Tag Archives: recession

Hedge fund manager Bill Ackman believes the Federal Reserve’s 2% inflation target is unattainable without severe pain for the U.S. economy. The Pershing Square Capital founder and CEO said in a tweet Wednesday it would take a “deep, job-destroying recession” for inflation to return to that level, which marks the U.S. central bank’s long-term price stability goal. “Even if it gets back to 2%, it won’t remain stable there for the long term,” Ackman said in a tweet Wednesday after… Source link

The global economy is likely to grow so slowly in 2023 that it will certainly feel like a recession, one economist says. “The global economy is slowing, and risks are to the downside,” Morgan Stanley Global Chief Economist Seth Carpenter wrote in a new note, adding that “we are on the cusp of a loose definition of recession.” And given the general nature of the slowdown, “the distinction between a recession and not is going to be a little murky,” Carpenter told Yahoo Finance Live… Source link

The global economy is likely to grow so slowly in 2023 that it will certainly feel like a recession, one economist says. “The global economy is slowing, and risks are to the downside,” Morgan Stanley Global Chief Economist Seth Carpenter wrote in a new note, adding that “we are on the cusp of a loose definition of recession.” And given the general nature of the slowdown, “the distinction between a recession and not is going to be a little murky,” Carpenter told Yahoo Finance Live… Source link

Big Tech is bracing for a tough road ahead as HP Inc. said it will axe 10% of its staff, Dell warned that sales are sliding, and Google prepares to designate 10,000 employees as low-performing, a potential prelude to mass staff reductions. The reductions come as a potential recession and post-pandemic decline in sales have led many technology companies to reevaluate staffing needs. HP will cut 4,000 to 6,000 employees in the next five years, aiming to save $1.4 billion a year. “At this… Source link

With a recession potentially on the horizon, a new survey shows many Canadians aren’t sure they’re in a good financial position to make it through the downturn. A new poll has found that more than a quarter of Canadians feel they won’t be able to financially weather a recession. Twenty per cent of respondents to a Yahoo survey, conducted by Maru Public Opinion, say they won’t be able to withstand an economic downturn for more than a month, while eight per cent say their financial situation is… Source link

Goldman Sachs is pushing back on the notion that headline-grabbing layoffs from big-cap tech companies are a sign of a looming U.S. recession. “Tech layoffs are not a sign of an impending recession,” Goldman Sachs chief economist Jan Hatzius wrote in a note to clients on Tuesday. As the year nears a close, the layoffs announcements have picked up in tech land amid a terrible year for stock prices and slowing growth. In the past two weeks alone, Meta and Amazon have unveiled combined job cuts of… Source link

Disney (DIS) laid out key levers it can pull to help battle a potential recession — as the media giant’s theme parks business showed signs of weakness in the fourth quarter. On the earnings call following the disappointing results, Disney CFO Christine McCarthy noted that the company has tools, both new and old, that it can utilize to keep its parks business afloat should consumers pull back spending. According to the executive, one tool includes discounting — something that McCarthy noted… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, November 7, 2022 Today’s newsletter is by Brian Sozzi, an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Read this and more market news on the go with Yahoo Finance App. Weird times. So I’m sitting on Yahoo Finance Live on jobs report Friday, almost in a state of disbelief. Non-farm… Source link

Mastercard CEO Michael Miebach thinks it will be a merry holiday season despite fears of a U.S. recession. “Currently, based on the data that we we have, there is no such indication [of a recession],” Miebach told Yahoo Finance Presents in an exclusive interview (video above). “The consumer is resilient, and that resilience will last. We have no indication that there is a near-term recession.” Miebach’s comments on a recession echo what rival CEO Stephen Squeri at American Express recently… Source link

New York CNN Business  —  Google may be the giant in the digital advertising world, but even it is not immune to the impact that the economic downturn and recession fears are having on the online ad market. Google parent company Alphabet (GOOGL) on Tuesday reported earnings results for the third quarter that fell short of Wall Street analysts’ estimates for both sales and profits,… Source link