Business
HKMA cuts interest rate, tracking US Fed move
Hong Kong interest rates could remain at relatively high levels for some time, says chief executive THE Hong Kong Monetary Authority…
Tag
Cuts
Business
GameStop reports third-quarter profit on spending cuts
GAMESTOP reported a third-quarter profit on Tuesday (Dec 10) as the video game retailer ramps up its cost-saving efforts, including…
Business
India central bank holds rates steady; cuts banks’ cash reserve ratio
THE Reserve Bank of India (RBI) kept its key interest rate unchanged on Friday (Dec 6) but cut the cash reserve ratio (CRR) that banks are…
Business
Wall Street banks predict biggest China rate cuts in a decade
CHINA’S central bank will deliver the biggest interest-rate cuts in a decade next year as policymakers intensify efforts to shore up…
Business
Airbus cuts 2,000 Defence and Space jobs, taming earlier plans
AIRBUS announced just over 2,000 job cuts in Defence and Space, or about 5 per cent of its second-largest division, as it reels from US…
Business
DBS sees risk assets in ‘sweet spot’ as inflation moderates and rate cuts loom
THE current economic environment is in a “sweet spot” for risk assets, said DBS senior investment strategist Daryl Ho, citing moderating…
News
Chad cuts military agreement with France
Chad has said it is terminating a key defence cooperation agreement with France, raising questions about Paris’s waning influence in…
Business
UBS cuts four loan bankers in Singapore, Hong Kong as deal flow slows
UBS Group cut four loan syndication bankers in Asia, according to people familiar with the matter, as elevated funding costs cast a pall…
Business
US Fed minutes show officials prefer future rate cuts to be gradual
US FEDERAL Reserve officials indicated broad support for a careful approach to future interest-rate cuts as the economy remains solid and…
Business
Chinese broker Futu cuts 5% of staff as global expansion slows
CHINA’S online brokerage Futu Holdings is reducing its headcount by about 5 per cent as it reassesses the firm’s strategy to expand…
Business
Fed’s Powell says no need to hurry rate cuts with economy strong
FEDERAL Reserve chair Jerome Powell said the recent performance of the US economy has been “remarkably good”, giving central bankers room…
Business
Man Group plans job cuts as it reviews budget, talent needs
MAN Group is planning a round of job cuts as the world’s biggest publicly traded hedge fund firm reviews its staffing needs. Chief…
Business
German chemicals giant Bayer cuts key target amid weedkiller woes
GERMAN chemicals giant Bayer cut its forecast for 2024 operating earnings on Tuesday (Nov 12), after a poor performance in its…
Business
Ikea reports higher profit despite revenue hit from price cuts
INTER Ikea, the owner of the world’s biggest furniture brand, reported higher profits for 2024 thanks to lower interest payments, despite…
Business
Fed’s implied message: Enjoy the rate cuts and market euphoria now, worry about tariffs and deficits later
Powell leaves door open to another cut in December, depending on the rate of inflation and if the labour market softens further THE US…
Business
Nissan cuts 9,000 Jobs amid declining sales and rising costs
Nissan, the Japanese automaker, announced it will cut 9,000 jobs— six percent of its 133,000 global workforce— after experiencing a…
Business
Audi plans thousands of job cuts outside production
GERMAN automaker Audi is looking to shrink its workforce in the medium term by cutting jobs outside of production, with thousands of…
Unsorted
Aramco cuts oil prices to Asia for December after Opec+ delay
SAUDI Arabia lowered oil prices for buyers in Asia for December after members of the Opec+, which includes the Organization of the…
Business
Recent US economic data points to a concerned Fed opening the door to series of rate cuts
BAD news is good news again. And the worse tidings that US Federal Reserve chairman Jerome Powell can bring about for US economic…
Business
Gold steadies as investors brace for US election and potential rate cuts
GOLD prices held steady on Monday (Nov 4), as investors prepared for a crucial week for the global economy, marked by the US presidential…
Business
Chevron flags possible job cuts in US$3 billion cost plan
CHEVRON indicated potential US job cuts as part of a new cost-cutting plan. The US$3 billion in targeted “structural” cost savings will…
Unsorted
Manulife cuts 2.5% of staff in wealth and asset management unit
Manulife Financial has cut hundreds of jobs in its global wealth and asset management business, representing about 2.5 per cent of the…
Business
DHL cuts earnings outlook on weak B2B volumes
DHL cut its guidance for 2024 earnings before interest and taxes (Ebit) on Wednesday (Oct 30), citing continuously weak…
Business
Philips cuts annual sales outlook on weak demand from China
Royal Philips slashed its sales-growth forecast for the year as tepid demand from China weighs on the Dutch medical technology firm’s…