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The Latest Breaking News from Economy

Social unrest over spiralling living costs spreads to France's railways

Railway workers in France went on strike on Wednesday, disrupting travel across the rail network days before the summer holidays begin and at a time of unrest in other areas of the economy as high inflation eats into salaries.

Reuters

Pound slumps to two-year low against dollar as fears for UK economy deepen

Sterling has fallen 11% against the US currency this year

The Independent UK

From blockbuster to bust: Behind the precipitous drop in IPOs

Private companies are sitting on the sidelines in 2022 after a record setting year of initial public offerings fueled by cheap borrowing.

WEKU

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Too much inflation aid from states could prolong the problem

Some states drawing up plans to send more dollars into the economy at a time when prices are spiking.

Axios

Roe, Uvalde could upend Texas election

A history-making spring in Texas is laying the groundwork for a contentious final four months in the race

Salon

New Chancellor Nadhim Zahawi confirms taxes will go up as families continue to struggle

The Tory MP was appointed Rishi Sunak's replacement late last night after he sensationally quit over the handling of the Chris Pincher affair.

Daily Record

The secret lives of Iran's smugglers

Smuggling is a huge part of the Iranian economy. All kinds of products change hands illegally in Iran, from contraband items like alcohol and satellite dishes, to washing machines, phones and car parts. However, little is known about these people who operate in the shadows. We're joined by Ershad Alijani…

France 24

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Bank of England vows to get inflation back to 2%

Chief economist Huw Pill wants to make strategy plain to the public in hint of more interest rate rises

The Guardian - UK

Sue Smith makes England prediction as Women's Euros campaign starts against Austria

Women's Euro 2022 starts on Wednesday as Sarina Wiegman's England take on Group A rivals Austria in the tournament opener at Manchester United's Old Trafford

Daily Mirror

I help rich people tackle inequality. Here’s how the cost-of-living crisis could be fixed

Wealth inequality is destabilising our economy and threatening the fabric of our society, says Stephanie Brobbey of the Good Ancestor Movement

The Guardian - UK

Sri Lanka's crisis rings alarm for other troubled economies

Sri Lanka is desperate for help to weather its worst crisis in recent memory, but it’s not the only economy that’s in serious trouble as prices of food, fuel and other staples soar, partly due to the war in Ukraine

The Independent UK

Argentina's economic change underlines president's weakening

The abrupt resignation of Argentina’s economy minister has engulfed the country in an all-too familiar anxiety that flows from its periodic financial crises in recent decades

The Independent UK

Keir Starmer: Vladimir Putin would back Scottish independence

LABOUR leader Sir Keir Starmer has agreed with his Scottish counterpart Anas Sarwar that Vladimir Putin would back independence.

The National (Scotland)

Consumer confidence in the economy hits lowest point since the pandemic – Which?

Just 8% of consumers think the UK economy will improve over the next 12 months while 78% think it will worsen, according to the Which? survey.

The Independent UK

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The Independent UK

Consumer confidence in UK economy at lowest point since pandemic says Which?

‘Relentless cost-of-living crisis is putting huge pressure on household finances’

Reuters

Ecuador president appoints Pablo Arosemena as economy minister

Ecuadorian President Guillermo Lasso appointed Pablo Arosemena, governor of the Andean country's Guayas province, as the new minister of economy and finances on Tuesday, hours after accepting the resignations of three ministers, including former Economy Minister Simon Cueva.

Benzinga

US Treasury Yield Curve Inverts Again As Dow Jones Index Plummets 130 Points

The U.S. Treasury Yield Curve inverted Tuesday, July 5, while the SPDR Dow Jones Industrial Average ETF Trust (NYSEARCA: DIA) fell 129.44 points. It's another sign that the economy is heading into a recession more and more each day.

The Guardian - US

Utah’s Great Salt Lake hits new historic low amid drought in western US

Vast body of water sets second record low water level in less than a year putting birds and $1.3bn lake-based economy at risk

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Bangkok Post

Operators awaiting B1.03bn stimulus

The tourism industry is awaiting a marketing stimulus budget of around 1.03 billion baht to help generate 265 billion baht in tourism receipts as a booster for the local economy this year.

Bangkok Post

Cannabis in the spotlight at BKK herb expo

The "National Herbs Expo" is back with a mission to help boost the economy, at Impact Exhibition Hall 11-12, Muang Thong Thani, from today until Sunday, from 10am to 8pm.

The New Daily

Michael Pascoe: Australian official briefed foreign power against RBA

While all eyes were on the Reserve Bank on Tuesday, an extraordinary story in the weekend press seems to have slipped by without notice.

The Canberra Times

Economy braced for fresh wave of hurt amid calls for 'belt tightening'

Major flooding will drive up inflationary pressures for the economy.

StockNews.com

2 Buy-Rated Stocks to Pick Up on Dips

The stock market started the second half of the year with gains. Moreover, the U.S. economy might succeed in dodging a recession, while the Fed is expected to reduce rates later this year. Given this backdrop, we think the dip in Buy-rated stocks Coca-Cola (KO) and Procter & Gamble (PG)…

The Independent UK

‘Rishi Sunak quits: Who is running the crumbling economy right now?’

Treasury left rudderless as chancellor dramatically resigns and Boris Johnson’s government falls deeper into chaos

Tribune News Service

Long, moderate and painful: What next US recession may look like

Recessions, like unhappy families, are each painful in their own way.

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