Page 10 - Recession

Wall Street extends declines on recession worries; Dow falls over 300 pts

Tech, consumer discretionary pare back gains; casino stocks jump as Macau allows tour groups after nearly 3 years

Energy, inflation crises risk pushing big economies into recession: OECD

In a bleak report titled Paying the price of war, the Paris-based organisation noted that the conflict aggravated inflationary pressure when the cost of living was already rising quickly.

Oil prices hit nine-month low on recession fears, US dollar surge

Brent crude futures for November settlement slipped by 82 cents, or 1%, to $85.33 a barrel at 1110 GMT. The contract fell as low as $84.51, the lowest since Jan 14

Energy crisis: Recession clouds gather in Germany, Europe's largest economy

Europe's largest economy is sending recession signals. Germany's key future indicator, the IFO survey of business confidence, pointed down for the fourth month in a row as high inflation fed by astronomical natural gas prices undermines consumer pricing power and imposes heavy costs on businesses. The index compiled by the Munich-based IFO institute dropped to 84.3 in September from 88.5 in August, to its lowest level since the global financial crisis more than a decade ago. High energy and commodity prices are weighing on demand and putting pressure on profit margins, said Carsten Brzeski, chief eurozone economist at ING bank. Companies can no longer pass through higher costs to consumers as easily as in the first months of the year. Company order books are shrinking, while businesses that use a lot of energy, such as bakeries, are facing costs that make them question whether they can stay in business. The news comes as more economists predict a recession for Europe as a ...

Sensex falls 954 pts, Nifty below 17,050 amid growth concerns; IT stocks up

Stock market live: At 07:50 am, SGX Nifty quoted at 17,230, indicating an opening loss of over 100-odd points on the Nifty

South Korean assets turn Asia's biggest losers on global recession angst

The Kospi index tumbled 3% to its lowest close in more than 2 years, leading declines in Asia. The won, by far the region's worst performer this quarter, slid to the weakest level since March 2009

Don't equate fun with money: Pichai tells staff in heated all-hands meet

He talked about the vexed issue of cost cuts, and indicated Google's culture could still be enjoyable, even if some things were taken away

Oil plunges to 8-months low on strong dollar, looming recession fears

Oil prices plunged about 5% to an eight-month low on Friday as the US dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession

Euro zone likely entering recession as price rises hit demand: Survey

Overall demand in the euro zone fell to its lowest since November 2020, when the continent was suffering a second wave of Covid-19 infections

Economist Roubini expects a 'long, ugly' recession, stocks sinking 40%

Roubini, who has warned through bull and bear markets that global debt levels will drag down stocks, said that achieving a 2% inflation rate without a hard landing is going to be "mission impossible"

Global stocks slide for third day on fears of possible global recession

Global stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession. London and Frankfurt opened lower. Shanghai, Hong Kong and Seoul declined. Oil prices fell by more than $1 per barrel. Japanese markets were closed for a holiday. Wall Street futures were lower following rate hikes Thursday by central banks in Britain, Switzerland, Turkey and the Philippines. The Fed hiked its key rate on Wednesday for a fifth time this year and indicated more rises were on the way. Global equities are struggling as the world anticipates surging rates will trigger a much sooner and possibly severe global recession, Edward Moya of Oanda said in a report. In early trading, the FTSE 100 in London lost 0.6% to 7,127.70 and the DAX in Frankfurt shed 0.3% to 12,490.55. The CAC 40 in Paris was 0.2% lower at 5,905.20. On Wall Street, futures for the benchmark S&P 500 index and Dow Jones

What is Goldilocks scenario?

The US Fed is unlikely to breathe easy till the inflation is brought under control. It wants to pull-off a return to 'Goldilocks' while steering clear of recession. What is the Goldilocks scenario?

World Bank warns of global recession in 2023 amid economic slowdown

Interest rate hikes by central banks around the world could trigger a global recession in 2023, the World Bank has warned, media reports said.

World Bank sees rising risk of global recession in 2023 amid rate hikes

Synchronised interest rate hikes under way globally are likely to continue well into 2023, but might not be sufficient to bring inflation back down to levels seen before the pandemic, the bank said

UK unemployment hits lowest since 1974 but jobs boom is fading

However, the fall was not a sign of health in Britain's economy which is at risk of a recession

Global economy may avoid recession as inflation risks ease - JP Morgan

The global economy could avert a recession as data points to a potential soft landing, JP Morgan analysts said, while adding that the Federal Reserve might have "over-reacted" with the 75 basis point

A soft landing is a more likely scenario for the global economy: JPMorgan

"Economic data and investor positioning are more important factors for risky asset performance than central bank rhetoric," the strategists wrote. "We maintain a pro-risk stance"

An $83 billion investor stampede shows scale of Europe's woes

Europe's woes have grown particularly acute in recent months as the region stares down the threat of a recession just as its central bank embarks on an aggressive campaign to tame inflation

European Central Bank to join US Fed in rate hikes amid record inflation

The European Central Bank is set to join the U.S. Federal Reserve in making a jumbo interest rate hike Thursday as it tries to stamp out record inflation although it risks worsening a recession that economists say is bearing down on Europe. The meeting of the bank's governing council is not about whether to raise rates for the 19 countries that use the euro currency, but by how much: between half a percentage point or three-quarters of a point, analysts say. The bank made its first increase in 11 years at its last meeting in July, raising rates by a half-point when it usually changes by only a quarter-point. The ECB, which once predicted no rate increases at all this year, has torn up its road map in the face of record inflation of 9.1% last month, which has been driven by skyrocketing prices for natural gas and lasted much longer than expected. Inflation is far above the bank's goal of 2% considered healthiest for the economy. The central bank's rationale for an increase of ...

Germany heading for recession, warns Deutsche Bank CEO Christian Sewing

"The longer inflation remains high, the greater the strain and the higher the potential for social conflict," Sewing said.