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The Latest Breaking News from Economy

Sri Lanka protesters vow will not let up until president, PM quit

Leaders of Sri Lanka's protest movement said on Sunday they would occupy the residences of the president and prime minister until they finally quit office, the day after the two men agreed to resign leaving the country in political limbo.

Reuters

Why Sri Lanka's economy collapsed and what's next

Sri Lanka’s departing prime minister says the island nation’s debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel

The Independent UK

Tory turmoil keeps Bank of England in the dark on tackling crisis

Policymakers can only wait and see how the next prime minister’s tax and spend policies will affect the economy

The Guardian - UK

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Putin is set to halt gas, and Germany fears it’s not coming back

FRANKFURT, Germany — On calendars in Germany’s industrial heartland and the halls of power in Berlin, July 11 has been marked in red for weeks.

Tribune News Service

Gas lines and scuffles: Sri Lanka faces humanitarian crisis

A few years ago, Sri Lanka had an economy strong enough to provide jobs and financial security for its 22 million people

The Independent UK

Stock Market Bottom? Think Again…

Determining bear market bottom is much easier in hindsight than doing it in real time. That's because the stock market (SPY) offers up many impressive bounces that give the illusion of the worst being over...just before you drop to even lower lows. So price action is a tricky way to…

StockNews.com

Lebanon: Economy Minister Speaks of ‘Gangs’ in Ministries

Lebanon’s caretaker Economy Minister Amin Salam said on Friday that 40% of Lebanon's flour stock is being smuggled into Syria, pointing to what he described as “gangs in the ministries” controlling the issue. “We can’t confront the thieves and smugglers alone. Reports show that 40% of the flour is being…

Asharq Al-Awsat

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June’s economy dichotomy: US adds 372,000 jobs while employers announce 32,000 layoffs

Is the hot labor market strengthening or weakening? Or doing both at the same time?

Tribune News Service

Shinzo Abe, killed at 67, leaves a storied legacy as Japan's longest-serving premier

The influential prime minister worked to revive the economy with his trademark "Abenomics" and rebuild Japan's role on the global stage. His assassination stunned a nation where gun violence is rare.

WEKU

Q&A: Will California's inflation relief plan make inflation worse?

Gov. Gavin Newsom announced in late June a $17 billion inflation relief package that would send money to millions of Californians.

Tribune News Service

June jobs report suggests Fed could avoid a recession – but room for error is minuscule

The U.S. economy added more jobs than expected in June, signaling the labor market remains strong even as the Federal Reserve tries to weaken it to tame inflation. The July 8, 2022, jobs report also showed the unemployment rate remained at a 70-year low of 3.6%.

The Conversation

EXPLAINER: 5 key takeaways from the June jobs report

Inflation is raging

The Independent UK

4 Downgraded Stocks to Stay Away From in July

With the increasing odds of the economy slipping into a recession due to the Fed’s aggressive interest rate hikes to reduce inflation, it could be difficult for fundamentally weak stocks to find support anytime soon. DiaMedica (DMAC), CytomX (CTMX), Meta Financial (CASH), and Live Oak (LOB) have recently been downgraded…

StockNews.com

What recession? Jobs numbers point to solid growth

The economy may not be coming in for a landing after all.

Axios

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The Guardian - UK

Boris Johnson has left the UK economy in a parlous state

Analysis: If Johnsonomics stands for anything, it is a lack of plan or vision to address Britain’s economic woes

The Conversation

UK political resignations: the current uncertainty could affect the economy for nearly two years

The recent dramatic events that led to the resignation of UK prime minister, Boris Johnson, on July 7 2022 raise the issue of how politics – and economic policy uncertainty more specifically – affects the UK economy. The answer, of course, is that it does, and sometimes for as much…

The Guardian - US

US adds 372,000 jobs in June as growth exceeds expectations

US unemployment rate held steady at 3.6%, labor department said, as jobs report indicated resilience

Nottingham Post

Warning that £1,200 could disappear from millions of UK bank accounts

A major recession is forecast for this time next year

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The Conversation

Five ways that the super-strong US dollar could hurt the world economy

The US dollar has been on a major surge against major global currencies in the past year, recently hitting levels not seen in 20 years. It has gained 15% against the British pound, 16% against the euro and 23% against the Japanese yen.

The Guardian - UK

Keir Starmer’s political gamble to resign if fined over Beergate pays off

Analysis: Labour leader must act fast to pin Johnson’s legacy and state of economy on entire Tory party

Reuters

Japan: Countries at G20 let Russia hear concern over Ukraine invasion

Japanese Foreign Minister Yoshimasa Hayashi said on Friday a G20 meeting in Indonesia was a good opportunity to convey to Russia the concern of G7 nations and others about the adverse impact of Moscow's invasion of Ukraine on the global economy.

The Independent UK

US economy adds 372,000 jobs amid concerns about inflation

The unemployment rate remains at 3.6 per cent but unemployment for Asian workers jumped by 3 per cent.

StockNews.com

Forget Alibaba Stock, These 4 China Companies Are Better Buys

The Chinese economy is recovering with the easing of strict COVID-19 measures, and the government is considering ramping up infrastructure funding. However, despite easing Chinese regulatory concerns, Alibaba Group (BABA) has been losing momentum amid the challenging macroeconomic environment. And we think fundamentally sound Chinese companies NetEase (NTES), FinVolution (FINV),…

Evening Standard

The UK is doing much better than you think and should avoid recession

City Voices: Britain will do better than the EU and the US this year

Evening Standard

Time for workers and bosses to shoulder the pain as worker pay rises

City Voices: Workers are not to blame for the weak economy

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