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The Latest Breaking News from Economy

Argentina: Markets cheer new minister, but for how long?

Financial markets are celebrating the arrival of Sergio Massa as Argentina’s third economy minister in less than a month, but analysts caution that more details are needed about his plans to get the South American country out of itsdire economic straits

The Independent UK

Top economic takeaways as US wrangles with recession fears

Back-to-back GDP slowdown, Fed raises rates, higher prices and other economic highlights from a busy week.

Al Jazeera

Kemp assails national economy while touting Georgia record

Georgia Gov. Brian Kemp is taking aim at what he calls the “Biden recession” and spreading blame to Democrat Stacey Abrams while at the same time arguing his own state's economy is good

The Independent UK

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Mexico's economy grows by 1% in 2nd quarter

Mexico’s economy grew by 1% in the second quarter

The Independent UK

Tharoor urges Centre to restore crew changes at Vizhinjam

Seaport stimulates local economy through additional jobs, says a representation of chamber of commerce

The Hindu

Why is it so hard to say if this is a recession?

Economists were on high alert Thursday morning awaiting data from the U.S. Commerce Department that might shed light on whether the country is in a recession — a question with vast implications for consumers, employers and electoral politics.

Los Angeles Times

The Week Ahead: Listening for what people, not companies, say about jobs

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

Miami Herald

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New York City Mayor Eric Adams contradicts Biden’s optimism about economy: ‘We are in a recession’

President Joe Biden denied the US was in a recession on Thursday after the economy shrank for a second quarter in a row

The Independent UK

Invest NI appoints seven new board members as CEO hunt continues

The new board members will be paid £12,768 a year

Birmingham Post

Counterfeiting, smuggling threat to India’s economy: KPA Director

MYSURU

The Hindu

Action on climate change is action on the cost of living

Making the transition to a zero-emissions economy can save Australians cash on their power bills, at the petrol pump, and in the supermarket.

The New Daily

Recession or not, the stock market is doing fine

The stock market keeps chugging higher despite growing evidence that the economy is in deepening trouble.

Axios

Eurozone inflation hits record 8.9% despite better-than-expected growth

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices fueled by Russia's war in Ukraine, but the economy still managed better-than-expected, if meager, growth in the second quarter.

France 24

Inflation Hits Record 8.9% in 19 Countries Using the Euro

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia's war in Ukraine, but the economy still managed some meager growth. Annual inflation in the eurozone’s 19 countries rose to 8.9% in July, an increase…

Asharq Al-Awsat

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WEKU

China backs away from growth goal, sticks to virus controls

China's leaders effectively acknowledged the struggling economy won't hit its official 5.5% growth target this year and said Thursday they will try to prop up sagging consumer demand.

The Independent UK

Asian shares mixed on US rally, China economic growth woes

Asian shares are mixed as Chinese shares sank after leaders acknowledged the official 5.5% growth target for this year won’t be met

The Independent UK

Economy eclipses other issues in UK Conservative contest

Britain’s next prime minister will take office amid turmoil: galloping inflation, a war in Ukraine, souring relations with China and a changing climate

The Guardian - UK

ExxonMobil and Chevron shatter profit records; eurozone inflation hits record 8.9% – business live

US oil companies post huge earnings, as sky-high fuel costs hit consumers and drive up inflation

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Los Angeles Times

Here’s why the US economy shrinking in the 2nd quarter may not be so bad

WASHINGTON — In the most aggressive back-to-back interest rate increases since the early 1980s economic crisis, the Federal Reserve on Wednesday announced another hike of three-quarters of a percentage point and signaled more to come in its effort to beat back inflation despite the risk of a recession.

Reuters

Argentina's Fernandez bets on 'superministry' to stop economic bleeding

Argentine President Alberto Fernandez launched his latest effort to tackle an economy in crisis on Thursday, tapping one of the ruling coalition's most powerful figures to lead a new "superministry" on the same day the central bank hiked interest rates to 60%.

The Times of India

US recession fears deepen as economy contracts for 2nd straight quarter: What about India?

NEW DELHI: World biggest economy contracted for the second quarter in a row on Thursday, triggering fears of recession.

Reason

After 2 Consecutive Quarters of Negative Economic Growth, Is America in a Recession?

Most Americans believe so.

The Independent UK

China backs away from growth goal, sticks to virus controls

China’s leaders have effectively acknowledged the struggling economy won’t hit its official 5.5% growth target this year

Benzinga

A Historical Analysis of Commodity Cycles from the 1970s to 2020s

The global economy periodically experiences steep movements in commodity prices, causing cyclic booms and busts. These are called commodity cycles, a complex process emerging from macroeconomic shocks, supply chain bottlenecks, and policy failures.

Evening Standard

America tips into unofficial recession as global markets hold breath

Second successive drop as growth retreats 0.9% in the three months to June

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