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Spending cuts

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Cenovus plans more job cuts, spending reductions for coming year

Calgary Herald - ‎19 hours ago‎
Cenovus Energy Inc. slashed its dividend by 69 per cent and said it will cut more jobs and further reduce its 2016 spending in an effort to maintain cash amid an extended slide in oil and natural gas prices. The company said in a statement Thursday it ...
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Total accelerates spending cuts as it braces against falling oil

Financial Times - ‎Feb 11, 2016‎
Total is to accelerate cuts to capital spending in the wake of the oil price collapse that has sent profits tumbling and triggered billions of dollars in write-offs.

IT Spending Cuts Spare the Internet of Things

Wall Street Journal (blog) - ‎Feb 9, 2016‎
The shaky economy and uncertain global markets are taking a toll on corporate IT spending, resulting in slashed technology budgets and job cuts, as CIO Journal reported Monday. Across the board, IT spending had already dropped by 5.8% by the end of ...
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#SONA2016 - Zuma serious about spending cuts

Independent Online - ‎1 hour ago‎
President Jacob Zuma delivered one of his toughest State of the Nation Addresses (SONA) on Thursday night since taking office in 2009.
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North American oil producers face more pressure to cut spending

The Globe and Mail - ‎Feb 8, 2016‎
He expects many producers will announce additional spending cuts when they reveal their fourth-quarter earnings in the coming weeks.
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Pioneer Natural Cuts Spending, Shuts Drilling Amid Rout

BOE Report (press release) - ‎Feb 10, 2016‎
Despite the spending cut, Pioneer said oil and gas production from its wells will expand by at least 10 percent this year. The statement was released after the close of regular U.S.
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George Osborne may have to introduce spending cuts or raise taxes to hit surplus target, says IFS

Telegraph.co.uk - ‎Feb 8, 2016‎
He warned Mr Osborne's plans were radically different from those adopted by previous governments , who achieved surpluses only eight times in the past 60 years and that "this could come at a cost", requiring "big tax rises or spending cuts with very ...

Brazil Delays Spending Cuts, Real Sinks

Barron's (blog) - ‎10 hours ago‎
Despite signs that Brazil's economic crisis will deepen this year and next, Brazil lawmakers proved again unwilling to consider unpopular spending cuts. The Brazilian real was among the weakest emerging market currencies Thursday, down 1.6% against the ...

State land chief's advice on digging out: Tax hike and spending cuts

Santa Fe New Mexican - ‎7 hours ago‎
Susana Martinez and state lawmakers waited too long to address the state's revenue shortfall, and that the only way to dig out now is with immediate spending cuts and a tax increase. “To me, this looks like a pretty big hole,” Dunn said. “To climb out ...
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Saudi Arabia's construction sector hit by spending cuts

RT - ‎Feb 10, 2016‎
Construction companies in Saudi Arabia are delaying paying staff as a result of the growing pressure on the country's economy hit by sliding oil prices, Reuters reported.
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David Cameron's own mother signs petition against spending cuts

Daily Mail - ‎Feb 9, 2016‎
David Cameron faced an embarrassing row today after it emerged both his mother and his aunt have signed a petition protesting against council cuts in his own back yard. Conservative-run Oxfordshire County Council plans to close dozens of children's ...
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Greece's Creditors Suggest Spending Cuts Instead of Tax, Contribution Hikes

Greek Reporter - ‎Feb 10, 2016‎
Creditors suggest that Greece should proceed with government spending cuts instead of raising taxes and contributions in order to save security funds.
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Spending cuts coming at Pemex, in budget

Mexico News Daily - ‎Feb 9, 2016‎
Analysts polled by El Universal expect spending cuts to total between 90 billion and 130 billion pesos to counter a big loss in petroleum revenues.

For Statoil, $7 Billion Spending Cut Leads Home to Norway

Bloomberg - ‎Feb 10, 2016‎
Faced with oil prices near $30 a barrel and the effects of a decade of industry cost inflation, Statoil and its peers are pushing hard to cut spending and make operations more efficient. Those gains are more difficult to obtain across a variety of ...
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Sen. Smith: Spending cuts must go even deeper

Las Cruces Sun-News - ‎7 hours ago‎
Less than week after the New Mexico House of Representatives passed a trimmed-down spending plan, a key Senate Democrat is saying that deeper cuts are needed to keep the state solvent in the wake of tumbling energy prices and steadfast reluctance ...

Liberian Senate Desperate Moves to Dodge Spending Cuts

AllAfrica.com - ‎Feb 9, 2016‎
Monrovia - The Liberian Senate is said to be hell bent on doing anything possible to dodge its share of spending cuts initiated by the government, through the Ministry of Finance and Development Planning, to mend the crippled economy.
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ConocoPhillips Reports Severe Losses On Depressed Prices, Cuts Dividends And Capital Spending

Forbes - ‎Feb 9, 2016‎
In line with the market expectations, ConocoPhillips, the world's largest independent exploration and production company by proved reserves and annual production, reported disappointing 2015 financial results, primarily due to plummeting commodity prices.

Opinion: Alberta should cut spending, not impose sales tax

Edmonton Journal - ‎Feb 7, 2016‎
But this neglects the history of successful fiscal consolidations in Canada, which have focused largely on reducing spending. Consider Alberta's own fiscal consolidation of the 1990s, when the province cut spending significantly under Premier Ralph ...

Southeast Asian firms line up spending cuts

BusinessWorld Online Edition - ‎18 hours ago‎
BENGALURU/HONG KONG -- As profits sag and debt mounts, more Southeast Asian firms are set to join the likes of Malaysian oil giant Petronas in cutting capital expenditure (capex), casting a cloud over economic growth in a region better known as a ...
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Statoil cuts spending, to offer share option on dividends

The Globe and Mail - ‎Feb 4, 2016‎
Norway's Statoil pledged on Thursday to keep cutting capital spending as oil prices fall after reporting better than expected fourth-quarter results, and said it would give shareholders the option to take their dividends in shares instead of cash ...
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