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The Latest Breaking News from Economy

Asian benchmarks decline after bear market hits Wall Street

Asian shares fell across the board after Wall Street tumbled into what’s called a bear market, indicating that major U.S. benchmarks and individual stocks have fallen 20% or more from a recent high for a sustained period of time

The Independent UK

Treasury bond yield inversion raises worries over recession

One of the more reliable warning signals for an economic recession is shining alarmingly brighter

The Independent UK

China vows to adapt better to climate change as risks soar

China's economy and society are at increasing risk from climate change and the country needs to improve adaptation mechanisms and monitoring capabilities at every level of government, according to a new policy document.

Reuters

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NY GOP governor candidates debate over crime, economy

Four Republican candidates for New York governor pledged to undo years of one-party rule and focus on battling crime if elected to office during a televised debate Monday night

The Independent UK

Wall Street sours on S&P as margin woes rattle Corporate America

Wall Street is afraid to buy the dip this time around.

Tribune News Service

Stocks’ pandemic bull run ends with recession fear: Markets wrap

U.S. stocks entered a bear market, Treasury yields spiked to levels not seen in a decade and the dollar rallied as the fallout from a hot inflation reading continued to rattle global trading already shaken by worries the Federal Reserve will plunge the economy into a recession.

Tribune News Service

Northern Ireland High Street Heroes awards launched to find best independent retailers

"Today is about highlighting the contribution of retailers over the past couple of years in supporting their local communities"

Belfast Live

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Wall Street recession fears ramp up as S&P 500 tumbles

The S&P 500 dropped 2.4% in the first chance for investors to trade after getting the weekend to reflect on the stunning news that inflation is getting worse, not better

The Independent UK

Hot inflation dims likelihood Fed can achieve 'soft landing'

For months, Chair Jerome Powell has held out hope that the Federal Reserve will be able to raise interest rates high enough to throttle rampant inflation without tipping the economy into recession

The Independent UK

Improved disease control in public buildings ‘could save UK billions a year’

Measures such as improved ventilation would boost economy by helping prevent ill health, says report

The Guardian - UK

What is a recession and how long could the next UK downturn last?

The Bank of England expects that the UK economy has shrunk between July and September 2022. This means the country may be in recession. But what does this mean and how will recession affect you?

Daily Mirror

Nicola Sturgeon: Scotland must be 'global hub' for business as Brexit hurts economy

SCOTLAND can and should “strive to be a global hub for purposeful business”, the First Minister has said.

The National (Scotland)

Baggage allowance guide: Luggage limits for British Airways, Ryanair, easyJet and more

Wondering how much you can cram into your hand luggage on your next trip? Here’s what each of the major airlines flying out of the UK allows

The Independent UK

US investors see a bear market; here’s what that means

Wall Street looks like it will open the week with more losses, with the S&P 500 falling to a level that market observers consider to be a so-called bear market

The Independent UK

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Roll Call

Group testing ads to see if Democrats can go on offense on the economy - Roll Call

Ads aimed at four House Republicans in competitive races will test if Democrats can take the offensive on the economy.

Caixin Global

China Should Deepen Reforms and Opening Up to Keep Economy Stable

For the Chinese economy to stabilize, it is important to revitalize private and foreign investment, and boost market players’ confidence in China’s economic prospects

The Conversation

Immigrants are only 3.5% of people worldwide – and their negative impact is often exaggerated, in the U.S. and around the world

-Ernesto Castañeda is an associate professor in the Department of Sociology at American University and the Director of the Immigration Lab. Castañeda explains why immigration is an important force counteracting population decline in the U.S. and why that matters to the economy and America’s global power. Below are highlights from…

Evening Standard

The Standard View: A trade war with Europe is not the answer to the cost of living crisis

The UK economy shrank by a larger than expected 0.3 per cent in April, heightening fears that Britain is headed for recession. City experts had been expecting output to contract by 0.1 per cent, following a similar decline in March.

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Daily Mirror

Downing Street say it's 'too early' to tell if Brexit is shrinking UK economy

Boris Johnson's spokesman insisted Brexit will boost the economy in the 'long-term' after figures showed Gross Domestic Product (GDP) shrinking by 0.3% in April

Evening Standard

Cabinet minister in ‘complete denial’ over Brexit harm to Britain’s economy which experts put at £31billion

Treasury silent on damage being caused by Brexit to Britain’s economy and Bank of England accused of being reluctant to talk about it

Evening Standard

Sterling slides as all three sectors of British economy go into reverse

Recession red light blinks as output fell by 0.3% including services, production and construction

Daily Record

Boris Johnson signals no cuts in taxes as inflation soars and UK economy shrinks again

The latest figures from the Office for National Statistics heighten fears that Britain is heading for a recession.

Wales Online

What is a recession and what would it mean for you

There are fears the UK is heading into a serious economic downturn

Reuters

Striking S.Korean truckers say they may block coal to power plant

Striking South Korean truckers are considering blocking shipments of coal to a power plant if the government rejects their demands for minimum pay guarantees, a senior trade union official said on Monday.

The Independent UK

UK must ’embrace new technologies’ to grow economy, Chancellor says

Rishi Sunak was speaking as he opened London Tech Week.

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