz remains effectively closed to most oil tankers, with only a small number of vessels being allowed to pass. The result is a loss of roughly 11 million barrels per day (mbd) of oil and petroleum…

The Conversation

Spain's parliament approves €5 billion package to curb impact of war in Iran

The European Union's fourth-largest economy has in recent years registered growth rates far higher than its peers, notably thanks to domestic consumption, tourism and exports.

Euronews

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Trump's war in Iran is costing the U.S. economy 10,000 jobs a month, Goldman Sachs says

The bank sees the Iran-driven oil shock stripping 10,000 jobs a month from U.S. payrolls through year-end. Leisure, hospitality, and retail are hit worst.

Fortune

Pension Schemes Bill clears third reading in House of Lords - what this means

The Pension Schemes Bill has cleared its third reading in the House of Lords, moving closer to becoming law. The legislation aims to enhance defined contribution pension schemes by offering more information, consolidating savings, and securing improved returns for members. A contentious aspect of the Bill is a reserve power…

The Independent UK

Iran war will jolt U.S. inflation, new analysis finds

The OECD projects U.S. headline inflation will be 4.2% this year.

Axios

Senator Bernie Sanders announces bill to pause US data center construction: 'AI and robotics will impact our economy, our democracy, our privacy rights... even our very survival as human beings on this planet'

'I fear that Congress is totally unprepared for the magnitude of the changes that are already taking place.'

PC Gamer

UK gets biggest cut to growth outlook this year among world’s major economies

The OECD published the biggest downgrade to the UK’s growth outlook for 2026 than any other country in the G20 group of economies.

Evening Standard

Primark, Magnum, Castrol... who’s next? Why Britain’s top brands are being sold or split by their owners

A weak pound and a sluggish economy mean some of our top brands are up for grabs

The Independent UK

Rishi Sunak tells CEOs to move fast on AI—or risk landing on the wrong side of the K-shaped economy

Also: All the news and watercooler chat from Fortune.

Fortune

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The Guardian - AU

Australian growth forecasts slashed as global economy faces inflation spike

OECD says the Middle East war will test the world’s resilience with Australia expected to suffer from higher rates and inflation

The Guardian - UK

Middle East conflict will damage UK’s economy ‘more than any other’

Organisation for Economic Cooperation and Development says UK economy will grow by just 0.7% this year

The Guardian - AU

Auction clearance rate slumps to 57% nationwide as interest rate hikes prompt Australians to sell

Homebuyers lose confidence amid higher rates and Iran war-linked price rises across the economy, buyers agent says

The Independent UK

British consumer confidence plunges to record low as Middle East conflict fuels inflation fears

British consumers are anticipating rising costs over the coming months due to the Iran war

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news in one place.

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The Independent UK

Consumer confidence ‘collapses’ as Middle East war escalates

Consumer expectations of the economy over the next three months has fallen to its lowest level on record, the BRC and Opinium found.

AAP

Global group backs cuts, rate rises to curb inflation

Australia's inflation rate will peak higher than previously forecast, as surging oil costs cause consumer prices to increase, a Paris-based policy body says.

Reason

Politicians Want To Fix the Economy. So Why Do They Keep Making It Worse?

"Central planning doesn't work because everybody has different ideas for themselves," says Ryan McMaken of the Mises Institute.

The Conversation

This is how the 1970s oil shock played out. There are lessons for the economy today

On October 6 1973, the Yom Kippur War – mainly involving Egypt, Syria and Israel –triggered one of the biggest energy crises of the 20th century. Eleven days later, several Arab members of the Organization of the Petroleum Exporting Countries (OPEC) announced they would stop selling oil to countries supporting…

AAP

RBA ready to shift up a gear as the neutral rate rises

The Iran war will hurt consumers by pushing up prices and slowing the economy but the Reserve Bank must act to contain inflation expectations, an official says.

International Business Times UK

United Airlines Launches 'Relax Row'—Economy Seats That Turn Into Couches For Long Flights

Discover United Airlines' new 'Relax Row' concept, transforming economy seats into couch-like spaces for added comfort on long-haul flights

The Guardian - AU

Australians can expect high fuel costs to linger for far longer than the war in Iran

Rising inflation and unemployment mean effects of Iran war could be even worse than the post-Covid cost-of-living crisis

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