Page 4 - Economic Slowdown

Virtual reality jobs die down at Meta, Google amid hiring freeze: Report

The VR job postings have also slowed down at other Big Tech companies like Apple and Google amid the hiring frezz and layoff season owing to the global economic meltdown, according to Revelio labs

Xiaomi cuts over 900 jobs globally as Q2 revenue dips 20%: Report

"In this quarter, our industry faced many challenges, including rising global inflation, foreign exchange fluctuations (and) complex political environment," said Xiaomi president Wang Xiang

Industrial China is alive and well despite concerns of economic slowdown

Data this past week showed a dismal picture: China's industrial output rose 3.8% from a year earlier, which was below expectations, fixed investment grew slower than forecast and credit was weak

'Too little, too late': China interest rate cut spurs call for more moves

Unlike many advanced economies right now, China's core inflation -- which excludes volatile energy and food prices -- is pretty tame, slowing to merely 0.8% in July

'There will be blood on streets,' Google execs warn employees about layoffs

As Big Tech companies begin to lay off employees, Google executives have reportedly warned workers to either boost performance or prepare to leave as "there will be blood on the streets"

Goldman sees strong case for higher oil prices despite negative shocks

The market will remain in unsustainable deficits at current prices and balancing it will still require 'demand destruction on top of the ongoing economic slowdown', says the investment bank

Asian unicorns are trading 40% cheaper than 6 months ago in private markets

"For some of the unicorns, we are seeing very limited demand," Patel said, adding that bid offers are 25% to 50% lower compared with the firms' latest fundraising valuations.

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

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

Consumer IT spending to slide further amid recession fears in Asia-Pacific

Consumer IT spending in the Asia-Pacific region, already taking the brunt in the ongoing tight market conditions, is set to further slide in 2023, depending on the severity of the economic slowdown

Oil steady as economic slowdown worries offsets tight supplies, weak dollar

Brent futures for September delivery fell 14 cents, or 0.1%, to $106.13 a barrel by 10:48 a.m. EDT, while U.S. West Texas Intermediate (WTI) crude for August fell 27 cents, or 0.3%, to $102.33

Apple hovers above competition even as smartphone market stumbles: Report

Apple's slightly higher expectations for forthcoming iPhone 14 underscore a growing belief among Wall Street analysts that the sales are likely to hold up better than the broader smartphone industry

Copper prices slide to 20-month low on economic slowdown fears

Rising US interest rates have pushed the dollar to its strongest in two decades, making dollar-priced metals costlier for non-US buyers and potentially dampening demand

Oil slides on strong dollar, weaker demand outlook and slowdown fears

Brent crude futures were down by $4.78, or 4.5%, at $102.32 a barrel by 1112 GMT, having earlier sunk as low as $101.48.

AIIB's Erik Berglof on ongoing economic turmoil and more

In an interview with Business Standard's Asit Ranjan Mishra, AIIB chief economist Erik Berglof talks about the economic turmoil and how the bank played a key role in bringing India and China closer.

CRISIL cuts FY23 GDP growth estimate to 7.3% from 7.8% on high inflation

Domestic rating agency CRISIL lowered its real GDP growth forecast for India to 7.3 per cent in FY23 from 7.8 per cent estimated earlier.

China budget deficit hits record high amid tax rebates, Covid pain

The drop in revenue just as more spending is needed will force local authorities to either boost their already heavy debt burden or accept weaker economic growth

For India, economic entropy presents both an opportunity and big challenge

Entropy, or the disorder in a system, is a concept not usually used to understand economic trends, but it best describes the disorder and randomness at work today, writes T N Ninan

Looming economic slowdown to stall telecom services sector growth: Report

Multiple factors like inflation, raising of benchmark interest rates, China lockdowns and the Russia-Ukraine war are set to hamper the growth of telecom and Pay TV services globally

Sri Lanka crisis: Trade Unions demand President Rajapaksa's resignation

Hundreds of trade unions in Sri Lanka have been staging a nationwide protest over the mishandling of the economic crisis and have called for the immediate resignation of President Rajapaksa