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Economists are sounding the alarm bells about a likely recession in 2023.Insider spoke to five personal finance experts to get their tips on preparing for a downturn. Insider spoke to five personal finance experts to uncover the key steps to help you bulletproof your finances ahead of a rocky new year. "Drop-shipping" — acting as an intermediary between a supplier and customers – affiliate marketing, and earning advertising income from websites are some ways you can build passive income streams. Olamide Majekodunmi, founder of All Things Money, a financial education blog for millennials, said it's important not to sink too many up-front costs into passive income streams in the hope they'll bear fruit. And Chen said it still takes lots of work to get to a point where you can enjoy passive income.

☆ Asia markets set to trade lower as recession fears grow
▼ + stars: | 2022-12-16 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Next year's story for the stock market is all about earnings, which are going to fall significantly, said Morgan Stanley's Mike Wilson. That rapidly slowing growth isn't priced into the market yet, he said in an interview with "Squawk Box" Thursday. "That negative operating leverage that we see from that falling inflation… is what is going to hurt margins, and that's irrespective of whether there is an economic recession." He's predicting 11% decline in year-over-year growth for S&P 500 companies next year. While his year-end target for the index is 3,900, he anticipates it will drop to between 3,000 and 3,300 in the first quarter.

☆ Premarket stocks: Why we think we're in a recession when the data says otherwise
▼ + stars: | 2022-12-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN Business —It seems like you can’t go anywhere these days without colliding headfirst into another ominous prediction of imminent recession. But hidden behind those “CEO PREDICTS RECESSION” headlines lies a lot of uncertainty. “If I didn’t watch CNBC in the morning, the word ‘recession’ wouldn’t be in my vocabulary,” he said. “You just can’t see it in our data.”It’s almost as though Kirby predicted recession was imminent because other prominent voices predicted that recession was imminent. More than 10,000 ambulance workers represented by the GMB Union will strike again on December 28.

☆ Why Amazon CEO Andy Jassy didn't immediately say 'yes' when Jeff Bezos offered him the role
▼ + stars: | 2022-12-01 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

But when Amazon founder Jeff Bezos asked Andy Jassy to take over as CEO last year, Jassy didn't immediately say "yes." Before becoming Amazon's CEO, Jassy ran the company's Amazon Web Services division, and had no plans to change his career path. "I've been at Amazon for 25 years," Jassy, 54, said at The New York Times' 2022 DealBook Summit. So, instead of immediately taking the lauded position, Jassy asked Bezos if he could go home and talk about it with his wife. He and Bezos worked closely together to launch Amazon Web Services in 2006, which Jassy went on to lead for the next 15 years.

☆ Junk-Rated Companies Face Greater Downgrade Risks as Economy Slows
▼ + stars: | 2022-11-25 | by ( Mark Maurer | ) www.wsj.com time to read: +6 min

Each of these companies was downgraded by at least one ratings firm in recent weeks. At the same time, the economy has been losing steam, resulting in lower earnings and darkening the outlook for companies, especially in consumer-facing sectors. Credit downgrades can drive up financing costs for companies and cause executives to take additional action such as reducing debt loads. There were 33 S&P downgrades in September, the most in a single month since June 2020. Businesses without immediate refinancing needs, however, tend to see less of a direct impact from credit downgrades.

☆ VC firm IVP warns startups to 'surgically pare down expenses' with a looming recession. Here's the deck it shared with execs.
▼ + stars: | 2022-11-24 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

In a new presentation, the VC firm IVP tells startup leaders to batten down the hatches. Insider has exclusive access to the firm's deck, titled, "Thriving in a Bear Market: A CFO's Guide." That has ripple effects for venture-backed, private companies that rely on outside investment to operate and grow. In the first half of 2022, venture firms raised $83 billion in new funds — the highest amount over a six-month period for the industry, according to a recent report by Silicon Valley Bank. "The market environment is definitely going to favor companies with real market differentiation," Vashee said.

