Germany fell into a recession around the turn of the year, official figures published Thursday showed, as Europe’s largest economy contracted by 0.3 percent over the first three months of 2023. The negative growth figure was revised down by the federal statistics agency from an initial estimate of zero percent. The poor performance was the […]
recession
As recession looms, Airbnb CEO wants your home to make money
After years of trying to expand into other sectors, the CEO of holiday home giant Airbnb, wants to get back to the basics: helping people make money. “I had tried to create too many things at the same time,” explained Brian Chesky to AFP. “Then the pandemic occurred. We had to get back to our core business,” […]
UK economy on brink of recession as it shrinks in August
LONDON: Britain’s economy looks set to go into recession as data showed it unexpectedly shrank in August, underscoring the challenge for Prime Minister Liz Truss to make good on her promises to speed up growth. Weakness in manufacturing and maintenance work in North Sea oil and gas fields contributed to a 0.3% fall in gross […]
Oil plunges to eight-month low on recession fears
Oil prices plunged about 5% to an eight-month low on Friday as the U.S. dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession. Brent futures were down $4.35, or 4.8%, to $86.11 a barrel by 10:09 a.m. EDT (1409 GMT), while U.S. […]