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The Latest Breaking News from Economy

Tories will never again put economy at risk like Liz Truss did, Mel Stride says

Shadow chancellor accepts Truss’s mini-budget badly damaged party in clearest repudiation yet of ex-PM

The Guardian - UK

Asian shares trade mixed after Wall Street’s rally stalls on U.S. economic data

Asian shares are trading mixed, as Wall Street’s big recent rally lost some momentum following a pair of potentially discouraging reports on the American economy

The Independent UK

‘Bold rewiring’ of economy needed as Tories seek to regain trust, Stride says

In a speech on Thursday, Mel Stride is expected to promise the Conservatives will ‘never again’ make offers they cannot afford.

Evening Standard

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Liz Truss lashes out as Tories apologise for her disastrous mini-budget

Shadow chancellor Mel Stride vowed the Tories would ‘never again’ make offers they cannot afford as he warned his party ‘needs to shine the light of truth on what Reform is all about’

The Independent UK

Confidence in UK economy falls from 45% in 2015 to 28% a decade later – survey

Some 66% of consumers pay more attention to their budget than they did 10 years ago, the study found.

Evening Standard

Day of high drama in Tasmanian politics – as it happened

This blog is now closed

The Guardian - AU

Productivity pickle a top priority for upbeat treasurer

Falling interest rates and Australia's competitive advantages are reasons for optimism, says the treasurer as he sets his sights on improving productivity.

AAP

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Could the resurgence of Germany’s steel industry help to revive its economy?

US President Donald Trump's 50% tariffs on steel and aluminium imports come into effect today. But could Germany's defence industry be paving the way for a steel boom?

Euronews

Lee Jae Myung wins big in South Korea election – now he faces his toughest challenge yet

ANALYSIS: Lee Jae Myung takes on the leadership of South Korea with one of the strongest public mandates in decades – but also facing the daunting task of renegotiating Seoul’s relationship with the US, its most important ally. Shweta Sharma reports

The Independent UK

UK service sector confidence higher in May than since before autumn budget

Survey of business leaders shows many looking forward to improved sales and investment in next six months

The Guardian - UK

Germany's new government launches a program to encourage investment and boost the economy

Germany’s new government has launched a package of tax breaks and eventual tax cuts for companies

The Independent UK

Are we heading for a recession? Show me your nails

Who needs boring old facts and figures? According to a host of entirely authoritative influencers, changing tastes in manicures can tell us all we need to know about the economy, says Arwa Mahdawi

The Guardian - UK

Badenoch challenges Starmer at PMQs over winter fuel payment U-turn, Chagos deal and child benefit cap – as it happened

Tory leader says PM should apologise to pensioners and asks how U-turn will be funded

The Guardian - UK

How will South Korea’s new president engage with Trump’s White House?

Lee Jae-myung must tackle US leader’s trade war as he attempts to revive Asia’s fourth biggest economy

The Guardian - UK

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Euronews

EU-Ukraine trade reset: What comes after tariff-free access expires?

With the expiration of the EU’s tariff-free trade scheme for Ukraine, a new chapter begins in the economic relationship between Kyiv and Brussels - one marked by uncertainty, renegotiation and potential setbacks for Ukraine's war-stricken economy.

The Conversation

Extreme weather events have slowed economic growth, adding to the case for another rate cut

Australia’s economy slowed sharply in the March quarter, growing by just 0.2% as government spending slowed and extreme weather events dampened demand. That followed an increase of 0.6% in the previous quarter.

AAP

Australian shares surge towards record close

Australian shares have rallied as Australia's largest company hit a share price record, while weaker than expected GDP figures boosted interest rate cut hopes.

The Texas Tribune

Texas allows state agency investment in BlackRock after firm steps away from climate initiatives

The firm’s removal from a state list of companies “boycotting” the fossil fuel industry was lauded by Comptroller Glenn Hegar as a “meaningful victory” for Texas’ energy economy.

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The Conversation

In the trade wars, there are lessons for the US from Brexit. Australia and our trading partners should take note

While the Trump administration’s on-again, off-again trade wars wreak havoc on the business plans of the world’s exporters, the risks to the global economy continue to grow.

The Independent UK

Liberal Lee Jae Myung wins South Korea election and promises unity after turmoil

Victory heralds change for Asia’s fourth-largest economy after snap election triggered by impeachment

AAP

Economy stalls as private sector fails to pick up slack

More rate cuts might be needed to boost Australia's fragile economy with soft household consumption figures contributing to stalled growth.

Latin Times

Republican Senator Mocked for Declaring 'An Attitude' Would Spur Economic Growth: 'America Has a Vibes-Based Economy Now'

Sen. Marshall said the "number one" key to triggering economic growth is "just an attitude," an assertion that inspired more ridicule than confidence online.

Evening Standard

Blue chips edge higher amid gains on Wall Street

The FTSE 100 index closed up 12.76 points, 0.2%, at 8,787.02.

The Independent UK

Dollar General posts record sales as bargain stores attract more people anxious about the economy

Dollar General set a quarterly sales record of $10.44 billion and it upgraded its annual profit and sales outlook as Americans tighten their budgets and spend more at dollar stores and off-price retailers amid economic uncertainty

Evening Standard

UK growth downgraded as global economy dragged by Trump trade wars

In the UK, the economy is expected to grow by 1.3% this year, with the OECD cutting its previous forecast of 1.4%.

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