☆ Amazon's layoff meltdown: Inside a week of turmoil when thousands lost their jobs.
▼ + stars: | 2022-11-19 | by ( Katherine Long | ) www.businessinsider.com time to read: +11 min

"I just don't know how to tell this news to my kids," one employee wrote. "At some point we have to stop calling them leadership," another employee wrote. In a memo to employees, Amazon's devices chief, Dave Limp, pinned the layoffs on an adverse economic climate. A new breaking point for corporate employeesIndeed, some Amazon employees had already reached a breaking point. On Discord, a small group of Amazon employees began broaching a taboo topic: Unionizing.

☆ Amazon's retail teams told to scale back holiday parties in new, frugal push
▼ + stars: | 2022-11-17 | by ( Katherine Long | ) www.businessinsider.com time to read: +2 min

Amazon on Thursday told leaders on its retail team not to hold elaborate holiday parties this year. In more evidence of Amazon's new focus on cost-cutting, leaders of its retail division have been instructed to scale back holiday parties, according to an email sent Thursday by the company's finance department. This week, the company embarked on an unprecedented wave of corporate layoffs, primarily affecting its devices, retail, and human resources divisions. Holiday parties are not immune to the cuts. The email clarified that elaborate holiday parties could "send the wrong signals to the team" in the midst of large-scale layoffs and other cost-cutting measures underway at Amazon.

☆ Bezos urges consumers and business owners to reduce risk in the face of a likely recession
▼ + stars: | 2022-11-14 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

Amazon founder Jeff Bezos once again warned of the challenges of an economic recession, telling consumers and small business owners they should reduce their risk by hanging onto cash and delaying big purchases. "The probabilities say if we're not in a recession right now, we're likely to be in one very soon," Bezos said in an interview with CNN released on Sunday. "My advice to people whether they're small business owners is take some risk off the table. The comments build on Bezos' warning last month that it was time to "batten down the hatches." He added that consumers and business owners should "play the probabilities for a bit" by keeping cash on hand and delaying buying a new TV, car or piece of equipment.

☆ Amazon layoffs: Company plans to lay off thousands of employees, New York Times reports
▼ + stars: | 2022-11-14 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN Business —Amazon is planning to lay off some 10,000 employees in corporate and technology jobs, the New York Times reported on Monday, citing anonymous sources with knowledge of the matter. Amazon did not immediately respond to CNN Business’ request for comment Monday. The Wall Street Journal also reported Monday that Amazon is set to lay off thousands of workers, citing a person familiar with the matter. In its most-recent earnings report, however, Amazon forecast its revenue for the holiday quarter would be lighter than analysts had expected. News of potential layoffs comes at a crucial time for the retail industry, ahead of the holiday shopping season.

☆ Jeff Bezos for the first time says he will give most of his money to charity
▼ + stars: | 2022-11-14 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

Though Bezos’ vow was light on specifics, this marks the first time he has announced that he plans to give away most of his money. “I just feel honored to be able to be a part of what they’re doing for this world,” Bezos told CNN. Bezos has committed $10 billion over 10 years, or about 8% of his current net worth, to the Bezos Earth Fund, which Sánchez co-chairs. The economic downturnWhile Bezos and Sánchez plot out their plans for Bezos’ immense wealth, many people of more modest means are bracing for what economists fear may be an extended economic downturn. CNN recently reported that Bezos and Jay-Z are in talks on a potential joint bid on the Washington Commanders.

☆ Jeff Bezos' top tips for managing the economic downturn
▼ + stars: | 2022-11-14 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington CNN Business —Amazon founder Jeff Bezos recently warned consumers and businesses they should consider postponing large purchases in the coming months as the global economy contends with a downturn and faces a possible recession. The business leader offered his starkest advice yet on a faltering economy in an exclusive sit-down interview with CNN’s Chloe Melas on Saturday at Bezos’ Washington, DC, home. Meanwhile, small businesses may want to avoid making large capital expenditures or acquisitions during this uncertain time, Bezos added. If enough consumers follow through with Bezos’ advice, it could mean lower sales for Amazon, the e-commerce giant Bezos founded and that created the vast majority of the billionaire’s wealth. Bezos said the probability of economic conditions worsening makes it prudent to save some cash if it’s an option.

