Bank forced to shed jobs due to low interest rates and global uncertainty, FT reports HSBC is planning to lay off up to 10,000 staff, according to reports on Monday, just weeks after its chief executive stepped down and announced the axing 4,000 posts citing a weak global outlook. ... Read More »
HP Inc. plans to reduce its global staff by thousands of employees over the next three years. HP (HPQ) said Thursday that it intends to cut between 7,000 and 9,000 workers “through a combination of employee exits and voluntary early retirement.” It expects to complete the culling in the company’s ... Read More »
Stocks drop in Sydney and Tokyo mirroring falls in US and UK, as Washington slaps 25% tariffs on range of European goods Asian markets have tanked after a below-par US jobs report compounded worries about the world’s top economy, while Washington opened up another front in its trade wars ... Read More »
Prime Minister Saad Hariri said Sunday it is important that the 2020 budget maintains or goes below the 7.6 percent deficit-to-GDP ratio and that state spending be directed towards investment. His words came days before he heads to France to meet President Emmanuel Macron. “We need to reach a time ... Read More »
Corruption-plagued Lebanon suffers from one of the world’s highest debt ratios, high unemployment and little growth. Lebanon’s top officials declared a “state of economic emergency” Monday, calling for “sacrifices” to pull the country of the slump. The meeting brought together the head’s of Lebanon rival political parties, along with ... Read More »
Australia’s ASX200 index down 1.46%, Tokyo off 2% and Hong Kong falls 3.3% as fears grow about a global recession Shares in Australia and across Asia Pacific have fallen sharply amid a new flare-up of US-Chinese trade tensions. Despite a senior Chinese leader saying Beijing wanted to resolve the ... Read More »
President tweets demand for 1% reduction and more QE as markets look to central banks to bolster global economy Stock markets have been boosted by the growing prospect of more stimulus measures by central banks and governments across the world as Donald Trump heaped more pressure on the Federal ... Read More »
Sales of Japanese-branded autos in South Korea slumped in July amid a worsening diplomatic row between the two countries that has led to consumer boycotts and efforts by Seoul to cut the economy’s reliance on imports from Japan. Industry data out of South Korea on Monday showed Toyota Motor sales in the country tumbled 32% ... Read More »
U.S. President Donald Trump vowed to impose a 10% tariff on $300 billion of Chinese imports from Sept. 1, sharply escalating a bruising trade war between the world’s largest economies and jolting financial markets. The announcement on Thursday extends Trump’s trade tariffs to nearly all of the Chinese goods ... Read More »
Lebanese Energy Minister, Nada Boustani promised on Tuesday that the oil and gas sector will develop and operate with total transparency. During the opening of a workshop with international petroleum countries, the minister said “the government and the Energy and Water Ministry is committed to following up on the development ... Read More »
Lebanese Ministry of Information