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The Latest Breaking News from Recession

Treasurer Jim Chalmers plays down recession fears on Q+A as energy costs and inflation continue to rise

Treasurer Jim Chalmers tells ABC's Q+A that he intends to tackle the rising cost of power prices by Christmas as he defends the budget and plays down the fears of Australians about a recession.

ABC News

UK is heading for longest recession in a century, Bank of England warns

The Bank of England issued a gloomy warning about the future of the British economy as it hiked interest rates to 3%, the biggest single rate rise in three decades

Daily Mirror

Pound falls after Bank of England hikes interest rates

Sterling drops 1.4% against US dollar after decision-makers warn of longest recession on record

The Independent UK

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UK headed for longest recession in century, says Bank of England

Recession could last well into 2024, says central bank as interest rates hiked

The Independent UK

UK could be facing longest recession since records began as interest rates go up

Homeowners are set to face the biggest single shock on their mortgage bills since the 1980s as the Bank of England hiked interest rates for the eighth time in a row. The Bank’s base rate will rise to 3% from 2.25%, its highest for 14 years

Wales Online

Interest rate rises again as Bank of England warns of longest recession on record

INTEREST rates have risen to 3 per cent as the Bank of England announced the biggest hike for three decades.

The National (Scotland)

Bank of England confirms biggest interest rate hike since 1980s

The UK could be facing the longest period of recession since reliable records began

The Independent UK

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Bank of England raises interest rates to 3%

Central bank also warns that the UK could be on course for its longest recession since reliable records began a century ago

Insider UK

Interest rates up to 3% as Bank of England bids to tackle cost of living crisis and warns of long recession

Rise from 2.25% to 3% had been widely expected and is biggest since 1980s

Birmingham Post

Why Bank of America CEO Brian Moynihan is not so stressed about recession

"We are in pretty good shape. Recession predicted. Those things will collide.”

Fortune

Fisher: China’s Economy Can Weather a Global Recession — if One Even Hits

History shows Chinese growth can persist despite pockets of weakness and recession elsewhere

Caixin Global

Asia stocks fall after Fed says more US rate hikes likely

Asian stock markets have sunk after the Federal Reserve added to fears of a possible recession by saying it wasn’t finished raising U.S. interest rates to cool inflation

The Independent UK

Fed faces twin threats of recession and financial crisis as its inflation fight raises risks of both

There is wide agreement among economists and market observers that the Federal Reserve’s aggressive interest rate hikes will cause economic growth to grind to a halt, leading to a recession. Less talked about is the risk of a financial crisis as the U.S. central bank simultaneously tries to shrink its…

The Conversation

Alan Kohler: Economists disagree on where interest rates are heading – shock

It’s hard to recall a time when the interest rate forecasts of economists were as widely, and wildly, different as they are now.

The New Daily

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Benzinga

When Small Businesses Can't Pay Their Rent, Can A Recession Be Far Behind?

Another huge harbinger of an impending recession is happening in the commercial real estate leased to small businesses. According to an October analysis from the Alignable Research Center, small-business owners are not paying their rent — in droves.

The Independent UK

How steep fed rate hikes affect your finances

Mortgage rates continue to jump, home sales slump and credit cards and auto loans increase

Evening Standard

Maersk warns of ‘dark clouds on the horizon’ as it cuts demand forecast amid growing recession fears

The firm said vacancy rates for warehousing fell to near-historic lows, as businesses scrambled for extra storage space to hold their swelling inventory levels after a drop-off in consumer demand

Benzinga

Here's What Billionaire Investor Leon Cooperman Is Buying As He Anticipates A Recession In 2023

Although the fourth quarter is a historically strong period for the markets, Omega Advisors chairman and CEO Leon Cooperman remained wary.

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Benzinga

How The 60/40 Portfolio Stacks Up With The S&P 500

A portfolio consisting of 60% stocks and 40% bonds had a golden age from the 1980s — until recently.The combination offers investors risk-adjusted returns that are frequently on par with, or greater to, those of the benchmark SP 500 Index.The 60/40 portfolio faced significant challenges this year due to ongoing…

StockNews.com

2 Stocks You May Want to Consider Selling Before 2023

As the Fed battles sky-high inflation with aggressive rate hikes, the market is fuming with recessionary concerns. Moreover, consumer confidence has been declining amid the slowdown in the global economy. Thus, it could be wise to steer clear of fundamentally weak stocks Marvell Technology (MRVL) and ContextLogic (WISH). Read more.

The Guardian - UK

UK manufacturing faces deep recession as output slumps

Factory output likely to fall further as consumers’ real incomes are hit by inflation, economists say

Tribune News Service

General Mills CEO: 'Brands need to stand for something'

At the end of the last decade, General Mills and its competitors were fighting for every penny as many consumers abandoned legacy packaged food brands.

StockNews.com

The 4 Best Stocks to Buy for the Rest of 2022

Since the sky-high inflation persisted in September, the Fed is expected to launch another 75-basis-point rate hike this week. The stock market has been under pressure this year as investors remained anxious about the possibility of a recession. However, some fundamentally strong stocks, such as Altria Group (MO), Cummins (CMI),…

The Times of India

India: Higher oil prices would backfire on producers

NEW DELHI: India’s oil minister said higher crude prices would only serve to accelerate the transition to cleaner energy and worsen any global recession.

Tribune News Service

Democrats prepare for loss of Congress as voters break late to GOP

Democrats’ prospects for holding onto Congress are fading a week before the U.S. election as voters focus on economic concerns rather than the rollback of abortion rights, bolstering Republicans who have made inflation a central issue in the race.

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