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The Latest Breaking News from Inflation

Q1 Earnings Miss, Dismal Outlook, CFO Appointment: Burlington Stores' Q1 Highlights

Burlington Stores, Inc. (NYSE:BURL) reported a first-quarter FY22 sales decline of 12% year-on-year to $1.93 billion, missing the consensus of $2.04 billion. Comparable store sales decreased by 18%. The gross margin contracted by 230 basis points Y/Y to 41%. The total costs and expenses fell 3.5% Y/Y to $1.9 billion. Adjusted EBIT was…

Benzinga

Sunak sets out £15 billion emergency package to mitigate soaring cost of living

Every household will receive a £400 discount on energy bills while there will be extra help for the most vulnerable.

The Independent UK

Sunak’s package fails to tackle the true cause of UK inflation: shameless profiteering

The fact is, the price cap on energy bills is still going up – and this is a political choice, says James Meadway of the Progressive Economy Forum

The Guardian - UK

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Fewer Americans apply for jobless benefits last week

Fewer Americans applied for jobless aid last week as the number of Americans collecting unemployment benefits remains near five-decade lows

The Independent UK

US economy shrank by 1.5% in Q1 but consumers kept spending

The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter

The Independent UK

Qualcomm Chief Sees Prospects In High-End Smartphones, Meta Partnership Thanks To Augmented and Virtual Reality

In an interview at the World Economic Forum, Qualcomm Inc (NASDAQ:QCOM) CEO Cristiano Amon talked about growth as consumers increasingly chased "better phones," Reuters reports. Qualcomm's share with devices like the Samsung Galaxy grew from 40% share to over 75%. Qualcomm's technology powers augmented and virtual reality devices, including those made by Facebook…

Benzinga

Cost of living UK announcement in full: Rishi Sunak energy bills help and who gets what

The UK cost of living crisis is deepening with energy bills set to rise to £2,800 a year, up from less than £1,300 in the winter just gone. Rishi Sunak announced help for all Brits and targeted groups

Daily Mirror

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Three key measures announced by Rishi Sunak to help ease cost of living crisis

Chancellor Rishi Sunak has announced a new wave of fiscal measures to day to help the government tackle the soaring cost of living plaguing millions of households all across the UK

Manchester Evening News

Turkish central banks keeps rate at 14% despite inflation

Turkey’s central bank kept its main interest rate unchanged for a fifth month running despite an annual inflation rate of nearly 70%

The Independent UK

Cost of living payments and a windfall tax – Rishi Sunak’s measures at a glance

Chancellor announces new policies to tackle energy costs and inflation – here are the main points, with political analysis

The Guardian - UK

Fed Explores More Aggressive Interest Rate Hikes To Counter Inflation While Weighing Associated Risks

Federal Reserve officials discussed moving the U.S. central bank to a "restrictive" policy stance to counter inflation through more fierce interest rate increases, the Financial Times reports. However, the policy could undermine the strong recovery in the jobs market. Some Fed officials also saw risks to commodities markets stemming from the…

Benzinga

Rishi Sunak announces handout for everyone in the UK and windfall tax on energy

There is £400 for everyone, £650 for people on benefits, £300 for pensioners and £150 for disabled people

Wales Online

DWP State Pension boost of up to £1,000 expected for 2023

Good news for those claiming state pension

Nottingham Post

Commentary: How the Fed has set our economy up for disaster

For over a year, the Federal Reserve ignored myriad warning signs and continued injecting money into the economy. The result was the appearance of robust economic growth and a surge in demand, especially in the labor market, which ushered in decades-high inflation. But as the Fed belatedly raises rates, the…

Tribune News Service

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Businessweek

The Tech Rout Isn’t Just Cyclical—It’s Well-Earned, and Overdue

The market collapse isn’t just the inevitable result of macroeconomic forces like high interest rates and inflation. It’s also the best opportunity in more than a decade to reckon with the tech industry’s excess.

Tribune News Service

Stellantis CEO warns recession could harm EV adoption

Carlos Tavares, CEO of Jeep maker Stellantis NV, on Tuesday warned that a recession could be disastrous for the automotive industry as economic policymakers increase interest rates to curb inflation.

Newsroom.co.nz

China's Covid lockdowns add fuel to NZ's inflation fire

Renewed Covid restrictions in regions of China have accelerated increases in New Zealanders' cost of living.

The Guardian - UK

Rishi Sunak to announce windfall tax on energy firms

One-off levy to fund support package amid cost of living crisis which could include increase in benefits

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The Independent UK

Congressional Budget Office says inflation to last into 2023

The Congressional Budget Office says that high inflation will persist into next year

Benzinga

This Investor Just Sold Apple Stock To Buy Microsoft: Here's Why

Apple Inc (NASDAQ: AAPL) shares have held up well relative to most of the market as the Federal Reserve continues to fight runaway inflation.

StockNews.com

Better Buy: Keurig Dr Pepper vs. Monster Beverage

High inflation and the Fed’s aggressive interest rate increases could push the U.S. economy into a recession. But since consumer staples companies weather recessionary pressure well because of inelastic demand for their products, the stocks of prominent beverage companies Keurig Dr Pepper (KDP) and Monster Beverage (MNST) should stay afloat.…

Daily Mirror

Major cost of living announcement tomorrow as Tories scramble to move on from Partygate

Rishi Sunak will make a cost-of-living statement to the Commons where he could announce £10bn of new spending - funded by a windfall tax - with Tory sources claiming the brought-forward announcement would mostly help poorer families

Tribune News Service

Fragile job gains for Black workers at stake in inflation fight

For Black Americans, job prospects have improved since 2020. That’s the good news.

The Guardian - AU

Anthony Albanese has some tough economic problems on his plate. Here are seven of them

From sluggish wages to red-hot inflation, there are some unusual things happening in Australia’s economy

Benzinga

'You Have To Look At Everything': Salesforce's CEO On How Growth Companies Can Survive This Market

Tech stocks are tumbling as the Federal Reserve wrestles with inflation in what is expected to be the central bank's most aggressive tightening cycle in more than 40 years.

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