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The Latest Breaking News from Recession

Electronics retailer Best Buy still weathering profit falls and sales dips

The recession for electronics continued this spring as Best Buy reported same-store sales dropped a little more than 10% from last year.

Tribune News Service

Germany's economy contracts, signaling a recession

The German economy shrank unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession. High inflation hit consumer spending.

WEKU

Germany economy shrinks in first quarter, signaling one definition of recession

The German economy has shrunk unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession

The Independent UK

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DeSantis's troubled Twitter campaign launch underlines issues since Musk takeover

Technical malfunctions have marred Florida Governor Ron DeSantis's announcement that he's running for US president. The hyped Twitter Spaces appearance was 20 minutes late in starting, repeatedly lost sound and many users said they had trouble logging in. Since Elon Musk took the reins, Twitter has struggled with a myriad…

France 24

Stock market today: World shares decline on worries over US debt; Germany slips into recession

Shares are mostly lower in Europe and Asia as investors watch for signs of progress on a deal to avert a default on U.S. government debt

The Independent UK

3 ways to protect your money if the U.S. defaults on its debt

From social security payments to interest rates, a lot hinges on a debt-ceiling deal. Personal finance experts say you should prepare for a possible debt default as you would a recession.

WEKU

‘We don’t do deep emotional discussions’: why men lose their friends – and how they can make more

A quarter of British men say they have no close mates. But even in middle age, where the ‘friendship recession’ hits hardest, it’s possible to buck the trend

The Guardian - UK

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German economy in recession after high prices take toll, revised figures reveal

Updated data shows economy went into reverse in first quarter with GDP falling by 0.3%

The Guardian - UK

FTSE 100 Live: Gilt yields approach mini-Budget level; City sees 5.5% interest rates; FTSE closes down 0.7%

Germany’s slide into recession added to pressure on European markets today as the FTSE 100 index endured another session in the red.

Evening Standard

German economy goes into recession as GDP shrinks by 0.3% in Q1

BERLIN: The German economy contracted in the first quarter of 2023 compared with the previous three months, thereby entering recession, data from the statistics office showed on Thursday.

The Times of India

Is Snap Inc. (SNAP) a Buy?

Shares of Snap (SNAP), the social media darling of Gen Z, have taken a hit as the company is struggling with its widening losses amid the pullback in advertising spend. So, with a recession likely coming this year, is SNAP worth owning? Let’s try to gauge SNAP’s prospects by analyzing…

StockNews.com

The most predicted recession ever maybe won’t happen. Get ready for the ‘asset class recession’

An asset class recession would hit at a uniquely vulnerable time, as the share of Americans invested in stocks hasn’t been so high since the Great Financial Crisis.

Fortune

4 Hyper-Growth Stocks That Could Soar

Coupled with the macroeconomic headwinds, the U.S. debt default crisis and consequent recessionary fears have triggered market volatility. Against this backdrop, quality growth stocks Boston Scientific (BSX), Cardinal Health (CAH), Cidara Therapeutics (CDTX), and Geospace Technologies (GEOS) could be solid buys now. Read on….

StockNews.com

Australia might not be in a recession but households are about to feel as though they are

People are spending less money, which means trouble for the economy. But it hasn’t hurt big business

The Guardian - AU

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Evening Standard

Have we avoided a recession, or just delayed it?

City comment: Markets are losing faith in the Bank of England’s strategy

StockNews.com

Post 6/1 Stock Trading Plan

The 6/1 debt deal deadline seems to loom large for the stock market (SPY). Yet that is nothing more than a side show and distraction from what really matters. 40 year investment veteran Steve Reitmeister explains what investors need to focus on to stay ahead of the market in the…

Fortune

New student loan borrowers are about to face the highest interest rates since the Great Recession

The new rates will apply to loans taken out from July 1, 2023, through June 2024. They could mean paying thousands of dollars more in interest.

Barchart

To Sell or Not Sell Kansas City Wheat's Inverse? That is the Question

To approach Hamlet's paraphrased question, we can apply Newsom's Market Rule #3, though the answer may surprise you.

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StockNews.com

3 Buy-Rated Consumer Stocks

Amid the possibility of a recession later this year, the consumer goods sector is expected to perform relatively well. Amid this backdrop, it could be wise to buy fundamentally strong consumer stocks Unilever PLC (UL), Yue Yuen Industrial (YUEIY), and Edgewell Personal Care (EPC). These stocks are rated Buy in…

StockNews.com

3 Financial Services Stocks to Beware of

As the United States grapples with the critical stage of raising its massive debt ceiling, the financial services sector finds itself on high alert. Hence, fundamentally weak financial services stocks BRP Group (BRP), Digital World (DWAC), and SAI.TECH Global (SAI) might be best avoided. Keep reading.

The Conversation

Degrowth isn't the same as a recession – it's an alternative to growing the economy forever

The UK economy unexpectedly shrank by 0.3% in March, according to the Office of National Statistics. And though the country is likely to narrowly avoid an official recession in 2023, just as it did the previous year, the economy is projected to hit the worst growth rates since the Great…

Evening Standard

Homeowners warned they could be hit with two interest rate hikes this summer

IMF warns that interest rates will rise further but forecast that the UK would avoid a recession

Evening Standard

UK will avoid recession in 2023, says IMF

In April it forecast that UK output was expected to contract by 0.3%.

The Independent UK

Bank of England admits it made errors in inflation forecasts

The Bank’s top economist Huw Pill acknowledged forecasts for inflation were ‘too low’, leading to mistakes in its decision-making

The Guardian - UK

IMF says UK no longer heading for recession but urges against tax cuts

Jeremy Hunt should squeeze public spending and cut debt, says Washington-based body

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