(Reuters) – Goldman Sachs Group Inc will start its biggest round of job cuts ever, as it locks in on a plan to eliminate about 3,200 positions this week, Bloomberg News reported on Sunday. The financial services major is expected to begin the process mid-week and the total number of people affected will not exceed…
By Howard Schneider NEW ORLEANS (Reuters) – The Federal Reserve’s effort to shock the economy back to lower inflation is in its early days, making it tough for the U.S. central bank to avoid overdoing it with higher-than-needed interest rates, a top economic adviser in the Obama White House said after a fresh review of…
By P.J. Huffstutter CHICAGO (Reuters) -The American Farm Bureau Federation and machinery manufacturer Deere & Co signed a memorandum of understanding on Sunday that ensures farmers have the right to repair their own farm equipment or go to an independent technician. As the agriculture sector accelerates its adoption of technology, the reliance on high-tech machinery…
By Valentine Hilaire PANAMA CITY (Reuters) -Canada-based miner First Quantum would suspend a “significant amount” of jobs at its operations in Panama if the Central American government forces it to halt operations during a contract dispute, the company said in a letter. “If we have to reduce operations to care and maintenance mode, the company…
(Reuters) – China’s fintech giant Ant Group has no plan to initiate an initial public offering (IPO), it said on Sunday in an emailed statement to Reuters. “Ant Group has been focusing on its business rectification and optimisation, and does not have a plan for an IPO,” the company spokesperson said. Ant Group said on…
By Dave Graham MEXICO CITY (Reuters) – North American leaders aim to give new impetus to strengthening economic ties at a meeting this week, even as a major dispute grinds on over Mexico’s energy policies which has distracted from cooperation on other issues like immigration. Mexican President Andres Manuel Lopez Obrador will host his U.S….
CAPE TOWN (Reuters) – South African power utility Eskom on Sunday said police were investigating whether an attempt was made to poison its outgoing Chief Executive Officer Andre de Ruyter. Faced with political pressure, De Ruyter resigned on Dec. 14 after failing to solve a crisis in the company that has led to record levels…
(This Jan. 6 story has been corrected to fix the final paragraph to say 2 billion trips to be made, not 2 billion people to travel) By Joe Cash and Ellen Zhang BEIJING (Reuters) – After three years of dealing with some of the world’s toughest COVID-19 curbs, there are early signs that Chinese consumers…
By Aditi Shah NEW DELHI (Reuters) – Mercedes Benz expects double-digit sales growth in India this year, despite concerns that a weaker rupee could increase car prices, the head of its local unit said in an interview. The German luxury carmaker’s sales in India rose 41% last year to 15,822 cars, its highest ever in…
By Gibran Naiyyar Peshimam ISLAMABAD (Reuters) – An International Monetary Fund (IMF) delegation will meet Pakistan’s finance minister on the sidelines of a conference in Geneva beginning on Jan. 9, a spokesperson of the lender said on Sunday, as Pakistan struggles to restart its bailout programme. The lender is yet to approve the release of…
