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The Latest Breaking News from Inflation

The Inflation Reduction Act Is Screwing Up the Market for Electric Vehicles

Volkswagen unveiled a cheap new electric concept car, but protectionist policies mean it's not worthwhile for the company to introduce it in the U.S.

Reason

Billionaire investor Barry Sternlicht says the Fed's rate hikes are like using a 'steamroller' to 'kill a small fly' and warns the economy is about to 'hit the wall'

The billionaire investor says interest rate hikes are undermining the economy and could lead to more bank turmoil.

Fortune

Debt, expenses stress lower income households: AP-NORC poll

A new AP-NORC poll shows that personal finances are a major source of stress for about half of the lower income households in the U.S.

The Independent UK

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3 Streaming Stocks You Want No Part Of

Streaming stocks faced a rough year in 2022 as subscriber growth slowed amid concerns about high inflation and macro uncertainties. Therefore, it could be wise to avoid fundamentally weak streaming stocks Warner Bros. (WBD), Paramount Global (PARA), and World Wrestling (WWE), given their weak fundamentals. Read more….

StockNews.com

Four ways the UK economy is being hampered by the private sector

The UK government has decided to go ahead with a rise in corporation tax in April 2023. The move is a clear reversal of the tax reduction which previous chancellors hoped would encourage output and innovation.

The Conversation

Haiti faces ‘hunger emergency’ amid escalating gang violence and surging inflation

Acute hunger is affecting 4.9 million Haitians, according to a UN report, which outlines the increased need for humanitarian aid

The Guardian - UK

Biden Approval Dips Near Lowest Point, Finds Poll

Approval of President Joe Biden has dipped slightly since a month ago, nearing the lowest point of his presidency as his administration tries to project a sense of stability while confronting a pair of bank failures and inflation that remains stubbornly high. That’s according to a new poll by The…

Asharq Al-Awsat

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Greedflation: are large firms using crises as cover to push up their profits?

Critics of corporate behaviour over the pandemic and Ukraine war say company profit and loss accounts tell their own story

The Guardian - UK

Wetherspoons warns prices could rise if sales do not continue to grow

‘We try to remain competitive in every pub’, pub boss Tim Martin told The Independent

The Independent UK

Full list of benefits going up from April 2023 – from Universal Credit to state pension

Inflation-linked rises detailed, all applying from April 10

Nottingham Post

Portugal announces $2.7 billion anti-inflation package

Portugal's government on Friday announced measures worth 2.5 billion euros ($2.7 billion) to help low-income families cope with soaring inflation and high interest rates, including scrapping value added tax (VAT) on essential food products.

Reuters

Bank of England chief warns firms hiking prices could lead to higher interest rates

His comments follow a surprise increase in inflation earlier this week and the Bank of England's decision to raise interest rates - the 11th rise in a row - from 4% to 4.25%.

Daily Mirror

Australian banks predict another interest rate rise despite hopeful investor outlook

Big four banks believe RBA will lift cash rate by at least another 25 basis points though many predict rises are close to a peak

The Guardian - AU

Volcker slayed inflation. Bernanke saved the banks. Can Powell do both?

History remembers Paul Volcker as the slayer of inflation, and Ben Bernanke as the crisis firefighter. Jerome Powell is in danger of having to play both roles at once — or, what may be worse, to choose between them.

Tribune News Service

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Insider UK

Wetherspoon returns to profit after ‘ferocious’ inflation hit

Pub chain reports pre-tax profit of £4.6m, compared with a loss of £21.3m in the same period last year

The Guardian - UK

Bank of England boss urges firms to hold back price rises or risk higher rates

Andrew Bailey says interest rates will have to rise again unless inflation falls

Insider UK

Interest rates will rise again if businesses raise prices – Bank of England boss

Governor states optimistic outlook that the UK can avoid a recession, after being on a 'knife edge' last month

The Independent UK

Bank of England boss warns firms that raising prices will trigger higher interest rates

Bank governor Andrew Bailey speaks after increasing rates to highest level in 14 years

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The Guardian - UK

Deutsche Bank shares tumble as fresh banking sell-off grips Europe and US – as it happened

Stock markets and oil fall amid fears over Germany’s biggest bank

Birmingham Post

Big Interview: Everards Brewery MD Stephen Gould on hotel plans, the price of a pint and his retirement plans

Pub and beer group is looking for a hotel operator for the next phase of its Everards Meadows site in Leicester

Evening Standard

Interest rates will rise again if businesses hike prices, Bank of England boss warns

His comments come after interest rates were lifted to 4.25% from 4%.

Fortune

Wall Street’s ‘Dr. Doom’ sees ‘Bermuda Triangle’ of risks for economy and warns of a 2008-like crisis

“We avoided the debt crisis a couple of times...but now the game is over," economist Nouriel Roubini said in a new interview.

Tribune News Service

Four takeaways from General Mills' latest quarter, including more inflation effects

Inflation is proving stickier than a Pillsbury cinnamon roll for General Mills.

The Independent UK

Mortgage misery as Bank of England hikes interest rates to a 14-year high

Double whammy as average council tax bill to pass £2,000 for the first time

The Independent UK

Fed's unwanted ally in bid to tame inflation: Credit crunch

The Federal Reserve is getting some unwanted help in its drive to slow the U.S. economy and defeat the worst bout of inflation in four decades: A cutback in bank lending

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