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The Latest Breaking News from Economy

Yellen Criticizes Fitch’s Credit Downgrade, Defends Strong US Economy

Treasury Secretary questions Fitch's assessment, highlights robust economic recovery

Zenger

Bank of England poised to raise UK interest rates to 5.25%

Fears remain over stubborn inflation but slowing economy likely to fuel more cautious approach from rate-setters, say analysts

The Guardian - UK

Apple and Amazon will deliver the real barometer of the economy

The twin tech giants, which represent billions in consumer and business spending, will deliver highly-anticipated quarterly reports on Thursday.

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

‘Women short-changed as 65% of weekly working hours ignored in official data’

Oxfam said unpaid caring and domestic responsibilities are rendered invisible in the formal economy and not valued properly.

The Independent UK

Here's why top economists are calling Fitch's decision to downgrade America's credit rating 'bizarre and inept'

“The rating downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance," Fitch Ratings said.

Fortune

A carbon tax can have economic, not just environmental benefits for Australia

A new study has found that a carbon tax, accompanied by “revenue recycling”, can produce both environmental and economic benefits for Australia.

The Conversation

‘Imagine no recession, it’s easy if you try.’ Bank of America flip-flops on its recession call, arguing a ‘soft landing’ is on the way

The investment bank has been predicting a recession since the summer of 2022. A full year later, it’s having second thoughts.

Fortune

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Steel industry told to reduce environmental footprint

Special Chief Secretary (Environment, Forest, Science & Technology) Neerabh Kumar Prasad has urged the steel industry to adopt innovative practices to reduce environmental footprint and contribute to sustainable development. Speaking at the conference on ‘steel and alloys’ organised by Andhra Pradesh chapter of the Confederation of Indian Industry (CII) on…

The Hindu

To fight financial illiteracy, we mapped our money system as waterworks

Over the past decade, the super-rich and large corporations have been able to borrow at record low interest rates. This influx of easy money has shored up markets for yacht-backed-loans and securities, dividends, share buy-backs, and merger and acquisition deals.

The Conversation

Note to Keir Starmer: delaying investment in childcare would be bad economics – and bad politics

Failure to support women affects productivity. Neglect of female voters could also cost Labour crucial votes, says Ignacia Pinto of the Women’s Budget Group thinktank

The Guardian - UK

‘Bidenomics’ is working – which means Biden and the Democrats may win too

Biden’s economic policies are the most successful in the US in decades. That puts the Democrats on a strong political footing

The Guardian - US

Israel’s Natural Gas Revolution Saves Economy Billions

An in-depth study reveals over NIS 316 billion ($86.7 billion) in savings over the past decade.

Zenger

Sales are way down at a Florida flea market. A new immigration law could be to blame.

Florida's new strict immigration law threatens the state's economy and could hurt political ambitions for some GOP candidates. Vendors at a popular flea market are already seeing the impacts.

WEKU

How to go green with your finances

The government’s commitment to creating a net zero economy by 2050 is under scrutiny, but what impact does going green have on your wallet?

The Week

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The Guardian - UK

Wall Street opens in the red amid global market rout after US credit downgrade – as it happened

Global stock markets tumble after Fitch downgrade; US ADP jobs report much stronger than expected

Zenger

Fitch Downgrades US’ Long-Term Rating From “AAA” To “AA+” ‌

Former treasury secretary Larry Summers says downgrade when economy is looking stronger than expected is “bizarre and inept”.

The Independent UK

Stock market today: Asian shares slip, echoing Wall Street's retreat from its rally

Asian shares have fallen after Wall Street took a step back from its big rally as markets tried to digest a slew of earnings

Pedestrian.tv

An Uber Driver Was Allegedly Attacked By Passengers W/ Hammers While Doing A Pick Up In Qld

The attack occurred amidst calls for better safety for gig economy workers.

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news in one place.

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Al Jazeera

US credit rating downgraded over rising debt, ‘standards of governance’

The downgrade marks only the second cut by a major rating agency in US history.

Zenger

AI’s Fabrication Problem Threatens Economic Potential, Warns AP Report

Generative AI's tendency to invent information hampers industries and global economy

The Independent UK

Fitch downgrades US credit rating, citing mounting debt and political divisions

Fitch Ratings has downgraded the U.S. credit rating, citing an expected increase in government debt over the next three years and a “steady deterioration in standards of governance” over the past two decades

StockNews.com

August Stock Market vs. Big 3 Economic Reports

The new bull market is hand as the S&P 500 (SPY) moves ever closer to the all time highs. However, that doesn’t mean we can fall asleep at the wheel as the health of the economy is always part of the stock investment equation. As such let’s review the Big…

Evening Standard

OPINION - How summer of music brought London’s tourists ‘roaring back’: The Leader podcast

London Mayor Sadiq Khan says the capital’s tourist economy is “roaring back” to life after Covid - but is it, and who’s paying a fortune for those inflated entry ticket, food and drink prices?

The National (Scotland)

How Westminster SCUPPERED Scotland's just transition

THE UK Government’s announcement of hundreds of new North Sea oil and gas licenses as part of a promise to max out fossil fuels in the North Sea…

The Guardian - AU

RBA rate rises are like the Matildas’ fortunes – improving but with further challenges ahead

It is not just what Australia brings to the field that will determine whether more interest rate pain will be needed

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