The Latest Breaking News from Economy

Nearly £25bn of consumer spending could be ‘lost’ this financial year

The ‘cut-back economy’ could mean nearly nine in 10 people reducing their discretionary spending, according to Grant Thornton and Retail Economics.

The Independent UK · Jul 18, 2022

New FEC filings show no sign of donors abandoning Democrats

WASHINGTON — The president’s party usually loses seats in midterms, and those losses can be significant when the president is unpopular and the economy is in turmoil.

Tribune News Service · Jul 18, 2022

It’s taken a leadership race for the Tories to fess up: they’ve wrecked the economy

Don’t take my word for it that they are the low-growth party? Just ask Liz Truss and Tom Tugendhat, says the Guardian columnist Owen Jones

The Guardian - UK · Jul 18, 2022

‘A weird dinging sound that everyone dreads’: What rapid deliveries mean for workers

'You’re not a person when you walk in the door, you’re a machine': Inside the supermarkets that offer on-demand home delivery.

The New Daily · Jul 18, 2022

Conservative leadership race: London MPs make their pitch for favourite to be next PM

Rishi Sunak and Liz Truss stepped up their battle over taxes on Monday as the five contenders to be the next Prime Minister unveiled their vision for London.

Evening Standard · Jul 18, 2022

Higher inflation won’t hurt T.N.’s economy: Palanivel Thiaga Rajan

Finance Minister says Tamil Nadu will hit its growth targets

The Hindu · Jul 18, 2022

The AP Interview: GM's Barra stands by ambitious EV pledge

The economy is a bit wobbly, but General Motors CEO Mary Barra isn’t backing off of an audacious prediction: She pledges that by the middle of this decade, her company will sell more electric vehicles in the U.S. than Tesla, the global sales leader

The Independent UK · Jul 18, 2022

Interest rates could hit 2% or higher in the next year, says Bank policymaker

Outgoing Monetary Policy Committee member Michael Saunders said increases ‘still have some way to go’ in order to get inflation under control.

The Independent UK · Jul 18, 2022

Liz Truss: Who is the foreign secretary hoping to become Prime Minister?

Social media savvy ‘human hand grenade’ seen as continuity candidate and faces uphill battle to displace favourites Rishi Sunak and Penny Mordaunt

The Independent UK · Jul 18, 2022

Economics of War: Pain for Europe Now, Later for Russia

Across Europe, signs of distress are multiplying as Russia’s war in Ukraine drags on. Food banks in Italy are feeding more people. German officials are turning down the air conditioning as they prepare plans to ration natural gas and restart coal plants. A giant utility is asking for a taxpayer…

Asharq Al-Awsat · Jul 18, 2022