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The Latest Breaking News from Recession

Crude oil prices could hit $200 per barrel if Strait of Hormuz remains closed: Report

A prolonged closure of the Strait of Hormuz could push crude oil prices to as high as $200 per barrel and trigger a global recession, according to a Wood Mackenzie report.

The Economic Times

The big bill split: Why being polite – and your mate’s cocktail – is costing you £240 a year

LET’S UNPACK THAT: One in three Brits regularly overpay on shared bills and are losing hundreds of pounds a year in the process. As a potential recession looms, Lydia Spencer-Elliott looks into when it’s worth pushing back on settling up

The Independent UK

Hormuz closure threatens recession rivaling 2008, Rapidan Energy Group says

Rapidan Energy Group warns that if the Strait of Hormuz remains closed through August, the world economy could face a downturn approaching the severity of the 2008 financial crisis.

The Economic Times

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Iran war squeezes Europe’s economy as growth slumps, prices surge

Europe’s economy is slowing sharply as the Iran war drives up energy costs, deepening pressure on households and challenging policy makers. Fresh data for May showed euro zone business activity contracted at its fastest pace in more than two years while inflation pressures intensified, raising fears of a prolonged cost-of-living…

France 24

Recession warning? Eurozone activity hits lowest level in over two and a half years due to Iran war

Business activity across the eurozone slowed sharply in May, hitting its lowest level in more than two and a half years.

Euronews

Super-rich NRI who called himself 'recession-proof' in 2008 sent to jail: His New Jersey mansion had salt water pool surrounded by imported sand

Parmjit “Paul” Parmar, an Indian-origin investor who once called himself recession-proof as he continued splurging money in 2008, has been sentenced to five years in prison. Parmar pleaded guilty to conspiracy to commit securities fraud that involved inflating revenues, falsifying bank records, and misleading investors in a publicly traded healthcare…

The Times of India

Top economist says $39 trillion national debt leaves government worse prepared for recession than ever

The Fed’s hands would be tied in the case of a downturn.

Fortune

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Reading the Stripes: Is The Industrial Recession Over?

Zebra Technologies' strong earnings and raised guidance signal a turning point for the industrial sector as supply chain hardware spending resumes.

MarketBeat

US faces ‘reading recession’ as school test scores continue to decline

Between 2022 and 2025, only five states and the District of Columbia had meaningful growth in reading scores

The Independent UK

Is the biggest US stock market crash in history coming in 2026? Robert Kiyosaki warns rising debt, sticky inflation and the AI stock bubble could trigger a historic Wall Street collapse

Is the biggest US stock market crash in history coming in 2026 as Dow Jones, S&P 500 and Nasdaq face rising inflation, oil shock and recession fears? Robert Kiyosaki stock market crash 2026 warning is shaking global investors. He says markets may face the biggest crash in history as debt…

The Economic Times

Get ready for a budget slowdown. But Chalmers insists we won’t see a recession

Treasurer Jim Chalmers has called his budget “ambitious in the face of adversity”.

The Conversation

Bleak outlook for national economy if Iran war drags on

Higher budget spending won't help the Reserve Bank, economists warn, as a prolonged war in the Middle East is forecast to push inflation above seven per cent.

AAP

Recession Indicator: eBay's Stock Is Up More Than 50% Over the Past Year

eBay is providing investors with a counter-cyclical recession hedge this year, as gross merchandise volume growth has driven a 26% gain for the stock in 2026.

MarketBeat

End of conflict in the Middle East or recession in Europe, IMF warns

The IMF’s outlook for Europe remains closely tied to geopolitical developments. A prolonged crisis risks tipping Europe into recession.

Euronews

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Euronews

Romania's pro-EU coalition collapses after prime minister fails no-confidence vote

Romania has faced a long period of instability and the country is grappling with one of the highest budget deficits in the EU, rampant inflation and a technical recession.

The Independent UK

12 simple ways to recession-proof your life as a financial crisis looms

IN FOCUS : With prices rocketing and a quarter of a million people set to lose their jobs by 2027, Lydia Spencer-Elliott seeks expert advice on how we can best prepare for the difficult times ahead

Euronews

Irish economic miracle explained: Why all that glitters isn't gold

Ireland's GDP soared 12.3% in 2025 — but it was a mirage. Pharma multinationals front-loaded €25.4bn of exports to the US in March alone, ahead of Trump's tariffs. Now the first quarter of 2026 sees a contraction.

Fortune

The global economy has a month—eight weeks at most—to avoid a recession, warns top economist

“The irony in all this is that the U.S., which started the war, does better in relative terms than anybody else because of its energy supplies.”

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International Business Times UK

Iran War Shock Leaves UK Policymakers Trapped Between Inflation and Recession Risks

The UK economy is threatened by a £35bn loss due to rising energy prices from the Iran conflict, risking recession and high inflation, warns NIESR.

The Independent UK

UK economy faces £35bn blow and recession risk amid Iran war energy crisis

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The Guardian - UK

UK faces £35bn hit and risk of recession this year over impact of Iran war, thinktank warns

Niesr says even under best-case scenario, economy would grow at slower pace in 2026 and 2027 because of conflict

Evening Standard

UK economy set for £35bn hit from Middle East energy crisis, think tank says

The National Institute of Economic and Social Research said the UK could enter a recession this year if the crisis is particularly protracted.

The Independent UK

More Americans fear for their economic situation today than in the 2008 Great Recession

More Americans are worried about finances now than in early days of pandemic

The Guardian - AU

Feeling gloomy about the economy? The ‘vibecession’ has arrived in Australia – but experts are less worried

A poll shows most Australians think the country is either in a recession or will be soon. Economists have a different view

Euronews

Iran war effects on Europe: Is a recession already unfolding?

The eurozone’s private sector slipped back into contraction in April, marking its weakest performance in nearly a year and a half since November 2024, as the war in Iran hit services and fuelled inflation.

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