Growth Forecast Lowered

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.

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.

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.

The ratings agency now projects real gross domestic product growth of 3.8% next year, down from its previous forecast of a 4.1% expansion.

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...

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...

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...

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.

Goldman Sachs has revised lower its growth projections for India after the April-June quarterly gross domestic product readings missed market estimates.

The IMF is in the process of revising India's growth projection for 2022, which could be lower than its earlier forecast of 8.2 per cent, amid risks of a global stagflation, a senior official of the international organisation said on Tuesday.

Morgan Stanley has lowered its forecasts for India's economic growth in the next two fiscal years, saying a global slowdown, surging oil prices and weak domestic demand would take a toll on Asia's third-largest economy.

India Ratings has lowered its GDP growth forecast for FY23 to 7-7.2 per cent, from 7.6 per cent earlier, citing the rising uncertainty over the Russia-Ukraine war and the resultant dampening of consumer sentiment.

Fitch Ratings has lowered India's GDP forecast to 8.7 per cent for the current financial year due to the second wave of the Coronavirus pandemic

The Wall Street banking giant has lowered forecasts for China's economy to 4.8 per cent in the third quarter and 3.2 per cent in the fourth quarter of 2021

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.

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.

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.

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.

The ratings agency now projects real gross domestic product growth of 3.8% next year, down from its previous forecast of a 4.1% expansion.

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...

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...

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...

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.

Goldman Sachs has revised lower its growth projections for India after the April-June quarterly gross domestic product readings missed market estimates.

The IMF is in the process of revising India's growth projection for 2022, which could be lower than its earlier forecast of 8.2 per cent, amid risks of a global stagflation, a senior official of the international organisation said on Tuesday.

Morgan Stanley has lowered its forecasts for India's economic growth in the next two fiscal years, saying a global slowdown, surging oil prices and weak domestic demand would take a toll on Asia's third-largest economy.

India Ratings has lowered its GDP growth forecast for FY23 to 7-7.2 per cent, from 7.6 per cent earlier, citing the rising uncertainty over the Russia-Ukraine war and the resultant dampening of consumer sentiment.

Fitch Ratings has lowered India's GDP forecast to 8.7 per cent for the current financial year due to the second wave of the Coronavirus pandemic

The Wall Street banking giant has lowered forecasts for China's economy to 4.8 per cent in the third quarter and 3.2 per cent in the fourth quarter of 2021

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.