Tag Archives: cut

Why OPEC may have to cut production eventually


The Organization of the Petroleum Exporting Countries?is not expected to cut production now, but it might have no choice later this year if oil begins to fall again, says Jasper Lawler, a market analyst at CMC Markets UK. \”While OPEC will probably stay the program in June, if oil prices are still low 6 months later at the next meeting, ...

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HSBC to cut as many as 50,000 jobs, sell business in Turkey and Brazil to restore profit growth


HSBC Holdings Plc, Europe\’s largest bank, intends to eliminate as many as 25,000 jobs then sell operations in Turkey and Brazil to help restore profit growth. Under a three-year plan, HSBC will cut full-time employees by 22,000 to 25,000, or about 10 per cent, it said in a presentation to investors on its website on Tuesday. The sale of companies ...

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Sobeys to cut 1,300 back office jobs as new distribution centres open


STELLARTON, N.S. – The Sobeys grocery business expects to get rid of 1,300 jobs within the next year or two because it moves to open new distribution centres in Ontario and Alberta and is constantly on the integrate Safeway Canada\’s operations. The head of Sobeys parent company told analysts in a quarterly business call Thursday that the jobs cuts will ...

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David Rosenberg: Why the Bank of Canada cut now


The Bank of Canada cut interest rates by 25-basis points, leaving the bank with one more bullet within the chamber before it might have to go non-conventional. Hopefully, we will get a fiscal response instead, but I\’m not holding my breath. Bank of Canada cuts rate, guts loonie, confirming it will likely be an ugly year for the Canadian dollar ...

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Where investors should look for opportunities after the Bank of Canada’s rate cut


The Bank of Canada’s 25-basis-point rate cut last week to 0.5 percent certainly made a few investors grumble. Will the Bank of Canada have to start looking at QE? Debate grows as data appears to confirm recession After last week’s rate cut and more weak data today, there\’s a new debate brewing in Canadian economic circles whether the Bank will ...

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Home Capital says it cut ties with 45 mortgage brokers after discovering borrower income was falsified


Home Capital Group Inc. said its recent decision to suspend its relationship with dozens of brokers happened after an external source tipped the organization off that brokers were falsifying borrower incomes. Home Capital, certainly one of Canada\’s largest alternative mortgage lenders, said approximately 45 individual third-party brokers are no longer dealing with the company following an interior investigation. Sixty percent ...

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