Economy

CEOs are preparing for a recession, and they don’t think it will be short

CEOs are preparing for a recession, and they don’t think it will be short

New York CNN Business — Top CEOs are not buying the idea that the US economy could experience a soft landing after a series of historically large interest rate hikes by the Federal Reserve to fight inflation. According to a survey by the consulting firm KPMG of 400 executives of large American companies, 91% of …

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How Apple’s iPhone Exports Boost Prime Minister Modi’s ‘Alternative China Plan’

How Apple’s iPhone Exports Boost Prime Minister Modi’s ‘Alternative China Plan’

Apple Inc.’s iPhone exports from India have topped $1 billion in the five months since April, people familiar with the matter say, signaling the South Asian nation is making progress in its bid to become a force in the manufacture of electronic products. At the current rate, outbound shipments of Indian-made iPhones, mostly to Europe …

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Gray nomads help fill shortage of skilled workers during sugar cane harvest in North Queensland

Gray nomads help fill shortage of skilled workers during sugar cane harvest in North Queensland

It was sheer luck that brought former miner Steven Fry to Burdekin Shire, about 100 kilometers southeast of Townsville, to work as a cane harvester. This is the 59-year-old’s first time participating in seasonal work, and he is one of a growing number of Gray Nomads filling a shortage of skilled workers in the area. …

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Companies see ‘light at the end of the tunnel’ – NZIER survey

Companies see ‘light at the end of the tunnel’ – NZIER survey

The retail sector was the most depressed of the sectors surveyed. Photo/NZME According to a new survey by the New Zealand Institute of Economic Research, companies are beginning to see a “light at the end of the tunnel”. The latest quarterly business opinion survey (QSBO), published this morning showed that sentiment was improving. “Companies are …

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Market close: New Zealand stocks jump, Australian central bank surprises

Auckland International Airport rose 21.5c or 3% to $7.37. Photo/Alex Burton New Zealand’s stock market rallied, led by Auckland International Airport and Spark, as Wall Street rebounded strongly from the depths of its lowest prices in two and a half years. The The S&P/NZX 50 index rose at the open and stayed there, gaining 130.58 …

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Britain’s financial crisis could be a warning for the global economy

There is a very real contradiction which has developed between monetary and fiscal policies in large parts of the world and it is this contradiction which the experience of the United Kingdom has highlighted and which has manifested itself in a plummeting sterling exchange rate and a spike in UK bond yields. The Bank of …

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RBA returns to 0.25% rate hike ‘business as usual’

“The board expects to raise interest rates further in the period ahead. It is closely monitoring the global economy, household spending and wage and price setting behavior. Mortgage repayment affected The totality of the RBA’s recent rate hikes reached 2.5 percentage points, which was the mandatory service buffer used for nearly 200,000 first-time home buyers …

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Samsung says to triple production of advanced chips by 2027 | Business and economy

The world’s No. 2 foundry sees strong demand for chips used in high-performance computers and artificial intelligence. Samsung Electronics’ contract chip manufacturing business has announced plans to more than triple its production capacity for advanced chips by 2027 to meet strong demand, despite the current global economic headwinds. The world’s second-largest foundry after Taiwan Semiconductor …

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