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Layoff news: 3M to slash 2,500 Jobs, CEO vows to reexamine ‘everything we do’

3M, the maker of Post-it notes, surgical supplies and touch-screen displays said Tuesday that it sees adjusted earnings for 2023 in a range of $8.50 to $9 per share, excluding special items. That’s below the average analyst estimate.

The logo for 3M appears on a screen above the trading floor of the New York Stock Exchange. 3M, maker of Post-it notes, industrial coatings and ceramics, is cutting about 2,500 manufacturing jobs worldwide.(AP)
The logo for 3M appears on a screen above the trading floor of the New York Stock Exchange. 3M, maker of Post-it notes, industrial coatings and ceramics, is cutting about 2,500 manufacturing jobs worldwide.(AP)
Published on Jan 24, 2023 11:09 PM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar

Surveys suggest possible uptick in global economy in coming week

Purchasing manager indexes for both the US and the euro zone are anticipated by economists to tick higher. The International Monetary Fund may even soon raise its outlook for the year, its chief hinted on Friday.

Purchasing manager indexes for both the US and the euro zone are anticipated by economists to tick higher. (Bloomberg)
Purchasing manager indexes for both the US and the euro zone are anticipated by economists to tick higher. (Bloomberg)
Published on Jan 22, 2023 09:39 AM IST
Bloomberg |

Davos 2023: Economist fear global recession in 2023, states WEF survey

World Economic Forum survey comes after the World Bank last week slashed its 2023 growth forecasts to levels close to recession for many countries as the impact of central bank rate hikes intensifies, Russia's war in Ukraine continues, and the world's major economic engines sputter.

The partially snow-covered Schiahorn mountain, beyond the Congress Centre, the venue for the World Economic Forum (WEF), in Davos, Switzerland.(Bloomberg)
The partially snow-covered Schiahorn mountain, beyond the Congress Centre, the venue for the World Economic Forum (WEF), in Davos, Switzerland.(Bloomberg)
Published on Jan 16, 2023 04:11 PM IST
Reuters | | Posted by Singh Rahul Sunilkumar

Why these major economies may defy recession forecasts

Recession 2023: Europe’s two biggest economies may have succeeded in skirting a recession in the fourth quarter, defying downbeat expectations.

Recession 2023: Germany and UK defying forecasts may skirt recessions for now.
Recession 2023: Germany and UK defying forecasts may skirt recessions for now.
Published on Jan 13, 2023 06:46 PM IST
Bloomberg |

World Bank warns global economy could tip into recession this year

The World Bank noted that some inflationary pressures started to abate as 2022 drew to a close, with lower energy and commodity prices, but warned that risks of new supply disruptions were high, and elevated core inflation may persist.

The bank called for increased support from the international community to help low-income countries deal with food and energy shocks(REUTERS)
The bank called for increased support from the international community to help low-income countries deal with food and energy shocks(REUTERS)
Published on Jan 11, 2023 08:26 PM IST
Reuters | | Posted by Yagya Sharma

World food prices hit record high in 2022 despite December fall

Global Economy: The Food and Agriculture Organization's (FAO) food price index, which tracks international prices of the most globally traded food commodities, averaged 132.4 points last month.

Food prices are displayed at a market in Rio de Janeiro, Brazil.(Reuters)
Food prices are displayed at a market in Rio de Janeiro, Brazil.(Reuters)
Published on Jan 06, 2023 06:48 PM IST
Reuters |

Amazon to layoff over 18,000 employees amid ‘uncertain’ economy: CEO

Chief Executive Officer Andy Jassy announced the move in a memo to staff Wednesday, saying it followed the company’s annual planning process.

The company has acknowledged that it hired too many people during the pandemic.
The company has acknowledged that it hired too many people during the pandemic.
Published on Jan 05, 2023 08:29 AM IST
Bloomberg | | Posted by Nisha Anand

6.5% growth with sub-5% inflation key to $5 trillion economy: Govt paper

The paper has outlined 16 key factors that will drive the economy towards the goal of surpassing the economic growth of Germany and the UK.

