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The Latest Breaking News from Economy

Republican gains among Latino voters face 2026 test in California - Roll Call

The midterm elections will test the durability of Latino voters' shift toward Donald Trump, especially in several California districts.

Roll Call

Meta’s Mark Zuckerberg Spent Over $60 Billion Quietly Creating a New ‘Massive Economy’ Worth What ‘Could Be Trillions’

Despite Mark Zuckerberg's ambitious 2022 vision of a billion people engaging in commerce within the metaverse by the end of the decade, Meta has made progress but remains far from this goal.

Barchart

You would think after nearly three years of being wrong, the RBA might start to question its economics. But no

Now that inflation is back within the target range, suddenly the RBA has rediscovered that it is supposed to also care about full employment

The Guardian - AU

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Starmer indicates partial U-turn over winter fuel payments squeeze

Sir Keir Starmer told MPs he wanted more pensioners to be eligible for the payment after Labour’s decision to means-test it after coming into office.

Evening Standard

Starmer to look at making more pensioners eligible for winter fuel allowance

The Prime Minister has faced pressure to change course over the squeeze on benefits.

Evening Standard

Politics with Michelle Grattan: Jim Chalmers on keeping Australia out of recession amid the ‘dark shadow’ of global instability

This week, the Reserve Bank delivered welcome news for mortgage holders, with another 25 basis points rate cut.

The Conversation

Keir Starmer confirms U-turn on winter fuel payment cuts

Government to loosen eligibility rules for pensioners in face of backlash against decision to means test benefit

The Guardian - UK

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Keir Starmer: I want to make more pensioners eligible for winter fuel payments

Sir Keir said the Government would act after first needing to ‘stabilise the economy with tough decisions’.

The Independent UK

Stocks Slip Before the Open as Bond Yields Climb on U.S. Debt Fears, More Retail Earnings on Tap

June S&P 500 E-Mini futures (ESM25) are down -0.70%, and June Nasdaq 100 E-Mini futures (NQM25) are down -0.67% this morning as Treasury yields continue to rise on worries about U.S. government debt while U.S. President Donald Trump pushes to advance his tax bill.

Barchart

Japan shipments to US decline as trade tariffs slow export growth

The world's fourth-largest economy is one of the hardest hit by the US administration's elevated trade tariffs on cars, resulting in Japanese exports slowing in April.

Euronews

Germany's economy will stagnate this year as tariffs cast a shadow, advisers say

Germany’s economy will stagnate this year as the country faces headwinds from U.S. President Donald Trump’s tariffs and trade threats

The Independent UK

Will EU deal make food cheaper, add $12bn to the UK economy?

PM Keir Starmer has heralded a ‘landmark deal’ seeking to reset ties between the United Kingdom and the European Union.

Al Jazeera

Wonder wallets: Oasis fans ‘set to spend £1bn on UK reunion tour concerts’

Spending on the Oasis tour is part of a broader shift towards the ‘experience economy’, Barclays said.

Evening Standard

Stocks Fall on Rising Bond Yields and Concern About Foreign Investment Interest

The S&P 500 Index ($SPX ) (SPY ) Tuesday closed down -0.39%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.27%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.37%. June E-mini S&P futures (ESM25 ) are down -0.44%, and June E-mini Nasdaq futures...

Barchart

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The Conversation

Is Donald Trump doing the world a favour by isolating the United States?

United States President Donald Trump’s tariffs against most of the world tanked stock markets, disrupted the U.S. bond market and destabilized the global economy.

The Independent UK

Reeves ‘considers U-turn’ on winter fuel payment cuts for millions of pensioners

The government has faced mounting calls to reverse the winter fuel cuts

InsideEVs

Trump Could Clamp Down On EVs Even More With New Fuel Economy Rules

The Trump administration and its allies say that cars are too expensive. These days, not many people would disagree, but the GOP's underlying target with those claims is often electric vehicles. Now, Trump's U.S. Transportation Department seems to be going after fuel economy rules that were used by the Biden administration…

The Guardian - UK

Pace of UK interest rate cuts is too rapid, Bank of England chief economist says

Huw Pill says rate cuts could fuel inflation resurgence and urges colleagues to be cautious before making further cuts

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Fortune

U.S. economy is experiencing 'death by a thousand cuts', says Deutsche Bank

Deutsche Bank's Jim Reid says Moody's recent debt downgrade continues a drip of bad fiscal news for the American economic outlook.

The Guardian - US

Trump can complain all he wants – but he can’t stop his own economic mess

Between his tariffs and his regressive ‘big, beautiful bill’, the president is wreaking havoc – and he never learns

The Conversation

Victorian budget has cash to splash on health, transport but new levies, job cuts, rising debt signal pain ahead

There was not a lot of cheer in the media reporting ahead of the 2025/6 Victorian budget released on Tuesday. Debt and deficits dominated the coverage.

The Conversation

RBA cuts interest rates, ready to respond again if the economy weakens further

The Reserve Bank of Australia cut the official interest rate for the second time this year, as it lowered forecasts for Australian economic growth and pointed to increasing uncertainty in the world economy.

International Business Times UK

JPMorgan CEO Issues Warning: Tariffs Could Wreck Economy While Investors Remain in the Dark

Dimon's call for swift trade negotiations reflects urgency, as prolonged uncertainty could amplify negative effects, making them harder to reverse.

Euronews

China cuts key lending rates to record lows to counter the impact of US tariffs

China’s central bank has cut its key lending rates to record lows to bolster the economy and cushion the impact of escalating trade tensions with the United States. The move follows a sweeping stimulus package announced earlier this month.

AAP

Full extent of Trump's tariff slap on economy revealed

The Reserve Bank predicts trade uncertainty will cause Australia's GDP to grow 0.3 percentage points lower in 2025, shaving $8 billion off the economy.

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