Saturday, Jul 4, 2020
International Finance

Tag : cut

Economy

Brexit may change growth rate from 2.2% to 1.4%

UK companies to benefit from cut in corporation tax IFM Correspondent November 25, 2016: Chancellor Philip Hammond delivered the last Autumn Statement this year and said that the government is focused on preparing and supporting the economy as they begin to write a new chapter in the country’s history. Hammond spoke about tackling the weaknesses in...
Economy

Oil price down cycle ‘nearing end’: Saudi minister

“Market fundamentals, in terms of supply and demand, have begun to improve” IFM Correspondent October 26, 2016: Speaking at the World Energy Congress in Istanbul, Turkey, Saudi Arabia’s Energy Minister Khalid al-Falih said that as market fundamentals improve, the current down cycle of crude prices is close to an end. Oil prices are currently hovering...
Banking

Lloyds Bank to cut 3,000 jobs

This follows Britain’s decision to quit the European Union July 28, 2016: Lloyds Banking Group is set to cut 3,000 jobs and shut 200 branches as it prepares for a cut in interest rates following Britain’s decision to quit the European Union, it said. The bank, which is 9 per cent owned by the government,...
Economy

IMF cuts its global growth

Predicts increase in uncertainty after Brexit IFM Correspondent July 20, 2016: Keeping a close eye on Brexit and its anticipated impact, the International Monetary Fund (IMF) has cut its global growth forecasts for the next two years. The move included a nearly full percentage point reduction in the UK’s 2017 growth forecast. Cutting its World...
Economy

Saudi Arabia cuts back its solar target

No concrete reason given; wants to concentrate on gas Suparna Goswami Bhattacharya June 28, 2016: In a move that has surprised many, Saudi Arabia has scaled back its renewable power targets as the world’s largest producer of oil plans to use more natural gas, backing away from goals set when crude prices were about triple...
Economy

50% of oil & gas companies in UK cut jobs

One-third of companies plan further lay-offs this year, says a report IFM Correspondent June 7, 2016: About 50% of all oil and gas companies in the UK were forced to cut jobs in the past 12 months, says a recent report. The Bank of Scotland/Lloyds Banking Group surveyed 141 companies in the sector. The report...