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The Latest Breaking News from Economy

Government hikes interest rates on some small savings schemes by up to 30 bps in Q3

NEW DELHI: The government on Thursday raised rates on some small savings schemes by up to 30 basis points (bps) in line with the hardening interest rate in the economy.

The Times of India

US economy drops at 0.6% annual rate from April through June

Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate

The Independent UK

Fewer people seek US unemployment aid amid solid hiring

The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy

The Independent UK

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Liz Truss defends mini-Budget as the ‘right plan’

Prime Minister Liz Truss has defended her Chancellor’s mini-Budget as the “right plan” as she began a series of regional interviews on Thursday morning. After the pound plummeted following Kwasi Kwarteng’s intervention last week, the prime minister was attempting to restore confidence in the market as she takes on 24…

Evening Standard

Butter, garage doors and SUVs: Why shortages remain common 2½ years into the pandemic

Shortages of basic goods still plague the U.S. economy – 2½ years after the pandemic’s onset turned global supply chains upside down.

The Conversation

Opinion: With mortgage rates and the economy it’s better to plan and calculate than take a risk

"Many of the inflationary pressures are temporary and have a cause, which can be remedied with the right appetite"

Birmingham Post

What is happening to the economy explained - from mortgages to pensions

Chancellor Kwasi Kwarteng's mini-Budget kick-started a chaotic chain of events that are now affecting everything from mortgages to pensions, with many homeloans pulled from the market and deals cancelled

Daily Mirror

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India will be pillar of global economic revival: Piyush Goyal

All sectors such as agriculture, manufacturing and construction are doing quite well, Piyush Goyal claimed

The Hindu

2 Earnings Winners to Scoop Up During the Bear Market

The bear market has been brutal. Given the trend in inflation and weakening economy, it's unlikely to end soon. For investors, the best strategy is to use the adverse market conditions to scoop up stocks that have a long-term history of compounding earnings. Therefore, investors should consider buying Builders FirstSource…

StockNews.com

What Liz Truss said to every BBC radio station during car crash round of interviews

The Prime Minister attempted to address concerns surrounding her mini budget in the House of Commons last week.

Daily Record

Financial markets are a mess around the world. Fingers are pointing at the Fed

Customarily, the Fed and other central banks do as much as they can to keep markets calm. This time they're the reason behind the volatility.

WEKU

Liz Truss called out by Bristol radio presenter for giving 'scripted answers'

The Prime Minister hasn't been in the media since the government announced a series of tax cuts in its 'mini budget' on Friday

Bristol Post

Next Plc suggests Government stimulate economy by cutting projects like HS2 and relaxing migration rules

‘Success through adversity will not depend on our ability to foresee the future…. It will depend on how well we adapt’

Birmingham Post

Liz Truss says she slept well as markets panicked over the Tory mini-budget

PRIME Minister Liz Truss has said she slept well while the UK economy faced turmoil sparked by her government’s mini budget.

The National (Scotland)

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Birmingham Post

Liz Truss defends mini-budget and economic plans despite market turmoil and Bank of England intervention

'I don't accept the premise of the question' - embattled PM gets tough questions as she does BBC local radio interviews

The Guardian - UK

Truss says she has ‘right plan’ on economy and will not change course

In series of local BBC interviews, prime minister says she is prepared to make difficult decisions

The Hindu

Data | Will the roll out of AC III tier economy class bring loss-making Railways back on track?

AC III tier was the only class that made consistent profits in the FY13-FY20 period, while all the other classes except AC chair car posted losses

Wales Online

Liz Truss breaks silence on mini-budget and economic turmoil

"We had to take urgent action to get our economy growing"

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The Independent UK

UK's Truss defends economic plan that sent pound tumbling

British Prime Minister Liz Truss has defended her economic plan and says she’s willing to make “difficult decisions” to get the economy growing

Bristol Post

Liz Truss defends 'controversial and difficult decisions' in first public interview since mini-budget announcement

The PM is touring local BBC radio stations this morning - including Bristol

Insider UK

Decline in service sector blamed as Scotland’s GDP falls by 0.2% in July

Deputy First Minister confirms plan to outline Scottish Government economic response in an emergency budget review next month

Daily Record

Truss and Kwarteng take just five days to show Tories can't be trusted with our money

Record View says the Chancellor should be sacked immediately if the economy is to survive another pummelling after he gambled with all our futures.

Bristol Post

Bristol film and TV shows including The Outlaws generate millions of pounds for city

It is the largest contribution that filming-related activity has made towards Bristol’s economy in a decade

Bangkok Post

Chaiwut oversteps

Digital Economy and Society (DES) Minister Chaiwut Thanakamanusorn is in hot water for his unbecoming remarks against anti-government protesters who plan to rally tomorrow, the day the Constitutional Court hands down a ruling on the fate of suspended Prime Minister Prayut Chan-o-cha after a petition by the opposition bloc.

France 24

UK market mayhem sparks 'unprecedented' bond-buying from Bank of England

The Bank of England has launched a £65 billion emergency bond-buying programme, in an effort to calm the markets and avert a financial crisis. The "unprecedented" support comes amid mounting criticism of the government's plan to slash taxes. Also in the show: Beata Javorcik, Chief Economist at the European Bank…

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