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The Latest Breaking News from Economy

Inside the booming Taylor Swift economy

Swifties are spending big on travel, lodging, makeup, fashion and food to attend the shows.

Axios

Turkey's president has built vast power over 20 years. But he may lose on Sunday

A struggling economy and slow earthquake response add up to a tough election for President Recep Tayyip Erdogan, who has dominated Turkish politics for the past 20 years.

WEKU

Societal cost of ‘forever chemicals’ about $17.5tn across global economy – report

Chemicals yield profit of about $4bn a year for the world’s biggest PFAS manufacturers, Sweden-based NGO found

The Guardian - US

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Too early to sound the all-clear as impact of UK rate rises yet to be felt

There are some signs that headwinds are easing but economy still looks fragile

The Guardian - UK

UK economy shrank unexpectedly in March but grows slightly in first quarter

UK gross domestic product increased by 0.1% in first quarter, but it came after a 0.3% decrease in March

The Independent UK

UK economy grows slightly in first quarter but slumps unexpectedly in March

THE UK economy marginally grew over the first quarter of the year, according to official data, despite an unexpected slump in March.

The National (Scotland)

Stock market today: Asian shares mostly lower on looming worry over US banks, China growth

Asian shares are trading mostly lower on looming worries over U.S. banks and lagging demand from China, the region’s major driver of growth

The Independent UK

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UK’s growth last of G7 after economy shrinks by 0.3% in March

But there was 0.1% growth in first quarter overall thanks to a stronger January, ONS says

The Guardian - UK

UK economy stuck in first gear as GDP plunges in March

Bad weather and strikes blamed for forcing down high street sales

Evening Standard

US Economy On The Edges As Banks Continue To Fail And The Fed Raising Interest Rates

The S&P 500 logged a weekly gain following the release of encouraging inflation data and a weaker-than-expected first-quarter.

Zenger

G7 finance chiefs debate reducing supply chain reliance on China

Finance leaders of the Group of Seven (G7) advanced economies discussed the need to make global supply chains more resilient by reducing over-reliance on China, German Finance Minister Christian Lindner said on Friday.

Reuters

UK ‘bottom of G7 growth league table’; Royal Mail CEO stepping down – as it happened

UK’s recovery since pandemic has lagged other G7 nations, despite expanding by 0.1% in first quarter of 2023

The Guardian - UK

Pakistan’s reeling economy takes new hit from protests

Firms and gig workers see losses piling up amid internet shutdowns in big cities.

Al Jazeera

Uptick in consumer confidence persists

Consumer confidence in April rose for an 11th straight month, reaching the highest level in 38 months, helped by a reduction in Covid-19 infections, the recovery of domestic tourism and lively election campaigns nationwide.

Bangkok Post

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Fortune

Wharton’s Jeremy Siegel says stocks could jump 15% or more this year—but only if the Fed cuts rates

"If the Fed does not cut, then it's going to be tougher sledding for the markets," the finance professor warned.

Barchart

Stock Buybacks Remain Strong for Mega-Cap Tech Companies

As concern about a weakening economy increase, most S&P 500 ($SPX ) (SPY ) companies are cutting their spending on their stock buyback programs. However, mega-cap technology stocks are bucking that trend and are maintaining most of their buybacks. The strong cash flows of the mega-cap tech companies are allowing...

Al Jazeera

Turkey’s elections: What are the key alliances promising?

Economy, housing, refugees, foreign policy. What have Turkey’s alliances promised ahead of the upcoming elections?

The Times of India

Dr S Jaishankar launches Amitabh Kant's new book 'Made In India'

The G20 Sherpa of India, Amitabh Kant's new book 'Made In India' was launched by Dr S Jaishankar- Minister of External Affairs of the Government of India, along with Sanjiv Bajaj- President CII SMD at Bajaj FinServ, Mallika Srinivasan- Chairman PSEB CMD at TAFE, TV Narendran- CEO MD at Tata…

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The Conversation

Bank of England interest rate rise: why this could be the last increase for a while

The Bank of England has increased its benchmark interest rate to 4.5% – the seventh rise since May 2022, when the base rate was just 1%. It is now at the highest level since 2008.

Glasgow Live

Glasgow council leader says small businesses are 'lifeblood of our economy'

Cllr Susan Aitken admits smaller businesses have been faced with 'challenging' times with Brexit, the pandemic and cost of living crisis but re-iterated the council is on hand to support them.

Insider UK

Bank of England lifts interest rates again as food prices stay higher for longer

Central bank economists also released a record upgrade to their economic growth expectations

The National (Scotland)

'Tory mortgage crisis hits millions' as interest rates hiked to 15-year high

THE Bank of England has raised interest rates for the 12th time in a row to its highest level since 2008 ...

Birmingham Post

North Wales ideal for new generation of small nuclear reactors creating hundreds of new jobs

Cwmni Egino said small modular reactors at the former nuclear power plant could provide a £1.3bn long-term boost to the Welsh economy

Daily Mirror

Parents fly first class but always put kids in economy to 'teach them a lesson'

TikToker Samuel Leeds decided that he would ride in first class with his wife, while his young children settled into their seats in economy in a money saving move that has proved controversial

The Guardian - UK

Labour and Lib Dems can win big by calling out the Brexit mess

We must never stop speaking up on the damage it is doing to Britain’s economy, society, culture and standing in the world, says Alastair Campbell, author of But What Can I Do?

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