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The Latest Breaking News from Economy

Here's What Happens to the Economy if Trump Fires Jerome Powell and Installs a Loyalist at the Fed

The Fed should be replaced by free markets, not unbridled presidential power.

Reason

Choucri Mansour Builds a Legal Practice That Helps Immigrant-Owned Businesses Gain Ground in the U.S.

Choucri Mansour, founder of Mansour Legal Services, MLS Global APC, represents a new breed of legal practitioner who understands that in our hyperconnected world, the old way of doing business—where clients bounce between multiple law firms, tax advisors, and compliance specialists—is not just inefficient, it's economically destructive.

International Business Times

Voices: ‘The fairest way’ or a ‘political disaster’? Readers split on whether Reeves should raise income tax

YOUR VIEWS: Our community is split over whether raising income tax is the fairest way to plug Britain’s £50bn budget gap or a risky move that could harm growth and Labour’s political standing

The Independent UK

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I Asked ChatGPT What Would Happen If Minimum Wage Rose at the Same Rate of Inflation — Here’s What It Said

What if minimum wage rose with inflation? I asked ChatGPT to crunch the numbers—see how much workers would earn and what it means for the economy.

GOBankingRates

Gold and gated communities: How rich India’s hoarding fuels inequality

Jo bhi hai wo theek hai, zikra kyon karenHum hi sab jahaan ki, fikra kyon karen.– Sahir Ludhianvi, Phir Subah Hogi, 1958. Truth, when repeated often enough, starts sounding very banal. It just doesn’t register. Take this sentence: India is an economically unequal country. The evidence is all around us, and…

Newslaundry

Richard Werner Tells Tucker Carlson Wrong To View Banks As 'Intermediaries,' Says They Have 'Unique Power' That Economists Overlook

Renowned economist Richard Werner says popular textbooks miscast banks as mere middlemen and ignore their central "power to create money," an omission he claims distorts debates over credit just as the U.S. economy slows and the Federal Reserve weighs rate cuts.

Benzinga

Rethink on rules for everyday items could spur economy

Australia could ease business burdens and save consumers billions every year by ensuring requirements for everyday products align with international standards.

AAP

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Reeves and Starmer to prepare ground for tax rises in a difficult autumn budget

Exclusive: The Guardian has been told that discussions about increases include a near-certain gambling levy

The Guardian - UK

Australia can hit an 85% emissions cut by 2035 – if government and business seize the moment

Discussions are hotting up over Australia’s 2035 emission reduction target, which the federal government is due to reveal by September this year. It will be a crucial announcement, for several reasons.

The Conversation

Bad Bunny’s Puerto Rico residency is a rare example of fame used for good

The megastar’s unprecedented 21-date residency is estimated to bring $200m into the local economy with early tickets exclusively reserved for locals

The Guardian - US

Northern Ireland’s AI-related revenue ‘reached £188m in 2024’

Stormont Economy Minister Caoimhe Archibald has projected that AI ‘will transform our economy’.

The Independent UK

Wealth tax will not work, says Scottish Secretary

Ian Murray rejected calls for a wealth tax, saying the only solution to the UK’s economic issues was to grow the economy.

Evening Standard

Interest rates: Why have they been cut and what does it mean?

Here the PA news agency looks at what the decision means and what the Bank expects to happen to the economy.

Evening Standard

7 Remote Freelance Gigs Growing Faster Than You Think in 2025

The freelance economy is booming and remote work is leading the charge. According to The Business Research Company, the freelance market is expected to surge to $8.39 billion this year, growing at an annual rate of 14.5%. Thanks to new tech and shifting workplace norms, some freelance gigs are quietly…

Beating Broke

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The Independent UK

The Latest: Wall Street and US trading partners worldwide react to Trump's latest tariffs

The U.S. has begun officially levying higher taxes on imports from dozens of countries Thursday, four months after President Donald Trump first announced plans to impose tariffs on most of the world while seeking new trade agreements across the board

The Independent UK

The Latest: US import taxes hit levels not seen in nearly 100 years

President Donald Trump began levying higher import taxes on goods from dozens of countries Thursday, just as the economic fallout of his monthslong tariff threats begins to create visible damage to the U.S. economy

The Independent UK

Voices: How the cut in interest rates might come back and bite us all

COMMENT: The flagging UK economy will get a badly needed boost from the Bank of England’s third rate cut of the year – but, says James Moore, given an unexpected jump in inflation, there could now be several unintended consequences

The Independent UK

Trump tariffs: American shoppers hit with 60% of costs as import taxes reach 100-year high

Tariffs on U.S. trading partners finally in full effect months after ‘Liberation Day’ announcement and ensuing turmoil and uncertainty

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Euronews

China’s exports grow despite tariff turmoil as trade pivots to Africa

While a trade deal with the US is still being fine-tuned and talks are underway, the Chinese economy reports export growth and a rerouting of trade to Africa.

International Business Times

Germany Factory Output Lowest Since Pandemic In 2020

German industrial production slumped in June to its lowest level since the pandemic in 2020, data showed Thursday, underlining the fragility of Europe's top economy even before US President Donald Trump's new tariffs kicked in.

The Independent UK

The Bank of England cuts its main interest rate to 4%, the lowest level since March 2023

The Bank of England has cut its main interest rate by a quarter percentage point to 4%, as policy makers seek to bolster the sluggish U.K. economy

The Guardian - UK

Bank of England cuts interest rates as it warns food costs could push inflation to 4%

Policymakers cut base rate by quarter-point to 4% amid concern about strength of UK economy

Fortune

The U.S. economy may be ‘bad to ugly’ right now, but investors are loving every minute of it

Stocks sink as weak job growth and rising tariffs push the U.S. economy from “bad to ugly.”

Barchart

Stocks Climb Before the Open on Chip Tariff Relief and Ukraine Truce Hopes

September S&P 500 E-Mini futures (ESU25) are up +0.81%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.78% this morning as U.S. President Donald Trump’s 100% tariff threat on chip exporters included exemptions for firms investing in the U.S., while hopes for a truce in Russia’s war with Ukraine…

The Guardian - AU

Data reveals worst sectors for gender pay inequality in Australia

Starkest earning gaps for pathologists, stockbrokers and nurses as report warns workplace gender segregation ‘a handbrake’ on economy

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