Executives at electric car marker Tesla, drug maker Novartis, and retailer Bed Bath and Beyond are cutting spending or jobs while others are shelving projects or deals as inflation rages and confidence in the world economy wanes.
Manufacturing growth is slowing worldwide as China’s COVID-19 curbs and Russia’s invasion of Ukraine disrupt supply chains and inflation continues to run at the highest in years, while the growing risk of a U.S. recession poses a new threat to the global economy.
