MONEY MASTER

  Key Takeaways Singapore upgrades 2025 GDP forecast to 4% , warns of cooling to 1–3% in 2026 Nvidia reversal slams Wall Street , rate-cut bets collapse STI opens lower  as risk aversion deepens Stocks to watch: Hongkong Land, ComfortDelGro, IREIT Global, Coliwoo Singapore Markets Open Lower Singapore equities started Friday on the back foot, tracking weakness from Wall Street. STI:  4,492.52 (-0.43%) Advancers/Decliners:  18 / 123 Turnover:  S$53.48M  (9:01am) Sentiment remains cautious as traders digest hotter-than-expected US jobs data and a sharp tech-led selloff. Wall Street: Nvidia Faceplants, Jobs Data Kills Rate-Cut Hopes What began as a euphoric tech rally quickly collapsed. Nasdaq  plunged  2.2% S&P 500  dropped  1.6% Dow  lost  0.8% Nvidia surged 5.1% at the open on blowout earnings — then reversed to  -3.2% , dragging the entire AI complex down. The trigger? US payrolls jumped to 119,000 vs 50,000 expected ...

  Key Takeaways: Job Cuts in Grain Trading and Oilseed Division : Archer-Daniels-Midland (ADM), a major US grains merchant, has begun a  new wave of job cuts  in its grain trading and oilseed processing division. The layoffs are part of the company's broader cost-reduction strategy, though it’s unclear if these cuts are additional to the 700 job reductions announced in February. Cost-Cutting Strategy : In February, ADM revealed plans to cut  up to 700 jobs  globally, representing about  1.7% of its workforce , and reduce costs by  US$500 million to US$750 million  over the next three to five years. The company’s fourth-quarter adjusted profit had dropped to its  lowest level in six years , triggering the need for restructuring. Focus on the Grain Trading Unit : The job cuts are reportedly centered around ADM’s largest division, which manages the company’s  global crop trading ,  oilseed processing , and  agricultural services ....

Major US travel companies, including   Marriott International ,   Booking Holdings , and   Vail Resorts , are preparing for a challenging 2025 by trimming budgets and workforce in response to reduced demand from   lower-income travelers   and slowing   top-line growth . Marriott  plans to cut  US$80-90 million  in annual costs and lay off  800 corporate employees  in  Q1 2025 . The move aims to create a "leaner and more efficient" operation, following weak earnings this year. Booking.com  has slowed hiring, increasing its workforce by just  3%  in 2024, compared to  13%  the previous year, and may cut jobs further. Vail Resorts  aims for  US$100 million  in annual savings by  2026 , including a  14% reduction  in corporate staff. Norwegian Cruise Line Holdings  is targeting  US$300 million  in cost savings by  2026  through  automation  an...

Chevron Corp has flagged potential workforce reductions in the United States as part of its US$3 billion cost-cutting initiative . The oil giant aims to achieve these “structural” savings through asset sales, technology upgrades, and workflow changes, according to CEO Mike Wirth. Chevron recently established a US$1 billion innovation hub in Bengaluru, India , to support engineering and digital services, indicating a shift in operational focus that may impact U.S.-based roles. “It’s about much, much more than just jobs,” Wirth emphasized, noting that job cuts are only a small part of Chevron’s broader strategy to enhance efficiency in its commodity-driven business model.

  More than 100 Hilton hotel workers in Seattle have gone on strike, demanding higher wages, fair staffing levels, and the reversal of Covid-19 era cuts , according to the Unite Here union on Saturday. The weeklong strike , involving 374 workers from the DoubleTree by Hilton Hotel Seattle Airport and Hilton Seattle Airport & Conference Center, is scheduled to continue until the early hours of Oct 19, the union confirmed. In response, a Hilton spokesperson emphasized the company's commitment to negotiating in good faith to reach agreements that benefit both employees and the hotels. This strike is part of a larger movement involving over 4,300 hotel workers across Hilton, Hyatt, and Marriott hotels in major cities such as Honolulu, San Diego, San Francisco, and Seattle. In September, around 2,000 workers walked off the job at Hilton's largest hotel globally, the Hilton Hawaiian Village in Honolulu . The strike follows a broader trend in the hospitality industry, where arou...

Walt Disney Co has announced another round of corporate-level job cuts as part of ongoing efforts to improve profitability. In a statement on Wednesday, Disney said it had been reviewing its cost structure and identified ways for certain corporate functions to operate more efficiently. This latest round of layoffs reportedly affects about 300 employees in departments such as legal, human resources, finance, and communications , according to Deadline . However, divisions like ESPN and theme parks were not impacted in this wave. Disney began cost-cutting measures last year, which included eliminating 8,000 positions . Like other media giants such as Paramount Global and Warner Bros Discovery Inc , Disney has been grappling with the shift away from traditional TV toward the growing popularity of streaming services .o