Commentary China these days can serve as a global economic bellwether, and the direction it points is far from encouraging. As the world’s great exporter, its growth depends less on its domestic conditions than on what is happening in the United States and Europe. And because China sources heavily elsewhere in Asia, its export issues…
Microsoft Joins Peers in Hiring Slowdown Amid Economic Volatility
Microsoft Corp. looks to slow hiring in its Windows, Office, and Teams chat and conferencing software groups, Bloomberg reports. Recently, Microsoft disclosed plans to double its budget for salary increases and boosting stock grants to retain key workers. Microsoft’s slowdown was not companywide, and overall it will continue to hire with additional focus on where those resources go….
UK’s Deliveroo Losses Swell to £298M as It Predicts Growth Slowdown
Takeaway delivery specialist Deliveroo has revealed that its losses ballooned last year as it pumped more cash into its rapid growth plans. The company posted a £298 million pre-tax loss for the year, compared with a £213 million loss in 2020, but stressed that it has a long-term plan for profitability. It told investors on…
US May Be on ‘Cusp’ of Inflation Slowdown, Fed’s Bostic Tells CNBC
WASHINGTON—The U.S. economy may be nearing a turn lower in inflation, Atlanta Fed President Raphael Bostic said on Wednesday, though he added he is still leaning towards a slightly faster pace of interest rate increases this year. “I am very hopeful we are going to start to see that decline … There is some evidence…
UK Economy Sees Steeper Slowdown in Third Quarter
UK economic growth slowed more sharply than first thought between July and September and fears are mounting that Omicron and accompanying control measures will send the recovery into reverse. The Office for National Statistics (ONS) said the economy expanded by 1.1 percent in the third quarter, compared with an initial estimate of 1.3 percent. This…
China’s Think-Tank Warns of Economic Slowdown Amid Property Sector Predicament
Advisers to Beijing on Dec.6 recommended a 2022 growth target that is lower than the target set for 2021 due to the persistent COVID-19 cases and the slowdown in the property sector. The world’s second-largest economy is likely to grow around 5.3 percent in 2022, according to an annual blue book issued by Chinese Academy of Social Sciences…
BoE Faces Decision Day, Caught Between Inflation and Slowdown Risks
LONDON—The Bank of England will deliver its most hotly awaited policy decision in years on Thursday, when it will either raise borrowing costs from an all-time low or say it is waiting to ensure the post-lockdown economy is ready for a rate hike. The British central bank is due to make its announcement at 1200…
Robinhood Shares Drop Below IPO Price in After-Market Trading on Crypto Slowdown
October 27, 2021
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Robinhood Markets Inc.’s shares fell below their initial public offering price in after-hours trading on Tuesday after the retail broker reported softer revenue than expected for the third quarter as trading levels declined for cryptocurrencies like dogecoin. Shares of Robinhood were down 8.77 percent at $36.10 following the release of the results, below the $38…
Birkin Bag Maker Hermes Shrugs Off China Slowdown, Sales Beat Forecasts
October 21, 2021
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PARIS—Sales at Birkin bag maker Hermes grew by 31 percent in the third quarter, beating market expectations even as the pace of the rebound from the fallout of the coronavirus pandemic slowed down from the previous three months. Revenues at the end of the quarter stood at 2.37 billion euros ($2.76 billion), some 40 percent…
Quest Diagnostics Sees Slowdown in COVID-19 Testing in Fourth Quarter
October 21, 2021
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Quest Diagnostics Inc. on Thursday warned that demand for COVID-19 molecular testing will slow down through the end of 2021 as infections decline, but a recovery in its core testing business will likely cushion the blow. Shares of the U.S. laboratory reversed course and fell 3.5 percent to $141.75 in early trading after it said…
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