Page 9 - Latest Updates on Recession
JPMorgan CEO Jamie Dimon warns of global recession in 6-9 months
Runaway inflation, big interest rates hikes, the Russian invasion of Ukraine and the unknown effects of Fed's quantitative easing policy are among the indicators of a potential recession, Dimon said
 "JPMorgan CEO Jamie Dimon warns of global recession in 6-9 months")
Oil price steadies as supply tightness duels with recession fears
Brent crude futures for December settlement fell by as much as 1.1% but recovered to being down 17 cents, or 0.2%, at $97.75 a barrel by 1353 GMT
 "Oil price steadies as supply tightness duels with recession fears")
Oil falls as China demand concerns fuel recession fears
Economic slowdown in China, world's second-largest oil consumer, adds to rising concerns about possible global recession triggered by numerous central banks raising interest rates to combat inflation
 "Oil falls as China demand concerns fuel recession fears")
UK shows labour market slowdown with recession concerns rising: Survey
As a result, vacancies and the number of people placed in roles both rose at the slowest pace in more than a year and a half
 "UK shows labour market slowdown with recession concerns rising: Survey")
IMF warns of higher recession risk and darker global outlook in 2023
IMF MD said the outlook for the global economy was darkening given the shocks caused by the Covid pandemic, Russia's invasion of Ukraine and climate disasters on all continents
 "IMF warns of higher recession risk and darker global outlook in 2023")
WTO slashes global 2023 trade growth forecast to 1% as recession looms
Forecast lowered from 3.4% as recession looms
 "WTO slashes global 2023 trade growth forecast to 1% as recession looms")
86% of global CEOs see recession within 12 months, finds KPMG survey
46% of corporate leaders considering job cuts over the next six months
 "86% of global CEOs see recession within 12 months, finds KPMG survey")
Cathie Wood scoops up Tesla as stock tumbles on deliveries miss in Q3
Funds backed by Wood's Ark Investment Management LLC bought 132,213 shares in Elon Musk's company on Monday, marking the firm's first purchase of Tesla since mid-June
 "Cathie Wood scoops up Tesla as stock tumbles on deliveries miss in Q3")
September's credit wipeout foretells even more pain in for US investors
The pain is just beginning for investors in US credit markets after Federal Reserve tightening and recession angst sent investment-grade bonds, high-yield debt and leveraged loans spiraling in Sept
 "September's credit wipeout foretells even more pain in for US investors")
India may not be able to completely avoid impact of global recession
Lower global commodity prices to help the economic growth
 "India may not be able to completely avoid impact of global recession")
World shares mostly lower as recession fears deepen amid oil price hike
Shares dropped in Europe and Asia on Monday while oil prices surged more than $3 a barrel amid dire warnings over energy shortages in Europe if Russia cuts off gas supplies
 "World shares mostly lower as recession fears deepen amid oil price hike")
Q4 off to shaky start as world stocks stumble to lowest since 2020
Sentiment across markets remained frail given worries that aggressive interest rate hikes from the likes of the US Federal Reserve raises global recession risks
 "Q4 off to shaky start as world stocks stumble to lowest since 2020")
US markets could head lower as earnings downgrades pick up pace: Chris Wood
Corporate earnings in the US, meanwhile, are likely to be under pressure amid recession fears. Analysts have already started cautioning investors as regards a drop in earnings
 "US markets could head lower as earnings downgrades pick up pace: Chris Wood")
Germany set to enter recession in 2023 with 0.4% decline in GDP: Report
Germany is set to enter a recession in 2023, with a decline in gross domestic product (GDP) of 0.4 per cent, according to a joint forecast published by leading economic institutes in the country
 "Germany set to enter recession in 2023 with 0.4% decline in GDP: Report")
Asian shares see worst month since pandemic's onset on recession concerns
The Asian index was set to record a staggering 12.5% drop for the month, the largest since March 2020 when the Covid-19 pandemic threw financial markets into chaos
 "Asian shares see worst month since pandemic's onset on recession concerns")
UK PM Liz Truss says tax cut was a right thing, will not change course
"We had to take urgent action to get our economy growing and that means taking controversial and difficult decisions," Truss said.
 "UK PM Liz Truss says tax cut was a right thing, will not change course")
Uber rival Lyft freezes hirings amid economic instability, recession fears
Ride-hailing platform Lyft has announced to freeze all hirings amid the economic instability and recession fears
 "Uber rival Lyft freezes hirings amid economic instability, recession fears")
World Bank President Malpass warns of stagflation, recession in Europe
In a speech at Stanford University, Malpass said there was an increased likelihood of recession in Europe, while China's growth was slowing sharply and U.S. economic output had contracted
 "World Bank President Malpass warns of stagflation, recession in Europe")
Sensex declines for sixth straight session as global rout continues
Index down 5.2% in 6 sessions; FPIs tally turns negative for Sep
 "Sensex declines for sixth straight session as global rout continues")
Wall Street jumps over 1% in choppy trading as yields dip
Apple down 2.83% on move to drop iPhone production boost; US 10-yr Treasury yields ease from 12-year highs; Biogen soars on landmark Alzheimer's data
 "Wall Street jumps over 1% in choppy trading as yields dip")
