Tag Archives: Cuts

Sex Harassment Scandal-Hit UK’s Biggest Business Lobby Confirms Job Cuts

By | 06/02/2023

Confederation of British Industry this week pledged a significant shakeup. London: Britain’s biggest business lobby group on Friday confirmed plans to cut jobs after allegations of sexual harassment triggered an exodus of members. The Confederation of British Industry (CBI) has been mired in a scandal since the claims were made public this year, with reports… Read More »

This PSU bank cuts interest rates on fixed deposits

By | 06/02/2023

Punjab National Bank (PNB) has revised its interest rates on fixed deposits of less than ₹2 crore. In a surprising move, the lender has reduced fixed deposit interest rates on single tenure, according to the PNB website. The new rates are effective from June 1, 2023. The bank has cut the interest rate on one-year… Read More »

Bipartisan deal passes Senate, Resolving debt ceiling crisis and budget cuts

By | 06/02/2023

Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on the bipartisan deal and send it to President Joe Biden’s desk to become law before the fast-approaching deadline. In this image from Senate Television, the final… Read More »

Zendesk: SaaS platform Zendesk announces job cuts; CEO sends mail on why the decision and way forward – Times of India

By | 06/01/2023

Another company has joined the long list of technology firms cutting jobs. Global software-as-a-service (SaaS) platform Zendesk has now announced that it will lay off 8% of its workforce, which is about 320 employees. The company’s CEO Tom Eggemeier sent an email to staff announcing job cuts. The email has also been posted on the… Read More »

OPEC+ unlikely to deepen oil supply cuts at June 4 meeting, sources say

By | 06/01/2023

By Ahmad Ghaddar and Maha El Dahan LONDON/DUBAI (Reuters) – OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance told Reuters. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies… Read More »

Oil Traders Are Unfazed by Potential OPEC+ Production Cuts

By | 06/01/2023

Oil Traders Are Unfazed by Potential OPEC+ Production Cuts Follow Us on Google News

Uttarakhand: 300 People Stranded In Dharchula & Gunji As Landslide Cuts Off Major Road

By | 06/01/2023

As per media reports, the road is likely to re-open for traffic after two days (PTI/File) Meanwhile, the weather department has predicted unstable weather to continue in Uttarakhand as stormy conditions have been forecasted for the rest of this week across the Western Himalayan Region Around 300 people are currently stuck in the Dharchula and… Read More »

300 People Stranded In Uttarakhand After Massive Landslide Cuts Off Road

By | 06/01/2023

The Lipulekh-Tawaghat road was washed away 100 meters due to a heavy rock fall. At least 300 travellers are stuck in Pithoragarh district of Uttarakhand after a crucial road got washed away following a landslide. The travellers reportedly got stranded in Dharchula and Gunji after the Lipulekh-Tawaghat road was closed after a large part of… Read More »

Advance Auto Parts cuts full-year profit guidance as costs weigh

By | 05/31/2023

(Reuters) – Advance Auto Parts Inc lowered its full-year profit outlook on Wednesday on the back of elevated costs, sending the auto parts retailer’s shares down 24% before the opening bell. High raw material, labor and freight prices, along with the ongoing supply chain constraints, have weighed down the automotive industry’s production and distribution in… Read More »

Watch: Skipper MS Dhoni Cuts 5-Tier Cake After Chennai Super King’s IPL Win

By | 05/31/2023

Cricket team Chennai Super Kings (CSK) clinched its fifth title in the Indian Premier League (IPL) after beating Gujarat Titans. As the exciting final concluded on May 29 in Ahmedabad, fans were beyond elated to see their favourite team win. Skipper Mahendra Singh Dhoni was indeed a crowd favourite in this IPL season as people… Read More »

No street lights in Vietnam’s Hanoi. The reason for power cuts is…

By | 05/31/2023

Faced with record-breaking heat, Vietnam’s capital Hanoi has turned off some street lights to save electricity as demand for air conditioning soars. A view of Hanoi city after some street lights were turned off to save electricity as demand for air conditioning soars.(AFP) Parks in the city of eight million people are now plunged into… Read More »

