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The Latest Breaking News from Economy

Iran and US to resume talks in new bid to save nuclear deal

Diplomats from the U.S., Europe and Iran are set to return to Vienna after months of deadlock for another attempt to save their moribund nuclear deal, as high energy prices continue to stalk the global economy.

Tribune News Service

The Guardian view on the economy: a mess the Bank is making worse

Editorial: A hike in interest rates does nothing to stifle inflationary pressures and adds to the pain for firms and households

The Guardian - UK

Javid accuses Sunak of sleepwalking into a high-tax economy as he endorses Truss

Former chancellor warns “tax cuts now are essential”

The Independent UK

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Australia’s economy is set to grow slower than it ever has outside of recession. This is bad news for our standard of living

The economic growth forecasts are truly dire and point to rising unemployment and falling wages growth

The Guardian - AU

Sajid Javid endorses Liz Truss in fresh blow to Rishi Sunak’s campaign

Conservative MP says Truss is best placed to ‘reunite the party’ and new approach on economy is needed

The Guardian - UK

Sajid Javid backs Liz Truss while making 'sleepwalking' jibe about Rishi Sunak

Mr Javid, who had kept his cards close to his chest, warned that Rishi Sunak's policies would lead Britain “sleepwalking into a high-tax, low-growth” economy

Daily Mirror

Ukraine's wedding dress industry is alive and well, despite the war

The town of Chernivtsi, once the wedding dress capital of the Soviet Union, is still churning out dresses — for the West. "We are staying in Ukraine," says a dressmaker. "We will build our economy."

WEKU

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Second bid for levelling up cash to support Tyne offshore and subsea sectors

Newcastle City Council wants the money for projects it says are key to safeguarding the future of the burgeoning sector

Birmingham Post

Sluggish growth since Tories came to power leaves average Brit £4,000 worse off

Labour accuses government of running ‘low-growth economy’ compared to neighbours

The Independent UK

Why Isn't The US Officially In A Recession?

The US has technically entered a recession in the second quarter 2022 as the economy contracted 0.9% year over year, following a 1.6% decline in the first quarter.

Benzinga

UK inflation could reach 15% by start of 2023, experts say

Resolution Foundation says Bank of England likely to forecast higher and later peak, on eve of interest rates decision

The Guardian - UK

What is a recession? Economic term and what happens during one explained

A chilling warning about the state of the economy - and how it affect vulnerable households - has been issued.

Daily Record

Pelosi’s Taiwan trip could have significant consequences for global economy

Rising tensions between US and China threaten to accelerate decoupling of world’s two biggest economies

The Guardian - UK

Rising cost-of-living pushes consumer confidence to all-time low

Confidence in the state of the economy fell to -85%, similar to levels last seen in summer 2020

Insider UK

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Asharq Al-Awsat

‘We Have Nothing’: Iraqi Protesters Voice Anger, Hope

Thousands of Iraqi protesters have occupied the parliament in Baghdad's Green Zone for the past five days, the latest political turmoil to strike the war-scarred country. The mass sit-in is led by followers of powerful Shiite Muslim preacher Moqtada Sadr, who is facing off against a rival, Iran-backed Shiite faction…

The Independent UK

Liz Truss: Who is the foreign secretary hoping to become prime minister?

Social media savvy ‘human hand grenade’ seen as continuity candidate and currently ahead of Rishi Sunak thanks to questionable tax promises and neo-Thatcherite branding

WEKU

In Sri Lanka, inflation means food shortages, blackouts — and days-long lines for gas

Sri Lanka offers a cautionary tale for countries struggling with inflation. Anger over fuel lines spilled into the streets and toppled a government. Will nationalism surge, or unity prevail?

Bangkok Post

Joint business group sticks by GDP outlook despite inflation risk

The Thai economy is still expected to grow 2.75% to 3.5% this year, helped by increased exports, more tourists, and government support, but faces rising inflationary pressures, a leading joint business group said on Wednesday.

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Tribune News Service

Commentary: As Americans reel from stagflation, Manchin pitches tax hikes

Stagflation is here. Inflation notched a fresh 40-year high of 9.1 percent in June, and the economy shrank in the first and second quarters of the year.

The Independent UK

Sri Lanka leader proposes 25-year plan for crisis-hit nation

Sri Lanka’s new president says his government is preparing a national policy roadmap for the next 25 years that aims to cut public debt and turn the country into a competitive export economy as it seeks a way out of its worst economic disaster

The Guardian - UK

Opec+ agrees small oil output rise in rebuff to Biden; UK inflation ‘could hit 15%’ – as it happened

Oil producers will lift oil production by 100,000 barrels per day in September, a much smaller rise than in recent months

Daily Mirror

Millions of Brits to be hit by 'recession with poorest areas affected most'

The UK is set to head into recession according to the National Institute of Economic and Social Research which also predicts that it will be the poorest areas that will be worst affected

The Hindu

Holistic approach to education needed: Kerala CM tells institutions

Pinarayi inaugurates Connect Career to Campus campaign of the Kerala Knowledge Economy Mission

Miami Herald

What people and what companies say about employment mean different things

Would you believe the U.S. economy lost 315,000 jobs in June? And that it gained 372,000 jobs the same month?

Wales Online

Stagflation 'nightmare' as recession warning issued to millions of UK households

Millions of the most vulnerable households will be hit, warns economic report

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