Page 3 - Latest Updates on Recession
Germany's GDP shrinks by 0.3% in first quarter, puts economy into recession
New figures show the German economy suffered an unexpected dip in the first quarter of this year, putting the country formally into recession
 "Germany's GDP shrinks by 0.3% in first quarter, puts economy into recession")
US AAA credit rating may be downgraded by Fitch on debt-limit impasse
Economists project a US default could trigger a recession, with widespread job losses and a surge in borrowing costs
 "US AAA credit rating may be downgraded by Fitch on debt-limit impasse")
As global recession looms, China unlikely to rescue economy again: Report
As rest of world teeters on the brink of recession, last thing Western policymakers want is for China, biggest driver of global economic growth since 2008 financial crisis, to have a lopsided recovery
 "As global recession looms, China unlikely to rescue economy again: Report")
Equities rebound on easing recession worries; HDFC twins back in green
Financial stocks gain most as Sensex, Nifty50 rise over 1%
 "Equities rebound on easing recession worries; HDFC twins back in green")
Emerging economies must step up to fix global challenges: FM Sitharaman
She was speaking with the members of the Indian diaspora in Seoul, South Korea, on the sidelines of the annual meeting of the Asian Development Bank
 "Emerging economies must step up to fix global challenges: FM Sitharaman")
Global markets turn cautious again amid concerns of banking crisis
Global economy was once again beginning to stare at the possibility of economic slowdown as fears re-emerged over the possibility of economic recession in the US owing to another banking crisis
 "Global markets turn cautious again amid concerns of banking crisis")
India asks for cooperation among SCO members to deal with global challenges
India endeavours to raise some very pertinent global issues through this forum, he said, adding, Prime Minister Modi has said-Sustainability requires coordinated action for the global commons
 "India asks for cooperation among SCO members to deal with global challenges")
US consumer confidence falls to 9-month low in April amid recession fears
The Conference Board said its consumer confidence index fell to 101.3 - the lowest since July 2022 - from a revised 104.0 in March
 "US consumer confidence falls to 9-month low in April amid recession fears")
General Electric raises profit outlook despite growing risks of recession
CEO Larry Culp told Reuters that GE's businesses had not seen any loss in momentum despite growing risks of an economic recession as soon as the second half of the year
 "General Electric raises profit outlook despite growing risks of recession")
Deal activity declines 35% to $9.7 bn in March 2023 quarter: Report
The main reason for the poor show was the tepid IPO market, which plunged to USD 84.4 million from USD 1 billion in Q1 of 2022
 "Deal activity declines 35% to $9.7 bn in March 2023 quarter: Report")
Banking crisis has increased odds of recession, says JPMorgan's Jamie Dimon
The government shouldn't overreact to the banking crisis by imposing more rules on the industry, Dimon said
 "Banking crisis has increased odds of recession, says JPMorgan's Jamie Dimon")
Potential US recession signal sets off global rush into Indonesian bonds
With the US and Indonesian central banks seen approaching the end of their respective hiking cycles, inflows looking for higher carry returns are likely to keep increasing in the second quarter
 "Potential US recession signal sets off global rush into Indonesian bonds")
If layoffs accelerate in next few months, a recession 'will be underway'
One of the best indicators of an impending recession is the inverted yield curve, particularly the difference between the 10-year Treasury note and the three-month T-bill
 "If layoffs accelerate in next few months, a recession 'will be underway'")
Storm clouds of food inflation, recession continue this year: Nestle CMD
Nestle India has a comprehensive process of commodity procurement and business-continuity measures towards meeting exigencies
 "Storm clouds of food inflation, recession continue this year: Nestle CMD")
UK Treasury chief Jeremy Hunt predicts 'no recession' in Britain this year
UK Treasury chief Jeremy Hunt has predicted the country will not enter technical recession this year
 "UK Treasury chief Jeremy Hunt predicts 'no recession' in Britain this year")
Widening deficit: Worries persist over FY24 current account balance
CAD may be better than expected in FY23, but India won't be completely out of the woods next year, says official
 "Widening deficit: Worries persist over FY24 current account balance")
Bosch's India unit reports 36% jump in profits, warns of "challenging 2023"
Bosch Ltd, the Indian unit of German automotive supplier Bosch, on Tuesday warned of a "challenging 2023" amid growing fears of recession, after reporting a 36% jump in third-quarter profit.
 "Bosch's India unit reports 36% jump in profits, warns of \"challenging 2023\"")
Our capex increase accounts for global slowdown: Finance secy TV Somanathan
"The government's welfare schemes are quite large, comprehensive, well spread and the emphasis is on implementation rather than on budget provisions"
 "Our capex increase accounts for global slowdown: Finance secy TV Somanathan")
Firms expect layoffs, cut down in expansions in 2023 amid recession fears
The survey shows that business owners are still concerned that the Fed's decision-making could push too hard on the economy and potentially put the US into a recession this year
 "Firms expect layoffs, cut down in expansions in 2023 amid recession fears")
Wall Street opens lower; US may be heading for a painful recession
Futures for the Dow Jones Industrial Average and the S&P 500 slid 0.8% before the opening bell
 "Wall Street opens lower; US may be heading for a painful recession")
