Aleksey Miller, the CEO of Gazprom, a major Russian energy company, has raised concerns about Europe’s economy. He says that European industrial production is at its lowest levels ever, and the economy is struggling because it no longer has access to cheap Russian gas. This comes as the German government
According to experts, Germany’s recession is seen as the first falling domino within the EU, given that Germany has long been the flagship and a powerhouse of Europe. Germany entered a technical recession in the first quarter of 2023, according to recent figures from the Federal Statistical Office. What’s behind
The minutes from the March meeting of the Federal Open Market Committee show that the Fed expects a banking crisis to cause a recession this year.
Major US banks have reported mixed results for the fourth quarter, as bank executives pointed to the rising odds of a “mild recession,” with inflation and interest rate hikes challenging households and businesses. It seems like big US banks are preparing for a mild recession.
After FedEx failed expectations for revenue and earnings in its first quarter, the CEO became pessimistic. Additionally, the business revoked its full-year guidance. The FedEx CEO has predicted a worldwide recession.
The recent GDP report has revealed that the US economy is slipping into a recession as inflation weighs on growth, but according to Morgan Stanley, this year’s third quarter will see better growth.
