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Nestle to cut 16,000 jobs worldwide
Nestle, the Swiss food giant whose brands include Nespresso coffee and Perrier water, announced Thursday plans to cut 16,000 jobs worldwide over the next two years, sending its share price soaring. The layoffs include 12,000 white-collar jobs over the next two years, saving the company one billion Swiss francs -- which it said was double what had been previously planned.
Don't let the party stop: Berlin's fight against 'club death'
Berlin, long hailed as one of the world's great party cities, is fighting to keep its famed techno clubs alive in the face of soaring prices, shifting tastes and a tightening property market.
AI boom delivers record net profit for Taiwan's TSMC
Taiwanese tech titan TSMC reported Thursday a forecast-busting record net profit for the third quarter on skyrocketing demand for microchips used to power iPhones and artificial intelligence. TSMC said net profit for the three months to September soared 39.1 percent from a year ago to NT$452.3 billion (US$14.7 billion).
Nestle says to cut 16,000 jobs worldwide over next two years
Nestle, the Swiss food giant whose brands include Nespresso coffee and Perrier water, will eliminate 16,000 jobs worldwide over the next two years, its new chief executive said on Thursday.
Asia stocks rise as traders weigh China-US row, rate cut hopes
Asian equities edged up Thursday as investors weighed the latest volleys in the China-US trade war and expectations that the Federal Reserve will continue cutting interest rates this year. Bets on US rate cuts, a weaker dollar and worries about the latest China-US flare-up, have helped push gold to daily records and on Thursday it hit a peak of $4,234.70.
United sees demand 'strengthening' as profits edge lower
United Airlines reported a slight dip in profits Wednesday as operating expenses ticked higher, adding that a strengthening demand outlook would boost fourth-quarter results. United is poised for a "strong" fourth quarter "as the demand environment strengthens," said a United press release.
Syria won't wait for global community to reform economy: Finance Minister
Syria is in a hurry to rebuild its war-torn economy and will not wait for the international community to begin making those changes, the country's finance minister said Wednesday. Syria's government faces a monumental challenge in rebuilding the country's war-torn economy after more than 15 years of civil war -- something Barnieh estimated would likely cost "tens of billions" of dollars.
Exiting TED leader clings to tech optimism
Chris Anderson took over TED 25 years ago, when the internet was young and optimism abounded about the future it could deliver. "I felt I'd come home to that heroic group of people dreaming about the future and what the future could be," Anderson said.
EU economy chief urges G7 to join plan tapping Russia assets for Ukraine
The EU will urge G7 partners to consider tapping immobilized Russian assets in aiding Ukraine, the bloc's economy commissioner told AFP on Wednesday, as finance ministers of the group convene in Washington. Also on the Group of Seven ministers' agenda are discussions on China's recently announced curbs on rare earths, commissioner Valdis Dombrovskis told AFP in an interview.
AFP
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