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The Latest Breaking News from Recession

White House warns of recession as debt limit fight drags on

White House economists are warning of “severe damage” to the U.S. economy in the event of a debt default

The Independent UK

Fed rate hikes, recession fears and political backlash leave ESG investors at a crossroads

The Federal Reserve raised interest rates again on May 3, 2023, by a quarter point, making it the Fed’s 10th rate hike since March 2022 in an ongoing fight to tame inflation. These rate hikes have been reverberating through the economy, raising prospects of a recession amid heightened concerns about…

The Conversation

Fed raises interest rates again but hints it may pause amid bank turmoil

The Fed’s rate increases have more than doubled mortgage rates, elevated the costs of auto loans, credit card borrowing and business loans and heightened the risk of a recession

The Independent UK

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Act Now: Sell These 3 EV Stocks Before It's Too Late

As investors fret over a potential recession and falling car sales, it could be wise to steer clear of some of the fundamentally weak Electric Vehicle (EV) stocks XPeng (XPEV), Canoo Inc. (GOEV), and Faraday Future Intelligent Electric (FFIE) before things get much uglier. Read more….

StockNews.com

Is Australia walking a ‘narrow path’ towards a per capita recession?

Australia likely avoids a recession, but it's already starting to feel like one as cost of living and higher rates spark a shopper retreat.

The New Daily

Lloyds beats forecasts with 46% profit rise after interest rates boost

Banking group expects the economy to fall by 0.6% in 2023 overall, slipping into a 'mild recession' over the first three quarters

Insider UK

The cost of living has reached a record high, businesses are struggling, and interest rates are rising. Is a recession coming?

A day after the Reserve Bank controversially raised interest rates, new data shows living costs are at an all-time high and businesses are contracting, prompting concerns a recession may be on the horizon.

ABC News

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Fed to raise interest rate again amid core inflation pressure

Expected hike in benchmark rate to a range of 5% to 5.25% could push US into recession

The Guardian - UK

NAB is first lender to pass on Reserve Bank's rate hike, ASX falls to five-week low ahead of US interest rate decision

NAB passes on the Reserve Bank's full rate hike to its home loan customers, but only two of its savings accounts, while the Australian share market drops on renewed worries about the stability of the US banking system.

ABC News

Economist Henrik Zeberg Expects History To Repeat Itself In The Worst Stock Market Crash

Companies including Morgan Stanley are making job cuts as the economy is feared to go into a recession in an unknown period.

Zenger

Best Of The Best: Top 3 Quality Stocks for Investors Looking for Stability

Heightened recessionary fears in the economy and the current banking sector jitters is weighing on the stock market. Hence, it could be wise for investors to buy quality stocks NuStar Energy (NS), Spirent Communications (SPMYY), and Westlake Chemical (WLKP), which pay stable dividends. Read more.

StockNews.com

Scottish economy grows as UK set to avoid recession this year

Sluggish growth in specific industries like manufacturing has been blamed on wider supply chain issues

Insider UK

North Asia’s factories stuck in decline

JAKARTA: North Asia’s export powerhouses continued to stutter in April amid sluggish global trade and a patchy economic recovery in China, according to new data that amplified concerns about the risk of a global recession.

Bangkok Post

Elon Musk Fires Off A Warning Of A Financial Crisis As First Republic Bank Falls

The Federal Reserve is poised to for another hike in the interest rate as Musk warns of a possible recession in the coming future.

Zenger

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Bangkok Post

TDRI questions party stimulus plans

The Thailand Development Research Institute (TDRI) has warned major political parties that their main election campaign projects might not be necessary as a stimulus since the economy is not in recession.

StockNews.com

3 Stocks to Sell Before It's Too Late

Tighter lending standards and high interest rates will likely push the economy into a recession this year. Therefore, it could be wise to sell fundamentally weak stocks Owens & Minor (OMI), ASOS (ASOMY), and Kaleyra (KLR). Keep reading….

Bangkok Post

Consumers hold recession fears at bay

Heightened worries about the strength of consumers and the global economy have been put on hold -- at least for now -- after some of the world's best-known companies delivered a slew of better-than expected numbers.

The Conversation

The Federal Reserve and the art of navigating a soft landing ... when economic data sends mixed signals

With inflation easing and the U.S. economy cooling, is the Federal Reserve done raising interest rates? After all, gently bringing down the trajectory of prices without crashing the economy was the central bank’s objective when it began jacking up rates over a year ago.

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StockNews.com

Sell: 3 Worst Value Stocks to Avoid in the Current Market

Even though the Fed’s interest rate hikes are anticipated to pause soon, considering the looming recessionary fears triggered by the macroeconomic headwinds, it could be wise to avoid fundamentally weak stocks Norwegian Cruise Line Holdings (NCLH), First Majestic Silver (AG), and Desktop Metal (DM) now. Continue reading….

The Guardian - UK

Eurozone economy avoids recession ‘by a whisker’

Warmer winter, lower energy prices and China’s reopening help bloc surprise economists and stave off severe downturn

The Independent UK

Europe's economy ekes out slight growth at start of 2023

The European economy has scraped out meager growth of 0.1% in the first three months of the year

Evening Standard

Germany narrowly escapes recession as economy flatlines, underperforming expectations

However, investors may take confidence from elsewhere in Europe, as France and Italy both returned to growth

Fortune

U.S. GDP growth delays the long-predicted recession—again

The Federal Reserve has more work to do to ease inflation—which is why so many see a recession ahead.

ABC News

Westpac forecasts RBA is done with rate hikes, ASX finishes higher, Coles' quarterly revenue climbs — as it happened

The ASX gains ground as Westpac forecasts the RBA will leave rates unchanged at its meeting next week. Look back on the day's events with our blog.

WEKU

What went wrong at Silicon Valley Bank? The Fed is set to release a postmortem report

The Federal Reserve and the FDIC are set to report Friday on their oversight of two failed banks. The banks' collapse six weeks ago rocked credit markets and raised the risk of recession.

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