Page 6 - Latest Updates on Recession
Oil down on strong dollar, worries about recession and hawkish Fed talk
Oil futures fell for a third day on Wednesday, as a stronger dollar and worries about weaker demand and rising interest rates
 "Oil down on strong dollar, worries about recession and hawkish Fed talk")
Despite recessionary trends… we're talking about 7% growth: Hiranandani
The real estate sector will sustain its growth momentum in this festival season, said Niranjan Hiranandani
 "Despite recessionary trends… we're talking about 7% growth: Hiranandani")
Attrition in IT companies likely to stay at 20% over recession fears
Tata Consultancy Services (TCS), in its quarterly results announced on Monday, said that the attrition in Q2FY23 was 21 per cent, it was 19.7 per cent in Q1FY23
 "Attrition in IT companies likely to stay at 20% over recession fears")
Oil prices fall more than 2% on account of recession and China Covid fears
Oil has dropped sharply on economic fears after surging earlier in 2022, when Brent came close to its record high of $147 as Russia's invasion of Ukraine added to supply concerns
 "Oil prices fall more than 2% on account of recession and China Covid fears")
LIVE: Mortal remains of Mulayam Singh Yadav consigned to flames in Saifai
A large sea of people chant 'Netaji amar rahein' as a vehicle carriedthe mortal remains of Samajwadi Party supremo
 "LIVE: Mortal remains of Mulayam Singh Yadav consigned to flames in Saifai")
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")
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")
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")
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")
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")
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")
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")
