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The Latest Breaking News from Economy

Retail Sales Are Projected to Fall 0.4%. Will These 3 Stocks Crumble Under Friday's Update?

With the Fed’s minutes revealing an increased risk of recession in the wake of a banking crisis, the retail sales data due tomorrow is also expected to telegraph softening consumer demand in a sluggish economy. Hence, I evaluated the fundamentals of three retail stocks, Torrid Holdings (CURV), The Aaron's Company…

StockNews.com

Crude Prices Slip on Concern the U.S. Economy is Slowing

May WTI crude oil (CLK23 ) this morning is down -0.22 (-0.26%), and May RBOB gasoline (RBJ23 ) is down -2.17 (-0.76%). May Nymex natural gas (NGK23 ) is down -0.057 (-2.72%). Crude oil and gasoline prices this morning are moderately lower. Crude prices are under pressure after today's larger-than-expected...

Barchart

Bank’s chief economist says UK economy still set to contract this quarter

Huw Pill said the latest GDP figures are ‘somewhat disappointing’ despite being an improvement on previous forecasts.

The Independent UK

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OPINION - Jeremy Hunt’s ‘not-so-bad’ economy offers little comfort

I’ve finally realised who Jeremy Hunt reminds me of – Arsène Wenger. During his later, less successful period at the club, the then-Arsenal manager would often comment after matches how his team dropped a little bit physically in the second half but showed top mental strength.

Evening Standard

Baerbock warns Europe against turning blind eye to tensions over Taiwan

Europe must not turn a blind eye to tensions between China and Taiwan because a military escalation in the region would be a "worst-case scenario" for the global economy, German Foreign Minister Annalena Baerbock said on Thursday.

Reuters

Brazil's Lula takes swipe at IMF and World Bank on China trip

Brazilian President Luiz Inacio Lula da Silva has praised the Shanghai-based New Development Bank (NDB) on his trip to China, saying it "frees emerging countries from submission to traditional financial institutions". The NDB was created by the BRICS group and is headed by his predecessor Dilma Rousseff. Meanwhile in Washington,…

France 24

US wholesale inflation pressures eased sharply last month

U.S. wholesale prices fell last month, a sign that inflationary pressures in the economy are easing more than a year after the Federal Reserve began aggressively raising interest rates

The Independent UK

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Fairtrade: study finds premium label does not always benefit workers on South African wine farms

Wine was first produced in South Africa as far back as the mid-1600s by Dutch colonisers who sold it to passing ships. The industry developed further during the colonial and apartheid eras and wine became an important part of the South African economy.

The Conversation

‘Dr. Doom’ Nouriel Roubini warns new cold war with China will 'balkanize' global economy

Fracturing global supply chains to mitigate increasing security risks will push up prices as a Cold War between the U.S. and China gets 'colder by the day'.

Fortune

OPINION - The Standard View: Jeremy Hunt’s ‘not-so-bad’ economy offers little comfort

The British economy cannot get going. Growth flatlined in February, the latest figures from the Office for National Statistics show, as a rise in construction was offset by falls in services and production.

Evening Standard

Uber Eats and Coles supermarkets to offer deliveries in Australia under new deal

Transport Workers Union praised the arrangement as a ‘powerful opportunity’ to improve workers’ conditions and entitlements

The Guardian - AU

Jordan Stuart of Federated Hermes: Tips to navigate volatility

Jordan Stuart, a client portfolio manager at global asset manager Federated Hermes, has some tips to help investors navigate the current volatility.

Fortune

S&P Futures Tick Higher Ahead of Key U.S. PPI Data

June S&P 500 futures (ESM23) are trending up +0.12% this morning after three major U.S. benchmark indices ended the regular session in the red as market participants weighed recession risk following the minutes of the Fed’s March policy meeting while also awaiting crucial U.S. PPI data.

Barchart

Commentary: Administrative fix for statelessness would help the economy

Until recently I managed eight gas stations in the Washington, D.C., area, seven days a week. I'm a classic example of this country's reliance on labor by people from elsewhere. For more than 20 years I worked 13-hour days and would cover shifts whenever somebody called in sick. Double shifts…

Tribune News Service

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France 24

EU adds Russia's Wagner mercenary group to sanctions list

The European Union on Thursday added Russia's Wagner mercenary group to its sanctions list for "actively participating in the Russian war of aggression against Ukraine" as US authorities made an arrest in connection with the leak of confidential documents. Follow our blog to see how the day's events unfolded. All…

The Guardian - UK

UK economy flatlined in February amid impact of strikes

Wave of public sector strikes and weak industrial output take toll, official figures show

Insider UK

Global economy not on the cusp of another 2008 - Bank of England governor

The UK’s economy showed no growth in February, narrowly avoiding a recession despite decades-high inflation

The Independent UK

UK’s economy flatlined in February as teachers’ strikes drag on growth

Analysts expected GDP to grow by 0.1 per cent in February

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The Guardian - UK

Strikes drag UK economic growth to a standstill; mortgage defaults rising as households struggle – as it happened

Latest GDP report shows that civil service and teachers’ strikes held back service sector growth, leading to no growth in February

The Guardian - AU

Australia’s resources minister heaps warm praise on gas as industry PR spree masks doubts about future

Madeleine King says gas can help decarbonise the economy but not even big users of the fossil fuel are convinced

The New Daily

Unemployment rate sticks at 3.5 per cent

New labour market data shows the jobless rate holding at 3.5 per cent, with 53,000 jobs added to the economy.

ABC News

Australia must navigate 'choppy waters' amid gloomy global economic outlook, says Jim Chalmers

Jim Chalmers says his budget will be built on the expectation that the economy will "slow considerably" but Australia is "better placed than most to deal with this global uncertainty".

AAP

New hydrogen pumps hundreds of billions into economy

Australia is poised to become a green energy superpower, hosting about 40 per cent of globally announced new hydrogen projects, worth up to $300 billion.

The Conversation

'Build back better' requires a framework that focuses on the full life of a house – from materials to its end of life

In the wake of Cyclone Gabrielle, New Zealand is again talking about “building back better”. But how do we build back better when we don’t necessarily understand what “better” means? Or how to achieve this across a country with significantly different risk profiles?

The New Daily

Jobless rate to stay low despite looming economic woes

Workers are still in short supply and the labour market is unlikely to reveal signs of loosening as the effects of inflation work through the economy.

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