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The Latest Breaking News from Economy

Shares of leading broad line distributor W.W. Grainger (GWW) have been gaining momentum despite the current bearish market thanks to its recently announced dividend increases and better-than-expected quarterly results. So, as the economy heads toward a recession, will GWW be able to maintain its upward trajectory in the near term?…

StockNews.com

5 Cost-Conscious Retail Stocks That Could Thrive During a Recession

Many analysts believe that the U.S. economy is slipping into recession. We think investors looking to dodge the recessionary pressure could bet on discount retail stocks Costco (COST), Walmart (WMT), BJ’s Wholesale (BJ), PriceSmart (PSMT), and Target (TGT). So, let’s discuss.

StockNews.com

‘The threat of abuse and violence is still a daily part of the job’: the bereaved women fighting to protect gig economy drivers

In 2021, the Bolt driver Gabriel Bringye was killed by a group of teenagers. Now his fiancee and sister are battling to ensure it never happens again

The Guardian - UK

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Recession: the price Britain will pay to control inflation

Analysis: As the Bank of England raises interest rates the message is clear – the 1970s are back

The Guardian - UK

More Americans apply for jobless aid last week

More Americans applied for unemployment benefits last week but the total number of people collecting jobless aid is at its lowest level in more than 50 years

The Independent UK

Alarm for cost-squeezed firms as interest rates hiked to 1%

Rising costs will hammer household and business finances, but the Bank said “this was something monetary policy was unable to prevent”.

Birmingham Post

Bank of England hikes interest rates and issues recession warning

UK interest rates have been raised amid warnings the economy will go into reverse and that inflation will peak at more than 10.

The National (Scotland)

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Interest rates soars to 13-year high as Bank of England warns energy bills will soon hit £2,800

It is a crippling cost of living crisis

Manchester Evening News

Bank of England warns of recession in UK as interest rates hiked to 1%

The Bank of England increased interest rates as it battles against rising inflation and warns that the economy will go into reverse this winter.

Daily Record

Bank of England warns energy bills will hit £2,800 and inflation will surge to 10%

The cost of living will hit a record high this year, the Bank of England is warning, with inflation due to hit 10% and the price of energy bills and food likely to keep rising

Daily Mirror

Bank hikes rates to 1% and warns cost crisis will send economy into reverse

Members of the Bank’s nine-strong Monetary Policy Committee voted 6-3 to increase rates from 0.75% to 1%, the highest level for 13 years.

The Independent UK

'Japan is a buy,' PM Kishida tells City of London

Japanese Prime Minister Fumio Kishida took his appeal for foreign investment to the bankers and investors of the City of London on Thursday, saying his shift to an upgraded version of capitalism would spur economic growth.

Reuters

US Federal Reserve walks fine line between inflation and recession

America's central bank is hiking interest rates by half a percent in a bid to tame decades-high inflation in the US. But it’s also tempering its plan for future hikes to avoid sending the economy into recession. Meanwhile, French consumers are facing skyrocketing prices across a number of sectors.

France 24

‘A second Afghanistan’: Doubts over Russia’s war prosecution

Russia’s lack of progress in its war against Ukraine has been noted by analysts since it launched a second phase.

Al Jazeera

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Wales Online

Bank of England interest rate rise - how it would affect savings, mortgages and pensions

Interest rates are expected to be hiked again on Thursday to 1% - their highest level for 13 years

The Guardian - UK

Pound tumbles to two-year low as stagflation fears rise – as it happened

Sterling tumbles to lowest since June 2020 as Bank of England lifts interest rates to 13-year high, cuts growth forecasts, and sees inflation hitting 10%

The Guardian - UK

Bank of England expected to raise interest rates to 13-year high

Economists predict minimum 0.25 point rise as households contend with cost of living crisis

The Independent UK

Rising interest rates in US will hinder foreign economies

When the Federal Reserve raises interest rates — as it did Wednesday — the impact doesn’t stop with U.S. homebuyers paying more for mortgages or Main Street business owners facing costlier bank loans

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Reuters

Rising oil prices buy Iran time in nuclear talks, officials say

Emboldened by an oil price surge since Russia invaded Ukraine, Iran's clerical rulers are in no rush to revive a 2015 nuclear pact with world powers to ease sanctions on its energy-reliant economy, three officials familiar with Tehran's thinking said.

The Conversation

China’s 'innovation machine': how it works, how it’s changing and why it matters

China has had the world’s fastest growing economy since the 1980s. A key driver of this extraordinary growth has been the country’s pragmatic system of innovation, which balances government steering and market-oriented entrepreneurs.

Los Angeles Times

Fed orders biggest interest rate hike since 2000 to combat inflation

WASHINGTON — For the first time in 22 years, the Federal Reserve on Wednesday pushed up interest rates by a full half-percentage point — a significant escalation of its efforts to get control of troublingly high inflation.

Benzinga

Powell Says More Hikes Are Likely Coming, But US Economy Is 'Well Positioned' To Handle Them

Federal Reserve Chairman Jerome Powell had some relatively soothing words for the markets after the Fed on Wednesday raised its target fed funds rate by 0.5% to a new range of between 0.75% and 1.0%.

France 24

US Federal Reserve hikes interest rates to tackle inflation

The US Federal Reserve has hiked interest rates by half a percentage point - double its usual rate - to tackle the country’s highest level of inflation in 40 years. Fed Chairman Jerome Powell said it was 'essential' to lower inflation and reduce hardship for American families. Thomas Costerg, Senior…

The Hindu

Inflation control needs another model

Lasting inflation control would require placing agricultural production on a steady footing

The Hindu

Economic speed bumps yes, but no breakdown

Nepal’s vulnerability has been exposed by the lack of pragmatic policy interventions and abrupt moves towards self-sufficiency

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