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☆ Jeff Bezos Says It’s Time to ‘Batten Down the Hatches’ as Economy Cools
  + stars: | 2022-10-19 | by ( Joseph De Avila | ) www.wsj.com   time to read: 1 min
Jeff Bezos said the economy is flashing warning signs, joining other corporate leaders who have cautioned that the U.S. is headed for a recession. The Amazon.com Inc. founder suggested that people should get ready for a potential economic downturn. His comment came in response to a video clip from Goldman Sachs Group Inc. Chief Executive David Solomon , who said companies should be cautious and prepared in the event the U.S. enters a recession.
☆ Jeff Bezos is the latest to warn on the economy, saying it's time to 'batten down the hatches'
  + stars: | 2022-10-19 | by ( Jeff Cox | ) www.cnbc.com   time to read: +2 min
Amazon founder Jeff Bezos has become the latest corporate leader to warn about the state of the economy, cautioning that rougher times are likely ahead. "Yep, the probabilities in this economy tell you batten down the hatches," Bezos said in a comment attached to a clip of Solomon's "Squawk Box" interview. Solomon, the head of the Wall Street financial giant, said it's time for both corporate leaders and investors to understand the risks building up, and to prepare accordingly. Solomon spoke after his firm had just posted quarterly earnings results that beat Wall Street estimates. Moynihan acknowledged that the Fed's efforts could slow the economy, but noted that "the consumer's hanging in there."
☆ Bezos says Americans should prepare for a recession
  + stars: | 2022-10-19 | 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 EmailBezos says Americans should prepare for a recessionCNBC’s Andrew Ross Sorkin joins Shep Smith to discuss inflation and Jeff Bezos’ comments that the economy will soon tell us to ‘batten down the hatches.’
☆ Amazon founder Jeff Bezos warns the US economy may slump into a recession - and says people should brace for a painful downturn
  + stars: | 2022-10-19 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Jeff Bezos said the US economy faces a significant risk of recession. "In the distribution of outcomes, there's a good chance we could have a recession in the United States," Solomon said. Recession fears have grown in recent months, partly because the Federal Reserve is actively trying to cool the US economy. Amazon CEO Andy Jassy, who took the company's reins from Bezos last summer, appears to share his predecessor's concerns. Amazon has been cutting costs, slowing spending, and freezing hiring for certain roles in recent months, suggesting it's expecting a tougher economic backdrop.
☆ What recession? JPMorgan is growing headcount and standing firm on its plans to spend big on tech despite its own CEO's recession warnings.
  + stars: | 2022-10-14 | by ( Carter Johnson | Emmalyse Brownstein | ) www.businessinsider.com   time to read: +4 min
JPMorgan CEO Jamie Dimon sounded the recession alarm earlier this week, saying he sees one in 6 to 9 months. But on Friday, the bank said it's growing headcount and moving forward with aggressive spending plans. But notable among JPMorgan's financial figures was headcount growth. This quarter, headcount overall at the bank was 9% higher than the same time last year, at roughly 288,000 employees worldwide. The growth in employees at JPMorgan came in contrast to Wells Fargo, which also reported earnings Friday.
☆ IMF cuts 2023 growth outlook amid colliding global shocks
  + stars: | 2022-10-11 | by ( David Lawder | ) www.reuters.com   time to read: +4 min
The Fund is keeping its 2022 growth forecast at 3.2%, reflecting stronger-than-expected output in Europe but a weaker performance in the United States, after torrid 6.0% global growth in 2021. The IMF kept its 2023 U.S. growth forecast unchanged at 1.0%. The Fund forecast headline consumer price inflation peaking at 9.5% in the third quarter of 2022, declining to 4.7% by the fourth quarter of 2023. A "plausible combination of shocks" including a 30% spike in oil prices from current levels could darken the outlook considerably, the IMF said, pushing global growth down to 1.0% next year - a level associated with widely falling real incomes. The appropriate policy for most was prioritizing monetary policy for price stability, letting currencies adjust and "conserving valuable foreign exchange reserves for when financial conditions really worsen."
☆ Bank stocks, once a Buffett favorite, take a back seat at Berkshire Hathaway amid recession worries
  + stars: | 2022-04-28 | by ( Hugh Son | ) www.cnbc.com   time to read: +5 min
In this article BRK.A Follow your favorite stocks CREATE FREE ACCOUNTWarren Buffett, Chairman and CEO of Berkshire Hathaway. David A. Grogan | CNBCWarren Buffett has begun to unleash Berkshire Hathaway 's massive cash stockpile in recent weeks, snapping up an insurer and multi-billion dollar stakes in energy and computer corporations. Like another top Buffett industry — railroads — banks are part of the infrastructure of the country, a nation he continually bets on. (Watch the 2022 Berkshire Hathaway annual shareholders meeting live on Saturday, April 30 at 9:45 a.m. Despite the industry becoming significantly cheaper to own, Buffett reversed many of his wagers, unloading JPMorgan, Goldman and Wells Fargo.
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