Recession (98391)

World’s fourth-largest economy and Europe’s largest, Germany, has entered into recession after the country’s GDP recorded its second quarterly contraction.The country’s Gross Domestic Product (GDP) from January to March quarter fell by 0.3…

The Bank of England increased interest rates on Thursday (Feb 2), in the midst of a recession, for the 10th time in a row, to the highest level since the 2008 financial crisis, with a warning that more hikes may be necessary to combat…

Data released on Wednesday (Feb 1) indicated that South Korea's economy has advanced closer to its first recession in three years in January as a result of a record-high trade deficit, largely driven by falling exports as a result of…

Joining the layoffs spree, US tech giant Microsoft Corp on Wednesday announced that it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The layoffs will result in a charge of $1.2 billion in the second quarter of fiscal…

Microsoft is getting ready to slash more jobs from its worldwide workforce as software companies continue to reduce staff numbers to weather the current economic crisis. According to Bloomberg News, the legendary name in the computer…

Many financial institutions have predicted that the world is headed for another recession. As rising inflation leads to a hike in interest rates, companies across the world have announced a freeze in hiring and planning to…

The International Monetary Fund (IMF) has said that the world economy is "teetering" on the edge of a global recession. The remarks come as the world’s three largest economies —the United States, China and Europe— are…