Rodrick Cuts Budget 9% – No Municipal Tax Increase
On June 30th, Mayor Rodrick and the Toms River Township Council presented a budget for 2025 that has a 9% reduction in overall spending while maintaining a zero percent tax increase. The…
Chip crunch to cut Stellantis’ Italy 2022 output by up to 220,000 vehicles -union
MILAN – A global crunch in semiconductor supply could cost Stellantis up to 220,000 vehicles this year in terms of lost output in Italy, the FIM CISL union said, adding this would…
UK government proposes VAT cut to ease pain of rising prices-The Times
(Reuters) -Britain has proposed a cut in value-added tax, or VAT, to help households with the cost of living, The Times reported on Thursday. Prime Minister Boris Johnson’s chief of staff Steve…
Flag Pole at New Jersey VFW Cut Down by Vandals
PARAMUS, NJ – Police aren’t sure why, but vandals cut down the flag pole bearing the American flag and POW-MIA flag in front of Paramus VFW POST 6699 overnight Wednesday. Members of…
China needs to keep options to cut RRR, rates while waiting for bounce, says ex-regulator
SHANGHAI – China’s central bank needs to keep cuts to interest rates and banks’ reserve requirement ratio among its policy options while waiting for the economy to bounce back, a former senior…
Companies cut spending, jobs as outlook grows less certain
By Medha Singh (Reuters) – Executives at electric car marker Tesla, drug maker Novartis and retailer Bed Bath and Beyond are cutting spending or jobs while others are shelving projects or deals…
Lufthansa’s Swiss unit to cut 2% of flights between August and October
FRANKFURT – Deutsche Lufthansa’s Swiss business said on Tuesday it would cut about 2% of its flights scheduled between August and October because of labour shortages, strikes and rising COVID-19 infections. Swiss…
Volkswagen to cut working hours, wages in Brazil as parts shortage deepens
SAO PAULO – Volkswagen AG is set to cut working hours and wages at its Sao Bernardo do Campo factory in Brazil as it grapples with a lack of auto parts and…
Tesla to cut salaried workforce by 10% over next 3 months, says Musk
DUBAI – Electric carmaker Tesla will reduce its salaried workforce by roughly 10% over the next three months, Chief Executive Elon Musk said on Tuesday. The cuts would amount to about a…
Businesses must help cut cost of living, UK government adviser says
LONDON – Businesses should do more to reduce prices in the coming months to help Britons struggling with rising inflation, the government’s cost of living tsar said, as a minister warned of…
House Dems Approve Massive Defense Budget Despite Calls To Cut Spending
House Dems Approve Massive Defense Budget Despite Calls To Cut Spending Micaela Burrow on June 16, 2022 The House Appropriations Subcommittee on Defense approved House Democrats’ personnel-focused $762 billion defense budget Wednesday…
Nord Stream 1 gas supply cut aimed at sowing uncertainty, Germany warns
By Madeline Chambers and Christoph Steitz BERLIN -Russia’s Gazprom on Wednesday announced a further cut in the amount of gas it can pump through the Nord Stream 1 pipeline to Europe, a…
Real estate brokers Compass, Redfin to cut jobs as housing market cools
(Reuters) – Real estate brokers Compass Inc and Redfin Corp said on Tuesday they will cut jobs as rising mortgage rates and the prospect of aggressive rate hikes eat into homebuying demand.…
Stitch Fix to cut workforce by 15% of salaried roles
(Reuters) -Stitch Fix Inc said on Thursday it is reducing its workforce by around 15% of salaried positions, as the online personalized styling service firm aims to return to profitability. Decades-high inflation…
Russia does not expect to cut gas to more European customers
(Reuters) -Russia said on Thursday it did not expect Gazprom to cut gas supplies to any more European customers and said its scheme to make buyers pay for gas in roubles was…
Turkey’s lira, bonds extend decline on inflation, rate cut concerns
By Nevzat Devranoglu ANKARA -Turkey’s lira tumbled more than 2% against the U.S. dollar on Wednesday and its bonds dropped sharply as worries grew over a surge in inflation and depleted official…
Indonesia to cut maximum palm oil export tax and levy to a combined $488/T – trade minister
By Stefanno Sulaiman JAKARTA – Indonesia Trade Minister Muhammad Lutfi said on Tuesday the government would bring down its combined maximum crude palm oil export and levy rate to $488 per tonne…
UK shoppers cut spending by most since COVID lockdown in 2021
By William Schomberg LONDON – British shoppers facing a surge in inflation cut their spending in May by the most since the country was in a coronavirus lockdown in early 2021, according…
Amarin to slash jobs as generic rivals dull U.S. prospects of heart drug
(Reuters) -Amarin Corp Plc said on Monday it would cut its workforce by 40%, as the drugmaker’s fish-oil derived heart drug faces stiff competition from generic rivals in the United States. About…
Speculators cut net long bets on U.S. dollar -CFTC, Reuters
By Saqib Iqbal Ahmed NEW YORK -Speculators’ net long bets on the U.S. dollar fell to a five-week low, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released…
GM to cut prices on EV Chevrolet Bolt up to 18 percent
(Reuters) – General Motors Co on Wednesday said it will sharply cut prices on its electric Chevrolet Bolt after the Detroit automaker had halted sales for six months following a battery recall.…
U.S. says it will cut costs for clean energy projects on public lands
(Reuters) – The Biden administration on Tuesday said it would substantially reduce the cost of building wind and solar energy projects on federal lands to help spur renewable energy development and address…
Brazil set to make another 10% cut in import tax rates
BRASILIA -Brazil’s government announced on Monday a new 10% reduction in the tax rate for import goods on a large part of products purchased abroad, aiming to reduce inflationary pressures. The economy…
Brazil’s Air Force to cut Embraer order to 15 aircraft -report
SAO PAULO -The Brazilian Air Force has decided to cut its order for Embraer SA’s KB-390 military cargo planes to 15 aircraft from 22 previously, according to a report from local newspaper…
Exclusive-Europe aims to revive magnesium output by 2025 to cut China reliance
By Eric Onstad LONDON – EU policymakers have launched a drive to restart domestic output of magnesium, used in aluminium and steel products, with at least three firms working on projects, according…
Inflation crimps Indian firms as rural millions cut spending
By Krishna N. Das and Aftab Ahmed NEW DELHI – Surging inflation is forcing many poor Indians to rein in spending, threatening a slowdown for companies such as Godrej Appliances which saw…
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