England’s vital hedges under threat from cuts to funding, farmers say

By | 05/30/2023

Hedgerows in England are under threat, farmers and nature groups have warned, as the government prepares to cut funding that protects them. Hedges are vital habitat for many species, providing food and shelter for mammals, birds and pollinators, with the EU paying farmers under its farming subsidy scheme to have them on their land. But… Read More »

Airmeet: IT company Airmeet lays off 30% of workforce; reasons that CEO’s email to employees gives for job cuts – Times of India

By | 05/29/2023

Homegrown virtual events platform Airmeet has reportedly laid off nearly about 30 per cent of its workforce. The job cuts are across various departments. According to the Inc42 website, the layoffs impacted sales, marketing, tech and operations departments at the Bengaluru-based startup. The job cuts are spread across the company’s operations in India, the US… Read More »

Five interest rate cuts by end of next year, expert predicts

By | 05/28/2023

CBA’s Head of Australian Economics Gareth Aird is forecasting five cuts in interest rates, bringing the cash rate down 125 basis points, by the end of next year. “These rate hikes, rate cuts move in cycles,” Mr Aird told Sky News Business Editor Ross Greenwood. “Once we get an easing cycle it won’t be just… Read More »

WSJ News Exclusive | Saudi Arabia, Russia Ties Under Strain Over Oil-Production Cuts

By | 05/27/2023

Saudi Arabia, Russia Ties Under Strain Over Oil-Production Cuts Follow Us on Google News

Oil Down USD 3 as Russia Downplays Additional OPEC+ Cuts

By | 05/26/2023

Last Updated: May 26, 2023, 00:02 IST New York, United States of America (USA) Some investors took that as a signal that OPEC+, the Organization of Petroleum Exporting Countries and allies including Russia, could consider further output cuts at a meeting on June 4. (Image: Reuters File) On Tuesday, oil prices were supported when Saudi… Read More »

Boris Johnson cuts ties with government lawyers assisting him in Covid inquiry

By | 05/25/2023

Boris Johnson has severed ties with government lawyers supporting him during the Covid inquiry, with allies saying he had “lost faith” in the system after he was reported to police over fresh Partygate allegations. The former prime minister said he was currently “unrepresented” and in the process of instructing new solicitors. While Johnson is confident… Read More »

UK funding cuts to east Africa ‘insulting and shortsighted’, say aid organisations

By | 05/25/2023

The UK has been accused of taking the “insulting and shortsighted” decision to cut humanitarian aid to east Africa at a time of chronic drought, conflict and rising food prices. At a United Nations pledging conference in New York on Wednesday, which the UK is co-chairing, Andrew Mitchell, the UK’s international development minister, announced a… Read More »

Chancellor Jeremy Hunt rules out tax cuts amid inflation battle

By | 05/25/2023

Jeremy Hunt has dashed hopes of tax cuts in the near future as he warned “the battle is far from over” on inflation. The Chancellor said it would be “wrong” to inflate the economy by slashing taxes while prices remain “worryingly high”. Rishi Sunak said food inflation is “too high” and promised the Government was… Read More »

Splunk Earnings Top Estimates, as Cost Cuts Boost Margins

By | 05/25/2023

Text size Splunk said cloud revenue was $419 million, up 30%. Dreamstime Splunk posted better-than-expected results for its fiscal first quarter, including a surprise non-GAAP profit, as the cyber security and data analytics software company saw a payoff from a new focus on controlling costs. For the quarter, Splunk (ticker: SPLK) posted revenue of $752… Read More »

Meta Layoffs: Facebook Parent Starts Final Round Of Job Cuts

By | 05/24/2023

Meta’s layoffs followed months of waning revenue growth amid high inflation and a digital ad pullback from the pandemic e-commerce boom. (Image: AP Photo/Representative) About 4,000 employees lost their jobs in the April layoffs, Zuckerberg said during the town hall, following a smaller hit to recruiting teams in March. Meta Platforms Inc started carrying… Read More »

IMF says UK no longer heading for recession but urges against tax cuts

By | 05/23/2023

The International Monetary Fund has upgraded its forecasts for UK growth saying the country will no longer fall into recession this year, but warned the government not to cut taxes as that would fuel inflation and result in high interest rates for longer. In a message to the chancellor, Jeremy Hunt, that he should maintain… Read More »