The Latest Breaking News from Economy

Odds of US recession within next year climb to 60%, survey shows

Odds now favor that the U.S. economy slipping into a recession within the next year, with economists expecting the labor market and demand will become casualties in the Federal Reserve’s inflation battle.

Tribune News Service · Oct 14, 2022

Mexico labor ministry official named new deputy economy minister

Mexico's economy ministry said Friday that Alejandro Encinas Najera, a top labor ministry official, would become the country's new deputy economy minister.

Reuters · Oct 14, 2022

Arab League Praises Saudi Arabia’s Balanced Approach in Oil Markets

Arab League Secretary-General Ahmed Aboul Gheit expressed on Friday his rejection of the “negative media campaign against Saudi Arabia in wake of OPEC+’s partial oil cut” last week. A spokesman for Aboul Gheit said the “baseless” statements are “far removed from the truth.” “Rather, they are aimed at politicizing purely…

Asharq Al-Awsat · Oct 14, 2022

Barges Hit Bottom Of Mississippi River As Water Levels Approach Historic Low

The supply chain across the nation's heartland is facing significant constraints that could have far-reaching consequences into the winter, starting with farmers in the Plains and expanding all the way to the overall economy of the United States

Zenger · Oct 14, 2022

How to understand what's going on with UK mortgage rates

The UK mortgage market has tightened as confidence in the economy has faltered in recent weeks. Lenders withdrew more than 1,600 homeloan products after the (then) chancellor Kwasi Kwarteng’s September mini-budget sent the UK economy into a tailspin.

The Conversation · Oct 14, 2022

India will come out of current global turmoil, move on path of sustained growth: Finance minister

WASHINGTON: Finance minister Nirmala Sitharaman has exuded confidence that India will come out of the current global turmoil and move on the path of sustained recovery on the back of rapid digitisation and steps taken by the government.

The Times of India · Oct 14, 2022

Paid parental leave extended to 26 weeks by 2026, with pressure on dads to share more early caring

Government-funded paid parental leave will be extended, and more pressure placed on fathers to share caring for babies, under an initiative to be unveiled by Anthony Albanese on Saturday.

The Conversation · Oct 14, 2022

Canada should take heed of UK turmoil, resist more spending, analysts say

Canadian Prime Minister Justin Trudeau's government should avoid new stimulus when it updates its fiscal plans this fall and focus instead on paying down debt as governments globally face greater scrutiny managing their finances, analysts said.

Reuters · Oct 14, 2022

As the causes of US inflation grow, so do the dangers

What keeps driving inflation so high

The Independent UK · Oct 14, 2022

Nadine Dorries accuses senior Tories of trying to ‘overturn democracy’ over ‘plot to remove Truss’

Ministers are said to be privately calling for Ms Truss to be ousted because of her handling of the economy

Evening Standard · Oct 14, 2022