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The Latest Breaking News from Inflation

Inflation crushes Target's profit, shares plunge 25%

Inflation smacked Target Corp. over the past three months, leading to a profit drop that surprised investors and triggered a huge selloff of its stock.

Tribune News Service

After prospering in the pandemic, Target is now a symbol of inflation's impact

Target Corp., whose growth in the pandemic pushed its stock to record heights, on Wednesday became a symbol of inflation's toll on the American economy.

Tribune News Service

Tory MPs vote down emergency budget plan despite Britain's cost of living crisis

Shadow Chancellor Rachel Reeves asked "where is the urgency" as Conservatives rejected a Labour attempt to force an emergency budget and a Lib Dem bid for fresh tax cuts

Daily Mirror

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Pub firms were lockdown losers but can adapt to tough trading conditions

It’s possible much of current uncertainty is already priced in to recovery of well-run companies like M&B and Marston’s

The Guardian - UK

UN Drops Forecast for Global Economic Growth in 2022 to 3.1%

The United Nations on Wednesday significantly lowered its forecast for global economic growth this year from 4% to 3.1%, saying the war in Ukraine has triggered increasing global food and commodity prices and exacerbated inflationary pressures, upending the fragile recovery from the COVID-19 pandemic. The mid-2022 forecast from the UN…

Asharq Al-Awsat

The Guardian view on fixing inflation: a reckoning with free markets is needed

Editorial: Tories say taxes must fall to curb inflation, even at the cost of a higher deficit. Labour should argue that public spending could be increased for the same reason

The Guardian - UK

Jobless rate holds at 3.9 pct in April

The unemployment rate remained at 3.9 per cent in April after the Australian Bureau of Statistics downwardly revised the March result from four per cent.

AAP

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Australian wages in real terms are essentially no different from where they were in 2013

Low wages growth, inflation, price rises and jobseeker are combining to put talk of a strong recovery from the pandemic into context

The Guardian - AU

Shrinkflation bites: popular food brands quietly downsize while charging same price or more

Inflationary pressures have put the squeeze on manufacturers who are finding ways to pass on costs to consumers, Choice says

The Guardian - AU

Biden's burdens grow: Sagging global economy adds to US woes

President Joe Biden embarks for Asia on Thursday facing a new risk for the economy at home: a global economic slowdown caused by Russia’s invasion of Ukraine and the pandemic shutting down Chinese cities and factories

The Independent UK

Chile's congress approves minimum wage hike

Chile's congress voted to approve an increase in the minimum wage on Wednesday as the Andean country struggles with soaring inflation.

Reuters

The real counter to the supermarket duopoly would be a strong competitor

The Government has mused about a more proactive response to the lack of competition, including a government-run distribution centre, but that would be foolhardy, argues Peter Dunne

Newsroom.co.nz

3 Commodity ETFs to Protect Your Portfolio from Stagflation

The U.S. economy is facing significant stagflation risks due to raging inflation, ongoing geopolitical crisis, and an economic slowdown. However, amid rising commodity prices, commodity funds serve as solid hedges against inflationary pressures. So, we think commodity ETFs iShares S&P GSCI (GSG), First Trust Global Tactical (FTGC), and KraneShares (KRBN)…

StockNews.com

Flower sales power on for JZ but margins squeeze as inflation bites

Turnover up 33 per cent to £155.3 million for East Yorkshire specialist supplier to major retailers

Birmingham Post

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The Guardian - UK

Why does the UK have the highest inflation in the G7?

Analysis: UK among hardest-hit countries thanks to perfect storm of war in Ukraine, Covid and Brexit

Chronicle Live

Families could get £600 warm home grant as Government tries to tackle cost of living crisis

Reports suggest Chancellor Rishi Sunak is drawing up details of a one-off payment

Benzinga

Mid-Day Market Update: Dow Tumbles Over 800 Points; DLocal Shares Surge

U.S. stocks traded lower midway through trading, with the Dow Jones dropping more than 800 points on Wednesday.

The Guardian - UK

World Bank pledges $12bn to support low-income countries hit by shortages

Move follows warning from head of UN World Food Programme about high prices leading to social unrest

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The Guardian - UK

Officers should use discretion over stealing to eat, says police watchdog

New chief inspector of constabulary says crimes of poverty should be ‘dealt with in the best way possible’

The Guardian - UK

Rishi Sunak vows to cut taxes for business to tackle cost of living crisis

Chancellor to urge investment in innovation at CBI speech as UK inflation soars to 9%

Manchester Evening News

'They're already ridiculous' - Parents blast warning that school meals could get smaller

School caterers are said to be considering shrinking portion sizes or using cheaper ingredients amid the cost of living crisis

The Times of India

India better placed to face global challenges and uncertainties: CEA

NEW DELHI: Chief economic adviser (CEA) V Anantha Nageswaran on Wednesday said amid global uncertainties caused by the ongoing Russia-Ukraine war, India is still better placed among the large economies because of an improved financial system and a robust corporate health.

Roll Call

Senate to test waters on money for restaurants, small businesses - Roll Call

The proposal includes $40 billion to backfill the so-called Restaurant Revitalization Fund for applicants who didn't receive any grant money.

Evening Standard

Benefits ‘cut’ leaves London families facing a squeeze

Research shows family of four could be £90 out of pocket as inflation outpaces rise in Government support

Chronicle Live

People are 'at breaking point' as UK inflation hits 40-year high, North East foodbank claims

North East foodbanks react as UK inflation jumped to 9% in the 12 months to April, up from 7% in March - the fastest rate for 40 years

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