World-Business
Samsung predicts profit decline as chip market swoons
Seoul, Oct 8 (AP/UNB) — Samsung Electronics on Tuesday predicted its operating profit for the last quarter will fall by more than half from a year earlier amid sluggish global demand for computer chips.
HSBC to cut up to 10,000 jobs: report
London, Oct 6 (Xinhua/UNB) -- The London-headquartered HSBC Holdings Plc. plans to axe up to 10,000 jobs in an effort to cut costs, according to media reports on Sunday.
The layoffs account more than 4 percent of the banking titan's workforce, said the Financial Times.
According to the bank's 2019 interim report, the group had over 237,000 full-time employees at the end of June 2019.
The news comes a month after HSBC Chief Executive Officer John Flint surprisingly stepped down in August as the bank deemed a change necessary at the top to tackle an increasingly complex and challenging global environment.
The paper said the latest layoffs are part of the saving costs plan promoted by HSBC's interim CEO Noel Quinn, who has taken over Flint's role until a successor is appointed, as the lender struggles to deal with economic uncertainties across the world, including Brexit, trade disputes and falling interest rates.
Consumer goods giant Unilever vows to slash use of plastic
The Hague, Oct 7 (AP/UNB) — Consumer products giant Unilever, whose brands include Dove soaps and Lipton teas, said Monday it aims to halve its use of non-recycled plastics by 2025.
Business economists foresee slowdown in US growth
Washington, Oct 7 (AP/UNB) — The nation's business economists think President Donald Trump's trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year.
BMW to recall defective vehicles in China
Beijing, Oct. 5 (Xinhua/UNB) -- German auto brand BMW will recall 45 cars in the Chinese market due to problems in engine control modules, according to China's market regulator.
74th UNGA side event on Social Business, Youth and Technology held
Dhaka, Oct 5 (UNB) - The 74th UN General Assembly’s high-level side event on ‘Social Business, Youth and Technology’ was recently held at the UN Headquarters.
EU trade chief nominee urges US not to launch new tariff war
Brussels, Oct 1 (AP/UNB) — The Irishman set to take over as the European Union's top trade official on Monday urged the United States not to launch an economically damaging tariff war with the bloc over subsidies to Airbus and Boeing.
China to send its top trade negotiator to US for talks
Beijing, Sep 30 (AP/UNB) — China's top trade negotiator will lead an upcoming 13th round of talks aimed at resolving a trade war with the United States, a senior Chinese official said Sunday.
Alibaba's Ma steps down as industry faces uncertainty
Beijing, Sep 10 (AP/UNB) — Alibaba Group founder Jack Ma, who helped launch China's online retailing boom, stepped down as chairman of the world's biggest e-commerce company Tuesday at a time when its fast-changing industry faces uncertainty amid a U.S.-Chinese tariff war.
Nissan board says chief has resigned, successor to be named
Yokohama, Sep 9 (AP/UNB) — Nissan Chief Executive Hiroto Saikawa tendered his resignation Monday after acknowledging that he had received dubious income and vowed to pass the leadership of the Japanese automaker to a new generation.