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UNBELIEVABLE: 45 - The Untold Story

Risk of recession rises as UK economy shrinks in August

THE risk of a recession has risen after the UK’s economy shrank in August as factories and consumer services firms struggled, according to…

The National (Scotland)

Jacob Rees-Mogg claims parts of economy in ‘good state’ and insists pensions safe

Cabinet minister clashes with BBC host – and reveals his own mortgage payments have gone up

The Independent UK

UK economy unexpectedly shrinks

The Chancellor has blamed Vladimir Putin

Wales Online

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UK economy shrank in August raising new fears of imminent recession

The economy shrank by 0.3 per cent in August raising new fears of an imminent recession.

Evening Standard

Biden says "slight recession" possible, "but I don't anticipate it"

"I don't think there will be a recession," he told CNN. "If it is ... we'll move down slightly."

Axios

Joe Biden admits 'very slight' US recession possibility

WASHINGTON: President Joe Biden said a recession in the US is possible but that any downturn would be “very slight” and that the US economy is resilient enough to ride out the turbulence.

The Times of India

The global recovery winds down

The post-Covid recovery has run out of steam. The latest update to the Brookings-Financial Times Tracking Indexes for the Global Economic Recovery (Tiger) shows that growth momentum, as well as financial market and confidence indicators, have deteriorated markedly around the world in recent months, many countries are either in or…

Bangkok Post

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Neutral cash rate 'guide' for reserve bank

Getting the cash rate back to neutral is more about the journey than the destination and the Reserve will be guided by changing economic conditions.

AAP

Australia predicted to avoid worst of downturn as IMF warns of global recession

Revenue boost will aid budget repair as ‘storm clouds’ loom over economy, Deloitte predicts

The Guardian - AU

Academics call for furlough scheme to be brought back right now

Businesses need strategy to help them reduce costs, but also need to be able to quickly ramp up their operations

Wales Online

Lowest jobless tally since 1974 adds rate pressure on Bank of England

Unemployment dropped from 3.6% to 3.5% in the three months to August

Evening Standard

Government needs £60bn public spending cuts to tax giveaway

Institute for Fiscal Studies says it is not possible to deliver cuts on that scale through efficiency savings

Wales Online

Commentary: The government is actually doing a good job

You wouldn’t know it from watching the news, but American children are doing better than they were at the beginning of the COVID-19 pandemic, at least when it comes to having their basic needs met.

Tribune News Service

UN: 54 Poor Nations Urgently Need Debt Relief

Cascading global crises have left 54 countries -- home to more than half of the world's poorest people -- in dire need of debt relief, the UN said Tuesday. In a new report, the United Nations Development Program warned that dozens of developing nations were facing a rapidly deepening debt…

Asharq Al-Awsat

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The Guardian - AU

Treasurer says Australia likely to avoid recession but admits global economy is ‘dangerous’

Jim Chalmers says spiralling energy costs the most ‘problematic aspect of our inflation problem’ through to mid-2023

The Independent UK

Kwarteng faces finding £60bn of public spending cuts, says IFS

The Institute for Fiscal Studies said efficiency savings and ‘trimming the fat’ will not be enough to get debt falling.

Bangkok Post

Recession fears deepen in Thailand

State agencies, businesses and households are being urged to brace for a global economic slowdown which could easily deteriorate into a recession next year.

The Guardian - UK

Give parents a real choice on childcare

Letter: Anne Fennell from Mothers at Home Matter says funds should also be available for those who want to stay home with their children

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The Guardian - UK

Liz Truss dreams of growth – but even if she pulls it off, it won’t help Britain

Incomes have stalled while the rich get richer. It’s clear the obsession with GDP has to change, says the University of Sheffield’s Michael Jacobs

StockNews.com

2 Stocks with Plenty of Room to Get Bigger

With another solid employment report for September undermining the Fed’s persistent efforts to fight inflation, the borrowing costs are expected to increase further with another significant rate hike next month. However, businesses with enough scope for further market penetration are better placed to endure near-term macro headwinds. It could be…

Evening Standard

Treasury brings forward next tax update to Halloween alongside OBR forecasts

Confirmation of the date comes as the Bank of England also seeks to reassure markets on its intervention in UK debt market

The Independent UK

Biden preaches patience to voters spooked by economic tumult

When it comes to reassuring Americans about an economy that's an election-year challenge to his party, President Joe Biden is telling the country to hold on

The Guardian - US

Don’t be fooled: policymakers are quietly invoking austerity by other names

Framing monetary policy as a war effort has been part of the playbook for instituting austerity policies for over a century

Bangkok Post

The US inflation bonanza for sovereign debtors

As developing countries confront a new era of elevated inflation, rising interest rates, a stronger dollar, and capital outflows, some governments stand to benefit from a little-noticed bonanza. During the "Great Moderation" that preceded the Covid-19 pandemic, years of low inflation led to the growth of sovereign debt issued at…

Bangkok Post

Avoid stocks negatively affected by rate hikes

We expect the SET Index to continue to be volatile given the higher global recession risk, as many central banks are expected to keep raising interest rates to fight inflation. Adding to the negative factors, the US dollar continues to strengthen against other currencies and the prolonged Russia-Ukraine war has…

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