☆ Jeff Bezos’ top tips for managing the economic downturn
▼ + stars: | 2022-11-14 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

☆ U.S. job growth beats expectations in October, but cracks emerging
▼ + stars: | 2022-11-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"The report to us looks like payroll jobs growth will falter in coming months as companies batten down the hatches as the Fed continues to take away the economy's punch." The survey of establishments showed nonfarm payrolls increased 261,000 last month. Still, the labor market remains tight, with 1.9 job openings per unemployed person at the end of September. The increase in the unemployment rate from 3.5% September reflected a 328,000 decline in household employment. "The hope is that the labor market is merely returning to a more normal pace, rather than sitting dead in the water."

☆ Batten Down The Hatches: Preparing Your Portfolio For A Recession
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBatten Down The Hatches: Preparing Your Portfolio For A RecessionAfter a year of market madness and rising interest rates, and a possible recession on the horizon, we'll examine ways in which to adjust your portfolio to ride out a potential storm.

☆ With the Dow outperforming, here's how investors can harness the stock index
▼ + stars: | 2022-10-31 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Of the three major stock market indices, investors currently favor the Dow Jones Industrial Average – particularly in the wake of last week's dismal quarterly reports by mega cap tech firms and the subsequent sell off. So, given this backdrop, how can investors harness an outperforming Dow when constructing their portfolio? The simplest approach would be to look at the companies that comprise the index and pick those with further room to run. Here's a rundown of how we measure our portfolio against the Dow across health-care, finance and semiconductor stocks. Photo taken on March 1, 2022 shows monitors displaying stock market information at the New York Stock Exchange in New York, the United States.

☆ Jim Cramer: The tech tyranny is over. These are the stocks driving this market
▼ + stars: | 2022-10-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

The money went to the stocks of companies who buy their shares in the open market the way Silicon Valley issues it. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Analysts remain confident in Amazon long term as shares crater, expect 'redemption story' ahead
▼ + stars: | 2022-10-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Amazon 's disappointing quarterly results signaled to analysts that even the giants aren't immune to a macro slowdown. Analysts trimmed price targets and estimates to reflect a broader macro slowdown at the e-commerce giant following the results, with analysts at Deutsche Bank and Wolfe Research saying it's time to "batten down the hatches." However, most analysts remain bullish on the company's long-term trajectory, maintaining their outperform and buy ratings on the stock. That said, analysts across the board trimmed price targets and estimates to reflect the broader macro pressures. He trimmed his price target on the stock to $137 from $157 a share, suggesting 23% upside ahead for the stocks.

☆ These 'all-weather' stocks can protect your portfolio in a recession, says outperforming fund manager
▼ + stars: | 2022-10-27 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

Fund manager Brian Arcese also believes the U.S. is headed for a recession — albeit one that is milder than the devastating global financial crisis of 2008. Investors who want to be "recession proof" should have a balanced portfolio, he added. "A balanced portfolio is one that is practical and designed to be all-weather," said the portfolio manager at Foord Asset Management, who co-manages the Foord International Fund and the Foord Global Equity Fund. He likens his strategy to a barbell approach of growth-oriented names and value stocks, as well as stocks that fall in between the growth and value spectrum. The fund is down 5.8% as at end-September — beating the global stock market, which declined 25.2%, according to the fund's commentary.

