Business

Foxconn boss sees potential to invest billions in India

Taiwanese tech giant and key Apple supplier Foxconn said Monday it sees the potential to invest "several billion dollars" in India, with the firm looking to diversify its manufacturing away from China.

Business

US tech giant Dell to cut 5% of its global workforce

American computer firm Dell said Monday that it will lay off some five percent of its global workforce, or around 6,650 employees, the latest casualties of a job-slashing wave hitting the US tech sector.

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 ...

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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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