Category: Cut
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Chile’s central bank has cut its benchmark rate to 5.5%, from 5.75%
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Matter Labs to cut 16% of workforce amid organizational restructuring
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Matter Labs, the lead developer of Ethereum’s layer 2 ZKsync solution, has announced that it will reduce its workforce by 16% due to a major organizational restructuring. The company will scale back these functions to better align with evolving technology and support needs of ZKsync (ZKSY) developers. in statement Speaking…
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Exclusive-Intel CEO to pitch board on plans to shed assets, cut costs, source says
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By Max A. Czerny and Milana Finn (Reuters) – Intel Corp Chief Executive Pat Gelsinger and top executives are expected to present a plan later this month to the company’s board to cut non-essential businesses and reorganize capital spending in an effort to revive the fortunes of the once-dominant chipmaker,…
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Exclusive-Intel CEO to pitch board on plans to shed assets, cut costs, source says By Reuters
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By Max A. Czerny and Milana Finn Intel Chief Executive Pat Gelsinger and top executives are expected to present a plan later this month to the company’s board to cut non-essential businesses and reorganize capital spending in an effort to revive the fortunes of the once-dominant chipmaker, a person familiar…
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Czech finance ministry submits 2025 budget draft to cut deficit by 9% By Reuters
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PRAGUE (Reuters) – The Czech finance ministry has presented a draft budget for 2025 with a 9% lower deficit to the government, saying it would bring record investment while narrowing the fiscal gap to around 2% of gross domestic product. The draft budget, presented at midnight on Saturday, projects a…
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US dollar rises broadly as inflation data underpins smaller Fed cut By Reuters
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By Gertrude Chavez Dreyfus NEW YORK (Reuters) – The U.S. dollar rose on Friday after data showed a key measure of inflation came in in line with expectations, while personal spending and income increased, supporting expectations that the Federal Reserve will likely cut interest rates by a smaller 25 basis…
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US dollar rises broadly as inflation data underpins smaller Fed cut By Reuters
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By Gertrude Chavez Dreyfus NEW YORK (Reuters) – The U.S. dollar rose on Friday after data showed a key measure of inflation came in in line with expectations, while personal spending and income increased, supporting expectations that the Federal Reserve will likely cut interest rates by a smaller 25 basis…
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BoI Governor: No rate cut until second half 2025
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Bank of Israel Governor Prof. Amir Yaron told Globes that any interest rate cut may not come before the second half of 2025, if inflation moderates. The Monetary Committee of the Bank of Israel decided yesterday to keep the interest rate unchanged at 4.5%. The absence of a 2025 budget,…
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How Will The US Upcoming Fed Rate Cut Impact Bitcoin? QCP Analysts Weigh In
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With a US Federal Reserve rate cut fast approaching, analysts at QCP Capital, a global digital asset trading firm and market maker, have now shared their predictions. prediction About how this development will affect the price of Bitcoin. According to analysts, the upcoming US non-farm payrolls report and GDP data…
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ECB Muller says confidence growth in Sep cut but after that is less certain
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Scrap 5p fuel duty cut as drivers miss out on savings, says RAC
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A royal advisory committee has called for the 5p fuel tax cut to be scrapped, claiming motorists are not benefiting as intended. Introduced in 2022 to ease the cost of living crisis, the cut is costing the Treasury £2bn a year but has failed to translate into savings at the…
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Senator Rick Scott questions Intel CEO on job cut despite $20B grants – report
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hapapapa Republican Senator Rick Scott asked Intel (NASDAQ:INTCApple Inc. plans to cut more than 15,000 jobs despite a planned $20 billion in federal funding, Reuters reported, citing a letter to Gelsinger. The funding from the U.S. Department of Commerce aims to boost the semiconductor manufacturing sector. He expressed concerns about…
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Currencies tread water as Middle East risks temper rate cut optimism By Reuters
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Written by Ray Wee SINGAPORE (Reuters) – The dollar edged up on Tuesday and major currencies traded sideways as lingering concerns over tensions in the Middle East partly overshadowed investor optimism about an imminent U.S. interest rate cut. Geopolitical risks kept early currency moves subdued, although fears of an escalation…
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Asia FX firms, yen strong as rate cut bets put dollar at 13-mth low By Investing.com
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Most Asian currencies rose on Monday, with the Japanese yen rising sharply amid growing bets that the Federal Reserve will cut interest rates in September, putting the dollar at a 13-month low. Most regional currencies extended their gains from last week, especially after comments from Federal Reserve Chairman Jerome Powell…
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Maytronics slumps further as guidance cut, CFO leaving
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Israeli company to manufacture swimming pool cleaning robots Maytornix Co., Ltd. (level:MTRN) continues to disappoint investors on the Tel Aviv Stock Exchange (TASE) by reporting another quarter of disappointing results, and cutting guidance for the second straight quarter. As a result, the company’s share price is currently down 20%, giving…
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Morgan Stanley latest to cut oil demand growth forecast on China factors (NYSEARCA:USO)
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SlavkoSereda/iStock via Getty Images Crude oil futures settled higher on Friday but fell for the week as the market digested bullish U.S. inventory data and Federal Reserve Chairman Jerome Powell delivered his speech. Strongest signal yet The central bank will cut interest rates next month. Earlier this week, oil futures…
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British steel to cut 2,500 jobs despite £600m taxpayer-funded green initiative
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British Steel is set to close its blast furnaces in Scunthorpe by the end of the year, putting 2,500 jobs at risk. The move comes as the Chinese-owned company seeks to accelerate its transition to green steel production, despite receiving £600m in taxpayer support. The company is in talks with…
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Top economist Mohamed El-Erian says traders are too aggressive on Fed rate cut expectations
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Mohamed El-Erian said traders are overestimating the chances of the US Federal Reserve making sharp interest rate cuts before the end of the year. “It’s problematic in my mind that the market is pricing in a lot of price cuts right now,” said El-Erian, president of Queens’ College, Cambridge. Bloomberg…
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Top economist Mohamed El-Erian says traders are too aggressive on Fed rate cut expectations
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Mohamed El-Erian said traders are overestimating the chances of the US Federal Reserve making sharp interest rate cuts before the end of the year. “It’s problematic in my mind that the market is pricing in a lot of price cuts right now,” said El-Erian, president of Queens’ College, Cambridge. Bloomberg…
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FOMC Minutes Confirmed Majority Leaned Towards a September Cut
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Minutes of the July 30-31 Federal Open Market Committee meeting indicated that a “substantial majority” of members believed it was “likely appropriate to ease policy at the next meeting.” Although policymakers agreed to keep interest rates unchanged at the time, the minutes also revealed that some officials were leaning toward…