HSBC may cut up to 14,000 jobs under restructuring plan
HSBC has said it may cut an additional 14,000 jobs globally as part of a restructuring plan to reduce costs and increase profitability. The bank is aiming to save another $3bn (£2bn) in annual costs as tougher regulations eat into profits. The layoffs would cut the firm’s total headcount to between 240,000 and 250,000 over [...]
PARIS — The euro zone economy shrank more than expected in the first three months of 2013, official data showed Wednesday, marking a sixth consecutive quarter of decline as France returned to recession and Germany marked time. The 17-nation euro zone contracted by 0.2 percent from the last three months of 2012, Eurostat, the statistical [...]
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An American hedge fund billionaire known for starting big fights has called for a breakup of the entertainment and electronics colossus Sony, according to people briefed on the matter, possibly setting off a battle that could roil Japan’s famously staid corporate culture. The call, which came on Tuesday, will most likely be viewed by government [...]
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The Bank of Canada has named long-term bureaucrat and economist Stephen Poloz as its new head, replacing Mark Carney who is going to run the Bank of England. Mr Poloz was a surprise choice as many observers expected Mr Carney’s senior deputy, Tiff Macklem, to succeed him. His previous post was as chief executive [...]
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Royal Bank of Scotland (RBS) is “desperate” to lend to UK businesses, the bank’s chief executive has claimed. In an interview with the Sunday Times, Stephen Hester said RBS was sitting on £20bn in cash but economic worries meant businesses were not borrowing. “We are lending as much as we can,” he said, adding that [...]
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Private consumption is forecast to fall further this year Italy’s economy will shrink by 1.4% this year, a much sharper contraction than previously forecast, according to the national statistic agency. Istat forecast that Italy will post 0.7% growth in 2014, but added that unemployment will reach a record high of 12.3% next year. [...]
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House Republican leaders on Monday sent President Barack Obama a counteroffer aimed at avoiding the fiscal cliff, but it doesn’t hike tax rates on the wealthy or deal explicitly with tricky issues like the debt ceiling and the sequester. GOP leadership says the offer is based on testimony given by Erskine Bowles during an appearance [...]
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Source: Reuters BRUSSELS, Nov 18 (Reuters) – The system of so-called “shadow banking,” blamed by some for aggravating the global financial crisis, grew to a new high of $67 trillion globally last year, a top regulatory group said, calling for tighter control of the sector. A report by the Financial Stability Board (FSB) on Sunday appeared [...]
Continue reading …The Rush Limbaugh advertiser backlash is knocking down the radio networks
November 19, 2012 1,111 Comments
The Cumulus and Dial Global radio networks have been adversely impacted by the advertiser boycott The Rush Limbaugh Show is distributed to 600 radio stations via several radio industry networks. The show is syndicated by privately-held Premiere Networks, which contracts with Cumulus Media, Dial Gobal, and other networks to secure broad access in as many [...]
Continue reading …Disregard the 150mill figure reported by the Wallstreet Journal . Straight from the president’s twitter feed Some amazing news this morning: 1,825,813 people came together to raise $181 million for this campaign in September. Of the 1,825,813 people who donated in September, 567,000 were new to this organization—not having given before in 2008 or 2012.If [...]
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