Page 11 - Latest Updates on Recession
Oil prices fall 3% on recession fears; China factory data disappoints
Brent crude futures for October, due to expire on Wednesday, were down $3.56 at $95.75 a barrel following Tuesday's $5.78 loss
 "Oil prices fall 3% on recession fears; China factory data disappoints")
Buy commodities, worry about recession later, says Goldman Sachs
Goldman Sachs did caution the path ahead may not be smooth, especially if the greenback extends gains
 "Buy commodities, worry about recession later, says Goldman Sachs")
World stocks and bonds slump; US dollar hot as rate fever takes hold
World stocks slumped as the growing risk of more aggressive interest rate hikes in the US and Europe inflicted fresh pain on bond markets and pushed the dollar to new 20-year highs
 "World stocks and bonds slump; US dollar hot as rate fever takes hold")
Foreigners return to Indian equities on hopes of stronger earnings
According to stock exchange data, foreigners have invested $6.4 billion in Indian equities since the start of July, after dumping over $27 billion-worth over the previous six months.
 "Foreigners return to Indian equities on hopes of stronger earnings")
Euro slumps to two-decade lows against dollar as energy crisis bites
China's yuan weakened to a two-year low, while sterling briefly touched its weakest since March 2020.
 "Euro slumps to two-decade lows against dollar as energy crisis bites")
Germany leads as Europe slides towards recession amid supply shortages
Purchasing managers' indexes due Tuesday will likely show private-sector output shrinking for a second month, adding to signs that a recession in the 19-nation euro zone is now more likely than not
 "Germany leads as Europe slides towards recession amid supply shortages")
Oil prices down 1.5% for the week on recession jitters, strong US dollar
Brent crude futures settled at $96.72 a barrel, gaining 13 cents. U.S. West Texas Intermediate crude ended 27 cents higher at $90.77. Both benchmarks fell about 1.5% on the week
 "Oil prices down 1.5% for the week on recession jitters, strong US dollar")
Oil slips to six-month low as fears over global recession weigh
Oil fell on Wednesday to a 6 month low after a brief respite as concerns about the prospect of recession that would weaken demand overshadowed a report showing lower US crude & gasoline stocks
 "Oil slips to six-month low as fears over global recession weigh")
Oil prices recover from 6-month lows following drop in US stockpiles
Oil prices rose, recovering from 6-month lows, as a larger-than-expected drop in US oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by recession prospects.
 "Oil prices recover from 6-month lows following drop in US stockpiles")
Saudi sovereign wealth fund buys $7-bn US stocks amid recession fears
The $620 billion Public Investment Fund also added to positions it held in Facebook Inc. owner Meta Platforms Inc., PayPal Holdings Inc. and Electronic Arts Inc. in the second quarter
 "Saudi sovereign wealth fund buys $7-bn US stocks amid recession fears")
Oil extends losses as weak demand outlook lingers global recession fear
Brent crude futures fell $1.21, or 1.3%, to $93.89 a barrel by 0635 GMT. WTI crude futures dipped 84 cents, or 0.9%, to $88.57 a barrel
 "Oil extends losses as weak demand outlook lingers global recession fear")
Dollar jumps on safety flows after China data, yuan slips on rate cut
The U.S. dollar index against six peers rose 0.6% to 106.3, consolidating near the middle of its range this month. The euro eased 0.6% against the dollar to $1.0191, after touching a one-week low.
 "Dollar jumps on safety flows after China data, yuan slips on rate cut")
With inflation at 8.9%, Europe bond rally at risk of complacent market
With the worst yet to come in Europe, strategists say policy makers may hike more aggressively than many expect, upending a bond rally that some say has gone too far
 "With inflation at 8.9%, Europe bond rally at risk of complacent market")
US stock markets tumble when hit by global recession, says report
The S&P500 had dropped to 3,667 on June 17 but has jumped 15 per cent in the past two months
 "US stock markets tumble when hit by global recession, says report")
UK economy shrinks in second quarter, sharpening recession fears
The statistics office said health spending was the biggest contributor to the fall, as the government scaled down coronavirus testing, contact tracing and vaccination programs.
 "UK economy shrinks in second quarter, sharpening recession fears")
Oil prices set for weekly climb, uncertain demand outlook cap gains
Brent crude futures were down 9 cents, or 0.1%, to $99.51 a barrel 0900 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 38 cents or 0.4% to $93.96 a barrel.
 "Oil prices set for weekly climb, uncertain demand outlook cap gains")
British economy contracts in last 3 months, stokes recession fears
The British economy contracted in the last three months, further stoking fears that a recession might be around the corner, new data revealed on Friday.
 "British economy contracts in last 3 months, stokes recession fears")
Japanese yen fell the most against a resurgent US dollar on Friday
The Japanese yen fell the most against a resurgent U.S. dollar on Friday, as a two-day rally in equities conceded to market expectations that the Fed will have to do a lot more to contain inflation.
 "Japanese yen fell the most against a resurgent US dollar on Friday")
As UK heads for recession, here's who could control finances in new govt
With the Bank of England predicting inflation topping 13% in the fall and a recession lasting through 2023, the next incumbent of 11 Downing Street will be under immediate pressure
 "As UK heads for recession, here's who could control finances in new govt")
Oil prices see-saw, settle on Russian pipeline constraints, recession fear
Crude prices have been under pressure for weeks as fears mounted that a recession could cut oil demand
 "Oil prices see-saw, settle on Russian pipeline constraints, recession fear")
