Stock / Global

Citigroup to end sweeping overhaul this week after 5,000 layoffs

Citigroup to end sweeping overhaul this week after 5,000 layoffs

Citigroup is in the last phase of a sweeping overhaul to simplify its structure and improve performance, the bank said, after shrinking its workforce by 5,000 employees since September. The largest round of staffing moves, including reassignments and departures, will be communicated to employees f


Reddit dips day after strong NYSE debut

Reddit dips day after strong NYSE debut

Social media platform Reddit's shares ticked down 2.6 per cent before the bell on Friday, a day after it notched a 48 per cent gain in its debut on the New York Stock Exchange. The company's share sale was closely watched for more clues about investor interest in new share issues following a prolo

Asian stocks on a roll as SNB kicks off rate cuts

Asian stocks on a roll as SNB kicks off rate cuts

Asian stocks were near a weekly gain on Friday and the Nikkei charged to a record high, riding a rally from its global counterparts after a surprise rate cut from the Swiss National Bank had investors wagering who could be next. The SNB's 25 basis point rate cut on Thursday proved a shot in t

Vinyl revival rocks Britain's inflation basket

Vinyl revival rocks Britain's inflation basket

Vinyl records will re-enter Britain's inflation charts for the first time in 32 years this month, as part of the annual shake-up of the basket of goods and services used to calculate the pace of price rises. The change in the Office for National Statistics' inflation basket offers a snapshot of sh

Aramco boosts dividend despite drop in profit

Aramco boosts dividend despite drop in profit

Saudi Arabia's state-owned oil giant Aramco, opens new tab boosted its dividend despite net profit falling 24.7 per cent to $121.3 billion in 2023 on lower oil prices and volumes, showing the state's continued reliance on oil revenue as it seeks to diversify. The profit, down from $161.1 billion i

European shares, bonds, currency rise after US payrolls

European shares, bonds, currency rise after US payrolls

European stocks, government bond prices and the euro rose slightly on Friday after the US unemployment rate increased and earnings growth slowed, supporting expectations that the Federal Reserve could cut interest rates by the summer. The pan-European STOXX 600 was last up 0.2 per cent at a fresh

Stocks hit record highs ahead of US payrolls data

Stocks hit record highs ahead of US payrolls data

Global shares hit record highs on Friday, as investors bet on transatlantic interest rate cuts starting within months and hoped that US payroll numbers before the opening bell on Wall Street point to continued resilience, but not overheating, in the US economy. The US Federal Reserve and the Europ

The likely winners and losers from the UK budget

The likely winners and losers from the UK budget

Britain's Spring budget is due next Wednesday ahead of an election expected this year, and investors are keen to see if finance minister Jeremy Hunt can balance giveaways and growth schemes with high public debt and above-target inflation. Tax cuts and housing stimulus are expected, although too m

Global stocks hold at record highs as traders bet on rate cuts

Global stocks hold at record highs as traders bet on rate cuts

Global shares drifted around record highs on Friday after US and euro zone inflation data and weak global factory surveys kept hopes of central bank rate cuts in coming months intact. With markets dominated by bets of both the US Federal Reserve and the European Central Bank lowering borrowing cos

Global stocks near record highs

Global stocks near record highs

World stocks were near record highs on Thursday amid a monthly round of European and US inflation data, while cryptomarkets were roaring bitcoin on to its best month in over three years. European bourses shuffled higher in what will be their fourth monthly rise and one that has seen the big worldw

Asian stocks firm before US inflation test; yen gains

Asian stocks firm before US inflation test; yen gains

Chinese equities and most other regional stock markets climbed on Thursday, while the dollar held its ground against European rivals ahead of crucial US inflation data that could provide fresh clues on when the Federal Reserve will cut interest rates. The yen gained as a Bank of Japan (BOJ) offici