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The Latest Breaking News from Inflation

Bitcoin Set for Record Losing Streak as ‘Stablecoin’ Collapse Crushes Crypto

Cryptocurrencies nursed large losses on Friday, with bitcoin trading near $30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets. Crypto assets have also been swept up in broad selling of risky investments on worries about high inflation and rising interest…

Asharq Al-Awsat

Four in 10 Brits buying less food as prices soar

People cutting back on grocery shopping in cost of living crisis

Wales Online

Inflation inequality: Soaring prices weigh on low-income households

Inflation is at its highest level in decades in many parts of the world. In the US, consumer prices were 8.3 percent higher in April than a year earlier. In the eurozone, they rose by around 7.5 percent. Energy prices have been driving the surge, with Russia's war in Ukraine…

France 24

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Poll: Economy likely grew modestly in Q1

Thailand's economy likely grew modestly in the first quarter, thanks to robust exports and an easing of Covid-19 restrictions and despite low tourist arrivals and high inflation dampening consumer spending, a poll found.

Bangkok Post

Martin Schram: Rediscovering a president’s AWOL adviser

President Joe Biden launched a new offensive of message politics this past week, but appeared to be operating without the inner circle confidant he needs now more than ever.

Tribune News Service

Boss of world’s biggest microchip maker SMIC says smartphone demand dropping ‘like a rock’

The world’s biggest microchip maker has said demand for mobile phones and computers has dropped “like a rock” as war in Ukraine and Covid lockdowns in China take their toll on consumer demand for electronics.

Evening Standard

The market collapse was easy to see coming

The writing was on the wall.

Axios

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Elizabeth Warren targets price gouging

"Corporations have price gouged consumers for extra profits and gotten away with it for too long," said Warren

Salon

‘Golden era’ of cheap food is ending, says ex-Sainsbury’s boss

Justin King says government should step in with targeted funding through benefits to help households

The Guardian - UK

The Week Ahead: Draining the proverbial punch bowl for investors

It was a heckuva party and now the hangover has set in. The S&P 500 stock index is down about 20 percent from its pandemic high. The NASDAQ Composite has shrunk by almost a third from its high in November.

Miami Herald

Rees-Mogg in row on higher interest rates as he hails Thatcher’s 1980s economic policies

Brexit minister Jacob Rees-Mogg sparked a row on Friday after appearing to urge the Bank of England to hike interest rates as he hailed the 1980s economic policies of Margaret Thatcher.

Evening Standard

Elon Musk ‘still committed’ to Twitter deal after putting it on hold – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Asian shares bounce back, shrugging off inflation concerns

Asian shares have bounced back after losses earlier in the week, shrugging off the latest data showing U.S. wholesale prices soared 11% in April from a year earlier

The Independent UK

Boss starts paying staff in gold to beat the rise in inflation

Staff at a financial services firm have been offered the chance to get paid in gold rather than pounds and pence to help them keep ahead of inflation. TallyMoney CEO Cameron Parry is understood to be the first employer in the country to trial a gold

Wales Online

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The Hindu

NCP slams BJP over inflation, says ‘achhe din’ term needs to be archived and forgotten

The BJP had raised the ‘achhe din’ slogan during the 2014 Lok Sabha polls campaigning

The Hindu

Morning Digest | Inflation soars near eight-year high to 7.8% in April; 90 lakh Ujjwala scheme beneficiaries do not get refills, and more

A select list of stories to read before you start your day

Newsroom.co.nz

Famous last words: 'And you can quote me on that...'

James Elliott's look at the news of the week: From the lousy CEO who disrespected Nadia Lim, to wimples that conceal feminine charms, the price of broccoli and ACT's alternative budget

The Independent UK

Inflation triggers California minimum wage increase in 2023

California's minimum wage will increase to $15.50 per hour next year

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Reuters

Mexico to modify import and export law to curb inflation, govt says

A Mexican presidential decree will be issued on Friday to modify tariffs in the country's import and export law in a bid to curb inflation, a finance ministry spokesperson said on Thursday.

Axios

For Georgia swing voters, abortion isn’t the deciding issue

Focus groups pour cold water on Democrats' hopes to win based on calls to protect Roe v. Wade.

Daily Mirror

Question Time: Howls of laughter as Attorney General claims single mums now 'better off'

The Government's chief legal advisor Suella Braverman was heckled by the Question Time crowd when she claimed that a single mum was now better off despite the deepening cost of living crisis

ABC News

ASX defies Wall Street downer, as crypto struggles and $A falls

The Australian share market is ending the week on a high, despite global markets still struggling with looming rate hikes, war and inflation.

Bangkok Post

Ministry mulls 5 baht diesel tax cut

The Finance Ministry is considering a proposal from government officials to cut the diesel excise tax by 5 baht per litre when the current tax cut expires on May 20.

Newcastle Herald

Perrottet gives his MPs pay rises but opposes general wage increases despite rising inflation

One rule for us, another for them . . .

Benzinga

Small Business Revenues Are Up – But New Challenges Emerge As Businesses Continue The Pandemic Comeback

By Kathryn Petralia Kabbage from American Express has been tracking recovery trends and growth outlook of U.S. small businesses. Polling 563 small business leaders, our latest installment exhibits how small businesses are adapting to a shifting market as they look beyond pandemic-wrought challenges, adjust for inflation and modify hiring approaches.

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