Citi to cut 50,000 jobs
NEW YORK - CITIGROUP Inc said on Monday it plans to cut about 50,000 jobs as souring economies and global credit conditions cause the US bank with the farthest reach worldwide to retrench.
HSBC to cut 450 jobs in HK
HONG KONG - GLOBAL banking giant HSBC said Monday it has cut 450 staff in Hong Kong in anticipation of a deteriorating global economy next year.
JPMorgan to ramp up job cuts
NEW YORK - JPMORGAN Chase will likely start cutting thousands of jobs worldwide beginning next year, Britain's Sunday Telegraph newspaper reported.
UBS axes 2008 bonuses
ZURICH - SWISS bank UBS axed bonuses for top executives on Monday and said it would introduce a more transparent pay system in the most far-reaching changes on pay at a top European lender during the credit crisis.
S'pore dollar at 14-mth low
TAIPEI - THE Singapore dollar fell to a 14-month low against the US dollar on Monday as data showing a sharp fall in the island's exports underscored the toll the global economic downturn is exerting on emerging Asia.
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