As the rising cost of living eats away at people's wages, the UK is experiencing its largest reduction in living standards ever. After accounting for growing costs, the government's forecaster predicted that household incomes would decline by 7 per cent over the following few years.

Economy already in recession and set to shrink further next year: UK chancellor

The UK Chancellor Jeremy Hunt is spending his Friday defending his autumn statement. On Thursday, he announced a series of tax increases and tighter public spending in a plan presented to the House of Commons in London.

OBR: UK's living standards to fall by 7%, millions still face higher bills | Recession

Nine months after beginning its military offensive in Ukraine, Russia has entered a recession as a result of the economic pressure caused by Western sanctions, according to official figures released on Wednesday.

Russia officially enters recession, GDP shrinks 4% in third quarter

Amazon has become the latest major tech company to announce layoffs. Can job cuts in the Silicon Valley trigger a recession?

Gravitas: Will a recession begin from the Silicon Valley?

In the United States it is still unclear who will win the race to hold Congress so whether it is going to be the democrats or would it be the Republicans but one thing which seems to have influenced the voters is the state of the economy and the fear of the recession. Watch the video to know what President Joe Biden has to say on the issue.

US not anywhere near recession: President Joe Biden on state of economy | Latest News | WION

According to Barclaycard, almost half of Britons plan to cut down on Christmas gifts to try to save money amid the biggest cost of living crisis in the country.

48 percent people plan to spend less this Christmas, says Barclaycard

While supply chain issues are hampering the auto industry output, Mercedes posts profits beating recession fears. Watch this report.

WION Dispatch: Mercedes posts profits beating recession fears

South Korea's SK Hynix Inc warned on Wednesday of an "unprecedented deterioration" in memory chip demand, deepening fears of global recession, and said it would slash investment after quarterly profit tumbled 60%.

Chipmaker SK Hynix to halve investment amid looming recession

At the time of record high inflation, reports indicate that nearly 70% percent of Singaporeans are concerned about higher household expenses. According to a survey, this increase of 11 percentage points from last year is mainly the result of rising inflation.

WION Business News | Recession fears: 70% of Singaporeans concerned

Fitch Ratings on Tuesday presented another gloomy report by suggesting that the US economy may witness a 1990-style mild recession, starting spring next year. A combination of stubborn inflation and the US Central Bank's three consecutive interest rate hikes will lead to such a recession, explained the credit rating agency.

US economy may sink into mild recession next spring, reminiscent to 1990: Fitch Ratings

The IMF has revised its economic projections for 2023. It forecasts a lower GDP but says a recession is not likely. However, it warns that 2023 will feel like a recession for many people. Priyanka Sharma tells you more.

Gravitas: IMF reduces 2023 GDP outlook

UK economy unexpectedly shrank in August after growth the previous month. According to the Office for National Statistics, gross domestic product contracted by 0.3 percent in August.

UK: Economy shrinks 0.3% in August

The International Monetary Fund (IMF) said that the global economic growth is expected to slow down by almost 0.2 percentage points in comparison to its July forecast. According to the latest data, the global economy will grow by 2.7 percent in 2023 resulting in recession in some countries.

IMF cuts global growth forecast for 2023, warns ‘the worst is yet to come’

A top executive has warned that the US could enter a recession in the next 6 to 9 months. Molly Gambhir tells you how the US economy is flashing warning signs.

Gravitas | Top Executive: US Recession in 6 to 9 months

JP Morgan Chase CEO Jamie Dimon has predicted that the United States and global economy would plunge into a recession next year. He was speaking with CNBC when he made the prediction.

US economy to dip into recession next year: JP Morgan CEO Jamie Dimon

JPMorgan Chase and chief executive officer Jamie Dimon warned Monday that a serious mix of headwinds will likely send the United States into a recession in the next six to nine months.

World Business Watch: 'US recession in six to nine months', warns JPMorgan's CEO Dimon

Another global executive has joined the chorus of fears of global recessions. This time the warning has come from JPMorgan Chase CEO Jamie Dimon who said serious headwinds are likely to push the US and Global economies into recession by the middle of next year.

JPMorgan's CEO warns on US recession

Renault CEO Luca de Meo warns of a global recession. He said the business world was bracing for a possible recession, adding that the French carmaker is strong enough to be able to weather that "storm."

World Business Watch: Renault CEO Luca de Meo warns of a global recession

Many financial institutions have predicted that the world is headed for another recession. As rising inflation leads to a hike in interest rates, companies across the world have announced a freeze in hiring and planning to downsize their staff.

Five signs why global economy is headed for recession

Raising the risk of a technical recession, factory activity in Singapore has contracted for the first time since 2020. This was the second month of contraction in the electronics sector.

World Business Watch: Singapore factory activity contracts for first time since 2020

The United States economy shrank in the first half of this year, confirming concerns about a general downturn that might trigger a recession. At the same time, a measure that frequently indicates the rate of layoffs—the number of persons applying for unemployment benefits—fell to a five-month low.

Explained: Early signs of a recession; who decides if it's officially begun?

World Bank President David Malpass has warned that it could take years for global energy to diversify away from Russia after its invasion of Ukraine, prolonging the risk of stagflation, or a period of low growth and high inflation.

WION Business News | Recession: World Bank President Malpass sees risk of stagflation

As the pound continues to hit an all-time low against dollar, the Bank of England (BOE) on Wednesday announced that it will be temporarily buying bonds to calm the jangling nerves of the market.

As pound slips, Bank of England steps in to buy bonds and restore parity

Let us take a look at stories generating interest across WION's social media channels.

Trending on WION | Study: India might see double-digit salary increase in 2023

recession

Recession, News on Recession, stories on Recession, articles on Recession, Recession stories at Wion, Recession news, Recession latest news