Investing.com — The global economy will slow this year as high inflation keeps alive the risk of a recession, according to the latest assessment by the World Bank.
Global growth is forecast to slow to 1.7% this year, after estimating last June that it would grow at a 3% rate in 2023.
The lower rate, if it comes to pass, would make this year among the weakest years for growth in three decades, ranking third worst after only the financial crisis in 2009 and the downturn in 2020 at the start of the pandemic.
The downturn was expected to be widespread. The 2023 forecast is revised down for 95% of advanced economies and 70% of emerging market and developing economies, the World Bank said.
“Credit Suisse considering 50% cut to overall 2022 bonus pool -Bloomberg News”
CREDIT SUISSE $143 Billion Dollar loss in 2022
www.cnbc.com/2023/01/09/swiss-national-bank-posts-record-143-billion-loss.html
www.reuters.com/business/finance/swiss-national-bank-posts-record-143-billion-loss-2022-2023-01-09
NEWS: BlackRock is cutting 3% of its workforce
— Don Johnson (@DonMiami3) January 11, 2023