Page 3 - Latest Updates on Recession
G20 meet: Infra to sustainable finance, global headwinds take centre stage
The ministry and the Reserve Bank of India (RBI) are jointly co-hosting the FCBD meeting
 "G20 meet: Infra to sustainable finance, global headwinds take centre stage")
UK's economy rebounds by 0.5% in Oct but recession fears still loom
The British economy is estimated to have grown by 0.5 per cent between September and October, statistics showed, but a lengthy recession is still expected in the UK
 "UK's economy rebounds by 0.5% in Oct but recession fears still loom")
Signs of global slowdown: Export credit demand shrinks 25% YoY in October
The data released by the Reserve Bank of India (RBI) showed a fall in export credit even though the bank credit saw a robust growth of 18 per cent
 "Signs of global slowdown: Export credit demand shrinks 25% YoY in October")
World debt-GDP ratio plummets, but over pre-Covid level, says IMF
Total debt fell to 247 per cent of global gross domestic product last year, IMF data showed. That's 10 percentage points less than in 2020, but is still the second-highest reading in history
 "World debt-GDP ratio plummets, but over pre-Covid level, says IMF")
UK braces for 2 yrs of recession as manufacturing sector shrinks by over 4%
The UK's manufacturing sector shrank by more than 4% this year, a survey found, with predictions of another sharp decline in 2023
Next US Federal Reserve rate hike will amplify recession: Elon Musk
"If the Fed raises rates again next week, the recession will be greatly amplified," he said in a tweet
 "Next US Federal Reserve rate hike will amplify recession: Elon Musk")
HCL Tech management cautious on revenue growth in FY23; stock plunges 6%
At its investor meeting held in New York on December 8, the management said the revenue growth guidance for FY23 is likely to come in at the lower end of its 13.5-14.5 per cent
 "HCL Tech management cautious on revenue growth in FY23; stock plunges 6%")
US dollar struggles as recession worries simmer, bets on slower rate hike
The yuan hovered near an almost three-month high after China revealed a loosening of stifling COVID restrictions
 "US dollar struggles as recession worries simmer, bets on slower rate hike")
Are the markets fully pricing in recession fears?
Business Standard's Puneet Wadhwa spoke to Jitendra Gohil, Director, Global Investment Management, Wealth Management, India at Credit Suisse on how the markets may play out over the next few months
 "Are the markets fully pricing in recession fears?")
Placement offers at IITs in 2023 may not be as high as last year: Report
The highest packages at IITs for this year may come for domestic roles, unlike last year when international roles offered the highest salaries
 "Placement offers at IITs in 2023 may not be as high as last year: Report")
Top Headlines: India-UAE trade deal; crude import basket at 10-month low
The price of the Indian basket of crude oil has hit a 10-month low of $88.6 a barrel in November, government data showed
 "Top Headlines: India-UAE trade deal; crude import basket at 10-month low")
In coming global recession, job cuts won't mean mass layoffs: Report
This time around, workers have a better-than-usual shot at holding onto their jobs if recession arrives
 "In coming global recession, job cuts won't mean mass layoffs: Report")
India-UK FTA:'Mustn't hurriedly wrap negotiations with artificial deadline'
UK India Business Council MD lists four "Ps" to explains why he is confident the deal will happen
 "India-UK FTA:'Mustn't hurriedly wrap negotiations with artificial deadline'")
Foreign direct equity investments from top-6 nations shrink in H1
After witnessing a robust growth for two years, foreign direct equity investments during April-September declined 14 per cent on year to $26.9 billion
 "Foreign direct equity investments from top-6 nations shrink in H1")
Recession unlikely in APAC region in coming year: Moody's Analytics
A recession is unlikely in the APAC region in the coming year, although the area will face headwinds from higher interest rates and slower global trade growth, Moody's Analytics said
 "Recession unlikely in APAC region in coming year: Moody's Analytics")
Job switches to fetch smaller salary hikes to tech talent, says report
The average salary hike on new jobs has fallen from 54 per cent in July and August to 45 per cent in September and 37 per cent in October
 "Job switches to fetch smaller salary hikes to tech talent, says report")
Oil prices rise as Saudi comments outweigh recession, China Covid concerns
Brent crude rose 37 cents, or 0.4%, to $87.82 by 0915 GMT. U.S. West Texas Intermediate (WTI) crude was up 46 cents, or 0.6%, at $80.50
 "Oil prices rise as Saudi comments outweigh recession, China Covid concerns")
UK starting to have second thoughts about Brexit as economy faces recession
More than six years after voting to leave the European Union, the UK is facing a prolonged recession and a deep cost-of-living crisis
 "UK starting to have second thoughts about Brexit as economy faces recession")
No prospect of recession in India, economy to grow at 6-7 pc: Rajiv Kumar
India will still grow at 6-7 per cent in the 2023-24 fiscal even as the economy may be affected by uncertain global conditions, former Niti Aayog Vice-Chairman Rajiv Kumar has said
 "No prospect of recession in India, economy to grow at 6-7 pc: Rajiv Kumar")
'Risk of recession' increased, expect to raise rates more: ECB's Lagarde
Lagarde said that the "risk of a recession" has increased, but that a downturn on its own won't be sufficient to tame soaring prices
 "'Risk of recession' increased, expect to raise rates more: ECB's Lagarde")
