Latest in Cuts Closures
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Rahm misses cut, McIlroy struggles in Dubai
Jon Rahm and Viktor Hovland missed the cut and Rory McIlroy was forced to battle to make the weekend as the headline acts struggled at the Dubai Desert Classic.ESPN - Jan. 17 -
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What Did Trump’s Tax Cuts Do?
Economic upheaval caused by the pandemic has clouded analysts’ ability to understand the effects of the 2017 tax law. Republicans call it a huge success and want to extend it anyway.The New York Times - Jan. 17 -
Spirit Airlines cuts 200 jobs in bankruptcy cost-cutting scramble
Spirit Airlines cuts 200 jobs across the airline as it seeks to exit bankruptcy protection this quarter.CNBC - Jan. 16 -
BP axes 4,700 jobs in cost-cutting drive
UK energy major under pressure from shareholders to turn around its performanceFinancial Times - Jan. 16 -
BP to cut 4,700 jobs to reduce costs
The job losses at the oil giant will affect more than 5% of its global workforce.BBC News - Jan. 16 -
Inflation Rose in December, Putting Rate Cuts Into Question
The consumer price index rose 2.9 percent in the last month of the year, the Labor Department reports.Inc. - Jan. 15 -
Missile Attack Prompts Emergency Power Cuts in Ukraine
President Volodymyr Zelensky of Ukraine said air defenses had shot down at least 30 missiles from a “massive” barrage that had targeted gas and energy facilities.The New York Times - Jan. 15 -
Lloyds to cut 500 jobs and close two offices
UK bank to review more than 1,500 jobs across multiple departmentsFinancial Times - Jan. 15 -
Cutting aeroplane contrails is an easy climate win
Tackling these emissions should be simple, fast and cost-effectiveFinancial Times - Jan. 13 -
British Steel blunder forced Scunthorpe blast furnace closure
Shutdown last year blamed on wrong coal and is latest sign of difficulties at Chinese-owned operationsFinancial Times - Jan. 12 -
U.S. Companies Cut Diversity Efforts as Challenges Mount
At least six major U.S. companies modified their DEI policies last year.Inc. - Jan. 10 -
Trump's tax-cut obstacle course
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Senate GOP worries Trump’s tax agenda at risk Senate Republicans fear ...The Hill - Jan. 10 -
Meta cutting DEI team, programs in broad shift
Meta told employees Friday it will cut its diversity, equity and inclusion (DEI) team and roll back several related programs, marking another major shift in policy for the leading social media ...The Hill - Jan. 10 -
Wayfair to exit Germany, cut 730 jobs as it looks to focus on physical retail
Wayfair, an early e-commerce disruptor, wants to focus more on physical retail and has decided to exit the German market and cut 730 jobs as a result.CNBC - Jan. 10 -
Questions mount over budget cuts made ahead of L.A.-area wildfires
Los Angeles city leaders are facing mounting questions over whether the city was prepared as the wildfires, including the Palisades Fire, broke out. L.A. Mayor Karen Bass is also facing criticism ...CBS News - Jan. 10 -
The Fed Is in No Rush to Cut Rates
Fed officials have signaled that it will take more than one weak report to convince them that the labor market is deteriorating.The New York Times - Jan. 10 -
Macy's, Kohl's announce nationwide store closures: Here's where
Combined, the companies are closing roughly 90 stores nationwide.The Hill - Jan. 10 -
Whitehall braced for spending cuts after UK hit by bond market turmoil
Rising gilt yields mean government departments may face further squeezeFinancial Times - Jan. 10 -
California authorities give update on L.A. fires and announce school closures
California officials held a news conference on Thursday evening about the wildfires in the Los Angeles area. They announced that all Los Angeles Unified School District schools will be closed on ...CBS News - Jan. 9 -
L.A. fire chief on whether budget cuts impacted the fire response
Los Angeles Fire Chief Kristin Crowley spoke to "CBS Evening News" anchor and managing editor Norah O'Donnell about whether $17 million in budget cuts hindered the agency's wildfire response.CBS News - Jan. 9 -
Microsoft confirms performance-based job cuts across departments
Microsoft is cutting a small percentage of jobs across departments, based on performance, the company confirmed to CNBC on Wednesday.NBC News - Jan. 9 -
Fed Governor Bowman says December interest rate cut should be the last
Federal Reserve Governor Michelle Bowman said Thursday she supported the recent interest rate cuts but doesn’t see the need to go any further.NBC News - Jan. 9 -
Fed Governor Bowman says December interest rate cut should be the last
Bowman said Thursday she supported the recent interest rate cuts but doesn't see the need to go any further.CNBC - Jan. 9 -
Why two Fed officials doubt the need for many more rate cuts
One official warned that “progress on inflation could continue to stall.”MarketWatch - Jan. 9 -
Cutting out alcohol for "Dry January"
Many Americans are starting off this new year by focusing on sobriety and giving up alcohol for Dry January. CBS News' Bradley Blackburn has more.CBS News - Jan. 9 -
4 in 10 companies planning job cuts due to AI: Survey
Companies across the globe, at least four in 10, are likely to cut jobs as artificial intelligence (AI) continues to advance, new research shows. A survey in the World Economic Forum's (WEF) latest ...The Hill - Jan. 9 -
Musk: Cutting $2T through DOGE ‘best-case outcome’
Tesla CEO Elon Musk said Wednesday that the best-case scenario would be to make $2 trillion in cuts to federal spending through the "Department of Government Efficiency" (DOGE) he is co-leading. “I ...The Hill - Jan. 9 -
Microsoft confirms performance-based job cuts across departments
Microsoft said it's cutting a small percentage of jobs across departments, based on performance.CNBC - Jan. 9 -
U.S. Efforts to Cut Emissions Stalled in 2024 as Power Demand Surged
After staying flat for nearly two decades, electricity use is starting to rise again, and the boom in wind and solar power hasn’t kept pace.The New York Times - Jan. 9 -
Tax Cuts or the Border? Republicans Wrestle Over Trump’s Priorities.
President-elect Donald J. Trump has waffled on his preferences for how his party tackles his agenda, adding to the uncertainty for Republicans.The New York Times - Jan. 9 -
Fed officials saw need for ‘careful approach’ to future rate cuts
Minutes from December meeting show policymakers are concerned about US inflation risksFinancial Times - Jan. 8 -
Rate-Cut Decision Was Narrow, Fed Minutes Show
Stubborn inflation, and potential tariffs, make future rate cuts uncertain.The New York Times - Jan. 8 -
Lloyds Banking Group’s branch shake-up fuels concern over closures and job cuts
Company’s customers across Halifax, Bank of Scotland and flagship brand to be allowed to use others’ premisesFinancial Times - Jan. 8 -
Fed Minutes May Show Why More Rate Cuts Will Face Hurdles
After a quarter-point cut in December, Chairman Jerome Powell said policymakers may be more cautious, since the incoming administration will create more uncertainty.Inc. - Jan. 8
