Business
Xbox cuts 3,200 jobs as gaming business struggles
Xbox is hitting the reset button. Microsoft’s video game division plans to eliminate 3,200 jobs, or around 20% of its staff over the next…
Tag
Cuts
Business
Buffett cuts Amazon stake, makes bet on New York Times
Warren Buffett’s Berkshire Hathaway slashed its stake in Amazon.com by more than 75 per cent in the fourth quarter, while also building a…
Business
Miran says he’d love to stay at Federal Reserve, supports more rate cuts
RAL Reserve Governor Stephen Miran on Wednesday said he would be “very happy” to stay on at the central bank longer term if asked, but the…
Business
ANZ Group cash profit jumps 17% as cost cuts take hold
The Australian bank said more than 60 per cent of the 3,500 job cuts it previously announced had taken place Group said on Thursday its…
Business
Maersk’s 2026 earnings drop with gradual opening of Red Sea, cuts jobs
It expects its underlying Ebitda to be between US$4.5 billion and US$7 billion this year, down from US$9.6 billion in 2025 Danish shipping…
Business
BNP Paribas vows more cost cuts after profit tops forecast
BNP reported net income of 2.97 billion euros (S$4.46 billion) for the three months ending in December Paribas nudged up its 2028…
Business
Indonesia coal miners warn of layoffs, economic risks over proposed output cuts
The trims aim to push up the plunging thermal coal prices amid fears of oversupply by the country Indonesia’s Coal Mining Association…
Business
Peloton cuts 11% of jobs, with engineering teams getting hit
The fitness technology company joins a slew of other tech companies that have recently slashed their workforces Peloton Interactive, the…
Business
Goldman Sachs cuts rating on Indonesian equities after MSCI flags investability risk
Goldman Sachs lowered its rating on Indonesian equities on Thursday, a day after index provider MSCI flagged investability risks,…
Business
Amazon cuts 16,000 jobs globally to undo pandemic-era hiring amid AI push
Amazon said on Wednesday (Jan 28) it was cutting 16,000 jobs worldwide in the second major round of layoffs at the company in three…
Business
BlackRock cuts private credit executives hired pre-HPS deal
BlackRock is cutting about 10 people from its private financing solutions group as it continues to integrate its US$12 billion acquisition…
Business
BlackRock cuts value of private debt fund by 19%, waives fee
A BLACKROCK private debt fund expects to mark down the net value of its assets 19 per cent after a string of troubled loans weighed on…
Business
Amazon plans thousands more corporate job cuts next week, sources say
Amazon is planning a second round of job cuts next week as part of its broader goal of trimming some 30,000 corporate workers, according…
Business
Société Générale shares rise after announcement of 1,800 job cuts
French banking group Société Générale is planning to cut 1,800 jobs in France by the end of 2027 as part of a wide-ranging reorganisation,…
Business
China’s central bank cuts structural interest rates to boost targeted lending
The moves signal targeted adjustments to bolster an economy hit by weak demand and imbalances China’s central bank will lower interest…
Business
DBS picks ST Engineering, Sats over airlines; cuts SIAEC to ‘hold’
DBS Group Research downgraded SIA Engineering Company (SIAEC) to “hold” and advised investors to shift exposure towards upstream aviation…
Business
DBS lifts target price of ST Engineering, Sats; cuts SIAEC to ‘hold’
DBS Group Research downgraded SIA Engineering Company (SIAEC) to “hold” and raised its target prices for ST Engineering and Sats, as it…
Business
Meta begins job cuts as it shifts from metaverse to AI devices
Reality Labs houses the company’s hardware and other futuristic product efforts Meta Platforms is beginning to cut more than 1,000 jobs…
Business
Growing number of options traders see no Fed cuts in 2026
A steadying labour market gives central bankers less reason to keep cutting rates TRADERS focused on options are increasingly pricing out…
Business
BlackRock cuts hundreds of jobs, trimming about 1% of staff
BlackRock is cutting hundreds of jobs across the company, becoming the latest Wall Street firm to rein in headcount in recent weeks. The…
Business
Vietnam central bank cuts credit growth target to 15% this year
The new target is lower than the 16% the bank initially set for 2025 before raising it during the year Vietnam’s central bank has cut its…
Business
Cathay Pacific seeks savings, cuts some jobs in efficiency push
Cathay Pacific Airways has asked all departments to identify savings and efficiencies in an attempt to rein in expenses, as Hong Kong’s…
News
Kash Patel’s FBI Cuts Minnesota Out of ICE Shooting Investigation
More than a dozen schemes have popped up in Minnesota’s safety net programs in recent years, many of them involving members of the state’s…
Business
UBS 25-year Asia veteran departs ahead of new wave of job cuts
The Zurich-based firm is set to begin another set of job cuts in mid-January, according to sources UBS Group’s Eric Lafon has left the…