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The Latest Breaking News from Economy

European Central Bank raises interest rates to fight inflation; Nationwide to lift fixed mortgage rates – as it happened

UK mortgage holders face worst squeeze since 1990s crash, while Europe’s central bank hikes borrowing costs to battle inflation

The Guardian - UK

New Zealand's economy dips into recession as higher interest rates bite

New figures show that New Zealand’s economy has dipped into recession as higher interest rates take their toll

The Independent UK

Stock market today: Asia shares mixed after Fed holds rates steady and hints of hikes ahead

Asian trading is mixed after the Federal Reserve held interest rates steady

The Independent UK

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Australia’s unemployment falls to 3.6% as the economy adds 76,000 jobs in May

Employers expand workforces even as growth slows, surprising economists

The Guardian - AU

Unemployment rate falls to 3.6 per cent

The jobless rate has fallen back to 3.6 per cent after 76,000 jobs were added to the economy.

The New Daily

New Zealand falls into recession, as impact of cyclones takes toll

As the economy shrinks by 0.1% in the March quarter, officials say the impacts of cyclones Hale and Gabrielle worsened the economic outlook

The Guardian - AU

Whoever takes office will inherit a mess

The election result is clear and the MOU to form a 312-seat government in the 500-seat parliament is agreed. But who will lead Thailand and its economy for the next four years is unclear. Whether it will be a pro-equality government, pro-growth government, or even a pro-big-spending government remains in…

Bangkok Post

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Quiet quitting is a nearly $9 trillion suck on the global economy, Gallup estimates

Last year, quiet quitting became a big workplace trend—now we know what it's costing the global economy and it's big.

Fortune

Fed keeps rates unchanged for first time in 15 months as inflation slowly eases

The Federal Reserve’s move to leave its benchmark rate at about 5.1% suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation.

Chicago Sun-Times

Corporate ‘greedflation’ could lead to a ‘deeper for longer’ recession, top investment bank strategist warns

Greedflation may force the Federal Reserve to keep interest rates “higher for longer” to fight inflation, pushing the economy into recession.

Fortune

French minister Schiappa quizzed by Senate over 'Marianne Fund' payments

During three hours of grilling by a Senate committee, the minister for the social economy and associations, Marlène Schiappa, denied Wednesday that she had favoured the main beneficiary of the "Marianne Fund" an entity she helped set up in the spring of 2021.

Radio France Internationale

American Airlines adds bag charges for basic economy travelers on international trips

American Airlines is charging all customers who book basic economy airfares to check bags.

Tribune News Service

Federal Reserve officials announce pause in US interest-rate hikes

Even with the pause, Fed officials suggest further increases may come depending on how close economy gets to 2% inflation target

The Guardian - US

The Guardian view on Rishi Sunak’s economics: recession is an acceptable price to pay

Editorial: Growing the economy by shrinking it first is a high-risk political strategy

The Guardian - UK

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Fortune

Treat culture: Millennials and Gen Zers are rebelling against the rough economy with little purchases that keep the malaise at bay

Late-stage capitalism has the youth spending on the smallest pleasures. "It's almost like your Sisyphean existential rebellion via artisanal ginger ale."

Tribune News Service

US slips in supply-chain ranks after child-labor violations

The U.S. has joined a list of mostly emerging-market countries where ESG supply-chain risks are “high,” after the world’s richest economy failed to provide adequate protections for vulnerable populations including migrant children, according to a fresh study.

Barchart

Upwork (UPWK) and Fiverr (FVRR): Two Ways of Approaching the Same Problem

While an argument can be made that either Upwork or Fiverr is superior to the other, the reality is that both UPWK and FVRR represent very similar investments.

The Hindu

Cabinet clears 14th Five-year Plan approach paper

It aims to transform Kerala into a modern economy founded on democratic values, sustainable development, social welfare, and scientific temper.

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The Hindu

Campus placements in Mysuru exceed expectations indicating economic buoyancy

Camps placements in some of the engineering colleges in Mysuru have exceeded expectations in the current cycle of recruitments reinforcing the view of buoyancy of the economy.

The Guardian - UK

Keir Starmer dares Rishi Sunak to call immediate general election

Labour leader says PM is more focused on Tory wrangling over honours than on economy and asylum

The Conversation

Canada needs to set its businesses up for success in the clean energy transition

Canada committed to the United Nation Sustainability Development Goals (SDGs) in 2015. These 17 goals aim to “achieve peace and prosperity for people and the planet.” This is an important, yet challenging, undertaking.

The Conversation

How a UK hydrogen car industry could cut fuel costs and carbon emissions

British car company Jaguar Land Rover’s owner, the Indian conglomerate Tata, is expected to finalise a deal soon to build a multi-billion pound electric vehicle (EV) battery plant in the UK.

The National (Scotland)

Circular Economy Bill to tackle Scotland's 'throwaway culture', says minister

LEGISLATION to tackle waste and improve recycling rates has been introduced to the Scottish Parliament, including powers which would give local…

Daily Record

Hope for flagship unit revamp success amid glut of closures in Perth city centre

Restaurant and flats plan at former Lakeland outlet on St John Street given green light

Manchester Evening News

UK economy returns to growth after Brits spend more in pubs, bars and shops

The UK's GDP was boosted by 0.2 percent in April after a fall in March

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