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The Latest Breaking News from Inflation

Morrisons in McColl's 'rescue talks' as chain warns 1,100 stores are at risk

The retailer has been in discussions with potential lenders - including Morrisons - to shore up the business, which struggled badly during the pandemic due to supply chain issues, inflation and a heavy debt burden

Daily Mirror

Tesla Raises Model Y Prices Again In Canada Amid Inflation, Supply Chain Woes

Tesla, Inc.'s (NASDAQ: TSLA) Model Y SUVs have become more expensive in Canada following another round of price hikes in the country.

Benzinga

Convenience store chain McColl’s collapses, putting 16,000 jobs at risk – as it happened

The chain said discussions with lenders collapsed on Friday as creditors refused to extend a deadline for the retailer to find more cash

The Guardian - UK

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House prices hit new record but growth expected to slow

The rate of growth will slow by the end of 2022, Halifax said.

The Independent UK

Queensland workers in pay dispute to only respond to bosses with ‘nanu nanu’ in protest

Visy staff to don pink high-vis vests and only respond to bosses with Robin Williams catchphrase to show management they mean business

The Guardian - AU

Asian stocks follow Wall St lower as rate hike worries grow

Asian stocks have followed Wall Street lower as fears spread that U.S. interest rate hikes to fight inflation might stall economic growth

The Independent UK

Friday briefing: Mixed picture can’t obscure local anger with Boris Johnson

In this morning’s newsletter: Archie Bland reports from Sunderland on a night when Tory support collapsed in the local elections, but Labour failed to inspire

The Guardian - UK

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Real wages to fall by 3% this year as inflation surges, says RBA

Australians’ wages are tipped to grow over the next two years, but are not predicted to catch up with rising prices until 2024

The Guardian - AU

US hiring was likely strong again in April despite inflation

For the past year, America’s job market has run like a well-engineered machine, adding an impressive average of 540,000 workers a month despite a punishing inflation rate, Russia’s ruinous war against Ukraine, a still-risky pandemic, jittery financial markets and the prospect of much higher borrowing costs

The Independent UK

We can't wait for Johnson to go

It is simply the case that Scots can no longer afford to have Boris Johnson in charge of the country for a moment longer.

Daily Record

Modest fee increases tipped for SA budget

The South Australian government says it will keep fee increases in the upcoming budget to well below inflation.

AAP

Bitcoin, Ethereum, Dogecoin Plunge: More Pain Ahead Or Will 'FUD Like This' Cause A Crypto Spike Soon?

Bitcoin and other major coins tumbled Thursday evening as the global cryptocurrency market cap dropped 7.2% to $1.7 trillion at press time.

Benzinga

What the papers say – May 6

The papers are led by the UK’s highest inflation figures in 40 years as voters went to the polls in local elections.

The Independent UK

Three graphs that show UK’s looming economic turmoil

Millions face unprecedented spike in energy bills and second-biggest fall in living standards since records began

The Independent UK

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Benzinga

Why Bitcoin, Ethereum And Dogecoin Were Volatile Today

ABC News

$57 billion wiped from Australian market, Wall Street rout as Dow plunges 1,000 points, Nasdaq loses 5pc

The ASX plunges by nearly $60 billion after Wall Street stocks plummet, as investors worry about the need for larger interest rate increases to stem inflation, while the Bank of England raises rates for a fourth time.

Tribune News Service

Wall Street staggers with ‘vicious’ $1.3 trillion stock selloff

A day after celebrating the Federal Reserve’s signal that it wouldn’t be making any jumbo-sized moves, traders woke up on Thursday deciding that the central bank will struggle to fight high inflation amid the lingering threat of a recession.

Glasgow Live

Glasgow jobs at risk as McColl's teeters on brink of collapse

The retailer has been in discussions with potential lenders to shore up the business, which struggled badly during the pandemic due to supply chain issues, inflation and a heavy debt burden.

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Tribune News Service

Stellantis revenues rise even as shipments slide from chip shortage

The maker of Jeep SUVs and Ram pickup trucks on Thursday said its revenues increased 12% year-over-year in the first three months of 2022 even as shipments dropped by the same percentage from lost production resulting from parts shortages.

Daily Mirror

All you need to know about 1% base rate and how it will hit your pocket

From mortgages to savings, we look at what the latest Bank of England forecast means for you and your finances. Already sky-high energy bills are set to soar even more

Daily Mirror

Cost of living now bleakest since the 1980s - yet still no help for families

Households around the country are facing a cost of living crisis as inflation and energy bills continue to go up, but Boris Johnson and Rishi Sunak are not helping people

StockNews.com

Buy the Dip in These 2 REITs That Yield More Than 4%

Since growing concerns over high inflation and aggressive interest rate hikes could keep the overall stock market highly volatile in the near term, REITs National Retail Properties (NNN) and Ladder Capital (LADR) could be solid bets because of their steady dividend payouts. These two stocks have declined lately but hold…

The Guardian - US

US stocks see worst day this year as Fed rate hike rattles investors

Dow falls 3.1% a day after the Fed chair announces biggest hike in two decades to combat inflation

The Conversation

The multiverse is huge in pop culture right now – but what is it, and does it really exist?

Whether you need a new villain or an old Spider-Man, your sci-fi movie will sound more scientifically respectable if you use the word multiverse. The Marvel multiverse puts different versions of our universe “out there”, somewhere. In these films, with the right blend of technology, magic, and imagination, travel between…

Tribune News Service

Abortion now front and center in some Democrats' senatorial campaigns

WASHINGTON — Democrats most at risk of losing their Senate seats in November’s U.S. election have jumped on abortion rights to shift the political narrative away from inflation and win back voters disappointed by President Joe Biden’s handling of the economy.

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