Big business is in for a rough earnings season
Companies face falling revenues and rising costs
Chief executives of the world’s biggest firms seem in highish spirits of late. Although they see the war in Ukraine as a humanitarian tragedy, the risks to the world economy look for now to be contained. Central banks have got serious about inflation. The world economy has held up better than expected a few months ago. China’s Communist government has launched a charm offensive, signalling that the country is not just reopening after its harsh “zero-covid” regime but also reintegrating with the world. Globalisation may not be in the rudest of health, but news of its demise appears, to many bosses, exaggerated.
This article appeared in the Business section of the print edition under the headline “Bulldozed”
From the January 28th 2023 edition
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