MANILA—Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China’s slowdown, but the pace of expansion will pick up next year, the World Bank said on Tuesday. The Washington-based lender said in a report it expected 2022 growth in the East Asia and Pacific region, which includes China, to…
World Bank Cuts 2022 East Asia Growth Outlook, Cites China Slowdown
September 27, 2022
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Salesforce Cuts Forecast on Lower IT Spending, Forex Hit
Salesforce Inc. on Wednesday cut its annual revenue and profit forecasts over “measured” spending from clients and a hit from a stronger dollar, sending its shares down 7 percent in extended trading. Salesforce also announced stock repurchase of up to $10 billion, its first-ever buyback, while warning of challenges in North America and major European…
IMF Again Cuts US 2022 Growth Forecast to 2.3 Percent as Consumer Spending Cools
WASHINGTON—The International Monetary Fund on Tuesday warned that avoiding recession in the United States will be “increasingly challenging” as it again cut its 2022 U.S. growth forecast to 2.3 percent from 2.9 percent in late June as recent data showed weakening consumer spending. The Fund also cut its 2023 real GDP growth forecast to 1.0…
PepsiCo Says Snacks, Sodas Could Get Pricier After Scant Consumer Pushback
PepsiCo Inc. raised its full-year revenue forecast on Tuesday and said it could increase prices further in the coming months, with the beverage giant seeing little impact on demand for its sodas and snacks despite decades-high inflation. The company’s shares rose 1.5 percent to $173 in morning trading. Pandemic-induced disruptions to the global supply chain…
IMF Slashes US Growth Forecast, Sees ‘Narrowing Path’ to Avoid Recession
WASHINGTON—The International Monetary Fund on Friday slashed its U.S. economic growth forecast as aggressive Federal Reserve interest rate hikes cool demand but predicted that the United States would “narrowly” avoid a recession. In an annual assessment of U.S. economic policies, the IMF said it now expects U.S. Gross Domestic Product to grow 2.9 percent in…
Apple, Tesla Supplier TSMC Forecasts Strong 2022 Growth
Taiwan Semiconductor Manufacturing Company Ltd., which supplies chips to the likes of Apple, Inc. and Tesla, Inc., is purportedly weathering external risks fairly well and is confident of seeing strong growth in 2022. What Happened TSM expects revenue growth to accelerate from 24.9 percent in 2021 to 30 percent in 2022, the foundry’s chairman Mark Liu said…
IEA Marginally Cuts Global Oil Demand Forecast on Mired Outlook Due to China COVID-19 Lockdown, Russia-Ukraine War: FT
April 14, 2022
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The International Energy Agency (IEA) has lowered its global oil demand forecast amid surging coronavirus cases in China and weaker than expected demand in the U.S. and other developed countries. According to the Financial Times report, The agency now expects demand to average 99.4 million barrels a day this year, down from its previous estimate…
Shanghai COVID-19 Curbs Prompt Half of US Firms in China to Cut Revenue Forecasts: Survey
SHANGHAI—More than half of U.S. multinational companies in China have reduced their annual revenue projections, mostly due to the recent COVID-19 outbreak in Shanghai, according to a joint survey by the American Chambers of Commerce in Shanghai and Beijing published on Friday. Responses to the survey, conducted with 167 companies operating throughout China including 76…
Beyond Meat Shares Fall on Dimmer Than Expected Forecasts
February 25, 2022
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Beyond Meat Inc. forecast annual revenue below estimates on Thursday, hitting its share price, as it faced stiffer competition amid flat demand for plant-based protein. The California-based company said it expects revenue of $560 million to $620 million for 2022, compared with estimates of $637.3 million, according to Refinitiv IBES data. Sales to U.S. grocers,…
JPMorgan Raises Annual Forecast for Net Interest Income to $53 Billion
JPMorgan Chase & Co. expects its net interest income to grow to $53 billion in 2022, up nearly $3 billion from its prior forecast, Chief Financial Officer Jeremy Barnum said on Friday at a conference hosted by Credit Suisse.
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