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The Latest Breaking News from Inflation

Biden will cancel $10,000 of student debt for many borrowers

WASHINGTON — President Joe Biden announced Wednesday that he is canceling $10,000 in student debt for individuals earning less than $125,000 annually and extending a pause on loan repayments for all borrowers through the end of the year.

Los Angeles Times

Mass redundancies could hit smaller UK businesses, employment expert warns

Employment law firm citation has reported a huge rise in enquiries from SMEs about laying off staff

Evening Standard

Rishi Sunak hits out at Liz Truss over ‘complacent’ economic policies

The former chancellor vowed to prioritise the battle against inflation while his rival advocates tax cuts.

The Independent UK

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Biden's Student Debt Relief Plan Will Worsen Inflation

"Student loan relief would lead some people to spend more," warns Obama economic advisor and Harvard economist Jason Furman

Reason

5 Discounted Mega-Cap Stocks Under $20

The stock market has experienced wild swings this year amid increased interest rates, ongoing geopolitical conflict, and sky-high inflation. Although a slight decline in inflation last month and strong corporate earnings have improved investors’ sentiments, market volatility is expected to persist. Thus, we think investing in under $20 mega-cap stocks…

StockNews.com

Large firms are consolidating power like Scott Morrison consolidates jobs – and it’s hurting productivity

In a speech today, the assistant minister for competition, Andrew Leigh, will point the finger at big business over the inflation crisis

The Guardian - AU

South Africa's COSATU leads union protests over high cost of living

Hundreds of South Africans protested in Pretoria and Cape Town on Wednesday against inflation that has soared to a 13-year high, in an action led by trade union group COSATU, a long-time ally of the ruling African National Congress.

Reuters

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South African workers march in capital against inflation

South African workers have demonstrated against the country’s rising cost of living including record-high fuel prices and increased costs for basic foods

The Independent UK

Calls for Government to raise minimum wage to £15 per hour 'as soon as possible'

The Trades Union Congress (TUC) is calling for the the minimum wage to increase to £15 as regular pay has only increased 4.7 per cent while the rate of inflation hit 10.1 per cent.

Edinburgh Live

Martin Lewis MoneySavingExpert on where to find the 'hidden' cheaper food in supermarkets

All shoppers have to do to find cheaper food is look down a different aisle

Chronicle Live

Four ways to spend your dwindling cash that will boost your wellbeing

The cost of living crisis shows no signs of letting up. Inflation around the world continues to rise and economists are predicting numerous countries will go into recession.

The Conversation

Summer of discontent as UK hit by huge energy bills, axed flights and strike delays

The UK is facing a summer of discontent with rising energy bills, soaring food prices, flight cancellations, a looming recession and strikes expected across the country in the coming months

Daily Mirror

Martin Lewis' MSE on the supermarket aisles shoppers can find cheaper foods

Sometimes the difference in prices can be just metres apart

Wales Online

Freddos return to 10p with company that is 'turning back the clocks to 1994'

We like to joke that the cost of inflation can be marked by how expensive the nostalgic chocolate Freddo costs at the local corner shop - but one company is selling it again for a mere 10p.

Edinburgh Live

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The National (Scotland)

Nicola Sturgeon will 'bust a gut' to avoid more strikes but Westminster must act

NICOLA Sturgeon has said there is a "real case" for civic mobilisation amid ongoing pay disputes, as she spoke of her Government's budget…

The Guardian - UK

Zahawi faces shortest chancellorship since 1970 – and may be glad of it

The ex-vaccines minister appears to be the equivalent of a caretaker football manager, with Kwarteng waiting in the wings

The Conversation

If interest rates are raised high enough to kill off inflation, how bad will the consequences be?

Cineworld has signalled its intention to declare bankruptcy. Like many companies in the UK and elsewhere, the London-based cinema chain took on massive amounts of debt to expand. It is expected to use the Chapter 11 process in the US to restructure its debt and other obligations.

The Independent UK

Sturgeon: Scottish Government action on pay is hindered by budget limitations

The First Minister said there was a case for the UK Government to make a ‘large scale intervention’ into the cost-of-living crisis.

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Irish Mirror

Blackouts, price hikes and recession - what winter in Ireland might look like this year

With the ongoing cost of living crisis, rising energy costs, potential blackouts and recession are looming this winter, according to several experts.

The Independent UK

Rishi Sunak questions whether Liz Truss’s tax plans are truly Thatcherite

Sunak says Thatcher would know Truss’s planned tax cuts ‘aren’t a sensible approach’

The New Daily

Mixed news for Coles customers as profits and prices rise

Supermarket chain Coles had good and bad news for households on Wednesday after posting a 4.3 per cent uplift in annual profits to $1.04 billion.

Irish Mirror

I earn between €35k and €50k - what might Budget 2023 have for me?

Supports are expected to focus on middle and lower income earners who have been worst affected by the rising rate of inflation

The Independent UK

Cost of living: How to cope with the rise in prices

Millions of Britons are struggling as the price of everything soars amid rising energy prices and inflation. Kate Ng turns to financial experts for advice on how to deal with it all

Daily Mirror

Martin Lewis' MSE explains aisles where supermarkets ‘hide’ cheaper food

Martin Lewis' MoneySavingExpert website team has explained how you can often find cheaper versions of the same products in the world foods and baby aisles - so it pays to look around

Evening Standard

Costain on track to complete HS2 works as profits rise

Construction company says inflation clauses in contracts help offset rising commodity and energy costs

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