Cuts
UK car industry body cuts 2024 sales forecast on weak EV demand
BRITAIN’S auto industry body cut its 2024 forecast for new car sales on Monday (Aug 5), saying weak private retail demand for electric vehicles (EVs) is an overriding concern.
New...
OCBC looks to balance net interest income growth with NIM impact ahead of interest rate cuts
The bank’s Q2 net profit rises 14% to S$1.94 billion; the earnings are the second-strongest on recordAHEAD of cuts to US interest rates, OCBC has noted the need to...
US dollar climbs after Fed decision while pound slides as BOE cuts rates
THE US dollar rallied on Thursday (Aug 1) after falling the previous day as central banks continued to roil currency markets, while sterling fell to a four-week low after...
Moderna cuts 2024 sales forecast, sees low EU vaccine revenue into 2026
MODERNA on Thursday (Aug 1) cut its 2024 sales forecast for Covid-19 and respiratory syncytial virus vaccines by up to 25 per cent, or US$1 billion, due partly to...
Disney plans a new round of job cuts in its television operation
WALT Disney is planning a fresh round of job cuts in its TV division, part of an effort to reduce costs in a shrinking part of its business, according...
Stellantis offers US employees buyouts in new round of job cuts
STELLANTIS will offer voluntary buyouts to United States employees as the carmaker looks to cut costs amid slumping profits.Non-unionised US workers from vice-president level and below in certain functions...
Merck cuts annual profit forecast
Merck on Tuesday (Jul 30) cut its full-year earnings forecast, mainly due to one-time charges from its acquisition of eye-focused drug developer EyeBio.Merck now expects 2024 earnings of US$7.94...
US cuts borrowing estimate, sees smaller year-end cash pile
THE US Treasury reduced its estimate for federal borrowing for the current quarter and projected the government’s cash buffer to decline towards year-end, just ahead of a possible fresh...
