Growth Forecast Lowered
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RBI Slashes Repo Rate By 25 Basis Points To 5.25%, Loans To Get Cheaper
The Reserve Bank of India (RBI) has slashed its repo rate by 25 basis points from 5.5% to 5.25%, the central bank's governor Sanjay Malhotra announced this morning.
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World Bank Lowers India's Growth Forecast To 6.3 % For Fiscal Year 2025-26
The World Bank on Wednesday lowered India's growth forecast for the current fiscal by 4 percentage points to 6.3 per cent amid global economic weakness and policy uncertainty.
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IMF Lowers Global Growth Forecast, Predicts Most Will Avoid Recession
The International Monetary Fund slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.
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Accenture to Cut 19,000 Jobs Amid Concerns of Lower IT Spending Due to Global Economic Outlook
Accenture has announced it plans to cut about 2.5 percent of workforce, or 19,000 jobs, as the lowers its profit and revenue forecast for the year. The firm said more than 50 percent of the job cuts would affect staff at its non-billable corporate functions.
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Lower Growth Forecast "Very Likely" For China Amid Covid Spike: IMF Chief
A lower growth forecast is "very likely" for China this year and next, with easing Covid-19 restrictions bringing a surge in infections and temporary difficulties, IMF chief Kristalina Georgieva said.
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Zoom Annual Revenue Forecast Lowered Amid Decline in Online Business, Rising Inflation
Zoom on Monday stated that it had cut its annual revenue forecast amid a decline in online business. The company's CFO Kelly Steckelberg said that Zoom's online business would decline nearly 8 percent during the year. The easing of pandemic-related restrictions across the world is also weighing on its business as people started spending less time o...
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PayPal Shares Dropped Nearly 6 Percent as Company Warned About Bleak Holiday Quarter
PayPal Holdings shares dropped nearly 6 percent in morning trade on Friday after the digital payments heavyweight lowered its annual revenue forecast, warning of a bleak holiday quarter as consumers cut back on discretionary spends. Decades-high inflation has hit the purchasing power of consumers who also have to contend with the threat of a loomi...
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EA Lowers Annual Booking Forecast for 2022 Amid Decades-High Inflation, Strong Dollar
Electronic Arts has lowered its annual bookings forecast, amid the rising dollar and a fall in demand for games during the ongoing coronavirus pandemic. While research suggests that the gaming market is expected to grow just 2 percent in 2022, Apex Legends creator EA had no major releases in the first three quarters of 2022, until FIFA 23 was launc...
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Microsoft Forecasts Spook Investors as Firm Reports Lowest Revenue in Five Years
Microsoft on Tuesday projected that revenues for the current quarter would be lower than estimates across cloud and PC business units, as the company reported the lowest revenue growth in five years. The company's cloud business, Microsoft Azure, saw growth fall to 35 percent and the firm expects a further drop in the current quarter.
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"Like Living In North Korea": China Daily Power Cuts Hit Homes, Factories
Goldman Sachs Tuesday lowered its annual economic growth forecast for China as nationwide power cuts hit millions of homes and halted production at factories, including some supplying Apple and Tesla.
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RBI Slashes Repo Rate By 25 Basis Points To 5.25%, Loans To Get Cheaper
The Reserve Bank of India (RBI) has slashed its repo rate by 25 basis points from 5.5% to 5.25%, the central bank's governor Sanjay Malhotra announced this morning.
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World Bank Lowers India's Growth Forecast To 6.3 % For Fiscal Year 2025-26
The World Bank on Wednesday lowered India's growth forecast for the current fiscal by 4 percentage points to 6.3 per cent amid global economic weakness and policy uncertainty.
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IMF Lowers Global Growth Forecast, Predicts Most Will Avoid Recession
The International Monetary Fund slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns.
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Accenture to Cut 19,000 Jobs Amid Concerns of Lower IT Spending Due to Global Economic Outlook
Accenture has announced it plans to cut about 2.5 percent of workforce, or 19,000 jobs, as the lowers its profit and revenue forecast for the year. The firm said more than 50 percent of the job cuts would affect staff at its non-billable corporate functions.
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Lower Growth Forecast "Very Likely" For China Amid Covid Spike: IMF Chief
A lower growth forecast is "very likely" for China this year and next, with easing Covid-19 restrictions bringing a surge in infections and temporary difficulties, IMF chief Kristalina Georgieva said.
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Zoom Annual Revenue Forecast Lowered Amid Decline in Online Business, Rising Inflation
Zoom on Monday stated that it had cut its annual revenue forecast amid a decline in online business. The company's CFO Kelly Steckelberg said that Zoom's online business would decline nearly 8 percent during the year. The easing of pandemic-related restrictions across the world is also weighing on its business as people started spending less time o...
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PayPal Shares Dropped Nearly 6 Percent as Company Warned About Bleak Holiday Quarter
PayPal Holdings shares dropped nearly 6 percent in morning trade on Friday after the digital payments heavyweight lowered its annual revenue forecast, warning of a bleak holiday quarter as consumers cut back on discretionary spends. Decades-high inflation has hit the purchasing power of consumers who also have to contend with the threat of a loomi...
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EA Lowers Annual Booking Forecast for 2022 Amid Decades-High Inflation, Strong Dollar
Electronic Arts has lowered its annual bookings forecast, amid the rising dollar and a fall in demand for games during the ongoing coronavirus pandemic. While research suggests that the gaming market is expected to grow just 2 percent in 2022, Apex Legends creator EA had no major releases in the first three quarters of 2022, until FIFA 23 was launc...
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Microsoft Forecasts Spook Investors as Firm Reports Lowest Revenue in Five Years
Microsoft on Tuesday projected that revenues for the current quarter would be lower than estimates across cloud and PC business units, as the company reported the lowest revenue growth in five years. The company's cloud business, Microsoft Azure, saw growth fall to 35 percent and the firm expects a further drop in the current quarter.
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"Like Living In North Korea": China Daily Power Cuts Hit Homes, Factories
Goldman Sachs Tuesday lowered its annual economic growth forecast for China as nationwide power cuts hit millions of homes and halted production at factories, including some supplying Apple and Tesla.
