US President Donald Trump has said he will cut all future funding to South Africa over allegations that it was confiscating land and “treating certain classes of people very badly”. Last month, President Cyril Ramaphosa signed into law a bill that allows land seizures without compensation in certain circumstances. Land ownership has long been a…
British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024. Nurphoto | Nurphoto | Getty Images British oil major BP on Thursday said it is planning to cut thousands of jobs as part of a major cost-reduction exercise. “Today, we have today told staff across bp that…
Piccadilly Circus is seen at dusk, on 7th January 2025, in London, England. Richard Baker | In Pictures | Getty Images LONDON — Traders bet on more Bank of England rate cuts this year after weak retail sales data added to the latest in a run of data surprises this week. Sales volumes fell 0.3%…
Oil giant BP is to cut about 4,700 staff, more than 5% of its total workforce, as part of its plans to cut costs. The British firm, which has a global workforce of about 90,000 people, confirmed the job losses on Thursday, but has not said how many roles will be affected in each country…
Getty Images Meta, the owner of Facebook, Instagram and WhatsApp, is preparing to cut about 5% of its global workforce, as the company looks to drop “low performers faster”. In a memo to staff, boss Mark Zuckerberg said he had made the decision to speed up the firm’s regular performance-based cuts in anticipation of an…
Slovakia’s Prime Minister Robert Fico has threatened to cut financial support for more than 130,000 Ukrainian refugees as a dispute with Ukraine over Russian gas supplies escalates. On 1 January, Kyiv shut off a pipeline that for decades was used to supply Central Europe with Russian natural gas. Slovakia had been the main entry point…
Celebrity chef Jamie Oliver has pulled his new children’s book from the shelves after complaints it stereotyped Indigenous Australians. The 400-page fantasy novel, Billy and the Epic Escape, features an Aboriginal girl with mystical powers living in foster care who is abducted from her home in central Australia. First Nations leaders have said the book…
Federal Reserve Board Chairman Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., September 18, 2024. REUTERS/Tom Brenner Tom Brenner | Reuters The Federal Reserve likely will stick to the business at hand when it wraps up its meeting Thursday with…
Bangladesh is ramping up payments to Adani Power after the Indian conglomerate reportedly cut electricity supplies by half because of an unpaid $800m bill. Two senior government officials told the BBC they are already processing partial payments to Adani, which supplies 10% of the electricity used by Bangladesh. “We have addressed payment glitches and already…
