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Economic growth sank to 0.8 percent in the three months ending in June compared with the previous quarter, down from the January-March period’s 2.2 percent.
On Thursday, the government reported that the economy expanded at just a 1.1% annual rate in the January-March quarter, much less than the 2.6% growth in the previous quarter, a sign the Fed's hikes are starting to slow growth.
Source: https://www.startribune.com/inflation-pressures-remain-persistent-as-consumers-pull-back/600270843/
Still, he said: “The movement of a weaker (yen) is unlikely to become a trend, partly because expectations remain for a policy revision for January-March next year.”
Source: https://business.inquirer.net/437795/yen-tumbles-as-boj-sticks-with-ultra-loose-policy
The company posted a net loss of Rs 4,249 crore in the January-March quarter of the last fiscal.
The Finland-based company reported net profit of €342million (£300million) for the January-March period, down 18% from €416million a year earlier.
The Gross Domestic Product (GDP) had expanded by 4 per cent in the January-March period of 2021-22, according to data released by the National Statistical Office (NSO).
The layoffs will cause a charge of $300 million in the January-March period to the company, according to IBM Chief Financial Officer James Kavanaugh.
Source: https://www.canindia.com/tech-major-ibm-lays-off-3900-employees-bets-big-on-hybrid-cloud-ai/
The new data from ONS shows that the UK’s jobless rate rose to 3.9% in the January-March quarter - it was at 3.8% a month earlier.