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The Latest Breaking News from Economy

AVIXA Report: June Sales Growth Steady, Payroll Growth Stronger

Pro AV is settling into a level of modest growth, despite a weak European economy.

AVNetwork

Europe's central bank is set to pile on another rate increase. Is it the last in a record series?

The European Central Bank is set to raise interest rates again Thursday

The Independent UK

US economy likely slowed in April-June quarter but still showed its resilience

The most aggressive streak of Federal Reserve interest rate hikes in 40 years has slowed the U.S. economy

The Independent UK

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Alphabet's revenue growth finally outpaced spending

Google's parent company did something different in Q2, as revenue growth outpaced spending. With an AI arms race and an uncertain economy though, it's not clear if the company can do it again.

Fortune

Cancel the recession, Fed staff says. Whether the central bank’s governors agree is another matter.

"The staff now has a noticeable slowdown in growth starting later this year in the forecast. But given the resilience of the economy recently, they are no longer forecasting a recession," Jerome Powell said.

Fortune

Is the US interest rate tightening cycle finally over?

Even as US Fed raised its interest rates again on Wednesday, analysts are split if there will be another hike this year.

Al Jazeera

Fed Resumes Interest Rate Hikes: What the Experts Are Saying

A hawkish Federal Reserve dashes hopes for a definitive end to rate hikes soon.

Kiplinger

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Congressional Budget Office predicts slower economic growth and 4.7% unemployment into 2024

The Congressional Budget Office reports that economic and job growth so far this year has been stronger than forecast in February, but an updated outlook sees parts of the economy as weakening through 2024

The Independent UK

Shedding more light on the debt dilemma

Even when the sustainability of debt may not be threatened in the medium term, the costs of carrying high deficits and debt to the economy are heavy

The Hindu

Jerusalem Unicorn Lightricks, invents Facetune App; Using AI To Edit And Erase Objects From Photos

AI revolutionizing image and video editing apps, opening up opportunities in the creator economy

Zenger

The Fed's hot pause summer gets an ice bath: Interest rates rise again

After taking a pause last month, the Fed got back to raising interest rates. Many are now saying a "soft-landing" is within our sights

WEKU

Fed raises interest rates to 22-year high as it continues to fight inflation

US economy remains robust despite the 11 rate rises the Fed has implemented – its most aggressive rate-rising cycle in 40 years

The Guardian - US

Kwarteng went ahead with mini-budget despite OBR warning, FOI reveals

Chancellor’s refusal to publish forecast contributed to stock market jitters and run on pound

The Guardian - UK

4 Reasons to be Bullish on Alibaba Stock

Alibaba has been underperforming the markets since late 2020, but the stock looks attractive at these levels as China vows to support the country's economy, as well as the tech sector.

Barchart

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The Conversation

Eskom and South Africa's energy crisis: De Ruyter book strikes a chord but falls flat on economic fixes

The former chief executive of South Africa’s power utility, Eskom, has written a scathing critique of the ruling party’s practices that have seriously damaged the country’s economy.

The Independent UK

Car buyers bear a heavy burden as Federal Reserve keeps raising rates: Auto-loan rejections are up

The Federal Reserve’s expected move Wednesday to raise interest rates for the 11th time could once again send ripple effects across the economy

Dynamite News

On India visit, US climate envoy John Kerry visits Parliament

New Delhi: United States Special Presidential Envoy for Climate John Kerry, who is a five-day India tour visited the Parliament on Wednesday. Kerry, who is leading a US delegation during his visit, today met with Union Finance Minister Nirmala Sitharaman in her office inside the Parliament building. Read further on…

The National (Scotland)

'More blue than red': Scottish caller challenges Keir Starmer live on BBC

A SCOTTISH caller told Keir Starmer that “Labour is becoming more blue than red” as he challenged the prospective prime minister over his…

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France 24

US parcel shipping giant UPS and union reach agreement, averting strike

US parcel shipping company UPS and the International Brotherhood of Teamsters union have agreed on a deal to renew a five-year labour contract. Although the deal still has to be ratified by union members next month, it will avert a strike that could have started as early as next week.…

Evening Standard

London bosses ramp up calls for Jeremy Hunt to axe ‘tourist tax’ making Paris, Madrid and Milan ‘winners’

Dispute rolls on over the cost and benefits of restoring tax-free shopping for international visitors

The Independent UK

Wagner gold smuggling critical to keeping Russia’s economy afloat, MPs say

Parliamentary report also criticises the ‘remarkably complacent’ attitude of the government to Wagner’s activities across the last decade

The Hindu

Morning Digest | Indian economy to grow at 6.1% in 2023, IMF projects; Opposition for no-trust vote against Narendra Modi government, and more

Read a daily selection of top stories from across India and the world by The Hindu to start your day.

Barchart

Where are Home Prices Headed for the Remainder of 2023 and Beyond?

After peaking during the pandemic, housing sales have slowed but prices remain elevated. Where is the housing market headed?

Zenger

Moody’s Maintains Israel’s Rating Amid Judicial Reform Concerns

Morgan Stanley Downgrades Creditworthiness, Netanyahu remains optimistic about the economy

The Independent UK

Israel's government has passed the first part of its legal overhaul. The law's ripples are dramatic

The Israeli government has passed the first major piece of legislation in Prime Minister Benjamin Netanyahu’s plan to overhaul the country’s legal system

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