Daily financial roundup: November 25
A summary of what's happening in the business world today. -AsiaOne
Tue, Nov 25, 2008
AsiaOne
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Cut in annual pay for top civil servants IN THE wake of a worsening economic climate, senior civil servants will take a pay cut of up to 19 per cent next year. They include political, judicial and statutory appointment holders as well as ministers. ... more |
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Other stories Big bonus cuts for top managers in DBS Senior managers would see larger pay cuts than junior staff. -Reuters SIA not cutting salaries for now Spokesman says there are existing mechanisms in place. -Reuters US govt goes to Citigroup's rescue Bank to receive capital injection of US$20b and credit loss guarantees. -Reuters Some analysts said the plan set a dangerous precedent. -AFP Google to cut contract workers: WSJ But it has no plans at this time to lay off employees. -Reuters The sponsorship contract, believed to pay Woods US$7 million a year, was due to expire at the end of 2009. -AFP
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