1 Hewlett-Packard says it will cut another 25,000 to 30,000 jobs, or 10 per cent of its workforce, as it plans to split the company in two, come Nov 1. This is in addition to the 55,000 job cuts announced earlier. The plan is to save US$2.7 billion (S$3.8 billion) in annual costs, it said.
2 Although Asian markets rallied strongly yesterday, United States stocks were set for a subdued session as the US Fed kicks off a two-day meeting that could culminate in the first interest rate hike in almost a decade.
3 Aberdeen Asset Management sold 40,400 shares of Venture Corporation for about $337,000. It still remains a substantial shareholder of the listed electronics provider.
4 Noel Gifts has declared a final dividend of 0.6 cent per share and a special dividend of 2.4 cents per ordinary share. In its annual report issued yesterday, it said that this was in celebration of Singapore's Golden Jubilee anniversary and Noel's 40th Anniversary.
5 Sunpower Group will place up to 400 million shares at a price of 14 cents apiece, to raise gross proceeds of $56 million. One of the executive directors, Mr Ma Ming, will hold the controlling interest in Sunpower with a stake of about 19.77 per cent.