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The Latest Breaking News from Economy

US Treasury Chief Defends Tariffs, Warns Against Aligning With China

US Treasury Secretary Scott Bessent warned countries Wednesday against aligning with China on trade, as he defended President Donald Trump's move to remake the world's biggest economy through sweeping tariffs that have stoked market turmoil.

International Business Times

Chalmers calls Coalition’s economic plan an ‘ambush’ as Taylor plugs spending cuts in treasurers’ debate

Opposition and Labor offer opposing pitches for economy in treasurers’ debate hosted by Sky News

The Guardian - AU

What we know about Universal’s first European theme park

Universal’s first European theme park to open in Bedford in £50bn boost for economy

The Independent UK

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How windfalls from commodity price booms come back to bite exporters

When the wholesale prices of essential goods like food or oil suddenly rise, it can cause deep shifts in the economy that upend trade balances and hike inflation rates. This is known as a commodity price boom.

The Conversation

Scientific research is the lifeblood of our economy. Now, a wrecking ball has come.

DOGE cuts to NOAA Fisheries aren't making anything more efficient — they're stripping the ability of fishers to adapt their businesses to changing conditions. Similar impacts are being felt across different disciplines, and the U.S. science community must choose whether to look inward, hoping for better days, or to fight…

LiveScience

First images of what UK’s 476-acre Universal Studios theme park could look like

The first images of the UK's Universal Studios theme park have been released, showing the 476-acre site near Bedford that is expected to generate nearly £50 billion for the economy by 2055.

The Independent UK

China Seeks To 'Tariff-proof' Economy As Trade War With US Deepens

Beijing has vowed to "fight to the end" against Trump's aggressive trade policy, with number two leader Li Qiang saying authorities were "fully confident" in the resilience of the Chinese economy.

Latin Times

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Northern Ireland’s position ‘complex’ amid incoming US tariffs

Stormont Economy Minister Caoimhe Archibald said she has urged the UK and Irish governments to keep the region in mind in negotiations.

The Independent UK

Replit CEO Amjad Masad says AGI won't replace humans — Unless you're a "code monkey" with no ideas or understanding

Amjad Masad says AI will not replace humans unless you’re a "code monkey" who doesn't understand the economy or deliver unique ideas.

Windows Central

West Texas, oil companies brace for downturn following Trump’s tariffs

Supply chain disruptions and policy decisions can significantly change these costs for oil companies — and consumers.

The Texas Tribune

S&P Futures Plunge as Trump’s Tariffs Take Effect, China Retaliates

June S&P 500 E-Mini futures (ESM25) are trending down -1.42% this morning as U.S. President Donald Trump’s sweeping tariffs came into effect and China hiked tariffs on U.S. goods.

Barchart

S&P Futures Fluctuate as Trump’s Tariffs Take Effect, FOMC Minutes in Focus

June S&P 500 E-Mini futures (ESM25) are trending down -0.17% this morning, swinging between gains and losses as U.S. President Donald Trump’s sweeping tariffs came into effect.

Barchart

India’s central bank cuts interest rates after Trump’s tariffs kick in

Reserve Bank lowers growth forecast after economists estimate US tariffs could shave 20-40 basis points off growth in world’s fifth-largest economy this year

The Independent UK

How Trump's tariffs could shake up the global space industry

Trump-era trade policies could reshape the global space economy, straining transatlantic ties and pushing Europe toward new partnerships and greater autonomy.

Space

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The Guardian - UK

S&P 500 sees one of biggest days since second world war after Trump levies pause – as it happened

Trump claims ‘China wants to make a deal’ after raising tariffs to 125%, while 90-day pause for most countries sparks market surge

International Business Times

China Pushes Back With 84% Tariff In Escalating Trade Clash with US

China is trying to tariff-proof its economy by boosting consumption and investing in key industries, but analysts say it remains critically vulnerable to the economic storm triggered by Donald Trump's 104% levies on its goods.

Euronews

IMF reaches a deal with troubled Argentina on bailout worth €18bn

The bailout provides a welcome reprieve to President Javier Milei as he seeks to overturn the country's old economic order.

International Business Times

India Central Bank Cuts Interest Rates As Trump Tariffs Kick In

India's central bank cut interest rates in the world's fifth-largest economy on Wednesday as US President Donald Trump's tariffs kicked in and policymakers warned of "challenging global economic conditions".

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International Business Times

Argentine Congress Backs Inquiry Into Milei Crypto Scandal

The libertarian president hailed the $LIBRA meme coin as a "private project" aimed at "stimulating the growth of the Argentine economy, by financing small businesses and Argentine entrepreneurs."

AAP

Albanese beats drum on economy as trade clouds gather

Fresh off a narrow debate victory, the prime minister has embraced the sights and sounds of Chinatown while spruiking the economy.

The Independent UK

Universal’s first European theme park to open in Bedford in £50bn boost for economy

The 476-acre site is expected to see 8.5 million visitors in its first year and generate 28,000 jobs

The Independent UK

Northern Virginia leaders plead for state's help amid federal job cuts

Northern Virginia leaders are urging lawmakers to enact emergency legislation to help stabilize their local economy as the White House cuts federal jobs

Barchart

Dollar Weakens as US Threatens Retaliatory Tariffs on China

The dollar index (DXY00 ) Tuesday fell by -0.40%. The dollar was under pressure Tuesday because of concerns that a global trade war could derail the economy and force the Fed to cut interest rates. President Trump said he would boost tariffs on China by 50% if it doesn’t remove...

AAP

Australia looks to Asia, Europe amid US tariff turmoil

The prime minister has talked up regional opportunities as his government seeks to dispel fears of a recession following a tariff-induced market meltdown.

The Independent UK

Now Fox News is suggesting Trump could win Nobel Peace Prize over tariffs

‘Is there a Nobel Prize in trade? I don’t know, but maybe he might be up for that one,’ Fox News anchor John Roberts declared on Tuesday

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