Business

Cisco laying off 5500 employees, or 7 percent of workforce

Cisco laying off 5500 employees, or 7 percent of workforce

The stock was down about 1 per cent in extended trading. Cisco's sales were in line with analysts' consensus outlook of $12.6 billion. "We expect to reinvest substantially all of the cost savings from these actions back into these businesses and will continue to aggressively invest to focus on our areas of future growth", Cisco said in a statement .


Lagos is 'third worst' city to reside in, says The Economist

Lagos is 'third worst' city to reside in, says The Economist

Melbourne City Council released a statement saying they are "thrilled to be crowned the world's most liveable city for the sixth year in a row". In a study of the world's 140 major cities , not a single US city makes the top 10 list for the "most livable".



Markets Right Now: Stocks closing higher on Wall Street

On Tuesday, the dollar went as low as ¥99.55, its lowest level since the U.K.'s decision to leave the European Union in late June. New York Fed President William Dudley, who said earlier this week that the central bank could possibly hike rates in September, reinforced his hawkish message on Thursday but that did little to support the bruised dollar.


Guns N' Roses extends reunion tour to Japan, Australia

Guns N' Roses extends reunion tour to Japan, Australia

Guns N' Roses are touring Australia in February 2017 for the first time since 1993. A special kick-off event takes place Thursday from 3 until 7 pm with a DJ set, door prizes and ticket giveaways. The Not in This Lifetime tour ends February 21 at Domain Stadium in Perth, Australia. Click through the slide show above to see some pieces from the John Varvatos x GNR collection.



Gold down more than 1% on US Fed rate hike views

According to some comments, the markets are now determining that the minutes were dovish as the committee was split on whether and when to raise interest rates. Investors will watch Fed Chairwoman Janet Yellen as she speaks at a monetary policy conference in Jackson Hole, Wyo. next Friday. The minutes said "a couple" of officials had advocated a rate increase at the July meeting.



Stocks indexes fall, dollar rises on rate-hike bets

Dallas Fed president Robert Kaplan, however, saw limited room to manoeuvre on rate hikes. Japan's Nikkei.N225 erased earlier gains to trade 0.1 percent lower , set for a weekly loss of 2.6 percent. All major sectors in Europe were in the red. Yesterday's session was the quietest in terms activity across Europe's stock exchanges in almost three months, according to Thomson Reuters data.