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The Latest Breaking News from Economy

At a glance: Key points from Kwasi Kwarteng’s statement on the economy

The Government wants a new approach to growth, Mr Kwarteng said, with the aim, over the medium term, to reach a trend rate of growth of 2.5%.

The Independent UK

Pound plummets to 37-year low as Kwarteng unveils ‘growth plan’ for UK economy

Former Bank of England policy maker cautions government’s economic plan will “end in tears”

The Independent UK

Chancellor axes top income tax rate for highest earners

The 'mini-budget' also confirmed a cut to stamp duty and the axing of caps on bankers' bonuses

Insider UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Mini Budget 2022: How Kwasi Kwarteng's huge tax cuts will affect Scots as rich set to benefit

The Chancellor of the Exchequer announced huge tax cuts that will benefit the richest in society.

Daily Record

FedEx is facing a big downturn. It may give us a vital clue about the economy

A surprise warning from FedEx has shocked Wall Street and worried some about the direction of the economy.

WEKU

Limiting workdays could rearrange life and our economy

Do you ever get the feeling there is something fundamentally wrong with how we live?

Tribune News Service

Bhutan welcomes first tourists in 2 years

KATHMANDU: Twenty-three foreign visitors landed in Bhutan on Friday, the first to arrive as the Himalayan kingdom reopened its borders after more than two years following the Covid-19 pandemic, with officials looking to tourism to help revive the local economy.

Bangkok Post

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Bhutan welcomes back tourists after COVID-19 with honey, turmeric and SIM cards

Twenty-three foreign visitors landed in Bhutan on Friday, the first to arrive as the Himalayan kingdom reopened its borders after more than two years following the COVID-19 pandemic, with officials looking to tourism to help revive the local economy.

Reuters

Minister denies markets fear ‘gamble’ of tax-slashing mini-budget as borrowing costs leap

‘What the markets want to know is whether the UK economy is going to grow’, Simon Clarke insists – as he rejects claims of ‘trickle-down economics’

The Independent UK

Pound plunges through $1.09 as former US Treasury secretary blasts ‘naive’ UK policies in mini-budget– as it happened

Sterling has tumbled by over three cents to 37-year low, and UK gilt yields are surging, after Kwasi Kwarteng announced huge unfunded tax cuts

The Guardian - UK

Mini-budget latest LIVE: Kwasi Kwarteng scraps 45% top rate of income tax as Chancellor slashes stamp duty

The basic rate of income tax will be cut to 19p in the pound from April 2023 and the 45% higher rate will be ‘abolished’

Evening Standard

Energy crisis: why government support for businesses could harm the economy in the long run

The UK government hopes to protect businesses and public sector organisations against spiralling energy costs with a package that parallels the price cap and support payments recently promised to households. But these significant interventions come with a large and imprecise price tag that raise serious doubts about the government’s future…

The Conversation

Inflation, unrest challenge Bangladesh's 'miracle economy'

Bangladesh's economic miracle is under severe strain as fuel price hikes amplify public frustrations over rising costs for food and other necessities

The Independent UK

What to expect from the mini budget as rich set to benefit from tax cuts

Ahead of the announcement the Chancellor revealed the National Insurance hike introduced by former Chancellor Rishi Sunak would be reversed on November 6.

Daily Record

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Wales Online

Consumer confidence plunges to another record low amid deep concerns over personal finances

GfK's index shows the new low is the fourth time it has been recorded in the past five months as people fret over the state of the economy

AAP

Coalition, Labor say low risk of recession

The Labor government and federal opposition believe Australia's economic fundamentals are strong, but there are headwinds coming from overseas.

The Independent UK

Kwarteng ‘dash for growth’ in mini-budget sparks fears for environment and economy

‘Growth plan’ will break ‘cycle of stagnation’, chancellor promises

The Guardian - UK

UK in recession and further interest rate hikes probable, Bank of England warns

Threadneedle Street makes clear on eve of tax-cutting mini-budget that plans risk triggering more rate rises

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Chronicle Live

What to expect in tomorrow's Mini-Budget - Stamp Duty, energy bills and National Insurance

Everything we know about Kwasi Kwarteng's statement tomorrow - from Bankers' Bonuses to the real living wage.

France 24

Bank of England warns UK 'may be in recession' as it hikes interest rates

The Bank of England has warned that the UK economy may already be in recession, as it hikes interest rates for the seventh time to combat the spiralling pace of price rises. Inflation is still hovering nearly 40-year highs at just under 10 percent. Meanwhile, Turkey's central bank continues its…

Daily Mirror

Mini-Budget 2022: All predictions with Stamp Duty, energy bills and National Insurance

What time is the mini-Budget? Will it increase the real living wage? And why on earth is it tipped to axe the bankers' bonuses cap? Here's everything we know about Kwasi Kwarteng's statement

StockNews.com

2 Stocks You Should Take off Your Watchlist This Fall

The central bank has dished out another 75 basis-point rate hike in its efforts to tame the decades-high inflation. With a recession expected to hit the economy soon, fundamentally weak stocks Snap (SNAP) and Palantir Technologies (PLTR) might be best avoided. Read on….

Tribune News Service

Scott Burns: Limiting workdays could rearrange life and our economy

Do you ever get the feeling there is something fundamentally wrong with how we live?

The Conversation

Why Liz Truss is no Margaret Thatcher when it comes to the economy

The UK’s new prime minister, Liz Truss, has made no secret of her admiration of her late predecessor, Margaret Thatcher. However, anyone expecting a swift return to Thatcherite policies in 2022 should probably take a closer look at Truss’s politics.

Reason

Most Americans Say Immigrants Make the U.S. Better. So Why Don't Politicians Do Anything About It?

Democrats pander to immigrants but do little to liberalize the system. Meanwhile, Republicans' hostility to immigrants has increased.

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