Page 4 - Recession

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

Storm clouds of food inflation, recession continue this year: Nestle CMD

The "storm clouds of food inflation" and drum beats of recession in parts of the world continue in 2023 but FMCG major Nestle India is prepared to stay anchored through various measures it has undertaken, according to the company's Chairman Suresh Narayanan. In his address to shareholders in the company's latest annual report, Narayanan, who is also the Managing Director, said, "at such times, being boringly consistent matters more than being brilliantly erratic." The company's "steadfast focus" on building volumes, expanding in smaller towns and villages under its "RURBAN' strategy with innovations along with "astutely" managing value and simultaneously nudging the premiumisation trend that is driving economic recovery in parts and will fuel momentum, he said. On the future outlook, Narayanan said, "as we look confidently at the year ahead, the storm clouds of food inflation, acceleration of war and indeed the drum beats of recession in parts of the world continue to surround ...

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. Hunt summed up the state of the British economy by saying authorities remain vigilant and take whatever steps are necessary for economic stability.'' Today the Office for Budget Responsibility forecast that because of changing international factors and the measures I take, the UK will not now enter a technical recession this year,'' he told the House of Commons on Wednesday. He added that Britain's independent budget watchdog "forecast we will meet the Prime Minister's priorities to halve inflation, reduce debt and get the economy growing. We are following the plan and the plan is working. But that's not all we've done.'' There have been predictions that the country would dip into recession in part because of record inflation and rising energy prices due to the war in Ukraine.

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

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.

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"

Firms expect layoffs, cut down in expansions in 2023 amid recession fears

A survey of national economists found that more businesses now expect job reductions at their firms and to spend less on expansions for the first time since the pandemic, a sign that the Federal Reserve's push to raise interest rates is doing its job to slow the economy. But 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. The January survey by the National Association for Business Economics found that its respondents put on average a reading of -7 on how much they plan to hire at their firms, down from previous reading of +8 in October, when NABE did its previous survey. However, due to inflation, the survey shows that businesses still expect to pay higher wages for the workers they are holding onto. The results of the January 2023 NABE Business Conditions Survey indicate widespread concern about entering a recession this year, said NABE President Julia

Belying slowdown fears, Indian economy's animal spirits move to the right

Prices of finished products rose as firms passed on higher input costs and business expenses

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

Inflation eases slightly to 10.5% in Dec: UK national statistics office

The annual inflation rate for transport was 6.9 per cent in December, down for a sixth consecutive month, and the main driver behind the easing came from motor fuels, the ONS said

India's capex spending likely to slow on lower tax haul, global recession

Analysts say that as recessionary woes spread globally, India's tax collections and asset sales are likely to fall.

What are PM, FM hiding: Cong leader Jairam on Rane's 'recession' remark

What are Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman hiding from the country, Congress leader Jairam Ramesh asked on Tuesday after Union minister Narayan Rane's remarks indicating that India may face an economic slowdown after June. The minister for Micro, Small and Medium Enterprises (MSME) told reporters in Pune in Monday that if India faces an economic recession, it will happen only after June, but the Centre was making all efforts to avoid such a situation. He said developed countries were already facing an economic downturn. "Narayan Rane, Union Cabinet Minister of MSMEs - that have been destroyed since 2014 - forecasts recession in India after 6 months. He said this in Pune to a G20 gathering. What are the PM & FM hiding from the country?" Ramesh asked on Twitter. Rane's comments came after inaugurating the G20's 1st Infrastructure Working Group (IWG). India currently holds the presidency of the G20 grouping. "As I am in the Cabinet, some information

Recession likely this year; India may benefit from global trends: WEF

A third of respondents consider a global recession to be unlikely this year

US interest rate-cut expectations have yellow metal shining bright

Mild recession, low inflationary pressures in the US and a stronger rupee would act as headwinds

Amid mass job cuts, Amazon HR staff turn from hiring to seeking jobs

Some Amazon.com Inc. employees are publicly posting that they are #OpenToWork on LinkedIn while still employed by the company

A matter of governance: When independent directors call it quits midway

Most independent directors who quit do not explain why they are leaving before the end of their terms

Global PC demand down amid recession fears, steepest decline since mid-90s

For the entire year, PC shipments reached 286.2 million units in 2022, a 16.2 per cent decrease from 2021

Indian economy to grow at a robust 6.6% in FY24, says World Bank

'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession

World Bank cuts 2023 economic growth forecasts, warns of global recession

Spillovers from a period of pronounced weakness in the US, China and the European Union are exacerbating other headwinds faced by poorer nations

Meta now 'rescinds' full-time employment offers amid recession fears

In October this year, recruiters made it clear to candidates worried about their Meta offers that these are safe, according to Orosz