The paper circulated in November quoted forecasts by the International Monetary Fund that India will become a $5 trillion economy in 2027-28. (ANI)
The paper circulated in November quoted forecasts by the International Monetary Fund that India will become a $5 trillion economy in 2027-28. (ANI)
Updated on Jan 02, 2023 04:48 AM IST
By, New Delhi

Skills: The new business currency

The article has been authored by Jagdish Mitra, chief strategy officer & head of growth, Tech Mahindra

The world is constantly re-inventing itself, and today technological advancements have not only redefined the way we work, interact, and connect, but have also paved the way for a better future.
The world is constantly re-inventing itself, and today technological advancements have not only redefined the way we work, interact, and connect, but have also paved the way for a better future.
Published on Jan 01, 2023 01:14 PM IST
ByHindustan Times

World economy headed for a recession in 2023: Researcher

The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research.

World economy headed for a recession in 2023: Researcher(Representational image)
World economy headed for a recession in 2023: Researcher(Representational image)
Published on Dec 26, 2022 07:07 AM IST
Bloomberg |

A purpose-driven digital transformation for nano financing

The article has been authored by Sucharita Mukherjee, co-founder & CEO, Kaleidofin which enables access to credit for nano-entrepreneurs who have limited collateral, credit history or formal cashflow statements.

Mass digitisation is one way to increase access to financial services but despite various efforts, there are still many gaps.
Mass digitisation is one way to increase access to financial services but despite various efforts, there are still many gaps.
Published on Dec 12, 2022 05:43 PM IST
ByHindustan Times

Global economy must start bracing for low inflation: Ex RBI Guv Raghuram Rajan

. “We need to assess if we didn’t recognise inflation building or we were actually waiting for our instruments to play out, wanting to preserve them for the next time.” said Raghuram Rajan, a former governor of Reserve Bank of India.

Former RBI governor Raghuram Rajan(Arijit Sen/HT Photo)
Former RBI governor Raghuram Rajan(Arijit Sen/HT Photo)
Published on Dec 02, 2022 02:44 PM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar

Global economy faced steep challenges in 2022 due to these 3 powerful forces

2023 may feel like recession for many, the IMF warned in its October ‘Cost-of-living crisis’ report.

A man walks in front of the European Central Bank in Frankfurt, Germany. (File/ Representational) (AP)
A man walks in front of the European Central Bank in Frankfurt, Germany. (File/ Representational) (AP)
Published on Nov 21, 2022 09:05 AM IST

2023 may not ‘be easy year' for businesses. Here's what's expected| Top 10

The global economy is not expected to recover soon following the aftermath of the Ukraine war and the pandemic.

(File photo/ Representational) (REUTERS)
(File photo/ Representational) (REUTERS)
Updated on Nov 18, 2022 08:11 AM IST
By, New Delhi

Global economy on the verge of a downturn amid persistent inflation: Moody's

"For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent. We expect growth to decelerate to 4.8 per cent in 2023 and then to rise to around 6.4 per cent in 2024," according to the report Global Macro Outlook 2023-24.

Global economy faces a reckoning over inflation, geopolitics and policy trade-offs. (AP)
Global economy faces a reckoning over inflation, geopolitics and policy trade-offs. (AP)
Published on Nov 11, 2022 07:33 PM IST
ANI | | Posted by Yagya Sharma

Labour shortage costing German economy $85 billion per year

With workers in high demand and inflation jumping to 10.9% last month -- German public sector staff are seeking a 10.5% pay boost, while metals workers are demanding an 8% raise.

A photo taken on October 16, 2022 shows a herd of sheep near the coal-fired power plant Neurath in Luetzerath, western Germany. (AFP)
A photo taken on October 16, 2022 shows a herd of sheep near the coal-fired power plant Neurath in Luetzerath, western Germany. (AFP)
Published on Oct 17, 2022 02:10 PM IST
Bloomberg | | Posted by Nisha Anand

Bangladesh won't face crisis like Sri Lanka: Sheikh Hasina on post-Covid economy

Hasina asserted that because of this measured approach, her country was secure on the economic front. Bangladesh did not take any loan unless it was sure that it would benefit from the project undertaken, she said.

