Business

Uber not planning layoffs: CEO

Ride-hailing giant Uber is not planning any company-wide layoffs, the US firm's boss said Thursday, bucking the downsizing trend in the tech sector.

Automotive

Tesla slashes vehicle prices up to 20% in US, Europe

Tesla on Friday announced it will cut the price of its best-selling electric vehicle models up to 20 percent in Europe and the United States, launching a price war as more rivals hit the market.

Business

Report: Amazon freezes hiring on corporate retail division

Amazon is implementing a hiring freeze on the corporate side of its retail business for the rest of the year, according to a New York Times report, becoming the latest company to pause hiring plans amid growing concerns about ...

Business

Economic downturn fueling Argentine crypto craze

Argentina's economic downturn, with high inflation, a deflating currency and a shortage of US dollars to invest in, has in fact proved a shot in the arm for one sector: cryptocurrency.

Business

Emirates could take 4 years to return to normal: chief

It could take up to four years for Emirates airline's operations to return "to some degree of normality", its president said Monday, a day after the carrier announced job cuts over the coronavirus crisis.

Business

Hungarian airline Wizz Air scraps 1,000 jobs

Hungarian budget airline Wizz Air said on Tuesday it is cutting 1,000 jobs and cutting salaries for the remaining staff as it struggles to cope with Europe's coronavirus lockdown.

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Recession

In economics, a recession is a general slowdown in economic activity over a sustained period of time, or a business cycle contraction. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.

Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation.

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