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Nokia to cut up to 10,000 jobs over next two years
Nokia on Tuesday announced plans to cut up to 10,000 jobs within two years to trim costs and invest more in research capabilities, as the Finnish telecoms group seeks to step up its challenge to Sweden’s Ericsson and China’s Huawei.
VW to cut up to 4,000 jobs via early retirement
Carmaker Volkswagen plans to cut up to 4,000 jobs at its plants in Germany by offering early or partial retirement to older employees in a move that could cost several hundred million euros, company sources said.
OPEC+ set to ease record oil cuts from August
OPEC and allies such as Russia will ease record oil supply curbs from August as the global economy slowly recovers from the coronavirus pandemic, Saudi Energy Minister Prince Abdulaziz bin Salman said on Wednesday.
Sunak plans to create 'freeports,' cut taxes
Britain's Chancellor of the Exchequer Rishi Sunak is preparing to introduce sweeping tax cuts and an overhaul of planning laws in up to 10 new “freeports” within a year of the UK's becoming fully independent from the European Union in December, the Sunday Telegraph said.
Malaysia set to cut key rate to record low: Decision guide
Malaysia is set to cut its benchmark interest rate to its lowest level on record as it seeks to support the reopening economy amid soaring unemployment and the threat of recession.
British finance minister plans emergency cut in value-added tax
British Finance Minister Rishi Sunak is ready to cut the value-added tax (VAT) as part of the government's latest efforts to tackle economic fallout from the coronavirus outbreak.
BP to cut 10,000 jobs amid huge drop in oil demand
BP has announced plans to cut 10,000 jobs, representing about 15 percent of the oil group’s 70,000 staff, by the end of the year.
OPEC+ to meet on extending cuts, pushing for compliance
OPEC and its allies, led by Russia, will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria to comply with existing curbs.
Singapore cuts 2020 economic forecasts for third time on coronavirus concerns
Singapore drastically downgraded its economic forecast for 2020 after its coronavirus-hit economy contracted in the first quarter of the year, official data showed on Tuesday.
Emirates plans to cut about 30,000 jobs amid virus outbreak
Emirates Group is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring down its number of employees by about 30 percent from more than 105,000 at the end of March.
Saudi Arabia to cut oil output by another 1m barrels a day
Saudi Arabia said Monday it had asked oil giant Aramco to cut an additional one million barrels per day from June, to support prices that have crashed during the coronavirus crisis.
Breast cancer screening can cut deaths by 40%
Women who undergo early breast cancer screening are 40 percent less likely to die of the disease, new research revealed.
British Airways to cut up to 12,000 jobs as air travel collapses
British Airways is set to cut up to 12,000 jobs from its 42,000-strong workforce due to a collapse in business because of the coronavirus pandemic.
OPEC+ agrees to biggest-ever oil cut to support prices
OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20%.
Top oil producers agree on deal to cut output by 9.7m bpd
OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10 percent of global supply, to support oil prices amid the coronavirus pandemic.

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