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The Latest Breaking News from Recession

Scoop: Dems told to say debt ceiling bill rejects GOP's "extreme demands"

"House Democrats are working responsibly to avoid a devastating default on our debt[.] Extreme MAGA Republicans are recklessly threatening a job-killing recession[.]"

Axios

'Our Chancellor looks relaxed as higher interest rates push Britain into recession'

Kevin Maguire writes that Jeremy Hunt is relaxed about plunging Britain into recession - no wonder Labour and Keir Starmer are enjoying healthy double-digit poll leads

Daily Mirror

The Fallacy of the Bullish Argument

40 year investment veteran Steve Reitmeister does not buy the bullish argument that is gaining speed as the S&P 500 (SPY) closes above 4,200. In fact, he says the set up for a serious correction and thus warns investors not to get SUCKED into this rally as the rug is…

StockNews.com

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Top economist David Rosenberg says we're already in a recession, but 'nobody has noticed'

Experts widely predicted a recession, but Rosenberg says we're already in one—we just haven't been looking at the right data.

Fortune

Rishi Sunak warned over possible UK recession in 2024

High inflation likely to push interest rates above 5% and force up mortgage and loan payments just ahead of election

The Guardian - UK

Europe's largest economy has been in a recession for 6 months and nobody noticed

While the German stock exchange was busy reaching new all-time highs, consumers faced with high inflation went on strike, crippling the economy.

Fortune

UK's Treasury chief accepts that recession may be necessary to get inflation down

Britain’s Treasury chief says he would be prepared to see the British economy slip back into recession if further interest rate hikes are necessary to bring down inflation

The Independent UK

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Tory Jeremy Hunt backs interest hikes pain for Brits - even if it risks recession

The Bank of England has hiked interest rates repeatedly to tackle inflation - in a hit to mortgage payers - and experts have warned they could raise them higher than the current 4.5% next month

Daily Mirror

Hunt will back more interest rate rises even if they push UK to recession

Chancellor will back Bank of England’s decisions because ‘inflation is a source of instability’

The Guardian - UK

Chancellor backs interest rate hikes even if they push UK into recession

Chancellor Jeremy Hunt has backed interest rate hikes being used to calm soaring inflation even if they increase the risk of pushing the UK into…

The National (Scotland)

Jeremy Hunt backs interest rate hikes even if they cause recession; UK retail sales jump – as it happened

Chancellor says “only path to sustainable growth” is to bring down high prices behind cost of living crisis, as mortgage rates climb

The Guardian - UK

Jeremy Hunt ‘comfortable’ with recession if needed to cut inflation and stabilise economy

There are fears the bank’s Monetary Policy Committee may have to raise interest rates to as high as 5.5 per cent to tackle inflation

Evening Standard

The falling price of copper is trying to tell us something about a recession

Analysts call it “Dr. Copper” because it often provides a diagnosis for the upcoming recession. The patient isn’t feeling great.

Fortune

Electronics retailer Best Buy still weathering profit falls and sales dips

The recession for electronics continued this spring as Best Buy reported same-store sales dropped a little more than 10% from last year.

Tribune News Service

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WEKU

Germany's economy contracts, signaling a recession

The German economy shrank unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession. High inflation hit consumer spending.

The Independent UK

Germany economy shrinks in first quarter, signaling one definition of recession

The German economy has shrunk unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession

France 24

DeSantis's troubled Twitter campaign launch underlines issues since Musk takeover

Technical malfunctions have marred Florida Governor Ron DeSantis's announcement that he's running for US president. The hyped Twitter Spaces appearance was 20 minutes late in starting, repeatedly lost sound and many users said they had trouble logging in. Since Elon Musk took the reins, Twitter has struggled with a myriad…

The Independent UK

Stock market today: World shares decline on worries over US debt; Germany slips into recession

Shares are mostly lower in Europe and Asia as investors watch for signs of progress on a deal to avert a default on U.S. government debt

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WEKU

3 ways to protect your money if the U.S. defaults on its debt

From social security payments to interest rates, a lot hinges on a debt-ceiling deal. Personal finance experts say you should prepare for a possible debt default as you would a recession.

The Guardian - UK

‘We don’t do deep emotional discussions’: why men lose their friends – and how they can make more

A quarter of British men say they have no close mates. But even in middle age, where the ‘friendship recession’ hits hardest, it’s possible to buck the trend

The Guardian - UK

German economy in recession after high prices take toll, revised figures reveal

Updated data shows economy went into reverse in first quarter with GDP falling by 0.3%

Evening Standard

FTSE 100 Live: Gilt yields approach mini-Budget level; City sees 5.5% interest rates; FTSE closes down 0.7%

Germany’s slide into recession added to pressure on European markets today as the FTSE 100 index endured another session in the red.

The Times of India

German economy goes into recession as GDP shrinks by 0.3% in Q1

BERLIN: The German economy contracted in the first quarter of 2023 compared with the previous three months, thereby entering recession, data from the statistics office showed on Thursday.

StockNews.com

Is Snap Inc. (SNAP) a Buy?

Shares of Snap (SNAP), the social media darling of Gen Z, have taken a hit as the company is struggling with its widening losses amid the pullback in advertising spend. So, with a recession likely coming this year, is SNAP worth owning? Let’s try to gauge SNAP’s prospects by analyzing…

Fortune

The most predicted recession ever maybe won’t happen. Get ready for the ‘asset class recession’

An asset class recession would hit at a uniquely vulnerable time, as the share of Americans invested in stocks hasn’t been so high since the Great Financial Crisis.

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