Business
GXS cuts about 10% of workforce in rightsizing exercise
Digital bank GXS is cutting 82 jobs or about 10 per cent of its workforce across the group. This exercise is part of the group’s…
Tag
Cuts
Business
Grab-Singtel’s GXS bank cuts about 10% of workforce as it moves on from early-stage operations
Loss of 82 jobs part of the group’s transition from building a bank to running the operations: CEO Lai Pei-Si Digital bank GXS is cutting…
Fashion
Amazon cuts seller fees in Europe in Shein, Temu price war
Amazon is cutting the fees it charges sellers in Europe as it responds to competition from marketplaces such as Shein and Temu that sell…
Business
BOE cuts banks’ benchmark capital requirements ahead of review
The Bank of England has cut its estimate of how much capital the UK’s banking sector needs for the first time in a decade, and signalled a…
Business
Aletheia Capital downgrades Wilmar to ‘sell’, cuts target to S$2.50 on legal woes
Aletheia Capital has lowered its rating on Wilmar International from “buy” to “sell” on the belief that the agribusiness group’s recent…
Business
Bank Indonesia seeks rate cuts while balancing stability, growth
Tariff worries have made the rupiah South-east Asia’s worst-performing currency this year Bank Indonesia (BI) will strike a balance…
News
Drone attack suspends operations at major Iraq gas field, power cuts occur across Kurdish region
A drone attack on the Khor Mor gas field in Iraq causes major power outages in northern regions, damaging key infrastructure and halting…
Unsorted
McKinsey cuts about 200 tech jobs, shifts more roles to AI
The company is not ruling out additional reductions across different functions over the next two years McKinsey & Co cut about 200 global…
Business
New Zealand central bank cuts cash rate by 25 bps to 2.25%
New Zealand’s central bank cut its benchmark official cash rate by 25 basis points to 2.25 per cent on Wednesday, its lowest level since…
Unsorted
Major Indonesia nickel plant cuts output as waste piles up
HPAL producers have also been contending with the higher cost of sulphur, a chemical used to produce acid A majority Chinese-owned plant…
Business
Apple cuts jobs across its sales organisation in rare layoff
Employees who lost their jobs have until Jan 20 to secure another position within the company or they will be terminated with a severance…
Business
Deutsche Bank’s DWS cuts Asia private credit team in shift: sources
Despite Asia credit pullback, DWS sees alternatives driving growth and plans hires in Singapore DWS Group, an asset management arm of…
Business
Deutsche Bank’s DWS cuts Asia private credit team: sources
Despite the retreat from Asia private credit, DWS sees alternatives driving growth and plans hires in Singapore DWS Group, an asset…
Business
Malaysian ringgit, Thai baht set to benefit from rate cuts in 2026: DBS report
Countries have also bypassed US to trade with one another in view of tariff risks DBS analysts are upbeat about the region’s prospects for…
Business
US: Wall Street tumbles as Nvidia slides, investors fret that Fed may slow rate cuts
WALL Street ended sharply lower on Thursday, with steep losses in Nvidia and other AI heavyweights, as investors scaled back expectations…
Business
Maybank cuts Sea target price by 9.3% on softer Shopee margins, despite consensus-beating Q3 earnings
Maybank Research slashed its target price for internet company Sea by 9.3 per cent to US$156 from US$172 with a “hold” rating, citing…
Business
Maybank cuts Sea target price with ‘hold’ call on softer Shopee margins, HSBC maintains ‘buy’ call
Tech company’s prioritisation of growth and building of competitive moats could ‘slow near-term monetisation gains’, says Maybank Research…
Business
Honda cuts annual operating profit outlook on EV cost hit, slow Asia sales
It cut its operating profit forecast for the year through March 2026 to 550 billion yen (S$4.67 billion) from 700 billion yen Honda Motor…
Business
Bank of Canada plans 10% job cuts as PM Carney moves to trim expenses
The central bank is committed to achieving a 15% total budget reduction over the 2026 to 2028 period The Bank of Canada is planning to…
Business
China aims to revive steelmaking without ordering cuts to supply
Beijing seems to have committed to a more gradual tightening of the screws on steelmakers that would play out over years rather than…
Business
CDLHT poised to benefit from interest-rate cuts as hotel outlook improves
CDL Hospitality Trusts (CDLHT) is shaping up to become one of the key beneficiaries of falling interest rates. The weighted average cost…
Business
Nomura expects no more Fed rate cuts in 2025 after October easing
NOMURA said it now expects the US Federal Reserve to keep interest rates unchanged at its December policy meeting, following the central…
Business
Hong Kong central bank cuts interest rate, tracking Fed move
Hong Kong’s de-facto central bank on Thursday lowered its base interest rate by 25 basis points to 4.25 per cent, tracking a cut by the US…
Business
US Fed cuts rates by 0.25%, Powell signals December move ‘far from’ certain
US Federal Reserve chair Jerome Powell cautioned investors against assuming the US central bank would follow its second straight…