Page 13 - Latest Updates on Recession
Sensex sprints 545 pts, reclaims 58K; Nifty tops 17,300; TaMo up 7%, M&M 6%
CLOSING BELL: M&M (up 6 per cent) was the top Sensex gainer, followed by RIL, Maruti Suzuki, Bharti Airtel, Power Grid, Kotak Bank, Ultratech Cement, ITC, NTPC, SBI, Axis Bank, and Titan
 "Sensex sprints 545 pts, reclaims 58K; Nifty tops 17,300; TaMo up 7%, M&M 6%")
What is a recession?
It looks like the equity markets have priced in the prospect of the US slipping into recession. But ever wondered what exactly recession is? Our next report tells
 "What is a recession?")
'Losing objectivity': Elon Musk slams Wikipedia over 'recession' page
After Wikipedia suspended the editing of the "recession" page, tech billionaire Elon Musk slammed co-founder Jimmy Wales and said the platform is "losing its objectivity".
 "'Losing objectivity': Elon Musk slams Wikipedia over 'recession' page")
Exports to take severe beating if recession hits US, Europe: Experts
Domestic demand may have to cushion the external impact
 "Exports to take severe beating if recession hits US, Europe: Experts")
World's biggest bond markets back in vogue as recession fears mount
By Dhara Ranasinghe
 "World's biggest bond markets back in vogue as recession fears mount")
 "Oil rally to stall as recession risks counter tight supplies, says poll")
US economy shrinks for a second quarter, fueling recession fears
Surging inflation, rising rates, and continued supply chain snags to blame
 "US economy shrinks for a second quarter, fueling recession fears")
Dollar pares gains as US economic growth contracts for second quarter
The second straight quarterly decline in GDP meets the standard definition of a recession. It comes as the Fed aggressively hikes rates in an attempt to choke off soaring inflation.
 "Dollar pares gains as US economic growth contracts for second quarter")
Indian diaspora, global bankers may profit from New Delhi's dollar crunch
India isn't in the same boat as its South Asian neighbors, even though it's in the same choppy waters
 "Indian diaspora, global bankers may profit from New Delhi's dollar crunch")
China banks rush to raise debt as slowdown hikes potential bad loans
A record amount of fresh money has come from financial markets in China, with banks selling 29% more bonds in the first half of the year compared to last year
 "China banks rush to raise debt as slowdown hikes potential bad loans")
India's top companies flag slowdown concerns as global recession looms
Chairman of the top two consumer goods companies, namely ITC and HUL, were blunt in their assessment of the market
 "India's top companies flag slowdown concerns as global recession looms")
US economy seen narrowly averting back-to-back contractions in Q2
Economists expect GDP to grow at annualised 0.4% in April-June period; consumer spending likely decelerated 1.2% on an annual basis
 "US economy seen narrowly averting back-to-back contractions in Q2")
Amid 'extraordinary' uncertainty, IMF doesn't rule out global recession
IMF warns that risk is particularly prominent in 2023, and even small shocks could cause economies to stall
 "Amid 'extraordinary' uncertainty, IMF doesn't rule out global recession")
Global economy in grips of serious slowdown, inflation surge to endure
The global economy is in the grips of a serious slowdown, with some key economies at high risk of recession and only sparse meaningful cooling in inflation over the next year
Biden fights talk of recession as key US economic growth report looms
Top forecasts such as the Atlanta Federal Reserve's GDP now are predicting that the figure will be negative for the second straight quarter an informal signal that the country is stuck in a downturn.
 "Biden fights talk of recession as key US economic growth report looms")
Limited refining capacity to keep margins high: Reliance Industries
RIL did point to these recessionary fears at its investor call, saying it remained a challenge for oil companies
 "Limited refining capacity to keep margins high: Reliance Industries")
Top headlines: RIL Q1 profit surges 46%, MoD bans imports from 18 platforms
Public procurement by public sector undertakings (PSUs) from micro and small enterprises rose nearly 11 per cent year-on-year (YoY) to Rs 41,699 crore in the fiscal year 2020-21
 "Top headlines: RIL Q1 profit surges 46%, MoD bans imports from 18 platforms")
Reliance Industries warns of global recession headwinds after profit miss
"Recession fears are overtaking oil market fundamentals, resulting in lower prices and margins," Reliance's Joint Chief Financial Officer V. Srikanth said in a post-earnings call Friday
 "Reliance Industries warns of global recession headwinds after profit miss")
India's non-oil exports to Nepal fell 13% to $943 mn in April-May
Himalayan neighbour bans imports of non-essentials amid depleting forex; dip could impact India's FY23 trade deficit which is already worsening on fears of recession in developed countries
 "India's non-oil exports to Nepal fell 13% to $943 mn in April-May")
Microsoft, Google among tech giants to pause hiring amid fear of recession
With recession fears mounting-and inflation, the war in Ukraine and the lingering pandemic taking a toll-many tech companies are rethinking their staffing needs
 "Microsoft, Google among tech giants to pause hiring amid fear of recession")
