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The Latest Breaking News from Inflation

Will the Democrats’ Inflation Reduction Act bring prices down? What the experts say

WASHINGTON — President Joe Biden and congressional Democrats are touting the “Inflation Reduction Act” as their big election year triumph, a major way of getting soaring prices to come down.

McClatchy Washington Bureau

Elon Musk Dares Twitter's Parag Agrawal, Climate Bill Scrapes Through, Fed Official Steps Up Hawkish Rhetoric And More: 5 Key Stories You May Have Missed From This Weekend

The weekend that went past had its fair share of action, with Washington lawmakers keeping companies and investors on tenterhooks regarding the Senate clearance of the climate bill before finally approving it. With earnings still on the radar and key inflation data due in the unfolding week, here's a recap…

Benzinga

What is The Inflation Reduction Act? Rishi Sunak to raise concerns with plan to Joe Biden

Everything you need to know about the Inflation Reduction Act

Evening Standard

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read the most diverse news in one place.

The ASX eyes important psychological mark as inflation data commands attention

The ASX200 posted its first weekly close above the psychologically important 7000 point level since May, analysts will be watching to see if stays there.

The New Daily

Bankers get inflation-busting pay rises while low-income workers see earnings collapse

Worst-off get 1% wage increase as City of London workers toast large bonuses and 10% hike in overall pay

The Independent UK

State pension could hit £10,000 a year for the first time ever in huge retirement boost

The state pension is set for a rise of £962 next year due to rising inflation - but a sea of rising costs mean pensioners may not be much better off in real terms

Daily Mirror

Liz Truss ally in car crash interview as he refuses 9 times to back cost-of-living handouts

The cost-of-living crisis is set to get worse with inflation currently at 9.4 per cent and expected to peak at 13 per cent.

Daily Record

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Voters want government to get inflation under control before cutting tax, poll reveals

Results cast unfavourable shadow over plans of leadership contest frontrunner Liz Truss

The Independent UK

First Thing: Senate passes $739bn healthcare and climate bill

Inflation Reduction Act will reduce planet-heating emissions and lower prescription drug costs – and give Biden a crucial victory. Plus, meet Casper the ghostly octopus

The Guardian - UK

Sunak says Truss’s cost of living plan is ‘big bung’ to wealthy and large firms

Favouring tax cuts above support payments will leave those most in need out in cold, says ex-chancellor

The Guardian - UK

Democrats celebrate after sweeping US climate change bill passes Senate

If signed into law, the bill will allocate $369bn to schemes tackling climate change

Evening Standard

Senate delivers a major boost to Biden's agenda

In a statement after the Senate passed the roughly $700 billion bill, the president said "doing the important thing almost always" requires compromises.

WEKU

Poll: Black, Native American and Latino families face serious problems from inflation

Those households are struggling to stay afloat, according to a new poll from NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health.

WEKU

Disneyland has been raising food prices. Blame inflation

ANAHEIM, Calif. — Even within the walls of the Happiest Place on Earth, there's no escaping inflation.

Los Angeles Times

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The Independent UK

Sunak and Truss in new clash over cost-of-living crisis

Former chancellor said his rival’s plans for tax cuts are a ‘big bung’ for large businesses and the better off.

Asharq Al-Awsat

Japan Tech Giant Softbank Posts $23 Billion Quarterly Loss

Japanese technology company SoftBank Group posted a $23.4 billion loss in the April-June quarter as the value of its investments sank amid global worries about inflation and interest rates. SoftBank Group Corp.’s loss of 3.16 trillion yen was a reversal from its 762 billion yen profit in the same quarter…

Tribune News Service

Commentary: The new climate bill’s ripple effect on oceans

The Inflation Reduction Act (IRA), announced in late July by Sens. Chuck Schumer, D-N.Y., and Joe Manchin, D-W.Va., includes $369 billion in tax incentives to boost wind, solar and other clean energy. Although a step in the right direction, the bill will not by itself be enough to keep global…

Tribune News Service

The US climate bill could make now the best time to go solar

If signed into law as written, the climate bill before the U.S. Congress would change the calculus for American households thinking about going solar. The legislation stands to make that transition more affordable while also subsidizing purchases of electric cars, heat pumps, high-tech water heaters and battery-storage systems — clean-energy…

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Tribune News Service

COUNTERPOINT: Manchin disappoints with Inflation Reduction Act

Throughout Joe Biden’s presidency, Sen. Joe Manchin, D-W.Va., has acted as a check on his party’s worst excesses. Manchin has stopped billions, possibly trillions, in unaffordable government spending. He trimmed bills into a reasonable state and was the key voice bringing the Biden infrastructure bill from $715 billion down to…

The Independent UK

Japan tech giant SoftBank posts $23 billion quarterly loss

Japanese technology company SoftBank Group posted a $23 billion loss in the April-June quarter as the value of its investments sank amid global worries about inflation and interest rates

The Independent UK

Asian stocks mixed after US job gain paves way for rate hike

Asian stock markets are mixed after strong U.S. jobs data cleared the way for more interest rate hikes and China reported Monday that its exports rose by double digits

The Guardian - UK

Monday briefing: How to understand the huge numbers that rule our economy

In today’s newsletter: From GDP and government spending to inflation, it can be hard to get around the big figures you see in the headlines and what they really mean. So here’s a guide

The Independent UK

Winners and losers after Democrats pass their massive climate and healthcare legislation

Chuck Schumer and Joe Biden get a much-needed victory and Joe Manchin takes a victory lap while Bernie Sanders and Kyrsten Sinema get left in the dust

ABC News

Economists deeply divided over Reserve Bank's likely interest rate trajectory

The major banks are deeply divided about the outlook for interest rates, and the difference is worth about $284 a month to a typical recent home buyer. So who will be right?

The Independent UK

Asian stocks mixed after US job gain paves way for rate hike

Asian stock markets are mixed after strong U.S. jobs data cleared the way for more interest rate hikes and China reported its exports rose by double digits

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