☆ Goldman CEO David Solomon warns a US recession is very likely - and says the Fed could hike rates above 4.5%
▼ + stars: | 2022-10-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Goldman Sachs CEO David Solomon said the US economy is likely to tumble into a recession. He warned Tuesday the Federal Reserve could hike rates above 4.5% if the inflation threat persists. The first big shift in monetary policy for four decades was bound to be disruptive, Solomon said. The Goldman chief issued a gloomy economic outlook earlier this month, prompting Amazon founder Jeff Bezos to voice his agreement. "In the distribution of outcomes, there's a good chance we could have a recession in the United States," Solomon said.

☆ How Amazon's warehouse empire reshaped the nation — and the US workforce
▼ + stars: | 2022-10-21 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +5 min

Today, we're exploring the new Insider project Warehouse Nation, and specifically, Amazon's role. The tech giant has made efficiency the cornerstone of its business, and this series examines how that's reshaped the nation and its workforce. Plus, this week has shown us that Elon Musk and Jeff Bezos have pretty much opposite views on the state of the economy (no surprise there). Elon Musk told investors that he planned to get rid of nearly 75% of Twitter's 7,500 workers, according to The Washington Post. Jeff Bezos thinks it's time to "batten down the hatches," while Elon Musk says Tesla is "pedal to the metal" on production.

☆ Elon Musk says a global recession could last until the spring of 2024
▼ + stars: | 2022-10-21 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Tesla founder and CEO Elon Musk thinks the global economic decline can last for another year and a half. In a Twitter exchange early Friday morning Eastern time, the mercurial electric car executive and world's richest man said a recession could continue "until spring of '24." i [sic] guess all we have to worry about now is the impending global recession and nuclear apocalypse." "It sure would be nice to have one year without a horrible global event," Musk replied. However, he said China is in "quite a burst of a recession of sorts" driven by the real estate market, while Europe "has a recession of sorts, driven by energy."

☆ Jeff Bezos says it's time for companies to 'batten down the hatches' as a recession looms, but Elon Musk says Tesla is 'pedal to the metal' with no plans to cut production
▼ + stars: | 2022-10-20 | by ( Grace Kay | Tim Levin | ) www.businessinsider.com time to read: +4 min

Elon Musk said Tesla is "pedal to the metal" whether there's a recession or not on Wednesday. The Tesla CEO said the carmaker has no plans to slow ambitious production targets. Jeff Bezos warned on Tuesday companies should "batten down the hatches" amid an economic downturn. Earlier this week, Amazon founder Jeff Bezos warned that companies should be cautious and prepare for an economic downturn. Meanwhile, Tesla CEO Elon Musk expressed a different sentiment on Wednesday.

☆ Premarket stocks: The Fed isn't about to back down from its inflation fight
▼ + stars: | 2022-10-20 | by ( Julia Horowitz | ) edition.cnn.com time to read: +5 min

A version of this story first appeared in CNN Business’ Before the Bell newsletter. London CNN Business —Twelve days from now, the Federal Reserve will meet again, and expectations for the central bank’s next moves are firming up. The consensus among investors: Persistently hot inflation means the Fed will need to continue with its string of aggressive interest rate hikes, which is unprecedented in the modern era. In an interview with Reuters on Friday, St. Louis Fed President James Bullard said inflation had become “pernicious,” which means that “frontloading” larger rate hikes is logical. But with two quarters of disappointing deliveries caused by supply chain issues and Covid-related shutdowns in China, that goal has looked increasingly out of reach, my CNN Business colleague Chris Isidore reports.

☆ Even the uber-rich are fretting about the economy now
▼ + stars: | 2022-10-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN Business —Even the uber-rich are on edge now about the economy. Musk, for his part, was a little more sanguine as he sought (unsuccessfully, in the end) to ease Wall Street’s concerns about Tesla’s growth prospects. Yep, the probabilities in this economy tell you to batten down the hatches. The comments from Musk and Bezos add to a chorus of powerful figures fretting that the economy is going to take a turn for the worse. I want to know.”It’s a reasonable worry: Researchers recently put the probability of a global recession at a little over 98%.

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