Bangladesh prime minister Sheikh Hasina
Bangladesh prime minister Sheikh Hasina
Published on Sep 04, 2022 11:01 AM IST
ANI |

Global business travel won't see full recovery until 2026: Report

The Global Business Travel Association now projects business travel will regain its 2019 level of $1.43 trillion in mid-2026, 18 months later than predicted in the group's last forecast in November.

Business trips have become a thing of the past.(Marcus Brandt/dpa/picture alliance )
Business trips have become a thing of the past.(Marcus Brandt/dpa/picture alliance )
Published on Aug 16, 2022 06:40 AM IST
AFP |

Euro zone factory activity contracts in July amid recession fears

The U.S. economy unexpectedly contracted last quarter, raising the risk the world's largest economy was on the cusp of a recession.

"Lower than anticipated sales, reflected in accelerating rates of decline of new orders and exports, have led to the largest rise in unsold stocks of finished goods ever recorded by the survey." (File Photo)(REUTERS)
Published on Aug 01, 2022 02:54 PM IST
Reuters | | Posted by Yagya Sharma

Bill Gates donates $6 bn to Gates Foundation, days after pledging $20 bn

The donation will boost the 22 year old foundation’s annual distribution aimed at $9 billion by the year 2026, Gates had said in his personal blog published on July 13

Bill Gates attends the TIME100 Gala celebrating the 100 most influential people in the world at Lincoln Center in New York. (AP)
Bill Gates attends the TIME100 Gala celebrating the 100 most influential people in the world at Lincoln Center in New York. (AP)
Updated on Jul 26, 2022 03:56 PM IST
By | Edited by Nisha Anand

World food prices hit 10-year peak in 2021

Jumping 28% over 2021, world food prices witness a steep hike.

With the exception of dairy products, prices for all categories in the food price index eased in December, with vegetable oils and sugar falling significantly, the agency said.
With the exception of dairy products, prices for all categories in the food price index eased in December, with vegetable oils and sugar falling significantly, the agency said.
Published on Jan 06, 2022 02:50 PM IST
Reuters | , Paris

For the first time ever, world economy will top $100 trillion in 2022: Report

India looks set to overtake France next year and then Britain in 2023 to regain its place as the world's sixth-biggest economy, Cebr said.

Women pose for pictures at a shopping mall near the CCTV headquarters and China Zun skyscraper in Beijing's central business district (CBD), China, July 16, 2020. (File Photo / REUTERS)
Women pose for pictures at a shopping mall near the CCTV headquarters and China Zun skyscraper in Beijing's central business district (CBD), China, July 16, 2020. (File Photo / REUTERS)
Published on Dec 26, 2021 07:48 AM IST
Reuters |

World economy in crisis due to vaccine gap amongst nations, IMF Chief warns

The International Monetary Fund (IMF) has warned that unequal access to vaccinations is expanding the recovery gap between advanced and developing economies.

Navigating the recovery from here will require careful choices by policy makers, especially central banks, Kristalina Georgieva warned.(REUTERS)
Navigating the recovery from here will require careful choices by policy makers, especially central banks, Kristalina Georgieva warned.(REUTERS)
Published on Jul 28, 2021 08:06 PM IST
Bloomberg | | Posted by Shanza Khan

Coronavirus update- India, China possible exceptions as world economy stares at recession: UN

Covid-19 update:The report, however, did not give a detailed explanation as to why and how India and China will be the exceptions as the world faces a recession and loss in global income that will impact developing countries.

Near empty view of Jama Masjid in Delhi on day 6 of the 21-day nationwide lockdown to curb the spread of coronavirus.(Sushil Kumar/HT PHOTO)
Near empty view of Jama Masjid in Delhi on day 6 of the 21-day nationwide lockdown to curb the spread of coronavirus.(Sushil Kumar/HT PHOTO)
Updated on Mar 31, 2020 12:19 PM IST
United Nations | ByPress Trust of India
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