Latest in Steel Cut
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Thyssenkrupp Steel to Cut 11,000 Jobs
The workforce will be reduced by 40% through job cuts, outsourcing and business sales. There are 27,000 jobs in production and administration.Business - The Wall Street Journal - Yesterday -
‘Incompetent’ FCA slammed by MPs
Report calls for overhaul of UK regulator after three-year probe heard from whistleblowers and former staffBusiness - Financial Times - 2 days ago -
Thyssenkrupp to slash 40% of steel jobs in latest blow to German industry
Division to shed 11,000 roles amid oversupply in Europe and rise in cheap Asian importsBusiness - Financial Times - Yesterday -
At least 12 dead in Mexico steel plant explosion
An explosion at a Simec-owned steel plant in Mexico’s central Tlaxcala state in the early hours of Wednesday killed at least 12 people, state authorities said.Top stories - NBC News - October 30 -
Steel Maker ThyssenKrupp to Slash 11,000 Jobs in Germany
The venerable steel producer, which has been struggling against high energy prices at home and growing competition from abroad, is the latest company in Europe to cut its work force.Business - The New York Times - Yesterday -
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12 dead and 1 injured in explosion at steel plant in central Mexico
Twelve people have died in a fire at a steel plant in central MexicoWorld - ABC News - October 30 -
UK holds talks with China’s Jingye to avert closure of British Steel plants
Support package drawn from £2.5bn war chest being prepared to try and keep Scunthorpe site openBusiness - Financial Times - November 9 -
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Snowstorms, steel and a celebrity deer: Gregory Halpern goes home – in pictures
The acclaimed photographer spent two decades photographing his hometown of Buffalo, New York – capturing its ‘quiet resilience and strange beauty’. Continue reading...World - The Guardian - November 14 -
California House Race Between Steel and Tran Is Closest in the Nation
The closest House race in the nation is in Southern California, where Representative Michelle Steel is trailing her challenger, Derek Tran, by a tiny margin after nearly 310,000 votes have been ...Top stories - The New York Times - November 20 -
Steele blasts Trump's return to White House as opening 'Pandora's box of hell'
Former Republican National Committee (RNC) Chair Michael Steele compared President-elect Trump’s return to the White House to opening “Pandora’s box of hell” on Tuesday. “He can’t be an American ...Politics - The Hill - 12 hours ago -
Grupo Simec Steel-Plant Explosion Leaves at Least 12 Workers Dead in Mexico
An explosion and fire at a steel plant operated by Grupo Simec in central Mexico left at least 12 workers dead and another injured.World - The Wall Street Journal - October 30 -
Taxpayers set to lose out under Gupta’s UK steel unit restructuring plans
Claims by HMRC would be reduced 80% in restructuring of its Speciality Steel UK businessBusiness - Financial Times - November 15 -
Walmart cuts DEI
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Walmart rolls back DEI policies under pressure Walmart will roll back diversity, ...Politics - The Hill - 17 hours ago -
OPEC extends oil output cuts
The OPEC bloc of oil-producing nations announced Monday that it will extend oil production cuts through the end of 2024, spurring a 2 percent increase in the price of U.S. benchmark West Texas ...Politics - The Hill - November 4 -
Associated Press to Cut Staff by 8%
The reductions come just two weeks after Election Day, when The A.P. played a key role in calling races across the United States.Business - The New York Times - November 18 -
Ford to cut 4,000 jobs in Europe
Headcount reduction comes as industry faces pressure over EV switch and competition from ChinaBusiness - Financial Times - 6 days ago -
Biden Cuts Intel’s Chip Award by More Than $600 Million
The Silicon Valley company will receive less money from the CHIPS Act after winning a $3 billion military contract and changing some of its investment commitments.Business - The New York Times - 21 hours ago -
Woolworths Cuts Expectations for Australian Food Earnings
Australian grocer Woolworths expects fiscal first-half earnings in its key Australian food division to be below previous expectations, as customers continue to be price conscious when facing cost ...Business - The Wall Street Journal - October 29 -
GSK cuts vaccine sales target on reduced demand
U.K. drugmaker GSK on Wednesday cut its vaccine sales guidance for the year after what it called lower-than-expected demand.Business - MarketWatch - October 30 -
Dropbox to cut 20% of workforce as it moves to boost growth
Dropbox Inc.’s stock rose 3.9% Wednesday after the online-storage platform said it expects third-quarter earnings to meet or beat guidance for revenue and other metrics but also said it’s cutting ...Business - MarketWatch - October 30 -
Volkswagen in Drive to Cut Costs as Earnings Plunge
The automaker said it needed to urgently cut costs after reporting a sharp fall in third-quarter earnings hurt by weaker car sales in China.Business - The Wall Street Journal - October 30 -
Bill Gates criticises Budget cut to overseas aid
Hidden in the Budget was a decision not to renew a Tory-era £2.5bn top-up to the UK's overseas aid budget.Top stories - BBC News - October 31 -
Stellantis Says Moving Quickly to Cut U.S. Inventories
Stellantis said third-quarter group shipments fell 20% on the year as the company works to reduce the number of cars stocked at U.S. dealers and as it suffered from gaps in its product line-up ...Business - The Wall Street Journal - October 31 -
STMicroelectronics Cuts Outlook Again on Continued Weak Demand
STMicroelectronics slashed its annual guidance for the third time this year after posting a slump in net profit and sales, as demand for chips in cars and industrial equipment remained weak.Business - The Wall Street Journal - October 31 -
Smith & Nephew cuts outlook on China weakness
FTSE 100 medical manufacturer reports price pressures and worse-than-expected demandWorld - Financial Times - October 31 -
Brewers Struggle as Drinkers Cut Back on Beer Worldwide
Consumers around the world are drinking less beer, putting brewers in a bind.Business - Inc. - October 31 -
Ukraine and US warn Kyiv’s troops could face North Korean forces ‘in days’
New assessment finds as many as 8,000 soldiers have been deployed to Russia’s Kursk regionBusiness - Financial Times - October 31 -
Adani begins to cut off power supplies to Bangladesh
Indian conglomerate threatens to halt flows from coal-fired plant over debt disputeBusiness - Financial Times - November 3 -
Ryanair profit drops as airline cuts passenger forecast
European low-cost carrier blames pressure on consumers for fall in faresBusiness - Financial Times - November 4 -
Which gold investment is best when rates are cut?
Some gold assets are better than others when interest rates are dropping, experts say.Top stories - CBS News - November 4 -
South Carolina women clear-cut betting favorites
South Carolina was viewed as a second-tier contender, not one of the clear favorites, entering last season. Oddsmakers aren't doubting the Gamecocks this season, though.Sports - ESPN - November 4 -
Honda Motor Cuts Forecasts for Car Sales, Profit
The Japanese automaker cut its annual forecasts for car sales and net profit after posting a drop in first-half earnings due partly to weakness in its auto business in China.Business - The Wall Street Journal - November 6 -
Trump’s victory means fewer Fed rate cuts
“Trump is a president who likes to spend, he was a real-estate developer who loves to borrow. I don’t think he’s shaken either of those ideals,” notes one analyst.Business - MarketWatch - November 6 -
Interest rates cut but Bank hints fewer falls to come
Interest rates were cut to 4.75% but the Bank expects inflation to creep higher after last week's Budget.Top stories - BBC News - November 7 -
Bangladesh staves off more Adani power cuts
Dhaka makes assurances to clear its bills after conglomerate threatened to halt electricity suppliesWorld - Financial Times - November 7
