New Work: Federal Reserve Chair Jerome Powell repeated that the US central bank isn’t in any rush to cut interest rates. “We don’t need to be in a hurry to cut,” Powell said Friday at an event at the San Francisco Fed. Fresh inflation data released earlier is “pretty much in line with our expectations,” … Read more
Tokyo: Japan’s benchmark Nikkei 225 index surged Thursday past the record it set in 1989 before its financial bubble burst, ushering in an era of faltering growth. The index closed Thursday at 39,098.68, up 2.2%. Its previous record was 38,915.87, set on December 29, 1989. So now it is back to where it was 34 … Read more
Britain’s economy fell into a recession in the second half of 2023, a tough backdrop ahead of this year’s expected election for Prime Minister Rishi Sunak who has promised to boost growth. Gross domestic product (GDP) contracted by 0.3 per cent in the three months to December, having shrunk by 0.1 per cent between July … Read more
Germany’s DIHK chambers of industry and commerce expect Europe’s largest economy to shrink by 0.5% this year as high energy prices, heavy bureaucracy, a skilled workers shortage and weak domestic demand weigh on economic output. A DIHK poll of more than 27,000 companies showed that of those surveyed, 35% expect business to deteriorate in the … Read more
Japan’s economy slipped into a recession as it unexpectedly shrank for a second straight quarter on weak domestic demand, data showed on Thursday, raising uncertainty about the central bank’s plans to exit its ultra-easy policy sometime this year. The surprisingly weak performance saw Japan lose its title as the world’s third-largest economy, replaced by Germany. Gross domestic … Read more
Mumbai: A likely recession, global geopolitical unrest and cyber security are the three main concerns of Indian business leaders, as companies seek to find balance between artificial intelligence adoption in key business operations and data privacy, said JP Morgan. Nine out of 10 business leaders expect growth in profit and revenue, but also expect increased … Read more
Hybrid work is “firmly established”, the survey noted. (Representative pic) A new survey conducted by The Conference Board has found that chief executive officers (CEOs) are prioritising bringing workers back into the office full-time, five days a week. The US-based think tank surveyed 1,200 executives, including 630 CEOs across the US, Latin America, Japan and … Read more
The United Nations issued a somber global economic forecast for 2024 on Thursday, pointing to challenges from escalating conflicts, sluggish global trade, persistently high interest rates and increasing climate disasters. In its flagship economic report, the U.N. projected that global economic growth would slow to 2.4 per cent this year from an estimated 2.7 per … Read more
