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The Latest Breaking News from Economy

Blow to Chancellor as UK economy shrank unexpectedly in May

The Office for National Statistics said gross domestic product contracted by 0.1% in May, following a 0.3% drop in April.

Evening Standard

'Ticking tax timebomb' warning as UK economy shrinks 0.1% in May in fresh blow to Rachel Reeves

The City had expected a 0.1% rise in GDP

Evening Standard

Reeves ‘disappointed’ after UK economy unexpectedly shrinks for second month in a row

It followed a 0.3 per cent contraction in April, when US president Donald Trump announced tariffs

The Independent UK

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FTSE 100 Live 11 July: BP higher but index stalls, GDP figures disappoint

A surprise contraction in UK GDP today provided a downbeat note at the end of a record-breaking week for the FTSE 100 index.

Evening Standard

Rachel Reeves to try to reassure City investors after unexpected UK GDP fall

Chancellor’s Mansion House speech to cite ‘opportunity’ in attempt to shrug off anaemic economic performance

The Guardian - UK

Rachel Reeves says May’s fall in GDP is ‘disappointing’; Trump tariffs knock markets – as it happened

UK GDP falls by 0.1% in May, following 0.3% fall in April.

The Guardian - UK

Which European economy stands to suffer the most from US tariffs?

One-fifth of the EU’s exports are heading to the US. Tariffs on the carmaking sector hit the German economy the most, but potential tariffs on the pharmaceutical one could cost substantially to the Irish economy.

Euronews

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Trump to tour flood zone on Friday as he touts ties to deep-red Texas

Republican Governor Greg Abbott has repeatedly praised the Trump administration for its response to the tragedy

The Independent UK

China's Economy Likely Grew 5.2% In Q2 Despite Trade War: AFP Poll

China's economy is expected to have expanded more than five percent in the second quarter thanks to strong exports, analysts say, but they warned Donald Trump's trade war could cause a sharp slowdown in the final six months.

International Business Times

Trump's Plan to Impose 50% Tariffs on Brazil Highlights Illegal and Harmful Nature of his Trade Policy

It's an obvious abuse of emergency powers, a claim to unconstitutional delegation of legislative power, and a threat to the economy and the rule of law.

Reason

An Investor Wonders Why Trump's Tariffs Aren't Shaking The Markets. 'Does Wall Street Simply Not Care About The Economy Anymore?'

President Donald Trump is sticking to his Aug. 1 deadline to reimpose steep tariffs, but the stock market doesn’t seem too worried. On Reddit’s r/stocks, one confused investor posted, “Trump just announced plans to do Liberation Day 2.0 all over again, but this time the stock market stays… up??? Does…

Benzinga

Returning to the office isn’t the answer to Canada’s productivity problem — and it will add pressure to urban housing

As companies face pressure to increase productivity, many are calling workers back to the office — even though there is limited evidence that return-to-office policies actually improve innovation or performance.

The Conversation

Multimillionaire athlete-turned-CEO says he never buys expensive clothes and only flies economy because he's in constant fear of running out of cash

Tom Beahon has cofounded £1 billion sportswear brand Castore, but the frugal early years of living off £1,000 pounds monthly and living with his parents are “deeply branded” on his soul: "That day-to-day focus on cash, that paranoia.”

Fortune

How tariffs will be a weapon for countries to put the squeeze back on Trump and his red-state allies

‘When products like Kentucky bourbon are in the headlines, you know something's going on’

The Independent UK

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TechRadar

Microsoft is spending $4 billion to push AI in schools, universities and more

Microsoft pledges to spend $4 billion upskilling today's youth, so they have the skills for tomorrow's AI economy.

Fortune

Elon Musk says even if AI ultimately proves bad for humanity he still wants to be there to see it

The xAI founder said the very notion humans actually once managed an economy will seem very quaint in the future, like “cavemen throwing sticks into a fire.”

Pedestrian.tv

17 Last-Minute Travel Essentials To Help You Forget You’re Stuck In Economy

From trackable luggage to plane phone mounts and in-flight skincare.

International Business Times

AI Giant Nvidia Becomes First Company To Reach $4 Tn In Value

Nvidia became the first company to touch $4 trillion in market value on Wednesday, a new milestone in Wall Street's bet that artificial intelligence will transform the economy.

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We Got This Covered

Donald Trump broadcasts his desperate need for attention with yet another move from his usual playbook

Largest economy among six.

The Independent UK

TACO returns to Wall Street: Investors shrug off Trump’s latest tariff threat as nickname sets the investor’s mood

Experts weigh in on whether Trump will carry out his latest threat – and the consensus is that the uncertainty looming over the U.S. economy can’t continue, Rhian Lubin reports

Barchart

Has the U.S. Dollar Index Bottomed? Why I Think the Answer Is ‘Yes.’

Raw commodity bulls should embrace the apparent rebound in the U.S. Dollar Index.

The Guardian - UK

Give asylum seekers the right to work in Britain

Letter: The UK would not be an outlier if it allowed refugees to work – and doing so would bring a net benefit to the economy, writes Pete Winstanley

Bored Panda

Airline Food: Economy Vs. First Class (30 Pics)

What used to be a woman's size 12 in 1968 is a woman's size 4 today; what used to be third-class is economy-class today. What changed? We've grown more sensitive: I'm not overweight, I still fit into a size 12. I'm not a third-class passenger, I'm a price conscious individual…

Evening Standard

Starmer declines to rule out wealth tax as Badenoch brands him ‘weak’

Prime Minister fails to rule out tax on overall wealth as Tory leader tears into Prime Minister over ‘series of chaotic U-turns’

The National (Scotland)

Keir Starmer sticks by fiscal rules despite dire economic warnings

KEIR Starmer has pledged to stick with Labour’s self-imposed fiscal rules – despite dire warnings about the state of the economy.

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