Business
Saudi Arabia cuts flagship oil price to Asia for a third month
The International Energy Agency has forecast a glut of about 3.8 million barrels a day for this year Saudi Arabia dropped the price of its…
Tag
Cuts
Business
BOJ cuts monthly bond purchase amount by 400 billion yen
The Bank of Japan on Friday (Dec 26) announced a 400 billion yen (S$3.28 billion) reduction in its monthly bond purchases, continuing its…
Business
From Amazon to DBS: AI is driving thousands of job cuts worldwide
Global banks alone will cut as many as 200,000 jobs in the next three to five years The global march of artificial intelligence (AI)…
Business
US Fed’s Goolsbee welcomes latest inflation data, says more rate cuts may loom
FEDERAL Reserve Bank of Chicago President Austan Goolsbee said on Thursday fresh inflation data is “good” and if it can be sustained it…
Business
UBS plans January job cuts to kick off final year of integration
UBS Group is set to begin its latest wave of job cuts in mid-January, according to people familiar with the matter. That step will be…
Business
Bank of England lowers rates after tight vote but signals caution about further cuts
Five MPC members vote to lower the benchmark rate for the fourth time in 2025 to 3.75% The Bank of England (BOE) cut interest rates on…
Business
Volkswagen budget cuts force battery unit to seek external funds
PowerCo is considering bank loans, external investors and a potential public offering Volkswagen’s battery business is being forced to…
Business
Thai central bank cuts policy rate by 25 bps, as expected
The reduction is the fifth since October 2024, with rates down by a total of 125 basis points Thailand’s central bank cut its key interest…
Business
Amazon European hub in Luxembourg braces for record job cuts
Amazon.com’s decision earlier this year to axe 14,000 employees around the globe is reverberating at the company’s European headquarters…
Business
McKinsey plots thousands of job cuts in slowdown for consulting industry
The firm’s revenue growth has flatlined in the last five years, leading to a reset after rapid hiring over the prior decade As McKinsey…
Business
Rebate cuts won’t hurt Singapore’s momentum as South-east Asia’s top EV market in 2026
The Republic’s EV take-up is expected to rise due to a continued price advantage and new benefits for electric heavy vehicles The…
Business
FMC to launch restructuring plan, targets plant closures and Asia cost cuts
Agrichemicals firm FMC said on Friday (Dec 12) that its board has approved a restructuring plan, aimed at cutting costs, shutting down…
Business
Swiss National Bank holds interest rate at zero, cuts inflation forecast
The outcome shows the central bank setting a higher bar for moving negative than for a standard rate cut The Swiss National Bank kept its…
Business
More dissenters could signal increased resistance to future Fed rate cuts
Investors should be positioned for the Fed to continue easing at least once more in 2026, say analysts THE US Federal Reserve’s expected…
Business
Gold rises as a divided Fed cuts rates; silver hits record high
Gold prices rose on Thursday (Dec 11) after the US Federal Reserve cut interest rates, even as policymakers remained split on the outlook…
Business
US stocks close higher after Fed cuts interest rates
WALL Street ended higher on Wednesday, after the Federal Reserve cut interest rates by a quarter percentage point and signalled that it…
Business
Wells Fargo expects more job cuts, will roll out AI gradually in 2026
Wells Fargo expects more cuts to its workforce and sees higher severance expenses in the current fourth quarter, CEO Charlie Scharf said…
Business
Australia’s central bank holds rates steady, rules out further cuts
Bond yields spike to a 13-month high after governor Bullock says that price risks have ‘tilted to the upside’ Australia’s central bank…
Business
Bank of England plans staffing cuts because of budget pressures
The Bank of England is planning to reduce head count as its finances become strained by the cost of the modernisations recommended by Ben…
Business
India central bank cuts repo rate by 25 basis points, boosts liquidity
The Reserve Bank of India (RBI) cut its key repo rate by 25 basis points on Friday (Dec 5), in line with a consensus view, as record low…
Business
India central bank cuts key rate, boosts liquidity to support ‘goldilocks’ economy
The Reserve Bank of India (RBI) cut its key repo rate by 25 basis points on Friday (Dec 5) and left the door open for further easing as it…
Business
Wall Street opens higher as investors mull Fed rate cuts
Wall Street’s main indexes opened slightly higher on Thursday (Dec 4) as investors parsed a fresh batch of labour market data to gauge the…
Business
California hammered as national job cuts jump to a five-year high
Job cuts across the country are the highest they have been in five years, led by layoffs in California and cutbacks in Washington.…
Unsorted
Airbus cuts 2025 delivery target after issues with top-selling jet
Airbus cut its 2025 delivery target to around 790 commercial aircraft on Wednesday (Dec 3), 30 fewer than previously expected, but…