Philip Chua Business Blog

Posts Tagged ‘cut’

S’pore workers can expect 3% pay rise next year: survey
By FELDA CHAY

SUFFERED a pay cut or freeze this year and wondering when your wages will increase? A survey by human resource firm ECA International shows that employees here can expect a 3 per cent salary increase as early as next year, and only 11 per cent of companies surveyed are proposing a pay freeze for 2010.

The ECA Salary Trends… more

STI ends 16.67 points lower but off day’s low on short-covering and mixed Europe opening
THE local stock market suffered from a third consecutive Wall Street-triggered sell-off yesterday, this time resulting in 16.67 points being cut off the Straits Times Index at 2,632.31. This brings the index’s three-day losing streak to 85 points or 3.1 per cent.
It did, however, finish off its low of 2,605 y… more

The Government will not remove employers’ legal option to cut a worker’s pay at age 60, but Manpower Minister Gan Kim Yong wants bosses to show fairness and flexibility.
Weighing in on the issue after the labour movement’s call to review the longstanding practice, he agreed yesterday that companies should not automatically resort to a 10 per cent salary cut – the maximum allowed by law – without c… more

AP – After parents cut back on clothes and accessories for children this past fall, the retail industry suspects they won’t be any more generous by the holidays.

Uncertain about prospects for recovery — the economy’s and their own — employers cut 263,000 jobs in September, the government said Friday. Unemployment crept up to 9.8 percent.

AFTER returning to the pre-crisis level of $2 a litre two weeks ago, pump prices fell yesterday on the back of last week’s substantial drop in crude oil prices.
The correction of six cents a litre across the board was the single biggest reduction here this year.
Caltex, Shell and SPC made the cut in the morning, while ExxonMobil – which has the biggest retail network here – did so just before 1pm…. more

THE much-awaited August jobs data in the United States is unlikely to solve the thorny question of whether the world’s No.1 economy is back on the mend.
While US employers cut fewer jobs last month – 216,000 to be precise – than they had in months, the unemployment rate continued to climb to a fresh 26-year high at 9.7 per cent. This is due to more people entering the workforce.
For investors, thi… more

OPEC is unlikely to announce a new production cut during its meeting next week, a senior Kuwaiti oil official said in remarks published Sunday.

AP – Major stock indexes barreled higher by more than 1 percent Friday after the government said the nation’s unemployment rate unexpectedly fell in July for the first time in 15 months and that employers cut fewer jobs.

Reuters – U.S. private employers cut more jobs than expected last month and the vast services sector contracted again, stoking concern about the strength of a U.S. recovery, data showed on Wednesday.