Business
AI job cuts debacle sees biggest Australia bank reverse tack
Commonwealth Bank of Australia (CBA) reversed a decision to cut 45 customer service roles due to new artificial intelligence (AI)…
Tag
Cuts
Business
New Zealand central bank cuts rates to three-year low, flags more easing; kiwi dollar tumbles
New Zealand’s central bank cut its policy rate by 25 basis points to a three-year low of 3 per cent on Wednesday (Aug 20), and flagged…
Business
New Zealand central bank cuts rates to three-year low, flags more easing; kiwi tumbles
New Zealand’s central bank cut its policy rate by 25 basis points to a three-year low of 3 per cent on Wednesday (Aug 20), and flagged…
Business
RBNZ seen resuming rate cuts as focus shifts to wilting economy
New Zealand’s central bank is expected to cut interest rates this week, resuming its easing cycle after a pause in July as the economy…
Business
PBOC signals no urgency for rate cuts despite poor economic news
China’s central bank indicated it’s holding back from aggressively easing monetary policy with moves such as interest-rate cuts, even…
Business
Malaysia’s currency rally not over yet as analysts eye rate cuts
Analysts are now focusing on the potential benefits of lower domestic rates, with currency sentiment further buoyed by government…
Business
Malaysia ringgit’s rally not over yet as analysts eye rate cuts
Analysts are now focusing on the potential benefits of lower domestic rates, with currency sentiment further buoyed by government…
Business
Oracle cuts cloud division jobs amid surge in AI spending
Many tech giants have sought to deal with the surging costs of AI by reducing expenses in other parts of the business Oracle is cutting…
Business
GoTo posts fourth straight adjusted profit, helped by cost cuts
Indonesia’s GoTo Group notched a fourth consecutive quarter of adjusted profit, making progress with reining in expenses and boosting…
Business
GoTo nears net income as cost cuts, fintech bet gather steam
Indonesia’s Internet champion GoTo Group is getting closer to sustainable profitability, with its finance chief predicting net income in…
Business
Thailand’s central bank cuts key rate by 25 bps, as expected
Thailand’s central bank lowered its key interest rate by a quarter point on Wednesday (Aug 13), its fourth cut in 10 months as it looks to…
Business
Thailand’s central bank cuts rates to lowest in two years to support growth
Thailand’s central bank lowered its policy rate by a quarter point on Wednesday (Aug 13), its fourth cut in 10 months, to support a…
Business
Australia’s central bank cuts rates to two-year low of 3.6%
Australia’s central bank on Tuesday cut its main cash rate by a quarter point to a two-year low of 3.60 per cent, citing a slowdown in…
Business
RBA cuts interest rates, signals more to come as inflation slows
Australia’s central bank cut interest rates on Tuesday (Aug 12) for a third time this year and signalled further policy easing might be…
Business
Global Stocks Rise Slightly with Rate Cuts and Trade Talks Ahead
Asian markets rose slightly in the week, ending on corporate earnings and optimism for interest rate cuts. The cash market in Japan is…
Business
China cuts coal imports, buys more oil and gas in July
China’s coal imports fell for the fifth time in six months in July as Beijing leans more on domestic mining, while boosting oil and gas…
Business
China cuts coal imports, deepens Asean ties amid trade shifts
China’s coal imports fell for the fifth time in six months in July as Beijing leaned more on domestic mining and boosted oil and gas…
Business
China’s tech giants spook a generation of workers with job cuts
FOR years, a job at one of China’s technology behemoths was a golden ticket for the country’s ambitious youth. Now, a wave of downsizing…
Business
Nextdoor cuts 12% of workforce in quest for profitability
Nextdoor Holdings, the neighbourhood social networking company, is eliminating 12 per cent of its workforce, part of a broader effort by…
Business
Bank of England cuts rates to 4% after narrow 5-4 vote
The Bank of England (BOE) cut interest rates on Thursday (Aug 7) but four of its nine policymakers – worried about high inflation – sought…
Business
Amazon cuts 110 jobs in reorganization of Wondery audio division
Amazon on Monday said it is cutting 110 roles from its audio division Wondery as part of a restructuring effort. The cuts reflect an…
Business
Global Stocks Climb as Expectations of Rate Cuts Grow, Trump Tightens the Grip on Fed
Asian stock markets climbed on the opening of the new week with the hope of U.S. interest rate cuts giving investors some relief. MSCI's…
Business
US dollar tumbles;traders bet on more US rate cuts after weak jobs report
THE greenback dropped on Friday (Aug 1) and was on track for its biggest daily loss against the yen since January 2023 after data showed…
Business
Bank of England rate cuts deliver £11 billion hit to households
Exactly one year since the Bank of England (BOE) started to cut interest rates, the pressure on households from the highest borrowing…