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The Latest Breaking News from Economy

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

Insider UK

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.

Daily Record

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

Bristol Post

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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.

Bangkok Post

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…

France 24

Treasury minister says ‘we’ll press ahead with tax cuts’ as Tory backlash grows amid market turmoil

Cabinet ministers ‘to be told to make efficiency savings’ amid growing Tory backlash over mini-Budget chaos

Evening Standard

Want To Beat Stagflation? Invest Like It's the 1970s

If you're looking to beat sticky inflation and slowing growth in your portfolio, consider using the past as a guide for navigating today's mixed-up economy.

Kiplinger

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US: Fuel Economy Of Seventeen 2022 BEV Models Exceeds 100 MPGe

Energy efficiency of electric cars tramples internal combustion engine cars and according to the latest data, there are more ultra-efficient BEVs than ever.

InsideEVs

Indy campaigners demand SNP hold their nerve on 'fairer' Scottish taxes in protest

PROTESTERS gathered outside Holyrood as chaos engulfed the UK economy following the announcement of its reckless tax-slashing plans to demand the…

The National (Scotland)

Newcastle Building Society pulls all its mortgage deals after UK economy plunged into turmoil

Mortgage deals have been withdrawn at a record rate, while a North East business chief has warned it is 'increasingly difficult' for financial markets to regain trust in the UK economy

Chronicle Live

Economic storm tests UK's new leader, alarms Conservatives

Britain’s new Prime Minister Liz Truss is under pressure to reverse announced tax cuts that have triggered a financial crisis in an already struggling economy

The Independent UK

Labour parties like it’s 1997 as Tories descend further into chaos

If the IMF intervention wasn’t bad enough for Liz and Kwasi, Keir’s morning round of interviews turned into a victory lap

The Guardian - UK

Keir Starmer calls for emergency Parliament recoil amid turmoil in UK financial markets

‘What the Government needs to do now is recall Parliament and abandon this budget’

Evening Standard

Is the UK economy already in recession?

THE Bank of England has been forced to step in following the collapse in the value of the pound after Chancellor Kwasi Kwarteng’s “mini…

The National (Scotland)

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Irish Mirror

Ryanair boss Michael O'Leary calls UK tax plans 'nuts'

'I think they could bankrupt the UK economy in the next two years'

Irish Mirror

Michael O'Leary warns Government over 'unfair' environmental taxes on airlines

'What’s going on at the moment is fundamentally unfair and wrong. It’s very damaging'

The Guardian - UK

Truss accused of hiding from budget chaos as No 10 resists recall of MPs

Opposition leaders urge PM and chancellor to take action over economic fallout and recall parliament

Daily Mirror

Labour's plans for the economy explained as turmoil engulfs UK - and hits you

Labour has sought to cast itself as the party of 'sound money' as alarm mounts over the Chancellor's explosive mini-Budget

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Daily Record

'Where is Liz Truss?' Opponents demand answers and recall of parliament to deal with financial crisis

Labour and the SNP called on the Westminster government to face the Commons and the markets as the Bank of England intervened with reserves to keep the UK economy stable.

Benzinga

China's 'Rapid' Debt Buildup May Portend A Looming Financial Crisis: New York Fed

China’s recent debt buildup following the Covid-19 pandemic has researchers from the Federal Reserve Bank of New York wondering if the country can avoid a financial crisis in the years to come.

Evening Standard

The Standard View: Sterling crisis leaves no easy options for Kwasi Kwarteng

The fallout from Kwasi Kwarteng’s “mini-budget” is far from over. The International Monetary Fund has criticised the “untargeted fiscal packages” and suggested the Chancellor had an opportunity in November to “re-evaluate the tax measures”. This is highly unusual language, particularly directed at a major economy such as the UK.

Birmingham Post

Bank of England launches urgent bond-buying programme to avoid 'material risk' to UK economy

'The Bank of England stands ready to restore market functioning and reduce any risks from contagion'

Reuters

Israel-South Korea free trade deal to take effect Dec. 1

A free trade agreement between Israel and South Korea will go into effect on Dec. 1, Israel's Economy Ministry said on Wednesday, in a move expected to lower the prices of Korean-made cars, toys, video game consoles and soy sauce.

The Independent UK

Ryanair boss Michael O’Leary describes UK tax plans as ‘nuts’

The airline chief said the move could potentially bankrupt the UK economy in the coming years.

The National (Scotland)

'They have to go': Tory MPs round on Liz Truss as UK economy plunges into crisis

LIZ Truss’s days as Prime Minister could be numbered less than a month after she entered No 10 – with a rebellion brewing among Tory MPs as the…

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Chaiwut Thanakamanusorn

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