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The Latest Breaking News from Economy

Canada may have just created the first efficient building retrofit market. The U.S. should take note

Homes and buildings account for 40% of U.S. energy consumption and at least 30% of U.S. greenhouse gas emissions–more than any other sector of the economy.

Fortune

Shamed Liz Truss hides at launch of her own new Growth Commission to 'fix economy'

The former Prime Minister, who crashed the economy in her 49-day stint in No10, insisted growth was a 'long game' as she introduced a new research institute to enact her vision

Daily Mirror

Economic gloom looks likely to sink the Tories. But Labour is taking no chances

Come the general election, the worst of Britain’s pain may be over, so Starmer’s slow and steady approach is the right one, says Guardian economics editor Larry Elliott

The Guardian - UK

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Huge £27m written off by 'embarrassing' Welsh Government flagship investment fund

The Wales Life Sciences Investment Fund pumped £50m into fledgling businesses, some of which failed to deliver on their promise

Wales Online

Welsh Government life sciences investment fund closing after £27m in write-offs

The Wales Life Sciences Investment Fund was launched in 2013 and invested £50m in new firms.

Birmingham Post

Recession Delayed to 2024, If Any: Kiplinger Economic Forecasts

Rising interest rates haven’t slowed consumer spending enough to bring the economy into a recession so far, but it could still be on the horizon.

Kiplinger

'YOLO' spenders are propping up the economy a Wharton professor believes

"Once a weakening in the economy kicks in, it could come fast."

Fortune

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India and UK to connect their space clusters: UK science minister

India, UK to connect space clusters; keen to collaborate on nuclear energy. Both countries to work together on telecoms, satellite communications, AI, and 5G. UK to invest in space clusters, pass Space Act. Talks ongoing to develop ideas for PMs to announce when Sunak visits India. India's innovation economy, scale…

The Hindu

London’s five star summer as more than 1 million attend concerts in a week

A million people attended 22 concerts in the capital in the last week – supercharging the economy to the tune of £320m

Evening Standard

Israel's judicial reform plans lead to economic uncertainty

As protests against Israeli PM Benjamin Netanyahu's revised plans to reform the courts flare up, we take a look at the impact the controversy has had so far on the country's economy. The Israeli tech sector, which represents 15 percent of GDP, is among those most opposed to the plan.…

France 24

Cancelled cruise ship costs local economy £400,000 according to Portland Port

Bosses at Dorset port said that non-arrival of Princess Cruise lines' Regal Princess had also lost berthing fees

Birmingham Post

‘My home’: The Mozambican electrician who moved to Zimbabwe twice

After fleeing war in Mozambique and then economic peril in Zimbabwe, Luciano Chataika has found a home away from home.

Al Jazeera

A million UK households face £500 rise in monthly mortgage payments; US inflation drops to 3% – as it happened

Bank of England chief says there ‘will be consequences’ of higher interest rates, as all UK banks pass stress tests

The Guardian - UK

A Bearish Investor Ponders the Bull Case for Stocks

Steve Reitmeister is by no means a permabear...but its hard for him to give up his economics background and turn away from the bearish evidence in hand. However, with the S&P 500 (SPY) up more than 20% from the October lows its time for some honest reflection of the current…

StockNews.com

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Insider UK

MSPs begin probe of public procurement reform

Economy and Fair Work Committee seeks views on how well thee 2014 changes have worked

The Independent UK

Truss’s taskforce claims average Briton £10,000 worse off than US counterpart

The Growth Commission launched on Wednesday, suggested ‘consistent growth levels’ of 3% by 2040 are achievable.

The Conversation

Turning the housing crisis around: how a circular economy can give us affordable, sustainable homes

Households across Australia are struggling with soaring energy and housing costs and a lack of housing options. Mixed with a climate crisis, economic volatility and social inequality, it’s a potent set of policy problems. Australia needs a circuit-breaker – a bold national project to tackle the climate crisis and support…

Zenger

Larry Summers Sees Need For More Tightening Despite Soft June Jobs Data

Former Treasury Secretary warns of inflation risk and suggests further interest rate hikes.

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Barchart

SRE Stock: A Smart Investment as the Market Rotates Away From Risk

With public utility Sempra Energy tied to a lucrative piece of the California economy, SRE stock represents a smart buy ahead of potential uncertainty in the market.

The National (Scotland)

Beware: The same old economic systems are masquerading as new frameworks

Do you know your circular economy from your just transition? How about your green growth from your degrowth? Over the summer, SCOTONOMICS will…

The Independent UK

Scottish Green ministers accused of hypocrisy over use of chauffeur-driven cars

Labour peer Lord Foulkes of Cumnock has accused Patrick Harvie and Lorna Slater of being hypocrites.

Zenger

Jobless Claims Climb, Part-time Employment Surges In US

US Unemployment Claims Rise to 248,000, Part-time Workers Increase to 5.4 Million in June.

Glasgow Live

Petition launched for First Glasgow to make U-turn on scrapping 'crucial' night bus services

First Glasgow announced this week that 11 routes will be scrapped which has left Glaswegians and the council 'very concerned', with a petition to save the night services now launched.

The Independent UK

Why are wages rising and what does it mean for the economy?

Average pay was 7.3% higher in the three months to May compared with the same period last year

Axios

Chart: Why homeowners weren't crushed by the Fed's rate-hiking campaign

It's one reason the U.S. economy has so far proved resilient amid rapid interest rate hikes.

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