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The Latest Breaking News from Economy

Australia's economy grew strongly earlier this year, but at risk of a 'cliff-like slowing'

Australia's economy grew strongly in the three months to June, but it was business owners who benefited more than workers.

ABC News

US says Russia seeking ‘millions of rounds’ from North Korea

Russia wants to buy millions of rockets and artillery shells from North Korea to use in its war against Ukraine, a sign that Western sanctions on its military and economy are starting to bite, U.S. officials said Tuesday.

Tribune News Service

How the latest RBA interest rate rise will impact WA, the most mortgaged state in Australia

Data shows WA is the most mortgaged state in the country and has the largest gap between wage growth and inflation, but comparatively low house prices continue to shield sandgropers from further pain as interest rates rise yet again.

ABC News

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A Texas slowdown? More firms report falling sales, decline in new orders

The Texas economy slowed last month with fewer service companies reporting increases in revenue and more manufacturers reporting declines in new orders, according to surveys by the Federal Reserve Bank of Dallas.

Tribune News Service

The Odds of Recession & Bear Market

How do you feel about the stock market (SPY) when I tell you that 45% of economists see a recession forming in the next 12 months? And now how does your outlook change when I tell you that the average recession and bear market has formed when only 40% of…

StockNews.com

Kwasi Kwarteng: Long-term Liz Truss ally to hold nation’s purse strings

The new Chancellor inherits an economy forecasted to plunge into a prolonged recession as inflation soars to eye-watering levels

Evening Standard

Liz Truss promises to fix energy crisis and grow UK economy in first speech as UK PM

LONDON: Liz Truss made her first speech as UK prime minister on Tuesday outside No 10 — in front of a cheering but drenched group of Conservative MPs and the world's media — following a sudden downpour after she had been appointed to the position by the Queen at Balmoral…

The Times of India

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Long winter ahead: PM Liz Truss faces energy crisis on day one

It's day one on the job for Britain's new prime minister and as Russia squeezes natural gas exports, Liz Truss faces a wartime economy. How to keep the lights on across the Channel? How to rein in inflation? As Europeans work to pool their energy purchases, tax windfall profits and…

France 24

GDP lifts 0.9pct in June quarter

Real GDP increased by 0.9 per cent for the June quarter and was 3.6 per cent higher over the year to June.

AAP

Economists predict slowdown for Australian economy as interest rates continue to rise

Soaring commodity exports and positive agricultural forecast expected to be balanced by Reserve Bank’s moves to counter inflation

The Guardian - AU

Liz Truss vows to ‘ride out the storm’ in first speech as PM

Speaking outside No 10, Truss promises to rebuild economy and turn UK into an ‘aspiration nation’

The Guardian - UK

Liz Truss’s first speech as prime minister in full

Liz Truss said her leadership would focus on three priorities - the economy, energy crisis and NHS

The Independent UK

Liz Truss' first speech as Prime Minister in full - vow to 'rebuild' after 12 Tory years

Tory Liz Truss delivered a brief 516-word speech on the steps of Downing Street, vowing to "ride out the storm" of energy bills with action this week - and "rebuild the economy" after 12 years of Tory rule

Daily Mirror

New Prime Minister Liz Truss promises action on energy bills this week

She also promised action on the economy

Nottingham Post

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The Independent UK

Liz Truss says Britain can ‘ride out the storm’ in first speech as PM

New prime minister sticks to guns on tax cuts despite fears they will fuel inflation

The Conversation

Cost of living: why Liz Truss' low-tax strategy won't work

One of the first things the new UK prime minister Liz Truss did upon winning the Conservative party leadership race was to reiterate her desire to turn the UK into a low-tax economy.

Reuters

Ukraine's Zelenskiy 'rings' NYSE bell, seeks $400 billion in foreign investment

Ukraine's President Volodymyr Zelenskiy remotely rang the opening bell at the New York Stock Exchange on Tuesday as his nation appealed for billions of dollars in private investment to rebuild factories and industries destroyed by Russia.

The New Daily

Decades of industry super profits rebut the spurious claims by vested interests

To listen to some commentators, you would think superannuation was about politics rather than retirement. What is clear after 30 years of compulsory super

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news in one place.

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Asharq Al-Awsat

Saudi Non-oil Economy Reaches Highest Level since October 2021

Saudi Arabia’s non-oil economic growth reached a 10-month high in August, according to the latest Purchasing Managers Index (PMI) data from S&P Global. The Kingdom’s PMI climbed to 57.7 in August, up from 56.3 in July and the highest since October 2021.

The Hindu

India's climate actions exceed its moral and legal responsibility: Bhupender Yadav

The Minister said India's sheer size and scope for growth is an indication that its energy demand will also grow faster than any other economy.

Evening Standard

Major warning on economy as gilt yield curve turns upside down

UK government debt market sends ominous and closely-watched warning on darkening economic outlook

Daily Mirror

11 crisis issues in Liz Truss's bulging in-tray now she will be Prime Minister

The new Prime Minister inherits an economy that is juddering towards recession, a hike in energy bills and businesses on the brink of bankruptcy, writes Assistant Editor Jason Beattie

The Guardian - US

Democrats look to prove economic credentials in battle for midterms

Party aims to reframe narrative that Republicans are natural custodians of economy and alleviate voters’ inflation concerns

Asharq Al-Awsat

Saudi Arabia Pumps $80 Bn to Develop Local Content

The estimated value of government competitions that meet the requirements of local content and localization amounted to $80 billion since the launch of legislation until the first half of 2022, announced Minister of Industry and Mineral Resources Bandar Ibrahim AlKhorayef. He said that developing local content requires integrated work and…

The Guardian - UK

Patrick Minford: maverick economist who inspired Truss and Thatcher

Brexiter tells Guardian that new PM understands need for tax cuts and orthodoxy must be challenged to revitalise economy

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