January 23, 2023 12:25 pm
Billionaire Elon Musk said in a tweet over the weekend that Twitter Inc had nearly 2,300 active employees. A CNBC report last Friday stated that Twitter’s full-time workforce had been brought down to 1,300 active, working employees, which included about 550 full-time engineers. Nearly 75 of that headcount are on leave including about 40 engineers, […]
Read moreJanuary 23, 2023 9:50 am
London-based Times newspaper reported over the weekend that the owners of UK supermarket chain Asda and petrol forecourts business EG Group were exploring a merger. Such a combination would result in a retail giant valued at GBP 11 billion to GBP 13 billion with over 581 supermarkets, 700 petrol forecourts and 100 convenience stores across […]
Read moreJanuary 20, 2023 11:45 am
Total 2022 compensation for JPMorgan Chase & Co’s Chief Executive Officer Jamie Dimon remained unchanged at $34.5 million, the Wall Street bank said in a regulatory filing. The CEO’s compensation included an annual base salary of $1.5 million as well as a performance-based incentive pay of $33 million. “There was no special award granted to […]
Read moreJanuary 20, 2023 9:03 am
Spot Gold looked set to register its fifth consecutive week of gains and traded near a nine-month peak on hopes the Federal Reserve may slow the pace of interest rate hikes. “Fed policy calibration thematic amid signs of more entrenched disinflation pressures is a key factor underpinning gold strength,” OCBC FX strategist Christopher Wong was […]
Read moreJanuary 19, 2023 9:36 am
The largest miner by market value globally, BHP Group Ltd, reported a solid increase in coal and copper output during its fiscal second quarter and a more modest increase in iron ore production. BHP’s production of metallurgical coal surged 10% year-on-year to 7.0 million metric tons during the three months through December, while copper production […]
Read moreJanuary 18, 2023 11:52 am
Stellantis, the third-largest automotive group by sales globally, on Wednesday announced a deal with Finland’s Terrafame, under which the latter will supply the car maker with nickel sulphate over a period of 5 years, starting from 2025. “This agreement is part of the key raw material sourcing to fit with our electrified vehicle battery pack […]
Read moreJanuary 18, 2023 9:20 am
A number of media reports stated on Tuesday Microsoft Corp (MSFT) intended to cut thousands of job positions, with roles in divisions such as human resources and engineering expected to be affected. Such a move by Microsoft could suggest the environment in the technology sector is not improving and more jobs could be cut. According […]
Read moreJanuary 17, 2023 12:23 pm
Japan’s leading brokerage and investment bank Nomura Holdings Inc (8604) has cut 18 Asian banking jobs, with the majority of them being China-focused investment roles, according to a report by Reuters, citing unidentified sources familiar with the matter. The sources claimed that Nomura had laid off bankers in Singapore, Hong Kong, Malaysia and Taiwan last […]
Read moreJanuary 17, 2023 9:30 am
USD/JPY traded in proximity to a seven-month trough on Tuesday, as market players awaited the outcome of the Bank of Japan’s two-day policy meeting to be concluded tomorrow. Speculation has emerged that the central bank could introduce a shift to or even end its yield curve control policy, as 10-year Japanese bond yields have been […]
Read moreJanuary 16, 2023 2:01 pm
Toyota Motor Corp (7203) said earlier on Monday it expected to manufacture 10.6 million vehicles during its current fiscal year. Yet, the auto maker also said it saw a downside risk of nearly 10% on that baseline production volume as a result of risks such as chip supply shortages or the COVID-19 pandemic. In December, […]
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