Business
Gold Edges Higher as Rate Cut Hopes Grow; Silver Hits 13-Year Peak on Industrial Demand
Gold offered a glimmer of hope for many investors who kept an eye on the tumultuous markets this week. Amid mounting jobless claims and…
Tag
Cut
Business
BNP to cut 200 branches by end of 2026 to kick off retail revamp
BNP Paribas chief executive officer Jean-Laurent Bonnafe plans to cut hundreds of domestic retail branches in an effort to lift…
Business
India focuses on growth with larger-than-expected 50 bps cut in key rate; slashes reserve ratio
The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points on Friday, a third consecutive reduction,…
Business
Europe: Shares inch up as Lagarde’s remarks offset ECB rate cut
EUROPEAN equities see-sawed on Thursday, ultimately eking out gains after the European Central Bank’s President Christine Lagarde’s more…
Business
Malaysia’s Petronas to cut more than 5,000 jobs after profits slump
The state-owned oil firm will also freeze promotions and hiring until December 2026 Malaysia’s state-owned oil firm will reduce headcount…
Business
Procter & Gamble to cut 7,000 jobs over two years in new restructuring plan
Procter & Gamble said on Thursday (Jun 5) it would cut 7,000 jobs, or about 6 per cent, of its total workforce over the next two years, as…
Business
India central bank set to deliver third straight rate cut to lift growth
India’s central bank will likely cut interest rates for the third straight meeting to boost growth, with market watchers focused on the…
Business
Citi to cut 3,500 tech jobs in China in global revamp
Citigroup will reduce the number of employees at two of its technology centres in China by about 3,500, the bank said on Thursday (Jun 5),…
Business
STMicro to cut 5,000 jobs in next 3 years, says CEO
STMicroelectronics expects 5,000 staff to leave the company in the next three years, including 2,800 job cuts announced earlier this year,…
Business
Japan’s top banks said to mull joint ATM operation to cut costs
Bank, Sumitomo Mitsui Banking and Mizuho Bank are considering jointly operating automated teller machines (ATMs) to reduce costs, said…
Business
Fed’s Bostic wants more progress on inflation, in no rush to cut
US Federal Reserve Bank of Atlanta president Raphael Bostic said he’s in no rush to move interest rates, adding he wants to see “a lot”…
Business
Australia central bank pondered outsized rate cut in May, decided to be predictable
Australia’s central bank considered cutting interest rates by an outsized 50 basis points last month as “insurance” against global trade…
Business
Chevron to cut nearly 800 jobs in Texas
Chevron will lay off nearly 800 employees in Texas, according to a notice on Wednesday to the Texas Workforce Commission, part of the US…
Business
Chevron to cut 200 jobs in Texas
— Chevron will lay off 200 employees in Texas, according to figures from the Texas Workforce Commission. The layoffs are part of the US oil…
Business
RBNZ set to make sixth rate cut and signal bias to more easing
New Zealand’s central bank is set to cut interest rates for a sixth straight meeting and signal it’s open to further easing as US trade…
Business
Volvo Cars to cut 3,000 jobs in restructuring
Volvo Cars will cut 3,000 mostly white-collar jobs as part of a restructuring announced last month as it grapples with high costs, a…
Business
Westpac to cut 1,500 jobs, simplify operations: report
The company says it regularly adjusts its workforce based on shifting investment priorities Westpac Banking Corp (Westpac) is planning to…
Business
China banks cut deposit rates to aid margins, drive spending
MAJOR Chinese banks cut deposit rates again, in the latest efforts to preserve their shrinking profitability and drive consumers to spend…
Business
US: Wall St opens lower after Moody's rating cut; yields rise
Wall Street’s main indexes opened lower on Monday (May 19) as Treasury yields rose after Moody’s downgraded the US sovereign rating,…
Unsorted
Melania Trump's Bronze Statue Cut Off from Feet and Stolen from Her Slovenia Hometown as Police Hunt for Culprits
A bronze statue of First Lady Melania Trump has been stolen in her native Slovenia after a thief cut it off at the ankles. The towering…
Business
Newsom proposes $20-million funding cut for California newsrooms, citing budget issues
Gov. Gavin Newsom proposed slashing funding by 67% for a pioneering deal with Google to support struggling California newsrooms, citing…
Unsorted
Trump rules out firing Powell while pushing him to cut rates
US President Donald Trump insisted he does not plan to fire Federal Reserve chair Jerome Powell despite his sustained criticism over the…
Unsorted
Electronic Arts lays off hundreds of workers in latest round of cuts
Electronic Arts, the global video game company, is slashing its workforce again. The company, based in Redwood City, Calif., has…
Business
UPS profit beats estimates, to cut 20,000 jobs on economic worries
The parcel giant is not providing any updates to its full-year outlook due to the economic uncertainty United Parcel Service reported a…