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The Latest Breaking News from Inflation

Rishi Sunak compares himself to Thatcher in attack on Liz Truss's tax cut plan

RISHI Sunak said he would not make promises he could not keep when it came to the cost of living crisis, as

The National (Scotland)

What is ‘multi-employer bargaining’? Could it help lift wages growth in Australia?

With workers’ pay rates stagnant for a decade and inflation eating into spending power, here’s what unions are proposing

The Guardian - AU

Woolworths hopes for return to normalcy

Woolworths says supply chain disruptions, shortages, absenteeism and flooding led to financial performance that was below the supermarket giant's aspirations.

AAP

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Why the IRA Does Not "Grant" the EPA "Broad Authority to Shift America Away from Burning Fossil Fuels"

A New York Times story creates a false impression about the effects of the Inflation Reduction Act's Climate Provisions

Reason

Student loan forgiveness – experts on banking, public spending and education policy look at the impact of Biden's plan

President Joe Biden announced a program to provide student debt relief to millions of borrowers of federal loans. The plan would offer up to US$10,000 in forgiveness for people who earn less than $125,000 – $250,000 for couples – and up to $20,000 for Pell Grant recipients. Biden also extended…

The Conversation

3 Stocks Upgraded to "Top Buys" This Week

The stock market experienced a sharp rebound since July, fueled by renewed investor optimism on several positive factors, including a slight decline in inflation. However, with inflation still hovering around 40-year highs and the possibility of the Fed maintaining its hawkish stance, the market is expected to remain under pressure.…

StockNews.com

What can unions and the Albanese government offer each other at the jobs summit?

This article is part of The Conversation’s series looking at Labor’s jobs summit. Read the other articles in the series here.

The Conversation

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In climate jobs era, here’s what Inflation Reduction Act means for Illinois workers

This new climate jobs stimulus will tip the scales and help us tackle the climate crisis while beginning to reverse 40 years of wage stagnation and widening racial inequality.

Chicago Sun-Times

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

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

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Reuters

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.

The Independent UK

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

Edinburgh Live

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.

Chronicle 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

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The Conversation

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.

Daily Mirror

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

Wales Online

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

Sometimes the difference in prices can be just metres apart

Edinburgh Live

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.

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.

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