The Latest Breaking News from Economy

ExxonMobil and Chevron shatter profit records; eurozone inflation hits record 8.9% – business live

US oil companies post huge earnings, as sky-high fuel costs hit consumers and drive up inflation

The Guardian - UK · Jul 29, 2022

Here’s why the US economy shrinking in the 2nd quarter may not be so bad

WASHINGTON — In the most aggressive back-to-back interest rate increases since the early 1980s economic crisis, the Federal Reserve on Wednesday announced another hike of three-quarters of a percentage point and signaled more to come in its effort to beat back inflation despite the risk of a recession.

Los Angeles Times · Jul 29, 2022

Argentina's Fernandez bets on 'superministry' to stop economic bleeding

Argentine President Alberto Fernandez launched his latest effort to tackle an economy in crisis on Thursday, tapping one of the ruling coalition's most powerful figures to lead a new "superministry" on the same day the central bank hiked interest rates to 60%.

Reuters · Jul 29, 2022

America tips into unofficial recession as global markets hold breath

Second successive drop as growth retreats 0.9% in the three months to June

Evening Standard · Jul 28, 2022

Worries over winter test support in Germany for Russia sanctions

The German government's hard line on Russia over the Ukraine war is coming under pressure at home amid growing worries about the resulting soaring energy prices and possible gas shortages in Europe's largest economy when winter comes.

Reuters · Jul 28, 2022

First North Wales Growth Deal project launches

The North Wales Growth Deal is a £1 billion investment to the region’s economy

Birmingham Post · Jul 28, 2022

US economy shrinks for a second quarter, fueling recession fears

The drumbeat of recession grew louder after the U.S. economy shrank for a second straight quarter, as decades-high inflation undercut consumer spending and Federal Reserve interest rate hikes stymied businesses and housing.

Tribune News Service · Jul 28, 2022

Yellen insists US not in recession as economy shrank 0.9 per cent in second quarter

Two negative quarters meets the informal definition of recession but many economists disagree

The Independent UK · Jul 28, 2022

When does a recession begin – and is the US in one now?

Question weighs on consumers, politicians and investors around the world as the Federal Reserve raises interest rates

The Guardian - US · Jul 28, 2022

U.S. economy shrinks for second straight quarter, igniting recession fears

It's not officially a recession yet, but the data shows the economy is on shakier footing as growth slows.

Axios · Jul 28, 2022